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| Online Resources Reports Continued Strong Growth
In Gross Profit And Users For Third Quarter 2000 |
Condensed Statements Of Operations (Unaudited)
| |
THREE MONTHS ENDED
SEPTEMBER 30, |
NINE MONTHS ENDED
SEPTEMBER 30, |
| |
2000 |
1999 |
2000 |
1999 |
| Revenues: |
| Service fees |
$3,724,723 |
$1,815,388 |
$8,907,009 |
$4,440,300 |
| Implementation and other revenues |
601,120 |
477,050 |
2,236,830 |
1,335,415 |
| Total revenues |
4,325,843 |
2,292,438 |
11,143,839 |
5,775,715 |
| Expenses: |
| Cost of revenues |
3,466,635 |
2,357,048 |
9,794,371 |
6,362,236 |
| Gross profit (loss) |
859,208 |
(64,610) |
1,349,468 |
(586,521) |
| General & administrative |
1,580,854 |
970,507 |
4,744,562 |
2,523,321 |
| Selling and marketing |
2,269,018 |
1,346,232 |
6,697,858 |
3,558,660 |
| Systems and development |
1,568,796 |
994,046 |
4,680,510 |
2,844,304 |
| Total expenses |
5,418,668 |
3,310,785 |
16,122,930 |
8,926,285 |
| Loss from operations |
(4,559,460) |
(3,375,395) |
(14,773,462) |
(9,512,806) |
| Other income (expense) |
143,268 |
184,799 |
632,311 |
(511,148) |
| Loss before extraordinary loss |
(4,416,192) |
(3,190,596) |
(14,141,151) |
(10,023,954) |
| Extraordinary debt extinguishments loss |
-- |
-- |
-- |
(885,407) |
| |
(4,416,192) |
(3,190,596) |
(14,141,151) |
(10,909,361) |
| Preferred stock accretion |
-- |
-- |
-- |
(2,236,716) |
| Beneficial return on preferred shares |
-- |
-- |
-- |
(2,668,109) |
| Net loss available to common
stockholders |
$(4,416,192) |
$(3,190,596) |
$(14,141,151) |
$(15,814,186) |
| Basic and diluted loss per share: |
| Operations |
$(0.39) |
$(0.31) |
$(1.29) |
$(1.35) |
| Before extraordinary net loss |
(0.38) |
(0.29) |
(1.24) |
(2.12) |
| Extraordinary loss |
-- |
-- |
-- |
(0.13) |
| Net loss |
(0.38) |
(0.29) |
(1.24) |
(2.25) |
| Pro forma basic and diluted loss per share: |
| Operations |
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$(1.06) |
| Before extraordinary net loss |
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(1.67) |
| Extraordinary loss |
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(0.10) |
| Net loss |
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(1.77) |
| Shares used in calculation of loss per share: |
| Basic and diluted |
11,594,792 |
10,844,854 |
11,425,557 |
7,026,668 |
| Pro forma basic and diluted |
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8,950,312 |
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