Ryan, I didn't see the $10 million loan on the March 1998 balance sheet. Also, my investor's package indicates 30 million shares o/s, which is 17 million more than what was identified in last 10Q. I plan
to call PFCK to determine if this is new financing since March. Also, need to know if restricted.
LIABILITIES AND STOCKHOLDERS' EQUITY<TABLE><CAPTION>
March 31, December 31,
----------------------------
1998 1997
------------ ------------
<S> <C> <C>
CURRENT LIABILITIES
Accounts payable $ 145,675 $ 219,934
Other current liabilities 201,886 189,423
Lines of credit 46,905 50,585
Notes payable - current portion 919,650 1,147,871
Note payable to stockholder 18,486 23,869
----------- -----------
Total Current Liabilities 1,332,602 1,631,682
----------- -----------
LONG-TERM DEBT
Notes payable - long term 522,802 523,217
----------- -----------
Total Liabilities 1,855,404 2,154,899
----------- -----------
COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS' EQUITY
Preferred stock: 10,000,000 shares authorized at $0.01 par value; 672,300
and -0- shares issued and outstanding,
respectively 6,723 6,723
Common stock: 250,000,000 shares authorized
at $0.001 par value; 12,967,131 and
11,763,797 shares issued and outstanding,
respectively 12,967 11,764
Additional paid-in capital 12,521,736 2,335,379
Accumulated deficit (1,121,713) (852,055)
----------- -----------
Total Stockholders' Equity 11,419,713 1,501,811
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $13,275,117 $ 3,656,710
----------- -----------
----------- -----------
</TABLE> |
