SELECTED FINANCIAL HIGHLIGHTS – INVISA, INC.
 4th Qtr 2003  4th Qtr 2004 Increase / (Decrease)  YE 12-31 2003  YE 12-31 2004
Statement of operations
Net sales 59,045 90,265 31,220 52.9% 212,679 197,484
Cost of goods sold 38,410 36,785 (1,625) -4.2% 128,971 102,162
Gross profit 20,635 53,480 32,845 159.2% 83,708 95,322
Research and development costs 192,911 61,012 (131,899) -68.4% 558,277 510,133
Selling, general and administrative expenses 2,201,843 585,776 (1,616,067) -73.4% 5,179,864 3,027,369
Income from continuing operations (2,374,119) (593,308) 1,780,811 -75.0% (5,654,433) (3,442,180)
Debt extinguishment gain - - - n/a - (360,000)
Impairment of patent 5,517,808 - (5,517,808) -100.0% 5,517,808 -
Income / (Loss) from operations (7,891,927) (593,308) 7,298,619 -92.5% (11,172,241) (3,082,180)
Interest expense, net 39,626 (2,020) (41,646) -105.1% 565,864 (15,360)
Net loss (7,931,553) (591,288) 7,340,265 -92.5% (11,738,105) (3,066,820)
Non-cash constructive dividend related to beneficial conversion features of convertible preferred stock - - - n/a - (1,296,640)
Net loss applicable to common stockholders (7,931,553) (591,288) 7,340,265 -88.5% (11,738,105) (4,363,460)
Net loss per share applicable to common stockholders: basic and diluted - - - - (0.73) (0.22)
Weighted average common stock shares outstanding: basic and diluted - - - - 16,173,841 19,899,052
Balance sheet data YE 12-31 2003 YE 12-31 2004 Increase / (Decrease)
Cash and cash equivalents 260,536 590,588 330,052 126.7%
Current assets 546,825 715,992 169,167 30.9%
Current liabilities 2,508,154 496,177 (2,011,977) -80.2%
Working capital (1,961,329) 219,815 2,181,144 n/m
Total assets 7,336,860 6,754,087 (582,773) -7.9%
Total liabilities 2,858,488 796,177 (2,062,311) -72.1%
 

Invisa, Inc., 6935 15th Street East, Suite 120, Sarasota, Florida 34243 USA; Tel 941.355.9361; Fax 941.355.9373