FLORHAM CONSULTING CORP - FORM 8-K/A - EX-99.9 - February 16, 2011

Attached files

file filename
8-K/A - FLORHAM CONSULTING CORPv211591_8ka.htm
EX-99.5 - FLORHAM CONSULTING CORPv211591_ex99-5.htm
EX-99.6 - FLORHAM CONSULTING CORPv211591_ex99-6.htm
EX-99.3 - FLORHAM CONSULTING CORPv211591_ex99-3.htm
EX-99.8 - FLORHAM CONSULTING CORPv211591_ex99-8.htm
EX-99.7 - FLORHAM CONSULTING CORPv211591_ex99-7.htm
EX-99.2 - FLORHAM CONSULTING CORPv211591_ex99-2.htm
EX-99.4 - FLORHAM CONSULTING CORPv211591_ex99-4.htm
EX-99.14 - FLORHAM CONSULTING CORPv211591_ex99-14.htm
EX-99.12 - FLORHAM CONSULTING CORPv211591_ex99-12.htm
EX-99.11 - FLORHAM CONSULTING CORPv211591_ex99-11.htm
EX-99.10 - FLORHAM CONSULTING CORPv211591_ex99-10.htm
EX-10.11 - FLORHAM CONSULTING CORPv211591_ex10-11.htm
EX-99.13 - FLORHAM CONSULTING CORPv211591_ex99-13.htm
 
CULINARY TECH CENTER LLC
BALANCE SHEET
SEPTEMBER 30, 2010

ASSETS
      
       
Current Assets
      
Cash
   $ 7,158  
Student tuition receivable, net of allowance for uncollectables of $3,754
     746,983  
Total current assets
     754,141  
         
Property and Equipment, at cost, net of accumulated depreciation of $2,175
     7,838  
         
Other Assets
        
Organization costs, net of accumulated amortization of $96
     514  
         
Total assets
   $ 762,493  
         
LIABILITIES AND MEMBERS' EQUITY
        
         
Current Liabilities
        
Accounts payable
   $ 56,644  
Accrued expenses payable
     34,463  
Deferred tuition revenue
     247,745  
Total current liabilities
     338,852  
         
Members' Equity
     423,641  
         
Total liabilities and members' equity
   $ 762,493  
 
 
 
 
 
CULINARY TECH CENTER LLC
STATEMENT OF INCOME
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010

Tuition and Student Fee Revenues
   $ 1,561,951  
         
Operating Costs and Expenses
        
Student instructional costs
     311,434  
Recruitment costs
     44,921  
Occupancy costs
     112,832  
General and administrative expenses
     284,190  
Total operating costs and expenses
     753,377  
         
Operating income before management fees
     808,574  
         
Related party management fees
     389,676  
         
Income before depreciation
     418,898  
         
Depreciation and amortization expense
     1,340  
         
Net income
   $ 417,558  
 
 
 
 
 
CULINARY TECH CENTER LLC
STATEMENT OF MEMBERS' EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010

Balance - January 1, 2010
   $ 47,414  
         
Capital withdrawals, net
     (41,330 )
         
Net income for the nine months ended September 30, 2010
     417,558  
         
Balance - September 30, 2010
   $ 423,642  
 
 
 
 
 
CULINARY TECH CENTER LLC
STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010

Cash Flows from Operating Activities
      
Net income
   $ 417,558  
Noncash items included in net income:
        
Amortization of organization costs
     31  
Depreciation expense
     1,309  
      418,898  
         
Changes in operating assets and liabilities
        
Decrease (increase) in assets:
        
Student tuition receivable
     (472,545 )
Prepaid expense
     939  
Security deposits
     3,523  
Increase (decrease) in liabilities:
        
Accounts payable
     18,215  
Accrued expenses payable
     25,456  
Deferred tuition revenue
     51,499  
      (372,913 )
         
Net cash provided by operating activities
     45,985  
         
Cash Flows from Investing Activities:
        
Purchase of leasehold improvements
     (500 )
         
Cash Flows from Financing Activities:
        
Capital distributions to members
     (41,330 )
         
Net increase in cash
     4,155  
         
Cash - January 1, 2010
     3,004  
         
Cash - September 30, 2010
   $ 7,159  
         
Supplemental disclosure of cash flow information:
        
Cash paid during the nine months for interest
   $ 0  
Cash paid during the nine months for income taxes
   $ 0  
 
 
 
 

FLORHAM CONSULTING CORP Reports