On2.com Reports 1999 Fourth Quarter and Year-End Results
On2.com (http://www.on2.com) announced fourth quarter and year-end financial results for December 31, 1999.
Revenues for the fourth quarter ended December 31, 1999 were $154,569compared to $21,001 for the same period in 1998. Net loss for the fourthquarter 1999 was $5,198,779, or $0.22 per share, compared to a net loss of$981,444, or $0.06 per share, in the comparable period in 1998. Revenues forthe year ended December 31, 1999 were $178,112 with a net loss of $10,087,542,or $0.51 per share. For the year ended December 31, 1998 (unaudited),revenues were $903,999 with a net loss of $3,506,224, or $0.23 per share.
On2.com moved to the AMEX and raised $14.6 million in private equity financing on June 1999 and an additional $10.1 million in December 1999.
On2.com recently launched its broadband entertainment site On2movies.com (http://www.on2movies.com) with original programming and plans to build other sites, as well.