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iMALL Posts $3.6 Million Loss

Santa Monica, CA-based e-commerce company iMALL Inc. reported a loss from continuing operations for the period ending March 31 of $3.68 million, or $0.28 per share, compared to a loss from continuing operations of $1.24 million, or $0.22 per share in the same quarter last year.

Revenues from continuing operations for quarter were $778,700, up from $222,200 for the same period in 1998.

The company also reported income during the quarter from discontinued operations of $78,900, or $0.01 per share, compared to income of $25,600, or $0.00 per share, from discontinued operations for the same quarter last year.

The net loss for the quarter was $3,608,100, or $0.27 per share, on 13,902,672 weighted average shares outstanding, compared to a net loss of $1,219,000, or $0.22 per share, on 7,652,494 weighted average shares outstanding for the comparable quarter last year.

"These results are consistent with external expectations and our internal plans," said Richard Rosenblatt, iMALL's chairman and chief executive officer. "As we stated on our year-end conference call, our objective for the first half of the year was to position iMALL for solid growth and long-term success by focusing on the completion of our next generation of technology and forming strategic partnerships. . .We believe that we made excellent progress toward that goal so far this year."

IMALL Inc. is a provider of integrated e-commerce solutions that include a proprietary payment gateway. To help increase businesses online sales, iMALL's shopping portals and shopper services are integrated into its e-commerce solutions. iMALL's e-commerce solution, MerchantStuff.com, created jointly with First Data Merchant Services is located at www.merchantstuff.com. iMALL's shopping portals are located at www.stuff.com and http://www.imall.com.