EX-99 3 nuhc_ex1-1.txt EXHIBIT 1-1 Exhibit 1-1 FIRSTENERGY VENTURES CORP. Consolidated Balance Sheet (Unaudited) March 31, 2004 -------------------------------------- (In Thousands ASSETS CURRENT ASSETS: Cash and cash equivalents $ - Receivables: Associated companies 24,412 Other 2,688 Notes receivable from associated companies 49,242 Material and supplies 539 Prepayments and other 3,581 -------- 80,462 -------- PROPERTY, PLANT AND EQUIPMENT: In service 204,003 Less: Accumulated provision for depreciation 23,983 -------- 180,020 Construction work in progress - -------- 180,020 -------- INVESTMENTS: Other 19,708 -------- 19,708 -------- DEFERRED CHARGES: Goodwill 67 Other 2,960 -------- 3,027 -------- TOTAL ASSETS $ 283,217 ======== LIABILITIES & STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Currently payable long-term debt $ 3,301 Notes payable to associated companies 4,213 Accounts payable Other 342 Associated companies 691 Accrued taxes 9,520 Accrued interest 731 Other 26 -------- 18,824 -------- CAPITALIZATION: Common stockholder's equity 114,898 Long-term debt 137,681 -------- 252,579 -------- DEFERRED CREDITS: Accumulated deferred income taxes 5,685 Other 6,129 -------- 11,814 -------- TOTAL LIABILITIES & CAPITALIZATION $ 283,217 ======== Exhibit 1-1 FIRSTENERGY VENTURES CORP. Consolidated Statement of Operations (Unaudited) ------------------------------------------------ (In Thousands) Three Months Ended March 31, 2004 -------------- REVENUES $ 8,681 EXPENSES: Fuel expense 1,165 Other operating expenses 3,443 Provision for depreciation and amortization 2,557 General taxes 24 ------ Total expenses 7,189 ------ INCOME BEFORE INTEREST & INCOME TAXES 1,492 NET INTEREST CHARGES: Interest expenses 2,257 Capitalized interest - ------ Net interest charges 2,257 ------ INCOME TAXES (321) ------ NET LOSS $ (444) ======