EX-99.1 2 a2053971zex-99_1.htm UNAUDITED PRO FORMA BALANCE SHEET Prepared by MERRILL CORPORATION
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EXHIBIT 99.1


ebix.com, Inc. and Subsidiaries
Unaudited Pro Forma Consolidated Balance Sheet
(In thousands, except for share amounts)

 
  May 31,
2001

  Pro Forma
Adjustments

  Pro Forma
May 31,
2001

 
ASSETS                    
Current assets:                    
Cash and cash equivalents   $ 3,500   $ 4,200 (a) $ 7,700  
Accounts receivable, less allowance     1,329           1,329  
Other receivables     12           12  
Other current assets     479           479  
   
 
 
 
  Total current assets     5,320     4,200     9,520  
Property and equipment, net     855           855  
Goodwill, net     233           233  
Other assets     133           133  
   
 
 
 
Total assets   $ 6,541   $ 4,200   $ 10,741  
   
 
 
 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 
Current liabilities:                    
Accounts payable and accrued expenses   $ 3,257         $ 3,257  
Accrued payroll and related benefits     312           312  
Current portion of long-term debt     106           106  
Current portion of capital lease obligation     140           140  
Deposit liability     709           709  
Deferred revenue     2,182           2,182  
   
 
 
 
  Total current liabilities     6,706         6,706  
Long-term capital lease obligation, less current portion     256           256  
Other liabilites     167           167  
   
 
 
 
Total liabilities     7,129         7,129  
   
 
 
 

Stockholders' equity (deficit):

 

 

 

 

 

 

 

 

 

 
Convertible Series D Preferred stock, $.10 par value, 2,000,000
shares authorized, no shares issued and outstanding
               
Common stock, $.10 par value,
20,000,000 shares authorized,
13,622,182 shares issued and outstanding; 18,326,182
shares issued and outstanding on a pro forma basis
    1,363     471 (a)   1,834  
Additional paid-in capital     83,051     3,729 (a)   86,780  
Deferred compensation     (295 )         (295 )
Accumulated deficit     (84,687 )         (84,687 )
Accumulated other comprehensive loss     (20 )         (20 )
   
 
 
 
Total stockholders' equity (deficit)     (588 )   4,200     3,612  
   
 
 
 
Total liabilities and stockholders' equity (deficit)   $ 6,541   $ 4,200   $ 10,741  
   
 
 
 

(a)
Represents cash received in June 2001 for 4,704,000 shares of common stock issued in second closing to BRiT.



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ebix.com, Inc. and Subsidiaries Unaudited Pro Forma Consolidated Balance Sheet (In thousands, except for share amounts)