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<br />.
<br />. BERMELLO, AJAMIL & PARTNERS, INC.
<br />. AND SUBSIDIARY
<br />.
<br />. CONSOLIDATED BALANCE SHEETS
<br />. DECEMBER 31 t
<br />.
<br />. ASSETS 2006 2005
<br />.
<br />. CURRENT ASSETS
<br />. Cash and cash equivalents $ 341,536 $ 56,232
<br />. Contract receivables, net 13,404,481 12,808,326
<br />. Other receivables 269,985 3,000
<br />. Costs and estimated earnings in excess
<br />. of billings on uncompleted contracts 1,072,436 429,755
<br />Due from stockholders 60,000 60,000
<br />. Other current assets 143.658 263.891
<br />.
<br />. TOTAL CURRENT ASSETS 15,292,096 13t621,204
<br />. PROPERTY AND EQUIPMENT, net 1,737,279 It245,083
<br />.
<br />. DUE FROM RELATED PARTIES 1,347,331 2,754,466
<br />. OTHER ASSETS 81.133 122.959
<br />.
<br />. TOTAL ASSETS S 18.457.839 $ 17.743.712
<br />.
<br />. LIABILITIES AND STOCKHOLDERS' EQUITY
<br />. CURRENT LIABILITIES
<br />.
<br />. Current maturities of obligations under capital leases $ $ 37,40 I
<br />Current portion of long-term debt 129,547 7,661
<br />. Line of credit 999,951
<br />. Short-term debt 65,267
<br />. Accounts payable and accrued expenses 7,844,941 7,166,6]2
<br />. Billings in excess of costs and estimated
<br />. earnings on uncompleted contracts 1,443,000 2,997,433
<br />. Provision for losses on contracts 220.000 220.000
<br />. TOTAL CURRENT LIABILITIES 9,702t755 11,429,058
<br />.
<br />. LONG-TERM DEBT, less current portion 146,034 7,130
<br />. LONG-TERM LINE OF CREDIT 749,951
<br />.
<br />. DUE TO RELATED PARTIES 255.741 255.74 ]
<br />. TOTAL LIABILITIES 10,854,481 11,691,929
<br />.
<br />. COMMITMENTS AND CONTINGENCIES (NOTE 9)
<br />.
<br />. STOCKHOLDERS' EQUITY 7.603.358 6.051.783
<br />. TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
<br />. S ] 8.457.839 S 17.743.712
<br />. The accompanying notes are an integral part of these consolidated financial statements.
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