-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CrlGxDdSiBeCWUCqKPeFdgahh2M8CfL4OL4rOfF/5nDcl7ptqHcrW5SurzcHuAlM UWDEZNNbAdJ5bQvo1FiLFQ== 0001021435-08-000014.txt : 20080808 0001021435-08-000014.hdr.sgml : 20080808 20080808124221 ACCESSION NUMBER: 0001021435-08-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080804 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080808 DATE AS OF CHANGE: 20080808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRAPHON CORP/DE CENTRAL INDEX KEY: 0001021435 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 133899021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21683 FILM NUMBER: 081001436 BUSINESS ADDRESS: STREET 1: 5400 SOQUEL AVENUE STREET 2: SUITE A2 CITY: SANTA CRUZ STATE: CA ZIP: 95062 BUSINESS PHONE: 8004727466 MAIL ADDRESS: STREET 1: 5400 SOQUEL AVENUE STREET 2: SUITE A2 CITY: SANTA CRUZ STATE: CA ZIP: 95062 FORMER COMPANY: FORMER CONFORMED NAME: UNITY FIRST ACQUISITION CORP DATE OF NAME CHANGE: 19960823 8-K 1 q208f8k.txt Q208 EARNINGS RELEASE FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): August 4, 2008 GRAPHON CORPORATION (Exact name of Registrant as specified in its charter) Delaware 0-21683 13-3899021 (State of (Commission File No.) (IRS Employer incorporation) Identification No.) 5400 Soquel Avenue, Suite A-2 Santa Cruz, California 95062 (Address of principal executive offices) Registrant's telephone number: (800) 472-7466 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-12(b) under the exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02. Results of Operations and Financial Condition. On August 4, 2008, we issued a press release announcing our financial results for the three and six-month periods ended June 30, 2008. A copy of the press release is being furnished as Exhibit 99.1 to this report and incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired - None (b) Pro Forma Financial Information - None (c) Shell Company Transactions - None (d) Exhibits: Exhibit No. Description ---------------- ------------------------------------ 99.1 Press release issued on August 4, 2008 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. Dated: August 8, 2008 GRAPHON CORPORATION By: /s/ William Swain --------------------------- Name: William Swain Title: Chief Financial Officer EX-99.1 2 q208pr.txt Q208 EARNINGS RELEASE Press Release For Immediate Release Company Contact: William Swain, GraphOn Corporation 1.800.GRAPHON Bill.Swain@GraphOn.com GraphOn Corp. Announces Second Quarter Financial Results SANTA CRUZ, CA, USA - August 4, 2008 - GraphOn(R) Corporation (OTCBB: GOJO) (www.graphon.com), a leading developer of business software for remote computing, today announced financial results for the second quarter of 2008. Financial Highlights Revenue was approximately $1.4 million for the three months ended June 30, 2008, as compared to approximately $1.3 million for the same period of 2007. Revenue was approximately $2.7 million for the six-month period ended June 30, 2008, as compared to approximately $2.4 million for the same period of 2007. The net loss for the three months ended June 30, 2008 was approximately $0.7 million, as compared to the approximately $1.0 million net loss for the same period of 2007. The net loss for the six-month period ended June 30, 2008 was approximately $1.4 million, as compared to the approximately $2.0 million net loss for the same period of 2007. The loss per common share for each of the three months ended June 30, 2008 and 2007 was $0.02 per share. The loss per common share for the six-month period ended June 30, 2008 was $0.03 per share as compared with a loss of $0.04 per share for the same period in 2007. "We are pleased with the increased revenue that we have been able to achieve in both the current quarter and six-month period as compared to the same periods in 2007," Robert Dilworth, Chairman and CEO, said. "We are optimistic about the future growth of our GO-Global revenue during this year of financial turmoil in other business markets. Along with the cash we received last year in the settlement of our litigation with Autotrader.com, our improved performance in 2008 provides us the opportunity to invest in new capabilities for our GO-Global products and in the development of new products that will expand the markets that GraphOn serves." About GraphOn Corporation For over a decade, GraphOn Corporation has been an innovator of cost-effective, advanced solutions that help customers access applications from anywhere. GraphOn's high-performance software provides fast remote access, cross-platform connectivity, and a centralized architecture that delivers a dramatically lower cost of ownership. The company's solutions run under Microsoft (MSFT) Windows, Linux, and UNIX, including Sun (SUNW) Solaris, IBM AIX, Hewlett-Packard (HPQ) HP-UX, and more. GraphOn is located in Santa Cruz, CA and is traded on the Over the Counter Bulletin Board under the ticker GOJO (OTCBB:GOJO). For more information, please visit the company's Web site at http://www.graphon.com. This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to GraphOn's most recent periodic and other reports filed with the Securities and Exchange Commission. GraphOn and GO-Global are a registered trademarks of GraphOn Corp. All other trademarks belong to their respective owners. # # # GRAPHON CORPORATION Condensed Consolidated Balance Sheets
(Unaudited) June 30, 2008 December 31, 2007 --------------- ----------------- Assets Cash and cash equivalents $ 4,489,100 $ 5,260,800 Accounts receivable, net 749,200 886,600 Prepaid expenses 77,900 42,600 --------------- ----------------- Total current assets 5,316,200 6,190,000 --------------- ----------------- Patents, net 2,296,700 2,741,300 Other assets, net 207,200 143,100 --------------- ----------------- Total assets $ 7,820,100 $ 9,074,400 =============== ================= Liabilities and stockholders' equity Accounts payable and accrued liabilities $ 780,200 $ 867,200 Deferred revenue - short term 1,479,000 1,475,000 Deferred revenue - long term 1,816,000 1,833,100 Other long term liability 28,400 - Stockholders' equity 3,716,500 4,899,100 --------------- ------------------ Total liabilities and stockholders' equity $ 7,820,100 $ 9,074,400 =============== ==================
GRAPHON CORPORATION Condensed Consolidated Statements of Operations
Three months ended June 30, Six months ended June 30, ------------------------------------------- ---------------------------------------- 2008 2007 2008 2007 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------------ --------------------- ------------------ ------------------ Revenue $ 1,373,100 $ 1,307,800 $ 2,685,400 $ 2,445,400 Cost of revenue 146,700 123,300 305,300 242,200 ------------------ --------------------- ------------------ ------------------ Gross profit 1,226,400 1,184,500 2,380,100 2,203,200 ------------------ --------------------- ------------------ ------------------ Selling and marketing 427,200 420,900 835,700 853,400 General and administrative 945,100 1,137,400 1,910,500 2,111,400 Research and development 599,400 639,200 1,085,800 1,310,700 ------------------ --------------------- ------------------ ------------------ Total operating expenses 1,971,700 2,197,500 3,832,000 4,275,500 ------------------ --------------------- ------------------ ------------------ Loss from operations (745,300) (1,013,000) (1,451,900) (2,072,300) Other income, net 17,100 14,400 52,600 34,000 ------------------ --------------------- ------------------ ------------------ Loss before income taxes (728,200) (998,600) (1,399,300) (2,038,300) Income taxes 800 2,200 1,600 3,900 ------------------ --------------------- ------------------ ------------------ Net loss $ (729,000) $ (1,000,800) $ (1,400,900) $ (2,042,200) ================== ===================== ================== ================== Loss per common share - basic and diluted $ (0.02) $ (0.02) $ (0.03) $ (0.04) ================== ===================== ================== ================== Weighted average shares outstanding - basic and diluted 47,096,401 46,247,401 47,093,104 46,242,822 ================== ===================== ================== ==================
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