8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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, 2003

SOURCINGLINK.NET, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-28391	98-0132465
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

16855 West Bernardo Drive, Suite 260, San Diego, CA	92127
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (858) 385-8900

Not applicable

(Former name or former address, if changed since last report.)

Item 7. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits. The following exhibit is filed as part of this report:

Exhibit Number	Description
99.1	Press Release dated August 4, 2003.

Item 12. Results of Operations and Financial Condition.

On August 4, 2003, the Registrant issued a press release regarding its financial results for the first quarter of fiscal year 2004, ended June 30, 2003. A copy of the press release issued by the Registrant concerning its financial results is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Current Report on Form 8-K, including Exhibit 99.1, is furnished pursuant to Item 12 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

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 hereunto duly authorized.

	SOURCINGLINK.NET, INC.
August 5, 2003	/s/    GARY J. DAVIDSON
	Gary J. Davidson, VP Finance and Administration, Chief Financial Officer and Chief Operating Officer

EXHIBIT INDEX

Exhibit Number	Description	Sequentially Numbered Page
99.1	Press Release dated August 4, 2003.	5

EX-99.1

Exhibit 99.1

[LOGO]

PRESS RELEASE                

INVESTOR RELATIONS CONTACT

Gary Davidson

Chief Financial Officer

858.385.8900, Ext. 301

Fax: 858.385.8997

Email: investor@sourcinglink.net

FOR IMMEDIATE RELEASE:

SOURCINGLINK ANNOUNCES FIRST QUARTER RESULTS

SAN DIEGO, CA, AUGUST 4, 2003, — SourcingLink.net, Inc. (OTC BB: SNET.OB), a provider of business-to-business merchandise eSourcing, today announced its results for the first quarter of fiscal year 2004, ended June 30.

Net revenues for the first quarter were $527,000, compared to $906,000 in the same period a year ago. The operating loss in the first quarter of fiscal year 2004 was $372,000, nearly unchanged from the operating loss of $373,000 in last year’s first quarter. The net loss for the three-month period ended June 30, 2003 was $371,000, or $0.04 a share, compared to a net loss of $279,000, or $0.03 a share, a year ago.

The decline in net revenues for the 3-month period as compared to the prior year is due to a lower level of services activity in the current fiscal year, primarily associated with the approaching completion of the services work under a multi-year project for Carrefour S.A. The Company is completing its services work for Carrefour in the first part of fiscal 2004, and as of May 2003 the Company has received the full balance due for services under the contract, including all fees for services to be performed in connection with the existing services agreement during fiscal 2004. The Company’s operating loss of $372,000 was nearly unchanged from the operating loss in the first quarter of the prior year as cost reductions undertaken by the Company in the latter part of the fiscal year 2003 offset the impact of the lower level of revenue in this year’s first quarter. The difference in the operating loss and the net loss in the prior year’s first three months was primarily due to a one-time gain of $98,000 recognized upon the June 2002 closure of the Company’s non-operating subsidiary, of which $86,000 was due to cumulative foreign currency translation amounts.

SourcingLink’s Chairman and CEO Marcel van Heesewijk said, “SourcingLink is pursuing several significant opportunities for its solution and its services. Our recently announced $500,000 equity financing with institutional investors will provide additional working capital, which is important given the lengthy sales cycles in our business.

“We are successfully completing our multi-year services contract with Carrefour, which has been a major source of revenue and cash flow for the Company over the last three years. With an anticipated lower revenue base, we continue to evaluate measures to reduce the Company’s cost structure while we aggressively market to our target customers.”

About SourcingLink:

SourcingLink (www.SourcingLink.net) is a provider of business-to-business merchandise sourcing solutions for the retail industry, providing strategic services and hosted solutions that enable retail buyers and their suppliers from around the world to market, source and negotiate with speed and improved margin.

SourcingLink and MySourcingCenter are registered trademarks of SourcingLink.net, Inc.

Any statements in this announcement about future events or outcomes are preliminary and based on partial information and assumptions, and actual results may differ materially. The matters discussed in this announcement contain forward-looking statements that involve risks and uncertainties, including, but not limited to, the successful deployment of new Web-based technologies and solutions, the development and growth of markets targeted by SourcingLink, the continued employment of key employees, the acceptance of electronic collaborative solutions, services and exchanges by retailers and suppliers, the successful and timely marketing and sales of the Company’s services and solutions with retailers, suppliers and exchanges, the continuation of agreements with significant business partners, subsequent competition and the impact of supply chain exchanges, general economic conditions in the U.S. and abroad, and other risks detailed from time to time in the Company’s public disclosure filings with the U.S. Securities and Exchange Commission. Copies of the most recent forms 10KSB and 10QSB of SourcingLink are available upon request from its corporate office. SourcingLink expressly disclaims any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or otherwise to revise or update any oral or written forward-looking statement that may be made from time to time by or on behalf of the Company.

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SourcingLink.net, Inc. (SNET)

Condensed Statements Of Operations

(Unaudited)

	Three months ended June 30,
	2003			2002
Revenue	$	527,000		$	906,000
Cost of revenue		234,000			308,000
Gross profit		293,000			598,000
Operating expenses:
Selling, general and administrative		567,000			814,000
Product development		98,000			157,000
Total operating expenses		665,000			971,000
Operating loss		(372,000	)		(373,000	)
Other income, net		1,000			94,000
Net loss	$	(371,000	)	$	(279,000	)
Net loss per common share (basic and diluted)	$	(0.04	)	$	(0.03	)
Weighted average number of shares used in per share calculation (basic and diluted)		9,363,000			9,357,000

Condensed Balance Sheets

(Unaudited)

	June 30, 2003		March 31, 2003
ASSETS
Current assets:
Cash and cash equivalents	$	1,076,000	$	1,346,000
Accounts receivable, net		177,000		171,000
Other current assets		97,000		59,000
Total current assets		1,350,000		1,576,000
Property and equipment and other non-current assets		148,000		175,000
Total assets	$	1,498,000	$	1,751,000
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities	$	997,000	$	879,000
Total stockholders' equity		501,000		872,000
Total liabilities and stockholders' equity	$	1,498,000	$	1,751,000

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