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<br />Tenex Enterprises, Inc. <br />Balance Sheet <br />As of May 31,2010 <br /> <br />ASSETS <br /> <br />Current Assets: <br />Cash 315,480 <br />Contract receivables 3,223,664 <br />Costs and estimated earnings In excess of billings on <br />Uncompletes contracts 194,900 <br />Prepaid expenses 198,967 <br /> <br />Total Current Assets <br /> <br />Property and Equipment: <br />Furniture, fixtures, and equipment <br />Accumulated depreciation <br /> <br />Other Assets: <br />Note receivable-officer <br /> <br />Total Assets <br /> <br />1,274,527 <br />(628,548) <br /> <br />3,933,011 <br /> <br />645,979 <br /> <br />207,741 <br /> <br />4,786,731 <br /> <br />LIABILITIES AND STOCKHOLDERS EQUITY <br /> <br />Current Liabilites: <br /> <br />Credit line <br />Current portion of long- term debt <br />Accounts payable & accrued expenses <br />Deferred income taxes <br />Income tax payable <br />Billings in excess of costs and estimated earnings <br />on uncompleted contracts <br /> <br />Total Current Liabilities <br /> <br />Long-term Debt, Net of Current Portion: <br /> <br />Stockholders Equity: <br />Common stock-$1.00 par value, <br />500 shares authorized, issued and outstanding <br />RetaIned Earnings <br /> <br />Total Stockholders Equity <br /> <br />Total Liabilities and Stockholders Equity <br /> <br />430,239 <br />74,126 <br />2,148,774 <br />521,976 <br />4,752 <br /> <br />1,596,914 <br /> <br />See accountants compilation report <br /> <br />o <br /> <br />3,179,867 <br /> <br />9,450 <br /> <br />500 <br /> <br />1,597,414 <br /> <br />4,786,731 <br />