Enteractive, Inc.
Proforma Consolidated Balance Sheet
January 31, 1998
Proforma
Jan. 31 Proforma Jan.31
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1998 Adjustments 1998
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ASSETS (unaudited)
Current Assets
Cash and Cash Equivalents 579,000 2,000,000 (1) 2,579,000
Accounts Receivable, net 244,600 244,600
Assets held for Sale 16,900 16,900
Prepaid Expenses and other 186,200 186,200
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Total current assets 1,026,700 2,000,000 3,026,700
Affiliation Rights 552,100 552,100
Property & Equipment 539,100 539,100
Other 161,100 161,100
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Total Assets $ 2,279,000 2,000,000 4,279,000
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable 440,300 440,300
Accrued restructuring 297,200 297,200
Accrued payroll and related expenses 95,800 95,800
Other accrued expenses 407,200 407,200
Current Maturities of Long-term debt 128,500 128,500
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Total current liabilities 1,369,000 1,369,000
Long-term debt, excluding current maturities 148,800 148,800
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Total liabilities 1,517,800 1,517,800
Stockholders' Equity
Preferred Stock, $.01 par value:
2,000,000 shares authorized; 6,720 and no
Class A 6,720 shares issued and outstanding at
January 31, 1998 100 100
Class B 2,000 shares to be issued 100 (1) 100
Common Stock, $.01 par value, 50,000,000
shares authorized; 8,019,555 issued and
outstanding at January 31, 1998 77,700 14,000 (2) 91,700
Additional Paid in Capital 28,253,600 1,999,900 (1)
(14,000) (2) 30,239,500
Accumulated Deficit (27,570,200) (27,570,200)
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Total Stockholders' equity 761,200 2,000,000 2,761,200
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Total Liabilities and Stockholders' equity 2,279,000 2,000,000 4,279,000
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Proforma Adjustments:
(1) Private placement completed February 20, 1998
(2) 1,397,321 common shares issued in connection with warrant exchange completed
on February 6, 1998
Note:
The January balance sheet has been prepared by management directly from the
Comapny's general ledger without audit and without the rigor applied to the
Companies quarterly financial statements. The balance sheet includes normal
recurring entries. They should be read in conjuncition with the Company's
finanical statements and related notes in the May 31, 1997 Annual Report on Form
10-KSB.