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CERES ENVIRONMENTAL SERVICES, INC.
<br /> BALANCE SHEET
<br /> As of December 31, 2016
<br /> ASSETS
<br /> CURRENT ASSETS
<br /> Cash and cash equivalents $ 3,486,940
<br /> Short-term investments 219,177
<br /> Accounts receivable, net
<br /> Current contract billings and other receivables 34,323,483
<br /> Retained percentage 4,264,215
<br /> Due from related parties 2,631,111
<br /> Inventories 208,738
<br /> Other current assets 91,270
<br /> Prepaid expenses 257,338
<br /> Costs and estimated earnings in excess of billings on uncompleted contracts 5,295.851
<br /> Total Current Assets 50,778.123
<br /> PROPERTY AND EQUIPMENT-at cost
<br /> Land 966,811
<br /> Construction equipment 30,254,621
<br /> Office furniture and equipment 330,663
<br /> Leasehold improvements 177,862
<br /> 31,729,957
<br /> Less:Accumulated depreciation, depletion and amortization 16,543.655
<br /> Net Property and Equipment 15,186,302
<br /> TOTAL ASSETS $ 65,964,425
<br /> LIABILITIES AND STOCKHOLDER'S EQUITY
<br /> CURRENT LIABILITIES
<br /> Current maturities of equipment notes payable $ 3,012,873
<br /> Line of credit 3,000,000
<br /> Accounts payable, including retainage of$4,046,988 15,357,461
<br /> Accrued payroll and related taxes 653,385
<br /> Accrued loss on uncompleted contracts 909,122
<br /> Accrued liabilities 949,736
<br /> Note payable-stockholder 3,100,000
<br /> Billings in excess of costs and estimated earnings on uncompleted contracts 949,874
<br /> Total Current Liabilities 27,932,451
<br /> LONG-TERM LIABILITIES
<br /> Equipment notes payable, less current maturities 4,618,087
<br /> Related party notes payable 18,020,000
<br /> Total Long-Term Liabilities 22,638,087
<br /> Total Liabilities 50,570,538
<br /> STOCKHOLDER'S EQUITY
<br /> Common stock,$.01 par value;
<br /> 1,000,000 shares authorized •
<br /> 100,000 shares issued and outstanding 1,000
<br /> Additional paid-in capital 23,328,456
<br /> Accumulated deficit (7,935,569)
<br /> Total Stockholder's Equity 15,393,887
<br /> TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $, 65,964,425
<br /> See accompanying notes to financial statements.
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<br /> CONFIDENTIAL& PROPRIETARY
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