EX-99.2 5 l39388exv99w2.htm EX-99.2 exv99w2
Exhibit 99.2
REGENT COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(UNAUDITED)

(In thousands, except share amounts)
         
    February 28,  
    2010  
ASSETS
       
Current assets:
       
Cash and cash equivalents
  $ 10,643  
Restricted cash
    300  
Accounts receivable, net of allowance of $551 at February 28, 2010
    11,625  
Assets held for sale
    156  
Other current assets
    3,223  
 
     
 
       
Total current assets
    25,947  
 
       
Property and equipment, net
    29,410  
Intangible assets, net
    97,729  
Goodwill
    11,172  
Deferred tax assets
     
Other assets
    1,619  
 
     
 
       
Total assets
  $ 165,877  
 
     
 
       
LIABILITIES AND STOCKHOLDERS’ DEFICIT
       
Current liabilities:
       
Current portion of long-term debt
  $ 187,730  
Accounts payable
    1,501  
Accrued compensation
    905  
Other current liabilities
    21,778  
 
     
 
       
Total current liabilities
    211,914  
 
       
Other long-term liabilities
    2,549  
 
     
 
       
Total liabilities
    214,463  
 
     
 
       
Commitments and contingencies
       
 
       
Stockholders’ deficit:
       
Common stock, $.01 par value, 100,000,000 shares authorized; 50,955,743 shares issued at February 28, 2010
    510  
Treasury stock, 7,950,723 shares, at cost, at February 28, 2010
    (40,832 )
Additional paid-in capital
    339,322  
Accumulated deficit
    (347,586 )
 
     
Total stockholders’ deficit
    (48,586 )
 
     
 
       
Total liabilities and stockholders’ deficit
  $ 165,877  
 
     
Regent Communications, Inc. and its wholly-owned subsidiaries filed a joint petition for reorganization under
Chapter 11 of the U.S Bankruptcy Code on March 1, 2010.