XM Radio 2000 Annual Report Download - page 32

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FiNANCiALS 2000
CONSOLiDATED STATEMENTS OF STOCKHOLDERS’ EQUiTY (DEFiCiT)
(In thousands, except share data) (In thousands, except share data)
Issuance of common stock
(December 15, 1992) .................................... — $ — — $ — — $ — — $ — 100 $ — — $ — $ — $ — $ —
Balance at December 31, 1992 ...................... — — — — — — — — 100 — — — — — —
Net loss ........................................................ — — — — — — — — — — — — — — —
Balance at December 31, 1993 ...................... — — — — — — — — 100 — — — — — —
Net loss ........................................................ — — — — — — — — — — — — — — —
Balance at December 31, 1994 ...................... — — — — — — — — 100 — — — — — —
Net loss ........................................................ — — — — — — — — — — — — — — —
Balance at December 31, 1995 ...................... — — — — — — — — 100 — — — — — —
Net loss ........................................................ — — — — — — — — — — — — — — —
Balance at December 31, 1996 ...................... — — — — — — — — 100 — — — — — —
Contributions to paid-in capital ........................ — — — — — — — — — — — — 143 — 143
Issuance of common stock and
capital contributions.................................... — — — — — — — — 25 — — — 9,000 — 9,000
Issuance of options ........................................ — — — — — — — — — — — — 1,500 — 1,500
Net loss ........................................................ — — — — — — — — — — — — — (1,659) (1,659)
Balance at December 31, 1997 ...................... — — — — — — — — 125 — — — 10,643 (1,659) 8,984
Net loss ........................................................ — — — — — — — — — — — — — (16,167) (16,167)
Balance at December 31, 1998 ...................... — — — — — — — — 125 — — — 10,643 (17,826) (7,183)
53,514-for-one stock split .............................. — — — — — — — — 6,689,125 67 — — (67) — —
Initial public offering ........................................ — — — — — — 10,241,000 102 — — — — 114,032 — 114,134
Conversion of Series A convertible debt .......... 10,786,504 108 — — — — 16,179,755 162 — — — — 246,079 — 246,349
Conversion of subordinated convertible
notes payable to related party .................... — — — — — — — — 11,182,926 112 — — 106,843 — 106,955
Increase in FCC license, goodwill and intangibles .. — — — — — — — — — — — — 51,624 — 51,624
Charge for beneficial conversion feature
of note issued to Parent.............................. — — — — — — — — — — — — 5,520 — 5,520
Issuance of shares to employees
through stock option and purchase plans .... — — — — — — 29,862 1 — — — — 303 — 304
Non-cash stock compensation ........................ — — — — — — 14,716 — — — — — 4,210 — 4,210
Net loss ........................................................ — — — — — — — — — — — — — (36,896) (36,896)
Balance at December 31, 1999 ...................... 10,786,504 108 — — — — 26,465,333 265 17,872,176 179 — — 539,187 (54,722) 485,017
Secondary public offering................................ — — — — — — 4,370,000 44 — — — — 132,026 — 132,070
Sale of Series B convertible redeemable ..........
preferred stock .......................................... — — 2,000,000 20 — — — — — — — — 96,452 — 96,472
Sale of Series C convertible redeemable
preferred stock .......................................... — — — — 235,000 2 — — — — — — 226,820 — 226,822
Incentivized conversion of Series B ................
convertible redeemable preferred stock ...... — — (1,132,711) (11) — — 1,700,016 17 — — — — (6) — —
Sale of warrants to purchase ..........................
Class A common stock .............................. — — — — — — — — — — — — 63,536 — 63,536
Conversion of Class B common stock .............. — — — — — — 1,314,914 13 (1,314,914) (13) — — — — —
Series B convertible redeemable......................
preferred stock dividends ............................ — — — — — — 145,166 1 — — — — (1) — —
Issuance of shares to employees through
stock option and purchase plans.................. — — — — — — 73,565 1 — — — — 1,164 — 1,165
Non-cash stock compensation ........................ — — — — — — 5,000 — — — — — 2,743 — 2,743
Net loss ........................................................ — — — — — — — — — — — — — (51,873) (51,873)
Balance at December 31, 2000 ...................... 10,786,504 $ 108 867,289 $ 9 235,000 $ 2 34,073,994 $ 341 16,557,262 $ 166 — $ — $1,061,921 $ (106,595) $ 955,952
See accompanying notes to consolidated financial statements.
Series B Convertible
Redeemable Preferred Stock
Series C Convertible
Redeemable Preferred Stock
Series A Convertible
Preferred Stock
Shares Amount Shares Amount Shares AmountShares Amount
Class A Common Stock Class B Common Stock
Shares Amount Shares Amount
Class C Common Stock
Additional
Paid-in
Capital
Deficit
Accumulated
During
Development
Stage
Total
Stockholders’
Equity
(Deficit)
XM SATELLiTE RADiO 2000 Annual Report 31
RADiO TO THE POWER OF X
30 XM SATELLiTE RADiO 2000 Annual Report