RECYCLENET CORPORATION
CONSOLIDATED BALANCE SHEETS

Year 2004: |Balance Sheets| |Statements of Cash Flows| |Statements of Operation|
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Cash

Trade accounts receivable, net of $2,500 and $2,693 allowance for bad debt, respectively

Other receivables

Prepaid expenses

Advances to related party - current

Total Current Assets

Property and Equipment

Computer Equipment

Less accumulated depreciation

Net Property and Equipment

Advances to Related Party - Net of Current Portion

Total Assets

Trade accounts payable

Accrued liabilities

Deferred revenue

Total Current Liabilities

 
Stockholder's Equity

Class N convertible shares (and Class X shares of Amalco) $0.01 par value; 70,896,789 shares authorized; 61,175,681 shares issued and outstanding

Common shares - $0.01 par value; 179,103,211 shares
authorized; 76,421,792 and 76,171,792 shares issued and outstanding, net 0 and 250,000 shares held in escrow

Additional (par value in excess of) paid-in capital

Accumulated deficit

Total Stockholder's Equity

Total Liabilities and Stockholder's Equity