exv99w1
Exhibit 99.1
FINANCIAL STATEMENTS
eCOST.com, Inc.
BALANCE SHEETS
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September 30, |
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December 31, |
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2005 |
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2004 |
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(Unaudited) |
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(In thousands, except |
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share data) |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
6,290 |
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$ |
8,790 |
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Short-term investments |
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— |
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7,000 |
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Accounts receivable, net of allowance for doubtful
accounts of $360 and $199 at September 30, 2005 and
December 31, 2004, respectively |
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5,080 |
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2,039 |
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Inventories, net |
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6,737 |
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1,794 |
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Prepaid expenses and other current assets |
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894 |
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263 |
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Due from Affiliate, net |
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— |
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813 |
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Deferred income taxes |
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— |
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883 |
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Total current assets |
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19,001 |
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21,582 |
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Property and equipment, net |
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1,868 |
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342 |
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Deferred income taxes |
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— |
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4,467 |
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Other assets |
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179 |
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123 |
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Total assets |
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$ |
21,048 |
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$ |
26,514 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
7,015 |
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$ |
585 |
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Accrued expenses and other current liabilities |
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3,208 |
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2,635 |
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Due to Affiliate, net |
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1,082 |
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— |
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Deferred revenue |
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1,167 |
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2,014 |
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Total current liabilities |
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12,472 |
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5,234 |
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Total liabilities |
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12,472 |
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5,234 |
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Commitments and contingencies (Note 5)
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Stockholders’ equity: |
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Preferred stock, $0.001 par value; 10,000,000 shares
authorized; none issued and outstanding |
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— |
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— |
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Common stock, $0.001 par value; 100,000,000 shares
authorized; 17,747,133 and 17,465,000 shares issued and
outstanding
at September 30, 2005 and December 31,
2004, respectively |
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18 |
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17 |
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Additional paid-in capital |
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34,152 |
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33,834 |
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Deferred stock-based compensation |
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(958 |
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(1,333 |
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Accumulated deficit |
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(24,636 |
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(11,238 |
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Total stockholders’ equity |
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8,576 |
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21,280 |
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Total liabilities and stockholders’ equity |
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$ |
21,048 |
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$ |
26,514 |
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The accompanying notes are an integral part of these financial statements.
F-1
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