CDSI Reports 2000 Fourth Quarter and Full Year Financial Results.Business Editors MIAMI--(BUSINESS WIRE)--April 2, 2001 CDSI CDSI Comisión de Estudio para el Desarrollo de la Sociedad de la Información CDSI Cross Domain Semantic Integration CDSI Credit Default Swap Index Holdings Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CDSI) today reported financial results for the 2000 fourth quarter and the full year period ended December December: see month. 31, 2000. As previously announced, in October October: see month. of 2000, Controlled Distribution Systems, Inc., a wholly-owned subsidiary of CDSI Holdings completed the sale of the assets of its cigarette cigarette Paper-wrapped roll of finely cut tobacco for smoking. Cigarette tobacco is usually milder than cigar tobacco. The Aztecs and other New World peoples smoked tobacco in hollow reeds, in canes, or wrapped in leaves, but it was in pipes and as cigars (cut tobacco vending route. As the vending route constituted the only current source of revenue for CDSI Holdings, the Company realized no revenue in fourth quarter 2000. The net loss applicable to common shares in the fourth quarter was $16,270, or $0.01 per common share, compared to a net loss applicable to common shares of $509,893 or $0.16 per common share, in the 1999 period. Full year 2000 revenues were $255,949, compared to revenues of $431,587 in 1999. In 2000, the net loss applicable to common shares was $198,340, or $0.06 per common share, compared to a net loss applicable to common shares of $2,673,239 or $0.86 per common share, in 1999. CDSI, a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , holds a minority interest in ThinkDirectMarketing.com, Inc., an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the application service provider that develops and distributes direct marketing and customer relationship products and services. CDSI intends to explore investments in other Internet-related businesses as well as other business opportunities. As CDSI has only limited cash resources, CDSI's ability to complete any investment opportunities it may identify will depend on its ability to raise additional financing, as to which there can be no assurance.
CDSI Holdings Inc. and subsidiaries
Unaudited Condensed Consolidated Statements of Operations
Three months ended Twelve Months
December 31, December 31,
2000 1999 2000 1999
Revenues $ - $ 99,004 $ 255,949 $ 431,587
Costs and expenses:
Costs of revenues - 322,447 219,814 593,273
Research and development - 18,352 12,616 122,355
Sales and marketing - 67,063 22,580 451,465
Amortization of
intangible assets - 4,443 45,491 402,503
General and
administrative 19,924 200,878 164,007 1,078,107
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19,924 613,183 464,508 2,647,703
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Operating loss (19,924) (514,179) (208,559) (2,216,116)
Other income (expense):
Interest and other
income 3,654 5,030 10,664 45,545
Interest expense - (744) (445) (744)
Equity in loss of
ThinkDirectMarketing.com - - - (501,924)
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3,654 4,286 10,219 (457,123)
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Net loss $ (16,270) $(509,893) $(198,340)$(2,673,239)
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Net loss per share
(basic and diluted) $ (0.01) $ (0.16) $ (0.06) $ (0.86)
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Shares used in computing
net loss per share 3,120,000 3,120,000 3,120,000 3,120,000
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