3 Months ended March 31,
------------------------
(Unaudited)
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1997 1998 1999 2000 2001 2001 2002
---- ---- ---- ---- ---- ---- ----
Revenues $1,967,137 $3,976,120 $ 5,904,099 $11,951,029 $24,460,071 $ 4,550,082 $ 7,101,601
Operating Expenses:
Cost of Sales 1,770,116 1,164,429 2,172,738 4,529,979 10,512,684 1,615,520 3,646,972
R&D 1,091,827 1,092,068 1,794,081 2,010,663 3,061,699 766,928 903,573
Sales & Marketing 1,151,798 1,316,526 1,874,096 2,721,046 5,071,933(1) 1,130,307 1,191,179(1)
Administrative
Expenses 1,205,513 1,388,518 2,356,019 3,136,855(3) 8,443,834(3) 638,838(3) 2,097,082(3)
Amortization (2) 33,035 106,238 219,591 841,279 1,799,338 399,602 488,669
Writedown of -- -- 112,500 -- 153,195 -- --
Lease Hold
Improvements
Interest on Long-Term 24,961 30,154 25,123 166,393 466,048 116,256 138,151
Debt
Interest Income -- -- -- (226,993) (311,965) (98,385) (22,781)
Restructuring charges -- -- -- -- -- -- 842,620
Stock Exchange Listing -- -- -- 525,198 -- -- --
Costs
Total Expenses 5,277,250 5,097,933 8,554,148 13,704,420 29,196,766 4,569,066 9,285,465
Loss from continuing (3,310,113) (1,121,813) (2,650,049) (1,753,391) (4,736,695) (18,984) (2,183,864)
operations before
income taxes
Income tax expense (62,892) 244 9,019 (1,144,716) 15,685 8,614 16,872
(recovery)
Loss from continuing (3,247,221) (1,122,057) (2,659,068) (608,675) (4,752,380) (27,598) (2,200,736)
operations
Loss from discontinued -- -- -- (198,228) (1,193,301) (249,522) --
operations
Net loss (3,247,221) (1,122,057) (2,659,068) (806,903) (5,945,681) (277,120) (2,200,736)
Deficit, beginning
of Period (1,701,060) (4,948,281) (6,070,338) (8,729,406) (9,536,309) (16,113,522)
Premium on repurchase -- -- -- -- (631,532) (391,818) --
of common shares
Deficit, end of Period (4,948,281) (6,070,338) (8,729,406) (9,536,309) (16,113,522) (10,205,247) (18,314,258)
Loss per share from $ (0.48) $ (0.17) $ (0.38) $ (0.06) $ (0.43) $ (0.00) $ (0.20)
continuing operations
(Basic and diluted)
Loss per Share (Basic and $ (0.48) $ (0.17) $ (0.38) $ (0.08) $ (0.54) $ (0.03) $ (0.20)
diluted)
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