![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, August 22, 2001 2:13:10 AM
The birth of Primal http://www.primal.com/press/releases/new_primal_symbol.pdf
Number of shares outstanding as of the close of business on August 14, 2001:
TITLE OF CLASS NUMBER OF SHARES OUTSTANDING
-------------- ----------------------------
Common Stock, $0.01 par value. 20,356,269
Net stockholders' equity............................. 5,652,075 8,432,197
----------- -----------
$10,121,109 $12,985,492
=========== ===========
PRIMAL SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Six Months Ended
Three Months Ended June 30, June 30,
---------------------------- ------------------------
2001 2000 2001 2000
------------- ------------- ----------- -----------
(Unaudited)
REVENUES:
System revenue........ $ 545,874 $ 523,765 $ 1,077,850 $ 1,179,785
Service revenue....... 1,319,996 1,570,549 2,431,538 2,888,011
------------- ------------- ----------- -----------
Total revenues...... 1,865,870 2,094,314 3,509,388 4,067,796
Cost of systems....... 580 699 23,539 28,316
Cost of services...... 752,973 859,921 1,690,361 1,737,677
------------- ------------- ----------- -----------
COST OF REVENUES........ 753,553 896,620 1,713,900 1,765,993
------------- ------------- ----------- -----------
GROSS MARGIN............ 1,112,317 1,197,694 1,795,488 2,301,803
OPERATING EXPENSES:
Research and
development.......... 492,804 1,044,749 1,414,028 2,065,063
Sales and marketing... 436,393 577,620 952,658 1,256,861
(Gain) Loss on lease
abandonment.......... (1,311,898) -- 286,013 --
General and
administrative....... 894,159 688,465 1,904,940 1,454,204
------------- ------------- ----------- -----------
Total operating
expenses........... 511,458 2,310,834 4,557,639 4,776,128
------------- ------------- ----------- -----------
INCOME (LOSS) FROM
OPERATIONS............. 600,859 (1,113,140) (2,762,151) (2,474,324)
INTEREST AND OTHER
EXPENSE, net........... (47,269) (66,637) (81,862) (77,863)
------------- ------------- ----------- -----------
INCOME (LOSS) BEFORE
INCOME TAX PROVISION... 553,590 (1,179,777) (2,844,013) (2,552,187)
INCOME TAX PROVISION.... 1,600 (667,809) 1,600 (667,809)
------------- ------------- ----------- -----------
NET INCOME (LOSS)....... $ 551,990 $ (511,968) $(2,845,613) $(1,888,378)
============= ============= =========== ===========
Basic and diluted net
income (loss) per
share.................. $ 0.03 $ (0.03) $ (0.14) $ (0.10)
Weighted-average basic
common shares
outstanding............ 20,356,269 19,696,957 20,210,565 19,696,957
Weighted-average diluted
common shares
outstanding............ 20,648,751 19,696,957 20,210,565 19,696,957
Primal software operates with
telecommunications equipment from major manufacturers such as Cisco Systems,
Inc., Lucent Technologies, Inc., and Nortel Networks, Inc.
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