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Previous: WAVERIDER COMMUNICATIONS INC, 8-K/A, 2000-12-15 |
Next: WAVERIDER COMMUNICATIONS INC, 8-K/A, EX-99.2, 2000-12-15 |
EXHIBIT 99.1
WaveRider Communications Inc.
PROFORMA CONDENSED CONSOLIDATED BALANCE SHEET
AS AT SEPTEMBER 30, 2000
(UNAUDITED - in U.S. dollars)
<TABLE>
<CAPTION>
WaveRider ADE Network Proforma
Communications Technology Proforma Consolidated
Consolidated Pty Ltd Adjustments Sept 30, 2000
-------------- ------------ ------------ -------------
[Note 1 & 3]
<S> <C> <C> <C> <C>
ASSETS
Current
Cash and cash equivalents $ 8,875,736 $ 136,614 $ - $ 9,012,350
Cash held in trust 553,065 - - 553,065
Accounts receivable 2,137,734 293,857 - 2,431,591
Inventories 2,402,750 502,499 - 2,905,249
Future income tax benefit - 90,027 - 90,027
Prepaid and other expenses 210,281 15,355 - 225,636
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14,179,566 1,038,352 - 15,217,918
Fixed assets 1,606,854 271,537 - 1,878,391
Acquired core technologies 842,686 - - 842,686
Acquired labor force - - 425,000 425,000
Goodwill 2,854,409 - 1,764,917 4,619,326
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$ 19,483,515 $ 1,309,889 $ 2,189,917 $ 22,983,321
==================================================================
LIABILITIES
Current
Accounts payable and accrued liabilities $ 2,919,524 $ 833,783 $ 51,237 $ 3,804,544
Income taxes payable - 83,853 - 83,853
Deferred revenue 65,270 196,212 - 261,482
Consideration payable - - 2,087,982 2,087,982
Current portion of obligation
under capital lease 76,923 46,914 - 123,837
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3,061,717 1,160,762 2,139,219 6,361,698
Term loan - 75,631 - 75,631
Obligation under capital lease 23,490 115,627 - 139,117
Other long term liabilities - 8,567 - 8,567
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3,085,207 1,360,587 2,139,219 6,585,013
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SHAREHOLDERS' EQUITY
Common Stock 55,100 128,454 (128,454) 55,100
Additional paid in capital 45,966,840 - - 45,966,840
Other equity 11,693,509 - - 11,693,509
Deficit (41,317,141) (179,152) 179,152 (41,317,141)
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16,398,308 (50,698) 50,698 16,398,308
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$ 19,483,515 $ 1,309,889 $ 2,189,917 $ 22,983,321
==================================================================
</TABLE>
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