COMPREHENSIVE REPORT ******************************************************************************* COPYRIGHT 2002 DUN & BRADSTREET INC. - PROVIDED UNDER CONTRACT FOR THE EXCLUSIVE USE OF SUBSCRIBER ATTN: COMPREHENSIVE REPORT DUNS: 80-473-5132 GORMAN MANUFACTURING COMPANY, INC FINANCIAL STRESS CLASS: 3 CREDIT SCORE CLASS: 5 492 KOLLER STREET AND BRANCH(ES) OR DIVISION(S) KEY SAN FRANCISCO CA 94110 ============================= TEL: 650 555-0000 LOWEST RISK HIGHEST RISK 1 2 3 4 5 SIC: 27 52 LINE OF BUSINESS: COMMERCIAL PRINTING YEAR STARTED: 1965 CONTROL DATE: 1965 DATE PRINTED: AUG 09 2002 LESLIE SMITH =============================================================================== EXECUTIVE SUMMARY - The Financial Stress Class of 3 for this company shows that during the previous year, firms with this classification had a failure rate of 2.65% (265 per 10,000), which is 3.31 times higher than the national average. - The Credit Score Class of 5 for this company shows that during the previous year, 60.5% of the firms with this classification paid one or more bills severely delinquent, which is 3.64 times higher than the national average. - Subject company pays its bills an average 75 days beyond terms. - Subject company's industry pays its bills an average 9 days beyond terms. - Subject company pays its bills slower than the average for its industry. - Operations are profitable. - Special events are reported for this business. - UCC filing(s) are reported for this business. - Financing is secured. - Under present management control 37 years. - Evidence of open Suit(s), Lien(s) and Judgment(s) in the D&B database. - History is clear. =============================================================================== CREDIT CAPACITY SUMMARY D&B Rating: -- Payment Activity (based on 228 experiences): Average High Credit: $63,265 # of Employees Highest Credit: $2,000,000 Total: 110 Total Highest Credits: $6,193,000 (100 Here) As of 12/31/00 Worth: $3,160,644 Working Capital: $1,351,002 =============================================================================== SPECIAL EVENTS 07/26/02 On Mar 26, 2001 the subject experienced a fire due to an earthquake. According to Leslie Smith, president, damages amounted to $35,000 which were fully covered by their insurance company. The business was closed for two days while employees settled personal matters. =============================================================================== FINANCIAL STRESS SUMMARY The Financial Stress Model predicts the likelihood of a firm ceasing business without paying all creditors in full, or reorganizing or obtaining relief from creditors under state/federal law over the next 12 months. Scores were calculated using a statistically valid model derived from D&B's extensive data files. Financial Stress Class: 3 (Highest Risk: 5; Lowest Risk: 1) Incidence of Financial Stress Among Companies with this Classification: 2.65% (265 per 10,000) Incidence of Financial Stress: 0.80% (80 per 10,000) - National Average Financial Stress National Percentile: 5 (Highest Risk: 1; Lowest Risk: 100) Financial Stress Score: 1339 (Highest Risk: 1,001; Lowest Risk: 1,850) The Financial Stress Class for this company is based on the following factors: - Payment experiences exist for this firm which are greater than 60 days past due. - 29% of trade experiences indicate slow payment(s) are present. - Payment information indicates negative payment comments. - Evidence of open Suit(s), Lien(s) and Judgment(s) in the D&B database. - D&B files indicate a net worth of $3,160,644. - Age of financial statement suggests potential higher risk of financial stress. - Age or date entered in the D&B files indicates lower risk. - Current liabilities to net worth suggests potential higher risk of financial stress. Notes: - The Financial Stress Class indicates that this firm shares some of the same business and financial characteristics of other companies with this classification. It does not mean the firm will necessarily experience financial stress. - The Incidence of Financial Stress shows the percentage of firms in a given Class that discontinued operations over the past year with loss to creditors. The Incidence of Financial Stress - National Average represents the national failure rate and is provided for comparative purposes. - The Financial Stress National Percentile reflects the relative ranking of a company among all scorable companies in D&B's file. - The Financial Stress Score offers a more precise measure of the level of risk than the Class and Percentile. It is especially helpful to customers using a scorecard approach to determining overall business performance. - All Financial Stress Class, Percentile, Score and Incidence statistics are based on 1997. =============================================================================== FINANCIAL STRESS NORMS National Norms for Companies in the Same ... Percentile - Region (PACIFIC) 43 - Industry: MANUFACTURING 58 - Employee Range (100-499) 78 - Years in Business Range (26+) 76 - Subject Company 5 Key Comparisons The subject company has a Financial Stress Percentile that shows: - Higher risk than other companies in the same region. - Higher risk than other companies in the same industry. - Higher risk than other companies in the same employee size range. - Higher risk than other companies with a comparable number of years in business. =============================================================================== CREDIT SCORE SUMMARY The Credit Score Class predicts the likelihood of a firm paying in a severely delinquent manner (90+ Days Past Terms) over the next twelve months. It was calculated using statistically valid models and the most recent payment information in D&B's files. Credit Score Class: 5 Incidence of Delinquent Payment Among Companies with this Classification: 60.50% Percentile: 2 The Credit Score Class for this company is based on the following factors: - 29% of trade experiences indicate slow payment(s) are present. - Payment experiences exist for this firm which are greater than 60 days past due. - Payment information indicates negative payment comments. - Evidence of open Suit(s), Lien(s) and Judgment(s) in the D&B database. - Control age or date entered in D&B files indicates lower risk. - D&B files indicate a net worth for this firm of $3,160,644. - Quick ratio is 0.6. Notes: - The Incidence of Delinquent Payment is the percentage of companies with this classification that were reported 90 days past due or more by creditors. The calculation of this value is based on an inquiry weighted sample. - The Percentile ranks this firm relative to other businesses. For example, a firm in the 80th percentile has a lower risk of paying in a severely delinquent manner than 79% of all scorable companies in D&B's files. =============================================================================== CREDIT SCORE NORMS National Norms for Companies in the Same ... Percentile - Region (PACIFIC) 49 - Industry: MANUFACTURING 51 - Employee Range (100-499) 54 - Years in Business Range (26+) 72 - Subject Company 2 Key Comparisons The subject company has a Credit Score Percentile that shows: - Higher risk than other companies in the same region. - Higher risk than other companies in the same industry. - Higher risk than other companies in the same employee size range. - Higher risk than other companies with a comparable number of years in business. =============================================================================== PAYMENT TRENDS PAYDEX scores below are based on dollar weighted trade in most recent 12 mos. '00 '00 '01 '01 '01 '01 '01 '01 '02 '02 '02 '02 '02 '02 '02 '02 SEP DEC MAR JUN SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG FIRM 55 53 51 49 42 42 42 40 40 38 36 36 34 34 35 35 Industry Quartiles ---------- Upper 79 79 79 79 79 79 79 79 Median 74 73 73 72 73 73 73 74 Lower 65 65 63 63 64 64 64 65 Industry PAYDEX based on: KEY TO PAYDEX SCORES: SIC: 2752 79 2 Days Beyond Terms 1,053 Firms 73 11 Days Beyond Terms 34 78 Days Beyond Terms =============================================================================== SUMMARY OF PAYMENT HABITS Dollar Range Comparisons: Suppliers That Number of Total % of Dollars Extend Credit of... Experiences: Amount Within Terms # $ % OVER $100,000 11 4,400,000 25 $50,000 - 99,999 9 580,000 34 $15,000 - 49,999 16 405,000 49 $ 5,000 - 14,999 20 137,500 44 $ 1,000 - 4,999 19 37,000 24 Under 1,000 18 7,900 16 =============================================================================== PAYMENT ANALYSIS BY INDUSTRY There are 228 payment experiences in D&B's file for the most recent 12 months, with 33 experiences reported during the last three month period. Total Dollar Highest Within Slow Slow Slow Slow Recd Amount Credit Terms 1-30 31-60 61-90 91+ # $ $ --- % of dollar amount --- Total in D&B's File 228 6,193,000 2,000,000 Industry Misc business service 5 19,500 15,000 0 0 13 87 0 Misc business credit 3 302,500 200,000 1 0 99 0 0 Misc equipment rental 3 305,000 200,000 34 0 0 66 0 Personal credit 3 121,000 100,000 17 83 0 0 0 Whol electrical equip 3 51,000 40,000 99 1 0 0 0 Whol industrial suppl 3 3,050 2,500 2 0 16 82 0 Mfg telephone equip 2 2,050,000 2,000,000 0 2 0 98 0 Nonclassified 2 1,020,000 1,000,000 98 0 2 0 0 Custom programming 2 270,000 250,000 7 0 93 0 0 Mfg semiconductors 2 125,000 75,000 40 0 0 60 0 Whol metal 2 70,000 50,000 0 71 0 29 0 Whol lumber/millwork 2 40,500 40,000 0 99 0 1 0 Ret mail-order house 2 35,500 35,000 51 0 0 0 49 Mechanical contractor 2 27,500 20,000 73 0 0 27 0 Business consulting 2 30,000 20,000 33 0 67 0 0 Ret computer/software 2 3,000 2,500 17 41 0 0 42 Misc communictns svcs 2 3,000 2,500 0 17 0 83 0 Mfg misc metal prdts 2 3,500 2,500 29 71 0 0 0 Electrical contractor 2 1,500 1,000 0 0 0 100 0 Natural gas distrib 1 250,000 250,000 0 100 0 0 0 Mfg distilled liquor 1 100,000 100,000 0 0 0 100 0 Whol furniture 1 100,000 100,000 0 0 0 100 0 Mfg plastics/resins 1 80,000 80,000 0 50 0 50 0 Trucking non-local 1 75,000 75,000 100 0 0 0 0 Ret misc merchandise 1 75,000 75,000 100 0 0 0 0 Computer system desgn 1 75,000 75,000 0 0 100 0 0 Whol durable goods 1 50,000 50,000 0 0 100 0 0 Whol plumb/hydronics 1 40,000 40,000 100 0 0 0 0 Employment agency 1 35,000 35,000 0 0 50 0 50 Misc auto repair 1 30,000 30,000 100 0 0 0 0 Single family homes 1 20,000 20,000 0 0 100 0 0 Whol computers/softwr 1 15,000 15,000 100 0 0 0 0 Misc computer service 1 15,000 15,000 0 100 0 0 0 Motion picture svcs 1 10,000 10,000 0 0 0 100 0 Mfg spirits 1 10,000 10,000 50 50 0 0 0 Real estate agent/mgr 1 10,000 10,000 0 0 0 100 0 Whol medical equip 1 7,500 7,500 0 0 0 100 0 Theatrical producer 1 7,500 7,500 100 0 0 0 0 Hvy const eqpt rental 1 7,500 7,500 100 0 0 0 0 State commercial bank 1 7,500 7,500 0 0 0 100 0 Accounting services 1 5,000 5,000 0 0 0 100 0 College/university 1 5,000 5,000 0 0 0 100 0 Whol office supplies 1 5,000 5,000 100 0 0 0 0 Help supply service 1 5,000 5,000 0 0 100 0 0 Whol roof/side/insul 1 5,000 5,000 100 0 0 0 0 Whol brick/stone 1 5,000 5,000 0 100 0 0 0 Utility construction 1 5,000 5,000 0 0 0 100 0 Mfg blowers/fans 1 5,000 5,000 0 0 0 100 0 Mfg misc plastic prdt 1 5,000 5,000 100 0 0 0 0 Mfg signs/ad specltys 1 2,500 2,500 100 0 0 0 0 Mfg elect. components 1 2,500 2,500 0 0 100 0 0 Whol chemicals 1 2,500 2,500 0 0 50 50 0 Special trade work 1 2,500 2,500 0 0 50 0 50 Mfg dog/cat food 1 2,500 2,500 100 0 0 0 0 Whol electronic parts 1 2,500 2,500 0 0 100 0 0 Whol nondurable goods 1 1,000 1,000 0 0 0 0 100 Advertising agency 1 1,000 1,000 0 0 0 100 0 Whol appliances 1 750 750 0 0 100 0 0 Periodical-print/publ 1 500 500 0 0 0 100 0 Lcl truck-w/o storage 1 500 500 0 0 0 100 0 Land conservation mgt 1 500 500 0 0 0 100 0 Whol jewelry 1 500 500 0 100 0 0 0 Whol refrig equip 1 500 500 0 0 0 100 0 Management consulting 1 250 250 100 0 0 0 0 Adjust/collect svcs 1 250 250 0 0 0 0 100 Insurance agent 1 100 100 0 0 0 0 100 Mfg computers 1 0 0 0 0 0 0 0 OTHER PAYMENT CATEGORIES: Cash Experiences 0 0 Paying Record Unknown 15 93,100 Unfavorable Comments 14 532,500 Placed for Collection with D&B 0 0 other 105 N/A Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed. Indications of slowness can be the result of disputes over merchandise, skipped invoices, etc. =============================================================================== PUBLIC FILINGS SUMMARY The following data includes both open and closed filings found in D&B's database on the subject company. Most Recent Record Type # Filing Date Bankruptcy Proceedings 0 - Judgments 1 08/13/1996 Liens 17 12/14/2001 Suits 2 08/13/1996 UCC's 4 08/01/2001 =============================================================================== PUBLIC FILINGS DETAIL The following data is for information purposes only and is not the official record. Certified copies can only be obtained from the official source. ------------------------------------------------------------------------------- * * * JUDGMENT(S) * * * ------------------------------------------------------------------------------- DOCKET NO.: 94CV321 JDGMT AWARD: $100 STATUS: Unsatisfied JDGMT TYPE: Default judgment DATE STATUS ATTAINED: 08/13/1996 AGAINST: GORMAN MANUFACTURING COMPANY, DATE ENTERED: 08/13/1996 INC LATEST INFO COLLECTED: 03/14/2001 IN FAVOR OF: JOHN SMITH WHERE FILED: CONTRA COSTA COUNTY SUPERIOR COURT/MARTINEZ, MARTINEZ, CA ------------------------------------------------------------------------------- * * * SUIT(S) * * * ------------------------------------------------------------------------------- DOCKET NO.: 96CV123 SUIT AMOUNT: $1,000 STATUS: Pending PLAINTIFF: JOHN SMITH DATE STATUS ATTAINED: 08/13/1996 DEFENDANT: GORMAN MANUFACTURING COMPANY, DATE FILED: 08/13/1996 INC LATEST INFO COLLECTED: 02/28/2001 CAUSE: Civil Rights WHERE FILED: CONTRA COSTA COUNTY SUPERIOR COURT/MARTINEZ, MARTINEZ, CA ------------------------------------------------------------------------------- DOCKET NO.: SC19951218 SUIT AMOUNT: $20,000 STATUS: Pending PLAINTIFF: DUN & BRADSTREET, BETHLEHEM, PA DATE STATUS ATTAINED: 12/18/1995 DEFENDANT: GORMAN MANUFACTURING COMPANY, DATE FILED: 12/18/1995 INC LATEST INFO COLLECTED: 03/12/2001 CAUSE: Breach of contract WHERE FILED: KERN COUNTY MUNICIPAL COURT / WEST DISTRICT, BAKERSFIELD, CA ------------------------------------------------------------------------------- * * * LIEN(S) * * * ------------------------------------------------------------------------------- A lienholder can file the same lien in more than one filing location. The appearance of multiple liens filed by the same lienholder against a debtor may be indicative of such an occurrence. ------------------------------------------------------------------------------- CASE NO.: IN5678 TYPE: State Tax STATUS: Open FILED BY: State of Ca-Test match Code DATE STATUS ATTAINED: 12/14/2001 AGAINST: Gorman Manufacturing Company Inc DATE FILED: 12/14/2001 WHERE FILED: LOS ANGELES COUNTY RECORDER'S LATEST INFO RECEIVED: 12/14/2001 OFFICE, NORWALK, CA ------------------------------------------------------------------------------- CASE NO.: inn1234 AMOUNT: $100 STATUS: Open TYPE: State Tax DATE STATUS ATTAINED: 12/14/2001 FILED BY: State of CA- test Mtch Code DATE FILED: 12/14/2001 (unmatched thru SO) LATEST INFO RECEIVED: 12/14/2001 AGAINST: Gorman Manufacturing Company, Inc WHERE FILED: LOS ANGELES COUNTY RECORDER'S OFFICE, NORWALK, CA ------------------------------------------------------------------------------- CASE NO.: IN1234 AMOUNT: $100 STATUS: Open TYPE: State Tax DATE STATUS ATTAINED: 12/14/2001 FILED BY: State of Ca-Test Match Code DATE FILED: 12/14/2001 AGAINST: Gorman Manufacturing Company, Inc LATEST INFO RECEIVED: 12/14/2001 WHERE FILED: LOS ANGELES COUNTY RECORDER'S OFFICE, NORWALK, CA ------------------------------------------------------------------------------- CASE NO.: inn5678 TYPE: State Tax STATUS: Open FILED BY: STATE OF CA- TET MTCH CODE (THRU DATE STATUS ATTAINED: 12/14/2001 SO) DATE FILED: 12/14/2001 AGAINST: GORMAN MANUFACTURING COMPANY, INC LATEST INFO RECEIVED: 12/14/2001 WHERE FILED: LOS ANGELES COUNTY RECORDER'S OFFICE, NORWALK, CA ------------------------------------------------------------------------------- DOCKET NO.: test1 AMOUNT: $10 STATUS: Released TYPE: County Tax DATE STATUS ATTAINED: 08/22/2001 FILED BY: Test Record DATE FILED: 06/07/2001 AGAINST: Groman Manufacturing Co Inc LATEST INFO COLLECTED: 10/29/2001 WHERE FILED: ORLEANS PARISH DISTRICT COURT, NEW ORLEANS, LA ------------------------------------------------------------------------------- DOCKET NO.: s0123 AMOUNT: $10 STATUS: Released TYPE: State Tax DATE STATUS ATTAINED: 08/22/2001 FILED BY: test 3 DATE FILED: 06/07/2001 AGAINST: gorman manufacturing co inc LATEST INFO COLLECTED: 10/29/2001 WHERE FILED: ORLEANS PARISH DISTRICT COURT, NEW ORLEANS, LA ------------------------------------------------------------------------------- DOCKET NO.: 01-1111 AMOUNT: $10 STATUS: Released TYPE: State Tax DATE STATUS ATTAINED: 08/22/2001 FILED BY: test 2 DATE FILED: 06/01/2001 AGAINST: Gorman Manufacturing co inc LATEST INFO COLLECTED: 10/29/2001 WHERE FILED: ORLEANS PARISH DISTRICT COURT, NEW ORLEANS, LA ------------------------------------------------------------------------------- BOOK/PAGE: 55/32 AMOUNT: $10 STATUS: Released TYPE: County Tax DATE STATUS ATTAINED: 08/02/2001 FILED BY: test 4 DATE FILED: 06/01/2001 AGAINST: gorman manufacturing co inc LATEST INFO COLLECTED: 10/29/2001 WHERE FILED: ORLEANS PARISH DISTRICT COURT, NEW ORLEANS, LA ------------------------------------------------------------------------------- FILING NO.: 1145279 TYPE: State Tax STATUS: Open FILED BY: arizona dept of revenue DATE STATUS ATTAINED: 10/30/2000 AGAINST: gorman manufacturing test DATE FILED: 10/30/2000 WHERE FILED: ORLEANS PARISH DISTRICT COURT, LATEST INFO RECEIVED: 06/22/2001 NEW ORLEANS, LA ------------------------------------------------------------------------------- FILING NO.: 1143348 TYPE: State Tax STATUS: Open FILED BY: az dept of economic security DATE STATUS ATTAINED: 10/24/2000 AGAINST: gorman manufacturing DATE FILED: 10/24/2000 WHERE FILED: ORLEANS PARISH DISTRICT COURT, LATEST INFO RECEIVED: 06/22/2001 NEW ORLEANS, LA ------------------------------------------------------------------------------- * * * UCC FILING(S) * * * ------------------------------------------------------------------------------- COLLATERAL: All Inventory including proceeds and products - All Account(s) including proceeds and products - All Chattel paper including proceeds and products - All General intangibles(s) including proceeds and products - and OTHERS FILING NO: 000730 DATE FILED: 07/31/2001 TYPE: Original LATEST INFO RECEIVED: 09/13/2001 SEC. PARTY: PEOPLE'S SAVINGS BANK OF FILED WITH: SECRETARY OF BROCKTON, NEW BEDFORD, MA STATE/UCC DIVISION, DEBTOR: TARSAGIAN VICTORIA S. RI ------------------------------------------------------------------------------- COLLATERAL: All Inventory including proceeds and products - All Accounts receivable including proceeds and products - All Fixtures including proceeds and products FILING NO: 123456 DATE FILED: 10/05/1998 TYPE: Original LATEST INFO RECEIVED: 04/11/2001 SEC. PARTY: ABC COMPANY FILED WITH: SECRETARY OF DEBTOR: GORMAN MANUFACTURING COMPANY, STATE/UCC DIVISION, INC CA ------------------------------------------------------------------------------- COLLATERAL: Equipment - Fixtures FILING NO: 000758 DATE FILED: 08/01/2001 TYPE: Original LATEST INFO RECEIVED: 09/13/2001 SEC. PARTY: WELLS FARGO FINANCIAL, EAST FILED WITH: SECRETARY OF PROVIDENCE, RI STATE/UCC DIVISION, DEBTOR: REED ROBERT RI ------------------------------------------------------------------------------- COLLATERAL: Specified Equipment and products FILING NO: 222222 DATE FILED: 10/06/1998 TYPE: Original LATEST INFO RECEIVED: 04/11/2001 SEC. PARTY: XYZ COMPANY FILED WITH: SECRETARY OF DEBTOR: GORMAN MANUFACTURING COMPANY, STATE/UCC DIVISION, INC CA ------------------------------------------------------------------------------- There are additional suits, liens, or judgments in D&B'S file on this company available by contacting 1-800-234-3867. The public record items contained in this report may have been paid, terminated, vacated or released prior to the date this report was printed. =============================================================================== BUSINESS BACKGROUND HISTORY ---------------------------------------------------------------------- The Corporate Details provided below may have been submitted by the management of the subject business and may not have been verified with the government agency which records such data. BUSINESS TYPE: Corporation - DATE INCORPORATED: 05/21/1965 Profit STATE OF INCORP: California AUTH SHARES-COMMON: 200 ---------------------------------------------------------------------- 07/26/02 LESLIE SMITH, PRESIDENT KEVIN J HUNT, SEC-TREAS DIRECTOR(S): THE OFFICER(S) and Corporate details under investigation. Corporate details under investigation. Business started 1965 by Leslie Smith and Kevin J Hunt. LESLIE SMITH born 1926. Graduated from the University of California, Los Angeles, CA, in June 1947 with a BS degree in Business Management. 1947-65 general manager for Raymor Printing Co, San Francisco, CA. 1965 formed subject with Kevin J Hunt. KEVIN J HUNT born 1925. Graduated from Northwestern University, Evanston, IL in June 1946. 1946-1965 was general manager for Raymor Printing Co, San Francisco, CA. 1965 formed subject with Leslie Smith. AFFILIATE: The following is related through common principals, management and/or ownership. Gorman Affiliate Ltd, San Francisco, CA, started 1965. Operates as commercial printer. Intercompany relations: None reported by management. OPERATIONS 07/26/02 Commercial printing specializing in advertising posters, catalogs, circulars and coupons. ADDITIONAL TELEPHONE NUMBER(S): Facsimile (Fax) 512 794-7670. Has 200 account(s). Net 30 days. Sells to commercial concerns. Nonseasonal. EMPLOYEES: 110 which includes partners. 100 employed here. FACILITIES: Owns premises in a one story cinder block building. LOCATION: Central business section on well traveled street. BRANCHES: Subject maintains a branch at 1073 Boyden Road, Los Angeles, CA. OTHER CORPORATE DETAILS STATE ID NO: testcase102 =============================================================================== BANKING RELATIONSHIPS REPORTED (05-01) Balances average in a low 7 figure amount. At Dec 31 2000, a low 7 figure was outstanding under short-term lines of credit which are secured by accounts receivable and inventory. =============================================================================== FINANCIAL SUMMARY KEY BUSINESS RATIOS Based on Fiscal Consolidated Statement Dated December 31, 2000 (Industry Norms Based on 24 Establishments) Profitability Short-Term Efficiency Utilization % Solvency (%) (%) Return Return Curr Quick Assets/ Sales/ Total Liabs/ on Sales on Net Ratio Ratio Sales Net working Net Worth Worth Capital Firm 3.3 20.6 1.3 0.6 47.3 14.6 194.4 Industry 3.5 13.5 1.5 1.1 51.1 9.5 155.9 Median Industry 3 2 3 4 2 1 3 Quartile FINANCIAL INFORMATION 07/26/02 Fiscal Fiscal Fiscal Dec 31 1998 Dec 31 1999 Dec 31 2000 Curr Assets 5,735,650 6,022,432 6,383,778 Curr Liabs 4,521,811 4,747,902 5,032,776 Current Ratio 1.26 1.27 1.27 Working Capital 1,213,839 1,274,530 1,351,002 Other Assets 2,623,143 2,754,300 2,920,416 Worth 2,838,982 2,980,930 3,160,644 Sales 17,685,297 18,569,562 19,683,736 Long Term Liab 998,000 1,047,900 1,110,774 Net Profit (Loss) 584,077 613,280 650,077 Fiscal statement dated DEC 31 2000: Cash $ 829,185 Accts Pay $ 2,845,063 Accts Rec 2,020,011 Bank Loans 1,012,830 Inventory 1,670,307 Notes Pay 445,200 Other Curr Assets 1,864,275 Other Curr Liabs 729,683 --------------- --------------- Curr Assets 6,383,778 Curr Liabs 5,032,776 Fixt & Equip 2,212,435 L.T. Liab-Other 1,110,774 Other Assets 707,981 COMMON STOCK 50,000 RETAINED EARNINGS 3,110,644 --------------- --------------- Total Assets 9,304,194 Total 9,304,194 From JAN 01 2000 to DEC 31 2000 annual sales $19,683,736; cost of goods sold $15,837,499. Gross profit $3,846,237; operating expenses $3,196,160. Operating income $650,077. Net income $650,077. Submitted MAY 18 2001 by Leslie Smith, president. Accountant: Johnson, Jordan & Jones CPAs. ACCOUNTANTS OPINION: A review of the accountant's opinion indicates the financial statements meet generally accepted accounting principles and that the audit contains no qualifications. --0-- . ...... BALANCE SHEET EXPLANATIONS ...... . OTHER CURRENT ASSETS: Consist of prepaid expenses and a loan receivable. OTHER ASSETS: Consists of deposits. BANK LOANS: Due to the bank at prime interest rate, are secured by accounts receivable and inventory and will mature in 3 years. NOTES PAYABLE: Due on printing equipment. OTHER CURRENT LIABILITIES: Consist of accrued expenses and taxes. LONG TERM DEBT: Consists of the long term portion of the equipment note. On July 24, 2002, Test Test, confirmed company name, address, principals, annual sales and operational information using Dun & Bradstreet's Internet-based update method (eUpdate) at www.dnb.com. =============================================================================== CUSTOMER SERVICE If you need any additional information, or have any questions regarding this report, please call our Customer Service Center at (800) 234-3867 from anywhere within the U.S. From outside the U.S., please call your local D&B office. END OF COMPREHENSIVE REPORT