EX-99.1 2 0002.txt EXHIBIT 99.1 UNAUDITED FINANCIAL INFORMATION EXHIBIT 99.1
AMERIGON INCORPORATED STATEMENT OF OPERATIONS (In thousands, except per share data) Ended December 31, Ended December 31, ------------------ ------------------ 2000 1999 2000 1999 -------- -------- -------- -------- Product sales $ 3,209 $ 289 $ 6,886 $ 336 Product cost 2,992 715 6,274 778 Gross Margin 217 (426) 612 (442) Operating expenses: Research and development 1,101 960 4,099 3,721 Selling, general and administrative 2,045 956 6,088 3,481 Total costs and expenses 3,146 1,916 10,187 7,202 Operating loss (2,929) (2,342) (9,575) (7,644) Interest income 49 34 201 135 Interest expense - (5) (2,607) (30) Loss on disposal of assets - (17) - (36) Loss before extraordinary item (2,880) (2,330) (11,981) (7,575) Extraordinary gain from extinguishment - - 707 - of debt Net loss $(2,880) $(2,330) $(11,274) $(7,575) ======== ======== ========= ========= Net loss available to common $(2,880) $(2,330) $(11,274) $(15,842) shareholders ======== ======== ========= ========= Basic and diluted net loss per share: Loss before extraordinary gain $(0.65) $(1.22) $(3.65) $(8.29) Extraordinary gain from - - 0.22 - extinguishment of debt Net loss $(0.65) $(1.22) $(3.43) $(8.29) ======== ======== ========= ========= Weighted average number of common 4,428 1,910 3,283 1,910 shares outstanding
AMERIGON INCORPORATED BALANCE SHEET (In thousands) December 31, December 31, ASSETS 2000 1999 ------------ ------------ Current Assets: Cash & cash equivalents (1) $ 2,852 $ 1,647 Accounts receivable less allowance of $55 1,375 282 and $58, respectively Inventory 1,478 490 Prepaid expenses and other assets 487 251 ------- ------- Total current assets 6,192 2,670 Property and equipment, net 1,383 1,051 Deferred exclusivity fee 1,170 - ------- ------- Total assets $ 8,745 $ 3,721 ======= ======= LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 1,376 $ 592 Accrued liabilities 1,446 597 Deferred Revenue 170 - ------- ------- Total current liabilities 2,992 1,189 Long term portion of capital lease 5 11 ------- ------- Total liabilities 2,997 1,200 ------- ------- Mandatorily redeemable preferred stock: Series A - Preferred Stock - no par value; redeemable and convertible; 9 shares authorized, none and 9 issued and outstanding at December 31, 2000 and 1999 - 8,267 ------- ------- Shareholders' equity (deficit): Preferred Stock: Series A - no par value; convertible; 9 shares authorized, 9 and none issued and outstanding at December 31, 2000 and 1999; liquidation preference of $9,945 8,267 - Common Stock; No par value; 20,000 shares authorized, 4,428 and 1,910 issued and outstanding at December 31, 2000 and 1999 37,947 28,149 Paid-in capital 14,689 10,059 Deferred compensation (1) (74) Accumulated deficit (55,154) (43,880) ------- ------- Total shareholders' equity (deficit) 5,748 (5,746) ------- ------- Total liabilities and shareholders' $ 8,745 $ 3,721 equity (deficit) ======= ======= (1) At December 31, 2000, includes $1,000,000 returned from escrow originally opened on October 20, 2000 and subsequently terminated.