Common use of Current Financial Statements and Projections Clause in Contracts

Current Financial Statements and Projections. The Stockholder shall have provided, or caused the Company to have provided to Purchaser the financial statements of the Company for calendar year 1998 showing a recurring EBIT of at least $110,000 for such year, the financial statements of the Company for the two (2) month period ended February 28, 1999, and a projection of revenues and expenses for calendar year 1999, which projection reflects a recurring EBIT of at least $110,000 for such year. Such financial statements shall be prepared on an accrual basis, in accordance with GAAP. "EBIT" means the Company's net recurring revenues minus all of its recurring expense items (excluding any extraordinary and non-recurring items) and depreciation and amortization, but excluding interest and taxes.

Current Financial Statements and Projections. The Stockholder shall have provided, or caused the Company to have provided to Purchaser the financial statements of the Company for calendar the fiscal year ended June 30, 1998 showing a recurring EBIT of at least $110,000 for such year, the financial statements of the Company for the two (2) month period ended February 28, 1999, and a projection of revenues and expenses for calendar year 1999, which projection reflects a recurring EBIT of at least $110,000 40,000.00 for such year. Such financial statements shall be prepared on an accrual basis, in accordance with GAAP. "EBIT" means the Company's net recurring revenues minus all of its recurring expense items (excluding any extraordinary and non-recurring items) and depreciation and amortization, but excluding interest and taxes.

Current Financial Statements and Projections. The Stockholder shall have provided, or caused the Company to have provided to Purchaser the financial statements of the Company for calendar year 1998 showing a recurring EBIT of at least $110,000 200,000.00 for such year, and the financial statements of the Company for the two four (24) month period ended February 28April 30, 1999, and a projection of revenues and expenses for calendar year 1999, which projection reflects 1999 showing a recurring EBIT of at least $110,000 66,000 for such yearperiod. Such financial statements shall be prepared on an accrual basis, in accordance with GAAP. "EBIT" means the Company's net recurring revenues minus all of its recurring expense items (excluding any extraordinary and non-recurring items) and depreciation and amortization, but excluding interest and taxes.

Current Financial Statements and Projections. The Stockholder shall have provided, or caused the Company to have provided to Purchaser the financial statements of the Company for calendar year 1998 showing a recurring EBIT of at least $110,000 50,000 for such year, the financial statements of the Company for the two (2) month period ended February 28, 1999, and a projection of revenues and expenses for calendar year 1999, which projection reflects a recurring EBIT of at least $110,000 50,000 for such year. Such financial statements shall be prepared on an accrual basis, in accordance with GAAP. "EBIT" means the Company's net recurring revenues minus all of its recurring expense items (excluding any extraordinary and non-recurring items) and depreciation and amortization, but excluding interest and taxes.