Financial Statements
Fiberchem, Inc. 401(K) Savings Plan
December 31, 1993 and 1992
FIBERCHEM, INC. 401(K) PLAN AND TRUST
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
(UNAUDITED)
December 31 December 31
1993 1992
ASSETS
Hanna Stock Fund $125,370 $ -
Wells Fargo Collective Investment Funds 681,159 477,671
---------- ----------
TOTAL INVESTMENTS 806,529 477,671
Receivables:
Employer and employee contributions - 39,991
Loans receivable 12,477 -
---------- ----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $819,006 $517,662
========== ==========
See notes to financial statements.
FIBERCHEM, INC. 401(K) PLAN AND TRUST
STATEMENT OF CHANGES IN NET ASSETS
AVAILABLE FOR PLAN BENEFITS
(UNAUDITED)
Three-Way S&P US
Asset Growth 500 Treasury Money Wellsfunds
Sweep Allocation Stock Stock Allocation Market Asset
Account Fund Fund Fund Fund Fund Allocation
--------- --------- --------- --------- ---------- --------- ----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AS OF DECEMBER 31, 1992 $517,622 $0 $0 $0 $0 $0 $0
Investment Income:
Interest 3,770 1,061
Mutual fund income 10,438
Gain on sale of investments 13,419 3,957 798 1,293 782
Unrealized appreciation of
investments 8,498
--------- --------- --------- --------- ---------- --------- ----------
3,770 13,419 3,957 798 1,293 1,061 19,718
Contributions:
Employees (156) 65,415 18,271 4,979 5,911 37,693 77,109
Employer contributions 7,377 1,947 743 540 438
Reverse 1992 receivable (39,991)
--------- --------- --------- --------- ---------- --------- ----------
(40,147) 72,792 20,218 5,722 6,451 38,131 77,109
Distributions to employees
partially and wholly with-
drawn from the plan (2,371) (1,634) (1,617) (1,604) (25) (30,005) (211)
Net transfers (from) to other
funds (478,874) (84,577) (22,558) (4,916) (7,719) (9,187) 322,303
--------- --------- --------- --------- ---------- --------- ----------
NET ADDITIONS (517,622) 0 0 0 0 0 418,919
--------- --------- --------- --------- ---------- --------- ----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AS OF DECEMBER 31, 1993 $0 $0 $0 $0 $0 $0 $418,919
========= ========= ========= ========= ========== ========= ==========
Wellsfunds Wellsfunds Wellsfunds Wellsfunds Hanna
Growth Money S&P Treasury Stock
Stock Market 500 Allocation Fund Loans Total
---------- ----------- ----------- ---------- --------- --------- ------------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AS OF DECEMBER 31, 1992 $0 $0 $0 $0 $0 $0 $517,622
Investment Income:
Interest 276 5,107
Mutual fund income 4,225 394 624 1,983 17,664
Gain on sale of investments 500 212 79 402 21,442
Unrealized appreciation of
investments 11,097 1,550 (484) 14,978 35,639
---------- ----------- ----------- ---------- --------- --------- ------------
15,822 394 2,386 1,578 15,380 276 79,852
Contributions:
Employees 21,349 6,771 8,302 7,143 39,212 291,999
Employer contributions 14,497 25,542
Reverse 1992 receivable (39,991)
---------- ----------- ----------- ---------- --------- --------- ------------
21,349 6,771 8,302 7,143 53,709 0 277,550
Distributions to employees
partially and wholly with-
drawn from the plan (3,455) (5,219) (3,804) (2,804) (3,269) (56,018)
Net transfers (from) to other
funds 111,543 27,905 44,432 29,897 59,550 12,201 0
---------- ----------- ----------- ---------- --------- --------- ------------
NET ADDITIONS 145,259 29,851 51,316 35,814 125,370 12,477 301,384
---------- ----------- ----------- ---------- --------- --------- ------------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AS OF DECEMBER 31, 1993 $145,259 $29,851 $51,316 $35,814 $125,370 $12,477 $819,006
========== =========== =========== ========== ========= ========= ===========