EX-99.1 2 ihh_8kex99-1.txt RESTATED BALANCE SHEET EXHIBIT 99.1 INTEGRATED HEALTHCARE HOLDINGS, INC. CONSOLIDATED BALANCE SHEET March 31, 2008 (amounts in 000's, except par value) As filed As restated --------- --------- ASSETS Current assets: Cash and cash equivalents $ 3,141 $ 3,141 Restricted cash 20 20 Accounts receivable, net of allowance for doubtful accounts of $14,383 57,990 57,482 Inventories of supplies, at cost 5,853 5,853 Due from governmental payers 4,877 4,877 Prepaid insurance 721 721 Other prepaid expenses and current assets 5,811 5,811 --------- --------- Total current assets 78,413 77,905 Property and equipment, net 56,917 56,917 Debt issuance costs, net 759 759 --------- --------- Total assets $ 136,089 $ 135,581 ========= ========= LIABILITIES AND STOCKHOLDERS' DEFICIENCY Current liabilities: Revolving line of credit $ 9,879 $ -- Debt, current -- 95,579 Accounts payable 46,749 46,681 Accrued compensation and benefits 14,701 14,701 Due to governmental payers 1,690 1,690 Accrued insurance retentions 12,332 12,332 Other current liabilities 5,781 5,781 --------- --------- Total current liabilities 91,132 176,764 Debt, non current 85,700 -- Capital lease obligations, net of current portion of $406 6,375 6,375 Minority interest in variable interest entity 1,150 1,150 --------- --------- Total liabilities 184,357 184,289 --------- --------- Commitments and contingencies Stockholders' deficiency: Common stock, $0.001 par value; 400,000 shares authorized; 137,096 shares issued and outstanding, respectively 137 137 Additional paid in capital 56,148 56,148 Accumulated deficit (104,553) (104,993) --------- --------- Total stockholders' deficiency (48,268) (48,708) --------- --------- Total liabilities and stockholders' deficiency $ 136,089 $ 135,581 ========= =========