Statements of Operations for the three and six months ended June 30, 1999 and 1998.......................... 4
Statements of Operations for the Years Ended December 31, 1998, 1997 and 1996.................................... 13
Statements of Operations. FISCAL YEARS ENDED PERIOD FROM INCEPTION -------------------------- (JULY 14, 1995) DECEMBER 28, DECEMBER 29, THROUGH DECEMBER 31, 1997 1996 1995 ------------ ------------ --------------------- Revenue...................... $ 59,267,645 $ 45,597,269 $ 9,303,564 Costs and Expenses: Cost of products sold...... 22,241,142 17,609,683 3,699,970 Salaries and benefits...... 18,670,954 14,525,287 3,340,169 General and administrative. 34,931,896 23,179,377 6,226,577 Provision for store closures.................. 4,966,862 -- -- ------------ ------------ ----------- Total costs and expenses. 80,810,854 55,314,347 13,266,716 ------------ ------------ ----------- Loss from Operations......... (21,543,209) (9,717,078) (3,963,152) Other Income (Expense): Interest expense........... (3,754,194) (1,900,969) (495,128) Other income (expense)..... (3,265,696) 1,444,616 12,752 ------------ ------------ ----------- Total other expense...... (7,019,890) (456,353) (482,376) ------------ ------------ ----------- Net Loss..................... $(28,563,099) $(10,173,431) $(4,445,528) ============ ============ =========== The accompanying notes to financial statements are an integral part of these statements. F-81 BC GOLDENGATE, L.L.C. STATEMENTS OF MEMBERS' EQUITY (DEFICIT) FOR THE YEARS ENDED DECEMBER 28, 1997, DECEMBER 29, 1996 AND FOR THE PERIOD FROM INCEPTION (JULY 14, 1995) THROUGH DECEMBER 31, 1995
Statements of Operations. 4 Statements of Stockholders' Equity (Deficit)................... 5
Statements of Operations. 27 Statements of Stockholders' Equity.................................................... 28 Statements of Cash Flows.............................................................. 29 Reconciliation of Net Income to Net Cash Provided by Operating Activities............. 30 Notes to Financial Statements......................................................... 31 REPORT OF INDEPENDENT ACCOUNTANTS To the Directors and Stockholders of Advanced Magnetics, Inc.: We have audited the accompanying balance sheets of Advanced Magnetics, Inc. (the "Company") as of September 30, 1996 and 1995 and the related statements of operations, stockholders' equity, and cash flows for each of the three years in the period ended September 30, 1996. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Advanced Magnetics, Inc. as of September 30, 1996 and 1995, and the results of its operations and its cash flows for each of the three years in the period ended September 30, 1996, in conformity with generally accepted accounting principles. As discussed in Note A to the financial statements, effective October 1, 1994, Advanced Magnetics, Inc. adopted the Statement of Financial Accounting Standards No. 115, "Accounting for Certain Investments in Debt and Equity Securities". COOPERS & XXXXXXX L.L.P. Boston, Massachusetts November 6, 1996 27 ADVANCED MAGNETICS, INC. BALANCE SHEETS SEPTEMBER 30, ------------------------- 1996 1995 ----------- ----------- ASSETS Current Assets:
Statements of Operations for the Years Ended December 31, 1997 and December 31, 1996, and for the Period from Reactivation [December 31, 1994] through December 31, 1997...........................4 Statements of Cash Flows for the Years Ended December 31, 1997 and December 31, 1996, and for the Period from Reactivation [December 31, 1994] through December 31, 1997...........................5
Statements of Operations. 21 Statements of Changes in Net Assets.......... 22
Statements of Operations. Period From Period From Jan. 1, 2004 Three Months Three Months Jan. 1, 2004 (Inception) Ended Ended (Inception) To Year Ended Year Ended March 31, 2010 March 31, 2011 To March 31, 2011 Dec. 31, 2009 Dec. 31, 2010 (Unaudited) (Unaudited) Dec. 31, 2010 (Unaudited) --------------- ---------------- --------------- ---------------- --------------- --------------- Revenues $ - $ - $ - $ - $ - $ - --------------- ---------------- --------------- ---------------- --------------- --------------- - - - - - - --------------- ---------------- --------------- ---------------- --------------- --------------- Operating expenses: Amortization & depreciation 10,140 8,841 - - 97,727 97,727 General and administrative 790,319 187,259 51,133 86,412 2,771,175 2,860,586 --------------- ---------------- --------------- ---------------- --------------- --------------- 800,459 196,100 51,133 86,412 2,868,901 2,958,313 --------------- ---------------- --------------- ---------------- --------------- --------------- Operating - other: Gain on asset sales - - - - - - --------------- ---------------- --------------- ---------------- --------------- --------------- Gain (loss) from operations (800,459) (196,100) (51,133) (86,412) (2,868,901) (2,958,313) --------------- ---------------- --------------- ---------------- --------------- --------------- Other income (expense): Option Expense (55,715) Interest expense (208,001) (261,185) (112) (7,437) (480,864) (488,302) --------------- ---------------- --------------- ---------------- --------------- --------------- Income (loss) before provision for income taxes (1,008,460) (513,000) (51,245) (96,849) (3,349,765) (3,446,615) Provision for income tax - - - - - - --------------- ---------------- --------------- ---------------- --------------- --------------- Net income (loss) $ (1,008,460) $ (513,000) $ (51,245) $ (96,849) $ (3,349,765) $ (3,446,615) =============== ================ =============== ================ =============== =============== Net income (loss) per share (Basic and fully diluted) $ (0.43) $ (0.22) $ (0.02) $ (0.04) =============== ================ =============== ================ Weighted average number of common shares outstanding 2,346,544 2,373,044 2,346,544 3,059,032 =============== ================ =============== ================ The accompanying notes are an integral part of the financial statements. TransBioTec (Development Stage Company) STATEMENTS OF STOCKHOLDERS' EQUITY Deficit Accumulated Common Stock During ...
Statements of Operations. The pro forma adjustments included in the unaudited pro forma condensed combined statements of operations are as follows:
Statements of Operations. For the Years Ended December 31, --------------------------------- 1997 1996 ------------- ------------- SALES, NET $ 884,764 $ 565,097 COST OF GOODS SOLD 552,210 311,588 ------------- ------------- Gross Profit 332,554 253,509 ------------- ------------- OPERATING EXPENSES Depreciation expense 49,200 40,518 General and administrative 202,035 331,278 ------------- ------------- Total Operating Expenses 251,235 371,796 ------------- ------------- Income (Loss) from Operations 81,319 (118,287) ------------- ------------- OTHER INCOME (EXPENSE) Unrealized gain on trading securities 18,297 - Rental income 70,688 - Interest income 350 803 Bad debt expense (27,796) (14,466) Loss on sale of assets (707) - ------------- ------------- Total Other Income (Expense) 60,832 (13,663) ------------- ------------- INCOME (LOSS) BEFORE INCOME TAXES 142,151 (131,950) INCOME TAXES (Note 5) 605 - ------------- ------------- NET INCOME (LOSS) $ 141,546 $ (131,950) ============= ============= WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 25,000 25,000 ============= ============= PRIMARY INCOME (LOSS) PER SHARE $ 5.66 $ (5.28) ============= ============= FULLY DILUTED INCOME (LOSS) PER SHARE $ 5.66 $ (5.28) ============= ============= The accompanying notes are an integral part of these financial statements. MOMENTUM ASIA, INC. (Formerly New Age Publications, Inc.) Statements of Stockholders' Equity Common Stock Additional Currency -------------------------------- Paid-In Transaction Accumulated Shares Amount Capital adjustment Deficit --------------------------------------------------------------------------------------- Balance, December 31, 1995 25,000 $ 953 $ 298,388 $ 11 $ (30,266) Contribution of capital by shareholder - - 402,425 - - Currency translation adjustment - - - 34,017 - Net loss for the year ended December 31, 1996 - - - - (131,950) ---------------------------------------------------------------------------------------- Balance, December 31, 1996 25,000 953 700,813 34,028 (162,216) Contribution of capital by shareholder - - 85,099 - - Currency translation adjustment - - - 7,733 - Net income for the year ended December 31, 1997 - - - - 141,546 ---------------------------------------------------------------------------------------- Balance, December 31, 1997 25,000 $ 953 $ 785,912 $ 41,761 $ (20,670) ======================================================================================== The accompanying notes are an integral part of these financial statements. MOM...
