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SECURITIES AND EXCHANGE COMMISSION
Washington, DC
FORM 10-Q/A
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ----- EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2000
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or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ----- EXCHANGE ACT OF 1934
For the transition period from _____________ to ________________
Commission file number 0-28284
INFONAUTICS, INC.
(exact name of registrant as specified in its charter)
Pennsylvania 23-2707366
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(State or other jurisdiction (IRS Employer ID No.)
of incorporation of organization)
900 West Valley Road, Suite 1000, Wayne, Pa 19087
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(Address of principal executive offices)
(610) 971-8840
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(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 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. Yes X No
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Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
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Class Outstanding at March 31, 2000
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Class A Common Stock, no par value 12,075,483
Class B Common Stock, no par value 100,000
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DOCUMENTS INCORPORATED BY REFERENCE
None.
PRELIMINARY NOTE:
This Form 10-Q/A is being filed to report a correction in Part I, Item 1, Note 3
of the Notes to Consolidated Financial Statements to the Form 10-Q filed on May
15, 2000. No other changes to the Form 10-Q filed on May 15, 2000 are made by
this filing.
PART I: FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
3. INVESTMENT IN AFFILIATES:
During January 2000, the Company's equity interest in bigchalk.com was diluted
from 30.89% to 30.28% of the outstanding common stock as a result of a private
financing closed by bigchalk.com. For the three months ended March 31, 2000, the
Company expensed $2,499,000 as its equity in the unaudited losses of
bigchalk.com for the corresponding quarter.
The Company also incurred $696,241 of content royalties and $240,083 of
technical services fees to bigchalk.com during the three months ended March 31,
2000. These costs were the result of our content and technical services
agreements with bigchalk.com. At March 31, 2000, $646,695 is due to bigchalk.com
for these content royalties and technical services fees.
The unaudited statement of operations of bigchalk.com for the three months ended
March 31, 2000 is as follows, in millions:
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Net revenues $ 8
Gross profit 5
Loss from
continuing operations (7)
Net loss available to
common shareholders (8)
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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.
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INFONAUTICS, INC.
(Registrant)
Dated: May 16, 2000
By:/s/GERARD J. LEWIS, JR.
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Gerard J. Lewis, Jr.
Vice President & General Counsel, Secretary
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