Hydrogen Engine Center Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2008	FY 2007	FY 2006	FY 2005	FY 2004
Period Ending	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006	Dec '05 Dec 31, 2005	Dec '04 Dec 31, 2004
Cash & Equivalents	0.04	0.71	1.15	2.35	0.02
Cash & Short-Term Investments	0.04	0.71	1.15	2.35	0.02
Cash Growth	-94.88%	-37.93%	-51.02%	11744.95%	-60.27%
Accounts Receivable	0.22	0.13	0.2	0	-
Other Receivables	-	-	-	0.13	-
Receivables	0.22	0.13	0.2	0.13	-
Inventory	0.49	1.66	2	0.21	0.1
Prepaid Expenses	0.06	0.09	0.07	0.08	0
Restricted Cash	-	0.12	0.35	-	-
Total Current Assets	0.81	2.71	3.78	2.76	0.13
Property, Plant & Equipment	3.03	3.28	3.27	2.06	0.06
Total Assets	3.84	5.99	7.05	4.82	0.19
Accounts Payable	0.34	0.15	0.5	0.24	0
Accrued Expenses	0.5	0.3	0.27	0.07	0.02
Short-Term Debt	0.58	0.59	0.57	0.26	-
Current Portion of Long-Term Debt	0.29	0.03	0.05	0.02	-
Current Portion of Leases	0.06	0.05	0.01	-	-
Current Unearned Revenue	0.12	0.03	0.17	-	-
Other Current Liabilities	0.05	0.04	0.03	0.23	-
Total Current Liabilities	1.94	1.19	1.59	0.83	0.02
Long-Term Debt	1.28	1.34	1.37	0.79	0.29
Long-Term Leases	0.02	0.08	0.04	-	-
Total Liabilities	3.24	2.6	3.01	1.62	0.31
Common Stock	0.03	0.03	0.03	0.03	0
Additional Paid-In Capital	16.43	15.86	11.16	4.84	0.14
Retained Earnings	-15.86	-12.51	-7.13	-1.38	-0.26
Comprehensive Income & Other	0	-0	-0.01	-0.28	-
Total Common Equity	0.6	3.38	4.04	3.2	-0.12
Shareholders' Equity	0.6	3.38	4.05	3.2	-0.12
Total Liabilities & Equity	3.84	5.99	7.05	4.82	0.19
Total Debt	2.23	2.09	2.04	1.08	0.29
Net Cash (Debt)	-2.19	-1.38	-0.89	1.27	-0.27
Net Cash Per Share	-0.08	-0.05	-0.04	0.07	-0.02
Filing Date Shares Outstanding	30.21	27.59	26.14	25.16	7.6
Total Common Shares Outstanding	30.16	27.59	26.14	25.16	7.6
Working Capital	-1.12	1.52	2.18	1.94	0.11
Book Value Per Share	0.02	0.12	0.15	0.13	-0.02
Tangible Book Value	0.6	3.38	4.04	3.2	-0.12
Tangible Book Value Per Share	0.02	0.12	0.15	0.13	-0.02
Land	0.47	0.47	0.47	0.2	-
Buildings	2.27	2.27	2.15	0.3	0.01
Machinery	0.9	0.91	0.76	0.28	0.07
Construction In Progress	-	-	0.06	1.32	-
Leasehold Improvements	-	-	0.02	0.02	0.01

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