RecycleNet Corporation Financial

RECYCLENET CORPORATION
CONSOLIDATED BALANCE SHEETS

	Sept 30th	Dec 31st
	2005	2004
ASSETS
Current Assets
Cash	$220,060	$274,244
Trade accounts receivable, net of $2500 for bad debt	14,740	13,027
Other receivables	3,594	10,314
Prepaid expenses	1,500	4,693
Advances to related party - current	-	4,573

Total Current Assets	239,894	306,851
Property and Equipment
Computer Equipment	44,146	41,306
Less accumulated depreciation	(28,626)	(24,578)
Net Property and Equipment	15,520	16,728
Total Assets	$255,414	$323,579

LIABILITIES & STOCKHOLDER'S EQUITY
Current Liabilities
Trade accounts payable	$10,640	664
Accrued liabilities	28,250	18,141
Deferred revenue	125,606	96,525
Total Current Liabilities	164,496	115,330
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	611,757	611,757
Common shares - $0.01 par value; 179,103,211 shares authorized; 76,471,792 and 76,421,792 shares issued and outstanding, respectively	764,718	764,218
Additional paid-in capitall	34,315	33,565
Accumulated deficit	(1,319,872)	(1,201,291)
Total Stockholder's Equity	90,918	208,249
Total Liabilities and Stockholder's Equity	255,414	323,579

File No.: 2130