EXHIBIT 99.6
CAREY INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING BALANCE SHEET
NOVEMBER 30, 1996
Carey Indy
International, Connection
Inc. Limousine, Inc. Eliminations Total
-------------- --------------- ------------ -----------
ASSETS
Cash and cash equivalents $ 2,754,276 $ 113,435 $ $ 2,867,711
Accounts receivable, net 10,141,732 400,599 10,542,331
Notes receivable from contracts, current portion 402,751 402,751
Prepaid expenses and other current assets 1,936,961 124,777 2,061,738
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TOTAL CURRENT ASSETS 15,235,720 638,811 15,874,531
Fixed assets, net 3,379,246 2,255,664 5,634,910
Notes receivable from contracts, excluding current portion 769,201 769,201
Franchise rights, net 5,348,264 5,348,264
Trade name, trademark and contract rights, net 6,685,135 6,685,135
Goodwill and other intangible assets, net 7,262,203 23,730 7,285,933
Deferred tax assets 2,461,573 2,461,573
Deposits and other assets 1,384,787 34,219 1,419,006
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TOTAL ASSETS $ 42,526,129 $ 2,952,424 $ $45,478,553
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of notes payable $ 5,131,227 $ 727,022 $ $ 5,858,249
Current portion of capital leases 199,224 199,224
Current portion of subordinated notes payable 440,000 440,000
Accounts payable and accrued expenses 11,196,949 368,014 11,564,963
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TOTAL CURRENT LIABILITIES 16,967,400 1,095,036 18,062,436
Notes payable, excluding current portion 5,188,742 847,222 6,035,964
Capital leases, excluding current portion 663,030 633,030
Subordinated notes payable, excluding current portion 5,340,000 5,340,000
Deferred rent and other long-term liabilities 111,281 111,281
Deferred tax liabilities 1,402,611 109,000 1,511,611
Deferred revenue 6,181,147 6,181,147
STOCKHOLDERS' EQUITY
Preferred stock 1,115,400 1,115,400
Common stock 6,558 491,525 (484,307) 13,776
Additional paid-in capital 7,357,064 484,307 7,841,371
Accumulated deficit (1,807,104) 409,641 (1,397,463)
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TOTAL STOCKHOLDERS' EQUITY 6,671,918 901,166 7,573,084
------------- -------------- ------------ -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 42,526,129 $ 2,952,424 $ $45,478,553
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99.6.1
EXHIBIT 99.6
CAREY INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED NOVEMBER 30, 1996
Carey Indy
International, Connection
Inc. Limousine, Inc. Eliminations Total
---------------- ----------------- --------------- ----------------
Revenue, net $ 59,505,698 $ 6,080,105 $ (40,861) $ 65,544,942
Cost of revenue 40,438,449 3,251,590 (40,861) 43,649,178
---------------- ----------------- --------------- ----------------
Gross profit 19,067,249 2,828,515 21,895,764
Selling, general and administrative expense 15,077,553 1,649,057 16,726,610
---------------- ----------------- --------------- ----------------
Operating income 3,989,696 1,179,458 5,169,154
Other income (expense):
Interest expense (1,704,187) (194,044) (1,898,231)
Interest and other income 156,695 6,016 162,711
Gain (loss) on sales of fixed assets 269,654 86,100 355,754
---------------- ----------------- --------------- ----------------
Income before provision for income taxes 2,711,858 1,077,530 3,789,388
Provision for income taxes (104,246) 398,667 294,421
---------------- ----------------- --------------- ----------------
Net income $ 2,816,104 $ 678,863 $ $ 3,494,967
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99.6.2