[2] C2i Solutions Announces Third Quarter, Nine Month Results.SAN DIEGO--(BUSINESS WIRE)--Nov. 15, 1999-- C2i Solutions Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CTWO CTWO Center for Third World Organizing ), a company focused on business to business e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. solutions, and information technology services today announced results for its third quarter and first nine months ended Sept. 30, 1999. Revenues for this year's third quarter were $57,480, compared to $137,730 for the same period in the previous year. The net loss for the third quarter was $705,746 or $0.20 per share, compared to a net loss of $731,078, or $0.21 per share, for the same quarter of 1998. For the first nine months of 1999, revenues were $458,073, with a net loss of $1,667,646, or $0.47 per share, compared to revenues of $308,189 and a net loss of $1,973,187 or $0.60 per share for the first nine months of the previous year. C2i intends to achieve its strategic objectives by acquiring backbone backbone: see spinal column. The part of a network that handles the major traffic. It employs the highest-speed transmission paths in the network and may also run the longest distances. capabilities, merging with regional ISP's offering Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. and development services, and partnering with independent software vendors. This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including without limitation statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc C2i's strategy, and potential benefits that involve certain risks and uncertainties. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may affect these forward looking statements are availability of resources to pursue opportunities, potential difficulties in identifying, obtaining agreement with and integrating the target companies, and competitive conditions in the rapidly changing e-commerce marketplace. These and other significant risks are discussed in more detail in the Company's 1998 Annual Report on Form 10-KSB, as filed with the Securities and Exchange Commission on March 26, 1999. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . -0-
C2i Solutions Inc.
(A Development Stage Company)
Condensed Statements of Operations
(Unaudited)
Period from
Three Months Nine Months (Sept. 17,
Ended Ended 1996)
Sept. 30, Sept. 30, through
1999 1998 1999 1998 Sept. 30,
1999
Revenues:
Services 57,480 92,730 458,073 248,974 1,078,123
Products -- 45,000 -- 59,215 118,848
Total
revenues 57,480 137,730 458,073 308,189 1,196,971
Cost of Revenues:
Services -- 39,819 255,074 112,318 522,449
Products
Customers -- 33,769 -- 43,069 64,852
Former
stockholder -- -- -- -- 17,652
Total cost
of revenues -- 73,588 255,074 155,387 604,953
Gross
profit 57,480 64,142 202,999 152,802 592,018
Selling,
general and
administrative
expenses 381,682 814,705 1,475,219 2,083,552 6,217,284
Operating
loss (324,202) (750,563) (1,272,220) (1,930,750) (5,625,266)
Interest
and dividend
income (17,872) (80,163) (64,718) (159,444) (285,446)
Interest
expense 307 516 1,119 21,366 44,645
Interest
expense to
former
employees -- -- -- -- 3,105
Other expense
(income) (3,827) 41 7,544 120,394 127,740
Loss realized
on sale of
short-term
investment -- 60,121 48,545 60,121 703,306
Write-off
of note
receivable 402,936 -- 402,936 -- 402,936
Net loss (705,746) (731,078) (1,667,646) (1,973,187) (6,621,552)
Loss per
share
(basic and
diluted) (0.20) (0.21) (0.47) (0.60) N/A
Shares used
in computing
loss per
share 3,553,267 3,542,171 3,545,910 3,299,268 N/A
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