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TENEX ENTERPRISES, INC. <br />BALANCE SHEET <br />FOR THE SIX MONTHS ENDED JUNE 30, 2007 <br />ASS E TS <br />Current AS3ets: <br />Cash <br />Contract receivables <br />Prepaid Insurance <br />Costs and estimated eamings in excess of billings on <br />Uncompleted contracts <br />Total Current Assets <br />Property and Equipment: <br />Furniture, fixtures, and equipment <br />Accumulated depreciation <br />Other Assets: <br />Note receivable - officer <br />Total Current Assets <br />$ 150,740 <br />2,025,524 <br />19, 170 <br />275,000 <br />900,781 <br />(474,541) <br />LIAEILI T IES AND STOCKHOLDERS EQUI T Y <br />Current Liabilites: <br />$ 21,So0 <br />Current portion of long- term debt <br />Accounts payable & accrued expenses <br />1,169,102 <br />lricome tax payable <br />49,400 <br />Deferred income taxes <br />473,970 <br />Billings in excess of costs and estimated earnings <br />on uncompleted contracts <br />0 <br />Total Current Liabilities <br />TL,ong -term Debt, net of current portion: <br />Stockholders Equity: <br />Common stock -$1.00 par value, 500 <br />500 shares authcnized, issued and outstanding <br />Retained Earnings 1,378,286 <br />Tota! Stockholders Equity <br />Total Liabilities and Stockholders Equity <br />See accompanying notes and accountants report <br />$ 2,478,434 <br />426,240 <br />207,741 <br />$ 3,112,415 <br />$ 1,714,022 <br />19,607 <br />1,378,786 <br />$ 3,112,415 <br />