N2H2 (censorware co.) "dead company walking", another step
Continuing my effort to make sense of the finances of the censorware-maker N2H2, ( "dead company walking"), here's my thoughts on their just-issued quarterly report
The key element seems to be that they lost money yet again, though I'll be fair and say it's now not really being hemorrhaged (more like oozing out at this point). They're down to losing another $429,000, or $0.02 for each share of stock. Granted, losing less money is definitely better than losing more money. But loss is still loss.
They apparently managed to be "cash flow positive" again this quarter, from booking revenue from a deal with an Australian ISP. What's interesting is that their revenues haven't increased much: "an increase of 5 percent over 2001's first quarter results". The stemming of the money hemorrhage has been achieved by laying-off people (admittedly, there's a lot of that going around). But as the saying goes, you can only fire people once. Still, the drama continues ...
By Seth Finkelstein | posted in censorware | on January 25, 2003 11:49 PM (Infothought permalink)
