GENERAL INFORMATION

Littlefield, Adams & Company (the "Registrant", the "Company" or "Littlefield") is a New Jersey corporation which was organized in 1949. The Registrant is principally engaged in the design, imprinting, and distribution of young men's and boys' active wear products under various license agreements. Effective September 1, 1999, the Company decided to completely outsource its imprinting of apparel, and, effective April 11, 2000, totally outsource its artwork and sales. The Company also designs and markets apparel products with generic and proprietary artwork. The accompanying financial statements include the accounts of Littlefield, Adams & Company and...