Occam Networks 8-K/A Financial Statements and Exhibits

Exhibit 99.1.1

OCCAM NETWORKS, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

	June 25, 2006			December 25, 2005
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	7,388		$	6,571
Restricted cash		5,300			3,749
Accounts receivable, net		9,864			9,403
Inventories, net		6,407			4,448
Prepaid and other current assets		1,786			1,684
Total current assets		30,745			25,855
Property and equipment, net		1,714			1,889
Other assets		183			203
Total assets	$	32,642		$	27,947
LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	7,087		$	4,100
Accrued expenses		3,926			4,859
Deferred revenues		2,631			1,600
Current portion of long-term debt and capital lease obligations		—			1,233
Total current liabilities		13,644			11,792
Long-term debt and capital lease obligations		—			1,324
Total liabilities		13,644			13,116
Commitments and contingencies
Redeemable preferred stock:
Series A-2 convertible preferred stock, $.001 par value, authorized 4,600 shares, 3,784 and 3,560 issued and outstanding at June 25, 2006 and at December 25, 2005, respectively, liquidation preference of $114 million and d $107 million at June 25, 2006 and December 25, 2005, respectively		36,390			34,869
Series A-2 convertible preferred stock warrant		—			73
Stockholders’ deficit:
Common stock, $0.001 par value, 950,000 shares authorized; 7,264 and 6,871 shares issued and outstanding at June 25, 2006 and December 25, 2005, respectively		275			275
Additional paid-in capital		90,252			87,903
Warrants		454			559
Deferred stock compensation		—			(28	)
Accumulated deficit		(108,373	)		(108,820	)
Total stockholders’ deficit		(17,392	)		(20,111	)
Total liabilities, redeemable preferred stock and stockholders’ deficit	$	32,642		$	27,947