Oasys Mobile has released its third quarter earnings result. It’s not great news… “Total revenue for the third quarter of 2006 totaled approximately $2.12 million, as compared to total revenue of approximately $2.06 million for the third quarter of 2005…Total revenue for the nine months ended September 30, 2006 totaled approximately $6.04 million compared to $5.84 million for the same period in 2005.” The revenue is up 17% over the Q2 2006 figures. At the bottom line “Net loss from operations for the third quarter of 2006 was approximately $3.91 million compared to a net loss from operations of approximately $1.04 million for the same period in 2005. For the nine-month period ended September 30, 2006, net loss from operations was approximately $7.78 million compared to approximately $2.58 million for the same period in 2005.” At the end of September it had $4.8 million in cash and accounts receivable, which means that if it keeps losing money at the same rate it has just over another quarter left. There is one promising aspect, in that Oasys ditched the Sports Illustrated license when it became too onerous…if the revenue from that license is removed from the 2005 figures Oasys saw a growth of 29% in revenue, both for the quarter and for the first 9 months. The net losses also involved one-time charges relating to employee stock options and severance charges for the departing CEO. However, these don’t account for the huge increase, and if the extra investment in product development and marketing doesn’t pay off its going to need to look for more cash to keep going. I can’t help but be reminded of Dijji.