Reverse merged a while back into SMEV
NAME/SYMBOL CHANGES
DL Date Date Old Symbol/Name New Symbol/Name
1/15/2008 1/16/2008 FAVE 5th Avenue Channel Corporation Common Stock SMEV Simulated Environment Concepts Inc Common Stock
Simulated Environment Concepts, Inc.
20229 NE 15th Court
Miami, Florida 33179
Unaudited Financial Statements and Related Footnotes
Dated: September 30, 2007
These statements have been internally prepared by the issuer’s officers and we certify
that such all statements and the notes thereto, present fairly, in all material respects, the
financial position of the issuer and the results of its operations for the periods presented,
in conformity with accounting principles generally accepted in the United States,
consistently applied.
By: /s/ Ella Frenkel President
Simulated Environment Concepts, Inc.
Balance Sheet
September 30, 2007
ASSETS
Current Assets
Cash and Cash Equivalents $ 41,092
Inventory 155,480
Account Receivables 6,500
Total Current Assets 203,075
Property, Plant & Equipment
Property and Equipment 140,112
Accumulated Depreciation (78,630)
Total Property, Plant & Equipment 61,482
Other Assets
Patents 120,000
Website 45,000
Less Amortization (15,248)
Total Other Assets 149,752
Total Assets $ 414,309
LIABILITIES & STOCKHOLDERS EQUITY
Current Liabilities
Accounts Payable $ 90,329
Total Current Liabilities 90,329
Long-term Liabilities
Bank Credit Line 21,201
Loan Ilya Spivak 20,900
Loan Kin Management 29,900
Loan Helios USA 15,000
Note Payable to Shareholder 210,089
Total Long-term Liabilities 297,090
Total Liabilities 387,419
Stockholders Equity
Common Stock 1,000 authorized, 1,000 issued & outstanding 1,000
Additional Paid in Capital 49,000
Retained Earnings
Beginning (132,677)
Net Income (Loss) 55,787
Ending Retained Earnings (76,890)
Total Stockholders Equity (26,890)
Total Liabilities & Stockholders Equity $ 414,309 |
