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..................................
Statements of Operations. 5 Statements of Stockholders' Equity (Deficit).............. 6
Statements of Operations. FISCAL YEARS ENDED ---------------------------------------- DECEMBER 28, DECEMBER 29, DECEMBER 31, 1997 1996 1995 ------------ ------------ ------------ Revenues............................. $ 60,510,538 $ 59,112,073 $ 36,939,042 Costs and Expenses: Cost of products sold.............. 22,489,664 23,134,739 14,947,274 Salaries and benefits.............. 21,278,451 19,104,993 13,336,589 General and administrative......... 29,074,560 27,057,608 20,744,802 Provision for store closures....... 2,688,259 -- -- ------------ ------------ ------------ Total costs and expenses......... 75,530,934 69,297,340 49,028,665 ------------ ------------ ------------ Loss from Operations................. (15,020,396) (10,185,267) (12,089,623) Other Income (Expense): Interest expense................... (4,078,383) (3,316,089) (2,153,661) Other income....................... 1,103,195 832,541 123,094 ------------ ------------ ------------ Total other expense.............. (2,975,188) (2,483,548) (2,030,567) ------------ ------------ ------------ Net loss............................. $(17,995,584) $(12,668,815) $(14,120,190) ============ ============ ============ The accompanying notes to financial statements are an integral part of these statements. F-69 BCE WEST, L.P. STATEMENTS OF PARTNERS' DEFICIT FOR THE YEARS ENDED DECEMBER 28, 1997, DECEMBER 29, 1996 AND DECEMBER 31, 1995
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. FISCAL YEARS ENDED ---------------------------------------- DECEMBER 28, DECEMBER 29, DECEMBER 31, 1997 1996 1995 ------------ ------------ ------------ Revenue.............................. $106,134,723 $107,035,093 $ 86,669,428 Costs and Expenses: Cost of products sold.............. 39,348,673 40,768,771 34,011,946 Salaries and benefits.............. 32,326,764 33,052,468 29,121,730 General and administrative......... 53,833,793 48,429,552 41,702,902 Provision for store closures...
Statements of Operations. 38 Statement of Stockholders' Equity........................... 39 Statements of Cash Flows.................................... 40 Notes to Financial Statements............................... 41 REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS The Board of Directors and Stockholders Sangamo BioSciences, Inc. We have audited the accompanying balance sheets of Sangamo BioSciences, Inc. as of December 31, 2000 and 1999, and the related statements of operations, stockholders' equity, and cash flows for each of the three years in the period ended December 31, 2000. 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 auditing standards generally accepted in the United States. 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 Sangamo BioSciences, Inc. at December 31, 2000 and 1999, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2000, in conformity with accounting principles generally accepted in the United States. Palo Alto, California January 26, 2001 SANGAMO BIOSCIENCES, INC. BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) ------------------- ASSETS 2000 -------- 1999 -------- Current assets: Cash and cash equivalents................................. $ 10,151 $ 251 Prepaid expenses.......................................... Total current assets.................................... 325 -------- 66,512 171 ------ 8,236 Property and equipment, net................................. 1,982 612 Other assets................................................ Total assets............................................ LIABILITIES AND STOCKHOLDERS' EQUITY 431 -------- $ 68,925 ======== 314 ------ $9,162 ====== Current liabilities: A...
Statements of Operations. For the Three and Nine Months Ended September 30, 2000 and 1999 (Unaudited) THREE MONTHS ENDED NINE MONTHS ENDED September 30, September 30 September 30, September 30, 2000 1999 2000 1999 -------------- ------------- -------------- ------------- REVENUE: Distribution income $10,000 -- $138,391 $189,235 Investment $19,891 $14,335 $81,869 $46,347 Other $225 $775 $1,425 $1,550 -------------- ------------- -------------- ------------- Total Revenue $30,116 $15,110 $221,685 $237,132 -------------- ------------- -------------- ------------- EXPENSES: General and administrative $30,962 $20,465 $105,616 $83,845 Management fees -- -- -- $18,924 (related party) Total Expenses $30,962 $20,465 $105,616 $102,769 -------------- ------------- -------------- ------------- Income (Loss) before equity in income of Local Limited Partnership ($846) ($5,355) $116,069 $134,363 Equity in income of Local Limited Partnership $45,891 -- $9,008 -- -------------- ------------- -------------- ------------- Net Income (Loss $45,045 $(5,355) $125,077 $134,363 ============== ============= ============== ============= Net Income (Loss) allocated: To General Partners $417 $(268) $5,894 $6,718 To Limited Partners $44,628 ($5,087) $119,183 $127,645 -------------- ------------- -------------- ------------- $45,045 $(5,355) $125,077 $134,363 ============== ============= ============== ============= Net Income (Loss) per Limited Partnership Unit (21,915 Units) $2.04 $(0.23) $5.44 $5.82 ============== ============= ============== =============
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...
