ADVANCED MATERIALS GROUP, INC.
CONSOLIDATED BALANCE SHEETS
FEBRUARY 27, 2000 AND NOVEMBER 30, 1999
2000 1999
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(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents................................. $ 625,000 $ 496,000
Accounts receivable, net.................................. 6,525,000 7,238,000
Inventories, net.......................................... 4,053,000 3,857,000
Income tax receivable..................................... 261,000 261,000
Deferred income taxes..................................... 337,000 337,000
Prepaid expenses and other................................ 108,000 172,000
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Total current assets.................................... 11,909,000 12,361,000
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Property and equipment, net................................. 2,507,000 2,507,000
Goodwill, net............................................... 499,000 514,000
Deferred income taxes....................................... 473,000 473,000
Other assets................................................ 184,000 237,000
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Total assets............................................ $15,572,000 $16,092,000
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable.......................................... $ 4,207,000 $ 4,448,000
Income taxes payable...................................... 308,000 308,000
Accrued liabilities....................................... 840,000 1,130,000
Discontinued operations................................... 642,000 677,000
Deferred income........................................... 302,000 337,000
Line of credit............................................ 130,000 --
Current portion of long-term obligations.................. 298,000 282,000
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Total current liabilities............................... 6,727,000 7,182,000
Line of credit............................................ 3,482,000 3,823,000
Term loan................................................. 360,000 396,000
Convertible debentures.................................... 405,000 405,000
Deferred compensation..................................... 1,086,000 1,056,000
Other..................................................... 238,000 243,000
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Total liabilities....................................... 12,298,000 13,105,000
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Stockholders' equity:
Preferred stock-$.001 par value; 5,000,000 shares
authorized; no shares issued and outstanding............ -- --
Common stock-$.001 par value; 25,000,000 shares
authorized; 8,551,555 and 8,519,055 shares issued and
outstanding at February 27, 2000 and November 30, 1999,
respectively............................................ 9,000 9,000
Additional paid-in capital................................ 7,024,000 6,987,000
Accumulated deficit....................................... (3,759,000) (4,009,000)
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Total stockholders' equity.............................. 3,274,000 2,987,000
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Total liabilities and stockholders' equity................ $15,572,000 $16,092,000
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