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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________ TO __________
COMMISSION FILE NUMBER 0-22047
GO2NET, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 91-1710182
- ------------------------------- ----------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
999 Third Avenue, Suite 4700
Seattle, WA 98104
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(Address of principal executive offices)
(206) 447-1595
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(Registrant's telephone number, including area code)
Check whether the registrant: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
(1) Yes X No
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As of May 6, 1998, there were 4,510,217 shares of the Registrant's common stock
outstanding.
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go2net, Inc.
CONDENSED STATEMENT OF CASH FLOWS
(Unaudited)
<TABLE>
<CAPTION>
Six Months Six Months
Ended Ended
March 31, 1998 March 31, 1997
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<S> <C> <C>
Operating activities:
Net loss .................................... $(1,011,176) $ (775,879)
Adjustments to reconcile net loss to
net cash used in operating activities:
Depreciation and amortization ............... 297,055 37,647
Loss on sale of equipment ................... 328 --
Changes in working capital:
Receivables ................................. (374,300) --
Prepaid expenses and other assets ........... 47,866 (17,506)
Deposits .................................... 7,365 --
Deferred revenue ............................ 22,397 --
Accounts payable and accrued expenses ....... 172,306 29,491
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Net cash used in operating activities ......... (838,159) (726,247)
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Investing activities:
Purchases of investments .................... (7,400,000) --
Acquisition of property and equipment ....... (483,100) (100,765)
Proceeds from sale of equipment ............. 1,100 --
Acquisition of licenses ..................... -- (121,204)
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Net cash used in investing activities ......... (7,882,000) (221,969)
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Financing activities:
Proceeds from Issuance of Common Stock, net.. 88,015 1,517,564
Retirement of Preferred Stock, net .......... -- (1,505,000)
Borrowing on Line of Credit ................. 200,000 125,000
Payment on Line of Credit ................... (200,000) --
Payment on short term borrowing ............. (33,993) --
Proceeds from Stock Subscription Receivable . -- 80,000
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Net cash provided by financing activities ..... 54,022 217,564
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Net decrease in cash and cash
equivalents ................................... (8,666,137) (730,652)
Cash and cash equivalents at beginning
of period ..................................... 10,891,801 865,742
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Cash and cash equivalents at end of period .... $ 2,225,664 $ 135,090
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</TABLE>
See notes to condensed financial statements.
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SIGNATURES
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 thereunto duly authorized.
GO2NET, INC.
Date: May 6, 1998
By: /s/ Russell C. Horowitz
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Russell C. Horowitz
President, Chief Executive Officer,
Chief Financial Officer and Director
(Principal Executive and Accounting
Officer)
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