CDSI Reports 2001 First Quarter Results.Business Editors MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , FL--(BUSINESS WIRE)--May 15, 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 2001 first quarter ended March 31, 2001. 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 source of revenue for CDSI Holdings, the Company realized no revenue in first quarter 2001. The net loss in the first quarter of 2001 was $16,328, or $0.01 per common share, compared to a net loss of $100,472 or $0.03 per common share, in the 2000 period. 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, Inc., an internet 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
March 31,
2001 2000
Revenues $ - $ 71,983
Costs and expenses:
Costs of revenues - 55,910
Research and development - 12,616
Sales and marketing - 16,122
Amortization of intangible assets - 2,963
General and administrative 19,403 87,785
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19,403 175,396
Operating loss (19,403) (103,413)
Other income (expense):
Interest income 3,075 3,062
Interest expense - (121)
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3,075 2,941
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Net loss $ (16,328) $ (100,472)
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Net loss per share (basic and diluted) $ (0.01) $ (0.03)
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Shares used in computing net loss
per share 3,120,000 3,120,000
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