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<br />TEN EX ENTERPRISES, INC. <br />NOTES TO FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED DECEMBER 31,2009 <br /> <br />NOTE C - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED <br />CONTRACTS <br /> <br />Costs incurred on uncompleted contracts <br />Estimated earnings <br /> <br />$ 5,186,673 <br />585.363 <br />5,772,036 <br />5.569.301 <br />$ 202.735 <br /> <br />Billings to date <br /> <br />Included in the accompanying balance sheet under the following captions: <br />Costs and estimated earnings in excess of billings <br />on uncompleted contracts $ 202,735 <br /> <br />Billings in excess of costs and estimated earnings <br />on uncompleted contracts <br /> <br />o <br />$ 202.735 <br /> <br />The Company does not bill in advance of worked performed. <br /> <br />NOTE D - NOTE RECEIVABLE-OFFICER <br /> <br />The note receivable to the company's sole shareholder is non interest bearing with no <br />repayment date. <br /> <br />NOTE E - CREDIT LINE PAYABLE <br /> <br />The Company maintains a line of credit up to $250,000 to Regions Bank due on June 1, 2011 <br />at a commercial base rate plus 1 cUlTently 4.25%. It is secured by the Company's assets and <br />the personal guarantee of the Company's sole shareholder. As of December 31, 2009 the <br />balance ofthe credit line advanced totaled $0.00. <br /> <br />The Company also maintains a line of credit up to $300,000 to Bank of America due on <br />August 1, 2009 at a cOlmnercial base rate plus 1 currently 4.25%. It is secured by the <br />Company's assets. As of December 31,2009 the balance of the credit line advanced totaled <br />$0.00. <br />