Attached files
| file | filename |
|---|---|
| 8-K/A - Umami Sustainable Seafood Inc. | v217677_8ka.htm |
| EX-99.4 - Umami Sustainable Seafood Inc. | v217677_ex99-4.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 |
Oceanic Enterprises, Inc.
Statements of Financial Position
As of 9/30/2010
(unaudited)
(in thousands)
|
Oceanic
|
||||
|
Current assets:
|
||||
|
Cash and cash equivalents
|
$ | 78 | ||
|
Accounts receivable, trade
|
32 | |||
|
Accounts receivable, shareholder and other related party
|
2,922 | |||
|
Inventories
|
36 | |||
|
Other current assets
|
74 | |||
|
Total current assets
|
3,142 | |||
|
Property and equipment, net
|
173 | |||
|
Other assets
|
548 | |||
|
Total assets
|
$ | 3,863 | ||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||
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Current liabilities:
|
||||
|
Borrowings from shareholder
|
$ | - | ||
|
Accounts payable, trade
|
187 | |||
|
Accounts payable to shareholder and other related parties
|
3,502 | |||
|
Accrued liabilities
|
15 | |||
|
Total current liabilities
|
3,704 | |||
|
Long term notes payable
|
- | |||
|
Total liabilities
|
3,704 | |||
|
Commitments and contingencies
|
||||
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Stockholders’ equity:
|
||||
|
Common stock
|
10 | |||
|
Additional paid-in capital
|
1,000 | |||
|
Retained earnings
|
(851 | ) | ||
|
Accumulated other comprehensive income
|
- | |||
|
Total Oceanic stockholders’ equity
|
159 | |||
|
Total liabilities and stockholders’ equity
|
$ | 3,863 | ||
Oceanic Enterprises, Inc.
Statements of Operations
Nine months ended 9/30/2010 and 9/30/2009
(unaudited)
(in thousands)
|
9/30/2010
|
9/30/2009
|
|||||||
|
Net revenue
|
$ | 1,800 | $ | 10,507 | ||||
|
Cost of goods sold
|
- | (9,069 | ) | |||||
|
Gross profit
|
1,800 | 1,438 | ||||||
|
Selling, general and administrative expenses
|
(1,473 | ) | (1,583 | ) | ||||
|
Operating income (loss)
|
327 | (145 | ) | |||||
|
Exchange gains
|
- | 115 | ||||||
|
Gain (loss) asset disposition
|
(2 | ) | - | |||||
|
Interest expense
|
(472 | ) | (91 | ) | ||||
|
Income (loss) before provision for income taxes
|
(147 | ) | (121 | ) | ||||
|
Income tax provision
|
- | - | ||||||
|
Net income (loss)
|
$ | (147 | ) | $ | (121 | ) | ||
Oceanic Enterprises, Inc.
Statement 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
|
September 30, 2009
|
|||||||
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Operating Activities
|
||||||||
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Net loss
|
$ | (147 | ) | $ | (121 | ) | ||
|
Adjustments to reconcile to net cash used in operating activities:
|
||||||||
|
Depreciation
|
- | - | ||||||
|
Deferred income taxes
|
(432 | ) | (506 | ) | ||||
|
Changes in assets and liabilities:
|
||||||||
|
Accounts receivable, trade
|
614 | (364 | ) | |||||
|
Accounts receivable, shareholder and other related party
|
(65 | ) | 110 | |||||
|
Inventories
|
(30 | ) | (6 | ) | ||||
|
Other current assets
|
366 | 486 | ||||||
|
Accounts payable, trade
|
(77 | ) | (159 | ) | ||||
|
Accounts payable to shareholder and other related parties
|
2,018 | (634 | ) | |||||
|
Accrued liabilities
|
(165 | ) | (49 | ) | ||||
|
Net cash used and provided in operating activities
|
2,082 | (1,243 | ) | |||||
|
Investing activities
|
||||||||
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Purchases of property and equipment
|
(85 | ) | (11 | ) | ||||
|
Sale of fixed assets
|
13 | - | ||||||
|
Net cash used in investing activities
|
(72 | ) | (11 | ) | ||||
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Financing activities
|
||||||||
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Borrowings from unrelated parties
|
- | 100 | ||||||
|
Repayments of note payable to shareholder
|
(1,939 | ) | (1,464 | ) | ||||
|
Net cash used in financing activities
|
(1,939 | ) | (1,364 | ) | ||||
|
Subtotal
|
71 | (2,618 | ) | |||||
|
Cash and cash equivalents at beginning of year
|
7 | 2,995 | ||||||
|
Cash and cash equivalents at end of period
|
$ | 78 | $ | 377 | ||||