Salon Media Group, Inc. Quarterly Cash Flow Statement (Come Read the Tea Leaves!)

Salon Media Group, Inc. ^ | December 28, 2002

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Salon Media Group, Inc. Quarterly Income Statement

Display Annual Data

Income Statement

Period Ending:	Sep 30, 2002	Jun 30, 2002	Mar 31, 2002	Dec 31, 2001
Total Revenue	$1,023,000	$972,000	$951,000	$1,128,000
Cost Of Revenue	$1,221,000	$1,173,000	$1,061,000	$1,157,000
Gross Profit	($198,000)	($201,000)	($110,000)	($29,000)
Operating Expenses
Research And Development	$161,000	$162,000	$165,000	$162,000
Selling General And Administrative Expenses	$954,000	$1,159,000	$955,000	$1,002,000
Non Recurring	N/A	N/A	N/A	N/A
Other Operating Expenses	$93,000	$134,000	$121,000	$121,000
Operating Income	($1,406,000)	($1,656,000)	($1,351,000)	($1,314,000)
Total Other Income And Expenses Net	($25,000)	($7,000)	($2,000)	$5,000
Earnings Before Interest And Taxes	($1,431,000)	($1,663,000)	($1,353,000)	($1,309,000)
Interest Expense	N/A	N/A	N/A	N/A
Income Before Tax	($1,431,000)	($1,663,000)	($1,353,000)	($1,309,000)
Income Tax Expense	N/A	N/A	N/A	N/A
Equity Earnings Or Loss Unconsolidated Subsidiary	N/A	N/A	N/A	N/A
Minority Interest	N/A	N/A	N/A	N/A
Net Income From Continuing Operations	($1,431,000)	($1,663,000)	($1,353,000)	($1,309,000)
Nonrecurring Events
Discontinued Operations	N/A	N/A	N/A	N/A
Extraordinary Items	N/A	N/A	N/A	N/A
Effect Of Accounting Changes	N/A	N/A	N/A	N/A
Other Items	N/A	N/A	N/A	N/A
Net Income	($1,431,000)	($1,663,000)	($1,353,000)	($1,309,000)
Preferred Stock And Other Adjustments	($50,000)	N/A	N/A	($65,000)
Net Income Applicable To Common Shares	($1,481,000)	($1,663,000)	($1,353,000)	($1,374,000)

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Salon Media Group, Inc. Quarterly Balance Sheet	Display Annual Data
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	Balance Sheet

Period Ending	Sep 30, 2002	Jun 30, 2002	Mar 31, 2002	Dec 31, 2001
Current Assets
Cash And Cash Equivalents	$266,000	$388,000	$1,542,000	$2,080,000
Short Term Investments	N/A	N/A	N/A	N/A
Net Receivables	$361,000	$399,000	$326,000	$457,000
Inventory	N/A	N/A	N/A	N/A
Other Current Assets	$253,000	$200,000	$212,000	$226,000
Total Current Assets	$880,000	$987,000	$2,080,000	$2,763,000
Long Term Assets
Long Term Investments	N/A	N/A	N/A	N/A
Property Plant And Equipment	$1,008,000	$1,149,000	$1,299,000	$1,487,000
Goodwill	N/A	N/A	$3,555,000	N/A
Intangible Assets	$6,493,000	$6,736,000	$7,979,000	$1,040,000
Accumulated Amortization	N/A	N/A	$4,349,000	N/A
Other Assets	$608,000	$778,000	$778,000	$7,267,000
Deferred Long Term Asset Charges	N/A	N/A	N/A	N/A
Total Assets	$8,989,000	$9,650,000	$11,342,000	$12,557,000
Current Liabilities
Payables And Accrued Expenses	$1,615,000	$1,613,000	$1,542,000	$2,165,000
Short Term And Current Long Term Debt	$714,000	N/A	$231,000	N/A
Other Current Liabilities	$693,000	$652,000	$563,000	$678,000
Total Current Liabilities	$3,022,000	$2,265,000	$2,336,000	$2,843,000
Long Term Debt	N/A	N/A	$77,000	N/A
Other Liabilities	$437,000	$214,000	$152,000	$173,000
Deferred Long Term Liability Charges	N/A	N/A	N/A	N/A
Minority Interest	N/A	N/A	N/A	N/A
Negative Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$3,459,000	$2,479,000	$2,565,000	$3,016,000
Stock Holders Equity
Misc Stocks Options Warrants	N/A	N/A	N/A	N/A
Redeemable Preferred Stock	N/A	N/A	N/A	N/A
Preferred Stock	N/A	N/A	N/A	N/A
Common Stock	$14,000	$14,000	$14,000	$14,000
Retained Earnings	($79,740,000)	($78,259,000)	($76,596,000)	($75,243,000)
Treasury Stock	N/A	N/A	N/A	N/A
Capital Surplus	$85,283,000	$85,458,000	$85,416,000	$84,871,000
Other Stockholder Equity	($27,000)	($42,000)	($57,000)	($101,000)
Total Stockholder Equity	$5,530,000	$7,171,000	$8,777,000	$9,541,000
Net Tangible Assets	($963,000)	$435,000	($2,757,000)	$8,501,000

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Salon Media Group, Inc. Quarterly Cash Flow Statement	Display Annual Data
More filings for Salon Media Group, Inc. available from EDGAR Online.  Get a Free Trial to EDGAR Online Premium

Cash Flow Statement

Period Ending:	Sep 30, 2002	Jun 30, 2002	Mar 31, 2002	Dec 31, 2001
Net Income	($1,431,000)	($1,663,000)	($1,353,000)	($1,309,000)
Cash Flow Operating Activities
Depreciation	$384,000	$641,000	$556,000	$554,000
Adjustments To Net Income	$21,000	$27,000	$5,000	$26,000
Changes in Operating Activities
Changes In Accounts Receivables	$41,000	($85,000)	$131,000	($214,000)
Changes In Liabilities	$83,000	($35,000)	($291,000)	$95,000
Changes In Inventories	N/A	N/A	N/A	N/A
Changes In Other Operating Activities	$135,000	$12,000	$11,000	$83,000
Cash Flows From Operating Activities	($767,000)	($1,103,000)	($941,000)	($765,000)
Cash Flow Investing Activities
Capital Expenditures	N/A	N/A	($1,000)	N/A
Investments	N/A	N/A	N/A	N/A
Other Cashflows From Investing Activities	N/A	N/A	N/A	N/A
Cash Flows From Investing Activities	N/A	N/A	($1,000)	N/A
Cash Flow Financing Activities
Dividends Paid	N/A	N/A	N/A	N/A
Sale Purchase Of Stock	N/A	N/A	$467,000	($3,000)
Net Borrowings	$645,000	($51,000)	($63,000)	($72,000)
Other Cashflows From Financing Activities	N/A	N/A	N/A	N/A
Cash Flows From Financing Activities	$645,000	($51,000)	$404,000	($75,000)
Effect Of Exchange Rate	N/A	N/A	N/A	N/A
Change In Cash And Cash Equivalents	($122,000)	($1,154,000)	($538,000)	($840,000)

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[Timesink]

ping!

So, who can decipher the real meaning of these fourth-quarter numbers?

I notice they were able to drop the fifth-character C, going from SALNC.OB to SALN.OB. How'd they manage that?

[Drango]

The Salon death sprial sure is slooooooooow. We've seen these numbers before as the reflect the close ending in September. These numbers sucked then and then suck now.

As to the lost "C" that might be good for them! The "C" was forced upon them by NASDEQ and indicated a company on "probation". As Salon is now demoted to "over the counter" or "penny stock" status they are no longer regulated. The lack of regulation will mean they no longer have to file reports so we may not get any more information out of them.

As far as I know, they exist month-to-month.

[HighWheeler]

"So, who can decipher the real meaning of these fourth-quarter numbers?"

OK here's a short wrapup:

Salon lost $122,000 in cash, and only have $266,000 left in the bank.

The total amount of money owed to them went down by 9.5%

They owe creditors $3.45M, but have only about $2.00M in tanglible assets.

They lost a total of just under $1.5M in the last quarter.

They are doing such a lousy job at capitalism, that they lost money on every dollar of sales. To scale their operations, it costs them $122 each to make their products, but they can only sell their products for $102 each.

These liberals ARE PAYING NO TAXES EITHER.

[Mind-numbed Robot]

The biggest thing on the plus side for them is "Intangible Assets". What is that? Goodwill, intellectual capital, copyrights, etc.? If so, it amounts to near zero.

[HighWheeler]

"Intangible Assets" is one of those BS entries that the SEC is trying to get companies to downplay. It can make the books look better, yet is not objectively measurable.

I ignored it on my summary, since no one needs any intangible assets from a bunch of liberal journalists. You can get it by the truckload in the tangible form in the fields of a dairy farm.

[doug from upland]

They stayed solvent long enough to help spin for the Sinkmaster. They served their purpose and now it is time to go the way of those who were impacted by the Clintons --- they go to the crapper. Hey, at least none of the writers were found dead in a park, dead in prison because they weren't given heart medication, or dead from a suicide of six bullets.