Exhibit 99.1
IIS Intelligent Information Systems Ltd
Pro forma Consolidated Balance Sheets
(In thousands)
September 30, December 31,
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2001 2000 2000
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Unaudited (historical)
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(pro forma) (historical)
ASSETS
CURRENT ASSETS:
Cash and Cash Equivalents $ 1,780 $ 5,801 $ 3,077
Restricted Cash - - 600
Trade Receivables 14 - 43
Other Accounts Receivable 164 477 124
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Total Current Assets 1,958 6,278 3,844
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SEVERANCE PAY FUND 2 - 32
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INVESTMENT IN AFFILIATE 1,537 - 2,127
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PROPERTY, PLANT AND EQUIPMENT, NET 96 605 63
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WORK FORCE, NET 211 - 283
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Total Assets $ 3,804 $ 6,883 $ 6,349
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short Term Bank Debt $ 10 $ 165 $ 10
Trade Payables 130 342 177
Other Accounts Payable 761 1,715 1,403
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Total Current Liabilities 901 2,222 1,590
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LONG TERM LIABILITIES:
Banks 4 76 11
Convertible Loan - -- 2,828
Accrued Severance Pay 14 40 38
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Total Long Term Liabilities 18 116 2,877
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MINORITY INTEREST - 329 -
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PREFERRED SHARES OF SUBSIDIARY - 2,236 -
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SHAREHOLDERS' EQUITY:
Share Capital 54 54 54
Additional Paid in Capital 41,278 36,895 37,435
Receivables on account of shares - - (16)
Deferred Compensation (117) - (222)
Accumulated Deficit (38,330) (34,969) (35,369)
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Total Shareholders' Equity 2,885 1,980 1,882
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Total Liabilities and Shareholders' Equity $ 3,804 $ 6,883 $ 6,349
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