Attached files
| file | filename |
|---|---|
| 8-K/A - Umami Sustainable Seafood Inc. | v217676_8ka.htm |
| EX-99.3 - Umami Sustainable Seafood Inc. | v217676_ex99-3.htm |
| EX-99.4 - Umami Sustainable Seafood Inc. | v217676_ex99-4.htm |
| EX-99.2 - Umami Sustainable Seafood Inc. | v217676_ex99-2.htm |
| EX-99.6 - Umami Sustainable Seafood Inc. | v217676_ex99-6.htm |
Oceanic Enterprises, Inc.
Statements of Financial Position
As of 6/30/2010
(unaudited)
(in thousands)
|
Oceanic
|
||||
|
Current assets:
|
||||
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Cash and cash equivalents
|
$ | 260 | ||
|
Accounts receivable, trade
|
2,166 | |||
|
Accounts receivable, related party
|
4,471 | |||
|
Inventories
|
15 | |||
|
Other current assets
|
49 | |||
|
Total current assets
|
6,961 | |||
|
Property and equipment, net
|
97 | |||
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Other assets
|
547 | |||
|
Total assets
|
$ | 7,605 | ||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||
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Current liabilities:
|
||||
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Borrowings from shareholder
|
$ | 914 | ||
|
Accounts payable, trade
|
231 | |||
|
Accounts payable to related parties
|
4,902 | |||
|
Accrued liabilities
|
19 | |||
|
Total current liabilities
|
6,066 | |||
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Long term notes payable
|
1,021 | |||
|
Total liabilities
|
7,087 | |||
|
Commitments and contingencies
|
||||
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Stockholders’ equity:
|
||||
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Common stock
|
10 | |||
|
Additional paid-in capital
|
1,000 | |||
|
Retained earnings
|
(492 | ) | ||
|
Accumulated other comprehensive income
|
- | |||
|
Total Oceanic stockholders’ equity
|
518 | |||
|
Total liabilities and stockholders’ equity
|
$ | 7,605 | ||
Oceanic Enterprises, Inc.
Statements of Operations
Six months ended 6/30/2010 and 6/30/2009
(unaudited)
(in thousands)
|
6/30/2010
|
6/30/2009
|
|||||||
|
Net revenue
|
$ | 1,200 | $ | 9,907 | ||||
|
Cost of goods sold
|
- | (9,069 | ) | |||||
|
Gross profit
|
1,200 | 838 | ||||||
|
Selling, general and administrative expenses
|
(912 | ) | (1,077 | ) | ||||
|
Operating income (loss)
|
288 | (239 | ) | |||||
|
Exchange gains
|
- | 115 | ||||||
|
Interest expense
|
(69 | ) | (91 | ) | ||||
|
Income (loss) before provision for income taxes
|
219 | (215 | ) | |||||
|
Income tax provision
|
- | - | ||||||
|
Net income (loss)
|
$ | 219 | $ | (215 | ) | |||
Oceanic Enterprises, Inc.
Statement of Cash Flow
Six months ended 6/30/2010 and 6/30/2009
(unaudited)
(in thousands)
|
Six months ended
|
Six months ended
|
|||||||
|
June 30, 2010
|
June 30, 2009
|
|||||||
|
Operating Activities
|
||||||||
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Net income (loss)
|
$ | 219 | $ | (215 | ) | |||
|
Adjustments to reconcile to net cash used in operating activities:
|
||||||||
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Depreciation
|
- | - | ||||||
|
Deferred income taxes
|
(431 | ) | (492 | ) | ||||
|
Changes in assets and liabilities:
|
||||||||
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Accounts receivable, trade
|
(1,520 | ) | (364 | ) | ||||
|
Accounts receivable, shareholder and other related party
|
(1,614 | ) | 748 | |||||
|
Inventories
|
(9 | ) | (2 | ) | ||||
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Other current assets
|
391 | 500 | ||||||
|
Accounts payable, trade
|
(33 | ) | (160 | ) | ||||
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Accounts payable to shareholder and other related parties
|
3,418 | 1,177 | ||||||
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Accrued liabilities
|
(161 | ) | (45 | ) | ||||
|
Net cash provided by operating activities
|
260 | 1,147 | ||||||
|
Investing activities
|
||||||||
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Purchases of property and equipment
|
(3 | ) | (6 | ) | ||||
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Sale of fixed assets
|
- | - | ||||||
|
Net cash used in investing activities
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(3 | ) | (6 | ) | ||||
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Financing activities
|
||||||||
|
Borrowings from shareholder
|
914 | - | ||||||
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Borrowings from unrelated party
|
- | 100 | ||||||
|
Repayments of note payable to shareholder
|
(918 | ) | (1,394 | ) | ||||
|
Net cash used in financing activities
|
(4 | ) | (1,294 | ) | ||||
|
Subtotal
|
253 | (153 | ) | |||||
|
Cash and cash equivalents at beginning of year
|
7 | 2,995 | ||||||
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Cash and cash equivalents at end of period
|
$ | 260 | $ | 2,842 | ||||