ABBEY GROUP INC.
STATEMENT
JUNE 30, 1993
DAVID SUSS
CERTIFIED PUBLIC ACCOUNTANT
271 MADISON AVENUE
SUITE 208
NEW YORK, NY 10016
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(212) 883-1050
The Board of Directors
Abbey Group Inc.
Gentlemen:
I have examined the Balance Sheet and Statement of Income and Expenses as
at June 30, 1993 and for the year ended June 30, 1993 respectively.
My examination was made in accordance with generally accepted auditing
standards, and accordingly, included such tests of the accounting records and
such other auditing procedures as I considered necessary under the
circumstances.
In my opinion, the accompanying Balance Sheet as at June 30, 1993 and the
Statement of Income and Expenses for the year ended June 30, 1993 present fairly
the position of the Abbey Group Inc. and the result of operations of the year
then ended, in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
Respectfully submitted,
/s/ David Suss CPA
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David Suss
Certified Public Accountant
ABBEY GROUP INC.
BALANCE SHEET
JUNE 30, 1993
ASSETS
TOTAL ASSETS $ -0-
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LIABILITIES
Accrued Expenses $ 1,228
Stockholder Loans 13,505
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TOTAL LIABILITIES $ 14,733
STOCKHOLDERS EQUITY (DEFICIT)
Common Stock $ 74,409
Paid-In Capital 452,360
Retained Earnings (541,502)
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TOTAL SHAREHOLDERS DEFICIT ($ 14,733)
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See accompanying letter of transmittal.
ABBEY GROUP INC.
INCOME STATEMENT
JULY 1, 1992 - JUNE 30, 1993
INCOME $ NONE
EXPENSES
Total Expenses 9,700
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NET LOSS ($ 9,700)
RETAINED EARNINGS - JULY 1, 1992 (531,802)
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RETAINED EARNINGS - JUNE 30, 1993 ($541,502)
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See accompanying letter of transmittal.