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<br />BUDGET CONSTRUCTION CO., INC. AND BUDGET HOLDINGS, LLC <br />NOTES TO THE COMBINED FINANCIAL STATEMENTS <br />Years Ended December 31, 2008 and 2007 <br /> <br />NOTE 9 - Long-term debt (Continued): <br /> <br />The following is a summary of principal maturities oflong-term debt during the next five years: <br /> <br />Years Ending <br />December 31, Amount <br />2009 $ 697,755 <br />2010 519,343 <br />2011 366,283 <br />2012 170,180 <br />2013 119,901 <br />Thereafter 1,297,033 <br />Total $ 3,170,495 <br /> <br />On June 14,2007, The Affiliate restructured its mortgages payable for working capital purposes and <br />reserves said mortgages include cross-default and cross-collateralization of The Company, the <br />stockholders and another affiliate, City Commercial Properties, LLC. <br /> <br />NOTE 10 - Due to stockholders: <br /> <br />Due to stockholders consists of the funds advanced by the majority stockholder of The Company for <br />working capital purposes and reserves. Such loan is subordinated to the bonding company and the <br />financial institution for partially collateralizing a bonding line and line of credit, respectively. <br /> <br />NOTE II - Common stock: <br /> Common Additional <br /> Stock Paid-in-Capital Combined <br />Budget Construction Co., Inc. <br />100 shares authorized issued and <br />outstanding at $1.00 par value $ 100 $ 276,483 $ 276,583 <br />Budget Holdings, LLC <br />(a partnership) <br />Combined Total $ 100 $ 276,483 $ 276,583 <br /> <br />NOTE 12 - Indirect costs not allocated to contracts: <br /> <br />Indirect costs consist of both fixed and variable elements of cost, not allocated to contracts as <br />of December 31,2008 and 2007. <br /> <br />14 <br /> <br />Benitez & Company. CPA's <br />