Balance sheet for AMERICAN RARE EARTHS & MATERIALS, CORP. (AREM)

Balance Sheet for AMERICAN RARE EARTHS & MATERIALS, CORP.
Jun 30, 2011 Jun 30, 2010 Jun 30, 2009
Assets
Cash And Cash Equivalents 256,000 513,000 1,048,000
Short Term Investments - 252,000 -
Net Receivables 492,000 1,344,000 516,000
Inventory 537,000 919,000 1,277,000
Other Current Assets 104,000 625,000 400,000
Total Current Assets 1,390,000 3,653,000 3,240,000
Long Term Investments - - -
Property Plant and Equipment 42,000 61,000 54,000
Goodwill - - -
Intangible Assets - 3,533,000 -
Accumulated Amortization - - -
Other Assets - - -
Deferred Long Term Asset Charges - - -
Total Assets 1,432,000 7,247,000 3,294,000
Liabilities
Accounts Payable 5,530,000 3,770,000 4,112,000
Short/Current Long Term Debt - - 230,000
Other Current Liabilities 0 8,000 24,000
Total Current Liabilities 5,531,000 3,778,000 4,366,000
Long Term Debt - - 157,000
Other Liabilities - 2,224,000 399,000
Deferred Long Term Liability Charges - - -
Minority Interest - - -
Negative Goodwill - - -
Total Liabilities 5,531,000 6,002,000 4,765,000
Stockholders' Equity
Misc Stocks Options Warrants - - -
Redeemable Preferred Stock - - -
Preferred Stock 37,000 37,000 2,000
Common Stock 26,000 22,000 96,000
Retained Earnings -37,687,000 -31,239,000 -25,664,000
Treasury Stock - - -
Capital Surplus 33,524,000 32,424,000 24,066,000
Other Stockholder Equity - - -
Total Stockholder Equity -4,099,000 1,245,000 -1,471,000
Net Tangible Assets -4,099,000 -2,288,000 -1,471,000