Attached files
| file | filename |
|---|---|
| 8-K/A - Umami Sustainable Seafood Inc. | v217677_8ka.htm |
| EX-99.3 - Umami Sustainable Seafood Inc. | v217677_ex99-3.htm |
| EX-99.2 - Umami Sustainable Seafood Inc. | v217677_ex99-2.htm |
| EX-99.6 - Umami Sustainable Seafood Inc. | v217677_ex99-6.htm |
| EX-99.5 - Umami Sustainable Seafood Inc. | v217677_ex99-5.htm |
Baja Aqua Farms, S.A.
Statements of Financial Position
As of 9/30/2010
(unaudited)
(in thousands)
|
Baja
|
||||
|
Current assets:
|
||||
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Cash and cash equivalents
|
$ | 2,867 | ||
|
Accounts receivable, trade
|
2,315 | |||
|
Accounts receivable, shareholder and other related party
|
115 | |||
|
Inventories
|
22,692 | |||
|
Other current assets
|
221 | |||
|
Total current assets
|
28,210 | |||
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Property and equipment, net
|
3,759 | |||
|
Other assets
|
421 | |||
|
Total assets
|
$ | 32,390 | ||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||
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Current liabilities:
|
||||
|
Accounts payable, trade
|
$ | 2,298 | ||
|
Accounts payable to shareholder and other related parties
|
36,510 | |||
|
Total current liabilities
|
38,808 | |||
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Long term debt
|
3,200 | |||
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Total liabilities
|
42,008 | |||
|
Commitments and contingencies
|
||||
|
Stockholders’ equity:
|
||||
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Common stock
|
7,707 | |||
|
Additional paid-in capital
|
68 | |||
|
Retained earnings
|
(17,393 | ) | ||
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Accumulated other comprehensive income
|
- | |||
|
Total Baja stockholders’ equity
|
(9,618 | ) | ||
|
Total liabilities and stockholders’ equity
|
$ | 32,390 | ||
Baja Aqua Farms S.A. de C.V.
Statements of Operations
Nine months ended 9/30/2010 and 9/30/2009
(unaudited)
(in thousands)
|
9/30/2010
|
9/30/2009
|
|||||||
|
Net revenue
|
$ | 6,043 | $ | 7,839 | ||||
|
Cost of goods sold
|
(7,339 | ) | (4,968 | ) | ||||
|
Gross profit
|
(1,296 | ) | 2,871 | |||||
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Selling, general and administrative expenses
|
(3,318 | ) | (3,283 | ) | ||||
|
Operating loss
|
(4,614 | ) | (412 | ) | ||||
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Other income (expenses), net
|
1,246 | 2,035 | ||||||
|
Financing (cost) income
|
(1,840 | ) | (522 | ) | ||||
|
Income (loss) before provision for income taxes
|
(5,208 | ) | 1,101 | |||||
|
Income tax provision
|
- | - | ||||||
| Net income (loss) from continuing operations | (5,208 | ) | 1,101 | |||||
| Net loss from discontinued operations | (144 | ) | (486 | ) | ||||
|
Net income (loss)
|
$ | (5,352 | ) | $ | 615 | |||
Baja Aqua Farms S.A. de C.V.
Statements of Cash Flow
Nine months ended 9/30/2010 and 9/30/2009
(unaudited)
(in thousands)
|
Nine months ended
|
Nine months ended
|
|||||||
|
September 30, 2010
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September 30, 2009
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|||||||
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Operating Activities
|
||||||||
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Net gain / (loss)
|
$ | (5,208 | ) | $ | 1,101 | |||
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Net (loss) from discontinued operations
|
(144 | ) | (486 | ) | ||||
|
Adjustments to reconcile to net cash used in operating activities:
|
||||||||
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Depreciation
|
366 | 305 | ||||||
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Deferred income taxes
|
(18 | ) | (4 | ) | ||||
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Changes in assets and liabilities:
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||||||||
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Accounts receivable, trade
|
3,503 | (131 | ) | |||||
|
Accounts receivable, related parties
|
(197 | ) | 501 | |||||
|
Inventories
|
(10,362 | ) | (2,591 | ) | ||||
|
Other current assets
|
360 | (161 | ) | |||||
|
Accounts payable, trade
|
(376 | ) | 3,929 | |||||
|
Accounts payable to related parties
|
33,082 | 2,729 | ||||||
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Net cash from / (used in) operating activities of continuing operations
|
21,006 | 5,192 | ||||||
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Net cash from / (used in) operating activities of discontinued operations
|
(4,893 | ) | (5,546 | ) | ||||
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Net cash from / (used in) operating activities
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16,113 | (354 | ) | |||||
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Investing activities
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||||||||
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Purchases of property and equipment
|
(952 | ) | (423 | ) | ||||
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Sale of fixed assets
|
- | 454 | ||||||
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Net cash from / (used in) investing activities of continuing operations
|
(952 | ) | 31 | |||||
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Net cash from / (used in) investing activities of discontinued operations
|
23 | 664 | ||||||
|
Net cash from / (used in) investing activities
|
(929 | ) | 695 | |||||
|
Financing activities
|
||||||||
|
Reclassification of equity to accounts payable to related parties
|
(29,453 | ) | - | |||||
|
Repayments of note payable to financial institution
|
(1,381 | ) | (1,313 | ) | ||||
|
Issuance of LT Debt
|
3,200 | - | ||||||
|
Net cash from / (used in) financing activities of continuing operations
|
(27,634 | ) | (1,313 | ) | ||||
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Net cash from / (used in) financing activities of discontinued operations
|
14,648 | 1,365 | ||||||
|
Net cash from / (used in) financing activities
|
(12,986 | ) | 52 | |||||
|
Subtotal
|
2,198 | 393 | ||||||
|
Cash and cash equivalents at beginning of year
|
669 | 66 | ||||||
|
Cash and cash equivalents at end of period
|
$ | 2,867 | $ | 459 | ||||