Common use of Report and Financial Statements Clause in Contracts

Report and Financial Statements. 4.6.1. The Company has delivered to the Investor its audited balance sheet as of December 31, 2005 and the audited statements of operations, stockholders equity and cash flows for the years ended December 31, 2005 and 2004, and the unaudited balance sheet as of June 30, 2006 and unaudited statements of operations and cash flows for the six months ended June 30, 2006 and 2005 and stockholders’ equity for the six months ended June 30, 2006, in each case including notes to the financial statements (collectively, the “Financial Statements”). Each of the balance sheets contained in such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company, as of its date, and each of the statements of operations, stockholders’ equity and cash flows in such Financial Statements (including any related notes and schedules thereto) fairly presents, the results of operations, changes in stockholders’ equity and changes in cash flows, as the case may be, of the Company, for the periods to which they relate, in each case in accordance with GAAP, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. The books and records of the Company have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements and reflect only actual transactions. Pxxxx X. Xxxxxx Co. CPA’s, who audited the 2005 audited financial statements, is independent within the meaning of the regulations of the SEC.

Report and Financial Statements. 4.6.1. The Company has delivered to the Investor its Investors the audited balance sheet of Freundlich as of December 31, 2005 and the audited statements of operations, stockholders equity and cash flows for the years ended December 31, 2005 and 2004, and the unaudited balance sheet as of June 30March 31, 2006 and unaudited statements of operations and cash flows for the six three months ended June 30March 31, 2006 and 2005 and stockholders’ equity for the six three months ended June 30March 31, 2006, in each case cash including notes to the financial statements (collectively, the “Financial Statements”). Each of the balance sheets contained in such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the CompanyFreundlich, as of its date, and each of the statements of operations, stockholders’ equity and cash flows in such Financial Statements (including any related notes and schedules thereto) fairly presents, the results of operations, changes in stockholders’ equity and changes in cash flows, as the case may be, of the CompanyFreundlich, for the periods to which they relate, in each case in accordance with GAAP, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. The books and records of the Company Freundlich have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements and reflect only actual transactions. Pxxxx X. Xxxxxx Co. Xxxxxxxx and Company, CPA’s, PC, who audited the 2005 audited financial statements, is independent within the meaning of the regulations of the SEC.. SECURITIES PURCHASE AGREEMENT

Report and Financial Statements. 4.6.1. The Company has delivered to the Investor its audited balance sheet as of December 31, 2005 and the audited statements of operations, stockholders equity and cash flows for the years ended December 31, 2005 and 2004, and the unaudited balance sheet as of June 30, 2006 and unaudited statements of operations and cash flows for the six months ended June 30, 2006 and 2005 and stockholders’ equity for the six months ended June 30, 2006, in each case including notes to the financial statements (collectively, the “Financial Statements”). Each of the balance sheets contained in such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the Company, as of its date, and each of the statements of operations, stockholders’ equity and cash flows in such Financial Statements (including any related notes and schedules thereto) fairly presents, the results of operations, changes in stockholders’ equity and changes in cash flows, as the case may be, of the Company, for the periods to which they relate, in each case in accordance with GAAP, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. The books and records of the Company have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements and reflect only actual transactions. Pxxxx X. Xxxxxx Co. CPA’sWhitley Penn LLP, who audited the 2005 audited financial statements, is independent within the meaning of the regulations of the SEC.

Report and Financial Statements. 4.6.1. The Company has delivered to the Investor its Investors the audited balance sheet of Sinogas as of December 31, 2005 and the audited statements of operations, stockholders equity and cash flows for the years ended December 31, 2005 and 2004, and the unaudited balance sheet as of June 30March 31, 2006 and unaudited statements of operations and cash flows for the six three months ended June 30March 31, 2006 and 2005 and stockholders’ ' equity for the six three months ended June 30March 31, 2006, in each case cash including notes to the financial statements (collectively, the “"Financial Statements”"). Each of the balance sheets contained in such Financial Statements (including the related notes and schedules thereto) fairly presented the financial position of the CompanySinogas, as of its date, and each of the statements of operations, stockholders’ ' equity and cash flows in such Financial Statements (including any related notes and schedules thereto) fairly presents, the results of operations, changes in stockholders’ ' equity and changes in cash flows, as the case may be, of the CompanySinogas, for the periods to which they relate, in each case in accordance with GAAP, except in each case as may be noted therein, subject to normal year-end audit adjustments in the case of unaudited statements. The books and records of the Company have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements and reflect only actual transactions. Pxxxx X. Xxxxxx Co. CPA’sSchwartz Levitsky Feldman LLP, who audited the 2005 audited financial statementsfinanciax xxxxxxexxx, is independent xx ixxxxxxxent within the meaning of the regulations of the SEC.