MatriDigm Corporation Balance Sheet
September 30, 1998 1997
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ASSETS
Current assets:
Cash and cash equivalents $ 704,885 $ 3,106,938
Restricted cash 68,606 608,606
Accounts receivable, net of
allowance for doubtful accounts of
$96,738 at September 30, 1998 1,134,223 79,050
Inventory 125,529 -
Prepaid expenses and
other current assets 126,913 21,898
Total current assets 2,160,156 3,816,492
Property and equipment, net 2,890,007 3,589,658
Technology rights, net 213,632 301,353
Deferred financing costs, net 200,000 -
Other assets 59,646 117,144
Total assets $ 5,523,441 $ 7,824,647
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LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable $ 578,107 $ 231,729
Accrued compensation and benefits 942,001 588,887
Accrued other liabilities 450,329 261,265
Deferred revenue to shareholder 434,392 -
Notes payable 3,005,666 -
Notes payable to shareholder 2,000,000 -
Current portion of long-term debt 579,865 452,094
Total current liabilities 7,990,360 1,533,975
Long-term debt 172,111 478,575
Subordinated convertible note
payable to shareholder 5,000,000 5,000,000
Total liabilities 13,162,471 7,012,550
Total shareholders'
(deficit) equity (7,639,030) 812,097
Total liabilities and
shareholders' (deficit) equity $ 5,523,441 $ 7,824,647
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