BALANCE SHEET As of January 31, 1997
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Debtor Name: SONIC ENVIRONMENTAL SYSTEMS, INC.
Case Number: 96-26268 (RG)
ASSETS Current Month Prior Month
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Current Assets
Cash 199,133.00 233,058.00
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Inventory 291,565.00 316,972.00
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Accounts Receivable 122,787.00 163,881.00
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Notes Receivable
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Other (attach list)
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Total Current Assets 613,485.00 713,911.00
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Fixed Assets
Property and Equipment 701,000.00 701,000.00
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Accumulated Depreciation 564,000.00 564,000.00
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Total Fixed Assets 137,000.00 137,000.00
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Other Assets 111,433.00 111,433.00
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(attach list) 861,918.00 962,344.00
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TOTAL ASSETS
LIABILITIES
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Post-petition Liabilities:
Accounts Payable 27,405.00 40,205.00
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Notes Payable 100,000.00 100,000.00
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Rents & Leases Payable
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Taxes Payable
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Accrued Interest
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Other:
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Total Post-petition Liabilities 127,405.00 140,205.00
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Pre-petition Liabilities
Unsecured Debt 2,456,549.00 2,456,549.00
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Notes Payable-Secured 1,065,000.00 1,065,000.00
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Other Debt (priority
Claims)
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Taxes 221,400.00 221,400.00
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Wages
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Deposits
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Other:
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Total Pre-petition Liabilities 3,742,949.00 3,742,949.00
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TOTAL LIABILITIES 3,870,354.00 3,883,154.00
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Preferred Stock 10,655,759.00 10,655,759.00
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Common Stock (13,664,195.00) (13,576,569.00)
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Capital Surplus
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Retained Earnings
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PARTNERS' INVESTMENT (DEFICIT)
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(3,008,436.00) (2,920,810.00)
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TOTAL OWNER EQUITY
(NET WORTH) 861,918.00 962,344.00
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TOTAL LIABILITIES AND
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OWNER EQUITY
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NOTES:
1. Explain significant events, including contingent liabilities and pending
lawsuits, which may have a material effect on the financial condition of the
debtor.
2. Value assets at lower of cost or market and identify which method is being
used.
3. Explain the method of inventory valuation if other than the lower of cost or
market.
4. Identify any changes in stock holdings of "insiders" during the reporting
period.