OTC Bulletin Board

S & P Company Insight for LEFT BEHIND GAMES
 
 Profile

 
Business Summary: Left Behind Games, Inc. engages in the development, publishing, and distribution of video games and related products in the United States. The company develops its video game products based on the Left Behind series of novels and products.
 
Address
  25060 Hancock Ave Ste 103
  Murrieta , CA 92562-5959
  Phone: 951-894-6597
  Website: http://www.leftbehindgames.com
Auditor
  KMJ Corbin and Company
Transfer Agent
  Columbia Stock Transfer Co.
Employees:  16
ShareHolders:  1330
Founded:  1961
Domicile:  Washington
 
  
 
 Background

 
Left Behind Games, Inc. engages in the development, publishing, and distribution of video games and related products in the United States. The company develops its video game products based on the Left Behind series of novels and products. Its primary product includes LEFT BEHIND: Eternal Forces, a real time strategy game played by one person or online by up to eight players on personal computers. The company sells its products through a direct-to-store distribution channel or through distributors to Christian booksellers association and inspirational marketplaces. It markets its products in North America, Australia, Canada, Singapore, and South Africa. Left Behind Games, Inc. was founded in 2002 and is based in Murrieta, California.
History:  INCORPORATED in Washington Apr. 3, 1961, as Vermilion Gold, Inc.; name changed to Bonanza Gold, Inc. Aug. 22, 1962, and to Left Behind Games Inc. Apr. 25, 2006. On Feb. 7, 2006, the company acquired Left Behind Games Inc., a Delaware corporation organized on Aug. 27, 2002, for 12,456,538 Common shares and 3,586,246 Preferred shares.
 
Subsidiaries:
Left Behind Games Inc. (Delaware)
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  414
  2006  37
  2005  14
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  1,209
  2006  568
  2005  63
 
  
 
 Management

 

Management
OfficersPosition
 Troy A. LyndonChairman & Chief Executive Officer
 James B. FrakesChief Financial Officer & Investor Relations Contact

Directors
 Troy A. Lyndon
 Michael  Knox
 Leslie  Bocskor
 Thomas  Axelson
 Ray  Dixon
 Jeffrey  Frichner
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
(Restated)
* (SeeNote2)
Net revenues$251,405$292,190
Costs and
expenses:
Cost of sales
- product
costs446,704303,936
Cost of sales
- intellectual
property
licenses7,775552,326
Selling, g
eneral and
administrative5,040,21824,416,356
Product
development309,9141,209,154
Total costs
and expenses5,804,61126,481,772
Operating loss(5,553,206)(26,189,582)
Other income
(expense):
Interest
expense (637,566)(77,526)
Other income
(expense) (32,524)2,348
Total other
expense, net (670,090)(75,178)
Loss before
provision for
income taxes (6,223,296)(26,264,760)
Provision for
income taxes4,000800
Net loss $(6,227,296)$(26,265,560)
Net loss
available to
common
stockholders
per common
share:
Basic and
diluted $(0.08)$(1.25)
Weighted
average common
shares
outstanding:
Basic and
diluted76,681,51721,069,797
See reports of independent registered public accounting firms and
accompanying notes to consolidated financial statements
Operating Income As Calculated
Depr. and Amort.
Fixed Charges Coverage:
Available for Fixed Charges
Gross Fixed Charges
Fixed Charges Times Earnings
Fixed Charges Coverages and Preferred Dividends Times Earnings
Capital Expenditures
Research & Development Expenditures
 
Balance Sheet
  20082007
ASSETS (Restated)
* (SeeNote2)
CURRENT ASSETS:
Cash$2,695$14,965
Accounts receivable, net of allowances of $63,292 and $68,825
as of March 31, 2008 and 2007, respectively830,374862,621
Inventories, net of reserves of $306,060 and $25,834
as of March 31, 2008 and 2007, respectively69,199394,605
Debt issuance costs14,872359,133
Prepaid royalties17,225--
Other prepaid expenses and current assets75,57638,846
Total current assets1,009,9411,670,170
Property and equipment, net216,872368,313
Intangible assets, net18,37543,441
Other assets52,37252,373
*$1,297,560$2,134,297
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable and accrued expenses$2,608,438$2,039,672
Royalty payable250,000250,000
Advances from related parties56,02373,000
Notes payable, net604,240395,056
Deferred income - product sales480,090555,845
Deferred revenue100,323100,323
Total current liabilities4,099,1143,413,896
Convertible zero coupon notes, net of discount of $210,422
at March 31, 20088,641--
Deferred rent1,4275,257
Total liabilities4,109,1823,419,153
Commitments and contingencies
Stockholders' equity (deficit):
Series A preferred stock, $0.001 par value; 10,000,000 shares authorized; 3,586,245
shares issued and outstanding; liquidation preference of $188,500 as of
March 31, 2008 and 2007, respectively3,5863,586
Common stock, $0.001 par value; 200,000,000 shares authorized; 138,433,090 and 35,904,898 shares
issued and outstanding as of March 31, 2008 and 2007138,37435,842
Shareholder notes receivable (70,000)--
Additional paid-in-capital39,156,42734,488,429
Accumulated deficit(42,040,009)(35,812,713)
Total stockholders' equity (deficit) (2,811,622)(1,284,856)
*$1,297,560$2,134,297
See reports of independent registered public accounting firms and
accompanying notes to consolidated financial statements
Net Working Capital
Equity per Share
Depr. and Amort. Reserve
Preferred Shares Issued
Common Shares Issued
Treasury Shares - Preferred
Treasury Shares - Common
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1110,000
  2008   230,000
  2008   330,000
  2008   480,000
  2008   Full Year 250,000
  2007   Full Year 770,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2007   1(1,320,000)
  2007   2(1,400,000)
  2007   3(1,130,000)
  2007   4(2,380,000)
  2007   Full Year (26,080,000)
  2006   Full Year (8,609,000)
  2005   Full Year (490,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.03)
  2008   2(.02)
  2008   3(.01)
  2008   4(.02)
  2008   Full Year (.08)
  2007   Full Year (1.24)
  2006   Full Year (.85)
 
  
 
 Stock Data

 
 
Capitalization as of 12/31/2007:
 
 Authorized SharesOutstanding Shares
Common $0.001 par200,000,00093,338,293
Preferred $0.001 par10,000,0003,586,245so2
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  07/12/2007, 1330.
PRINCIPAL STOCKHOLDERS: July 12, 2007, Jeffrey S. Frichner owned or controlled 8.5% of the Common and Troy A. Lyndon 7.9%.
 
Transfer Agent:  Columbia Stock Transfer Co.   Coeur d'Alene , ID
 
OTC Bulletin Board( Primary): LFBG
 
ExchangeYearHighLow
OTC Bulletin Board20072.45000.0200
OTC Bulletin Board20063.10002.8200
OTC Bulletin Board20050.36000.1200
OTC Bulletin Board20040.15000.1000
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-4, Feb. 7, 2006.
 
 
  so2Consists of Series A Preferred. Liquidation preference, $188,500. Series A is convertible into Common on a one-for-one basis.