HAL-PC Balance Sheet -- May 1997 (unaudited)

Jul 3, 1997                          HAL-PC                           Page 1    
12:22 am                         BALANCE SHEET                                  
                                                                                
                                                                                
                                  May/97        May/96       Inc/     %    
                               ============  ============  =====Var==== ==Var== 
                                                                                
                                     ASSETS                                     
                                                                                
  CURRENT ASSETS:                                                               
    Petty cash                      $481.64        $32.04       $449.60 1403.2% 
    Cash in bank                 339,364.11    357,793.37    -18,429.26   -5.2% 
    Clearing                         470.17          0.00        470.17         
    United States Treasury Bills  95,666.43          0.00     95,666.43         
    Accounts receivable           21,856.60     14,519.96      7,336.64   50.5% 
                               ------------  ------------  ------------         
    TOTAL CURRENT ASSETS         457,838.95    372,345.37     85,493.58   23.0% 
                               ------------  ------------  ------------         
                                                                                
  PROPERTY AND EQUIPMENT:                                                       
                                                                                
    Machinery & equipment                                                       
      Machinery & equipment        1,069.00      1,069.00          0.00    0.0% 
      Machinery & equipment      207,205.01    207,205.01          0.00    0.0% 
      Acc depr - Machinery & equip.                                             
                                -196,872.00   -184,656.00    -12,216.00   -6.6% 
                               ------------  ------------  ------------         
    TOTAL Machinery & equipment   11,402.01     23,618.01    -12,216.00  -51.7% 
                               ------------  ------------  ------------         
                                                                                
    Furniture and fixtures                                                      
      Furniture and fixtures      32,633.44     32,633.44          0.00    0.0% 
      Acc depr - Furniture & fixt.                                              
                                 -31,881.00    -31,449.00       -432.00   -1.4% 
                               ------------  ------------  ------------         
    TOTAL Furniture & fixtures       752.44      1,184.44       -432.00  -36.5% 
                               ------------  ------------  ------------         
                                                                                
    Leasehold improvements                                                      
      Leasehold improvements      10,286.85     10,286.85          0.00    0.0% 
      Acc depr - Leasehold impr.                                                
                                 -10,286.85    -10,286.85          0.00    0.0% 
                               ------------  ------------  ------------         
    TOTAL Leasehold improvements       0.00          0.00          0.00         
                               ------------  ------------  ------------         
    TOTAL PROPERTY AND EQUIPMENT  12,154.45     24,802.45    -12,648.00  -51.0% 
                               ------------  ------------  ------------         
                                                                                
  OTHER ASSETS:                                                                 
                                                                                
    Deposits                                                                    
      Geo. R. Brown special deposits   0.00      8,000.00     -8,000.00 -100.0% 
      Sheraton Astrodome deposit       0.00        500.00       -500.00 -100.0% 
      HBS Interests, Inc. - Rent   3,608.00      3,608.00          0.00    0.0% 
      4543 P. O., Inc. - Security  6,762.88          0.00      6,762.88         
                                                                                
                                                                                
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
                                                                                
Jul 3, 1997                          HAL-PC                           Page 2    
12:22 am                         BALANCE SHEET                                  
                                                                                
                                                                                
                                  May/97        May/96       Inc/     %    
                               ============  ============  =====Var==== ==Var== 
      Deposits - Gulf Presort        500.00        500.00          0.00    0.0% 
                               ------------  ------------  ------------         
    TOTAL Deposits                10,870.88     12,608.00     -1,737.12  -13.8% 
                               ------------  ------------  ------------         
                                                                                
    Prepaid expenses                                                            
      Prepaid rent - Geo. R. Brown                                              
                                  12,000.00          0.00     12,000.00         
      Prepaid rent - 4543 Post Oak                                              
                                 101,270.90          0.00    101,270.90         
                               ------------  ------------  ------------         
    TOTAL Prepaid expenses       113,270.90          0.00    113,270.90         
                               ------------  ------------  ------------         
    TOTAL OTHER ASSETS           124,141.78     12,608.00    111,533.78  884.6% 
                               ------------  ------------  ------------         
      TOTAL ASSETS              $594,135.18   $409,755.82   $184,379.36   45.0% 
                               ============  ============  ============         
                                                                                
                                  LIABILITIES                                   
                                                                                
  CURRENT LIABILITIES:                                                          
    Accounts payable              $9,877.59     $2,982.91     $6,894.68  231.1% 
    SUI payable                       30.28         70.79        -40.51  -57.2% 
    Sales tax payable                579.57      3,933.92     -3,354.35  -85.3% 
    Deferred revenue--Membership                                                
                                 237,906.67    180,488.57     57,418.10   31.8% 
    Deferred revenue-Membership CL                                              
                                   2,872.92          0.00      2,872.92         
    Deferred revenue--Presentation                                              
                                  13,123.52      3,500.00      9,623.52  275.0% 
    Deferred revenue--Vendor fees  2,875.00       -110.00      2,985.00 2713.6% 
    Deferred revenue-Internet fees                                              
                                 172,562.37     57,682.00    114,880.37  199.2% 
    Deferred monthly fees - Exempt                                              
                                   1,710.00          0.00      1,710.00         
    Deferred monthly fees - CL        60.00          0.00         60.00         
    Unfunded scholarships          1,000.00      1,000.00          0.00    0.0% 
                               ------------  ------------  ------------         
    TOTAL CURRENT LIABILITIES    442,597.92    249,548.19    193,049.73   77.4% 
                               ------------  ------------  ------------         
      TOTAL LIABILITIES          442,597.92    249,548.19    193,049.73   77.4% 
                               ------------  ------------  ------------         
                                                                                
                                  FUND BALANCE                                  
                                                                                
    Earnings from prior years    160,207.63     82,424.82     77,782.81   94.4% 
    Current revenue over (under) expense                                        
                                  -8,670.37     77,782.81    -86,453.18 -111.1% 
                               ------------  ------------  ------------         
                                                                                
                                                                                
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
                                                                                
Jul 3, 1997                          HAL-PC                           Page 3    
12:22 am                         BALANCE SHEET                                  
                                                                                
                                                                                
                                  May/97        May/96       Inc/     %    
                               ============  ============  =====Var==== ==Var== 
    TOTAL FUND BALANCE           151,537.26    160,207.63     -8,670.37   -5.4% 
                               ------------  ------------  ------------         
                                                                                
      TOTAL LIABILITIES & FUND BALANCE                                          
                                $594,135.18   $409,755.82   $184,379.36   45.0% 
                               ============  ============  ============         
                                                                                
                          FOR DISCUSSION PURPOSES ONLY                          
 

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