EXHIBIT 99.2 PERSISTENCE SOFTWARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) (UNAUDITED) AS OF SEPTEMBER 30, 2003 BEFORE AFTER FINANCING FINANCING ------------ ------------ ASSETS Current assets: Cash and cash equivalents $ 5,091 $ 6,154 Accounts receivable, net 1,600 1,600 Prepaid expenses and other current assets 383 383 ------------ ------------ Total current assets 7,074 8,137 Property and equipment, net 134 134 Purchased intangibles, net 69 69 Other assets 53 53 ------------ ------------ Total assets $ 7,330 $ 8,393 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 328 $ 328 Accrued compensation and related benefits 527 527 Other accrued liabilities 1,338 1,413 Deferred revenues net of long-term portion 2,395 2,395 Current portion of long-term obligations 628 628 ------------ ------------ Total current liabilities 5,216 5,291 Long-term liabilities: Long-term portion of deferred revenues 224 224 Long-term obligations 25 25 ------------ ------------ Total long-term liabilities 249 249 ------------ ------------ Total liabilities 5,465 5,540 ------------ ------------ Stockholders' equity: Common stock 66,104 67,092 Deferred stock compensation (21) (21) Accumulated deficit (64,216) (64,216) Accumulated other comprehensive loss (2) (2) ------------ ------------ Total stockholders' equity 1,865 2,853 ------------ ------------ Total liabilities and stockholders' equity $ 7,330 $ 8,393 ============ ============