EX-99.2 4 0004.txt UNAUDITED FINANCIAL STATEMENTS
Diversified Scientific Services, Inc. (a wholly owned subsidiary of Waste Management, Inc.) Balance Sheet June 30, December 31, 2000 1999 (Amounts in Thousands) (unaudited) ___________________________________________________________________________________ ASSETS Current Assets Cash $ 221 $ 4 Accounts Receivable, net 3,394 4,604 Inventories and Supplies 445 458 Prepaid Expenses - 23 __________ __________ Total Current Assets 4,060 5,089 Property and Equipment, net 1,865 1,829 __________ __________ Total assets $ 5,925 $ 6,918 ========== ========== LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 177 $ 425 Accrued Payroll 156 127 Accrued Disposal and Transportation 1,175 1,390 Other Accrued Liabilities 675 1,281 __________ __________ Total Current Liabilities 2,183 3,223 Long Term Closure 1,150 1,100 Payable to Parent 18,541 18,265 __________ __________ Total Liabilities 21,874 22,588 Stockholders' Deficit Common Stock - - Additional Paid-in Capital 8,846 8,846 Accumulated Deficit (24,795) (15,670) __________ __________ (15,949) (15,670) __________ __________ Total Stockholders' Deficit (15,949) (15,670) __________ __________ Total Liabilities and Stockholders' Deficit $ 5,925 $ 6,918 ========== ==========
Diversified Scientific Services, Inc. (a wholly owned subsidiary of Waste Management, Inc.) Unaudited Statement of Operations Three Months Ended Six Months Ended June 30, June 30, (Amounts in Thousands Except for Per Share Data) 2000 1999 2000 1999 __________________________________________________________________________________________________ Revenues $ 1,462 $ 3,732 $ 2,788 $ 5,260 Operating Expenses 1,758 1,752 2,873 3,475 Management Fees 82 - 194 - _______ _______ _______ _______ Income (Loss) before Taxes (378) 1,980 (279) 1,785 Income Tax Provision - - - - _______ _______ _______ _______ Net Income (Loss) $ (378) $ 1,980 $ (279) $ 1,785 ======= ======= ======= =======
Diversified Scientific Services, Inc. (a wholly owned subsidiary of Waste Management, Inc.) Unaudited Statements of Cash Flows Six Months Ended June 30, _______________________________ Amounts in thousands, Except for Share Amounts 2000 1999 ________________________________________________________________________________________________________ Cash Flows from operating activities: Net Income (Loss) $ (279) $ 1,785 Adjustments to reconcile net income (loss) to net Cash provided by operating activities Depreciation and Amortization 94 173 Change in assets and liabilities Decrease/(increase) in accounts receivable 1,210 (1,999) Increase in inventories and supplies 13 (31) Decrease/(Increase) in prepaid expenses (56) 95 Increase/(decrease) in accounts payable (248) (425) Increase/(decrease) in accrued payroll 29 92 Increase/(decrease) in accrued disposal/transportation (215) 343 Increase/(decrease) in other accrued liabilities (639) 150 Increase in long term closure reserve 150 50 _________ ________ Net cash provided by operating activities 59 233 _________ ________ Cash Flows from Investing activities Capital expenditures, net of disposals (130) (139) _________ ________ Cash Flows from Financing activities Increase/(Decrease) in payable to parent 288 (106) _________ ________ Net Increase (Decrease) in cash 217 (12) _________ ________ Cash, beginning of period 4 16 _________ ________ Cash, ending of period $ 221 $ 4 ========= ========