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Ex. J (Affiliate Financials) Mockup  

THIS DOCUMENT IS A TECHNICAL ILLUSTRATION OF HOW CERTAIN DISCLOSURES IN SEC FILINGS ARE TO BE TAGGED. IT DOES NOT INDICATE WHICH PARTICULAR DISCLOSURES MUST BE INCLUDED AND/OR TAGGED IN COMMISSION FILINGS, AND IT DOES NOT CONSTITUTE LEGAL GUIDANCE OF ANY SORT.

Affiliate 1

Balance Sheet (in thousands)

    Dec. 31, 2023   Dec. 31, 2022
Assets    
Current Assets                
  Cash and cash equivalents   $ 2,840       2,000  
  Accounts receivables - net of allowance for credit losses   $ 500       500  
  Other current assets     10       10  
    Total current assets   $ 3,350       2,510  
Premises and equipment - net of accumulated depreciation   $ 200       200  
Other non-current assets   $ 16       16  
Total Assets   $ 3,566       2,726  
Liabilities and Shareholders' Equity                
Current liabilities                
  Accounts payable   $ 400       400  
  Accrued expenses   $ 8       8  
  Other current liabilities   $ 500       500  
    Total current liabilities   $ 908       908  
Unsecured long-term debt     1,500       1,500  
Other non-current liabilities     10       10  
Total Liabilities   $ 2,418       2,418  
  Common stock     10        10   
  Retained earnings     1,138       298   
Total shareholders’equity   $ 1,148       308  
Total Liabilities and Shareholders' Equity   $ 3,566       2,726  

 

Income and Expense Statement (in thousands)

    Dec 31, 2023   Dec. 31, 2022
Revenue   $ 2,000   $ 2,000  
Operating Expenses        
Salaries and benefits   $ 1,000       1,000  
Professional services   $ 100       100  
Occupancy     50       50  
Other expenses   $ 40       40  
Total Operating Expenses   $ 1,190       1,190  
Other non-operating income     30       30  
Net Income (Loss)   $ 840       840