Exhibit 99.1

New Century Companies and Subsidiaries

Pro Forma Combined Balance Sheets

June 30, 2009

(Unaudited)

	NCC		PAI
	June 30,		June 30,		Pro Forma			Pro Forma
	2009		2009		Adjustments			Combined
ASSETS
Current assets:
Cash	$	-	$	3,798	$	-		$	3,798
Contract and accounts receivable, net		11,906		146,791		-			158,697
Inventories		422,856		19,955		-			442,811
Costs in excess of billings		60,790		-		-			60,790
Other current assets		160,182		450		-			160,632
Deferred financing costs		283,433		-		-			283,433
Total current assets		939,167		170,994		-			1,110,161

Property and equipment, net		152,225		980,597		-			1,132,822
Deferred financing costs, net		113,862		-		-			113,862
Goodwill		-		-		3,188,374	(a)		3,378,910
	$	1,205,254	$	1,151,591	$	3,188,374		$	5,735,755

	NCC			PAI
	June 30,			June 30,			Pro Forma			Pro Forma
	2009			2009			Adjustments			Combined
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Bank overdraft	$	44,553		$	-		$	-		$	44,553
Accounts payable and accrued expenses		1,643,751			1,002,414			-			2,646,165
Dividends payable		500,550			-			-			500,550
Billings in excess of costs		84,402			-			-			84,402
Accrued payroll and related		-			1,320,523			-			1,320,523
Line of credit		-			50,047			-			50,047
Capital lease obligation, current		24,044			431,358			-			455,402
Derivative liability		4,080,953			-			-			4,080,953
Note payable to related party		-			20,000			-			20,000
Notes payable, current		-			262,445			-			262,445
CAMOFI convertible notes payable, net		2,008,662			-			-			2,008,662
CAMHZN convertible notes payable, net		660,369			-			-			660,369
Total current liabilities		9,047,284			3,086,787			-			12,134,071

Deferred tax liability		-			-			-			-
Capital lease obligation, net of current portion		-			203,178			-			203,178
Notes payable, net of current portion		-			-			500,000	(b)		500,000
Total liabilities		9,047,284			3,289,965			500,000			12,837,249

Stockholders deficit:
Series B preferred stock,$1 par value		-			-			-			-
Series C preferred stock,$1 par value		26,880			-			-			26,880
Series D preferred stock,$1 par value		291,000			-			-			291,000
Common stock, $1.00 par value		-			1,000			(1,000	)(c)		-
Common stock, $0.10 par value		1,534,466			-			500,000	(d)		2,034,466
Notes receivable from stockholders		(564,928	)		-			-			(564,928	)
Deferred equity compensation		(64,167	)		-			-			(64,167	)
Additional paid-in capital		7,390,021			96,575			(96,575	)(c)
								(150,000	)(d)
								200,000	(e)		7,440,021
Accumulated deficit		(16,455,302	)		(2,235,949	)		2,235,949	(c)		(16,455,302	)

Total stockholders' deficit		(7,842,030	)		(2,138,374	)		2,688,374			(7,292,030	)
	$	1,205,254		$	1,151,591		$	3,188,374		$	5,545,219

See notes to unaudited pro forma combined financial statements.

New Century Companies and Subsidiaries

Pro Forma Combined Statement of Operations

For the Year Ended December 31, 2008

(Unaudited)

	NCC			PAI
	For the Year Ended			For the Year Ended			Pro Forma			Pro Forma
	December 31, 2008			December 31, 2008			Adjustments			Combined
Net sales	$	4,822,026		$	3,403,073		$	-		$	8,225,099
Cost of sales		5,498,196			2,274,153			-			7,772,349
Gross profit / (loss)		(676,170	)		1,128,920			-			452,750
Operating expenses		2,516,717			4,349,748			-			6,866,465
Income/(loss) from operations		(3,192,887	)		(3,220,828	)		-			(6,413,715	)
Gain on writeoff of accounts payable		66,194									66,194
Gain on forgiveness of debt		2,872,133									2,872,133
Other income		-			6,375						6,375
Interest expense, net		(1,729,263	)		(70,522	)		(25,000	) (f)		(1,824,785	)
Gain on valuation of liabilities		4,168,415			-			-			4,168,415
Income (loss) before provision for income taxes		2,184,592			(3,284,975	)		(25,000	)		(1,125,383	)

Provision (benefit) for income taxes		3,200			(722,272	)		-			(719,072	)
Net income/ (loss)		2,181,392			(2,562,703	)		(25,000	)		(406,311	)

Preferred stock dividends		(82,550	)		-			-			(82,550	)
Net income/ (loss) applicable to common stockholders	$	2,098,842		$	(2,562,703	)	$	(25,000	)	$	(488,861	)

Income (loss) available to common stockholders per common share
Basic	$	0.14								$	(0.02	)
Diluted	$	0.03								$	(0.02	)

Weighted average shares outstanding
Basic		14,696,227						5,000,000	(g)		19,696,227
Diluted		62,101,547						5,000,000	(g)		19,696,227

See notes to unaudited pro forma combined financial statements.

New Century Companies and Subsidiaries

Pro Forma Combined Statement of Operations

For the Six Months Ended June 30, 2009

(Unaudited)

	NCC			PAI
	For the Six Months Ended			For the Six Months Ended			Pro Forma			Pro Forma
	June 30, 2009			June 30, 2009			Adjustments			Combined
Net sales	$	2,414,332		$	436,784		$	-		$	2,851,116
Cost of sales		2,012,623			563,842			-			2,576,465
Gross profit / (loss)		401,709			(127,058	)		-			274,651
Operating expenses		744,257			287,404			-			1,031,661
Loss from operations		(342,548	)		(414,462	)		-			(757,010	)
Gain on writeoff of accounts payable		5,681									5,681
Other income		-			5,772			-			5,772
Interest expense, net		(1,620,856	)		(25,326	)		(12,500	)(f)		(1,658,682	)
Loss on valuation of liabilities		(1,575,903	)		-			-			(1,575,903	)
Loss before provision for income taxes		(3,533,626	)		(434,016	)		(12,500	)		(3,980,142	)

Provision for income taxes		-			-			-			-
Net loss		(3,533,626	)		(434,016	)		(12,500	)		(3,980,142	)

Preferred stock dividends		(41,275	)		-			-			(41,275	)
Net loss applicable to common stockholders	$	(3,574,901	)	$	(434,016	)	$	(12,500	)	$	(4,021,417	)

Basic and diluted loss available to common stockholders per common share	$	(0.23	)							$	(0.20	)

Weighted average shares outstanding		15,344,654						5,000,000	(g)		20,344,654

See notes to unaudited pro forma combined financial statements.

New Century Companies, Inc.

NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

Note 1 - Basis of Presentation

The unaudited pro forma combined balance sheet gives effect to the acquisition of Precision Aerostructures, Inc. (“PAI”) as if the acquisition had occurred as of June 30, 2009. The unaudited pro forma combined statement of operations for the year ended December 31, 2008 assumes the acquisition took place as of January 1, 2008 and the unaudited pro forma combined statement of operations for the six months ended June 30, 2009 assumes the acquisition took place as of January 1, 2009.

The pro forma information has been prepared for comparative purposes only, and does not purport to be indicative of the results of operations of New Century that would have actually occurred had the transaction been in effect as of the date or for the periods presented, or of results that may occur in the future. The unaudited pro forma combined financial statements should be read in conjunction with the Registrant's historical financial statements and related notes.

Note 2 - Pro Forma Adjustments

The pro forma adjustments are based on the Registrant's management's preliminary estimates of the value of the tangible and intangible assets acquired. A detailed valuation of the fair value of the net assets acquired in the acquisition will be performed during 2010. As a result, the actual adjustments may differ materially from those presented in these unaudited pro forma combined financial statements and may include additional expense incurred in connection with the amortization of intangible assets.

Description of pro forma adjustments :

Pro Forma Adjustments to Combined Balance Sheet :

To record goodwill. The pro forma adjustments are based on the Registrant's management's preliminary estimates of the fair value of the tangible and intangible assets acquired. Management will perform a detailed valuation of the fair value of the net assets acquired. As a result, the actual adjustments may differ materially from those presented in these unaudited pro forma combined financial statements.

To record the $500,000 note payable.

To eliminate the historical equity of PAI.

To record the issuance of 5,000,000 shares of the Registrant’s common stock at closing.

To record the estimated fair value of the warrant issued as acquisition consideration.

Pro Forma Adjustments to Combined Statement of Operations :

Record interest expense on the $500,000 note payable.

Record issuance of 5,000,000 shares of Registrant's common stock in connection with the acquisition.