Exhibit 99.2
CORRECTION — IdleAire Technologies Corporation Announces Third Quarter 2006 Operating Results
KNOXVILLE, Tenn., November 15, 2006 — In the news release, “IdleAire Technologies Corporation Announces Third Quarter 2006 Operating Results,” issued November 14, 2006, by IdleAire Technologies Corporation, the accompanying Condensed Balance Sheets, (Unaudited), contained two incorrect figures. The “Accounts payable” line should show a balance of $12,724,036 and the “Stockholder subscription receivable” line should show a balance of $(925,000) at September 30, 2006. This change has no impact on any other reported numbers.
The corrected Condensed Balance Sheets, (Unaudited), below replace the Condensed Balance Sheets, (Unaudited), in the November 14, 2006, press release.
IdleAire Technologies Corporation
Condensed Balance Sheets
(Unaudited)
| | | | | | | | |
| | September 30, | | December 31, |
| | 2006 | | 2005 |
| | |
Assets | | | | | | | | |
Current assets: | | | | | | | | |
Cash and cash equivalents | | $ | 23,920,421 | | | $ | 5,925,600 | |
Accounts receivable | | | 4,978,125 | | | | 768,204 | |
Accounts receivable — related parties | | | 5,000 | | | | 5,000 | |
Inventories | | | 822,370 | | | | 292,710 | |
Prepaid expenses and other current assets | | | 2,103,407 | | | | 947,615 | |
| | |
Total current assets | | | 31,829,323 | | | | 7,939,129 | |
| | | | | | | | |
Restricted cash and investments | | | 79,479,462 | | | | 202,772,260 | |
Deposits with vendors | | | 25,486,314 | | | | 232,779 | |
Property and equipment, net | | | 111,411,711 | | | | 33,252,636 | |
Deferred financing costs, net | | | 29,291,860 | | | | 29,506,307 | |
Other assets | | | 66,000 | | | | 82,270 | |
| | |
Total assets | | $ | 277,564,670 | | | $ | 273,785,381 | |
| | |
| | | | | | | | |
Liabilities and stockholders’ equity | | | | | | | | |
Current liabilities: | | | | | | | | |
Accounts payable | | $ | 12,724,036 | | | $ | 2,641,515 | |
Accrued expenses | | | 4,265,966 | | | | 1,935,917 | |
Deferred trade revenue | | | 1,163,944 | | | | 990,165 | |
Deferred grant revenue | | | 1,082,805 | | | | 1,381,426 | |
| | |
Total current liabilities | | | 19,236,751 | | | | 6,949,023 | |
| | | | | | | | |
Deferred grant revenue | | | 8,823,432 | | | | 5,610,783 | |
Other liabilities | | | 3,129,789 | | | | — | |
Secured convertible notes | | | 100,000 | | | | 100,000 | |
Senior secured discount notes | | | 225,794,984 | | | | 201,690,400 | |
| | |
Total liabilities | | | 257,084,956 | | | | 214,350,206 | |
| | | | | | | | |
Stockholders’ equity: | | | | | | | | |
| | | | | | | | |
Series A convertible preferred stock | | | 30,349,676 | | | | 30,349,676 | |
Series B convertible preferred stock | | | 49,055,727 | | | | 49,055,727 | |
Series C convertible preferred stock | | | 22,155,254 | | | | 22,155,254 | |
Common stock | | | 48,639 | | | | 48,533 | |
Stockholder subscription receivable | | | (925,000 | ) | | | (925,000 | ) |
Treasury stock | | | (200,000 | ) | | | (200,000 | ) |
Deferred compensation | | | — | | | | (96,000 | ) |
Additional paid-in capital | | | 52,157,828 | | | | 51,766,798 | |
Accumulated deficit | | | (132,162,410 | ) | | | (92,719,813 | ) |
| | |
Total stockholders’ equity | | | 20,479,714 | | | | 59,435,175 | |
| | |
Total liabilities and stockholders’ equity | | $ | 277,564,670 | | | $ | 273,785,381 | |
| | |