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Previous: ADVANCED AERODYNAMICS & STRUCTURES INC/, 8-K, 2000-07-14 |
Next: APPALACHIAN BANCSHARES INC, 11-K, 2000-07-14 |
<PAGE>
EXHIBIT 99
ADVANCED AERODYNAMICS & STRUCTURES, INC.
(A DEVELOPMENT STAGE ENTERPRISES)
BALANCE SHEET
<TABLE>
<CAPTION>
May 31, 2000 June 30, 2000 June 30, 2000
YTD Pro-forma Entries YTD (Pro-forma)
ASSETS
<S> <C> <C> <C>
Current Assets:
Cash and cash equivalents $ 406,334 $ (100,507) $ 305,827
Short term investments 2,325,722 (475,831) 1,849,891
Investment Receivable - 2,275,000 2,275,000
Prepaid expenses and other current assets 280,692 4,324 285,017
------------- ----------- ------------
Total current assets $ 3,012,748 $ 1,702,986 $ 4,715,734
Property, Plant and equipment, net 12,427,481 215,373 12,642,854
Other assets 194,815 -- 194,815
------------- ----------- ------------
Total assets $ 15,635,045 $ 1,918,359 $17,553,403
============= =========== ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $ 72,175 $ 184,295 $ 256,471
Capital lease obligation current portion 243,961 -- 243,961
Other accrued liabilities 672,761 28,646 701,407
------------- ----------- ------------
Total current liabilities $ 988,897 $ 212,941 $ 1,201,838
Capital lease obligation, long term $ 9,546,389 $ (35,691) $ 9,510,698
Deferred revenue 1,781,456 8,871 1,790,327
------------- ----------- ------------
Stockholders' equity
Preferred Stock, par value $ .0001 per share; 5,000,000
shares authorized; no shares issued and outstanding
Class A common, par value $ .0001 per share; 60,000,000 shares $ 690 $ -- $ 690
authorized ; 6,999,676 shares issued and outstanding
Class B Common Stock, par value $ .0001 per share; 10,000,000
shares authorized; 1,900,324 shares issued and outstanding
Class E-1 Common Stock; par value $ .0001 per share; 4,000,000
shares authorized; 4,000,000 shares issued and outstanding
Class E-2 Common Stock; par value $ .0001 per share; 4,000,000
shares authorized; 4,000,000 shares issued and outstanding
Preferred Stock $ 5,000,000 $ 2,500,000 $ 7,500,000
Warrants to purchase common stock
Public Warrants $ 473,000 $ -- $ 473,000
Class A Warrants 11,290,230 -- 11,290,230
Class B Warrants 4,632,184 -- 4,632,184
Additional paid-in-capital 35,201,825 (225,000) 34,976,825
Accumulated other comprehensive income (loss) (16,388) 16,250 (138)
Deficit accumulated during the development stage $ (53,263,238) $ (559,012) $(53,822,250)
------------- ----------- ------------
Total stockholders' equity $ 3,318,302 $ 1,732,238 $ 5,050,540
------------- ----------- ------------
Total Liabilities and Stockholders' Equity $ 15,635,045 $ 1,918,359 $ 17,553,403
============= =========== ============
</TABLE>
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