Exhibit 99.2 | ||||||||
Bankrate, Inc. | ||||||||
Condensed Consolidated Balance Sheets | ||||||||
(Unaudited) | ||||||||
December 31, | December 31, | ||||||
2006 | 2005 | ||||||
Assets | |||||||
Cash and cash equivalents | $ | 109,925,360 | $ | 3,479,609 | |||
Accounts and notes receivable, net of allowance for doubtful accounts of approximately | |||||||
$2,155,000 at December 31, 2006 and $1,630,000 at December 31, 2005, respectively | 15,801,403 | 8,838,879 | |||||
Deferred income taxes, current portion | 1,703,747 | 6,445,636 | |||||
Insurance claim receivable | - | 85,575 | |||||
Prepaid expenses and other current assets | 1,032,423 | 481,677 | |||||
Total current assets | 128,462,933 | 19,331,376 | |||||
Furniture, fixtures and equipment, net | 1,703,680 | 1,063,307 | |||||
Deferred income taxes | 1,262,279 | 28,769 | |||||
Intangible assets, net | 14,441,162 | 11,652,161 | |||||
Goodwill | 30,039,425 | 30,035,399 | |||||
Other assets | 774,117 | 442,211 | |||||
Total assets | $ | 176,683,596 | $ | 62,553,223 | |||
Liabilities and Stockholders' Equity | |||||||
Liabilities: | |||||||
Accounts payable | $ | 312,489 | $ | 3,215,645 | |||
Accrued expenses | 5,237,222 | 5,093,187 | |||||
Deferred revenue | 729,019 | 1,176,119 | |||||
Other current liabilities | 27,427 | 37,187 | |||||
Total current liabilities | 6,306,157 | 9,522,138 | |||||
Other liabilities | 222,920 | 178,133 | |||||
Total liabilities | 6,529,077 | 9,700,271 | |||||
Stockholders' equity: | |||||||
Preferred stock, 10,000,000 shares authorized and undesignated | - | - | |||||
Common stock, par value $.01 per share-- 100,000,000 shares authorized; 18,224,620 and | |||||||
15,857,877 shares issued and outstanding at December 31, 2006 and December 31, 2005, respectively | 182,246 | 158,579 | |||||
Additional paid in capital | 178,255,314 | 70,981,544 | |||||
Accumulated deficit | (8,283,041 | ) | (18,287,171 | ) | |||
Total stockholders' equity | 170,154,519 | 52,852,952 | |||||
Total liabilities and stockholders' equity | $ | 176,683,596 | $ | 62,553,223 |