American Defense Systems Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Sep '12 Sep 30, 2012	Dec '11 Dec 31, 2011	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007
Cash & Equivalents	0.15	0.13	0.25	-	0.37	1.43
Short-Term Investments	-	-	-	-	0.44	0.61
Cash & Short-Term Investments	0.15	0.13	0.25	-	0.81	2.04
Cash Growth	49.97%	-46.77%	-	-	-60.25%	-59.40%
Accounts Receivable	0.31	0.9	1.12	2.49	4.98	6.71
Other Receivables	0.06	0.1	0.1	0.11	-	-
Receivables	0.36	1	1.22	2.6	4.98	6.71
Inventory	0.7	1.18	1.47	7.76	7.76	5.45
Prepaid Expenses	0.11	0.1	0.4	0.33	2.09	1.86
Other Current Assets	-	0.07	1.91	-	0.74	0.42
Total Current Assets	1.32	2.48	5.25	10.69	16.38	20.61
Property, Plant & Equipment	0.28	0.46	1.65	3.08	3.74	1.13
Goodwill	-	-	-	0.66	0.45	1.68
Other Intangible Assets	-	-	-	0.61	0.61	-
Long-Term Deferred Tax Assets	0	0	-	-	1.17	-
Long-Term Deferred Charges	-	-	0.45	1.55	1.5	-
Other Long-Term Assets	0.15	0.17	2.42	0.55	0.16	0.14
Total Assets	1.76	3.11	9.77	17.53	24.94	23.55
Accounts Payable	2.44	3.06	3.18	6.7	2.48	4.35
Accrued Expenses	0.07	0.29	0.44	0.5	0.76	0.8
Short-Term Debt	-	-	-	0.05	0.08	0.05
Current Portion of Long-Term Debt	-	-	14.01	-	10.98	-
Other Current Liabilities	0.05	-	1.69	0.04	0.83	1.09
Total Current Liabilities	2.56	3.35	19.32	7.28	15.12	10.26
Long-Term Debt	-	-	-	12.43	-	-
Long-Term Deferred Tax Liabilities	-	-	0	0	-	-
Other Long-Term Liabilities	-	-	0.21	-	-	-
Total Liabilities	2.56	3.35	19.53	19.71	15.12	10.26
Common Stock	0.06	0.05	0.05	0.05	0.04	0.04
Additional Paid-In Capital	16.71	16.67	16.51	14.71	11.1	10.27
Retained Earnings	-17.56	-16.96	-26.32	-16.94	-1.32	2.98
Shareholders' Equity	-0.8	-0.24	-9.76	-2.18	9.81	13.3
Total Liabilities & Equity	1.76	3.11	9.77	17.53	24.94	23.55
Total Debt	-	-	14.01	12.48	11.06	0.05
Net Cash (Debt)	0.15	0.13	-13.76	-12.48	-10.25	1.99
Net Cash Growth	49.97%	-	-	-	-	-60.16%
Net Cash Per Share	0.00	0.00	-0.28	-0.29	-0.26	0.05
Filing Date Shares Outstanding	56.09	55.09	54.34	46.61	39.59	39.21
Total Common Shares Outstanding	55.09	54.99	54.34	46.61	39.59	39.21
Working Capital	-1.23	-0.87	-14.07	3.41	1.26	10.35
Book Value Per Share	-0.01	-0.00	-0.18	-0.05	0.25	0.34
Tangible Book Value	-0.8	-0.24	-9.76	-3.45	8.76	11.62
Tangible Book Value Per Share	-0.01	-0.00	-0.18	-0.07	0.22	0.30
Machinery	-	2.59	3.41	3.19	2.78	1.15
Leasehold Improvements	-	-	1.82	1.79	1.75	0.61
Order Backlog	-	7	14	45	57	48

Source: S&P Global Market Intelligence. Standard template. Financial Sources.