EX-99.1 3 dex991.txt PROFORMA CONSOLIDATED BALANCE SHEETS Exhibit 99.1 IIS Intelligent Information Systems Ltd Pro forma Consolidated Balance Sheets (In thousands)
September 30, December 31, ------------------------------ 2001 2000 2000 -------------- ------------- ------------ Unaudited (historical) ------------------------------ (pro forma) (historical) ASSETS CURRENT ASSETS: Cash and Cash Equivalents $ 1,780 $ 5,801 $ 3,077 Restricted Cash - - 600 Trade Receivables 14 - 43 Other Accounts Receivable 164 477 124 -------- -------- -------- Total Current Assets 1,958 6,278 3,844 ----- -------- -------- -------- SEVERANCE PAY FUND 2 - 32 -------- -------- -------- INVESTMENT IN AFFILIATE 1,537 - 2,127 -------- -------- -------- PROPERTY, PLANT AND EQUIPMENT, NET 96 605 63 -------- -------- -------- WORK FORCE, NET 211 - 283 -------- -------- -------- Total Assets $ 3,804 $ 6,883 $ 6,349 ----- ======== ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Short Term Bank Debt $ 10 $ 165 $ 10 Trade Payables 130 342 177 Other Accounts Payable 761 1,715 1,403 -------- -------- -------- Total Current Liabilities 901 2,222 1,590 ----- -------- -------- -------- LONG TERM LIABILITIES: Banks 4 76 11 Convertible Loan - -- 2,828 Accrued Severance Pay 14 40 38 -------- -------- -------- Total Long Term Liabilities 18 116 2,877 ----- -------- -------- -------- MINORITY INTEREST - 329 - -------- -------- -------- PREFERRED SHARES OF SUBSIDIARY - 2,236 - -------- -------- -------- SHAREHOLDERS' EQUITY: Share Capital 54 54 54 Additional Paid in Capital 41,278 36,895 37,435 Receivables on account of shares - - (16) Deferred Compensation (117) - (222) Accumulated Deficit (38,330) (34,969) (35,369) -------- -------- -------- Total Shareholders' Equity 2,885 1,980 1,882 ----- -------- -------- -------- Total Liabilities and Shareholders' Equity $ 3,804 $ 6,883 $ 6,349 ----- ======== ======== ========