Currently trading around 4X book value
Book Value $.31 (2,828,228 / 9,206,235)
J-Bird Music Group LTD.
Balance Sheet
December 31, 1997
Assets
Inventory $ 53,766
Accounts receiveable 10,095
Loan receivable, shareholder 35,000
Recording advances 21,665
Note receivable 500,000
Total current assets 620,526
Fixed assets, net 153,475
Cost in excess of net assts acquired 10,095
Accumulated amortization (32,664)
2,173,644
Note receivable 350,000
Other assets 30,279
Total assets $3,327,924
Liablilities and Stockholder's Equity
Account payable and accrued expenses $ 378,816
Note payable 90,000
Total current liabilities 468,816
Due to shareholders and officers 30,880
Total liabilities 499,696
Total current liabilities 468,816
Stockholders' Equity
Common stock $.001 par value
25,000,000 shares authorized, 9,206,235 issued and outstanding 9,206
Paid in capital 6,478,143
Deficit (3,659,121)
2,828,228
Total Liabilities and Equity $3,327,924 |
