SELECTED FINANCIAL INFORMATION. Set forth below is a summary of selected financial information for the Fund for the fiscal years ended March 31, 2005 and March 31, 2006. The information below has been excerpted from the Fund's audited financial statements contained in its Annual Report to Shareholders for the fiscal year ended March 31, 2005 and for the fiscal year ended March 31, 2006. The Annual Reports have previously been provided to Shareholders of the Fund, and can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxx). The summary of selected financial information set forth below is qualified in its entirety by reference to reports and the financial information, the notes thereto and related matter contained therein. -------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- March 31, 2005 March 31, 2006 ----------------------------------------------------------------------- ------------------ ------------------ ASSETS Investments at fair value (cost $23,924,469) $ 25,298,250 Advance for investment in Portfolio Funds 1,000,000 Cash $ 103,514 286,310 Due from Adviser 219,986 22,657 Prepaid expenses and other assets 25,900 16,893 ------------------ ------------------ ------------------ ------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ LIABILITIES Capital contribution received in advance 200,000 Due to Adviser 249,400 131,539 Accrued Trustees' fees and expenses 12,683 Accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== NET ASSET VALUE, Offering and Redemption Price Per Share: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 and 250,576 shares outstanding as of March 31, 2006 $ 100.00 $ 104.52 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ For the Period from October 8, 2004 (Date of For the year Formation) to ended March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ EXPENSES Investment advisory fees 383,675 Accounting fees 80,208 Transfer agent and escrow fees 30,160 Professional fees 132,916 Trustees' fees 48,850 Organizational costs 220,000 13,272 Amortization of deferred offering costs 120,577 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ Total Expenses 220,000 854,912 Less: fees waived and expenses reimbursed (219,986) (375,325) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ OPERATIONS Net investment income (loss) $ (424,465) Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== ================== =================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =================== ================== [remainder of page left intentionally blank]
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of The selected financial information for of the Fund for the fiscal years ended March 31, 2005 Company and March 31, 2006. The information its consolidated subsidiaries set forth below has been excerpted and derived from the FundCompany's audited financial statements contained in its Annual Report to Shareholders on Form 10-K for the fiscal year ended March 31February 6, 2005 1999 (the "Form 10-K") and its Quarterly Report on Form 10-Q for the fiscal year twelve weeks ended March 31May 1, 20061999, and its Quarterly Report on Form 10-Q for the twelve weeks ended April 25, 1998. More comprehensive financial and other information is included in such reports (including management's discussion and analysis of results of operations and financial position) and in other reports and documents filed by the Company with the SEC. The Annual Reports have previously been provided to Shareholders of the Fund, and can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxx). The summary of selected financial information set forth below is qualified in its entirety by reference to such reports and documents filed with the SEC and all of the financial information, the notes thereto statements and related matter notes contained therein. -------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- March These reports and other documents may be examined and copies thereof may be obtained from the SEC in the manner set forth below under "--Available Information." GENERAL NUTRITION COMPANIES, INC. SELECTED CONSOLIDATED FINANCIAL INFORMATION (IN THOUSANDS) TWELVE WEEKS ENDED FISCAL YEAR ENDED --------------------------- -------------------------------- APRIL 25, FEBRUARY 6, JANUARY 31, 2005 March 31MAY 1, 2006 ----------------------------------------------------------------------- ------------------ ------------------ ASSETS Investments at fair value (cost $23,924,469) 1999 1998 1999 1998 ------------ ------------- --------------- --------------- INCOME STATEMENT DATA: Net revenue...................................... $ 25,298,250 Advance for investment 336,357 $ 327,617 $ 1,417,746 $ 1,193,485 Cost of sales.................................... 222,088 195,852 896,539 726,016 Selling, general and administrative.............. 75,844 77,572 337,594 272,215 Compensation expense--non-cash................... -- -- 276 4,083 Operating earnings............................... 38,425 54,193 183,337 191,171 Interest expense................................. 11,802 5,259 36,608 22,926 Income taxes..................................... 9,851 18,696 55,752 64,880 Net earnings..................................... 16,772 30,238 90,977 103,365 BALANCE SHEET DATA: Working capital.................................. 197,353 161,652 211,142 141,361 Total assets..................................... 1,116,952 1,012,011 1,127,986 933,938 Total outstanding indebtedness................... 994,363 689,609 1,023,070 583,226 Stockholders' equity............................. 122,589 322,402 104,916 350,712 Except as otherwise stated in Portfolio Funds 1,000,000 Cash $ 103,514 286,310 Due this Offer to Purchase, the information concerning the Company contained herein has been taken from Adviser 219,986 22,657 Prepaid expenses or based upon publicly available documents on file with the SEC and other assets 25,900 16,893 ------------------ ------------------ ------------------ ------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ LIABILITIES Capital contribution received in advance 200,000 Due publicly available information. Although the Purchaser, Numico, the Information Agent and the Dealer Manager do not have any knowledge that any such information is untrue, none of the Purchaser, Numico, the Information Agent and the Dealer Manager takes any responsibility for the accuracy or completeness of such information or for any failure by the Company to Adviser 249,400 131,539 Accrued Trustees' fees disclose events that may have occurred and expenses 12,683 Accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== NET ASSET VALUE, Offering and Redemption Price Per Share: Based on net assets may affect the significance or accuracy of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 and 250,576 shares outstanding as of March 31, 2006 $ 100.00 $ 104.52 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ For the Period from October 8, 2004 (Date of For the year Formation) to ended March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ EXPENSES Investment advisory fees 383,675 Accounting fees 80,208 Transfer agent and escrow fees 30,160 Professional fees 132,916 Trustees' fees 48,850 Organizational costs 220,000 13,272 Amortization of deferred offering costs 120,577 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ Total Expenses 220,000 854,912 Less: fees waived and expenses reimbursed (219,986) (375,325) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ OPERATIONS Net investment income (loss) $ (424,465) Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== ================== =================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =================== ================== [remainder of page left intentionally blank]any such information.
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of selected financial information for the Fund for the fiscal years ended March 31, 2005 and March 31, 2006. The information below has been excerpted from the Fund's audited financial statements contained in its Annual Report to Shareholders for the fiscal year ended March 31, 2005 and for the fiscal year ended March 31, 2006. The Annual Reports have previously been provided to Shareholders of the Fund, and can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxxhttp://www.sec.gov). The summary of selected financial sumxxxx xx xxxxxxxx xinancial information set forth below is qualified in its entirety by reference to reports and the financial information, the notes thereto and related matter contained therein. -------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- ------------------ ------------------ March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ ASSETS Investments at fair value (cost $23,924,469) $ 25,298,250 Advance for investment in Portfolio Funds 1,000,000 Cash $ 103,514 286,310 Due from Adviser 219,986 22,657 Prepaid expenses and other assets 25,900 16,893 ------------------ ------------------ ------------------ ------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ LIABILITIES Capital contribution received in advance 200,000 Due to Adviser 249,400 131,539 Accrued Trustees' fees and expenses 12,683 Accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== NET ASSET VALUE, Offering and Redemption Price Per Share: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 and 250,576 shares outstanding as of March 31, 2006 $ 100.00 $ 104.52 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ -------------------------------------------------------------------------------- A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ -------------------------------------------------------------------------------- ----------------------------------------------------------------------- ------------------ ------------------ For the Period from October 8, 2004 (Date of For the year Formation) to ended March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ EXPENSES Investment advisory fees 383,675 Accounting fees 80,208 Transfer agent and escrow fees 30,160 Professional fees 132,916 Trustees' fees 48,850 Organizational costs 220,000 13,272 Amortization of deferred offering costs 120,577 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ Total Expenses 220,000 854,912 Less: fees waived and expenses reimbursed (219,986) (375,325) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ -------------------------------------------------------------------------------- A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ -------------------------------------------------------------------------------- ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March 31 Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ OPERATIONS Net investment income (loss) $ (424,465) Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== ================== =================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =================== ================== [remainder of page left intentionally blank]] -------------------------------------------------------------------------------- A T FUND OF FUNDS STATEMENTS OF CASH FLOWS -------------------------------------------------------------------------------- ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ Increase (decrease) in cash - Cash flows from operating activities: Net Increase in Net Assets Resulting from Operations $ 0 $ 1,029,161 Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities: Amortization of deferred offering costs 120,577 Cost of Purchase of Portfolio Funds (26,574,469) Proceeds from Sale of Portfolio Funds 2,729,845 Increase in advance for investment in Portfolio Funds (1,000,000) Increase in dividends and interest receivable (3,773) Increase in deferred offering costs (131,539) Decrease (increase) in reimbursement due from Adviser (219,986) 197,329 Increase (decrease) in organization costs payable to Adviser 220,000 (88,461) Decrease (increase) in prepaid expenses (25,900) 23,742 Increase in accrued Trustees' fees and expenses 12,683 Increase in other accrued expenses 87,062 Increase in other liabilities 1,665 Realized gain on investments in Portfolio Funds (79,845) Unrealized appreciation on investments in Portfolio Funds (1,373,781) ------------------- ------------------ ------------------- ------------------ Net Cash Used by Operating Activities (25,886) (25,049,804) ------------------- ------------------ ------------------- ------------------ Cash flows from financing activities: Increase (decrease) in note payable to Adviser 29,400 (29,400) Proceeds from shares issued 100,000 25,062,000 Increase in capital contribution received in advance 200,000 ------------------- ------------------ ------------------- ------------------ Net Cash Provided by Financing Activities 129,400 25,232,600 ------------------- ------------------ ------------------- ------------------ Net Increase in Cash 103,514 182,796 Cash Balance Beginning of Period 0 103,514 ------------------- ------------------ ------------------- ------------------ End of Period $ 103,514 $ 286,310 =================== ==================
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of selected financial information for the Fund for the fiscal years year ended March 31, 2005 and March 31, 20062005. The information below with respect to the Fund's first fiscal year has been excerpted from the Fund's audited financial statements contained in its Annual Report to Shareholders for the fiscal year ended March 31, 2005 and for the fiscal year ended March 312005, 2006. The Annual Reports have which has previously been provided to Shareholders of the Fund, and . Copies of the audited statements can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxxhttp://www.sec.gov). The summary of selected sxxxxxx xx xxxxxxxx financial information set forth below is qualified in its entirety by reference to reports such statements and the financial information, the notes thereto and related matter contained therein. -------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS STATEMENT OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- March 31, 2005 March 31, 2006 ----------------------------------------------------------------------- ------------------ ------------------ ---------------------------------------------------------------------------------------- -------------------- ASSETS Investments at fair value (cost Cash $23,924,469) $ 25,298,250 Advance for investment in Portfolio Funds 1,000,000 Cash $ 103,514 286,310 Due Reimbursement receivable from Adviser 219,986 22,657 Prepaid expenses and other assets insurance 25,900 16,893 ------------------ ------------------ ------------------ ------------------ -------------------- Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ -------------------- LIABILITIES Capital contribution received in advance 200,000 Due Organizational costs payable to Adviser 249,400 131,539 Accrued Trustees' fees and expenses 12,683 Accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ 220,000 Note payable to Adviser 29,400 -------------------- Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ -------------------- NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== ================== ================== NET ASSET VALUE, Offering and Redemption Price Per ShareOFFERING AND REDEMPTION PRICE PER SHARE: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 and 250,576 shares outstanding as of March 31, 2006 $ 100.00 $ 104.52 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ For the Period from October 8, 2004 (Date of For the year Formation) to ended March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ EXPENSES Investment advisory fees 383,675 Accounting fees 80,208 Transfer agent and escrow fees 30,160 Professional fees 132,916 Trustees' fees 48,850 Organizational costs 220,000 13,272 Amortization of deferred offering costs 120,577 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ Total Expenses 220,000 854,912 Less: fees waived and expenses reimbursed (219,986) (375,325) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ OPERATIONS Net investment income (loss) $ (424,465) Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== ================== =================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning ------------------------------------------------------------------------------------------------------------- A T FUND OF FUNDS STATEMENT OF OPERATIONS For the Period from October 8, 2004 (Date of Period Formation) to March 31, 2005 ------------------------------------------------------------------------------------------------------------- INVESTMENT INCOME Interest income $14 -------------------- Total Investment Income 14 -------------------- EXPENSES Organizational costs 220,000 Less: reimbursement from Adviser (219,986) -------------------- Total Expenses Net of Reimbursement 14 -------------------- NET INVESTMENT INCOME (LOSS) 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =================== ================== [remainder of page left intentionally blank]-------------------- INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS 0 --------------------
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of selected financial information for the Fund for the fiscal years year ended March 31, 2005 and March 31for the six months ended September 30, 20062005. The information below with respect to the Fund's first fiscal year has been excerpted from the Fund's audited financial statements contained in its Annual Report to Shareholders for the fiscal year ended March 31, 2005 and for the fiscal year ended March 31, 20062005. The information with respect to the six months ended September 30, 2005 has been excerpted from the Fund's unaudited financial statements contained in its Semi-Annual Reports Report to Shareholders dated September 30, 2005. Both the Annual Report and Semi-Annual Report have previously been provided to Shareholders of the Fund, and both can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxx). The summary of selected financial information set forth below is qualified in its entirety by reference to reports and the financial information, the notes thereto and related matter contained therein. -------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- ------------------------------------------------------------------------------------------------------------- September March 31, 2005 March 3130, 2006 ----------------------------------------------------------------------- ------------------ ------------------ 2005 (unaudited) ------------------------------------------------------------------------------------------------------------- ASSETS Investments at fair value (cost $23,924,46921,300,000) $ 25,298,250 21,702,301 Advance for of investment in Portfolio Funds 1,000,000 300,000 Cash $ 103,514 286,310 Due 1,016,960 Reimbursement receivable from Adviser 219,986 22,657 0 Prepaid expenses and other assets 25,900 16,893 ------------------ ------------------ ------------------ ------------------ 23,231 ------------------------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ 23,042,492 ------------------------------------ LIABILITIES Capital contribution received in advance 200,000 Due Amounts due to Adviser 249,400 131,539 50,894 Accrued Trustees' fees and expenses 12,683 Accrued 0 19,648 Other accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ 0 40,887 ------------------------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ 111,429 ------------------------------------ NET ASSETS $ 100,000 $ 26,191,161 22,931,063 ================== ================== ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 22,692,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ 0 239,063 ------------------------------------ NET ASSETS $ 100,000 $ 26,191,161 22,931,063 ================== ================== ================== ================== NET ASSET VALUE, Offering and Redemption Price Per ShareOFFERING AND REDEMPTION PRICE PER SHARE: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 22,931,063 and 250,576 226,538 shares outstanding as of March 31September 30, 2006 2005 $ 100.00 $ 104.52 101.22 ================== =================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ ------------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ ------------------------------------------------------------------------------------------------------------ For the Period from October 8, For the six 2004 (Date of For the year months ended Formation) to ended September 30, March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ 2005 (unaudited) ------------------------------------------------------------------------------------------------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ $ 10,895 ------------------------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ 10,895 ------------------------------------ EXPENSES Investment advisory fees 383,675 0 140,820 Accounting fees 80,208 0 36,458 Transfer agent and escrow fees 30,160 0 15,172 Professional fees 132,916 0 40,909 Trustees' fees 48,850 0 20,455 Organizational costs 220,000 13,272 Amortization of deferred offering Offering costs 120,577 0 54,808 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ 0 16,318 ------------------------------------ Total Expenses 220,000 854,912 338,212 Less: fees waived and expenses reimbursed reimbursement from Adviser (219,986) (375,325162,193) ------------------ ------------------ ------------------ ------------------ ------------------------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ 176,019 ------------------------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465165,124) ------------------ ------------------ ------------------ ------------------ ------------------------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 investment in affiliated Portfolio Fund 0 1,886 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ 0 402,301 ------------------------------------ 404,187 ------------------------------------ INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 239,063 ================== =================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ ------------------------------------------------------------------------------------------------------------- A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ ------------------------------------------------------------------------------------------------------------ For the Period from For the six October 8, For the year months ended 2004 (Date of ended March September 30, Formation) to 31, 2006 2005 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ (unaudited) ------------------------------------------------------------------------------------------------------------ OPERATIONS Net investment income (loss) $ 0 $ (424,465165,124) Realized gain from investment in affiliated Portfolio Fund 0 1,886 Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ 0 402,301 ------------------------------------- Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ 239,063 ------------------------------------- CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ 22,592,000 ------------------------------------- Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ 22,592,000 ------------------------------------- Increase in Net Assets 100,000 26,091,161 22,831,063 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ ------------------------------------- End of Period $ 100,000 $ 26,191,161 22,931,063 =================== ================== =================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ 225,538 ------------------------------------- Shares Outstanding - End of Period 1,000 250,576 226,538 =================== =================== [remainder of page left intentionally blank]] ------------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS STATEMENTS OF CASH FLOWS ------------------------------------------------------------------------------------------------------------ For the Period from For the six October 8, months ended 2004 (Date of September 30, Formation) to 2005 March 31, 2005 (unaudited) ------------------------------------------------------------------------------------------------------------ INCREASE (DECREASE) IN CASH - CASH FLOWS FROM OPERATING ACTIVITIES: Net Increase in Net Assets Resulting from Operations $ 0 $ 239,063 ADJUSTMENTS TO RECONCILE NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS TO NET CASH USED IN OPERATING ACTIVITIES: Purchase of Portfolio Funds 0 (21,550,000) Sale of Portfolio Funds 0 251,886 Increase in advance for investment in Portfolio Funds 0 (300,000) Increase in dividends and interest receivable 0 (3,547) Decrease (increase) in prepaid expenses (25,900) 6,216 Decrease (increase) in reimbursement due from Adviser (219,986) 219,986 Increase (decrease) in organization costs payable to Adviser 220,000 (169,106) Increase in accrued Trustees' fees and expenses 0 19,648 Increase in other accrued expenses 0 40,887 Realized gain on Portfolio Fund 0 (1,886) Unrealized appreciation on Portfolio Funds 0 (402,301) ------------------------------------- Net Cash Used by Operating Activities (25,886) (21,649,154) ------------------------------------- CASH FLOWS FROM FINANCING ACTIVITIES: Increase (decrease) in note payable to Adviser 29,400 (29,400) Proceeds from shares issued 100,000 22,592,000 ------------------------------------- Net Cash Provided by Financing Activities 129,400 22,562,600 ------------------------------------- Net Increase in Cash 103,514 913,446 Cash Balance Beginning of Period 0 103,514 ------------------------------------ End of Period $ 103,514 $ 1,016,960 =====================================
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of selected financial information for the Fund for the fiscal years year ended March 31, 2005 and March 31for the six months ended September 30, 20062005. The information below with respect to the Fund's first fiscal year has been excerpted from the Fund's audited financial statements contained in its Annual Report to Shareholders for the fiscal year ended March 31, 2005 and for the fiscal year ended March 31, 20062005. The information with respect to the six months ended September 30, 2005 has been excerpted from the Fund's unaudited financial statements contained in its Semi-Annual Reports Report to Shareholders dated September 30, 2005. Both the Annual Report and Semi-Annual Report have previously been provided to Shareholders of the Fund, and both can be obtained for free at the website of the SEC (xxxx://xxx.xxx.xxx). The summary of selected financial information set forth below is qualified in its entirety by reference to reports and the financial information, the notes thereto and related matter contained therein. -------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- ------------------------------------------------------------------------------------------------------ September March 31, 2005 March 3130, 2006 ----------------------------------------------------------------------- ------------------ ------------------ 2005 (unaudited) ------------------------------------------------------------------------------------------------------ ASSETS Investments at fair value (cost $23,924,46921,300,000) $ 25,298,250 21,702,301 Advance for of investment in Portfolio Funds 1,000,000 300,000 Cash $ 103,514 286,310 Due 1,016,960 Reimbursement receivable from Adviser 219,986 22,657 0 Prepaid expenses and other assets 25,900 16,893 ------------------ ------------------ 23,231 ------------------ ------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ 23,042,492 ------------------ ------------------ LIABILITIES Capital contribution received in advance 200,000 Due Amounts due to Adviser 249,400 131,539 50,894 Accrued Trustees' fees and expenses 12,683 Accrued 0 19,648 Other accrued expenses and other liabilities 88,727 ------------------ ------------------ 0 40,887 ------------------ ------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ 111,429 ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== 22,931,063 ================== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 22,692,000 Distributable Earnings 1,029,161 ------------------ ------------------ 0 239,063 ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ================== 22,931,063 ================== ================== NET ASSET VALUE, Offering and Redemption Price Per ShareOFFERING AND REDEMPTION PRICE PER SHARE: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 22,931,063 and 250,576 226,538 shares outstanding as of March 31September 30, 2006 2005 $ 100.00 $ 104.52 101.22 ================== ================== [remainder of page left intentionally blankREMAINDER OF XXXX LEFT INTENTIONALLY BLANK] ------------------------------------------------------------------------------------------ ------------------ ------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ ------------------------------------------------------------------------------------------------------ For the Period from October 8, For the six 2004 (Date of For the year months ended Formation) to ended September 30, March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ 2005 (unaudited) ------------------------------------------------------------------------------------------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ $ 10,895 ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ 10,895 ------------------ ------------------ EXPENSES Investment advisory fees 383,675 0 140,820 Accounting fees 80,208 0 36,458 Transfer agent and escrow fees 30,160 0 15,172 Professional fees 132,916 0 40,909 Trustees' fees 48,850 0 20,455 Organizational costs 220,000 13,272 Amortization of deferred offering Offering costs 120,577 0 54,808 Other expenses 45,254 ------------------ ------------------ 0 16,318 ------------------ ------------------ Total Expenses 220,000 854,912 338,212 Less: fees waived and expenses reimbursed reimbursement from Adviser (219,986) (375,325162,193) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ 176,019 ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465165,124) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 investment in affiliated Portfolio Fund 0 1,886 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 0 402,301 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 404,187 ------------------ ------------------ INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 239,063 ================== ================== [remainder of page left intentionally blankREMAINDER OF XXXX LEFT INTENTIONALLY BLANK] ------------------------------------------------------------------------------------------ ------------------ ------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ ------------------------------------------------------------------------------------------------------ For the Period from For the six October 8, For the year months ended 2004 (Date September 30, of ended March 2005 Formation) (unaudited) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ ------------------------------------------------------------------------------------------------------ OPERATIONS Net investment income (loss) $ 0 $ (424,465165,124) Realized gain from investment in affiliated Portfolio Fund 0 1,886 Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- 0 402,301 ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- 239,063 ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- 22,592,000 ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- 22,592,000 ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 22,831,063 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== ================== =22,931,063 ================== ================== SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- 225,538 ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =226,538 ================== ================== [remainder REMAINDER OF XXXX LEFT INTENTIONALLY BLANK] ------------------------------------------------------------------------------------------------------ A T FUND OF FUNDS STATEMENTS OF CASH FLOWS ------------------------------------------------------------------------------------------------------ For the Period from For the six October 8, months ended 2004 (Date September 30, of page left intentionally blank]2005 Formation) (unaudited) to March 31, 2005 ------------------------------------------------------------------------------------------------------ INCREASE (DECREASE) IN CASH - CASH FLOWS FROM OPERATING ACTIVITIES: Net Increase in Net Assets Resulting from Operations $ 0 $ 239,063 ADJUSTMENTS TO RECONCILE NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS TO NET CASH USED IN OPERATING ACTIVITIES: Purchase of Portfolio Funds 0 (21,550,000) Sale of Portfolio Funds 0 251,886 Increase in advance for investment in Portfolio Funds 0 (300,000) Increase in dividends and interest receivable 0 (3,547) Decrease (increase) in prepaid expenses (25,900) 6,216 Decrease (increase) in reimbursement due from Adviser (219,986) 219,986 Increase (decrease) in organization costs payable to Adviser 220,000 (169,106) Increase in accrued Trustees' fees and expenses 0 19,648 Increase in other accrued expenses 0 40,887 Realized gain on Portfolio Fund 0 (1,886) Unrealized appreciation on Portfolio Funds 0 (402,301) ------------------ ------------------ Net Cash Used by Operating Activities (25,886) (21,649,154) ------------------ ------------------ CASH FLOWS FROM FINANCING ACTIVITIES: Increase (decrease) in note payable to Adviser 29,400 (29,400) Proceeds from shares issued 100,000 22,592,000 ------------------ ------------------ Net Cash Provided by Financing Activities 129,400 22,562,600 ------------------ ------------------ Net Increase in Cash 103,514 913,446 Cash Balance Beginning of Period 0 103,514 ------------------ ------------------ End of Period $ 103,514 $ 1,016,960 ================== ==================
Appears in 1 contract
SELECTED FINANCIAL INFORMATION. Set forth below is a summary of certain selected consolidated financial information for relating to the Fund for the fiscal years ended March 31, 2005 Company and March 31, 2006. The information below its subsidiaries which has been excerpted or derived from the Fundunaudited financial statements contained in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2000 (the "Form 10-Q"), and the audited financial statements contained in its the Company's Annual Report to Shareholders on Form 10-K405 for the fiscal year ended March December 31, 2005 1999 (the "Form 10-K"). Such Form 10-Q and for Form 10-K are each incorporated herein by reference. More comprehensive financial information is included in the fiscal year ended March 31Form 10-Q, 2006. The Annual Reports have previously been provided to Shareholders of Form 10-K and other documents filed by the Fund, and can be obtained for free at Company with the website of the SEC (xxxx://xxx.xxx.xxx)Commission. The summary of selected financial information set forth below that follows is qualified in its entirety by reference to such reports and other documents, including the financial information, the notes thereto statements and related matter notes contained therein. -------------------------------------------------------------------------------- A T FUND OF FUNDS -------------------------------------------------------------------------------- STATEMENTS OF ASSETS AND LIABILITIES -------------------------------------------------------------------------------- ----------------------------------------------------------------------- -------- March Such reports and other documents may be examined and copies may be obtained from the offices of the Commission in the manner set forth below under "Available Information." The financial information for the nine month period ended September 30, 2000 has not been audited and, in the opinion of the management of the Company, reflects all adjustments (consisting of normal recurring adjustments) which are necessary for a fair presentation of such information. Results for the nine-month period ended September 30, 2000, are not necessarily indicative of results for the full year. ALYSIS TECHNOLOGIES, INC. SELECTED FINANCIAL INFORMATION NINE MONTHS ENDED YEAR ENDED DECEMBER 31, 2005 March 31SEPTEMBER 30, 2006 ----------------------------------------------------------------------- ------------------ ------------------ ASSETS Investments at fair value ------------------------------ ------------------- 1999 1998 1997 2000 1999 -------- -------- -------- -------- -------- (IN THOUSANDS, EXCEPT PER SHARE DATA) Statements of Operations: Revenues: License..................................................... $ 7,623 $ 3,141 $ 7,911 $ 2,434 $ 5,769 Service..................................................... 7,290 5,661 11,347 1,923 5,525 Maintenance................................................. 4,899 4,369 3,223 2,890 3,810 ------- -------- ------- -------- ------- Total revenues.............................................. 19,812 13,171 22,481 7,247 15,104 ------- -------- ------- -------- ------- Cost of revenues: License..................................................... 77 231 362 23 47 Service..................................................... 4,334 5,171 4,862 782 3,238 Maintenance................................................. 2,129 2,500 837 1,240 1,710 ------- -------- ------- -------- ------- Total cost of revenues...................................... 6,540 7,902 6,061 2,045 4,995 ------- -------- ------- -------- ------- Operating Expenses: Sales and marketing......................................... 4,476 5,234 4,757 4,408 3,297 General and administrative.................................. 7,582 7,850 7,101 8,356 5,845 Product development......................................... 1,874 4,861 4,480 3,057 1,070 ------- -------- ------- -------- ------- Total operating expenses.................................... 13,932 17,945 16,338 15,821 10,212 ------- -------- ------- -------- ------- Operating income (loss)..................................... (660) (12,676) 82 (10,619) (103) Other Income (expense): Interest Expense............................................ -- -- (4) -- -- Interest income and other................................... 349 395 506 3,931 224 ------- -------- ------- -------- ------- Income (loss) before income taxes........................... (311) (12,281) 584 (6,688) 121 ------- -------- ------- -------- ------- Income taxes................................................ -- -- 23 Net income (loss)........................................... $ (311) $23,924,469(12,281) $ 25,298,250 Advance for investment in Portfolio Funds 1,000,000 Cash 561 $ 103,514 286,310 Due from Adviser 219,986 22,657 Prepaid expenses and other assets 25,900 16,893 ------------------ ------------------ ------------------ ------------------ Total Assets 349,400 26,624,110 ------------------ ------------------ ------------------ ------------------ LIABILITIES Capital contribution received in advance 200,000 Due (6,688) $ 121 Preferred stock dividends................................... $ 117 $ -- $ -- $ 210 $ 47 ------- -------- ------- -------- ------- Net income (loss) applicable to Adviser 249,400 131,539 Accrued Trustees' fees and expenses 12,683 Accrued expenses and other liabilities 88,727 ------------------ ------------------ ------------------ ------------------ Total Liabilities 249,400 432,949 ------------------ ------------------ ------------------ ------------------ NET ASSETS common stockholders......... $ 100,000 (428) $(12,281) $ 26,191,161 561 $ (6,898) $ 74 =========== ======== =========== ======== ======= Basic net income (loss) per share applicable to common stockholders.............................................. $ (0.03) $ (1.06) $ 0.05 $ (.52) $ .01 ======= ======== ================== COMPONENTS OF NET ASSETS Paid-in capital $ 100,000 $ 25,162,000 Distributable Earnings 1,029,161 ------------------ ------------------ ------------------ ------------------ NET ASSETS $ 100,000 $ 26,191,161 ================== ======= Diluted net income (loss) per share applicable to common stockholders.............................................. $ (0.03) $ (1.06) $ 0.05 $ (.52) $ .01 ======= ======== =========== ======== ============ Shares used in computing basic net income (loss) per share applicable to common stockholders......................... 12,326 11,596 11,164 13,334 12,134 ======= NET ASSET VALUE, Offering and Redemption Price Per Share: Based on net assets of $100,000 and 1,000 shares outstanding as of March 31, 2005, and net assets of $26,191,161 and 250,576 shares outstanding as of March 31, 2006 $ 100.00 $ 104.52 ================== ================== [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF OPERATIONS ------------------------------------------------------------------------------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ For the Period from October 8, 2004 (Date of For the year Formation) to ended March 31, 2005 March 31, 2006 ------------------ ------------------ ----------------------------------------------------------------------- ------------------ ------------------ INVESTMENT INCOME Income from Portfolio Funds $ 30,288 Interest income $ 14 24,834 ------------------ ------------------ ------------------ ------------------ Total Investment Income 14 55,122 ------------------ ------------------ ------------------ ------------------ EXPENSES Investment advisory fees 383,675 Accounting fees 80,208 Transfer agent and escrow fees 30,160 Professional fees 132,916 Trustees' fees 48,850 Organizational costs 220,000 13,272 Amortization of deferred offering costs 120,577 Other expenses 45,254 ------------------ ------------------ ------------------ ------------------ Total Expenses 220,000 854,912 Less: fees waived and expenses reimbursed (219,986) (375,325) ------------------ ------------------ ------------------ ------------------ Total Expenses Net of Fee Waiver and Expense Reimbursement 14 479,587 ------------------ ------------------ ------------------ ------------------ NET INVESTMENT INCOME (LOSS) 0 (424,465) ------------------ ------------------ ------------------ ------------------ REALIZED AND UNREALIZED GAINS ON PORTFOLIO FUNDS Net Realized gain from investments 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------ ------------------ ------------------ ------------------ NET REALIZED AND UNREALIZED GAIN ON PORTFOLIO FUNDS 1,453,626 ------------------ ------------------ INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 0 $ 1,029,161 ================== ============ Shares used in computing diluted net income (loss) per share applicable to common stockholders......................... 12,326 11,596 12,017 13,334 13,042 ======= [remainder of page left intentionally blank] ------------------------------------------------------------------------------------------ ------------------ A T FUND OF FUNDS STATEMENTS OF CHANGES IN NET ASSETS ------------------------------------------------------------------------------------------ ------------------ ---------------------------------------------------------------------- ------------------- ------------------ For the Period from October 8, For the year 2004 (Date of ended March Formation) to 31, 2006 March 31, 2005 ------------------- ------------------ ---------------------------------------------------------------------- ------------------- ------------------ OPERATIONS Net investment income (loss) $ (424,465) Net realized gain on investments in Portfolio Funds 79,845 Net change in unrealized appreciation of investments in Portfolio Funds 1,373,781 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets Resulting from Operations $ 0 1,029,161 ------------------- ------------------ ------------------- ------------------ CAPITAL SHARE TRANSACTIONS Proceeds from shares issued 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets from Capital Share Transactions 100,000 25,062,000 ------------------- ------------------ ------------------- ------------------ Increase in Net Assets 100,000 26,091,161 NET ASSETS Beginning of Period 0 100,000 ------------------- ------------------ ------------------- ------------------ End of Period $ 100,000 $ 26,191,161 =================== =========== ======== =================== ================== YEAR ENDED DECEMBER 31, ------------------------------ NINE MONTHS ENDED 1999 1998 1997 SEPTEMBER 30, 2000 -------- -------- -------- ------------------- (IN THOUSANDS, EXCEPT PER SHARE TRANSACTIONS Shares Outstanding - Beginning of Period 0 1,000 Sale of shares 1,000 249,576 ------------------- ------------------ ------------------- ------------------ Shares Outstanding - End of Period 1,000 250,576 =================== ================== [remainder of page left intentionally blank]DATA) Balance Sheet Data: Working Capital................................. $ 5,873 $ 3,124 $15,008 $1,312 Total assets.................................... 14,601 10,010 19,288 6,660 Total debt...................................... -- -- -- -- Convertible preferred stock..................... 3,814 -- -- 3,814 Stockholders' equity (net capital deficiency)... 9,014 3,823 15,623 3,728
Appears in 1 contract
