FINANCIAL INFORMATION FOR ISGI!
Ok, Hopeful this will be easier to read!
Total Assets are $80 MILLION--WOW!
-JJ-
ASSETS
------
June 30, 1996 (Unaudited)
CURRENT ASSETS:
Cash and cash equivalents $ 1,390,255
Cash - in trust 523,948
Accounts receivable, net 9,007,726 Subscriptions receivable 6,945,074
Advances to employees
and stockholders 252,352 Prepaid expenses and
other current assets 2,502,510
----------- -----------
Total current assets 20,621,865 -----------
FURNITURE AND EQUIPMENT, net of
accumulated depreciation of
$1,821,718 (unaudited) and
4,722,118
-----------
OTHER ASSETS:
Land and building held for
resale, net of accumulated
depreciation of $695,285
(unaudited) 3,513,386
Intangible assets, (primarily
goodwill) net of accumulated
amortization of $1,597,080
(unaudited) and $1,041,346,
respectively 51,434,825 Other 66,156
-----------
55,014,367
----------- Total assets $80,358,350 ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
June 30, 1996
--------------
(Unaudited)
CURRENT LIABILITIES:
Notes payable and current
portion of long-term debt $ 5,554,508
Accounts payable 8,280,219
Accrued expenses 633,218
Accrued litigation settlement 700,000
Due to stockholders 121,686
Credit arising from equity
transaction 1,500,000
------------
Total current liabilities 16,789,631
------------
LONG-TERM DEBT 3,180,930
------------
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
Common Stock, $.00001 par value,
100,000,000 shares authorized,
39,535,556 shares (unaudited)
and 18,273,128 shares issued,
respectively 395
Additional paid-in capital 10,311,126
Accumulated deficit (22,446,742)
Treasury stock at cost,
839,200 shares (740,000) ------------
60,387,789
------------
Total liabilities and
stockholders' equity $ 80,358,350
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