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Previous: NETWORK SYSTEMS INTERNATIONAL INC, 8-K/A, EX-99.2, 2001-01-19 |
Next: NETWORK SYSTEMS INTERNATIONAL INC, 8-K/A, 2001-01-19 |
<PAGE> 1
NETWORK SYSTEMS INTERNATIONAL, INC.
PRO FORMA COMBINING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
EXHIBIT 99.3
<TABLE>
<CAPTION>
Historical interLAN Adjust Pro forma
<S> <C> <C> <C> <C> <C>
Revenues $ -- $4,484,031 $ 4,484,031
Costs and expenses:
Cost of goods sold -- 3,662,009 3,662,009
Selling, general and administrative expense 81,000 606,581 A 39,425 727,006
Interest expense -- 3,695 3,695
------------ ---------- --------- ------------
81,000 4,272,285 39,425 4,392,710
------------ ---------- --------- ------------
Earnings (loss) from continuing operations before taxes (81,000) 211,746 (39,425) 91,321
Income tax expense (benefit) (27,540) 78,688 B (14,982) 36,166
------------ ---------- --------- ------------
Earnings (loss) from continuing operations (53,460) 133,058 (24,443) 55,155
Discontinued operations:
Loss from operations of discontinued operations, less
applicable income tax benefit of $1,762,184 (8,495,293) -- (8,495,293)
Gain on disposal of discontinued operations, less
applicable income taxes of $1,242,342 1,751,891 -- 1,751,891
------------ ---------- --------- ------------
Net loss from discontinued operations (6,743,402) -- -- (6,743,402)
------------ ---------- --------- ------------
Net earnings (loss) (6,796,862) 133,058 (24,443) (6,688,247)
Dividends on preferred shares 32,721 32,721
------------ ---------- --------- ------------
Net loss applicable to common shares $ (6,829,583) $ 133,058 $ (24,443) $ (6,720,968)
============ ========== ========= ============
Earnings (loss) per common share, basic and diluted:
Net earnings (loss) from continuing operations $ (0.01) $ 0.00
Net loss from discontinued operations (0.83) (0.80)
------------ ------------
$ (0.84) $ (0.80)
============ ============
</TABLE>
17
<PAGE> 2
NETWORK SYSTEMS INTERNATIONAL, INC.
PRO FORMA COMBINING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2000
EXHIBIT 99.3
(Continued)
<TABLE>
<CAPTION>
DEBIT CREDIT
<S> <C> <C>
[A]
Amortization expense 39,425
Accumulated amortization, goodwill 39,425
To record amortization of goodwill for one year
[B]
Accrued income taxes payable 14,982
Income tax expense 14,982
</TABLE>
To record the income tax impact of the additional amortization expense
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