Exhibit 99.02
Actuate Holding B.V.
Condensed Consolidated Balance Sheet
(unaudited)
June 18,
1999
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Assets
Current assets:
Cash and cash equivalents $ 216,000
Accounts receivable less allowance for doubtful
accounts of $161,643 797,000
Prepaid expenses and other current assets 73,000
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Total current assets 1,086,000
Property and equipment, net 68,000
Other assets 305,000
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Total assets $ 1,459,000
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Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 853,000
Accrued compensation 351,000
Other accrued liabilities 2,734,000
Deferred revenue 186,000
Short term debt 627,000
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Total current liabilities 4,751,000
Shareholder loans 3,151,000
Interest payable to shareholders 413,000
Commitments and contingencies
Stockholders' equity (net capital deficiency):
Common stock, NLG 1 par value, 200,000 shares
authorized at June 18, 1999; 40,000 shares issued and
outstanding at June 18, 1999 20,000
Cumulative translation adjustment 535,000
Accumulated deficit (7,411,000)
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Total stockholders' equity (net capital deficiency) (6,856,000)
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Total liabilities and stockholders' equity (net capital
Deficiency) $ 1,459,000
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1
Actuate Holding B.V.
Condensed Consolidated Statements of Operations
(unaudited)
January 1, 1999 January 1, 1998
to June 18, 1999 to June 30, 1998
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Revenues :
License fees $ 518,000 $ 688,000
Services 1,319,000 -
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Total Revenues 1,837,000 688,000
Operating expenses :
Cost of license fees 274,000 265,000
Cost of services 892,000 -
Sales and marketing 1,733,000 998,000
General and administrative 827,000 688,000
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Total operating expenses 3,726,000 1,951,000
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Loss from operations (1,889,000) (1,263,000)
Interest and other income(expense) (239,000) 20,000
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Net loss $ (2,128,000) $(1,243,000)
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2
Actuate Holding B.V.
Condensed Consolidated Statements of Cash Flows
(unaudited)
January 1, 1999 to January 1, 1998 to
June 18, 1999 June 30, 1998
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Operating activities:
Net loss $(2,128,000) $(1,243,000)
Adjustments to reconcile net loss to net cash
(used in) provided by operating activities:
Depreciation 18,000 25,000
Changes in operating assets and liabilities:
Accounts receivable 479,000 36,000
Prepaid expenses and other assets (61,000) 34,000
Accounts payable 508,000 183,000
Accrued compensation 142,000 -
Deferred revenue (26,000) 53,000
Accrued interest payable 16,000 125,000
Short term debt (206,000) 70,000
Accrued expenses and other liabilities 992,000 327,000
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Net cash used in operating activities (266,000) (390,000)
Investing activities:
Purchase of equipment (11,000) (22,000)
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Net cash used in investing activities (11,000) (22,000)
Financing activities:
Net change in shareholder loans (396,000) 285,000
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Net cash provided by financing activities (396,000) 285,000
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Net increase in cash (673,000) (127,000)
Translation adjustment 612,000 23,000
Cash and cash equivalents at beginning of period 277,000 165,000
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Cash and cash equivalents at end of period $ 216,000 $ 61,000
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3