EX-99.7 6 ex99-7big3financials_unaudit.htm
Ex. 99.7
Big 3 Precision
Unaudited consolidated balance sheet
As of June 30, 2019

Assets |  |  |
Current Assets |  |  |
Cash and cash equivalents |  | $ | 2,636,418 |
Accounts receivables |  |  | 14,825,516 |
Inventories |  |  | 5,201,342 |
Prepaid expenses and other assets |  |  | 351,695 |
Total current assets |  |  | 23,014,971 |
Property, plant and equipment, net |  |  | 13,283,669 |
Goodwill |  |  | 10,142,204 |
Trademarks |  |  | 853,097 |
Other intangible assets, net |  |  | 2,929,123 |
Other assets |  |  | 653,150 |
Total assets |  | $ | 50,876,214 |
Liabilities and Stockholders' Equity |  |  |  |
Current Liabilities |  |  |  |
Accounts payable |  | $ | 5,914,492 |
Other accrued expenses |  |  | 1,385,134 |
Deferred Income |  |  | 901,469 |
Current portion of long-term debt |  |  | 11,663,152 |
Total current liabilities |  |  | 19,864,247 |
Deferred income taxes |  |  | 2,525,015 |
Long-term debt |  |  | 11,856,910 |
Retained Earnings |  |  | 16,630,042 |
Total Liabilities and Stockholder' Equity |  | $ | 50,876,214 |

Big 3 Precision
Unaudited statement of income
For the period ended June 30, 2019

Net sales |  | $ | 36,393,999 |
Cost of products sold |  |  | (27,315,383 | )
Gross margin |  |  | 9,078,616 |
Selling and administrative expenses |  |  | (3,004,936 | )
Operating profits |  |  | 6,073,680 |
Interest expense |  |  | (712,505 | )
Income before income taxes |  |  | 5,361,175 |
Income Taxes |  |  | 1,566,200 |
Net income |  | $ | 3,794,975 |