EXHIBIT 99.1
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VIEW TECH, INC.
CONSOLIDATED BALANCE SHEETS
ASSETS
December 15, December 31,
1998 1997
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CURRENT ASSETS: (Unaudited)
Cash and cash equivalents $ 772,683 $ 1,204,690
Accounts receivable (net of reserves of $838,967
and $658,656, respectively) 14,803,527 13,326,667
Inventory 3,574,767 2,532,456
Other current assets 455,447 428,889
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Total Current Assets 19,606,424 17,492,702
PROPERTY AND EQUIPMENT, net 3,477,104 3,423,838
GOODWILL, net 2,308,190 4,198,927
OTHER ASSETS 711,206 696,701
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$26,102,924 $25,812,168
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 8,959,206 $ 7,168,763
Current portion of long-term debt 459,057 661,290
Accrued payroll and related costs 1,939,424 1,904,506
Deferred revenue 1,965,270 1,087,161
Accrued restructuring costs 1,199,811 --
Other current liabilities 627,280 1,371,248
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Total Current Liabilities 15,150,048 12,192,968
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LONG-TERM DEBT 4,422,069 5,342,368
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COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, par value $.0001, authorized
5,000,000 shares, none issued or outstanding -- --
Common stock, par value $.0001, authorized
20,000,000 shares, issued and outstanding
7,722,278 and 6,589,571 shares at December 15, 1998
and December 31, 1997, respectively 772 659
Additional paid-in capital 15,261,091 13,653,624
Accumulated deficit (8,731,056) (5,377,451)
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6,530,807 8,276,832
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$26,102,924 $25,812,168
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