INTEGRATED.COM, INC.
FINANCIAL STATEMENTS
November 30, 1999
Integrated.Com, Inc.
FINANCIAL STATEMENTS
TABLE OF CONTENTS
PAGE
INDEPENDENT AUDITOR'S REPORT 1
FINANCIAL STATEMENTS
BALANCE SHEET 2
STATEMENT OF OPERATIONS 3
STATEMENT OF STOCKHOLDERS' EQUITY 4
STATEMENT OF CASH FLOWS 5
NOTES TO FINANCIAL STATEMENTS 6-7
Davis & Ellsworth, LLP
Certified Public Accountants
Board of Directors
Integrated.Com, Inc.
Voorhees, New Jersey
We have audited the accompanying balance sheet of Integrated.Com, Inc.
(a development stage company), as of November 30, 1999, and the
related statements of operations, stockholders' equity andcash
flows from June 30, 1999 (date of inception) to November 30, 1999.
These financial statements are the responsibility of the
Company's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial position of
Integrated.Com, Inc. (a development stage company) at November 30,
1999 and the results of its operations and its cash flows from
June 30, 1999 (date of inception) to November 30, 1999 in
conformity with generally accepted accounting principles.
By:/s/Davis & Ellsworth, LLP
Davis & Ellsworth, LLP
December 15, 1999
1
Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
BALANCE SHEET
November 30, 1999
ASSETS
CURRENT ASSETS
Cash $ 0
TOTAL CURRENT ASSETS 0
$ 0
LIABILITIES AND STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value
authorized 25,000,000 shares; no shares
issued and outstanding at November 30, 1999 $ 0
Retained Earnings During Development Stage 0
TOTAL STOCKHOLDERS' EQUITY 0
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 0
See accompanying notes to financial statements.
2
Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
STATEMENT OF OPERATIONS
June 30, 1999 (Inception) to November 30, 1999
INCOME
Revenue $ 0
TOTAL INCOME 0
EXPENSES
General and Administrative 0
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 0
Provision for Income Taxes 0
NET INCOME (LOSS) $ 0
NET INCOME (L0SS)
PER SHARE - BASIC AND DILUTED $ 0.00
AVERAGE NUMBER OF SHARES OF
COMMON STOCK OUTSTANDING ZERO
See accompanying notes to financial statements.
3
Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
STATEMENT OF STOCKHOLDERS' EQUITY
November 30, 1999
Common Stock
Number Retained Earnings
of during Development
Shares Amount Stage
Issued for Cash
June 30, 1999 0.00 $ 0
Net Income June 30, 1999
(Inception) to
November 30, 1999 ______ ______ ________
Balance
November 30, 1999 0.00 $ 0 $ 0
See accompanying notes to financial statements.
4
Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
STATEMENT OF CASH FLOWS
June 30, 1999 (Inception) to November 30, 1999
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income $ 0
Net Cash (Used) In
Operating Activities 0
CASH FLOWS FROM INVESTING ACTIVITIES 0
CASH FLOWS FROM FINANCING ACTIVITIES 0
Net Increase in Cash 0
Cash June 30, 1999 $ 0
Cash November 30, 1999 $ 0
See accompanying notes to financial statements.
5
Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
NOTES TO FINANCIAL STATEMENTS
June 30, 1999 (Inception) to November 30, 1999
1. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
Organization and Nature of Business - Integrated.com, Inc. was
incorporated June 23, 1999 under the laws of the State of
Nevada. Integrated.com, Inc. was organized to engage in any lawful
activity. Integrated.com, Inc. currently has no operations and, in
accordance with SFAS V, is considered a development stage company.
Accounting Method - Integrated.com, Inc. records income and expenses
on the accrual method.
Estimates - The preparation of financial statements in
conformity with generally accepted accounting principles
requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of
revenue and expenses during the reporting period.
Income Taxes - Taxes are provided for using the liability
method of accounting in accordance with Statement of
Financial Accounting Standards No. 109 (SFAS #109)
"Accounting for Income Taxes." A deferred tax asset or
liability is recorded for all temporary differences between
financial and tax reporting. Deferred tax expense (benefit)
results from the net change during the year of deferred tax
assets and liabilities.
Income (Loss) Per Share - Net loss per share is provided in
accordance with Statement of Financial Accounting Standards
No. 128 (SFAS #128) "Earnings Per Share." Basic loss per
share is computed by dividing losses available to common
stockholders by the weighted average number of common shares
outstanding during the period. Diluted loss per share
reflects per share amounts that would have resulted if
dilutive common stock equivalents had been converted to
common stock. As of November 30, 1999, Integrated.com, Inc. had no
dilutive common stock equivalents such as stock options.
2. INCOME TAXES
There is no provision for income taxes for the period from
June 30, 1999 (inception) to November 30, 1999 due to zero net
income and no Nevada state income tax in the state of the
Company's domicile.
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Integrated.Com, Inc.
A DEVELOPMENT STAGE COMPANY
NOTES TO FINANCIAL STATEMENTS
June 30, 1999 (Inception) to November 30, 1999
(Continued)
3. STOCKHOLDERS' EQUITY
Common Stock - The authorized common stock of Integrated.com, Inc.
consists of 25,000,000 shares with a par value of $0.001 per share.
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