EXHIBIT 99.3 ORGANIC WASTE TECHNOLOGIES, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) ------------------------------------------------------------------------------------------------------------------- Three months ended March 31, ---------------------------------- (In thousands, except per share amounts) 1996 1995 ------------------------------------------------------------------------------------------------------------------- Gross revenue $ 4,574 $ 3,352 Outside services, at cost -- -- ----------- ------------ Net revenue 4,574 3,352 Costs and expenses: Direct expenses 3,385 2,366 Indirect expenses 1,181 634 ------- --------- Income from operations 8 352 Interest income (expense), net (79) (88) Equity in loss of affiliates (2) (7) ----------- ----------- Income (loss) before provision (benefit) for income taxes (73) 257 Provision (benefit) for income taxes (39) 97 ----------- --------- Net income (loss) $ (34) $ 160 =========== ======== See accompanying notes to pro forma consolidated condensed financial statements. 29