PART I. FINANCIAL INFORMATION | |
Item 1. Financial Statements | |
Myrient, Inc. | |
Restated Consolidated Balance Sheet | |
February 28, 2003 | |
(Unaudited) | |
ASSETS | |
Current assets: | |
Cash | 970 |
Accounts receivable, net of allowance for doubtful accounts of | |
approximately $105,899 | $ 8,954 |
Total current assets | 8,954 |
Property and equipment, net of accumulated depreciation of $242,793 | 41,846 |
Deposits and other assets | 16,036 |
Total assets | $ 67,806 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | |
Current liabilities: | |
Accounts payable and accrued liabilities | $ 3,927,451 |
Line of credit borrowings | 500,000 |
Current portion of notes payable | 6,723,735 |
Convertible note payable | 875,000 |
Accrued payroll and related liabilities | 1,658,827 |
Accrued interest payable | 1,756,227 |
Current portion of capital lease obligations | 116,929 |
Total current liabilities | 15,558,169 |
Related party loans and notes payable | 6,135,964 |
Total liabilities | 21,694,133 |
Stockholders' deficit: | |
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares | |
issued and outstanding -- | |
Common stock, $0.01 par value; 75,000,000 shares authorized, 71,990,904 | |
shares issued and outstanding | 71,990 |
Additional paid-in capital | 18,594,836 |
Subscription Receivable | (30,000) |
Accumulated deficit | (40,263,153) |
Total stockholders' deficit | (21,626,327) |
Total liabilities and stockholders' deficit | $ 67,806 |
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS |
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8-K Filing
Myrient (MYNT) Inactive 8-KOther events
Filed: 27 Jun 03, 12:00am