Exhibit 99.2
REGENT COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(UNAUDITED)
(In thousands, except share amounts)
CONDENSED CONSOLIDATED BALANCE SHEET
(UNAUDITED)
(In thousands, except share amounts)
February 28, | ||||
2010 | ||||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 10,643 | ||
Restricted cash | 300 | |||
Accounts receivable, net of allowance of $551 at February 28, 2010 | 11,625 | |||
Assets held for sale | 156 | |||
Other current assets | 3,223 | |||
Total current assets | 25,947 | |||
Property and equipment, net | 29,410 | |||
Intangible assets, net | 97,729 | |||
Goodwill | 11,172 | |||
Deferred tax assets | — | |||
Other assets | 1,619 | |||
Total assets | $ | 165,877 | ||
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||||
Current liabilities: | ||||
Current portion of long-term debt | $ | 187,730 | ||
Accounts payable | 1,501 | |||
Accrued compensation | 905 | |||
Other current liabilities | 21,778 | |||
Total current liabilities | 211,914 | |||
Other long-term liabilities | 2,549 | |||
Total liabilities | 214,463 | |||
Commitments and contingencies | ||||
Stockholders’ deficit: | ||||
Common stock, $.01 par value, 100,000,000 shares authorized; 50,955,743 shares issued at February 28, 2010 | 510 | |||
Treasury stock, 7,950,723 shares, at cost, at February 28, 2010 | (40,832 | ) | ||
Additional paid-in capital | 339,322 | |||
Accumulated deficit | (347,586 | ) | ||
Total stockholders’ deficit | (48,586 | ) | ||
Total liabilities and stockholders’ deficit | $ | 165,877 | ||
Regent Communications, Inc. and its wholly-owned subsidiaries filed a joint petition for reorganization under
Chapter 11 of the U.S Bankruptcy Code on March 1, 2010.
Chapter 11 of the U.S Bankruptcy Code on March 1, 2010.