-----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, TuU39GNmP6OtOfQqMTsVys+GKN7dgS1nJMuQi/wJFqNNATGo9jkk6N9PBcd3fPw8 filiGj3AloMUFHPASL+HAw== /in/edgar/work/0000898430-00-003059/0000898430-00-003059.txt : 20001024 0000898430-00-003059.hdr.sgml : 20001024 ACCESSION NUMBER: 0000898430-00-003059 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20000331 FILED AS OF DATE: 20001023 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARBITE GOLF INC CENTRAL INDEX KEY: 0001095102 STANDARD INDUSTRIAL CLASSIFICATION: [5090 ] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-28707 FILM NUMBER: 744339 BUSINESS ADDRESS: STREET 1: 6330 NANCY RIDGE DRIVE STREET 2: SUITE 107 CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 8586250065 10QSB 1 0001.txt FORM 10-QSB UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________ FORM 10-QSB QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2000 Commission file Number: 0-28707 CARBITE GOLF, INC. (Exact Name of Small Business Issuer as Specified in Its Charter) British Columbia, Canada 33-0770893 (State or Other Jurisdiction of (IRS Employer Incorporation or Organization) Identification No.) 9985 HUENNEKENS STREET SAN DIEGO, CA 92121 (Address of Principal Executive Offices) Registrant's Telephone Number (858) 625-0065 Check Whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act during the past 12 months (or for such shorter period that Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes______ No X ----- On September 15, 2000, 25,371,750 shares of the Registrant's Common Stock, no par value, were outstanding.
Index Page No. PART I FINANCIAL INFORMATION Item 1. Financial Statements: 3 Condensed Consolidated Balance Sheet 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8 PART II OTHER INFORMATION Item 5. Other Information 9 Item 6. Exhibits and Reports on Form 8-K 10 SIGNATURES 10
2 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CARBITE GOLF INC CONDENSED CONSOLIDATED BALANCE SHEET MARCH 31, 2000 (UNAUDITED) - -------------------------------------------------------------------------------- ASSETS Current Assets Cash $ 665,018 Accounts Receivable 2,538,346 Inventory 2,510,636 Prepaid Expenses 294,959 Future Tax Assets 150,000 - -------------------------------------------------------------------------------- Total Current Assets 6,158,959 Capital Assets 751,258 Patents and Trademarks Net of Amortization 88,859 Goodwill Net of Amortization 2,137,978 Other Non-Current Assets (Deferred Costs) 232,114 - -------------------------------------------------------------------------------- Total Assets $ 9,369,168 ================================================================================ LIABILITIES AND STOCKHOLDERS EQUITY Current Liabilities Accounts Payable 603,016 Accrued Liabilities 185,932 Bank Loan 559,783 Income Tax Payable 33,977 - -------------------------------------------------------------------------------- Total Current Liabilities $ 1,382,708 - -------------------------------------------------------------------------------- Shareholders Equity Share Capital 10,835,612 Deficit (2,849,152) Total Stockholders Equity 7,986,460 - -------------------------------------------------------------------------------- TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 9,369,168 ================================================================================ 3 CARBITE GOLF INC CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS MARCH 31, 2000 (UNAUDITED) Three months ended March 31, 2000 1999 - -------------------------------------------------------------------------------- Net Sales $4,245,876 $4,115,129 Cost of Goods Sold 2,243,546 2,119,600 - -------------------------------------------------------------------------------- Gross Profit 2,002,330 1,995,529 Operating Expenses Selling Expenses 1,398,900 954,172 General And Administrative Expenses 506,423 415,679 Research and Development Costs 143,449 115,780 - -------------------------------------------------------------------------------- Income from Operations (46,442) 509,898 Amortization (128,447) (101,628) Interest income (expense) 4,581 (1,209) Other Expense 0 (209,843) - -------------------------------------------------------------------------------- Net Income (170,308) 197,218 ================================================================================ Basic and Diluted Earnings per Share (.01) .01 ================================================================================ 4 CARBITE GOLF INC CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS MARCH 31, 2000 Three months ended March 31, 2000 1999 - -------------------------------------------------------------------------------- Cash Flows used in Operating Activities Net Loss (170,308) 197,218 Adjustments to Net Loss to Cash Used in Operations: Additional Paid in Capital Deferred Costs on Unrecognized Sales 51,395 61,566 Amortization 77,052 72,500 Depreciation 40,424 30,914 Changes in Operating Assets and Liabilities: Inventories (129,051) 462,752 Accounts Receivable (78,845) (799,039) Other Current (128,804) (634,195) Accounts Payable and Accrued Liabilities (160,176) 460,050 - -------------------------------------------------------------------------------- Cash Used in Operating Activities (498,313) (148,234) - -------------------------------------------------------------------------------- Cash Flows from Investing Activities: Purchases of Capital Equipment (173,756) (176,741) Other Investment (28,625) (21,695) - -------------------------------------------------------------------------------- Cash Used in Investing Activities (202,381) (198,436) - -------------------------------------------------------------------------------- Cash Flows from Financing Activities: Net Borrowings (payments) under Line of Credit 327,225 0 Repayments of L/T Debt (3,393) (2,124) Change in Foreign Currency 358 1,305 Net Proceeds From Sale of Common Stock 380,853 602,551 - -------------------------------------------------------------------------------- Cash Provided by Financing Activities 705,043 601,732 - -------------------------------------------------------------------------------- Net Increase (Decrease) in Cash 4,349 255,062 Cash at Beginning of Period 660,669 1,154,678 - -------------------------------------------------------------------------------- Cash at End of Period $ 665,018 $1,409,740 ================================================================================ 5 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 - QUARTERLY FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements and related notes as of March 31, 2000 and for the three month periods ended March 31, 2000 and 1999 are unaudited but include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of financial position and results of operations of the Company for the interim periods. The results of operations for the three-month period ended March 31, 2000 are not necessarily indicative of the operating results to be expected for the full fiscal year. The information included in this report should be read in conjunction with the Company's audited consolidated financial statements and notes thereto and the other information, including risk factors, set forth for the year ended December 31, 1999 in the Company's Form 10-SB. Readers of this Quarterly Report on Form 10-QSB are strongly encouraged to review the Company's Form 10-SB. Copies are available from the Company's Investor Relations Department at 9985 Huennekens Street, San Diego, CA 92121. NOTE 2 - ACCOUNTS RECEIVABLE Accounts Receivable at March 31, 2000 were $2,842,572 with a reserve for doubtful accounts of ($304,226) for net receivables of $2,538,346. NOTE 3 - INVENTORY Inventories consist of: Raw materials $1,869.263 Finished goods 541,373 ---------- $2,510,636 NOTE 4 - BANK LOAN We have a $1,000,000 Revolving Line of Credit with Scripps Bank in San Diego, California, which is at the lender's general reference rate of interest and is collateralized by accounts receivable. As of March 31, 2000, we had drawn $519,150 under that Line of Credit. NOTE 5 - LETTER OF CREDIT COMMITMENTS The Company purchases some components from overseas vendors through Letter of Credit financing. At March 31, 2000, we had $338,641 in such Letters of Credit outstanding with Scripps Bank, San Diego. These Letters of Credit are generally due and payable by the Company upon shipment of the products by our vendors. 6 NOTE 6 - EARNINGS PER SHARE Earnings per share are calculated by dividing the loss available to common shareholders by the weighted average of shares outstanding during the period. At March 31, 2000, there were 23,426,486 common shares outstanding. The computation of diluted loss per share excludes the effect of the exercise of share options and share purchase warrants outstanding because their effect would be antidilutive due to losses incurred by the Company during this period. At March 31, 2000, there were 2,939,740 share options and 1,291,250 share purchase warrants outstanding. 7 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Management's Discussion and Analysis of Financial Condition and Results of Operations contain forward-looking statements which involve substantial risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth in this section and elsewhere in this Quarterly Report on Form 10-QSB. RESULTS OF OPERATIONS Net Sales. Net consolidated sales through the first quarter of 2000 were $4,245,876, a 3% increase compared to $4,115,129 in the first quarter of 1999. Putter sales were essentially flat even though we introduced no new models. Wedge sales were below our projections due to the delayed launch of our Polar Balanced Wedge product. Gross Profit. Gross margins decreased approximately 3% due to "close out" sales of slower moving putters. Operating Expenses. Operating Expenses for the first quarter of 2000 were $2,048,772 up 38% compared to $1,485,631 for 1999, due to increases in Sales and Marketing, General and Administrative, and Research and Development noted below. Sales and Marketing. Sales and Marketing expense increased 32% over the same quarter last year, principally due to increases in commission expense and sales staff. Commissions were up due to (i) the use of outside call rooms for telemarketing campaigns where commissions are 20-25% on gross sales and (ii) a portion of 1999 sales were not paid until First Quarter 2000 due to a computer software error. Salaries in the sales department were up as we added sales personnel. Marketing expenses were also higher due to production and testing expenses for an infomercial which had not yet been rolled out. General and Administrative Expense. General and Administrative expenses were $506,423, an increase of 21% from $408,036 in the first quarter of 1999. These increases were primarily due to an increase in wages and salaries. Moving costs and higher rent also contributed in increased G&A as we completed our move from an 18,000 square foot facility to a 26,000 square foot facility in February 2000. Research and Development Expense. Research and Development expenses increased 24% in the first quarter of 2000 compared to the first quarter of 1999. This increase was in wages and salaries to cover additional work on new products and improvement of current technologies. Other Expenses. Other expenses were higher in deferred costs and depreciation, but the same for amortization of goodwill. There were more infomercial costs to expense in the first quarter of 2000 compared to1999. Depreciation was higher by $9,510 in 2000 because of the purchase of new computer information systems software. 8 Income Taxes. The company has not recorded a provision for income taxes for the current three-month period, as losses have been incurred to this point in the current year. Capital Expenditures. Capital Expenditures in the first quarter of 2000 were $95,338, compared to $198,437 in the first quarter of 1999. $56,970 was paid for a secondary Polar Balanced Putter tooling and $11,675 for Yipless Putter robots that demonstrate Carbite Technology in a retail environment. The remaining balance was used in set-up of our new building for equipment and production support. LIQUIDITY AND CAPITAL RESOURCES We have historically financed our business through cash flow from operations and the private placement of equity and/or debt securities, supplemented with short-term borrowings from commercial lenders. In March, 2000, we raised $550,000 through a private equity placement with a director, resident in Canada. Net cash used by operating activities was $498,313 for the quarter ended March 31, 2000 compared to $148,234 net cash used for the same quarter in 1999. As of March 31, 2000, we had drawn $519,150 under our $1,000,000 Credit Facility at Scripps Bank, San Diego. PART II OTHER INFORMATION ITEM 5. OTHER INFORMATION On February 4, 2000, we moved to a new headquarters building at 9985 Huennekens Street, San Diego, California. We are leasing the building under a four-year lease dated October 29, 1999 that calls for base rent of $20,185 per month. This facility provides 26,000 square feet of office, warehouse, manufacturing, and research and development space and should provide adequate facilities for growth in the foreseeable future. David Williams, the President of Roxborough Holdings in Toronto, Canada, was appointed to the Company's Board of Directors at a Board meeting on February 17, 2000. On March 15, 2000, we completed an Amended and Restated Endorsement Agreement with pro golfer, Fuzzy Zoeller. The basic terms of the agreement are the same as the original agreement in August, 1999, i.e., a five-year Endorsement Agreement whereby Zoeller will play, endorse, and assist in the development of Carbite products worldwide. The Agreement calls for payments to Zoeller in a combination of cash and stock of $138,000 for the first six months (August 1999 to February 2000) and five annual payments of cash and stock thereafter with a dollar value of $300,000 in Year 2, $300,000 in Year 3, $500,000 in Year 4, $550,000 in Year 5 and $575,000 in Year 6. We have the right to terminate the arrangement if 2001 sales do not reach $25 million. This agreement simply clarifies the procedures for the issuance of shares to Zoeller. 9 On March 17, 2000, a private placement of 1,000,000 shares was completed with David Williams, a Director, for $.55 CDN per share. 500,000 warrants were attached with an exercise price of $.55 CDN per share with an expiration date of March 17, 2001. No underwriters were used in this transaction and we have relied upon the exemptions provided by Section 4(2) and/or Regulation D of the Securities Act. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits. The exhibits filed as part of this report are listed below: Exhibit No. Description ----------- ----------- 10.17 Amended and Restated Endorsement Agreement with Fuzzy Zoeller Productions dated as of March 15, 2000 27.1 Financial Data Schedule (b) Reports on Form 8-K. No reports on Form 8-K were filed during the Quarter ended March 31, 2000. SIGNATURES In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CARBITE GOLF, INC. Date: October 15, 2000 By: /s/ John Pierandozzi -------------------- John Pierandozzi President and CEO 10 EX-10.17 2 0002.txt AMENDED AND RESTATED ENDORSEMENT AGREEMENT EXHIBIT 10.17 AMENDED AND RESTATED ENDORSEMENT AGREEMENT This Amended and Restated Endorsement Agreement is entered into as of this 15 day of March, 2000, between Carbite, Inc., a California corporation located at 6330 Nancy Ridge Dr., Suite 107, San Diego, CA 92121 which is a wholly-owned subsidiary of Carbite Golf, Inc., a British Columbia corporation (hereinafter collectively referred to as "Carbite") and Fuzzy Zoeller Productions, Inc. an Indiana corporation located at PO Box 1407, New Albany, IN 47151 (hereinafter referred to as "Zoeller"). Whereas, Zoeller represents it owns all the rights to the Fuzzy Zoeller name and likeness who is known through the world as a professional golfer; and Whereas, Carbite manufactures and distributes products world wide; and Whereas, Carbite is desirous of acquiring the exclusive rights to use Zoeller's name and likeness in promoting the company and products of Carbite, or other brands to be acquired by Carbite; Whereas, the parties entered into an Endorsement Agreement dated as of August 20, 1999 which they now desire to amend and restate; Therefore, in consideration of the Agreement herein and for other good and valuable consideration, it is agreed to as follows: 1. Zoeller agrees to allow the unlimited worldwide use of Zoeller's name and likeness in the promotion of Carbite products under the Carbite name or other brand to be acquired. The use of the Zoeller image and direct quotes attributed to Zoeller will be submitted to Zoeller in advance for approval and such approval will not be unreasonably withheld. Carbite agrees not to use Zoeller in the promotion of specific products that will violate the endorsement agreements currently in place. 2. Zoeller will provide a link from www.fuz.com to domains that Carbite will designate. Carbite will provide a link from Carbite domains to www.fuz.com. Zoeller will be available occasionally for on-line chats, providing time and schedule permit. 3. Zoeller will carry a Carbite or other brand to be acquired golf bag while competing on the PGA and Senior PGA TOUR, while attending corporate outings and all golf functions and activities in general and continue to conduct himself in a professional manner. 4. Zoeller will use his best efforts to attempt to use products by Carbite or other brands to be acquired. At a minimum, Zoeller will use 10 Carbite or other brand to be acquired clubs including wedges and putter. Carbite agrees to allow Zoeller to continue to play the Daiwa 153 irons until such time as Carbite has an agreement with Daiwa for continued use of the trademark or Carbite can provide an acceptable replacement. Zoeller will wear a Carbite or company to be acquired shirt for advertising or promotional purposes. 5. Zoeller will occasionally advise and consult with Carbite on golf club design. 6. Zoeller will provide a maximum of eight (8) days per contract year (dates, times, locations and schedule permitting) for sales and marketing of Carbite products or other brands to be acquired including filming infomercials, trade shows and customer meetings. Carbite agrees to the best of its ability to have as many of these dates as possible at Covered Bridge Golf Course. 7. Zoeller will use his best efforts to aid Carbite in corporate development. Carbite anticipates the need to use Zoeller to periodically meet with investment bankers, investors and shareholders among others to develop and expand relationships that will benefit the company. These meetings will be arranged in advance to meet the time and schedule of Zoeller. 8. As compensation, Carbite agrees to pay Zoeller the following in cash and common stock of Carbite Golf Inc: Cash Stock Total Value Contract Year 1 (8/20/99-2/19/00) $ 50,000 $ 88,000 $138,000 Contract Year 2 (2/20/00-2/19/01) $200,000 $100,000 $300,000 Contract Year 3 (2/20/01-2/19/02) $200,000 $100,000 $300,000 Contract Year 4 (2/20/02-2/19/03) $275,000 $225,000 $500,000 Contract Year 5 (2/20/03-2/19/04) $300,000 $250,000 $550,000 Contract Year 6 (2/20/04-2/19/05) $325,000 $250,000 $575,000 a. The cash portion of such compensation shall be paid following schedule: (i) For Contract Year 1, $25,000 on the execution of this agreement and $25,000 90 days thereafter. 2 (ii) For Contract Years 2-6, one-quarter increments shall be due on February 20/th/, May 20/th/, August 20/th/ and October 20/th/ of the Contract Year. b. The stock portion of such compensation shall be governed by the following: (i) For Contract Year 1, the shares shall be issued at the end of Contract Year 1 and shall be calculated at $.45 per share. (ii) For Contract Years 2-6, the shares to be issued shall be calculated semi-annually as follows: 50% of the dollar value of stock to be issued in each Contract Year shall be calculated at August 20/th/ of each Contract year based on the weighted average closing sale price of the stock during the ten trading days prior to August 20/th/ of that Contract Year. The remaining 50% shall be calculated at the end of each Contract Year based on the weighted average closing sale price of the stock during the ten trading days prior to the last day of that Contract Year. (iii) Such calculations shall be based on trading on the Canadian Venture Exchange during such time as the stock is traded there or, if the stock ceases to be traded on the Canadian Venture Exchange, on such other stock exchange on which it is traded. If the shares are actively traded on more than one exchange, the calculations shall be based on an average of the weighted average closing sale price on those exchanges. (iv) If, in any Contract Year, the weighted average closing sale price is below $.45 U.S., Carbite may elect to pay Zoeller in cash. (v) If the shares to be issued to Zoeller during any Contract Year shall cause the cumulative number of shares issued to Zoeller under this Agreement to exceed 4.9% of the issued and outstanding shares of Carbite, Carbite may elect to cap the shares at 4.9% and pay the difference in cash. (vi) Carbite shall take all steps necessary to cause the shares due Zoeller for each Contract Year to be issued within thirty (30) days after the calculation date for each share issuance. (vii) Any shares issued pursuant to this Agreement, once issued, will not have been registered under the United States Securities Act of 1933 (the "Act") or the securities laws of any state of the United States, and will be "Restricted Securities" as the term is defined in Rule 144 under the Act. The shares, once issued, may not be offered for sale, sold or otherwise 3 transferred within the United States except pursuant to an effective Registration Statement under the Act and any applicable state securities laws, or pursuant to an exemption from registraton under the Act, the availability of which must be established to the satisfaction of the Company. (viii) Zoeller will execute an Investment Representation Agreement in the form attached hereto as Exhibit A. (ix) If Carbite subdivides or consolidates its stock, pays a stock dividend (other than in the ordinary course), or conducts a rights offering to its shareholders, then the number of shares to be issued Zoeller and the minimum price in Paragraph 8(b)(i) shall be increased or decreased proportionately. (x) Carbite stock in currently traded on the Canadian Venture Exchange. The shares issued to Zoeller under this Agreement will be subject to a hold period under the Securities Act (British Columbia), the rules and policies of the Canadian Venture Exchange, and/or other applicable securities laws. 9. Carbite agrees to pay all reasonable and necessary expenses involved in sales and marketing or corporate development appearances for Zoeller including first class travel hotel and meal expenses. 10. Zoeller will compete in a minimum of 15 PGA tournaments per year. If for whatever reason Zoeller plays in less than 15 PGA tournaments in any year, the compensation will be reduced by dividing the compensation by 15 and multiplying by the number of events played. 11. Carbite can terminate the contract for the following reasons: a. Zoeller is unable to compete due to serious injury, dies, or fails to conduct himself in a professional manner consistent with the standards of the PGA Tour. b. The gross sales (net of returns) of Carbite, Inc., in calendar year 2001, do not exceed $25,000,000. 12. Carbite will indemnify Zoeller from any claims and damages arising from the use of the endorsed product or the endorsement of the products or the advertising of Carbite products. 13. This agreement shall be governed by the laws of the State of California. Any disputes between the parties that cannot be resolved will be determined by arbitration 4 according with the American Arbitration Association. The prevailing party shall be entitled to reasonable attorneys' fees, costs and necessary disbursements. 14. The contact period shall commence on August 20, 1999 and conclude on August 20, 2004 unless sooner terminated, extended or renewed in accordance with this agreement. 15. Nothing contained in this Agreement shall be construed as establishing an employer/employee relationship between Carbite and Zoeller. There shall be no withholdings for tax purposes from any payments due to Zoeller form Carbite. 16. Neither party shall have any right to grant sublicenses or to otherwise assign any of its rights or obligations in this Agreement without the express written consent of the other party. 17. All notices or statements shall be sent via overnight express to the following addresses. Carbite Inc. or Carbite Golf, Inc. Fuzzy Zoeller Productions, Inc. 9985 Huennekens St. PO Box 1407 San Diego, CA 92121 New Albany, IN 47151 Attention: John Pierandozzi Attention: Dave Lobeck 18. This Agreement is subject to regulatory approval by the Canadian Venture Exchange. Carbite shall promptly take all reasonable steps to secure such regulatory approval. 19. Carbite and Zoeller shall execute any and all such further deeds, documents and assurances and shall do any and all such further and other things as may be necessary to implement and carry out the intent of this Agreement. 20. The provisions herein contained constitute the entire agreement between the parties and supersede all previous understandings, communications, representations and agreements, whether written or verbal, between the parties with respect to the subject matter of this Agreement. 5 21. All dollar amounts referred to in this Agreement have been expressed in United States currency, unless otherwise indicated. In Witness, the parties in this Agreement have caused it to be executed as of the 15th day of March, 2000. Date: 3/15/00 CARBITE INC. ------------------------- By: /s/ John R. Pierandozzi -------------------------------- Date: 3/15/00 CARBITE GOLF, INC. ------------------------- By: /s/ John R. Pierandozzi -------------------------------- Date: 3/15/00 FUZZY ZOELLER PRODUCTIONS, INC. ------------------------- By: /s/ Dave Lobeck -------------------------------- Fuzzy Zoeller Productions, Inc. 6 EX-27.1 3 0003.txt FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE SHEET AS OF MARCH 31, 2000, THE STATEMENTS OF OPERATIONS, AND THE CASH FLOWS FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2000 AND 1999 AND FOOTNOTES THERE TO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS AND NOTES THERETO. 3-MOS 3-MOS DEC-31-2000 DEC-31-1999 JAN-01-2000 JAN-01-1999 MAR-31-2000 MAR-31-1999 665,018 1,409,740 0 0 2,535,436 2,103,634 0 0 2,510,636 1,536,499 6,158,959 5,899,040 751,258 530,933 40,424 30,914 9,369,168 9,262,190 1,382,708 1,143,924 0 0 0 0 0 0 10,835,612 10,377,284 (2,849,152) (2,259,018) 9,369,168 9,262,190 4,245,876 4,115,129 4,245,876 4,115,129 2,243,546 2,119,600 2,243,546 2,119,600 2,048,772 1,485,631 0 0 4,581 (1,209) (170,308) 407,061 0 209,843 (170,308) 197,218 0 0 0 0 0 0 (170,308) 197,218 (.01) .01 (.01) .01
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