The following are the financial statements from the 3/99 10-QSB:
The consolidated financial statements included herein have been
subjected to a limited review by Roberts, Cherry and Company,
independent accountants for the Company, whose report is included
herein.
Consolidated Medical Management, Inc.
(A Montana Corporation)
Consolidated Balance Sheets
(Unaudited)
March 31, 1999 December 31,
1998
Assets
Current Assets
Cash $ 35,070 $ 25,540
Receivables , net 208,985 166,869
Prepaid Expenses 15,903 4,315
Notes Receivable 116,000 140,673
Total Current Assets 375,958 337,397
Property and Equipment, net 333,975 336,298
Other Assets 133,946 139,743
Total Assets $ 843,879 $ 813,438
Liabilities and Stockholders' Equity
(Deficit)
Current Liabilities
Notes Payable - Current Portion $ 87,507 $ 88,532
Capital Lease Obligation
Payable - Current Portion 86,266 83,406
Convertible Debentures and Notes
Payable - Current Portion 415,000 415,000
Accounts Payable 237,228 140,456
Accrued Expenses 31,289 138,101
Total Current Liabilities 857,290 865,495
Notes Payable - Long Term Portion 2,612 2,613
Capital Lease Obligation Payable
- Long-Term Portion 187,893 221,156
Total Long Term Liabilities 190,505 223,769
Total Liabilities 1,047,795 1,089,264
Stockholders' Equity
(Deficit)
Common Stock
$.001 par value, 50,000,000
shares authorized, 6,347,838
shares issued and outstanding
as of March 31, 1999 and
5,496,057 shares issued and
outstanding as of December 31,
1998 6,348 5,496
Additional Paid-in-Capital 1,937,499 1,854,173
Retained Earnings (Deficit) (2,147,763) (2,135,495)
Total Stockholders' Equity
(Deficit) (203,916) (275,826)
Total Liabilities and Stockholders'
Equity (Deficit) $843,879 $813,438
The accompanying notes and are an integral part of the consolidated financial
statements.
Consolidated Medical Management, Inc.
(A Montana Corporation)
Consolidated Statements of Operations (Unaudited)
Three Months ended March 31,
1999 1998
Revenues $308,376 $ -
Operating Expenses
Personnel Costs 53,245 -
Consulting 112,335 -
Depreciation and Amortization 3,964 -
Legal and Professional 87,634 -
Office Expense 47,963 2,821
Occupancy 8,752 -
Total Operating Expenses 313,893 2,821
Income (Loss) from Operations (5,517) (2,821)
Other Income (Expenses)
Other 9,069 -
Interest Expense (15,823) -
Interest Income 12 -
(6,742) -
Income (Loss) before Income Taxes (12,259) (2,821)
Income Tax Expense - -
Net Income (Loss) $(12,259) $(2,821)
Net Income (Loss) per Share $(0.0023) $(0.001)
The accompanying notes and are an integral part of the consolidated financial
statements.
Consolidated Medical Management, Inc.
Baton Rouge, Louisiana
Consolidated Statements of Cash Flows
(Unaudited)
For the Three Months ended
March 31, 1999 March 31, 1998
Cash Flows from Operating
Activities:
Net Income (Loss) ($ 12,259) ($ 2,481)
Adjustments to Reconcile Net
Income (Loss) to Net Cash
Provided by Operating
Activities:
Depreciation and Amortization 3,964
Non Cash Consulting and
Services Paid by Stock Issue 84,168
(Increase) Decrease in
Receivables (42,116)
(Increase) Decrease in Prepaid
Expenses (11,588)
(Increase) Decrease in Other
Assets 4,156
Increase (Decrease) in Accounts
Payable 96,773
Increase (Decrease) in Interest
Payable to Related Party 2,481
Increase (Decrease) in Accrued
Expenses (106,812)
Net Cash Provided (Used) by Operating
Activities 16,286 -
Cash Flows from Investing
Activities:
Payment on Notes Receivable 24,673
Net Cash Provided (Used) by
Investing Activities 24,673 -
Cash Flows from Financing
Activities:
Payments on Long-Term Debt (31,429)
Net Cash Provided (Used) by
Financing Activities (31,429) -
Net Increase (Decrease) in Cash 9,530 -
Cash, Beginning of period 25,540
Cash, end of period $35,070 $-
Supplemental Disclosure of Cash Flow
Information
Cash Paid During the Year for:
Interest $15,823 $-
Income Taxes $- $-
Supplemental Disclosure of Non-Cash
Financing Information
In the quarter ended March 31,
1999, the Company issued
common stock for consulting
services rendered totaling $84,168.
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