I found by looking at the balance sheet in order it helped
give me a better picture as to what has been done the past few years.
As you look at the balance sheets, look at cash, inventory and fixed assets. You will note some significant changes.
Must be beautiful furniture...
Clicking on the links is very helpful.
sec.gov
sec.gov
BOARD OF DIRECTORS
AMAZON NATURAL TREASURES, INC.
LAS VEGAS, NEVADA
We have compiled the accompanying balance sheet of AMAZON NATURAL TREASURES,
INC.
as of June 30, 1997, and the related statement of income and retained earnings
(deficit) for the three months and six months then ended, and the accompanying
supporting schedules which are presented only for supplementary analysis
purposes, in accordance with Statements on Standards for Accounting and Review
Services issued by the American Institute of Certified Public Accountants.
A compilation is limited to presenting in the form of financial statements and
supporting schedules information that is the representation of management. We
have not audited or reviewed the accompanying financial statements and,
accordingly, do not express an opinion or any other form of assurance on them.
Management has elected to omit substantially all of the disclosures and the
statement of cash flows required by generally accepted accounting principles. If
the omitted disclosures and the statement of cash flows were included in the
financial statements, they might influence the user's conclusions about the
company's financial position, results of operations, and cash flows.
Additionally, in accordance with generally accepted accounting principles,
income taxes are an expense of business enterprises earning income subject to
tax. Management has elected to omit a provision for federal income tax expense,
and has informed us that the effects of this position and results of operations
have not been determine. Accordingly, these financial statements are not
designed for those who are not informed about such matters.
LAS VEGAS, NEVADA
August 13, 1997
<PAGE>
AMAZON NATURAL TREASURES, INC.
BALANCE SHEET
JUNE 30, 1997
ASSETS
CURRENT ASSETS
Cash in bank $ 111,322
Petty cash 1,000
Inventory-bottles/bagged 101,140
Inventory-birds 10,507
Prepaid insurance 7,765
231,734
PROPERTY AND EQUIPMENT-AT COST
Office furniture and equipment 15,450
Clean room & equipment 93,140
Laboratory equipment 21,540
Computer equipment 218
Automobiles 7,590
137,938
Less: accumulated depreciation (33,890)
104,048
OTHER ASSETS
Construction in process 73,472
Refundable deposits 42,885
Organization costs-net 13,806
Prepaid logos, trademarks, etc. 25,000
Licenses 5,000
160,163
TOTAL ASSETS $ 495,945
sec.gov
BALANCE SHEET
SEPTEMBER 30, 1997
<TABLE>
<CAPTION>
ASSETS
<S> <C>
CURRENT ASSETS
Cash in bank $ 161,688
Petty cash 2,000
Employee advances 2,475
Inventory-bottles/bagged 216,535
Inventory-raw material 21,146
Inventory-birds 33,323
Prepaid insurance 5,838
443,005
PROPERTY AND EQUIPMENT-AT COST
Office furniture and equipment 87,415
Clean room & equipment 187,493
Laboratory equipment 36,262
Warehouse equipment 115,562
Computer equipment 24,586
Automobiles 7,590
458,908
Less: accumulated depreciation (70,333)
388,575
OTHER ASSETS
Construction in process 151,741
Refundable deposits 57,885
Organization costs-net 45,863
Prepaid logos, trademarks, etc. 125,000
Licenses 5,000
385,489
TOTAL ASSETS $1,217,069
sec.gov
sec.gov
AMAZON NATURAL TREASURES, INC.
Balance Sheet
March 31, 1998
ASSETS
<TABLE>
<S> <C> <C>
Current Assets
CASH IN BANK $ 955.15
CANADIAN BANK ACCOUNT 100.00
PETTY CASH 400.00
CASH IN BANK (32,866.78)
-BOTTLED/BAGGED 285,228.66
-RAW MATERIALS 40,290.47
-BIRDS 32,760.50
NOTES RECEIVABLE 60,943.41
PREPAID INSURANCE 10,413.66
-----------
Total Current Assets 398,225.07
Property and Equipment
OFFICE FURNITURE AND EQUIPMENT 98,067.64
ACCUM. DEP. FURNITURE/FIXTURE (6,721.83)
LABORATORY EQUIPMENT 40,454.06
ACCUM. DEP. LABORATORY EQUIP. (13,636.41)
CLEAN ROOM EQUIPMENT 193,593.10
ACCUM. DEP. CLEAN ROOM EQUIP. (34,104.59)
WAREHOUSE EQUIPMENT 121,599.65
ACCUM. DEP. WAREHOUSE EQUIP. (12,372.50)
COMPUTER EQUIPMENT 28,721.06
ACCUM. DEP. COMPUTER EQUIP. (2,485.67)
AUTOMOBILES 7,589.73
ACCUM. DEP. AUTOMOBILES (1,012.00)
PORTABLE CLEAN ROOMS 155,585.64
LOGOS, TRADEMARKS, ETC. 125,000.00
-----------
Total Property and Equipment 700,277.88
Other Assets
EMPLOYEE ADVANCES 1,305.72
WORK IN PROGRESS 8,308.71
LICENSES & TRADEMARKS 5,000.00
REFUNDABLE DEPOSITS 57,324.25
OTHER ORGANIZATIONAL COSTS 66,522.71
ACC. AMORT-ORGANIZATIONAL CO (20,659.67)
SUSPENSE 55,514.79
-----------
Total Other Assets 173,316.51
-------------
Total Assets $1,271,819.46
sec.gov =============
AMAZON NATURAL TREASURES, INC.
(A Development Stage Company)
Balance Sheets
December 31, 1997 and 1996
[CAPTION]
<TABLE>
1997 1996
------------ ------------
<S> <C> <C>
ASSETS
Current Assets:
Cash $ 132,755 $ 1,390
Related Party Receivables (Note 3) 64,768 0
Stock Subscription Receivable 0 2,000
Inventories (Note 9) 388,214 38,149
Prepaid Expenses 13,414 0
-------- -------
Total Current Assets 599,151 41,539
Fixed Assets:
Net of Depreciation (Note 7) 480,049 46,960
------- ------
Other Assets:
Licenses and Trademarks (Net - Note 12) 128,000 5,000
Refundable Deposits 63,209 5,670
Organization Costs (Net - Note 12) 41,646 7,024
------- -------
Total Other Assets 232,855 17,694
------- -------
TOTAL ASSETS $1,312,055 $106,193
========== =========
sec.gov
AMAZON NATURAL TREASURES, INC.
BALANCE SHEET (UNAUDITED)
SEPTEMBER 30, 1998
<CAPTION>
SEPTEMBER 30, 1998
<S> <C>
ASSETS
CURRENT ASSETS
CASH IN BANK $ 70,899
CANADIAN BANK ACCOUNT 2,100
PETTY CASH (500)
CASH IN BANK (15,443)
CHECKING-US SAVINGS BANK (11,472)
ACCOUNTS RECEIVABLE (123)
STOCK SUBSCRIPTION RECEIVABLE (2,000)
INVENTORY (5,282)
BOTTLED/BAGGED 104,058
RAW MATERIALS 231,724
BIRDS 49,061
WORK IN PROGRESS 29,997
GEMS (21,124)
INTERCOMPANY TRANSFERS 40
PREPAID INSURANCE 10,414
-------
TOTAL CURRENT ASSETS $442,348
PROPERTY AND EQUIPMENT
OFFICE FURNITURE AND EQUIPMENT $ 87,426
ACCUM. DEP.-FURNITURE/FIXTURES (9,779)
LABORATORY EQUIPMENT 38,716
ACCUM. DEP.-LABORATORY EQUIPMENT (14,764)
CLEAN ROOM EQUIPMENT 252,085
ACCUM. DEP.-CLEAN ROOM EQUIP. (34,261)
WAREHOUSE EQUIPMENT 102,312
ACCUM. DEP.-WAREHOUSE EQUIP. (13,121)
COMPUTER EQUIPMENT 94,203
ACCUM. DEP. COMPUTER EQUIP (3,991)
AUTOMOBILES 29,061
ACCUM. DEP AUTOMOBILES (2,052)
PORTABLE CLEAN ROOMS 129,612
LOGOS, TRADEMARKS, ETC. 125,000
-------
TOTAL PROPERTY AND EQUIPMENT $780,447
OTHER ASSETS
EMPLOYEE ADVANCES 1,206
RELATED PARTY RECEIVABLES 62,443
INVENTORY OVERHEAD APPLIED 69,354
WORK IN PROGRESS 37,082
LICENSES & TRADEMARKS 5,000
ACCUM. AMORT. - LICENSES (2,000)
REFUNDABLE DEPOSITS 185,423
OTHER ORGANIZATIONAL COSTS 58,855
ACC. AMORT.-ORGANIZATIONAL COSTS (17,209)
SUSPENSE 13,911
-------
TOTAL OTHER ASSETS $414,066
TOTAL ASSETS $1,636,860
----------
sec.gov
AMAZON NATURAL TREASURES, INC.
BALANCE SHEET (UNAUDITED)
JUNE 30, 1998
<CAPTION>
JUNE 30, 1998
<S> <C>
ASSETS
CURRENT ASSETS
CASH IN BANK $ 236
CANADIAN BANK ACCOUNT 100
PETTY CASH (500)
CASH IN BANK 23,901
CHECKING-US SAVINGS BANK 0
MONEY MARKET-US SAVINGS BANK 0
ACCOUNTS RECEIVABLE (846)
INVENTORY 213
BOTTLED/BAGGED 102,724
RAW MATERIALS 197,009
BIRDS 39,061
WORK IN PROGRESS 20,618
GEMS (21,124)
PREPAID INSURANCE 10,414
-------
TOTAL CURRENT ASSETS $371,804
PROPERTY AND EQUIPMENT
OFFICE FURNITURE AND EQUIPMENT $ 84,465
ACCUM. DEP.-FURNITURE/FIXTURES (9,779)
LABORATORY EQUIPMENT 38,416
ACCUM. DEP.-LABORATORY EQUIPMENT (14,764)
CLEAN ROOM EQUIPMENT 251,906
ACCUM. DEP.-CLEAN ROOM EQUIP. (34,261)
WAREHOUSE EQUIPMENT 101,860
ACCUM. DEP.-WAREHOUSE EQUIP. (13,121)
COMPUTER EQUIPMENT 36,202
ACCUM. DEP. COMPUTER EQUIP (3,991)
AUTOMOBILES 17,590
ACCUM. DEP AUTOMOBILES (2,052)
PORTABLE CLEAN ROOMS 129,612
LOGOS, TRADEMARKS, ETC. 125,000
-------
TOTAL PROPERTY AND EQUIPMENT $707,083
OTHER ASSETS
EMPLOYEE ADVANCES 1,206
RELATED PARTY RECEIVABLES 62,443
INVENTORY OVERHEAD APPLIED 69,354
WORK IN PROGRESS 19,240
LICENSES & TRADEMARKS 5,000
ACCUM. AMORT. - LICENSES (2,000)
REFUNDABLE DEPOSITS 144,874
OTHER ORGANIZATIONAL COSTS 58,855
ACC. AMORT.-ORGANIZATIONAL COSTS (17,209)
SUSPENSE 402
-------
TOTAL OTHER ASSETS $342,166
TOTAL ASSETS $1,421,053
----------
----------
sec.gov
sec.gov
AMAZON NATURAL TREASURES, INC.
BALANCE SHEETS
MARCH 31, 1999 AND DECEMBER 31, 1998
(Unaudited)
ASSETS
<S> <C> <C>
March 31, December 31,
1999 1998
----------- -----------
CURRENT ASSETS:
Cash $ 32,969 $ 2,161
Accounts receivable 8,146 6,017
Inventories 464,586 444,983
Prepaid expenses 6,408 1,345
Total Current Assets 512,109 454,506
----------- -----------
PROPERTY AND EQUIPMENT, NET 613,634 560,210
----------- -----------
OTHER ASSETS
Deposits 23,731 23,731
Organization costs 41,646 41,646
Licenses and trademarks 128,000 128,000
----------- -----------
Total Other Assets 193,377 193,377
----------- -----------
TOTAL ASSETS $ 1,319,120 $ 1,208,093
=========== ===========
sec.gov
AMAZON NATURAL TREASURES, INC.
BALANCE SHEETS
JUNE 30, 1999 AND DECEMBER 31, 1998
(Unaudited)
ASSETS
<S> <C> <C>
June 30, December 31,
1999 1998
------------ ------------
CURRENT ASSETS:
Cash $ 8,058 $ 2,161
Accounts receivable 7,036 6,017
Inventories 471,764 444,983
Prepaid expenses 6,408 1,345
------------ ------------
Total Current Assets 493,266 454,506
------------ ------------
PROPERTY AND EQUIPMENT, NET 624,959 560,210
------------ ------------
OTHER ASSETS
Deposits 23,731 23,731
Organization costs 41,646 41,646
Licenses and trademarks 128,000 128,000
------------ ------------
Total Other Assets 193,377 193,377
------------ ------------
TOTAL ASSETS $ 1,311,602 $ 1,208,093
============ ============
sec.gov
Albright, Persing & Associates, Ltd.
Certified Public Accountants
Independent Auditor's Report
To the Board of Directors and
Stockholders of Amazon Natural
Treasures, Inc.
We have audited the balance sheet of Amazon Natural Treasures, Inc. as of
December 31, 1998, and the related statements of comprehensive income,
stockholder's equity, and cash flows for the year then ended. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based
on our audit. The financial statements of Amazon Natural Treasures, Inc. as
of December 31, 1997, were audited by other auditors whose report dated July
17, 1998 expressed an unqualified opinion with a going concern uncertainty on
those statements.
We did not observe the physical inventory in 1998 stated in the accompanying
financial statements at $444,983. The Company's records do not permit the
application of other auditing procedures to inventories. In addition, the
Company does not maintain certain customary accounting records and supporting
documents relating to transactions with suppliers and customers, nor, in our
opinion, is the system of internal control adequate to provide safeguards of
assets and to assure proper recording of transactions. Accordingly, it was
impracticable to extend our procedures sufficiently to determine the extent
to which the financial statements may have been affected by these conditions.
Since inventory at December 31, 1998 enters significantly into the
determination of financial position, results of operations, and cash flows,
and since the Company does not maintain certain customary accounting records
or documents, or an adequate system of internal control, as described in the
preceding paragraph, the scope of our work was not sufficient to enable us to
express an opinion, and we do not express an opinion on the financial
statements referred to above.
As discussed in Note 3, the Company has numerous related party transactions
and is dependent upon a related party supplier for its phytogenics products.
In addition, as discussed in Note 1, the Company is dependent on its ability
to continue to operate within United States Government guidelines for
nutritional supplements
The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 5, the
Company had been in the development stage in years prior to 1998, and the
Company's ability to generate sufficient cash flows to meet its obligations
and sustain its operations, either through future revenues and/or additional
debt or equity financing, cannot be determined at this time. Further, the
Company has sustained losses of $13,645,482 since its inception on June 27,
1995 and has experienced cash flow problems. These uncertainties raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans in regard to these matters are also discussed in Note 5.
The financial statements do not include any adjustments that might arise from
the outcome of this uncertainty.
/s/ Albright, Persing & Associates, Ltd.
Reno, Nevada
August 19, 1999
<PAGE>
<TABLE>
<CAPTION>
AMAZON NATURAL TREASURES, INC.
BALANCE SHEETS
DECEMBER 31, 1998 AND 1997
ASSETS
1998 1997
----------- -----------
<S> <C> <C>
Current Assets
Cash $ 2,161 $ 132,755
Related party receivables - 64,768
Trade receivables 6,017 -
Inventories 444,983 388,214
Prepaid expenses 1,345 13,414
----------- -----------
Total Current Assets 454,506 599,151
----------- -----------
Fixed Assets, net of
accumulated depreciation 560,210 480,049
----------- -----------
Other Assets
Licenses and trademarks 128,000 128,000
Refundable deposits 23,731 63,209
Organization Costs 41,646 41,646
----------- -----------
Total Other Assets 193,377 232,855
----------- -----------
Total Assets $ 1,208,093 $ 1,312,055
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
AFFIDAVIT NOTE STATEMENT ABOUT ASSETS AND REVIEW ABOVE BALANCE SHEETS...
Message 11167327
Executive Level Management would normally view the increase in
inventory in 1998 to be a bad idea when one has little cash.
But how did the licensee and Trademark Valuations increase
so much over the past 3 years? How is that determined.
Granted it is a soft asset. |
