Pennexx Foods Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2002	FY 2001	FY 2000	FY 1999
Period Ending	Mar '03 Mar 31, 2003	Dec '02 Dec 31, 2002	Dec '01 Dec 31, 2001	Dec '00 Dec 31, 2000	Dec '99 Dec 31, 1999
Cash & Equivalents	0.33	0.19	2.42	-	0.09
Cash & Short-Term Investments	0.33	0.19	2.42	-	0.09
Cash Growth	-87.33%	-92.24%	-	-	-
Accounts Receivable	2.36	2.56	2.6	1.29	0.1
Other Receivables	0.16	11.9	-	0.1	-
Receivables	2.52	14.46	2.6	1.39	0.1
Inventory	2.12	2.09	1.14	0.48	0.01
Prepaid Expenses	0.65	0.75	0.2	0.05	0.01
Total Current Assets	5.61	17.49	6.36	1.91	0.22
Property, Plant & Equipment	11.33	11.35	3.24	2.66	1.04
Other Long-Term Assets	0.07	0.15	0.06	0.04	0.01
Total Assets	17.01	28.98	9.66	4.61	1.26
Accounts Payable	4.45	8.83	2.1	2.89	0.21
Accrued Expenses	0.84	0.57	0.27	0.28	0.04
Short-Term Debt	-	-	-	0.4	-
Current Portion of Long-Term Debt	11.28	10.12	-	-	0.14
Current Portion of Leases	0.27	0.26	0.23	0.25	0.11
Total Current Liabilities	16.83	19.78	2.6	3.82	0.49
Long-Term Debt	-	10.7	2.5	-	0.5
Long-Term Leases	0.35	0.42	0.68	0.79	0.39
Total Liabilities	17.18	30.9	5.78	4.61	1.37
Common Stock	0.32	0.29	0.26	0.13	0.08
Additional Paid-In Capital	19.79	14.96	12.1	5.77	0.34
Retained Earnings	-20.1	-16.96	-8.17	-5.48	-0.53
Comprehensive Income & Other	-0.18	-0.21	-0.31	-0.42	-
Shareholders' Equity	-0.17	-1.93	3.88	0	-0.11
Total Liabilities & Equity	17.01	28.98	9.66	4.61	1.26
Total Debt	11.9	21.5	3.41	1.45	1.12
Net Cash (Debt)	-11.57	-21.31	-1	-1.45	-1.03
Net Cash Per Share	-0.44	-0.83	-0.05	-0.15	-0.16
Filing Date Shares Outstanding	31.72	31.72	26.42	13.37	8.25
Total Common Shares Outstanding	31.72	28.87	26.42	13.37	8.25
Working Capital	-11.22	-2.3	3.76	-1.91	-0.27
Book Value Per Share	-0.01	-0.07	0.15	0.00	-0.01
Tangible Book Value	-0.17	-1.93	3.88	0	-0.11
Tangible Book Value Per Share	-0.01	-0.07	0.15	0.00	-0.01
Buildings	-	5.64	0.4	0.3	0.03
Machinery	-	7.14	3.79	2.73	1.04
Leasehold Improvements	-	-	0.4	0.3	0.03

Source: S&P Capital IQ. Standard template. Financial Sources.