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<br /> NUTTING ENGINEERS OF FLORIDA, INC.
<br />I BALANCE SHEETS
<br /> AS OF MARCH 31, 2007 AND 2006
<br />I ASSETS
<br /> CURRENT ASSETS 2007 2006
<br /> Cash in Bank $ 55,025 $ 15,529
<br /> Accounts Receivable 875,964 1,015,788
<br />I Prepaid Insurance 20,231 41,713
<br /> Current Assets 951,220 1,073,030
<br /> PROPERTY & EQUIPMENT
<br />I Building and Land - Port St. Lucie 326,930 326,930
<br />Automobiles and Trucks 359,327 359,327
<br /> Laboratory and Testing Equipment 91,317 98,271
<br />I Engineering Field Equipment 137,210 157,405
<br />Office Furniture and Fixtures 77,776 139,755
<br /> Leasehold Improvements 172,524 154,905
<br />I Total 1,165,085 1,236,593
<br />(Less) : Accumulated Depreciation (559,868) (536,117)
<br />Net Book Value 605,216 700,476
<br />I INTANGIBLE ASSETS
<br />Customers' Lists 127,639 127,639
<br />Loan Orgination Fees 1 ,400 1 ,400
<br />I (Less) : Accumulated Amortization (127,803) (126,391)
<br />Total - Net 1,236 2,648
<br /> OTHER ASSETS - Deposits 17,099 15,739
<br />I Total Assets $ 1,574,771 $ 1,791,893
<br />I LIABILITIES AND STOCKHOLDERS' EQUITY
<br />II CURRENT LIABILITIES
<br />Accounts Payable $ 201,932 $ 210,331
<br />I Accrued Expenses 176,408 180,884
<br />Notes Payable - (Current Portion) 95,792 92,548
<br />Loan Payable - Related Entity 107,824 137,972
<br /> Bank Loan - Line of Credit 397,000 390,248
<br />I Current Liabilities 978,957 1,011,983
<br />I LONG- TERM LIABILITIES
<br /> Notes Payable 440,551 560,469
<br />II (Less) : Current Portion (95,792) (92,548)
<br />Total Lonq-Term Liabilities 344,759 467,921
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<br />,I Total Liabilities 1,323,715 1,479,904
<br />STOCKHOLDERS EQUITY
<br />Capital Stock, Authorized. 10,000 Shares
<br />II Issued and Outstanding, 6,000 Shares,
<br />No Par Value 1,719 1,719
<br />Contributed Capital 18,258 18,258
<br /> I Retained Earnings 231,079 292,012
<br /> Total Stockholders' Equity 251,056 311,989
<br /> Total Liabilities and Stockholders' Equity $ 1,574,771 $ 1,791,893
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<br /> CITY OF SUNNY ISLES BEACH
<br /> n See Accountants' Compilation Report RFQ NO. 07-07-01
<br /> PAGE 8
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