MINDSHAKER BALANCE SHEETS
EXHIBIT 7
For the Years Ending December 31
| 1999 | 2000 | 2001 | 2002 | 2003 | |
| ASSETS | |||||
| Current Assets | |||||
| Cash | - | 440,669 | 1,538,362 | 1,159,947 | 362,826 |
| Accounts Receivable | 177,932 | 836,164 | 1,198,919 | 1,503,613 | 1,808,306 |
| Inventory | 291,247 | 1,324,870 | 1,961,842 | 2,544,420 | 3,065,747 |
| Prepaid Expenses & Other | 63,700 | - | - | - | - |
| Total Current Assets | 532,878 | 2,601,703 | 4,699,123 | 5,207,979 | 5,236,880 |
| Fixed Assets | |||||
| Fixed Assets, Gross | 14,000 | 14,000 | 14,000 | 14,000 | 14,000 |
| Less: Accumulated Depreciation | 1,167 | 3,967 | 6,767 | 9,567 | 12,367 |
| Fixed Assets. Net | 12,833 | 10,033 | 7,233 | 4,433 | 1,633 |
| Other Assets | |||||
| Intangibles | 100 | 100 | 100 | 100 | 100 |
| Other | - | - | - | - | - |
| Total Other Assets | 100 | 100 | 100 | 100 | 100 |
| TOTAL ASSETS | 545,812 | 2,611,836 | 4,706,456 | 5,212,512 | 5,238,613 |
| LIABILITIES & STOCKHOLDERS' EQUITY | |||||
| Current Liabilities | |||||
| Current Maturities of LTD | - | - | 255,541 | 785,712 | 851,302 |
| Accounts Payable | 255,395 | 1,041,435 | 1,385,317 | 1,708,057 | 2,029,009 |
| Accrued Liabilities | - | - | - | - | - |
| Other | - | - | - | - | - |
| Total Current Liabilities | 255,395 | 1,041,435 | 1,640,857 | 2,493,768 | 2,880,310 |
| Other Noncurrent | - | - | - | - | - |
| Long-Term Debt | - | 798,820 | 1,637,013 | 851,302 | - |
| Total Liabilities | 255,395 | 1,840,255 | 3,277,870 | 3,345,070 | 2,880,310 |
| Stockholders' Equity | |||||
| Common Stock | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Paid in Capital in Excess of Par | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Private Equity Investment | 500,000 | 500,000 | 500,000 | 500,000 | 500,000 |
| Retained Earnings | (229,583) | 251,582 | 908,586 | 1,347,443 | 1,838,303 |
| Treasury Stock | - | - | - | - | - |
| Total Stockholders' Equity | 290,417 | 771,582 | 1,428,586 | 1,867,443 | 2,358,303 |
| TOTAL LIAB. & S/E | 545,812 | 2,611,836 | 4,706,456 | 5,212,512 | 5,238,613 |
| Mindshaker | ||
| Table of Contents | Appendices | |
|
1. Executive Summary 2. Market Analysis 3. Company Description 4. Marketing & Sales 5. Products & Services 6. Operations 7. Management 8. Financials |
Initial Programs Employees Industry Analysis Management Biographies Board CV Summaries Valuation Analysis Balance Sheets Income Statements Competitor Analysis | |
| All information herein is confidential and belongs to Mindshaker | ||