EX-99.2 3 tm2220715d1_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

 

TRI-STATE PAVING & SEALCOATING, LLC

Balance Sheets

 

   March 31,   March 31, 
   2022   2021 
Assets          
Current Assets          
Cash and cash equivalents  $1,336,933   $1,379,285 
Accounts Receivable-Trade   264,787    415,693 
Other Receivables   406,618    - 
Prepaid expenses and other   247,767    228,343 
Total Current Assets   2,256,105    2,023,321 
           
Property, Plant, and Equipment, at cost   7,500,537    7,165,572 
less Accumulated Depreciation   (3,719,110)   (3,437,420)
    3,781,427    3,728,152 
Total Assets  $6,037,532   $5,751,473 
           
           
           
Liabilities and Stockholders' Equity          
           
Current Liabilities          
Current Maturities of Long Term Debt  $318,679   $598,661 
Accounts Payable   250,334    171,201 
Accrued Expenses and other Current Liabilities   261,115    129,132 
Total Current Liabilities   830,128    898,994 
           
Long Term Debt, Non-current Portion   857,290    1,554,610 
           
Total Liabilities   1,687,418    2,453,604 
           
Stockholders' Equity          
Retained Earnings   4,350,114    3,297,869 
Total Stockholders' Equity   4,350,114    3,297,869 
           
Total Liabilities & Stockholders' Equity  $6,037,532   $5,751,473 

 

 

 

 

TRI-STATE PAVING & SEALCOATING, LLC

Statements of Income

 

   Three Months Ended   Three Months Ended 
   March 31,   March 31, 
   2022   2021 
Total Revenue  $1,458,479   $1,039,211 
           
Cost of Revenues   1,549,438    1,219,574 
           
Gross loss   (90,959)   (180,363)
           
Selling and administrative expenses   494,758    405,871 
           
Loss from operations   (585,717)   (586,234)
           
Other income (expense)          
Gain on sale of equipment   9,595    45,403 
           
Net loss  $(576,122)  $(540,832)