



                         Proforma Financial Information
                Northeast (USA) Corp. and Buy It Cheap.com, Inc.
              At and for the three months ended September 30, 1999


                                                                         Page
Proforma Consolidated Balance Sheet.......................................1
Proforma Consolidated Statement of Operations.............................2
Proforma Consolidated Statement of Cash Flows.............................3
Notes to Financial Statements...........................................4-6

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<TABLE>
<CAPTION>

                                                     NORTHEAST (USA) CORP.
                                              Proforma Consolidated Balance Sheets
                                                    As of September 30, 1999

                                                          Northeast               Buy It
                                                         (USA) Corp.         Cheap.com, Inc.          Adjustments          Proforma
                            Assets
Current assets:
<S>                                                         <C>                <C>                                         <C>
         Cash                                               $708               $23,566                     -               $24,274
         Notes receivable                                      -                21,751              $(21,751)                    -
         Other                                                 -                   125                                         125
                                                          -------             --------              ---------              ---------
                  Total current assets                       708                45,442               (21,751)               24,399
                                                          -------             --------              ---------              ---------
Investment in and net advances to joint venture          620,535                     -                     -               620,535
Reserve against investment in and net advances to       (620,535)                    -                     -              (620,535)
       joint venture
Investment in website                                          -                19,400                     -                19,400
Goodwill                                                       -                     -               136,429               136,429
                                                         --------              -------              ---------              ---------
         Total assets                                       $708               $64,842              $114,678              $180,228
                                                         ========              =======              =========              ========
                  Liabilities and Equity

Current liabilities:
         Accounts payable                               $175,713               $ 9,697                     -              $185,409
         Due to officers and directors                     4,962                     -                     -                 4,962
         Notes payable                                    21,751                     -              $(21,751)                    -
         Loan payable                                      3,559                     -                     -                 3,559
                                                       ---------               -------              ---------             ---------
                  Total current liabilities              205,985                 9,697               (21,751)              193,930
                                                       ---------               -------              ---------             ---------
Stockholders' equity:
         Preferred stock-Series C, $.001 par                  10                     -                     -                    10
         Common stock-$.001 par                            7,158               $62,125               (61,174)                8,109
         Paid in capital                               2,566,856                     -               190,624             2,757,480
         Treasury stock                                 (751,100)                    -                     -              (751,100)
         Deficit                                      (2,028,201)               (6,980)                6,980            (2,028,201)
                                                      ----------               --------             --------            -----------
                  Total stockholders' equity             205,277                55,145               136,430               (13,702)
                                                      ----------               --------             --------             -----------
                       Total Liabilities and Equity  $       708               $64,842              $114,678            $  180,228
                                                      ==========               =======              ========             ==========
</TABLE>


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<TABLE>

                                             NORTHEAST (USA) CORP.
                                              Statements of Loss
                                 For the Three Months Ended September 30,1999

<CAPTION>


                                  Northeast (USA)            Buy It                                    Proforma
                                      Corp.              Cheap.com,Inc.         Adjustments          Consolidated

<S>                                <C>                   <C>                   <C>                   <C>
Sales Revenues                     $     -               $     -               $     -               $    -
                                   -------------          ------------          -----------           ------------

General and administrative
   expenses                            20,471                6,980               (6,980)                20,471
                                   -------------          ------------          -----------            -----------
         Net loss                    $(20,471)             $(6,980)            $  6,980               $(20,471)
                                   =============          ============          ===========            ===========
Net loss per share                                                                                        -
                                                                                                      $===========
</TABLE>

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<TABLE>


                                                     NORTHEAST (USA) CORP.
                                        Proforma Consolidated Statements of Cash Flows
<CAPTION>

                                                                     -------------For the three months ended September 30,---------
                                                      Northeast              Buy It
                                                     (USA) Corp.         Cheap.com, Inc.                     Proforma
                                                        1999                  1999           Adjustments        1999           1998

Cash flows from operating activities:
<S>                                                    <C>                  <C>                <C>           <C>              <C>
     Net loss                                          $(20,471)            $(6,980)         $  6,980        $(20,471)        $(321)
     Adjustments to reconcile net loss to net cash
         used by operating activities:
       Changes in assets and liabilities
         Subscription receivable                                               (125)                             (125)
         Notes payable                                   21,751                 -             (21,751)            -              -
         Accounts payable                                (1,652)              9,697               -             8,045            -
                                                        --------             ------            -------        --------         -----
         Net cash used by operating activities             (372)              2,592           (14,771)        (12,551)         (321)
                                                        --------             ------            -------        --------         -----
Cash flows from investing activities:
     Issuance of notes receivable                             -             (21,751)           21,751              -             -
     Investment in website                                    -             (19,400)              -           (19,400)           -
                                                        --------            --------          --------        --------         -----
                                                              -             (41,151)           21,751         (19,400)           -
Cash flows from financing activities:
     Sale of common stock                                     -              62,125            (6,980)         55,145            -
                                                        --------             -------          --------        -------          -----
Net increase (decrease) in cash                            (372)             23,566                 -          23,194          (321)
Cash at beginning of period                               1,080                -                    -           1,080         1,102
                                                         -------            -------           --------        -------         ------
Cash at end of period                                  $    708             $23,566          $      -        $ 24,274         $ 781
                                                         =======            =======           ========        ========         =====
</TABLE>

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                                             Northeast (USA) Corp.
                                         Notes to Financial Statements


Financial Statements

The proforma consolidated balance sheets,  proforma  consolidated  statements of
loss,  and  proforma  consolidated  statements  of cash  flows  for all  periods
reported  herein have been  prepared by Northeast  (USA) Corp.  (the  "Company")
without  audit.  In the opinion of the  Company,  all  adjustments  necessary to
present fairly these financial statements have been made. The proforma format of
the financial  statements  give effect to the merger between the Company and Buy
It Cheap.com,  Inc.  as though it was consummated at September 30, 1999.  Buy It
Cheap.com, Inc. was incorporated in July of 1999. See Note on Subsequent Event.

Nature of Business

The Company is a Delaware  corporation.  The  Company  has had limited  business
operations  for the past 27 months.  Its  current  business  plans  include  the
seeking of business opportunities thorough acquisitions, mergers, joint ventures
and/or the formation of operating  subsidiaries.  All prior operations have been
classified as discontinued.

Summary of Significant Accounting Policies

Basis of Presentation
The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The Company has incurred losses
and has no current source of revenues or funds and has a working capital deficit
as of  September  30,  1999.  In  addition,  the  Company,  as a result  of its
acquisition  of Buy It  Cheap.com,  Inc.  (see Note on  Subsequent  Event)  will
require  additional  funds to finance the  combined  operations.  The  Company's
continued  existence is dependent upon its ability to secure adequate financing.
The  Company  plans to raise  capital  for the  combined  entity in the  future;
however,  there  are no  assurances  that  such  plan  will be  successful.  The
financial  statements do not include any adjustments  that might result from the
outcome of these uncertainties.

Joint Venture
The Company in  1992 formed a joint venture agreement with the Northeast General
Pharmaceutical  Factory ("NEGPF"), a government owned  pharmaceutical concern in
Shenyang,  China, whereby both companies  established a joint venture company in
China. Each of the Company and NEGPF were to have contributed  certain assets to
the joint venture.  The Company was to have contributed $2.1 million in cash and
$1.15 million in technology for a total capital  contribution of $3.25  million.
NEGPF was to have  contributed  $750,000 in cash and a land-use  right valued at
$1.75 million for a total contribution of $2.5 million. Based upon the amount of
contribution,  the  Company  owned  56.52% of the joint  venture and NEGPF owned

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43.48% . To  date,  the  Company  has  contributed  $1  million  of cash and has
contributed the technology.  NEGPF has contributed  $750,000 of cash but has not
contributed  the land-use  right.  The joint  venture had only limited  start-up
operations and operations effectively ceased in 1997 due to lack of funding. The
Company has  communicated  with NEGPF that it no longer has nay  interest in the
joint venture.  As such the Company has reserved $620,535 against the investment
in and net advances from the joint venture.

Net Loss Per common Share
The weighted  average number of common shares  outstanding used in computing net
loss per common share was 7,008,187 in the 1998 period and 7,878,187 in the 1999
period.  The weighted  average number of common shares used in computing the net
loss per common  share does not  include  any shares  issuable  upon the assumed
conversion  of the  preferred  stock (see Note of  Preferred  Stock),  since the
effect would have been to decrease net loss per common share for the period.

Income Taxes
Income taxes are provided  for the tax effects of  transactions  reported in the
financial  statements  and consist of taxes  currently due plus  deferred  taxes
related primarily to differences between the basis of assets and liabilities for
financial  and income tax  reporting.  The deferred  tax assets and  liabilities
represent the future tax return  consequences of those  differences,  which will
either be taxable or deductible  when the assets or liabilities are recovered or
settled.  Deferred  taxes also are  recognized  for  operating  losses  that are
available to offset future federal and state income taxes. The Company has a net
operating loss carryforward of $373,614 which expires in years through 2018.

Use of Estimates
The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could differ from those estimates.

Preferred Stock

In May 1994,  the company sold 275,000 shares of its newly  designated  Series C
convertible  preferred  stock,  $.001  par  value,  for an  aggregate  amount of
$825,000  to a group of  private  investors.  Except for  $10,000  (representing
30,000 shares) of the preferred stock, all had been converted according to their
terms  prior to July 1, 1998.  The Company has the right to redeem the shares at
$4.50 per  share.  The  shares  carry a stated  dividend  rate of 8% per  annum.
Dividends are cumulative and are payable quarterly.  No cash dividends have ever
been paid. Some former  preferred  shareholders  (prior to or simultaneous  with
their  conversion)  have accepted shares of the Company's  stock in lieu of cash
dividends.  Those that did not accept  shares of stock for  dividends  and those
that did not  covert  their  preferred  shares are owed a total of  $105,000  of
dividend arrcarages at September 30, 1999.


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Subsequent Event

On August 5, 1999,  the Company's  Board of Directors  duly adopted a resolution
approving the  acquisition of Buy It Cheap.com,  Inc.  ("BUY").  Approval of the
merger  by the  Company's  shareholders  was not  required.  The  directors  and
shareholders of BUY approved the merger on September 16, 1999. BUY is a start-up
company  formed by two  directors  of the Company  that will  operate a discount
Internet retailing business. Based upon the final pre-merger asset value of BUY,
BUY  stockholders  received  1,400,000  shares of the Company's  common stock in
accordance  with the terms of the Agreement and Plan of Merger dated October 27,
1999, by and between the Company and BUY. The merger was  consummated on October
27, 1999 and became effective on November 3, 1999.

