Replies to post #726 on Univercell Holdings (UVCL)

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From ETrade : Power E*TRADE Pro. EOM

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From BAM ENTERTAINMENT INC May-24-2004 20040331

We have experienced recurring net losses from inception (October 7, 1999) through March 31, 2004. During the nine months ended March 31, 2004, we used cash in operating activities of $6.1 million and incurred a net loss of $11.2 million. As of March 31, 2004, we had cash and cash equivalents of $290,000 and an accumulated deficit of $71.0 million. These factors, among others, raise substantial doubt about our ability to continue as a going concern for a reasonable period of time. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of recorded liabilities that might be necessary should we be unable to continue as a going concern.


We have a history of operating losses and may never achieve profitability.

We incurred net losses of $11.2 million for the nine months ended March 31, 2004, $36.2 million for the year ended June 30, 2003, $15.7 million for the year ended June 30, 2002, and $1.6 million for the year ended June 30, 2001. We will need to generate significant revenues and control expenses to achieve profitability. There can be no assurance that our revenues will grow in the future or that we will achieve sufficient revenues for profitability. If we fail to achieve profitability, or sustain or increase profitability if we achieve it, this will have a negative impact on our operating results.