EX-99.1 5 0005.txt BALANCE SHEET EXHIBIT 99-1 DERMA SCIENCES, INC. BALANCE SHEETS June 30, 2000
* ACTUAL ADJUSTMENTS PROFORMA ---------------------------------------------- Current Assets Cash and cash equivalents 870,511 400,000 1,270,511 Accounts Receivable, net 1,867,298 1,772,990 Inventories 1,299,750 1,327,789 Current portion of officer's note receivable 19,330 19,330 Prepaid expenses and other current assets 420,427 445,449 --------------- ------------- ------------ Total Current Assets 4,477,316 400,000 4,836,069 Property and equipment, net 330,637 340,651 Long-term Assets Goodwill and other intangibles, net 1,485,601 1,496,042 Officer's note receivable 76,034 76,034 --------------- ------------- ------------ 6,369,588 400,000 6,748,796 --------------- ------------- ------------ Current Liabilities Accounts payable 1,038,258 1,139,980 Accrued expenses 413,496 431,443 Bank Line of credit 950,000 1,000,000 --------------- ------------- ------------ Total Current Liabilities 2,401,754 - 2,571,423 Long-term Liabilities Convertible Bonds 850,000 (375,000) 475,000 --------------- ------------- ------------ 3,251,754 (375,000) 3,046,423 --------------- ------------- ------------ Stockholders Equity Common Stock 14,092 5,667 19,759 Convertible Preferred Stock 14,809 3,750 18,559 Additional Paid-in Capital 11,416,947 765,583 12,182,530 Accumulated Deficit (8,328,014) (8,322,450) --------------- ------------- ------------ Total Stockholders Equity 3,117,834 775,000 3,898,398 --------------- ------------- ------------ 6,369,588 400,000 6,944,821 --------------- ------------- ------------ TOTAL STOCKHOLDERS' EQUITY 3,117,834 3,898,398 Less: Net Goodwill at June 30, 2000 1,301,058 1,301,058 ---------------- -------------- Net Tangible Assets 1,816,776 2,597,340 ================ ==============
* PROFORMA ADJUSTMENTS REFLECT THE PURCHASE OF 533,333 SHARES ($400,000) OF COMMON STOCK AT $0.75 PER SHARE AND CONVERSION OF $375,000 IN PRINCIPAL AMOUNT OF CONVERTIBLE BONDS. DERMA SCIENCES, INC. SCHEDULE OF GOODWILL - NET BALANCE LESS BALANCE BEGINNING AMORTIZATION ENDING ------------------------------------------------ Balance as of: 31-Mar-00 $1,354,690 $ 26,816 $1,327,874 30-Jun-00 1,327,874 26,816 1,301,058 30-Sep-00 1,301,058 26,816 1,274,242 31-Dec-00 1,274,242 26,816 1,247,426