XM Radio 1999 Annual Report Download - page 31
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29 1999 ANNUAL REPORT
CONSOLiDATED STATEMENTS OF OPERATiONS
December 15, 1992
(date of inception)
to December 31,
1997 1998 1999 1999
(in thousands, except share data)
Revenue............................................................ $ — $ — $ — $ —
Operating expenses:..........................................
Research and development .................... — 6,941 4,274 11,215
Professional fees................................... 1,090 5,242 9,969 16,301
General and administrative ..................... 20 4,010 16,448 20,478
Total operating expenses ............... 1,110 16,193 30,691 47,994
Operating loss............................... (1,110) (16,193) (30,691) (47,994)
Other income (expense): ....................................
Interest income ..................................... — 26 2,916 2,942
Interest expense.................................... (549) — (9,121) (9,670)
Net loss........................................ $ (1,659) $ (16,167) $ (36,896) $ (54,722)
Net loss per share:............................................
Basic and diluted................................... $ (0.26) $ (2.42) $ (2.40)
Weighted average shares used in computing
net loss per share-basic and diluted............. 6,368,166 6,689,250 15,344,102
See accompanying notes to consolidated financial statements.