AMERALIA INC - FORM 8-K/A - EX-99.1 - EXHIBIT 99.1 - September 21, 2010

Attached files

file filename
EX-99.2 - EXHIBIT 99.2 - AMERALIA INCex99_2.htm
8-K/A - NATURAL RESOURCES USA CORPORATION 8-K/A 6-30-2010 - AMERALIA INCform8ka.htm
EXHIBIT 99.1

Natural Soda Holdings, Inc.
Consolidated Balance Sheet
As of March 31, 2010
(Unaudited)

ASSETS
      
Cash
   $ 3,176,111  
Accounts receivable
     3,769,428  
Inventories
     1,204,402  
Prepaid expenses
     67,026  
Total Current Assets
     8,216,967  
Property, plant and equipment, net
     9,375,263  
Cavities and well development, net
     10,463,630  
Mineral leases
     4,167,471  
Total Fixed Assets
     24,006,364  
Water rights
     3,150,582  
Patents, net
     20,373  
Equipment held and not yet in service
     3,197,842  
Well and well development, RSL
     595,000  
Acquisition costs, net
     702,605  
Rock School Lease and reserves
     3,300,000  
Deposits, prepayments and bonds
     232,500  
Restricted funds
     1,267,480  
Total Other Assets
     12,466,382  
TOTAL ASSETS
   $ 44,689,713  
         
LIABILITIES
        
Accounts and royalties payable
   $ 1,504,639  
Accrued expenses
     455,556  
Due to related party
     225,727  
Notes payable, current
     1,982,374  
Capital leases, current portion
     9,034  
Total Current Liabilities
     4,177,330  
Notes payable, long term
     19,447  
Capital leases, non-current portion
     3,522  
Asset retirement obligations
     1,096,657  
Total Long Term Liabilities
     1,119,626  
TOTAL LIABILITIES
     5,296,956  
         
EQUITY
        
Common stock
     10,000  
Additional paid in capital
     123,201,031  
Accumulated deficit
     (83,818,274 )
TOTAL EQUITY
     39,392,757  
TOTAL LIABILITIES AND EQUITY
   $ 44,689,713  

 
 
 

Natural Soda Holdings, Inc.
Consolidated Statements of Operations
(Unaudited)

   
For Nine Months ended March 31, 2010
    
For Three Months ended March 31, 2010
  
Revenues
   $ 15,778,330     $ 5,349,381  
Cost of sales
     (10,823,595 )     (3,824,780 )
Gross profit
     4,954,735       1,524,601  
                 
General and administrative expenses
     1,474,675       347,436  
Depreciation and amortization expense
     1,691,242       465,094  
Total expenses
     3,165,917       812,530  
                 
Income from operations
     1,788,818       712,071  
                 
Interest expense
     (151,063 )     (41,307 )
Interest income
     590       -  
Total other income (expense)
     (150,473 )     (41,307 )
                 
Net income
   $ 1,638,345     $ 670,764  

 
 
 

Natural Soda Holdings, Inc.
Consolidated Balance Sheet
As of June 30, 2009
(Unaudited)

   
ASSETS
      
Cash
   $ 156,139  
Accounts receivable
     3,723,426  
Inventories
     930,349  
Prepaid expenses
     325,942  
Total Current Assets
     5,135,856  
Property, plant and equipment, net
     9,462,474  
Cavities and well development, net
     6,130,745  
Mineral leases
     4,167,471  
Total Fixed Assets
     19,760,690  
Water rights
     3,150,582  
Patents, net
     22,886  
Equipment held and not yet in service
     3,197,842  
Well and well development, RSL
     595,000  
Acquisition costs, net
     731,848  
Rock School Lease & reserves
     3,300,000  
Deposits and bonds
     8,000  
Restricted funds
     1,267,480  
Total Other Assets
     12,273,638  
         
TOTAL ASSETS
   $ 37,170,184  
         
LIABILITIES
        
Accounts payable
   $ 1,734,405  
Royalties payable
     114,373  
Accrued expenses
     434,590  
Notes payable, current
     1,612,741  
Capital leases, current portion
     10,983  
Total Current Liabilities
     3,907,092  
Notes payable, long term
     29,784  
Capital leases, non-current portion
     11,071  
Asset retirement obligations
     967,825  
Total Long Term Liabilities
     1,008,680  
TOTAL LIABILITIES
     4,915,772  
         
EQUITY
        
Common stock
     10,000  
Additional paid in capital
     117,701,031  
Accumulated deficit
     (85,456,619 )
TOTAL EQUITY
     32,254,412  
         
TOTAL LIABILITIES AND EQUITY
   $ 37,170,184  

 
 
 

Natural Soda Holdings, Inc.
Consolidated Statements of Operations
For Eight Months ended June 30, 2009
(Unaudited)

       
Revenues
   $ 13,308,265  
Cost of sales
     (9,576,818 )
Gross profit
     3,731,447  
         
General and administrative expenses
     175,884  
Loss on impairment
     1,876,000  
Depreciation and amortization expense
     1,697,816  
Total expenses
     3,749,700  
         
Loss from operations
     (18,253 )
         
Interest expense
     (270,500 )
Interest income
     451  
Total other income (expense)
     (270,049 )
         
Net loss
   $ (288,302 )
 
The consolidated operations of Natural Soda Holdings, Inc. from July 1, 2008 through October 31, 2008 was included in the consolidated operations of the Registrant for the year ended June 30, 2009 and filed in the Registrant’s Form 10-K for such fiscal year.
 
 

AMERALIA INC Reports