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