18
WINNERS ALL INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED JULY 31,
-----------------------------------------------
1995 1994 1993
------------ ------------ -----------
REVENUES $ -- $ 2,014,576 $ 137,454
------------ ------------ -----------
Cost and Expenses
Cost of Sales -- 481,122 --
Royalty Expense 233,920 583,332 291,667
General and Administrative 1,238,606 1,582,114 400,272
Depreciation and Amortization -- 243,439 162,239
Bad Debts 307,371 -- --
Share of WinNet Loss 1,470,751 -- --
------------ ------------ -----------
3,250,648 2,890,007 854,178
------------ ------------ -----------
(Loss) Before other Expenses (3,250,648) (875,431) (716,724)
------------ ------------ -----------
Other (Expense):
Loss on Disposal of Assets (1,992,011) -- --
Loss on Investments (1,817,413) -- --
------------ ------------ -----------
Total Other (Expense): (3,809,424) -- --
------------ ------------ -----------
Net (Loss) $ (7,060,072) $ (875,431) $ (716,724)
============ ============ ===========
NET LOSS PER COMMON SHARE $ (0.52) $ (0.07) $ (0.08)
============ ============ ===========
AVERAGE SHARES OUTSTANDING 13,487,258 12,055,413 8,912,940
============ ============ ===========
SEE INDEPENDENT AUDITORS' REPORT AND
ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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