EXHIBIT C
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Pro-Forma
Balance Sheet |
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Ferventure Realty LLC |
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For 2008 to 2011 |
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(all numbers in $000) |
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ASSETS |
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2008 |
2009 |
2010 |
2011 |
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Current
Assets |
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Cash |
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$2 |
$7 |
$12 |
$18 |
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Net
accounts receivable |
$13 |
$13 |
$26 |
$39 |
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Inventory |
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$0 |
$0 |
$0 |
$0 |
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Temporary
investment |
$0 |
$0 |
$0 |
$0 |
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Prepaid
expenses |
$0 |
$0 |
$0 |
$0 |
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Total
Current Assets |
$15 |
$20 |
$38 |
$57 |
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Fixed
Assets |
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Long-term
investments |
$0 |
$0 |
$0 |
$0 |
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Land |
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$0 |
$0 |
$0 |
$0 |
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Buildings
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$80 |
$105 |
$165 |
$225 |
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Plant
& equipment (net) |
$0 |
$0 |
$0 |
$0 |
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Furniture
& fixtures (net) |
$0 |
$0 |
$0 |
$0 |
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Total
Net Fixed Assets |
$80 |
$105 |
$165 |
$225 |
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TOTAL
ASSETS |
$95 |
$125 |
$203 |
$282 |
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LIABILITIES |
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Current
Liabilities |
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Accounts
payable (taxes and insurance) |
$2 |
$2 |
$4 |
$7 |
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Short-term
notes |
$0 |
$0 |
$0 |
$0 |
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Current
portion of long-term notes |
$0 |
$0 |
$0 |
$0 |
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Accruals
& other Payables(credit) |
$6 |
$6 |
$12 |
$8 |
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Total
Current Liabilities |
$8 |
$8 |
$16 |
$15 |
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Long-term
Liabilities |
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Mortgage |
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$0 |
$0 |
$4 |
$6 |
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Other
long-term liabilities |
$0 |
$0 |
$0 |
$0 |
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Total
Long-term Liabilities |
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$4 |
$6 |
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SHAREHOLDERS'
EQUITY |
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Capital
stock |
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$0 |
$0 |
$0 |
$0 |
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Retained
earnings |
$87 |
$117 |
$183 |
$261 |
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Total
Shareholders' Equity |
$87 |
$117 |
$183 |
$261 |
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TOTAL
LIABILITIES & EQUITY |
$95 |
$125 |
$203 |
$282 |
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Financial Plan Pro Forma Income Statement