Exhibit 99.2
TRI-STATE PAVING & SEALCOATING, LLC
Balance Sheets
March 31, | March 31, | |||||||
2022 | 2021 | |||||||
Assets | ||||||||
Current Assets | ||||||||
Cash and cash equivalents | $ | 1,336,933 | $ | 1,379,285 | ||||
Accounts Receivable-Trade | 264,787 | 415,693 | ||||||
Other Receivables | 406,618 | - | ||||||
Prepaid expenses and other | 247,767 | 228,343 | ||||||
Total Current Assets | 2,256,105 | 2,023,321 | ||||||
Property, Plant, and Equipment, at cost | 7,500,537 | 7,165,572 | ||||||
less Accumulated Depreciation | (3,719,110 | ) | (3,437,420 | ) | ||||
3,781,427 | 3,728,152 | |||||||
Total Assets | $ | 6,037,532 | $ | 5,751,473 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current Liabilities | ||||||||
Current Maturities of Long Term Debt | $ | 318,679 | $ | 598,661 | ||||
Accounts Payable | 250,334 | 171,201 | ||||||
Accrued Expenses and other Current Liabilities | 261,115 | 129,132 | ||||||
Total Current Liabilities | 830,128 | 898,994 | ||||||
Long Term Debt, Non-current Portion | 857,290 | 1,554,610 | ||||||
Total Liabilities | 1,687,418 | 2,453,604 | ||||||
Stockholders' Equity | ||||||||
Retained Earnings | 4,350,114 | 3,297,869 | ||||||
Total Stockholders' Equity | 4,350,114 | 3,297,869 | ||||||
Total Liabilities & Stockholders' Equity | $ | 6,037,532 | $ | 5,751,473 |
TRI-STATE PAVING & SEALCOATING, LLC
Statements of Income
Three Months Ended | Three Months Ended | |||||||
March 31, | March 31, | |||||||
2022 | 2021 | |||||||
Total Revenue | $ | 1,458,479 | $ | 1,039,211 | ||||
Cost of Revenues | 1,549,438 | 1,219,574 | ||||||
Gross loss | (90,959 | ) | (180,363 | ) | ||||
Selling and administrative expenses | 494,758 | 405,871 | ||||||
Loss from operations | (585,717 | ) | (586,234 | ) | ||||
Other income (expense) | ||||||||
Gain on sale of equipment | 9,595 | 45,403 | ||||||
Net loss | $ | (576,122 | ) | $ | (540,832 | ) |