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Previous: SUNBEAM CORP/FL/, NT 11-K, 1999-06-29 |
Next: SENTO CORP, 10KSB, 1999-06-29 |
<PAGE>
:
:
IN THE MATTER OF :
:
ALLEGHENY POWER SYSTEM, INC. et al.:
: CERTIFICATE
File No. 70-8491 : PURSUANT TO RULE 24
: FOR THE YEAR ENDED
(Public Utility Holding : DECEMBER 31, 1998
Company Act of 1935) :
:
:
As of December 31, 1998, AYP Capital, Inc., through
Envirotech, had made investments and security transactions as
outlined on Exhibit A, attached hereto.
The Balance Sheet and Statement of Income for AYP
Capital for the year ended December 31, 1998 are also included
as a part of this filing.
AYP CAPITAL, INC.
By /s/ Richard J. Gagliardi
Richard J. Gagliardi
Vice President
Dated: June 29, 1998
<PAGE>
1) A description of the nature of each of the Envirotech Partnership's
investments and the cost thereof established pursuant to section 8.3 of the
partnership agreement:
<TABLE>
<CAPTION>
Company Investment Date Description Cost
<S> <C> <C> <C>
Active Power, Inc. May 1996 Flywheel energy storage systems for UPS applications $1,800,003
AutomationSolutions December 1996 Machine automation and control systems $2,036,986
International LLC
Cellit, Inc. November 23, 1998 Computer telephony software & hardware for the
call center industry $1,053,000
CopperCom, Inc. November 12, 1998 Equipment for voice capability over xDSL
infrastructures $ 859,999
Cycloid Company June 20, 1996 Designs, markets and manufactures a tire
inflation system $1,375,912
Inframetrics, Inc. September 30, 1996 Thermography systems and thermal imagers $1,063,979
(renamed FLIR Systems, Inc.)
Lightware, Inc. June 1997 Manufactures ultraportable LCD multimedia projectors $1,350,000
McHugh Software International,October 27, 1998 Warehouse and transportation management software
Inc. and services $2,359,229
NSA Engineering, Inc. July 1997 Underground engineering software and services $ 342,858
OK International, Inc. November 1996 Surface mount technology,solder/desolder tools and $1,785,999
industrial equipment
Progressive System January 1996 Automated handling equipment for semiconductor and $1,146,225
Technologies, Inc. flat panel industries
Valdor Fiber Optics, Inc. June 1997 Fiber optic connectors $ 574,974
</TABLE>
<PAGE>
AYP CAPITAL
CONSOLIDATED STATEMENT OF INCOME
<TABLE>
<CAPTION>
Quarter Ended Year-to-Date Ended Twelve Months Ended
December 31, 1998 December 31, 1998 December 31, 1998
<S> <C> <C> <C>
ELECTRIC OPERATING REVENUES 27,893,458 246,983,410 246,983,410
OPERATING EXPENSES:
Operation:
Fuel 5,980,311 21,136,727 21,136,727
Purchased Power & Exchange 15,143,708 210,558,867 210,558,867
Other 1,508,893 6,826,387 6,826,387
Transmission & Distribution 416,097 2,373,764 2,373,764
Cust. Accts & Services 590,661 2,814,919 2,814,919
Administrative & General 3,099,089 11,409,460 11,409,460
Total Operation & Maintenance 26,738,759 255,120,124 255,120,124
Depreciation 1,532,532 5,770,210 5,770,210
Taxes other than income taxes 1,651,918 6,881,568 6,881,568
Federal and state income taxes (1,612,474) (10,533,229) (10,533,229)
Total Operating Expenses 28,310,735 257,238,673 257,238,673
Operating Income (417,277) (10,255,263) (10,255,263)
OTHER INCOME AND DEDUCTIONS:
Other income (loss), net 25,678 99,240 99,240
Total Other Income and Deductions 25,678 99,240 99,240
Income Before Interest Charges and
Preferred Dividends (391,599) (10,156,023) (10,156,023)
INTEREST CHARGES AND PREFERRED DIVIDENDS:
Interest on other long-term obligations 2,526,933 10,105,333 10,105,333
Other interest 11,487 53,190 53,190
Total Interest Charges and
Preferred Dividends 2,538,420 10,158,524 10,158,524
Consolidated Net Income (Loss) (2,930,019) (20,314,546) (20,314,546)
Unaudited
</TABLE>
<PAGE>
AYP Capital, Inc.
CONSOLIDATED BALANCE SHEET
As of December 31, 1998
Assets
Property, plant, and equipment:
At original cost 170,797,904
Accumulated depreciation (11,321,961)
159,475,944
Investments and other assets 9,360,538
Current assets:
Cash and temporary cash investments 9,108,046
Accounts receivable:
Electric service 12,309,022
Other 2,397,551
Allowance for Uncollectible Accounts (81,748)
Affiliates 357,452
Materials and supplies--at average cost:
Operating and construction 2,316,277
Fuel 2,560,368
Other 3,221,829
32,188,796
Deferred charges 12,392,456
Total Assets 213,417,734
Capitalization and Liabilities
Capitalization:
Common stock 1,000
Other paid-in capital 53,672,747
Retained earnings (35,181,403)
18,492,344
Long-term debt of subsidiaries 160,000,000
178,492,344
Current liabilities:
Accounts payable 15,009,363
Accounts payable - Affiliates 2,502,490
Taxes accrued:
Federal and state income 6,866,031
Other 3,097,902
Interest accrued 1,675,467
Other 822,730
29,973,982
Deferred credits and other liabilities:
Deferred income taxes 4,150,289
Other 2,287,649
6,437,938
Total Capitalization and Liabilities 214,904,264
Unaudited
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