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custservice@calapami.com

1-800-CAL-COMM
P.O. Box 1002 Saint Charles Avenue
New Orleans, LA
70118


  Balance Sheet

        2005
Assets        
     Cash       0
     Accounts Receivable   1,848,081
     Tax Credit     9,840,792
     Short-Term Investments   0
     Due From Country Unit(s)   XXX
     Inventories:      
          Subassemblies   10,478,536
          Finished Goods   0
     Goods in Transit     0
          Total Current Assets   22,167,409
     Capital in Progress   0
     Plant and Equipment   4,745,000
     Less Depreciation   1,813,500
          Total Fixed Assets   2,931,500
Total Assets     $25,098,909
         
Liabilities and Owner's Equity: 0
     Accounts Payable   540,535
     Overdraft     22,736,975
     Due to Home Country   XXX
     Short-Term Loan     0
          Total Current Liabilities   23,277,510
     Bonds       0
          Total Liabilities   $23,277,510
     Stockholder's Equity   0
     Common Stock     3,250,000
     Paid-In Capital     8,752,052
     Retained Earnings/Deficit   -10,180,653
     Exchange Gains/Losses   0
         Total Stockholder's Equity   $1,821,399
Total Liabilities and Owner's Equity $25,098,909

--------------------------------------------------------------   

Annual Income Statement

        2005
Revenues:      
     Gross Revenues     13,530,752
     Value-Added Tax     0
     Net Sales     13,530,752
         
     Other Income:      
          Capital Sales Gains/Losses 0
          Investment Income   0
          Licenses     0
               Non-Operating Income 0
Total Revenue     $13,530,752
         
Expenses:      
     Cost of Goods Sold   12,351,133
     Advertising     80,000
     General Administration   841,462
     Sales Offices     2,249,720
     Distribution Centers   1,400,475
     Wholesale Operations   806,644
     Sales Force Salaries   449,304
     Trainees     36,400
     Training and Development   65,000
     Inventory Charges     443,252
     Shipping     531,485
     License Fees     0
     Research and Development   120,000
     Quality Control     217,357
     Depreciation     279,000
     Maintenance     191,800
     Interest Charges:      
          Overdrafts     4,695,115
          Short-Term Loan   0
          Bonds     0
     Miscellaneous     40,550
     Total Expenses     $24,798,697
         
Income Before Taxes     -11,267,945
Income Tax     -5,295,934
Divident Tax      
Net Income     -$5,972,011
Fiscal Year July 2004-June 2005

 -------------------------------------------------------------- 

Statement of Cash Flows

        2005
Revenues:      
     Gross Revenues     13,530,752
     Value-Added Tax     0
     Net Sales     13,530,752
         
     Other Income:      
          Capital Sales Gains/Losses 0
          Investment Income   0
          Licenses     0
               Non-Operating Income 0
Total Revenue     $13,530,752
         
Expenses:      
     Cost of Goods Sold   12,351,133
     Advertising     80,000
     General Administration   841,462
     Sales Offices     2,249,720
     Distribution Centers   1,400,475
     Wholesale Operations   806,644
     Sales Force Salaries   449,304
     Trainees     36,400
     Training and Development   65,000
     Inventory Charges     443,252
     Shipping     531,485
     License Fees     0
     Research and Development   120,000
     Quality Control     217,357
     Depreciation     279,000
     Maintenance     191,800
     Interest Charges:      
          Overdrafts     4,695,115
          Short-Term Loan   0
          Bonds     0
     Miscellaneous     40,550
     Total Expenses     $24,798,697
         
Income Before Taxes     -11,267,945
Income Tax     -5,295,934
Divident Tax      
Net Income     -$5,972,011
     Depreciation     279,000
Net Cash Flow     -$5,693,011
Fiscal Year July 2004-June 2005

--------------------------------------------------------------

Pro Forma Balance Sheet

      2006 2007 2008
Assets          
     Cash     0 0 0
     Accounts Receivable 3,141,738 2,951,016 646,329
     Tax Credit   8,000,001 2,819,656 566,713
     Short-Term Investments      
     Due From Country Unit(s) XXX XXX XXX
     Inventories:        
          Subassemblies 9,287,122 6,824,546 10,053,455
          Finished Goods 0 0 0
     Goods in Transit   0   0
          Total Current Assets 20,428,860 12,595,218 11,266,497
     Capital in Progress      
     Plant and Equipment 4,745,000 6,000,000 6,000,000
     Less Depreciation 1,900,350 2,100,000 2,245,015
          Total Fixed Assets 2,844,650 3,900,000 3,754,985
Total Assets     $23,273,510 $16,495,218 $15,021,482
           
Liabilities and Owner's Equity:      
     Accounts Payable 918,910 1,102,691 2,323,230
     Overdraft   23,782,461 20,000,000 16,666,667
     Due to Home Country XXX XXX XXX
     Short-Term Loan        
          Total Current Liabilities 24,701,371 21,102,691 18,989,896
     Bonds     0 0 0
          Total Liabilities $24,701,371 $21,102,691 $17,989,896
     Stockholder's Equity      
     Common Stock   3,250,000 3,250,000 3,250,000
     Paid-In Capital   8,752,052 8,752,052 8,752,052
     Retained Earnings/Deficit -13,429,913 -16,609,525 -15,970,466
     Exchange Gains/Losses 0 0 0
         Total Stockholder's Equity -$1,427,861 -$4,607,473 -$3,968,414
Total Liabilities and Owner's Equity $23,273,510 $16,495,218 $15,021,482

   --------------------------------------------------------------

Pro Forma Income Statements

    2006 2007 2008
Revenues:      
     Gross Revenues 25,000,000 30,000,000 36,000,000
     Value-Added Tax 0 0 0
     Net Sales 25,000,000 30,000,000 36,000,000
         
     Other Income:      
          Capital Sales Gains/Losses 0 0 0
          Investment Income 0 0 0
          Licenses 0 0 0
               Non-Operating Income 0 0 0
Total Revenue $25,000,000 $30,000,000 $36,000,000
         
Expenses:      
     Cost of Goods Sold 18,750,000 21,000,000 21,600,000
     Advertising 100,000 150,000 180,000
     General Administration 850,000 800,000 820,000
     Sales Offices 1,190,000 1,500,000 2,350,000
     Distribution Centers 850,000 892,500 910,350
     Wholesale Operations 920,000 1,000,000 1,100,000
     Sales Force Salaries 800,000 1,500,000 1,039,104
     Trainees 50,000 52,500 53,550
     Training and Development 40,000 42,000 42,840
     Inventory Charges 106,881 128,257 153,909
     Shipping 903,525 1,084,229 1,301,075
     License Fees 0 0 0
     Research and Development 200,000 180,000 200,000
     Quality Control 280,000 300,000 320,000
     Depreciation 340,000 357,000 360,000
     Maintenance 250,000 300,000 320,000
     Interest Charges:      
          Overdrafts 5,456,874 6,669,381 4,000,000
          Short-Term Loan 0 0 0
          Bonds 0 0 0
     Miscellaneous 43,400 43,400 43,400
     Total Expenses $31,130,680 $35,999,268 $34,794,228
         
Income Before Taxes -6,130,680 -5,999,268 1,205,772
Income Tax -2,881,419 -2,819,656 566,713
Divident Tax      
Net Income -$3,249,260 -$3,179,612 $639,059
  Fiscal Year July-June

--------------------------------------------------------------

Pro Forma of Statement of Cash Flows

Revenues:        
     Gross Revenues   25,000,000 30,000,000 36,000,000
     Value-Added Tax   0 0 0
     Net Sales   25,000,000 30,000,000 36,000,000
           
     Other Income:        
          Capital Sales Gains/Losses 0 0 0
          Investment Income 0 0 0
          Licenses   0 0 0
               Non-Operating Income 0 0 0
Total Revenue   $25,000,000 $30,000,000 $36,000,000
           
Expenses:        
     Cost of Goods Sold 18,750,000 21,000,000 21,600,000
     Advertising   100,000 150,000 180,000
     General Administration 850,000 800,000 820,000
     Sales Offices   1,190,000 1,500,000 2,350,000
     Distribution Centers 850,000 892,500 910,350
     Wholesale Operations 920,000 1,000,000 1,100,000
     Sales Force Salaries 800,000 1,500,000 1,039,104
     Trainees   50,000 52,500 53,550
     Training and Development 40,000 42,000 42,840
     Inventory Charges   106,881 128,257 153,909
     Shipping   903,525 1,084,229 1,301,075
     License Fees   0 0 0
     Research and Development 200,000 180,000 200,000
     Quality Control   280,000 300,000 320,000
     Depreciation   340,000 357,000 360,000
     Maintenance   250,000 300,000 320,000
     Interest Charges:        
          Overdrafts   5,456,874 6,669,381 4,000,000
          Short-Term Loan 0 0 0
          Bonds   0 0 0
     Miscellaneous   43,400 43,400 43,400
     Total Expenses   31,130,680 35,999,268 34,794,228
           
Income Before Taxes   -6,130,680 -5,999,268 1,205,772
Income Tax   -2,881,419 -2,819,656 566,713
Divident Tax        
Net Income   -$3,249,260 -$3,179,612 $639,059
     Depreciation   340,000 357,000 360,000
Net Cash Flow   -$2,909,260 -$2,822,612 $999,059