DGAP-Ad hoc: MatchNet PLC <MHJG> deutsch - 500 Beiträge pro Seite

[ad_hoc [wO]]

DGAP-Ad hoc: MatchNet PLC <MHJG> deutsch

MatchNet plc weiter profitabel

Ad-hoc-Mitteilung verarbeitet und übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist der Emittent verantwortlich.

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MatchNet plc weiter profitabel

Frankfurt, 30. August 2002

Die am Neuen Markt notierte Internetpartnervermittlung Matchnet plc (WKN 930129) erreicht im 1. Halbjahr 2002 einen Umsatz in Höhe von USD 7,8 Millionen im Vergleich zu USD 4,2 Millionen im Vorjahreshalbjahr.

Das EBITDA wuchs auf USD 1,1 Millionen von USD -0,6 Millionen im Vergleichszeitraum 2001. Das Nettoergebnis stieg auf USD 930,000 (1. Halbjahr 2001 USD - 6,6 Millionen).

MatchNet bleibt damit profitabel und sieht die eingeschlagene Unternehmensstrategie bestätigt. Den kompletten Halbjahresbericht finden Sie im IR-Bereich auf der Homepage von MatchNet unter http://www.matchnet.com .

IR Kontakt:

Elmar Bob Tel.:[phone] Fax: [phone] E-Mail: [e-mail] URL: http://www.MatchNet.com

Ende der Ad-hoc-Mitteilung (c)DGAP 30.08.2002

Informationen und Erläuterungen des Emittenten zu dieser Ad-hoc-Mitteilung:

Über MatchNet plc

Die 1998 in England gegründete MatchNet plc, gelistet am Neuen Markt in Frankfurt, ist international führend als Anbieter von Webseiten für Single- Dating-Services. MatchNet umfaßt ein ausgeprägtes Netzwerk von Webseiten, wie AmericanSingles.com, MatchNet.de, MatchNet.co.uk, und MatchNet.com.au. Zusätzlich operiert das Unternehmen mit JDate.com und JDate.co.il, dem marktführenden jüdischen Single-Dating Service. Ebenfalls zu MatchNet gehört GayH.com, ein führender Online Dating Service für homosexuelle Frauen und Männer. MatchNet hat weltweit über sieben Millionen dauerhafte Mitglieder. Umsätze generiert MatchNet hauptsächlich aus Mitgliedsbeiträgen und besonderen Events. Weitere Informationen über MatchNet finden Sie auf der Seite http://www.matchnet.com .

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WKN: 930129; ISIN: US5766601042; Index: Notiert: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: import DGAP.DE (© DGAP),17:01 30.08.2002

[ipo.trader]

???

Diese widersprüchliche Reaktion kann ich nicht nachvollziehen. Sorry.

Sollte ich etwas übersehen haben, ich bin ganz Ohr.

[_Spock_]

Diese Meldung und dann -20%. Ich versteh` es auch (noch) nicht.
Wo ist der Haken?

Die Aussage "weiter profitabel" deutet aber m.E. schon darauf hin, daß
irgendwo ein Haken ist...
Klingt irgendwie nach "gerade noch profitabel aber vielleicht nicht mehr lange..."

Hier steht allerdings auch nur das Halbjahresergebnis. Wahrscheinlich
erschließt sich das Übel, wenn man das 2. Quartal einzeln betrachtet!

[Dr. Motte, Berlin]

das dreieck adhoc zu qualität des unternehmens und kursreaktion stellt keinen widerspruch dar... es ist programm!

[ipo.trader]

Der Kurs zieht auch schon wieder an.
Vielleicht war es auch wieder das altbekannte Spiel:
Unlimitiert raus, um günstiger einsteigen zu können. Nur Kleinanleger waren das nicht...

[Stoneeagle]

ab 20:01 wird es interessant...das hier ist kein Spiel für Kiddies. Das ist Psychologie pur.

[FernetPunker]

stoneeagle !

[latzikatz]

ja, nur was für die ganz harten jungs!!!
cu.

[latzikatz]

SA-Kurs 1,45 - suuper!!

[unruhhr]

Das wird wohl doch noch etwas dauern

[Stoneeagle]

YES!!! Montag back on track!


Highlights of the First Six Months of 2002
(compared to the first six months of 2001)
Financial Highlights
30 June 2002 30 June 2001 Change
Revenues (in US dollars) 7,800,731 4,261,049 83%
EBITDA* (in US dollars) 1,125,327 (634,397) n/a
Net Income (Loss) (in US dollars) 937,288 (6,060,886) n/a
Cash EPS** (in US dollars) 0.06 (0.04) n/a
EPS (in US dollars) 0.05 (0.37) n/a
Employees 70 50
Membership Highlights
30 June 2002 30 June 2001 Change
Total Membership 7,849,710 3,548,199 121%
AmericanSingles.com
(& related sites) Members 5,532,024 3,133,550 77%
MatchNet.de Members 269,167 116,640 131%
MatchNet.co.uk Members 98,347 42,336 132%
MatchNet.com.au Members 57,975 22,342 159%
JDate.com Members 348,934 223,605 56%
JDate.co.il Members 34,032 n/a n/a
Gay11.com Members 536,192 n/a n/a
FaceLink.com Members 973,039 n/a n/a
* EBITDA is defined as Earnings Before Interest, Taxes, Depreciation and Amortisation and does
not take into account any gains or losses on marketable securities or foreign currency
transactions.
** Cash EPS is calculated on our EBITDA, as defined in the footnote above.
Page 3 of 19
MatchNet in Brief
MatchNet plc∗ is one of the world’s leaders in the Internet dating industry. Our
flagship site is AmericanSinglesTM.com in the United States. MatchNet also owns and
operates several international sites, including MatchNet.de in Germany,
MatchNet.co.uk in the UK, and MatchNet.com.au**.
We also focus on major niche markets. Our JDate.com website dominates the Jewish
online dating market in the English-speaking world, and the Hebrew version is one of
Israel’s largest services. Our Gay11.com website, launched in autumn 2001, is already
the second largest dating site targeting the gay and lesbian market.
In addition, MatchNet also owns and operates FaceLink.com a leading high traffic
picture profile website in the US, which allows its members to create their own
personal “FacePage”.
Our main office is in Los Angeles, California, USA, where we develop our own
database and web site technology. We also maintain sales and marketing offices in
London, England and Frankfurt/Main, Germany, the latter also being the base for our
investor relations staff.
∗ “MatchNet”, “we”, “our”, or any other similar terms, are used in this report to designate MatchNet
plc, and any wholly or partly owned subsidiaries of MatchNet plc. In addition, “MatchNet”, “JDate”,
and “FaceLink” are registered trademarks of MatchNet plc and “AmericanSingles” and “Gay11”
are trademarks of MatchNet plc.
** Matchnet.com.au and its members are owned by MatchNet Australia Ltd, of which MatchNet plc is
a 49% shareholder.
Page 4 of 19
Business Developments during the First Six Months of 2002
Note: In this Report, all references to “$” are to US dollars.
Business Overview and Industry Development
MatchNet continued to grow during the first six months of 2002, with significant
increases in revenues and profits over the previous period. In addition, during the first
half of 2002 total membership in our dating services passed the six million mark,
solidifying our leadership position in the online dating industry.
Throughout the first half of 2002, the online dating industry as a whole continued to be
one of the few B2C areas on the Internet that gained in reputation and acceptance
as a valid e-commerce business model. The most significant industry event during the
period was the acquisition, by a major competitor, of a privately owned Australian
dating service, roughly a quarter of MatchNet’s size in both membership and
financial terms, for approximately $23 million. We believe that this transaction
confirms the market value of online dating services and highlights the fact that on a
peer group comparison, our share price is undervalued.
Company Developments
The most important development in the first half of 2002 was our purchase of the
FaceLink.com website from FaceLink, Inc. FaceLink.com is a Web site that uses
humans to humanize the Internet. The site allows consumers to create their own
"FacePage," a Web page that displays a personal photo along with a short
biography. FaceLink strives to deliver fast and simple ways for people to express their
unique identities and share themselves with others around the world. During the latter
part of the period, we began to see the results of the acquisition, as FaceLink.com
became the leading referrer of members to Gay11.com
The other important development of the period was the launch of a new
technological platform. This global platform is intended to service all of MatchNet’s
websites and has an ability to conform to international languages and currency
systems. The new platform was first deployed for AmericanSingles during the latter
half of the period. This new platform incorporates instant messaging and other
features, such as pre-written “teases” which can be sent by one member to another –
together with a link directly back to that member’s profile, that are designed to
increase our uptake of recurring subscription revenues from registered members. In
addition, the look and feel of AmericanSingles was completely re-designed.
Although the launch of the new platform affected revenues during the second
quarter of 2002, primarily due to required downtime on AmericanSingles as well as
post-launch debugging (which has been resolved), together with a reduction in
marketing efforts during this process, in the long-term we expect to see an increased
rate of subscription growth due to a higher rate of conversion of members to paying
subscribers.
Membership Development
In America, our flagship site, AmericanSingles.com added 970,971 members since the
end of the 2001 for at total of 5,532,024 members at the end of the first half of 2002.
Marketing for AmericanSingles focused on online partnerships and affiliates. In
addition, the promotion of AmericanSingles on the newly acquired FaceLink site also
helped add members. The number of subscription transactions during the first half of
2002 increased 85% over the number of subscription transactions during the first half
of 2001.
Page 5 of 19
JDate.com remained the dominant dating web site in the Jewish singles market
growing to 348,934 members in the US and 34,032 in Israel (Hebrew language) at the
end of June 2002. The number of subscription transactions in the first half of 2002
increased by 34% over the number of subscription transactions during the first quarter
of 2001.
Gay11.com, our gay and lesbian relationship dating site, had 536,192 members by
the end of the first half of 2002. The site has benefited significantly from our
acquisition of FaceLink.com, which is primarily used by the gay and lesbian online
community, and which is the top referrer of new registered members. We continued
to build the Gay11 brand with marketing campaigns that included online advertising
on search engines and targeted websites; print ad campaigns in top nationallydistributed
American gay and lesbian magazines, and corporate sponsorship of such
events as the Aspen (Colorado) Gay and Lesbian Ski Week.
FaceLink.com had 973,039 picture profiles at the end of June 2002. Subsequent to
our acquisition of the FaceLink.com, in February 2002, we migrated the website and
databases to MatchNet’s servers and platform and we also discontinued public
“adult” picture profiles on the site in line with our Company policy.
At the end of June 2002, German membership in our databases showed a 131%
increase from the end of June 2001. British membership increased 132% in the same
period and Australian members increased by 159%.
Capital Increases
During the first quarter of 2002, two persons exercised options to purchase an
aggregate of 65,000 of MatchNet’s ordinary shares for an aggregate price of $63,099.
During the second quarter of 2002, one warrant holder exercised warrants to
purchase 608,848 of MatchNet’s ordinary shares for a price of $656,000. In addition,
two persons exercised options to purchase an aggregate of 95,812 of MatchNet’s
ordinary shares for an aggregate price of $71,458.
Page 6 of 19
Management Discussion and Analysis
For the six months ended 30 June 2002
Revenues for the six month period ended 30 June 2002 (the “2002 6 Month Period”)
were $7,800,731, an increase of 83% over revenues of $4,261,049 for the six month
period ended 30 June 2001 (the “2001 6 Month Period”). The principal reason for the
increase in revenues was the increase in membership in our databases as a result of
the further acceptance of online dating as a paid services model. In addition we
continued to introduce various upgrades to our websites that helped to increase the
conversion of free memberships to paid subscriptions. Also, our newest site, Gay11
had not been launched until after the 2001 6 Month Period and therefore did not
contribute to revenues during that period.
Cost of revenues, which includes direct marketing costs, were $2,379,042 in the 2002 6
Month Period compared with $1,188,096 in the 2001 6 Month Period. This increase
was due mainly to the increased number of members and traffic on our sites, as well
as the addition of new services and technology. As a percentage of revenues, cost
of revenues were 30% in the 2002 6 Month Period, compared to 28% in the 2001 6
Month Period. Importantly, although revenues increased 83% over the previous
period, as noted above, the proportion of cost of revenues to total revenues
increased by only 7%.
Operating expenses were $4,263,362 in the 2002 6 Month Period, or 55% of revenues,
compared to $3,707,350 in the 2001 6 Month Period, or 87% of revenues. The small
increase in the total amount was a result of added technologies and membership
services. Significantly, operating costs declined 37% as a percentage of revenues
during the relevant periods, which reflects both the inherent scalable nature of the
transactional, recurring subscription model on the Internet and the efficiencies that
the Company has developed in its operations.
As a result of the above, we achieved EBITDA (as defined elsewhere in this report) of
$1,125,327 for the 2002 6 Month Period, or 14% of revenues, compared with a
negative $634,397 in the 2001 6 Month Period. Net income in the 2002 6 Month Period
was $937,288 compared, or 12% of revenues, with a net loss of $6,060,886 in the 2001 6
Month Period. This turnaround reflects not only the factors described above, but also
a significant reduction in our depreciation and amortisation charges.
For the three months ended 30 June 2002
Revenues for the three month period ended 30 June 2002 (“Q2 2002”) were
$3,585,068, an increase of 36% over revenues of $2,637,027 for the three month period
ended 30 June 2001 (“Q2 2001”). The principal reason for the increase in revenues
was the increases in membership in our databases as a result of the further
acceptance of online dating as a paid services model. In addition we continued to
introduce various upgrades to our websites that helped to increase the conversion of
free memberships to paid subscriptions. Also, our newest site, Gay11 was not
launched until the third quarter of 2001 and therefore did not contribute to revenues
during Q2 2001. Finally, the relatively small increase, when compared with the
Company’s previous results, was due to the changeover of AmericanSingles to the
Company’s new technology platform, primarily a result of required downtime and
post-launch de-bugging.
Cost of revenues, which includes direct marketing costs, were $1,364,708 in Q2 2002
compared with $666,837 in Q2 2001, or 38% compared with 25.3% of revenues. This
increase was due mainly to the increased number of conversions at a higher level of
Page 7 of 19
membership and a decision to increase the cost of marketing as a percentage of
revenue when compared with the prior period.
Operating expenses were $2,155,200 in Q2 2002 compared to $1,477,476 in Q2 2001,
or 60% of revenues compared to 57% respectively. This was a 5% increase compared
to a 36% increase in revenues, as noted above, reflecting the scalable nature of our
business.
Despite the difficulties encountered in the technology changeover, MatchNet still
recorded EBITDA of $32,160, or 1% of revenues, in Q2 2002, compared to EBITDA of
$492,714, or 19% of revenues in Q2 2001. Net income was $54,352 for Q2 2002, or 1%
of revenues, compared with a net loss of $4,166,245 for Q2 2001. The turnaround in
net income reflects not only the factors described above, but also a significant
reduction in our depreciation and amortisation costs.
Liquidity and Capital Resources
MatchNet continued to maintain its capital reserves during the 2002 6 Month Period,
despite significant capital and technological investments during Q2 2002, with
$8,406,704 in cash and marketable securities at 30 June 2002 compared with
$7,569,532, at 31 December 2001, an increase of 11% over year end. MatchNet’s
short term investments and marketable securities are held only in the form of US
Government bonds and US Government Corporate bonds which are rated AAA.
Page 8 of 19
Other Details Required by the Neuer Markt Rules and Regulations
Directors Interests
The following table presents Directors shareholding interests at 30 June 2002.
Director Number of
Shares
Change
from
31.3.2002
Number of Options * Change
from
31.3.2002
Joe Y. Shapira 2,557,939 0 (£0.75) 51,500 0
($7.50) 200,000 0
(€1.06) 200,000 0
(€1.10) 500,000 0
(€1.67) 2,000,000 0
Alon Carmel 3,026,939 0 (£0.75) 51,500 0
($7.50) 200,000 0
(€1.06) 200,000
(€1.10) 500,000
(€1.67) 2,000,000 0
Adam Kravitz **4,896 0 (£0.50) 41,424 0
($5.00) 11,580 0
($7.50) 200,000 0
(€1.06) 11,580
(€1.06) 200,000
(€1.67) 500,000 0
Franklin Urteaga 0 0 (€4.50) 100,000 0
(€1.06) 100,000
Florian Homm*** 327,899 0 (€1.67) 700,000 0
* Including warrants. The number in parentheses is the exercise price of the
options or warrants.
** Does not include 16,000 shares held as trustee for unrelated parties.
*** Mr Homm is affiliated with VMR Luxembourg SA. This total does not include
any shares held by VMR Luxembourg SA or its other affiliates
Number of Employees
The average number of employees (on a monthly basis) during the first six months of
2002 was 69. The number of employees at 30 June 2002 was 70.
Page 9 of 19
Revenue Breakdown
Although we report as one business segment under US GAAP, the following table
presents a breakdown of our revenue by source:
Source of Revenue Six Months ended
30 June 2002
Membership Subscriptions $ 7,528,151
Parties and Events 257,726
Advertising and Other 14,854
Total $7,800,731
Investments
Investments during the first six months of 2002 were $1,244,700, n increase from
$1,005,335 in the first six months of 2001. $752,589 of the investments in the first six
months of 2002 relate to our acquisition of assets relating to the FaceLink.com
website.
Research and Development Activities
We continuously engage in the development of applications and technology for the
benefit of increasing functionality and scalability of our services. Once technological
feasibility has been established, the development costs incurred are capitalised until
market feasibility is reached. After that point, costs are amortised.
Developments of Costs and Prices
Subscription prices for our services remained unchanged during the period.
Costs of providing our service remained within our expectations during the period. A
schedule of direct costs is included in the Notes to our Financial Statements.
Events of Particular Significance
None, other than as noted on Pages 2 through 7.
Order Situation; Explanatory Notes Regarding Subscription Rights; Interim Dividends;
Amount of Distribution
Not Applicable.
Page 10 of 19
Recent Developments and Outlook for the Future
Since the end of June 2002, we have essentially completed the major part of the
technology upgrade to AmericanSingles.com, which had depressed results in the
second quarter of 2002 due to business disruptions from required downtime and post
launch de-bugging, together with a reduction in marketing efforts during this process.
As a result, we have seen marked improvement in AmericanSingles.com, both
technologically and from a financial standpoint.
As we move forward into the latter half of 2002, we expect that the improvements
that were made on AmericanSingles.com, such as instant messaging, easier
navigability, and several features which are designed to encourage subscription
purchases from registered members, will have a significant positive impact on the
Company’s financial results.
We are now working on migrating our other sites to the new technological platform.
The planned migration will start with Gay11.com, which is expected to happen in the
fall of 2002, and later moving on to our international sites and JDate.com, which
should be completed by the end of 2002.
During the second quarter of 2002, we hired a Director of Marketing, Asian Services,
with significant experience in the Asian market and have begun development of a
new relationship site targeted at Asian-Americans, in-line with our philosophy of
developing “niche” relationship services. The new site will be launched on the new
technological platform following the migration of our existing sites.
In addition, we have restructured our parties and events department with a focus on
more specialised and value-added JDate events which command higher ticket
prices. We have already run several of these events in the third quarter, which have
been well received and met or exceeded our expectations. We are also launching
Gay11 events later in the third quarter.
More importantly, we have also launched JDate Travel USA, which has sold out a
Bahamas cruise in mid-September in a matter of days, and several additional trips
have been scheduled to satisfy demand. We have also scheduled the launch of
Gay Travel USA, which will market to Gay11.com members, for the fourth quarter of
2002.
June 30, 2002 December 31, 2001
(unaudited) (audited)
ASSETS
Current Assets
Cash and Cash Equivalents 364,643 $ 2,722,011 $
Short-term Investments/Marketable securities 8,042,061 4,847,521
Trade accounts receivable 194,362 184,266
Due from related party 41,400 41,400
Prepaid expenses and other current assets 220,807 1,239,118
Total current assets 8,863,274 9,034,316
Property, plant & equipment 3,022,391 2,924,041
Intangible assets 71,287 37,768
Goodwill 3,588,591 2,802,175
Other Assets 1,945,238 1,896,619
Total Assets 17,490,782 $ 16,694,919 $
LIABILITIES AND STOCKHOLDER`S EQUITY
Current Liabilities:
Short term debt (ordinary shares payable) 217,010 560,000
Trade accounts payable 210,942 $ 355,253 $
Accrued expenses 462,817 $ 341,934 $
Deferred revenues 249,732 669,540
Other current liabilities 101,652 195,652
Total current liabilities 1,242,153 2,122,379
Stockholder`s equity
Ordinary shares; 40,000,000 shares of 1 pence
each, authorized, 18,706,551and 17,937,521
shares issued and outstanding, respectively 299,349 288,244
Additional paid-in capital 34,237,620 33,458,169
Other Comprehensive Loss (51,756)
Accumulated deficit (18,236,585) (19,173,873)
Total Stockholder`s Equity 16,248,629 14,572,540
17,490,782 $ 16,694,919 $
See notes to consolidated financial statements.
MATCHNET PLC
CONSOLIDATED BALANCE SHEETS
(in US dollars)
Page 11 of 19
MATCHNET PLC
CONSOLIDATED STATEMENT OF OPERATIONS
(in US dollars)
(unaudited)
Three months
ended
June 30, 2002
Three months
ended
June 30, 2001
Six months
ended
June 30, 2002
Six months
ended
June 30, 2001
Revenues $ 3,585,068 $ 2,637,027 $ 7,800,731 $ 4,261,049
Cost of Revenues 1,364,708 666,837 2,379,042 1,188,096
Gross Profit 2,220,359 1,970,190 5,421,689 3,072,953
General and Administrative 2,188,200 1,477,476 4,296,362 3,707,350
Depreciation and amortization 222,470 4,747,837 451,268 5,426,489
Operating income/loss (190,310) (4,255,123) 674,059 (6,060,886)
Interest (Income)/Expense (203,247) (121,684) (262,845) (163,089)
Remeasurement loss 0 13,126 0 57,180
Foreign currency exchange
(gain)/losses (9,216) 19,680 (13,902) 117,825
Other Expense 800 0 13,517 0
Net Income (loss) $ 21,352 $ (4,166,245) $ 937,288 $ (6,072,802)
Net income per share (basic) $0.00 ($0.24) $0.05 ($0.37)
Net income per share (diluted) $0.00 ($0.24) $0.05 ($0.37)
Weighted average shares outstanding
(basic) 18,516,239 17,122,547 18,210,244 16,554,484
Weighted average shares outstanding
(diluted) 18,519,666 17,122,547 18,564,187 16,554,484
See notes to consolidated financial statements.
Page 12 of 19
Ordinary shares Other
Shares Amount
subscriptions
Receivable
Additional paidin
capital
comprehensive
loss
Accumulated
deficit
Total shareholders`
equity
Balance at January 1, 2002 17,937,521 288,244 $ - $ 33,458,169 $ - $ (19,173,873) $ 14,572,540 $
Options exercised 160,182 2,356 132,200 134,557
Warrants exercised 608,848 8,749 647,251 656,000
Unrealized loss on marketable securities (51,756) (51,756)
Net profit for the period ended
June 30, 2002 937,288 937,288
Balance at June 30, 2002 18,706,551 299,349 $ - $ 34,237,620 $ (51,756) $ (18,236,585) $ 16,248,629 $
See notes to consolidated financial statements.
MATCHNET PLC
STATEMENT OF SHAREHOLDERS` EQUITY
SIX MONTHS ENDED JUNE 30, 2002
Ordinary Shares
Page 13 of 19
Ordinary shares Other
Shares Amount
subscriptions
Receivable
Additional paid-in
capital
comprehensive
loss
Accumulated
deficit
Total shareholders`
equity
Balance at January 1, 2001 14,837,647 243,314 $ (100,596) $ 30,005,553 $ (443,050) $ (12,433,272) $ 17,271,949 $
Shares issued in
acquistion of SocialNet 2,284,900 43,473 3,381,351 3,424,824 $
Payments on ordinary share
subscriptions receivables 11,051 11,051 $
Unrealized loss on marketable securities (308,706) (308,706)
Net loss for the period ended
June 30, 2001 (6,072,802) (6,072,802)
Balance at June 30, 2001 17,122,547 286,787 $ (89,545) $ 33,386,904 $ (751,756) $ (18,506,074) $ 14,326,316 $
See notes to consolidated financial statements.
MATCHNET PLC
STATEMENT OF SHAREHOLDERS` EQUITY
SIX MONTHS ENDED JUNE 30, 2001
Ordinary Shares
Page 14 of 19
Six months ended Six months ended
June 30, 2002 June 30, 2001
Net Profit/(Loss): $937,288 ($6,072,802)
Cash Flows provided by (used for) operating activities:
Adjustments to reconcile net profit (loss) to net cash
provided by (used for) operating activities:
Depreciation and amortization 368,562 1,067,322
Write off of organizational costs 0 4,359,168
Remeasurement Loss 0 57,180
Loss on foreign currency translations 0 117,825
Changes in assets & liabilities:
(Increase) decrease in assets:
Marketable Securities (3,194,512) 0
Accounts Receivable (10,096) 1,211,259
Prepaid expenses & other current assets 125,280 1,019,520
Intangible assets (828,521) (7,934)
Bonds on deposit - legal proceedings 900,000 (4,236)
Deposits and other assets 186,153 (63,739)
Employee loans (6,969) 0
Capitalized bounty costs (134,760) 0
Increase (decrease) in liabilities:
Accounts payable and accrued expenses (27,327) (3,217,198)
Deferred revenues (382,959) 180,765
Marketing agreements payable (127,000) 0
Payable in shares (342,990) (300,000)
Total adjustments (3,475,139) 4,419,932
Net cash provided by (used for) opera (2,537,851) (1,652,870)
Cash flows used for investing activities:
Due from officers (100,013) 0
Payments to acquire fixed assets (458,306) (433,254)
Capitalization of costs associated with acquisitio 0 (572,081)
Unrealized loss (51,756) 0
Net cash used for investing activities (610,074) (1,005,335)
MATCHNET PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(in US dollars - unaudited)
Page 15 of 19
Cash flows provided by (used for) financing activities:
Payments on obligations under capital leases 0 0
Payments on notes payable 0 (164,115)
Options exercised 790,557 0
Net cash provided by (used for) invest 790,557 (164,115)
Net cash increase (decrease) in cash (2,357,369) (2,822,320)
Cash, at beginning of period 2,722,011 10,072,380
Cash, end of period $364,643 $7,250,060
See notes to consolidated financial statements
(in US dollars - unaudited)
(continued)
MATCHNET PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Page 16 of 19
Page 17 of 19
MATCHNET PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 2002
(1) Basis of Presentation:
Comparative Financial Statements:
The June 30, 2002 financial statements conform to the Deutsche Börse’s Structured
Quarterly Reporting specifications as set forth in the Neuer Markt Rules and
Regulations and have been prepared according to Generally Accepted Accounting
Principles in the US (US GAAP). Certain changes in presentation have been made to
the December 31, 2001 Balance Sheet and June 30, 2001 Statement of Operations for
comparative purposes.
Unaudited Interim Consolidated Financial Statement:
The consolidated condensed financial statements included herein have been
prepared by management. Certain information and note disclosures normally
included in the consolidated financial statements prepared in accordance with
generally accepted accounting principles have been omitted. In the opinion of the
Company’s management, all adjustments (consisting of normal recurring accruals)
necessary to present fairly the Company’s financial position as of June 30, 2002, and
the results of operations and cash flows for the three and six month periods ended
June 30, 2002, have been included. The results of operations for the three and six
month periods ended June 30, 2002 are not necessarily indicative of the results to be
expected for the full fiscal year.
(2) FaceLink.com Acquisition:
On February 21, 2002, the Company acquired certain assets from FaceLink.com Inc.,
including the FaceLink.com website and the related databases, trademarks and
domain names for the aggregate amount of $845,000. Under the purchase
agreement, as amended, the Company has paid approximately $768,000 to date,
and has no further material financial obligation.
(3) Segment Reporting:
Based on the Company’s integration and management strategies, the Company
operates in a single business segment. For the six and three month periods ending
June 30, 2002 and June 30, 2001, all material revenues have been derived from
domestic US operations.
(4) Contingencies and Commitments:
The Company is involved in numerous cases regarding various contracts entered into
by the Company for services, which may or may not have been performed by
plaintiffs. In addition, these are several lawsuits with respect to liabilities existing and
incurred by a subsidiary prior to its acquisition by the Company. The Company
intends to vigorously defend itself in these actions.
Three Months ended Three Months ended
June 30, 2002 June 30, 2001
Direct costs:
Creditcard/check processing fees $147,866 $134,367
Event costs 43,150 42,230
Internet access 54,571 70,666
Advertising Expenses 0 19,164
Licensing agreements 445 5,713
Travel Cost 0 1,260
246,032 273,400
Direct marketing costs:
Online marketing 1,118,677 360,821
Public relations 40,933 32,616
1,118,677 393,437
$1,364,709 $666,837
MATCHNET PLC
CONSOLIDATED SCHEDULES OF COST OF REVENUES
(unaudited)
(in US dollars)
Page 18 of 19
Page 19 of 19
Financial Calendar – 2002
Announcement of Nine Month Results and
Publication of Nine Month Report Week of 25 November 2002
Announcement of 2002 Results and
Publication of Annual Report Week of 24 March 2003
Investor Relations Contact
Mr Elmar Bob ([e-mail])
Executive Vice President
MatchNet plc
Arndtstraße 51
60325 Frankfurt/Main
Germany
Phone: + 49 69 74 09 37 88
Fax: + 49 69 74 09 37 87
Website: www.matchnet.com
Neuer Markt symbol: MHJG
Wertpapierkennnummer: 930 129
Registered Office: Headquarters:
73 Abbey Road 8383 Wilshire Boulevard, Suite 104
London NW8 0AE Beverly Hills, California 90211
England USA
Phone: + 44 20 7644 8989 Phone: + 1 323 836 3000
Fax: + 44 20 7644 8990 Fax: + 1 323 836 3333
Registered in England
Company Number 3628907
Company Registrar: Global Depositary Share Administrator:
Capita IRG Plc The Bank of New York
Bourne House One Wall Street
34 Beckenham Road New York, New York
Beckenham, Kent BR3 4TU 10286
England USA

[susi]

Wo ist denn nun der HJ-Bericht auf der HP ?
Unter : -Investor Relations- steht doch immer noch vom 20.3.2002.
Hätte auch gerne was deutsches in den Händen.
Danke !

[Muud]

Hallo Leute, kann mir einer bitte genau sagen, wo der Halbjahresbericht nachzulesen ist? Auf der
Seite matchnet.com und da bei IR hab ich nichts aktuelles gefunden. Bin übrigens auch gespannt was diese Art der Zahlenveröffentlichung
doch noch während der Börsenstunden u. das ohne Erklärung der Gesamtsituation u. das unmittelbar vor der HV in London
soll.Warum oder wer könnte ein Interesse haben diesen Kursrutsch gewollt inszeniert zu haben??? Schaun wir mal!!!

[o_mar]

http://static.matchnet.com/pdf/mn/Q2_2002_english.pdf

[susi]

Das hatte ich auch schon.
Aber in deutsch wäre mir lieber.

[uwebull]

Susi hab noch nichts deutsches gefunden.Wird noch dauern!

[MatchnetIR [IR/PR]]

Sehr geehrte Investoren,

Ich bin momentan dabei den HJ-Bericht ins Deutsche zu übersetzen und gehe davon aus, dass ich ihn bis Montagabend ins Board stellen kann.

MfG

Elmar Bob

[uwebull]

@MatchnetIR, eine Erklärung von Herr Bob zu den schlechten Zahlen wäre sinnvoller. Dass die Zahlen nachbörslich kommen war wohl von Herr Elmar Bob bewusst eine falsch Information und die ist wie sovieles andere auch erklärungsbedürftig!
Aber bei dem schlechten Stil den Matchnet hier dargelegt hat ist wohl nicht mit einer Erklärung von seiten Herr Bob zu rechnen!!!!!

[ipo.trader]

@ uwebull,

bitte, was ist an den Zahlen schlecht?
Die Frage ist ernst gemeint.

[srh]

über einen schlechten stil von herrn bob kann man bänder füllen!!! zudem herr bob (lt einer mail) schon seit letzter woche an der übersetzung arbeitet. ironisch meinte er, ob den aktionären ein teurer übersetzungsservice lieber wäre. ich sage: ja! bin noch nicht ausgestiegen, weil ich denke, dass noch etwas nachkommt. ob positiv oder negativ - da muss man sich überraschen lassen.

[RicheyJames]

@ipo.trader,

die Zahlen bewertet jeder anders. Ich bin jetzt über 5 Monate dabei gewesen, und ich hab sie mir weitaus besser vorgestellt.

Die Frage ist aber nicht, was erwartet wurde, sondern ob ich nach diesen Zahlen sozusagen als Anleger, der sich noch nie mit Matchnet beschäftigt hat, jetzt investieren würde. Und darauf lautet die Antwort ganz klar, Nein!

Die Umsätze und Gewinne sind rückläufig, das Vertrauen der Anleger ist zerstört, die Geselschaft macht keinen seriösen Eindruck mehr und es gibt immernoch zu viele Optimisten.

Du scheinst ja noch nicht so lange dabei zu sein. Vielleicht kannst du mir sagen, was an den Zahlen gut sein soll!


Richey

[ipo.trader]

@ RicheyJames,

Danke für die Antwort!

Was ich an den Zahlen gut finde?

Matchnet hat eine Marktkapitalisierung von ca. 21 Mio $ und legt ein positives Nettoergebnis von 930.000 $ vor.

Das ist doch Fakt! Oder?

Ich kenne kaum ein Unternehmen im Internetbereich mit einer besseren Rendite!

(Die negative Quartalsentwicklung würde ich nicht überbewerten, denn mit Rückgängen in den Sommermonaten müssen Internet-Unternehmen generell leben. Dafür ziehen die Umsätze in den Wintermonaten wieder klar an.)

[uwebull]

@an alle

nachfolgend einige Gedanken von mir, würde dazu gern mal eure Meinung wissen. Bitte achtet nicht genau auf die Zahlen sie sind nur ca. richtig.

Matchnet hatte nach dem ersten Quartal 2002 ca. 6,1 Mio. registrierte Mitglieder
bei einem Umsatz von ca. 4,8 Mio. Euro
dass sind ca. 114.000 zahlende Mitglieder
ca. Umsatz 14 Euro pro zahlendem Mitglied pro Monat

dass diese Zahlen etwa stimmen im Vergleich:

Udate hatte nach dem ersten Quartal 2002
ca. über 10 Mio. registrierte Mitglieder
bei einem Umsatz von ca. 9,4 Mio Euro
dass sind 225.000 zahlende Mitglieder lt.Quartalsbericht
ca. Umsatz 14 Euro pro zahlendem Mitglied


im Verhältniss regiestrierte Mitglieder zu zahlenden Mitglieder liegt dass so ca. zwischen 19-22 %

Matchnet hatte zum Jahresabschluss 2001 ca. 5,6 Millionen registrierte Mitglieder, 3 Monate später 6,1 Mio.

Ende Juni dürften folglich die regiestrierten Mitglieder so ca. 6,6 Millionen sein. Bei 500.000 mehr registrierten Mitglieder im 2. Quartal 2002 mit 20% neuen zahlenden Mitglieder hochzurechnen bedeutet 100.000 neue Mitglieder im 2. Quartal 2002. Unabhängig davon wieviele zahlende Mitglieder in den Monaten gekündigt haben bedeutet es pro Monat ca. 33.000 neue zahlende Mitglieder die zwischen 1 Monat und länger Mitgliedsbeitrag bezahlen.

Mal angenommen die 33.000 neue zahlende Mitglieder bezahlen im Schnitt 30 Dollar sind dass hochgerechnet 990.000 Dollar.

Und jetzt nochmal was die IR geschrieben hat:

1. Die sogenannte Downtime hat nichts mit der Funktionalität von AS per se zu tun sondern mit dem neuen Abrechnungsmodul. Dies bedeutete, dass bestehende Kunden problemlos die Website benutzen konnten, neue Kunden konnten allerdings nicht mit ihren Kreditkarten (hauptsächlich VISA) bezahlen und dies konnte im Vorfeld leider auch nicht richtig getestet werden.

Ist es möglich dass der Umsatz nur ins nächste Quartal verschoben wurde??????

Möchte hier mit Sicherheit Matchnet nicht verteidigen, bin auch tief enttäuscht, nur suche ich eine Erklärung, also hackt nicht gleich auf dem geschriebenen rum sondern wenn ihr eine Meinung dazu habt meldet euch!

schönes WE

[ipo.trader]

@ uwebull,

ist nicht bös` gemeint, aber erst stellt du in den Raum, die vorgelegten Zahlen seien schlecht und kurze Zeit später relativierst du deine Aussage.

Was mich an der hier geführten Diskussion im allgemeinen wundert:

Matchnet hat unter dem Strich in einer desaströsen Wirtschaftsphase schwarze Zahlen geschrieben und hier wird gerade so getan als ob der Konkurs kaum mehr abzuwenden sei.

Ich würde mir etwas mehr Differenzierung bei der Beurteilung des Ergebnisses wünschen. Zumal keiner von uns mit Bestimmtheit sagen kann, wie und zu welchem Zeitpunkt Umsätze effektiv verbucht werden.
Ich halte die alleinige Quartalsbetrachtung ohnehin für wenig sinnvoll, wesentlich aussagekräftiger ist der Vergleich des Gesamtjahres und hier vorallem der Blick auf das Netto-Ergebnis.
Und dieses von Matchnet vorgelegte Netto-Ergebnis belegt die Profitabilität und macht das Unternehmen zu einem renditestarken Investment im Internetbereich.


Viele Grüße,

ipo.trader

[uwebull]

@ipotrader, ich relativiere da meine Aussage nicht und bleibe dabei dass die Zahlen schlecht sind und die Begründung scheint ja die Aussage zu sein dass von den neuen Mitglieder keine Beiträge eingezogen werden konnten weil dass Abrechnungssystem (Visa) nicht funktionierte.
Nur wenn dies nicht funktionierte bleibt die Forderung von Matchnet an die Mitglieder bestehen und ist nicht verloren.
Wie in meiner Annahme aufgeführt hat Matchnet seine Zahl der registrierten Mitglieder weiter erhöht (sind wahrscheinlich auch grösser als die von mir angenommen6,6 Mio.hab da irgendwas von 8 Mio. gelesen)und dann ist der dargestellte Umsatz im 2.Quartal zwar faktisch richtig aber dann stecken doch die ausgefallenen Beiträge vom 2. Quartal bereits im 3. Quartal.
Oder vergesse ich da was und bin blauäuig (bitte auch meine Annahme von gestern nacht lesen)??????????????????

[Dr. Motte, Berlin]

wie kann man überprüfen, ob es sich bei den registrierten mitgliedern um tatsächlich zahlungswillige und "echte" mitglieder handelt? gleichzeitig sollte man sich mal die statistiken über amerikaner mit (noch) eigener kreditkarte ansehen. nachdem sich diese in den boomjahren üblicherweise von monat zu monat übernommen haben und nahezu ausnahmslos auf "pump" gelebt haben, stellt sich die frage, wer nach den zahlreichen privaten konkursen überhaupt noch im besitz einer kreditkarte ist? weshalb sollte man sich ausgerechnet an eine nicht gerade beeindruckende partnermaschinerie binden lassen?

stellt sich doch weiter die frage: würde man eine angebliche perle überhaupt verkaufen oder übernehmen lassen? gibt es am nm eine einzige company, welche nicht im eigeninteresse handeln würde?

wie kann man eine company auf "attraktiv" pushen? mit steigenden mitgliederzahlen? ... nachtigall ich hör...

aber offensichtlich deklariert die angebliche "downtime" den widerspruch!