Friday, Jan 17, 2003
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By Our Special Correspondent
For the quarter ended September 2002, the cash loss was $3.18 million.
The revenue is up to $10.82 million in the quarter under review, up from $8.70 million in the same quarter during the preceding year. During the quarter ended September 2002, the revenue was at $9.67 million.
The cash burn (net reduction in cash) was $3.96 million during the quarter ended December 2002. This included a one-time payment of $1.2 million toward renewal of directors and officers liability insurance policy for a one-year period.
Cash and cash equivalents as at the end of quarter ended December 2002 was $21.7 million (including $16.5 million received in December 2002 out of the planned investments from Softbank Asia Infrastructure Fund and Venture Tech).
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