1998 Financial Statements

Statement of Stockholders’ Equity

Years Ended December 31, 1998, 1997, 1996	Common Stock Stock  Amount		Additional Paid-in Capital	Accumu- lated Deficit	Treasury Stock	Total
(in thousands) Balance at December 31, 1995	19,674	$ 2	$60,092	$(22,063)	$  —	$38,031
Issuance of shares of   stock pursuant to stock option   plan, net	157	—	30	—	—	30
Net loss	—	—	—	(1,984)	—	(1,984)
Balance at December 31, 1996	19,831	2	60,122	(24,047)	—	36,077
Issuance of shares of stock   pursuant to stock option plan,   net	141	—	4	—	—	4
Issuance of shares of stock   pursuant to license agreement	3	—	20	—	—	20
Issuance of shares of stock   pursuant to partial exercise of   warrants	500	—	4,000	—	—	4,000
Purchase of shares of treasury   stock, at cost	—	—	—	—	(663)	(663)
Net loss	—	—	—	(9,557)	—	(9,557)
Balance at December 31, 1997	20,475	2	64,146	(33,604)	(663)	29,881
Issuance of shares of stock   pursuant to stock option plan,   net	41	—	23	—	—	23
Issuance of shares of stock   pursuant to partial exercise of   warrants	966	—	2,500	—	—	2,500
Net loss	—	—	—	(4,079)	—	(4,079)
Balance at December 31, 1998	21,482	$ 2	$66,669	$(37,683)	$(663)	$28,325

See accompanying notes to financial statements.

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