clickNsettle.com Reports Third Quarter and Nine Month Results; Net Loss per Share of $0.03 for the Third Quarter of Fiscal 2004 versus Net Loss per Share of $0.03 a Year Ago GREAT NECK, N.Y., May 14 /PRNewswire-FirstCall/ -- clickNsettle.com, Inc. (BULLETIN BOARD: CLIK) , a global provider of innovative dispute resolution solutions, today announced its revenues and results for the third fiscal quarter and nine months ended March 31, 2004. Revenues for the third quarter of fiscal 2004 decreased to $809,868 from $858,934 for the third quarter of fiscal 2003. Net loss was ($212,102) for the third quarter of fiscal year 2004 versus ($213,025) for the prior year quarterly period. Net loss per share was ($0.03) for both quarterly periods. Revenues for the first nine months of fiscal 2004 decreased to $2,724,722 from $2,814,132 for the first nine months of fiscal 2003. The results for the first nine months of last year included non-recurring revenue of approximately $50,800. Net loss was ($562,458) for the first nine months of fiscal year 2004 versus ($536,729) for the prior year comparable period. Net loss per share was ($0.07) for the first nine months of fiscal year 2004 versus ($0.06) for the same period in the prior year. About clickNsettle.com Headquartered in Great Neck, New York, clickNsettle.com, Inc. provides innovative and highly effective dispute resolution services and solutions to entities that seek alternatives to the traditional and often time-consuming and expensive legal process. clickNsettle.com, the parent company of National Arbitration and Mediation (NAM), offers a comprehensive selection of some of the finest lawyers globally, with more than 1,700 top-tier former judges and attorneys worldwide. Additionally, the company has a number of inventions designed to enhance transparency and ensure the integrity of ADR (alternative dispute resolution) initiatives. Although the dispute resolution industry is still relatively young, clickNsettle.com has been recognized nationally as a leader in the field and the NAM brand name is well established within the legal and business communities. The statements contained in the release contain forward-looking statements relating to such matters as anticipated financial performance, business prospects, and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expenditures expressed in the Company's forward- looking statements. These factors include changes in the insurance and legal industries; the Company's inability to retain current or new hearing officers; changes in the public court system; and the degree and timing of the market's acceptance of its arbitration and mediation programs and electronic oversight applications. clickNsettle.com, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three months ended Nine months ended March 31, March 31, 2004 2003 2004 2003 Net revenues $809,868 $858,934 $2,724,722 $2,814,132 Operating costs and expenses Cost of services 179,311 194,869 623,594 653,398 Sales and marketing expenses 323,253 254,547 971,916 842,077 General and administrative expenses 511,570 626,889 1,745,749 1,866,694 1,014,134 1,076,305 3,341,259 3,362,169 Loss from operations (204,266) (217,371) (616,537) (548,037) Other (expenses) income Investment (loss) income (8,423) 579 52,056 4,058 Other income 587 3,767 2,023 7,250 (7,836) 4,346 54,079 11,308 Loss before income taxes (212,102) (213,025) (562,458) (536,729) Income taxes - - - - NET LOSS $(212,102) $(213,025) $(562,458) $(536,729) Net loss per common share - basic and diluted $(0.03) $(0.03) $(0.07) $(0.06) Weighted-average shares outstanding - basic and diluted 8,449,056 8,449,056 8,449,056 8,449,056 DATASOURCE: clickNsettle.com, Inc. CONTACT: Pat Giuliani-Rheaume of clickNsettle.com, Inc., +1-516-829-4343 Web site: http://www.clicknsettle.com/

Copyright