Please find enclose HIGHTIDE INC Income statement and Balance sheet
for period 01-01-96 to 12-31-96
REVENUE
REVENUE
Sales 0.00
Interest Revenue 0.42
TOTAL REVENUE 0.42
TOTAL REVENUE 0.42
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EXPENSE
OPERATING EXPENSES
Accounting 7113.78
Bank Charges and Interest 240.13
Legal Fees 1557.95
Office Supplies 0.00
Professional Fees 369.00
Travel 3576.65
Corporate Services 936.50
Foreign Exchange - Conv. Account 124.77
TOTAL OPERATING EXPENSES 13669.24
TOTAL EXPENSE 13669.24
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NET INCOME -13668.82
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Hightide Inc.
Balance Sheet As At 31-12-96
ASSETS
CURRENT ASSETS
Petty Cash 0.00
Bank Account CND 419.89
Conversion Account 0.00
Bank Account U.S. 1132.74
Cash In Trust 0.00
Cash: Total 1152.63
Prepaid Expenses 2500.00
Investments in Subsidiary Co. 737799.00
Accounts Receivable 0.00
Allowance-Doubtful Accts 0.00
Goodwill 3500.00
TOTAL CURRENT ASSETS 745351.63
TOTAL ASSETS 745351.63
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LIABILITIES
CURRENT LIABILITIES
Accounts Payable - CND 0.00
A/P - Conversion Account 0.00
Accounts Payable - U.S. 0.00
Loans Payable 17721.45
TOTAL CURRENT LIABILITIES 17721.45
TOTAL LIABILITIES 0.00
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EQUITY
SHARE CAPITAL
Common Stock-Class A 9000.00
Subscribed & Unissued 0.00
Additional Paid-In Capital 732299.00
TOTAL SHARE CAPITAL 741299.00
RETAINED EARNINGS
Retained Earnings 0.00
Current Earnings -13668.82
TOTAL RETAINED EARNINGS -13668.82
TOTAL EQUITY 727630.18
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LIABILITIES AND EQUITY 745351.63
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