|
 |
STATEMENT OF CONDITION AS OF DECEMBER
31, 2002
MOVEMENT OF CASH
| CASH IN |
|
|
| Balance
as of December 31, 2001 |
$25,351 |
|
| Donations Received |
$536,473 |
|
| Loan From Gerardo Joffe |
$35,000 |
|
| Loan from Jomira/Advance |
$8,250 |
|
| Interest Income |
$55 |
|
| List Rental & Royalty Income |
$15,612 |
|
| TOTAL: |
$620,741 |
|
| CASH OUT |
|
|
| Ads in Media |
$331,052 |
|
| Direct Mail -- Acquisitional |
$33,416 |
|
| Direct Mail -- Educational |
$22,277 |
|
| Typing, Printing, Reproduction |
$14,543 |
|
| Accounting |
$1,660 |
|
| Office Expenses (Phone, Postage,
Rent and Administrative Personnel) |
$51,998 |
|
| Management, Advertising
& Professional Services |
N/C
(1) |
|
| Legal Services |
N/C (2) |
|
Loan Repayment to Jomira/Advance
(balance of 12/31/01) |
$ 163,635 |
|
| Cash in Bank as of December
31, 2001 |
$2,160 |
|
| TOTAL: |
$620,741 |
|
BALANCE SHEET
| ASSETS |
|
|
| Cash in
Bank, as of December 31, 2002 |
$2,160 |
|
| Computer Software |
$1,543 |
|
| TOTAL ASSETS: |
$3,703 |
|
| LIABILITIES AND NET WORTH |
|
|
| Due to
Jomira/Advance |
$8,250 |
|
| Due to
Gerardo Joffe |
$35,000 |
|
| Net Worth |
$(39,547) |
|
| TOTAL LIABILITIES
AND NET WORTH: |
$3,703 |
|
(1) These services supplied without charge by Gerardo Joffe.
Jomira/Advance (Gerardo Joffe, President), receives a (reduced) commission
on advertising placed. Jomira/Advance also receives a monthly contribution
to office expenses.
(2) These services supplied without charge by Wilbur Duberstein,
Esq.
NOTE: FLAME has paid no executive and managerial
salaries since its inception and operates with minimum overhead expenses.
|
|
