Have not seen Paine or Wheat cross the board.....
Here is the firm's latest published financial information:
OK--here it is with fixed fonts.....
June 30, 1996 Sept. 30, 1995
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(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents $ 1,390,255 $ 672,651
Cash - in trust 523,948 458,192
Accounts receivable, net 9,007,726 150,726
Subscriptions receivable 6,945,074 --
Advances to employees
and stockholders 252,352 50,374
Prepaid expenses and
other current assets 2,502,510 87,090
----------- -----------
Total current assets 20,621,865 1,419,033
----------- -----------
FURNITURE AND EQUIPMENT, net of
accumulated depreciation of
$1,821,718 (unaudited) and
$323,988, respectively 4,722,118 976,002
----------- -----------
OTHER ASSETS:
Land and building held for
resale, net of accumulated
depreciation of $695,285
(unaudited) and $601,266,
respectively 3,513,386 3,602,405
Intangible assets, (primarily
goodwill) net of accumulated
amortization of $1,597,080
(unaudited) and $1,041,346,
respectively 51,434,825 1,081,695
Other 66,156 41,547
----------- -----------
55,014,367 4,725,647
----------- -----------
Total assets $80,358,350 $ 7,120,682
=========== ===========
See accompanying notes to financial statements.
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INTERNATIONAL STANDARDS GROUP, LIMITED
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CONSOLIDATED BALANCE SHEETS
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LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
June 30, 1996 Sept. 30, 1995
------------- --------------
(Unaudited)
CURRENT LIABILITIES:
Notes payable and current
portion of long-term debt $ 5,554,508 $ 1,546,325
Accounts payable 8,280,219 817,864
Accrued expenses 633,218 764,615
Accrued litigation settlement 700,000 --
Due to stockholders 121,686 600,940
Credit arising from equity
transaction 1,500,000 1,500,000
------------ ------------
Total current liabilities 16,789,631 5,229,744
------------ ------------
LONG-TERM DEBT 3,180,930 810,436
------------ ------------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $.00001 par
value, 10,000,000 shares
authorized, 2,223,001 shares
issued and outstanding 73,263,010 1,050,001
Common Stock, $.00001 par value,
100,000,000 shares authorized,
39,535,556 shares (unaudited)
and 18,273,128 shares issued,
respectively 395 183
Additional paid-in capital 10,311,126 18,866,595
Accumulated deficit (22,446,742) (18,096,277)
Treasury stock at cost,
839,200 shares (740,000) (740,000)
------------ ------------
60,387,789 1,080,502
------------ ------------
Total liabilities and
stockholders' equity $ 80,358,350 $ 7,120,682
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