VUANCE LTD. |
CONDENSED CONSOLIDATED BALANCE SHEETS |
Jun-30
|
Jun-30
|
Dec-31
|
||||||||||
2012
|
2011
|
2011
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
U.S. dollars in thousands
(except per share data)
|
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ASSETS
|
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CURRENT ASSETS:
|
||||||||||||
Cash and cash equivalents
|
44 | 28 | 215 | |||||||||
Trade receivables, net
|
1,176 | 693 | 1,542 | |||||||||
Other accounts receivable and prepaid expenses
|
58 | 275 | 105 | |||||||||
Inventories, net
|
275 | 278 | 269 | |||||||||
Total current assets
|
1,553 | 1,274 | 2,131 | |||||||||
SEVERANCE PAY FUND
|
231 | 269 | 228 | |||||||||
PROPERTY AND EQUIPMENT, NET
|
90 | 99 | 96 | |||||||||
Total assets
|
1,874 | 1,642 | 2,455 |
VUANCE LTD. |
CONDENSED CONSOLIDATED BALANCE SHEETS |
Jun-30
|
Jun-30
|
Dec-31
|
||||||||||
2012
|
2011
|
2011
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
U.S. dollars in thousands
(except per share data)
|
||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
|
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CURRENT LIABILITIES:
|
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Short-term bank credit
|
101 | 100 | 112 | |||||||||
Trade payables
|
1,715 | 1,448 | 2,439 | |||||||||
Employees and payroll accruals
|
121 | 145 | 139 | |||||||||
advances from customers
|
- | 553 | - | |||||||||
Accrued expenses and other liabilities
|
1,182 | 1,666 | 2,164 | |||||||||
Convertible bonds
|
- | 1,701 | 2,519 | |||||||||
Short-term loan and others
|
- | 2,967 | 456 | |||||||||
Total current liabilities
|
3,119 | 8,580 | 7,829 | |||||||||
LONG-TERM LIABILITIES:
|
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Accrued severance pay
|
233 | 286 | 227 | |||||||||
Total long-term liabilities
|
233 | 286 | 227 | |||||||||
SHAREHOLDERS' DEFICIT:
|
||||||||||||
Ordinary shares
|
192 | 113 | 192 | |||||||||
Additional paid-in capital
|
33,738 | 41,761 | 41,713 | |||||||||
Amount of liability extinguished on account of shares
|
10,160 | - | 819 | |||||||||
Accumulated deficit
|
(45,568 | ) | (49,098 | ) | (48,325 | ) | ||||||
Total shareholders' deficit
|
(1,478 | ) | (7,224 | ) | (5,601 | ) | ||||||
Total liabilities and shareholders' deficit
|
1,874 | 1,642 | 2,455 |
VUANCE LTD. |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
6 months ended
|
3 months ended
|
year ended
|
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Jun-30
|
Jun-30
|
Dec-31
|
||||||||||||||||||
2012
|
2011
|
2012
|
2011
|
2011
|
||||||||||||||||
Unaudited
|
Unaudited
|
Audited
|
||||||||||||||||||
U.S. dollars in thousands, except share data
|
||||||||||||||||||||
REVENUES
|
3,940 | 4,038 | 1,751 | 2,190 | 7,922 | |||||||||||||||
COST OF REVENUES
|
1,233 | 1,771 | 277 | 944 | 3,306 | |||||||||||||||
GROSS PROFIT
|
2,707 | 2,267 | 1,474 | 1,246 | 4,616 | |||||||||||||||
OPERATING EXPENSES:
|
||||||||||||||||||||
Research and development
|
142 | 280 | 55 | 137 | 462 | |||||||||||||||
Selling and marketing
|
1,464 | 1,714 | 730 | 987 | 3,505 | |||||||||||||||
General and administrative
|
491 | 451 | 178 | 216 | 732 | |||||||||||||||
Other (income) expense
|
(292 | ) | (144 | ) | (105 | ) | (37 | ) | (137 | ) | ||||||||||
Total operating expenses
|
1,805 | 2,301 | 858 | 1,303 | 4,562 | |||||||||||||||
OPERATING (LOSS) INCOME
|
902 | (34 | ) | 616 | (57 | ) | 54 | |||||||||||||
FINANCIAL INCOME , NET
|
1,869 | 294 | 2,045 | 482 | 990 | |||||||||||||||
INCOME BEFORE INCOME TAX
|
2,771 | 260 | 2,661 | 425 | 1,044 | |||||||||||||||
INCOME TAX
|
(13 | ) | (14 | ) | (8 | ) | (6 | ) | (25 | ) | ||||||||||
NET INCOME FOR THE PEROID
|
2,758 | 246 | 2,653 | 419 | 1,019 | |||||||||||||||
NET INCOME PER SHARE
|
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Basic
|
0.14 | 0.03 | 0.10 | 0.06 | 0.11 | |||||||||||||||
Diluted
|
0.12 | 0.03 | 0.09 | 0.04 | 0.09 | |||||||||||||||
Weighted average number of ordinary shares used
|
||||||||||||||||||||
in computing basic income per share
|
19,046,956 | 7,280,821 | 26,058,641 | 7,280,821 | 9,126,327 | |||||||||||||||
Weighted average number of ordinary shares used
in computing diluted income per share
|
23,017,550 | 9,280,432 | 30,029,235 | 9,370,588 | 11,710,254 |
Vuance Ltd.
(formerly, SuperCom Ltd.)
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By:
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/s/ Arie Trabelsi | |
Name: | Arie Trabelsi | ||
Title: |
Chief Executive Officer
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