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Looksmart's Q-1 2013 Financial Results

....."We have begun the process of bringing ownership thinking to our employees" is such a refreshing message that Looksmart's newest CEO Michael Onghai has passed on to shareholders.

Michael has just delivered the Co's First Quarter 2013 Financial Results, yesterday.

In a quickly changing world many may feel that too many young people are being told what to think rather than being told, "how" to think.

[Looksmart's] "Ownership thinking"....There's no doubt, that...

Education is the answer...not 'the stick' .. Education and NOT of the indoctrination kind, that will see future people becoming slaves under the control of, corporate ("board-room") idealism. No more, no less.

This can only (ultimately) result in NO more "free" thinking. People have a need to learn how to control their minds ....and for them to not have their minds take control over them or, have them controlled, by others.

In my (1st April, 2013) instapost Looksmart CEO Michael Onghai's Initial Report I'd opined the following:

........With operating expenses now down to about $2 million per quarter post 2012 (this estimate does include all cost related to the operating of the Company's data center) and a TAC going forward (my estimate only, of course) of just 20% of all post 2012 comprehensive revenue or, income, there's a distinct possibility now that Looksmart CEO Michael Onghai's 'intention of seeing profitable revenue growth in the future', may well come sooner than many could ever imagine.

It's pleasing to read (from the Q1 Report) that Looksmart's ... "Total operating expenses in the first quarter of 2013 were $2.1 million and included $0.02 million of non-cash, share-based compensation."

And for the Q2 Period we are currently in?

I see PROFITABILTY being announced for THIS period. [Note ps;]

Well played, Michael Onghai and Team Looksmart.

LOOK: $0.74 Up 0.03 (+4.18%) May 15

Always, only an opinion.

LC

ps; Not so soon though. (As I had though may happen.)

From the 10-Q ... HTML

In a mention of the Co's Advertiser Networks Revenue for Q1 (1.74M) and looking ahead, the Co advises that ..."We expect that in the near future advertiser network revenue will generally remain at levels realized in the first quarter."

With Publisher Solutions ($0.26M) possibly, likewise:

...."We expect that in the near future publisher solutions revenue will generally remain at levels realized in the first quarter."

"Operating expense for the three months ended March 31, 2013 ($2.09M) included $0.5 million related to the tender offer by PEEK. Excluding the effect of this charge, operating expenses decreased by $2.4 million in the three months ended March 31, 2013, compared to the three months ended March 31, 2012."

"We do not expect substantial future increases in general and administrative expense."

It can't get any worse that this quarter, surely?

"As of March 31, 2013, we had 17 employees."

(Trade accounts receivable, net $1.44M)
( Deferred revenue and customer deposits $1.10M)

Q2? Break-even, at best.

Disclosure: Long LOOK