Communicate.com Inc. Announces Third Quarter Financial Results.Business Editors VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 11, 2002 Communicate.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CMNN), an owner and developer of intuitive domain names Intuitive domain names are domain names based on generic words (not proper names or tradenames) which a user may use to make up a likely website name which he looks for on the internet in case that website exists and is relevant to what the word means. , today announced the filing of its Form 10-QSB and financial results for the third quarter ended September 30, 2002.
Financial Summary
COMMUNICATE.COM INC.
Financial Highlights (Unaudited)
Three Months ended Three months ended
September 30, 2002 September 30, 2001
Revenues $99,108 $37,520
Expenses $69,465 $85,608
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Operating Income (Loss) $29,644 ($48,088)
Interest Expense ($11,788) (8,662)
Gain on Settlement of Debts $54,403 $68,688
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Net Income (loss) $72,258 $11,938
Basic Earnings (Loss) Per Share $0.01 $0.00
Weighted Average Number of
Common Shares Outstanding 14,691,339 14,191,339
Consolidated Balance Sheet Highlights (Unaudited)
September 30, 2002 December 31, 2001
Current Assets $88,421 $125,931
Fixed Assets $13,654 $17,432
Intangible Assets $3,058,389 $3,341,577
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Total Assets $3,160,464 $3,484,940
Total Liabilities $755,086 $1,348,637
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Total Stockholders' Equity $2,405,378 $2,136,303
David Jeffs, President, states that the results continue to reflect the successful execution of the Company's reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. implemented in the last quarter of 2000. "Our focus on generating cash-flow is working as the Company proves that it can convert the traffic from its portfolio of generic domains into revenue. At the same time we continue to lower our expenses and to payoff our debts. So far in fiscal 2002, the Company has reduced its total liabilities by almost $600,000 by converting debt to equity, by debt renegotiation and by debt repayment. Management will continue to improve the current business model and identify new revenue streams with a focus on generating positive cash-flows. As previously disclosed, Management believes the travel business continues to hold promise and has made efforts in forming business relationships through its travel division, FrequentTraveller.com." About Communicate.com Inc. Communicate owns and operates a roster of more than 30 intuitive, generic domains including Makeup makeup In the performing arts, material used by actors for cosmetic purposes and to help create the characters they play. Not needed in Greek and Roman theatre because of the use of masks, makeup was used in the religious plays of medieval Europe, in which the angels' faces .com, Boxing.com and Automobile.com. Communicate capitalizes on the network of generic domain names' ability to intuitively attract customers to their pre-established brand. Statements in this press release which are not historical are 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. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, risks associated with market acceptance and technological changes, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . These risks may cause results to differ materially from those projected in the forward-looking statements. |
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