TELETRAK ENVIRONMENTAL SYSTEMS INC
CONSOLIDATED BALANCE SHEET
MARCH 31, 2000
UNAUDITED AUDITED
ASSETS 03/31/00 12/31/99
CURRENT ASSETS:
CASH 39,863 22,919
ACCOUNTS RECEIVABLE 534,696 447,477
ALLOWANCE FOR DOUBTUL ACCOUNTS (50,000) (50,000)
INVENTORY 465,590 443,991
OTHER CURRENT ASSETS 16,189 16,021
TOTAL CURRENT ASSETS 1,006,338 880,408
PROPERTY & EQUIPMENT 337,150 347,782
LESS: ACCUMULATED DEPRECIATION (139,695) (129,164)
NET 197,455 218,618
OTHER ASSETS 374,654 380,646
TOTAL ASSETS 1,578,446 1,479,672
LIABILITIES & STOCKHOLDERS EQUITY
NOTES PAYABLE 599,220 550,000
LONG TERM DEBTS 102,161 98,621
A/P & ACCRUED EXPENSES 434,529 414,266
DUE TO RELATED PARTIES 149,819 201,562
TOTAL LIABILITIES 1,285,729 1,264,449
STOCKHOLDERS' EQUITY
PREFERRED STOCK - $.001 PAR VALUE. 5,000,000 SHARES
AUTHORIED NONE ISSUED
COMMON STOCK- $.001 PAR VALUE.
25,000,000 SHARES AUTHORIED 7,694 7,694
7,252,927 AT 12/31/98, 7,252,927
AT 3/31/99 SHARES ISSUED & OUTANDING
ADDITIONAL PAID IN CAPITAL 1,516,434 1,516,434
RETAINED EARNINGS (1,308,905) (637,867)
CURRENT YEAR EARNINGS(LOSS) 77,494 (671,038)
TOTAL STOCKHOLDERS' EQUITY 292,717 215,223
TOTAL LIABILITIES & STOCKHOLDERS
EQUITY 1,578,446 1,479,672
TELETRAK ENVIRONMENTAL SYSTEMS INC & SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
THREE MONTHS ENDED
MARCH 31, 2000
UNAUDITED AUDITED
2000 1999
NET SALES 610,826 515,326
COST OF GOODS SOLD 314,326 355,906
GROSS PROFIT 296,500 159,420
OPERATING EXPENSES:
SELLING, G&A EXPENSES 220,502 183,800
ADVERTISING 0 11,470
BAD DEBT 0
TOTAL OPERATING EXPENSES 220,502 195,270
PROFIT(LOSS) FROM OPERATIONS 75,998 (35,850)
INTEREST EXPENSES 14,836 7,511
OTHER INCOME/EXPENSES
PROFIT(LOSS) BEFORE
PROVISION OF INCOME TAXES 61,162 (43,361)
PROVISION FOR INCOME TAXES 0
NET PROFIT(LOSS) 61,162 (43,361)
NET GAIN (LOSS) PER SHARE 0.01 (0.01)
WEIGHTED AVERAGE NUMBER
OF COMMON SHARES OUTSTANDING 7,329,560 7,329,560
TELETRAK ENVIRONMENTAL SYSTEMS, INC
CONSOLIDATED STATEMENTS OF CASH FLOW
THREE MONTHS ENDED MARCH 31, 2000
UNAUDITED
2000 1999
CASH FLOW FROM OPERATING ACTIVITIES:
NET INCOME(LOSS) 77,494 ( 43,361)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET
CASH USED IN OPERATING ACTIVITIES:
PROVISION FOR DOUBTFUL ACCOUNTS
DEPRECIATION & AMORTIZATION 24,073 12,095
WRITE OFF OF FIXED ASSETS 0 0
GAIN/LOSS ON WRITE OFF OF INVESTMENT 0 0
CHANGES IN:
ACCOUNTS RECEIVABLE (87,219) (148,875)
INVENTORY (21,599) ( 1,520)
PREPAID EXPENSES & OTHER ASSETS ( 7,693) 54
A/P AND ACCURED EXPENSES 20,248 99,748
DUE TO/FROM RELATED PARTY (51,743) 10,038
NET CASH USED IN OPERATING ACTIVITIES: (46,439) (107,821)
CASH FLOWS FROM INVESTING ACTIVITIES:
ACQUISITIONS OF PROPERTY & EQUIPMENT 10,623 (237,297)
CASH FLOWS FROM FINANCING ACTIVITIES:
PROCEEDS FROM SALE OF COMMON STOCK
PRINCIPAL PAYMENTS ON NOTES & LOANS PAYABLE 52,760 142,889
NET CASH PROVIDED BY FINANCING ACTIVITIES: 52,760 142,889
NET INCREASE(DECREASE) IN CASH 16,944 (202,229)
CASH AT THE BEGINNING OF PERIOD 22,919 296,709
CASH AT THE END OF PERIOD 39,863 94,480
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
CASH PAID DURING THE QUARTER FOR:
INTEREST 14,836 7,511
TAXES 0 0
SUPPLEMENTAL DISCLOSURES OF NON-CASH OPERATING AND FINANCING ACTIVITIES:
COMMON STOCK SUBSCRIPTIONS RECEIVABLE 80,000
INVENTORY ( 80,000)
FIXED ASSETS (209,000)
COMMON STOCK 209,000
