EX-2 3 hae-x23.txt EXHIBIT 2.3 EXHIBIT 2.3 Transfusion Technologies Corporation Consolidated Balance Sheet September 15, 2000
09/15/2000 ---------- ASSETS Current assets: Cash and cash equivalents $ 9,046,421 Accounts receivable, net of allowance for doubtful accounts of $34,500 at September 15, 2000 and December 31, 1999 159,279 Inventory 533,045 Prepaid and other current assets 524,559 ------------ Total current assets 10,263,304 ------------ Property and equipment 6,264,175 Less accumulated depreciation and amortization (3,022,707) ------------ Property and equipment, net 3,241,468 Other assets 14,390 ------------ Total assets 13,519,162 ------------ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 340,050 Accrued expenses 682,552 Deferred revenues 1,666,667 ------------ Total current liabilities 2,689,269 ------------ Mandatorily redeemable preferred stock, Series A Convertible 365,000 Mandatorily redeemable preferred stock, Series B Convertible 4,661,670 Mandatorily redeemable preferred stock, Series C Convertible 9,980,108 Mandatorily redeemable preferred stock, Series D Convertible 16,118,121 Mandatorily redeemable preferred stock, Series E Convertible 6,059,292 Mandatorily redeemable preferred stock 12,659,578 Stockholders' equity: Common stock 6,359 Additional paid-in capital 8,232 Accumulated Deficit (39,012,188) Accumulated other comprehensive loss (16,103) Less treasury stock 156 shares at cost at September 15, 2000 (176) ------------ Total stockholders' equity (39,013,876) ------------ 27 Total liabilities and stockholders' equity $ 13,519,162 ------------
Transfusion Technologies Corporation Consolidated Statement of Operations For the Nine Months Ending September 15, 2000
2000 ---- Net revenues 2,033,307 Operating expenses: Cost of goods sold 2,001,874 Research and development 2,944,085 Selling, General and administrative 6,343,766 ----------- Total operating expenses 11,289,725 Operating income (loss) (9,256,418) Interest income 676,460 Net loss $ (8,579,958)
28 Transfusion Technologies Corporation Consolidated Statement of Cash Flows For the nine months ended September 15, 2000
2000 ---- Cash flows from operating activities: Net loss $ (8,579,958) Adjustments to reconcile net loss to net cash used for operating activities: Depreciation and amortization 699,616 Changes in assets and liabilities: Accounts receivable, net (50,573) Inventory 313,105 Prepaid expenses and other current assets (447,871) Other assets 3,557 Accounts payable (340,937) Accrued expenses and other current liabilities (827,739) ------------ Net cash used for operating activities (9,230,800) Cash flows for investing activities: Purchases of property and equipment (1,843,113) ------------ Net cash used for investing activities (1,843,113) ------------ Cash flows from financing activities: Proceeds from issuance of common stock, net 8,310 Buy-back of preferred stock, net (28,126) Purchase of treasury stock (176) ------------ Net cash provided from financing activities (19,992) ------------ Currency translation adjustment (4,413) ------------ Net increase (decrease) in cash and cash equivalents (11,098,318) Cash and equivalents, beginning of period 20,144,739 Cash and equivalents, end of period $ 9,046,421 ============
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