1 EXHIBIT A WAVETECH, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET APRIL 11, 1996 (UNAUDITED) ----------- ASSETS April 11, 1996 ------------- Current assets: Cash and Cash equivalents $1,617,402.81 Other Current Assets 4,397.69 ------------- Total Current Assets 1,621,800.50 Property and equipment, net 535,049.06 Other Assets: Deposits 64,717.93 Other Assets 12,100.00 -------------- Total Other Assets 76,817.93 ------------- Total Assets $2,233,667.49 ============= LIABILTIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued expenses $ 97,486.14 Capital Leases 14,979.92 Notes payable, current 53,638.86 ------------- Total Current Liabilities 166,104.92 ------------- Stockholders' equity: Common stock, par value $.001 per share; 1,503,015.58 50,000,000 shares authorized, and 12,509,246 shares issued and outstanding Additional paid in capital 2,739,791.87 Retained earnings (accumulated deficit) (2,175,244.88) ------------- Total stockholders' equity (deficit) 2,067,562.57 ------------- Total liabilities and stockholders' equity $2,233,667.49 =============