December 31, June 30,
--------------------------- 1999
1998 1997 (Unaudited)
---- ---- -----------
Current Assets:
Cash $ 17,350 $ 4,691 $ 266,128
Marketable Securities - - 501,530
Accounts receivable 54,298 59,128 23,286
Inventory 53,036 8,991 73,652
Prepaid expenses - 3,696 44,564
----------- --------- -----------
Total Current Assets 124,684 76,506 909,160
Property and equipment - net 270,350 362,528 395,643
Other assets 7,130 9,684 5,853
----------- --------- -----------
TOTAL ASSETS $ 402,164 $ 448,718 $ 1,310,656
=========== ========= ===========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
-------------------------------------------------
Current Liabilities:
Short-term debt $ 108,000 $ 136,000 $ 348,000
Current portion of long-term debt 67,823 187,105 77,671
Current maturities of capitalized
lease obligations 137,123 137,123 141,168
Accounts payable 48,164 99,884 71,157
Accrued expenses 213,017 127,716 170,241
----------- --------- -----------
Total Current Liabilities 574,127 687,828 808,237
Long term Capital Lease obligations -- -- 45,298
Long term debt 95,248 -- 67,228
Note payable to officer 232,792 194,500 232,792
----------- --------- -----------
Total Liabilities 902,167 882,328 1,153,555
----------- --------- -----------
Stockholders' Equity (Deficiency):
Preferred stock, par value $.001 per
share - authorized 1,000,000 shares;
none issued -- -- --
Common stock, par value $.001 per
share - authorized 150,000,000 and 50,000,000 shares;
for the period ending June 30, 1999 and December 31, 1998
and 1997 respectively outstanding 38,049,122, 22,562,279
and 15,321,898 shares 22,563 15,322 38,050
Paid-in-capital 576,601 399,368 1,503,871
(Deficit) (1,099,167) (848,300) (1,379,343)
Cumulative other comprehensive (loss) -- -- (5,477)
----------- --------- -----------
Total Stockholders' Equity
(Deficiency) (500,003) (433,610) 157,101
----------- --------- -----------
TOTAL LIABILITIES AND STOCK-
HOLDERS' EQUITY (DEFICIENCY) $ 402,164 $ 448,718 $ 1,310,656
=========== ========= ===========
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