|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: CAN CAL RESOURCES LTD, 3, 2000-07-26 |
Next: BE FREE INC, 424B3, 2000-07-26 |
<PAGE>
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): July 26, 2000 (July 26, 2000)
-----------------------------
BE FREE, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-27271 04-3303188
-------- --------- ----------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
154 Crane Meadow Road, Marlborough, MA 01752
--------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 480-4000
----------------
Not Applicable
--------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Be Free, Inc. (the "Company") is hereby filing this Current Report on Form
8-K regarding the Company's announcement on July 26, 2000 of the following
financial results for its fiscal quarter ended June 30, 2000:
<TABLE>
<CAPTION>
BE FREE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands except share amounts)
Unaudited
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
2000 1999 2000 1999
<S> <C> <C> <C> <C>
Revenue:
Performance marketing
services $ 4,320 $ 863 $ 7,949 $ 1,396
-------- ------- -------- -------
Total revenue 4,320 863 7,949 1,396
Operating expenses:
Cost of revenue 852 137 1,455 238
Sales and marketing 4,746 2,085 8,305 3,350
Client Services 1,798 677 3,325 1,146
Development and engineering 2,729 920 4,297 1,482
General and administrative 1,755 503 2,931 854
Equity related compensation 388 503 660 953
Merger related expenses 13,754 - 19,103 -
-------- ------- -------- -------
Total operating expenses 26,022 4,825 40,076 8,023
Operating loss (21,702) (3,962) (32,127) (6,627)
Interest income (expense), net 2,584 48 3,665 (168)
-------- ------- -------- -------
Net loss (19,118) (3,914) (28,462) (6,795)
Accretion of preferred stock to
redemption value - (604) - (701)
-------- ------- -------- -------
Net loss attributable to common
stockholders $(19,118) $(4,518) $(28,462) $(7,496)
======== ======= ======== =======
Basic and diluted net loss per $(0.31) $(0.36) $(0.49) $(0.59)
share
Shares used in computing basic
and diluted net loss per share 61,963 12,670 58,243 12,644
------------------------------------------------------------------------------------------------------------------------------
Supplemental Data:
Net loss attributable to
common stockholders $(19,118) $(4,518) $(28,462) $(7,496)
Equity related compensation 388 503 660 953
Merger related charges 13,754 - 19,103 -
Accretion of preferred stock
to redemption value - 604 - 701
-------- ------- -------- -------
Adjusted net loss $ (4,976) $(3,411) $ (8,699) $(5,842)
======== ======= ======== =======
Supplemental net loss per $(0.08) $(0.27) $(0.15) $(0.46)
share
Shares used in computing
supplemental net loss per share 61,963 12,670 58,243 12,644
</TABLE>
<PAGE>
BE FREE, INC.
CONSOLIDATED BALANCE SHEETS
(AMOUNTS IN THOUSANDS)
Unaudited
<TABLE>
<CAPTION>
JUNE 30, DECEMBER 31,
2000 1999
<S> <C> <C>
ASSETS
Current assets:
Cash, cash equivalents and marketable securities $120,958 $71,738
Accounts receivable, net of allowance for doubtful accounts 3,251 1,328
Prepaid expenses and other current assets 3,405 1,282
-------- -------
Total current assets 127,614 74,348
Marketable securities 47,561 7,954
Property and equipment, net 15,655 7,967
Intangible assets, net 146,699 -
Other assets 1,817 568
-------- -------
Total assets $339,346 $90,837
======== =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses 9,645 3,883
Deferred revenue 1,951 943
Current portion of long term debt 2,390 943
-------- -------
Total current liabilities 13,986 5,769
Long-term debt, net of current portion 3,694 2,507
-------- -------
Total liabilities 17,680 8,276
Stockholders' equity 321,666 82,561
-------- -------
Total liabilities and stockholders' equity $339,346 $90,837
======== =======
</TABLE>
<PAGE>
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 hereunto duly authorized.
Date: July 26, 2000
BE FREE, INC.
By: /s/ Stephen M. Joseph
-------------------------
Stephen M. Joseph
Chief Financial Officer and Treasurer
|
|