Lime Energy (LMEC) 8-K/A Completion of Acquisition or Disposition of Assets

Exhibit 99.2

PARKE P.A.N.D.A. CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET

	June 30
	2006
	(unaudited)
Assets
Current Assets
Cash and cash equivalents	$	1,710
Accounts receivable, net		711,598
Inventories		142,789
Prepaid expenses and other		7,088
Total Current Assets		863,185
Net Property and Equipment		79,917
Other Assets		115
	$	943,217

See accompanying notes to condensed consolidated financial statements

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PARKE P.A.N.D.A. CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET

	June 30,
	2006
	(unaudited)
Liabilities and Stockholder’s Equity
Current Liabilities
Line of credit	$	400,000
Current maturities of long-term debt		10,172
Accounts payable		338,536
Accrued expenses		73,575
Customer advances		367
Total Current Liabilities		822,650
Long-Term Debt, less current maturities		35,591
Total Liabilities		858,241
Stockholder’s Equity
Common stock, no par value; 10,000 shares authorized; 10,000 issued and outstanding		10,000
Accumulated earnings		74,976
Total Stockholder’s Equity		84,976
	$	943,217

See accompanying notes to condensed consolidated financial statements

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PARKE P.A.N.D.A. CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Six Months ended, June 30	2006		2005
Revenue	$	1,883,830	$	1,747,569
Expense
Cost of Sales		1,169,365		1,118,120
Selling, general and administrative		520,263		359,533
		1,689,628		1,477,653
Operating income		194,202		269,916
Other Expense
Interest expense		2,491		2,483
Net Income	$	191,711	$	267,433

See accompanying notes to condensed consolidated financial statements

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PARKE P.A.N.D.A. CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Six Months ended June 30	2006			2005
Cash Flow from Operating Activities
Net income	$	191,711		$	267,433
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization		11,984			8,102
Changes in assets and liabilities
Accounts receivable		(382,282	)		(666,904	)
Inventories		16,007			9,096
Costs and estimated profits in excess of billings on uncompleted contracts		—			(81,380	)
Prepaid expenses and other current assets		(7,088	)		(186	)
Accounts payable		103,181			259,067
Accrued expenses		16,877			57,251
Customer advances		367			—
Net cash used in operating activities		(49,243	)		(147,521	)
Cash Flows Used In Investing Activities
Purchase of property and equipment		(2,476	)		(32,115	)
Cash Flows (Used in) Provided by Financing Activities
Borrowings on line of credit, net of repayments		400,000			200,989
Payment on loans from stockholders		—			(15,000	)
Payment on long-term debt		(2,983	)		(4,871	)
Stockholder distribution		(496,000	)		—
Net cash (used in) provided by financing activities		(98,983	)		181,118
Net (Decrease) Increase in Cash and Cash Equivalents		(150,702	)		1,482
Cash and Cash Equivalents, at beginning of period		152,412			5,579
Cash and Cash Equivalents, at end of period	$	1,710		$	7,061
Supplemental Disclosure of Cash Flow Information
Cash paid during the periods for interest	$	1,637		$	2,483
Non-cash investing activity:
Financed capital purchase	$	35,012		$	—

See accompanying notes to condensed consolidated financial statements

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Parke P.A.N.D.A. Corporation
Notes to Financial Statements

Note 1 – Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2006 and 2005 are not necessarily indicative of the results that may be expected for the fiscal year ended December 31, 2006. For further information, refer to the Company’s annual December 31, 2005 and 2004 financial statements and footnotes included as exhibit 99.1 in this Form 8-K/A.

Note 2 – Inventories

     Inventories consisted of the following:

	June 30,
	2006
Raw materials	$	142,789
Work in process		—
Finished goods		—
	$	142,789

Note 3 – Customer Concentration

One customer accounted for 15% of Company’s revenue during the six month period ended June 30, 2006. Accounts receivable from this customer at June 30, 2006 totaled approximately $245,000. Two customers accounted for 21% and 11% of the Company’s revenue during the six month period ended June 30, 2005, respectively. Accounts receivable from these customers at June 30, 2005 were approximately $259,000 and $50,000, respectively.

Note 4 – Line of Credit

The Company has a line of credit with a bank that provides for borrowings of the lesser of $400,000, or 80% of the aggregate of eligible accounts receivable. The line of credit accrues interest on outstanding balances at the lender’s prime rate (8.25% as of June 30, 2006) plus 1.09% and matures on July 25, 2006. Borrowings under this line of credit are secured by substantially all of the Company’s assets and are guaranteed by the Company’s stockholder. There were borrowings of $400,000 and $239,635 under the line of credit at June 30, 2006 and 2005, respectively.

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Note 5 – Related Party Transactions

The Company leases office space in Glendora, California from an entity owned by the Company’s stockholder. The lease expires on January 1, 2007. Total rent expense for this office space was $20,500 and $13,200 for the six months ended June 30, 2006 and 2005, respectively.

During the six months ended June 30, 2006, the Company recognized revenue of $30,895 for the sale of products and services to a company which is majority owned by the Company’s stockholder. There were no accounts receivable from this customer as of June 30, 2006.

Note 6 – Subsequent Event

Pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) dated as of June 30, 2006, by and among Electric City Corp., (“Electric City”) MPG Acquisition Corporation, a wholly-owned subsidiary of Electric City (“Merger Subsidiary”), and Parke P.A.N.D.A. Corporation (“Parke”), Electric City acquired Parke pursuant to the merger of Parke with and into Merger Subsidiary, with Merger Subsidiary continuing as the surviving corporation under the name Parke Industries, LLC.

The merger consideration consisted of $2,720,000 in cash and 5,000,000 shares of Electric City common stock. As a result of the merger, Merger Subsidiary became responsible for the liabilities of Parke. The acquisition will be recorded using the purchase method of accounting.

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