Vartech Systems Inc. (VRTK)

Vartech Systems Balance Sheet

Financials in millions USD. Fiscal year is August - July.

Fiscal Year	TTM	FY 2003	FY 2002	FY 2001	FY 2000	FY 1999
Period Ending	Oct 31, 2003	Jul 31, 2003	Jul 31, 2002	Jul 31, 2001	Jul 31, 2000	Jul 31, 1999
Cash & Equivalents	0.07	0.12	0.03	0.08	0.02	0.03
Cash & Short-Term Investments	0.07	0.12	0.03	0.08	0.02	0.03
Cash Growth	-64.50%	244.06%	-57.45%	420.58%	-48.62%	-49.26%
Accounts Receivable	0.69	0.63	0.67	0.57	0.5	0.49
Other Receivables	-	-	-	0	0.02	0.07
Receivables	0.69	0.63	0.67	0.57	0.53	0.56
Inventory	0.88	0.92	0.8	0.4	0.2	0.22
Prepaid Expenses	-	-	-	-	-	0.01
Total Current Assets	1.64	1.67	1.5	1.05	0.75	0.86
Property, Plant & Equipment	0.09	0.1	0.1	0.23	0.31	0.35
Other Long-Term Assets	0.01	0.01	0.01	0.01	0.11	0.11
Total Assets	1.74	1.78	1.61	1.29	1.18	1.33
Accounts Payable	0.35	0.34	0.28	0.16	0.2	0.22
Accrued Expenses	0.1	0.13	0.1	0.12	0.09	0.1
Short-Term Debt	0.13	0.08	0.33	0.29	0.34	0.34
Current Portion of Long-Term Debt	0.01	0.01	-	-	-	0.06
Current Income Taxes Payable	0.06	0.03	0.07	0.03	-	-
Total Current Liabilities	0.64	0.59	0.78	0.6	0.63	0.72
Long-Term Debt	0.03	0.03	-	-	-	0.05
Long-Term Deferred Tax Liabilities	0.02	0.02	0.01	0.03	0.03	0.02
Other Long-Term Liabilities	-	-	-	-	-	0.02
Total Liabilities	0.68	0.63	0.79	0.63	0.66	0.8
Common Stock	0	0	0	0	0	0
Additional Paid-In Capital	0.7	0.7	0.7	0.7	0.7	0.7
Retained Earnings	0.52	0.44	0.26	0.1	-0.04	-0.18
Treasury Stock	-0.17	-	-0.15	-0.15	-0.15	-
Shareholders' Equity	1.06	1.15	0.82	0.65	0.51	0.52
Total Liabilities & Equity	1.74	1.78	1.61	1.29	1.18	1.33
Total Debt	0.16	0.11	0.33	0.29	0.34	0.45
Net Cash (Debt)	-0.09	0	-0.3	-0.21	-0.33	-0.42
Net Cash Per Share	-0.04	0.00	-0.15	-0.11	-0.16	-0.21
Filing Date Shares Outstanding	1.97	2.1	1.95	1.95	1.95	2.1
Total Common Shares Outstanding	1.97	2.1	1.95	1.95	1.95	2.1
Working Capital	1	1.09	0.72	0.45	0.12	0.14
Book Value Per Share	0.54	0.55	0.42	0.33	0.26	0.25
Tangible Book Value	1.06	1.15	0.82	0.65	0.51	0.52
Tangible Book Value Per Share	0.54	0.55	0.42	0.33	0.26	0.25
Buildings	-	0.01	0.01	0.01	0.01	0.01
Machinery	-	0.45	0.4	0.52	0.52	0.48
Leasehold Improvements	-	0.01	0.01	0.01	0.01	0.01

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