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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
AMENDMENT NO. 1
TO
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 2000
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Commission file number 000-26275
drkoop.com, Inc.
(Exact name of registrant as specified in its charter)
Delaware 95-4697615
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
7000 North Mopac, Suite 400
Austin, Texas 78731
(Address of principal executive offices)
________________
(512) 583-5667
(Registrant's telephone number, including area code)
________________
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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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(2) Yes X No
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As of July 31, 2000 there were 34,912,016 shares of the Registrant's
common stock outstanding.
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drkoop.com, Inc.
AMENDMENT NO. 1
TO
FORM 10-Q
For the Quarter Ended June 30, 2000
This Amendment to the Company's Form 10-Q for the quarter ended June 30, 2000 is
being filed solely for the purpose of correcting a line item to the presentation
of the basic and diluted net loss per share for the six months ended June 30,
1999 in the Income Statement on page 4 of the Company's Form 10-Q for the
quarter ended June 30, 2000 filed on August 21, 2000. The basic and diluted net
loss per share for the six months ended June 30, 1999 should have read $3.75
rather than $1.40. No change was made in the Year 2000 financial statements.
The entire Income Statement, as corrected, is restated below.
No other provision of the Company's Form 10-Q for the quarter ended June 30,
2000 is amended hereby.
Item 1: Financial Information
drkoop.com, Inc.
Condensed Statements of Operations
(in thousands, except per share data)
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended June 30, Six Months Ended June 30,
----------------------------- ---------------------------
<S> <C> <C> <C> <C>
2000 1999 2000 1999
-------- -------- -------- --------
Revenue:
Content subscription and software license $ 854 $ 238 $ 1,683 $ 454
Advertising and sponsorship 1,657 781 5,566 962
E-commerce and other 12 -- 17 7
-------- -------- -------- --------
2,523 1,019 7,266 1,423
-------- -------- -------- --------
Operating expenses:
Production, content and product development 5,361 2,110 11,147 3,145
Sales and marketing 24,916 8,010 44,281 10,058
General and administrative 4,828 1,740 8,830 2,844
Amortization of deferred stock compensation 553 592 1,205 1,074
Write off of investment and intangible assets 7,444 -- 7,444 --
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Total operating expenses 43,102 12,452 72,907 17,121
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Loss from operations (40,579) (11,433) (65,641) (15,698)
Interest income 18 67 323 36
-------- -------- -------- --------
Net loss (40,561) (11,366) (65,318) (15,662)
Accretion of redeemable securities to fair value -- (6,319) -- (17,255)
Dividend to preferred stockholders -- -- -- (9,147)
-------- -------- -------- --------
Net loss attributable to common stockholders $(40,561) $(17,685) $(65,318) $(42,064)
======== ======== ======== ========
Basic net loss per share attributable
common stockholders $(1.18) $(1.28) $(2.01) $(3.75)
======== ======== ======== ========
Weighted average shares used in computing basic
net loss per share attributable to common
stockholders 34,312 13,810 32,555 11,207
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
drkoop.com, Inc.
Date: September 1, 2000 /s/ Richard M. Rosenblatt
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Name Richard M. Rosenblatt
Title: Chief Executive Officer
