Common use of Report and Financial Statements Clause in Contracts

Report and Financial Statements. The Company’s Annual Report on Form 10-KSB, filed on July 26, 2004 with the SEC contains the audited financial statements of the Company as of December 31, 2003 and the Company has previously provided to the Investor the audited financial statements of CSI as of December 31, 2003 and for the six months ended June 30, 2004 and the unaudited financial statements of CSI for the eleven month period ending November 30, 2004 (collectively, the “Financial Statements”). Each of the balance sheets contained in or incorporated by reference into any such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company or CSI, as the case may be, as of its date, and each of the statements of income and changes in stockholders’ equity and cash flows or equivalent statements in such Financial Statements (including any related notes and schedules thereto) fairly presents, changes in stockholders’ equity and changes in cash flows, as the case may be, of the Company or CSI, as applicable, for the periods to which they relate, in each case in accordance with United States generally accepted accounting principles (“U.S. GAAP”) consistently applied during the periods involved, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. Except as noted therein, the books and records of the Company have been, and are being, maintained in all material respects in accordance with U.S. GAAP without variances and any other applicable legal and accounting requirements and reflect only actual transactions.

Report and Financial Statements. The Company’s Annual Report on Form 10-KSB, filed on July 26, 2004 with the SEC contains Schedule 4.6 sets forth the audited financial balance sheet of Ranor as of March 31, 2005 and the audited statements of operations, stockholders equity and cash flows for the Company years ended March 31, 2005 and 2004, and the unaudited balance sheet as of December 31September 30, 2003 2005 and the Company has previously provided to the Investor the audited financial unaudited statements of CSI as of December 31, 2003 operations and cash flows for the six months ended June September 30, 2005 and 2004 and stockholders' equity for the unaudited six months ended September 30, 2005, in each cash including notes to the financial statements of CSI for the eleven month period ending November 30, 2004 (collectively, the “"Financial Statements”"). Each of the balance sheets contained in or incorporated by reference into any such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company or CSI, as the case may beRanor, as of its date, and each of the statements of income and changes in operations, stockholders’ ' equity and cash flows or equivalent statements in such Financial Statements (including any related notes and schedules thereto) fairly presents, changes in stockholders’ ' equity and changes in cash flows, as the case may be, of the Company or CSI, as applicableRanor, for the periods to which they relate, in each case in accordance with United States generally accepted accounting principles (“"U.S. GAAP”") consistently applied during the periods involved, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. Except as noted therein, the The books and records of the Company have been, and are being, maintained in all material respects in accordance with U.S. GAAP without variances and any other applicable legal and accounting requirements and reflect only actual transactionstransaction.

Report and Financial Statements. The Company’s ICEWEB, INC.'s Annual Report on Form 10-KSBK, filed on July 26January 14th, 2004 2005, with the SEC contains the audited financial statements of the Company as of December 31for fiscal year 2004. In addition the company has provided the first quarter report on Form 10-QSB, 2003 and filed on February 17th, 2005 with the Company SEC which has previously been reviewed by the companies auditors. Collectively, the company has provided "FINANCIAL STATEMENTS" to the Investor investor which accurately represent the audited financial statements condition of CSI as of the company through December 3131st, 2003 and for the six months ended June 30, 2004 and the unaudited financial statements of CSI for the eleven month period ending November 30, 2004 (collectively, the “Financial Statements”)2004. Each of the balance sheets contained in or incorporated by reference into any such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company or CSI, as the case may beCompany, as of its date, and each of the statements of income and changes in stockholders’ ' equity and cash flows or equivalent statements in such Financial Statements (including any related notes and schedules thereto) fairly presents, changes in stockholders’ ' equity and changes in cash flows, as the case may be, of the Company or CSI, as applicableCompany, for the periods to which they relate, in each case in accordance with United States generally accepted accounting principles (“"U.S. GAAP”") consistently applied during the periods involved, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. Except as noted therein, the The books and records of the Company ICEWEB, INC. have been, and are being, maintained in all material respects in accordance with U.S. GAAP without variances and any other applicable legal and accounting requirements and reflect only actual transactionstransaction.

Report and Financial Statements. The Company’s Annual Report on Form 10-KSB, filed on July 26, 2004 with the SEC contains Schedule 4.6 sets forth the audited financial statements balance sheet of the Company CNS as of December 31, 2003 2004 and the Company has previously provided to the Investor the audited financial statements of CSI as of operations, stockholders equity and cash flows for the years ended December 31, 2003 2004 and for the six months ended June 302003, 2004 and the unaudited balance sheet as of September 30, 2005 and unaudited statements of operations and cash flows for the nine months ended September 30, 2005 and 2004 and stockholders’ equity for the nine months ended September 30, 2005, in each cash including notes to the financial statements of CSI for the eleven month period ending November 30, 2004 (collectively, the “Financial Statements”). Each of the balance sheets contained in or incorporated by reference into any such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company or CSI, as the case may beCNS, as of its date, and each of the statements of income and changes in operations, stockholders’ equity and cash flows or equivalent statements in such Financial Statements (including any related notes and schedules thereto) fairly presents, changes in stockholders’ equity and changes in cash flows, as the case may be, of the Company or CSI, as applicableCNS, for the periods to which they relate, in each case in accordance with United States generally accepted accounting principles (“U.S. GAAP”) consistently applied during the periods involved, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. Except as noted therein, the The books and records of the Company have been, and are being, maintained in all material respects in accordance with U.S. GAAP without variances and any other applicable legal and accounting requirements and reflect only actual transactionstransaction.