EX-99.7 6 ex99-7big3financials_unaudit.htm

Ex. 99.7


Big 3 Precision
Unaudited consolidated balance sheet
As of June 30, 2019


Assets
     
  Current Assets
     
   Cash and cash equivalents
 
$
2,636,418
 
   Accounts receivables
   
14,825,516
 
   Inventories
   
5,201,342
 
   Prepaid expenses and other assets
   
351,695
 
    Total current assets
   
23,014,971
 
         
Property, plant and equipment, net
   
13,283,669
 
Goodwill
   
10,142,204
 
Trademarks
   
853,097
 
Other intangible assets, net
   
2,929,123
 
Other assets
   
653,150
 
    Total assets
 
$
50,876,214
 
         
Liabilities and Stockholders' Equity
       
  Current Liabilities
       
   Accounts payable
 
$
5,914,492
 
   Other accrued expenses
   
1,385,134
 
   Deferred Income
   
901,469
 
   Current portion of long-term debt
   
11,663,152
 
    Total current liabilities
   
19,864,247
 
         
Deferred income taxes
   
2,525,015
 
Long-term debt
   
11,856,910
 
         
   Retained Earnings
   
16,630,042
 
         
    Total Liabilities and Stockholder' Equity
 
$
50,876,214
 
         



Big 3 Precision
Unaudited statement of income
For the period ended June 30, 2019

Net sales
 
$
36,393,999
 
         
Cost of products sold
   
(27,315,383
)
Gross margin
   
9,078,616
 
         
Selling and administrative expenses
   
(3,004,936
)
Operating profits
   
6,073,680
 
         
Interest expense
   
(712,505
)
Income before income taxes
   
5,361,175
 
         
Income Taxes
   
1,566,200
 
Net income
 
$
3,794,975