EXHIBIT 99-1
DERMA SCIENCES, INC.
BALANCE SHEETS June 30, 2000
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*
Actual Adjustments Proforma
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<S> <C> <C> <C>
Assets
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Current Assets
Cash and cash equivalents 870,511 500,000 1,370,511
Accounts Receivable, net 1,867,298 1,772,990
Inventories 1,299,750 1,327,789
Current portion of officer's note receivable 19,330 19,330
Prepaid expenses and other current assets 420,427 445,449
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Total Current Assets 4,477,316 500,000 4,936,069
Property and equipment, net 330,637 340,651
Long-term Assets
Goodwill and other intangibles, net 1,485,601 1,496,042
Officer's note receivable 76,034 76,034
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Total Assets 6,369,588 500,000 6,848,796
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Liabilities and Stokholder Equity
Current Liabilities
Accounts payable 1,038,258 1,139,980
Accrued expenses 413,496 431,443
Bank Line of credit 950,000 1,000,000
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Total Current Liabilities 2,401,754 - 2,571,423
Long-term Liabilities
Convertible Bonds 850,000 (375,000) 475,000
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Total Liabilities 3,251,754 (375,000) 3,046,423
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Stockholders Equity
Common Stock 14,092 6,667 20,759
Convertible Preferred Stock 14,809 3,750 18,559
Additional Paid-in Capital 11,416,947 864,583 12,281,530
Accumulated Deficit (8,328,014) (8,322,450)
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Total Stockholders Equity 3,117,834 875,000 3,998,398
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Total Liabilities and Stockholders' Equity 6,369,588 500,000 7,044,821
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Total Stockholders' Equity 3,117,834 3,998,398
Less: Net Goodwill at June 30, 2000 1,301,058 1,301,058
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Net Tangible Assets 1,816,776 2,697,340
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* Proforma adjustments reflect the purchase of 666,667 shares ($500,000) of common stock
at $0.75 per share and conversion of $375,000 in principal amount of convertible bonds.
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DERMA SCIENCES, INC.
SCHEDULE OF GOODWILL - NET
Balance Less Balance
Beginning Amortization Ending
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Balance as of:
31-Mar-00 $1,354,690 $ 26,816 $1,327,874
30-Jun-00 1,327,874 26,816 1,301,058
30-Sep-00 1,301,058 26,816 1,274,242
31-Dec-00 1,274,242 26,816 1,247,426
