Attached files
file | filename |
---|---|
8-K - FORM 8-K - THERMOENERGY CORP | v231483_8k.htm |
EX-3.(I) - EXHIBIT 3(I) - THERMOENERGY CORP | v231483_ex3-i.htm |
EX-3.(II) - EXHIBIT 3(II) - THERMOENERGY CORP | v231483_ex3-ii.htm |
The following is a pro forma balance sheet for the Company as of June 30, 2011, assuming that the transactions reported in this Current Report on Form 8-K had taken place on June 30, 2011:
Actual
June 30, 2011
|
Pro forma
Adjustments
|
Pro forma
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||||||||||
ASSETS
|
||||||||||||
Current Assets:
|
||||||||||||
Cash
|
$
|
2,210
|
$
|
(1,568
|
)
|
1
|
$
|
2,243
|
||||
1,601
|
3
|
|||||||||||
Accounts receivable, net
|
710
|
710
|
||||||||||
Inventories, net
|
136
|
136
|
||||||||||
Other current assets
|
632
|
632
|
||||||||||
Total Current Assets
|
3,688
|
33
|
3,721
|
|||||||||
Property and equipment, net
|
607
|
607
|
||||||||||
Other assets
|
36
|
36
|
||||||||||
Total Assets
|
$ |
4,331
|
$
|
33
|
$
|
4,364
|
||||||
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
|
||||||||||||
Current Liabilities:
|
||||||||||||
Accounts payable
|
$
|
2,023
|
$
|
$
|
2,023
|
|||||||
Convertible debt
|
6,726
|
(3,110
|
)
|
1
|
—
|
|||||||
1,986
|
2
|
|||||||||||
(5,712
|
)
|
3
|
||||||||||
110
|
4
|
|||||||||||
Accrued payroll taxes
|
949
|
949
|
||||||||||
Deferred revenue
|
1,225
|
1,225
|
||||||||||
Other current liabilities
|
1,568
|
(26
|
)
|
1
|
1,445
|
|||||||
(97
|
)
|
3
|
||||||||||
Total Current Liabilities
|
12,491
|
(6,849
|
)
|
5,642
|
||||||||
Long Term Liabilities:
|
||||||||||||
Derivative liability
|
1,796
|
(70
|
)
|
3
|
1,726
|
|||||||
Convertible debt, net of current portion
|
1,415
|
1,415
|
||||||||||
Other long term liabilities
|
282
|
282
|
||||||||||
Total Long Term Liabilities
|
3,493
|
(70
|
)
|
3,423
|
||||||||
Total Liabilities
|
15,984
|
(6,919
|
)
|
9,065
|
||||||||
Stockholders' Deficiency:
|
||||||||||||
Preferred Stock:
|
||||||||||||
Class A Preferred Stock
|
2
|
2
|
||||||||||
Class B Preferred Stock
|
63
|
6
|
1
|
126
|
||||||||
57
|
3
|
|||||||||||
Common Stock
|
57
|
57
|
||||||||||
Additional paid-in capital
|
84,890
|
1,562
|
1
|
95,442
|
||||||||
8,990
|
3
|
|||||||||||
Accumulated deficit
|
(96,645
|
)
|
(1,986
|
)
|
2
|
(100,308
|
)
|
|||||
(1,567
|
)
|
3
|
||||||||||
(110
|
)
|
4
|
||||||||||
Treasury stock
|
(18
|
)
|
(18
|
)
|
||||||||
Total ThermoEnergy Corporation Stockholders’ Deficiency
|
(11,651
|
)
|
6,952
|
(4,699
|
)
|
|||||||
Noncontrolling interest
|
(2
|
)
|
(2
|
)
|
||||||||
Total Stockholders’ Deficiency
|
(11,653
|
)
|
6,952
|
(4,701
|
)
|
|||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
|
$
|
4,331
|
$
|
33
|
$
|
4,364
|
1
|
Reflects prepayment of CASTion Notes and automatic conversion of remaining principal and accrued interest to Series B Convertible Preferred Stock as effected on July 1, 2011.
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2
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Reflects write-off of unamortized debt discount on CASTion Notes to Loss on Extinguishment of Debt on July 1, 2011.
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3
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Reflects additional funding effected July 12, 2011 pursuant to the amended Bridge Loan and Warrant Amendment Agreement, repricing of warrants pursuant to this Agreement, conversion of the outstanding principal and accrued interest of 2010 Bridge Notes to Series B Convertible Preferred Stock and issuance of Series B Convertible Preferred Stock upon exercise of warrants and cancellation of 2011 bridge loans in payment of the warrant exercise price, all as effected on August 11, 2011.
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4
|
Reflects write-off of unamortized debt discount on 2010 Bridge Notes to Loss on Extinguishment of Debt on August 11, 2011.
|