Disciplineandpublish.com reported its first quarterly earnings today, disappointing investors who expected more from an Internet venture.
"Disciplineandpublish.com executed well on its core fundamentals," said Paul Festa, chief executive officer and director of content. "The goal here was to write every day. We never said we were going to make any money."
Still, Wall Street pummelled the firm (Nasdaq: DSCP) so severely that the SEC suspended trading on the issue.
The creative writing Web site had a net loss of $29.85 on revenues of $0 for its first fiscal quarter, not counting a one-time charge of $70 for domain name registration. Amortized over eight quarters, the registration fee boosts the site's loss to $38.60 for the present quarter.
Analysts said they were not surprised by the results.
"Here's a site with no business plan, no revenues, no marketing, no hope," said one equity analyst who asked not to be named lest people associate him with the stock. "I realize these days revenue is supposed to be a distraction. But this is ridiculous."
Disciplineandpublish.com enjoyed one of the most obscure IPOs of any "dot com" venture, raising barely enough capital to fund its cut-rate hosting fees and domain name registration.
"You can't give these shares away," said the analyst. "I guess you could line a bird cage with them or something."
Festa said the site's board of directors would meet to discuss the company's dire financials, but did not predict a turnaround anytime soon.
"For the time being it's all we can do to get the site updated on a daily basis," Festa said.