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Previous: HARVEY ENTERTAINMENT CO, 8-K, EX-3.(I), 2000-06-02 |
Next: GENZYME TRANSGENICS CORP, S-8, 2000-06-02 |
<PAGE> 1
EXHIBIT 99
THE HARVEY ENTERTAINMENT COMPANY
PART I - FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
CONSOLIDATED BALANCE SHEET (UNAUDITED)
<TABLE>
<CAPTION>
Pro-forma
March 31, March 31,
ASSETS 2000 2000
------------ -----------
<S> <C> <C>
Cash and cash equivalents $ 2,167,000 $ 2,167,000
Marketable securities 1,846,000 1,846,000
Other investments 500,000 500,000
Accounts receivable, net of allowances for doubtful accounts of $287,000 690,000 690,000
Prepaid expenses and other assets 1,011,000 1,011,000
Income tax receivable 540,000 540,000
Film inventory, net of accumulated amortization of $9,124,000 11,819,000 11,819,000
Fixed assets, net of accumulated depreciation of $793,000 489,000 489,000
Goodwill, net of accumulated amortization of $1,384,000 1,211,000 1,211,000
Trademarks, copyrights and other intangibles net of accumulated 1,247,000 1,247,000
amortization of $462,000
----------- -----------
TOTAL ASSETS $21,520,000 $21,520,000
=========== ===========
</TABLE>
<PAGE> 2
THE HARVEY ENTERTAINMENT COMPANY
PART I - FINANCIAL STATEMENTS
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CONSOLIDATED BALANCE SHEET (UNAUDITED) (CONTINUED)
<TABLE>
<CAPTION>
Pro-forma
March 31, March 31,
LIABILITIES AND STOCKHOLDERS' EQUITY 2000 2000
------------ ------------
<S> <C> <C>
LIABILITIES
Accounts payable and accrued expenses $ 569,000 $ 569,000
Accrued marketing expenses 892,000 892,000
Participations payable 664,000 664,000
Accrued rent 56,000 56,000
------------ ------------
Total liabilities 2,181,000 2,181,000
------------ ------------
Series A convertible preferred stock, $100 stated value, 300,000 shares
authorized, 203,000 shares issued and outstanding at March 31, 2000,
liquidation preference of $20,264,000 at March 31, 2000. On a
pro-forma basis 134,000 shares issued and outstanding and liquidation
preference of $13,366,000 16,725,000 11,021,000
------------ ------------
STOCKHOLDERS' EQUITY
Preferred stock, $1 par value, 3,000,000 shares authorized (300,000 shares
have been designated as Series A convertible preferred stock) -- --
Series B convertible preferred stock, $100 stated value. On a pro-forma
basis 300,000 shares authorized and 69,000 shares issued and
outstanding at March 31, 2000 -- 6,946,000
Common stock, no par value, 30,000,000 shares authorized 4,187,000
issued and outstanding 22,268,000 22,268,000
Additional paid in capital 4,523,000 3,785,000
Accumulated other comprehensive income (3,228,000) (3,228,000)
Accumulated deficit (20,949,000) (21,453,000)
------------ ------------
Total stockholders' equity 2,614,000 8,318,000
------------ ------------
LIABILITIES AND STOCKHOLDERS' EQUITY $ 21,520,000 $ 21,520,000
============ ============
</TABLE>
<PAGE> 3
THE HARVEY ENTERTAINMENT COMPANY
PART I - FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
<TABLE>
<CAPTION>
Pro-forma
Three months Three months
ended March 31, ended March 31,
2000 2000
-------------- ----------------
<S> <C> <C>
OPERATING REVENUES
Merchandising and licensing $ 882,000 $ 882,000
Publishing -- --
----------- -----------
Net operating revenues 882,000 882,000
OPERATING EXPENSES
Cost of sales 206,000 206,000
Selling, general and administrative expenses 1,143,000 1,143,000
Amortization of film inventory -- --
Amortization of goodwill, trademarks, copyrights and other 93,000 93,000
Depreciation expense 38,000 38,000
----------- -----------
Total operating expenses 1,480,000 1,480,000
----------- -----------
LOSS FROM OPERATIONS (598,000) (598,000)
OTHER (EXPENSES)/INCOME (2,000) (2,000)
INTEREST INCOME/EXPENSE, NET 64,000 64,000
----------- -----------
NET LOSS $ (536,000) $ (536,000)
Preferred stock dividend (349,000) (349,000)
Excess of the fair value of Series B convertible preferred stock issued
less the carrying amount of Series A convertible preferred stock
redeemed and the associated beneficial conversion feature on Series A
convertible preferred stock redeemed -- (504,000)
----------- -----------
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS $ (885,000) $(1,389,000)
=========== ===========
NET LOSS PER SHARE OF COMMON STOCK
Basic and diluted $ (0.21) $ (0.33)
=========== ===========
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic and diluted 4,187,000 4,187,000
=========== ===========
</TABLE>
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