CDSI Reports 2001 Second Quarter Results.Business Editors MIAMI--(BUSINESS WIRE)--Aug. 14, 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 second quarter ended June June: see month. 30, 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, which constituted the only source of revenue for CDSI Holdings. As a result, the Company realized no revenue in the second quarter 2001. The Company's net income in the second quarter of 2001 was $85,655, or $0.03 per common share, compared to a net loss of $70,616 or $0.02 per common share, in the 2000 period. For the six months ended June 30, 2001, the Company recorded a net gain of $69,327, or $0.02 per common share, compared to a net loss of $171,088, or 0.05 per common share, for the 2000 six-month 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 Six months ended
June 30, June 30,
2001 2000 2001 2000
Revenues $ - $ 105,047 $ - $ 177,030
Costs and expenses:
Costs of revenues - 94,573 - 150,483
Research and development - - - 12,616
Sales and marketing - 6,458 - 22,580
Amortization of
intangible assets - 42,528 - 45,491
General and
administrative 16,278 34,060 35,681 121,845
------- ------- ------- -------
16,278 177,619 35,681 353,015
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Operating loss (16,278) (72,572) (35,681) (175,985)
Other income (expense):
Interest income 1,933 2,130 5,008 5,192
Interest expense - (174) - (295)
Collection of note
receivable from
ThinkDirectMarketing 100,000 - 100,000 -
------- ------- ------- -------
101,933 1,956 105,008 4,897
------- ------- ------- -------
Net income (loss) $ 85,655 $ (70,616) $ 69,327 $ (171,088)
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Net income (loss)
per share (basic
and diluted) $ 0.03 $ (0.02) $ 0.02 $ (0.05)
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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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