| EBITDA
does not represent funds available for management's discretionary use
and is not intended to represent cash flow from operations. EBITDA should
not be construed as a substitute for operating income or as a better measure
of liquidity than cash flow from operating activities, which are determined
in accordance with generally accepted accounting principles ("GAAP").
EBITDA excludes components that are significant in understanding and assessing
the Company's results of operations and cash flows. In addition, EBITDA
is not a term defined by GAAP and as a result our measure of EBITDA might
not be comparable to similarly titled measures used by other companies.
However,
the Company believes that EBITDA is relevant and useful information,
which is often reported and widely used by analysts, investors and other
interested parties in the Company's industry. Accordingly, the Company
is disclosing this information to permit a more comprehensive analysis
of our operating performance, as an additional measure of performance
and liquidity and to provide additional information with respect to
the Company's ability to meet future debt service, capital expenditure
and working capital requirements. See the unaudited financial statements
and notes thereto contained in the Company's report on Form 10-QSB for
the quarter ended June 30, 2002 for more information. |
Raining
Data and Subsidiaries Consolidated Statements of Operation
Raining Data and Subsidiaries Consolidated Balance
Sheets
Raining Data and Subsidiaries Consolidated Cash
Flows