2005 Financials

All numbers in thousands

Income Statement

PERIOD ENDING

31-Dec-05

31-Dec-04

31-Dec-03

Total Revenue

164  

692  

439  

Cost of Revenue

141  

350  

321  

 

Gross Profit

22  

342  

118  

 

 

Operating Expenses

 

Research Development

-  

-  

-  

 

Selling General and Administrative

388  

482  

426  

 

Non Recurring

-  

-  

-  

 

Others

85  

-  

3  

 

 

 

Total Operating Expenses

-  

-  

-  

 

 

 

Operating Income or Loss

(451)

(140)

(311)

 

 

Income from Continuing Operations

 

Total Other Income/Expenses Net

-  

17  

-  

 

Earnings Before Interest And Taxes

(451)

(123)

(311)

 

Interest Expense

20  

16  

20  

 

Income Before Tax

(471)

(139)

(331)

 

Income Tax Expense

-  

-  

-  

 

Minority Interest

-  

-  

-  

 

 

 

Net Income From Continuing Ops

(471)

(139)

(331)

 

 

Non-recurring Events

 

Discontinued Operations

-  

-  

-  

 

Extraordinary Items

-  

-  

-  

 

Effect Of Accounting Changes

-  

-  

-  

 

Other Items

-  

-  

-  

 

 

Net Income

(471)

(139)

(331)

Preferred Stock And Other Adjustments

-  

-  

-  

 

Net Income Applicable To Common Shares

($471)

($139)

($331)

 

Balance Sheet

PERIOD ENDING

31-Dec-05

31-Dec-04

31-Dec-03

 

Assets

Current Assets

 

Cash And Cash Equivalents

-  

29  

12  

 

Short Term Investments

-  

-  

-  

 

Net Receivables

33  

159  

4  

 

Inventory

17  

81  

44  

 

Other Current Assets

9  

17  

88  

 

Total Current Assets

58  

286  

148  

Long Term Investments

-  

-  

-  

Property Plant and Equipment

4  

5  

9  

Goodwill

-  

-  

-  

Intangible Assets

-  

1  

1  

Accumulated Amortization

-  

-  

-  

Other Assets

-  

-  

-  

Deferred Long Term Asset Charges

-  

-  

-  

 

Total Assets

63  

293  

157  

 

Liabilities

Current Liabilities

 

Accounts Payable

944  

539  

534  

 

Short/Current Long Term Debt

601  

541  

544  

 

Other Current Liabilities

-  

180  

48  

 

Total Current Liabilities

1,545  

1,260  

1,127  

Long Term Debt

-  

-  

-  

Other Liabilities

-  

-  

-  

Deferred Long Term Liability Charges

-  

-  

-  

Minority Interest

-  

-  

-  

Negative Goodwill

-  

-  

-  

 

Total Liabilities

1,545  

1,260  

1,127  

 

Stockholders' Equity

Misc Stocks Options Warrants

-  

-  

-  

Redeemable Preferred Stock

-  

-  

-  

Preferred Stock

-  

-  

-  

Common Stock

2,814  

2,806  

2,581  

Retained Earnings

(3,909)

(3,438)

(3,299)

Treasury Stock

-  

-  

-  

Capital Surplus

-  

-  

-  

Other Stockholder Equity

(386)

(335)

(252)

 

Total Stockholder Equity

(1,482)

(967)

(969)

 

Net Tangible Assets

($1,482)

($969)

($971)

Cash Flow

PERIOD ENDING

31-Dec-05

31-Dec-04

31-Dec-03

Net Income

(471)

(139)

(331)

 

Operating Activities, Cash Flows Provided By or Used In

Depreciation

2  

3  

3  

Adjustments To Net Income

-  

(17)

-  

Changes In Accounts Receivables

127  

(158)

13  

Changes In Liabilities

225  

148  

418  

Changes In Inventories

64  

(37)

(44)

Changes In Other Operating Activities

9  

73  

(57)

 

Total Cash Flow From Operating Activities

(45)

(127)

1  

 

Investing Activities, Cash Flows Provided By or Used In

Capital Expenditures

-  

-  

(2)

Investments

-  

-  

-  

Other Cashflows from Investing Activities

-  

-  

(0)

 

Total Cash Flows From Investing Activities

-  

-  

(2)

 

Financing Activities, Cash Flows Provided By or Used In

Dividends Paid

-  

-  

-  

Sale Purchase of Stock

8  

224  

260  

Net Borrowings

47  

(6)

(63)

Other Cash Flows from Financing Activities

-  

9  

(8)

 

Total Cash Flows From Financing Activities

54  

228  

188  

Effect Of Exchange Rate Changes

(52)

(83)

(176)

 

Change In Cash and Cash Equivalents

($42)

$17  

$11