EX-1 2 dex1.txt SECOND QUARTER FINANCIAL RESULTS Bid.Com International Inc. Consolidated Balance Sheet (expressed in thousands of Canadian dollars) (Canadian GAAP, Unaudited) ================================================================================ June 30 June 30 December 31 -------------------------------------------------- Balance Sheet Data 2001 2001 2000 -------------------------------------------------- (unaudited) (unaudited) (audited) (in US$) translated into US$ at = Cdn$ 1.5175 for convenience Cash $ 8,784 $ 5,789 $ 7,363 Marketable securities 2,947 1,942 8,124 Other current assets 573 378 1,881 Other assets 2,448 1,613 3,433 -------------------------------------------------- Total assets $ 14,752 $ 9,722 $ 20,801 ================================================== Current Liabilities $ 777 $ 512 $ 2,086 Short term and long term deferred revenue 839 553 2,802 Long Term Debt 21 14 59 Total shareholders' equity 13,115 8,643 15,854 -------------------------------------------------- Total liabilities and shareholders' equity $ 14,752 $ 9,722 $ 20,801 ==================================================
Bid.Com International Inc. Consolidated Statement of Operations (expressed in thousands of Canadian dollars, except per share amounts) (Canadian GAAP, Unaudited) =================================================================================================================================== Three Months Ended Six Months Ended --------------------------------------------------------------------------------------------------- June 30 June 30 --------------------------------------------------------------------------------------------------- 2001 2001 2000 2001 2001 2000 --------------------------------------------------------------------------------------------------- (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (in US$) (in US$) translated translated into US$ at into US$ at Cdn$ 1.5175 Cdn$ 1.5175 for for convenience convenience Revenues $ 1,415 $ 932 $ 3,002 $ 2,670 $ 1,759 $ 9,606 Customer Acquisition Costs - - (157) (19) (13) (157) ------------------------------------------- ------------------------------------------------- Net Revenue 1,415 932 2,845 2,651 1,746 9,449 ------------------------------------------- ------------------------------------------------- General and Administrative Costs 2,998 1,976 4,198 5,359 3,531 7,984 Sales and Marketing Costs 935 616 598 2,340 1,542 653 Technology and Development 787 519 297 1,774 1,169 731 Depreciation and Amortization 329 217 234 638 420 490 Direct Expense: Cost of Goods Sold - - 2,829 - - 9,772 Advertising and Promotion - - 1,416 - - 4,557 Other Income, net (160) (105) (57) (273) (180) (305) ------------------------------------------- ------------------------------------------------- Total Expenses 4,889 3,223 9,515 9,838 6,482 23,882 ------------------------------------------- ------------------------------------------------- ------------------------------------------- ------------------------------------------------- Loss before the undernoted (3,474) (2,291) (6,670) (7,187) (4,736) (14,433) ------------------------------------------- ------------------------------------------------- Realized gains on disposals of marketable securities and strategic investments, and recovery of assets 3,060 2,016 - 6,746 4,445 - Unrealized gains and losses on revaluation of marketable securities and strategic investments, and provision for impairments of assets (846) (557) (430) (1,298) (855) (430) Retail activities settlement (274) (181) - (404) (266) - Restructuring charge (613) (404) - (613) (404) - ------------------------------------------- ------------------------------------------------- Net Loss before Income Taxes (2,147) (1,417) (7,100) (2,756) (1,816) (14,863) ------------------------------------------- ------------------------------------------------- Provision for Income Taxes - - - - - - ------------------------------------------- ------------------------------------------------- Net Loss $ (2,147) $(1,417) $ (7,100) $ (2,756) $ (1,816) $ (14,863) ------------------------------------------- ------------------------------------------------- Earnings(Loss) per basic share $ (0.04) $ (0.03) $ (0.13) $ (0.05) $ (0.03) $ (0.28) ------------------------------------------- ------------------------------------------------- Weighted average common share 54,638 54,638 53,061 54,638 54,638 52,934 ------------------------------------------- -------------------------------------------------