DIGITAL ROOSTER.COM INC.
CONSOLIDATED FINANCIAL STATEMENTS
NINE MONTHS ENDED DECEMBER 31, 1999, DECEMBER 31, 2000
(EXPRESSED IN U.S. DOLLARS)
DIGITAL ROOSTER.COM INC.
NINE MONTHS ENDED DECEMBER 31, 1999, DECEMBER 31, 2000
CONTENTS
PAGE
Consolidated Financial Statements:
Consolidated Balance Sheet 1
Consolidated Statement of (Deficit) Retained Earnings 2
Consolidated Statement of Operations 3
Consolidated Statement of Cash Flows 4
DIGITAL ROOSTER.COM INC.
CONSOLIDATED BALANCE SHEETS
(EXPRESSED IN U.S. DOLLARS)
DECEMBER 31, DECEMBER 31,
AS AT 2000 1999
(UNAUDITED) (UNAUDITED)
=================================================================================
A S S E T S
-----------
CURRENT
Cash and short-term investment $ - $ 12,704
Accounts receivable 40,659 46,000
Prepaids and sundry receivables 56,664 17,673
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97,323 76,377
DUE FROM SHAREHOLDERS - 2,605
CAPITAL ASSETS 124,479 81,342
GOODWILL 183,842 -
DUE FROM JAZZ MONKEY MEDIA INC.
- 79,485
---------- ----------
$ 405,644 $ 239,809
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L I A B I L I T I E S
---------------------
CURRENT
Accounts payable and accrued liabilities $ 168,875 $ 64,463
Income tax payable 1,610 -
DEFERRED REVENUE - -
LOANS PAYABLE - -
DUE TO SHAREHOLDERS 56,799 -
NOTE PAYABLE. 59,992 -
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287,276 64,463
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S H A R E H O L D E R S' E Q U I T Y
------------------------------------
CAPITAL STOCK 749,985 430,287
TRANSLATION ADJUSTMENT (960) (3,104)
(DEFICIT) RETAINED EARNINGS (630,657) (251,837)
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118,368 175,346
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$ 405,644 $ 239,809
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2.
DIGITAL ROOSTER.COM INC.
CONSOLIDATED STATEMENT OF (DEFICIT) RETAINED EARNINGS
(EXPRESSED IN U.S. DOLLARS)
DECEMBER 31, DECEMBER 31
FOR THE PERIODS ENDED 2000 1999
(9 MONTHS) (9 MONTHS)
(UNAUDITED) UNAUDITED)
================================================================================
BALANCE - Beginning of period $(325,419) $ 84,817
Net (loss) income (305,238) (336,653)
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BALANCE - End of period $(630,657) $(251,836)
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3.
DIGITAL ROOSTER.COM INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(EXPRESSED IN U.S. DOLLARS)
DECEMBER 31, DECEMBER 31,
FOR THE PERIODS ENDED 2000 1999
(9 MONTHS) (9 MONTHS)
(UNAUDITED) (UNAUDITED)
================================================================================
REVENUES $1,401,747 $ 977,546
COST OF SALES 377,931 478,035
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GROSS PROFIT 1,023,816 499,511
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EXPENSES
Administrative 617,221 511,114
Selling 436,110 166,489
Computer 209,625 136,057
Interest 25,715 19,368
Amortization of capital assets 34,225 -
Amortization of goodwill 6,158 3,136
----------- ----------
1,329,054 836,164
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NET (LOSS) INCOME $ (305,238) $(336,653)
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4.
DIGITAL ROOSTER.COM INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(EXPRESSED IN U.S. DOLLARS)
DECEMBER 31, DECEMBER 31,
FOR THE PERIODS ENDED 2000 1999
(9 MONTHS) (9 MONTHS)
(UNAUDITED) (UNAUDITED)
================================================================================
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income $(305,237) $(336,653)
Adjustment for non-cash items:
Amortization of capital assets 25,715 19,368
Amortization of goodwill 34,225 -
Non-cash expenses - -
Translation adjustment (4,358) (7,431)
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(249,655) (324,716)
Changes in non-cash operating items
74,674 (17,051)
---------- ----------
CASH FLOWS (USED IN) PROVIDED BY
OPERATING ACTIVITIES (174,981) (341,767)
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CASH FLOWS FROM FINANCING ACTIVITIES
Advances from (to) shareholders 26,527 33,302
Advances from (to) Jazz Monkey Media Inc. 148,633 (79,485)
Issuance of capital stock - 429,595
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CASH FLOWS PROVIDED BY (USED IN)
FINANCING ACTIVITIES 175,160 383,412
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CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of capital assets (66,903) (43,065)
---------- ----------
CASH FLOWS USED IN INVESTING
ACTIVITIES (66,903) (43,065)
---------- ----------
INCREASE (DECREASE) IN CASH FROM
BUSINESS ACTIVITIES (66,724) (1,420)
CASH - Beginning of period 66,724 14,124
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CASH AND SHORT -
TERM INVETMENT - End of period $ - $ 12,704
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5.