no capital raising here ....., page-4

looksmart loss LookSmart's GAAP results of operations for the first quarter ending March 31, 2006 will include the impact of expensing stock options resulting from the adoption of Statement of Financial Accounting Standards No. 123(R) as required in the first quarter of 2006. The Company is not presently in a position to quantify the impact of the adoption, which is expected to result in a significant increase in GAAP net loss on its statement of operations and net loss per share.

Exactly as i said and reported.

which is expected to result in a SIGNIFICANT increase in GAAP net loss on its statement of operations and net loss per share.