EX-99 7 c9901203.txt CERBCO, INC. CONSOLIDATING SCHEDULES FOR THE PERIOD ENDED 12/31/03 Exhibit 99 CERBCO, Inc. CONSOLIDATING SCHEDULE - STATEMENT OF OPERATIONS INFORMATION THREE MONTHS ENDED DECEMBER 31, 2003 (unaudited)
CERBCO, Inc. CERBCO, Inc. INEI Consolidated Eliminations Unconsolidated Corporation Sales $ - (A) $ (109,619) $ - $ 109,619 ---------- ----------- -------- ------------ Costs and Expenses: Cost of sales - (A) (242,899) - 242,899 Selling, general and administrative expenses 164,303 (A) (941,836) 164,303 941,836 ---------- ----------- -------- ------------ Total Costs and Expenses 164,303 (1,184,735) 164,303 1,184,735 ---------- ----------- -------- ------------ Operating Loss (164,303) 1,075,116 (164,303) (1,075,116) Gain on Sale of Property and Equipment - Net - (A) (693,977) - 693,977 Investment Income 36,908 - 36,908 - Interest Expense - - - - Other Income - Net 169,330 (A) (148,878) 169,330 148,878 ---------- ----------- -------- ------------ Earnings (Loss) Before Income Taxes 41,935 232,261 41,935 (232,261) Provision (Credit) for Income Taxes - - - - ---------- ----------- -------- ------------ Earnings (Loss) from Continuing Operations 41,935 232,261 41,935 (232,261) Loss from Discontinued Operations - Net (90,899) (A) (90,899) - - ---------- ----------- -------- ------------ NET EARNINGS (LOSS) $ (48,964) (B) $ 141,362 $ 41,935 $ (232,261) ========== =========== ======== ============
Exhibit 99 CERBCO, Inc. CONSOLIDATING SCHEDULE - STATEMENT OF OPERATIONS INFORMATION SIX MONTHS ENDED DECEMBER 31, 2003 (unaudited)
CERBCO, Inc. CERBCO, Inc. INEI Consolidated Eliminations Unconsolidated Corporation Sales $ - (C) $(1,892,501) $ - $ 1,892,501 ----------- ----------- ---------- ----------- Costs and Expenses: Cost of sales - (C) (1,863,077) - 1,863,077 Selling, general and administrative expenses 329,900 (C) (1,696,926) 329,900 1,696,926 ----------- ----------- ---------- ----------- Total Costs and Expenses 329,900 (3,560,003) 329,900 3,560,003 ----------- ----------- ---------- ----------- Operating Loss (329,900) 1,667,502 (329,900) (1,667,502) Gain on Sale of Property and Equipment - Net - (C) (5,756,769) - 5,756,769 Investment Income 101,844 (C) (216) 101,844 216 Interest Expense - (C) 22,333 - (22,333) Other Income (Expense) - Net (582,443)(C) (88,744) (582,443) 88,744 ----------- ----------- ---------- ----------- Earnings (Loss) Before Income Taxes (810,499) (4,155,894) (810,499) 4,155,894 Provision (Credit) for Income Taxes - (C) (895,000) - 895,000 ----------- ----------- ---------- ----------- Earnings (Loss) from Continuing Operations (810,499) (3,260,894) (810,499) 3,260,894 Earnings from Discontinued Operations - Net 1,276,197 (C) 1,276,197 - - ----------- ----------- ---------- ----------- NET EARNINGS (LOSS) $ 465,698 (D) $(1,984,697) $(810,499) $ 3,260,894 =========== =========== ========== ===========
Exhibit 99 CERBCO, Inc. CONSOLIDATING SCHEDULE - BALANCE SHEET INFORMATION DECEMBER 31, 2003 (unaudited) CERBCO, Inc. CERBCO, Inc. INEI
Consolidated Eliminations Unconsolidated Corporation ASSETS Current Assets: Cash and cash equivalents $16,395,436 $ - $ 7,721,032 $ 8,674,404 Marketable securities 8,063,877 - 8,063,877 - Accounts receivable 612,676 - 42,517 570,159 Inventories 163,203 - - 163,203 Prepaid and refundable taxes 14,379 - - 14,379 Prepaid expenses and other 64,850 - 6,402 58,448 ------------ ----------- ----------- ----------- TOTAL CURRENT ASSETS 25,314,421 - 15,833,828 9,480,593 Investment in subsidiary - (E) (3,654,915) 3,654,915 - Property, Plant and Equipment - net of accumulated depreciation 360,464 - 5,728 354,736 Other Assets: Cash surrender value of SERP life insurance 2,348,767 - 2,020,438 328,329 Marketable securities 1,055,357 - 1,055,357 - Deferred income taxes - net of valuation allowance - - - - Deposits and other 44,489 - 44,489 - ------------ ----------- ----------- ----------- TOTAL ASSETS $29,123,498 $(3,654,915) $22,614,755 $10,163,658 ============ =========== ============ =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued liabilities $541,157 $ - $ 72,635 $ 468,522 Income taxes payable 10,000 - - 10,000 ------------ ----------- ----------- ----------- TOTAL CURRENT LIABILITIES 551,157 - 72,635 478,522 Accrued SERP liability 3,087,535 - 2,741,314 346,221 ------------ ----------- ----------- ----------- TOTAL LIABILITIES 3,638,692 - 2,813,949 824,743 ------------ ----------- ----------- ----------- Non-Owned Interests 5,684,000(C)(E) 5,684,000 - - ------------ ----------- ----------- ----------- Stockholders' Equity: Common stock 119,690 (E) (176,087) 119,690 176,087 Class B Common stock 29,105 (E (11,904) 29,105 11,904 Additional paid-in capital 7,578,028 (E) (4,022,323) 7,578,028 4,022,323 Retained earnings 12,073,983(D)(E) (6,318,214) 12,073,983 6,318,214 Treasury stock - (E) 1,189,613 - (1,189,613) ------------ ----------- ----------- ----------- TOTAL STOCKHOLDERS' EQUITY 19,800,806 (9,338,915) 19,800,806 9,338,915 ------------ ----------- ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $29,123,498 $(3,654,915) $22,614,755 $10,163,658 ============ =========== ============ ===========
Exhibit 99 CERBCO, Inc. CONSOLIDATING ELIMINATION ENTRIES DECEMBER 31, 2003 (unaudited) (A)
Sales $ 109,619 Gain on sale of property and equipment - net 693,977 Other income 148,878 Loss from discontinued operations - net 90,899 Non-owned interests 141,362 Cost of sales $ 242,899 Selling, general and administrative expenses 941,836 To eliminate the discontinued operations of INEI Corporation for the three months ended December 31, 2003. (B) Current year operations adjustments $ 141,362 Retained earnings $ 141,362 To close out impact of eliminating entries on current quarter's statement of operations. (C) Sales $1,892,501 Gain on sale of property and equipment - net 5,756,769 Investment income 216 Other income 88,744 Cost of sales $1,863,077 Selling, general and administrative expenses 1,696,926 Interest expense 22,333 Provision for income taxes 895,000 Earnings from discontinued operations - net 1,276,197 Non-owned interests 1,984,697 To eliminate the discontinued operations of INEI Corporation for the three months ended December 31, 2003. (D) Retained earnings $1,984,697 Current year operations adjustments $1,984,697 To close out impact of eliminating entries on six months' statement of operations. (E) Common stock $ 176,087 Class B stock 11,904 Additional paid-in capital 4,022,323 Retained earnings 4,333,517 Treasury stock $1,189,613 Non-owned interests 3,699,303 Investment in subsidiary 3,654,915 To eliminate investment in INEI Corporation.