| Balance Sheet for QSGI Inc. (QSGI) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Cash and Equivalents | 128 | 633 | 154 | 845 | 270 | | Marketable Securities | - | - | - | - | - | | Receivables | 3,853 | 8,012 | 7,014 | 3,732 | 260 | | Inventories | 6,578 | 4,983 | 4,136 | 2,722 | 358 | | Other Current Assets | - | - | - | - | - | | Total Current Assets | 10,723 | 14,410 | 11,687 | 7,531 | 950 | | | Gross Fixed Assets | 1,300 | 1,314 | 1,176 | 825 | 357 | | Accumulated Depreciation | (1,013) | (904) | (570) | (273) | (93) | | Net Fixed Assets | 287 | 410 | 606 | 553 | 263 | | Intangibles | 498 | 2,556 | 2,872 | 3,189 | 24 | | Other Non-Current Assets | 421 | 159 | 116 | 90 | 41 | | Total Non-Current Assets | 2,695 | 9,769 | 6,807 | 5,940 | 441 | | Total Assets | 13,417 | 24,179 | 18,494 | 13,471 | 1,391 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Accounts Payable | 1,110 | 1,382 | 2,254 | 1,591 | 269 | | Short Term Debt | 3,754 | 3,916 | 3,632 | 1,156 | 8 | | Other Current Liabilities | 312 | 123 | 29 | 123 | - | | Total Current Liabilities | 6,359 | 6,870 | 6,863 | 4,171 | 714 | | | Long Term Debt | - | - | - | 255 | 500 | | Deferred Income Tax | 27 | 452 | 280 | - | - | | Other Non-Current Liabilities | 143 | 416 | - | - | - | | Minority Interest | - | - | - | - | - | | Total Non-Current Liabilities | 4,409 | 5,088 | 2,248 | 255 | 503 | | Total Liabilities | 10,768 | 11,958 | 9,110 | 4,426 | 1,217 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 2,650 | 12,220 | 9,384 | 9,044 | 174 | | Total Equity | 2,650 | 12,220 | 9,384 | 9,044 | 174 | | Total Liabilities & Stock Equity | 13,417 | 24,179 | 18,494 | 13,471 | 1,391 | | | |
