MCL400G 10/06/99 14:45:37 PAGE 1 STATEMENT GENERATOR
CLEAN AIR ENGINEERING, INC.
BALANCE SHEET - SEPTEMBER 1999	Sep-99
CURRENT BALANCE CAT. SUB TOTALS
ASSETS
CURRENT ASSETS
CASH IN BANK	($18,893.52)
CASH - FRANCE	$11,348.44
PETTY CASH	$1,070.00
------------------- -------------------
TOTAL CASH	($6,475.08)
ACCOUNTS RECEIVABLE	$2,238,292.27
UNBILLED RECEIVABLE	$106,619.00
ALLOWANCE FOR DOUBTFUL ACCOUNTS	($43,000.00)
ACCOUNTS RECEIVABLE - FRANCE	$198,906.39
OTHER RECEIVABLE	$8,225.86
INTERCOMPANY A/R - FRANCE	$67,438.59
INVENTORY	$291,914.71
RESERVE FOR OBSOLESCENCE	($10,058.93)
PREPAID - OTHER	$59,344.43
PREPAID INSURANCE-GENERAL	$21,738.70
PREPAID INSURANCE-GROUP	($19,993.98)
EXPENSE ADVANCES	$6,938.09
------------------- -------------------
TOTAL CURRENT ASSETS	$2,919,890.05	$2,919,890.05
FIXED ASSETS
COST		Asset Book Value
LAND & BUILDINGS	$5,596,602.30	$4,222,228.80
COMPUTER EQUIPMENT	$184,641.85	$151,349.93
LEASEHOLD IMPROVEMENTS	$32,386.87	$8,432.20
MACHINERY & EQUIPMENT	$2,112,145.50	$84,623.59
FURNITURE & FIXTURES	$487,117.24	$52,605.63
VEHICLES	$294,126.19	$2,342.96
RENTAL EQUIPMENT	$5,263,085.37	$1,015,337.12
------------------- -------------------
TOTAL	$13,970,105.32	$5,536,920.23
ACCUMULATED DEPRECIATION
LAND & BUILDINGS	($1,374,373.50)
COMPUTER EQUIPMENT	($33,291.92)
LEASEHOLD IMPROVEMENTS	($23,954.67)
MACHINERY & EQUIPMENT	($2,027,521.91)
FURNITURE & FIXTURES	($434,511.61)
VEHICLES	($291,783.23)
RENTAL EQUIPMENT	($4,247,748.25)
------------------- -------------------
TOTAL	($8,433,185.09)
TOTAL NET FIXED ASSETS	$5,536,920.23
OTHER ASSETS
DEPOSITS	$35,600.12
INTANGIBLE ASSETS	$45,628.52
------------------- -------------------
TOTAL OTHER ASSETS	$81,228.64
------------------- -------------------
TOTAL ASSETS	$8,538,038.92
=================== ===================
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE	$392,154.31
ACCOUNTS PAYABLE - FRANCE	$33,714.11
INTERCOMPANY A/P - FRANCE	$67,438.59
LOAN PAYABLE - WORKING CAPITAL	$746,000.00
LOAN PAYABLE - EQUIPMENT LINE	$91,300.00
OBLIGATIONS UNDER CAPITAL LEASES	$38,587.80
MORTGAGE - CURRENT PORTION	$159,999.96
EQUIPMENT TERM LOANS - CURRENT	$413,333.28
FRANCE TERM LOAN - CURRENT	$16,814.85
ACCUMULATED SALARIES PAYABLE	$50,147.00
ACCRUED VACATION PAY	$238,074.71
WITHHELD SOCIAL SECURITY TAX	$17,592.18
WITHHELD FEDERAL INC TAX	$19,485.23
ACCRUED UNEMPL TAX (FEDERAL & STATE)	$60.82
GROUP INSURANCE DEDUCTIONS	$1,104.69
401K P/R DEDUCTIONS & CONTRIBUTIONS	$22,188.18
ACCRUED AUDIT FEES	$21,625.00
ACCRUED PROPERTY TAX	$251,983.70
ACCRUED CORPORATE TAX	$6,000.00
ACCRUED EXPENSES - MISC.	$28,370.00
ACCRUED EXPENSES - FRANCE	$55,871.68
------------------- -------------------
TOTAL CURRENT LIABILITIES	$2,671,846.09	$2,671,846.09
LONG TERM DEBT
MORTGAGE-NONCURRENT	$2,813,333.43
EQUIPMENT TERM LOANS-NONCURRENT	$354,323.52
OBLIGATIONS UNDER CAPITAL LEASES	$5,844.69
FRANCE TERM LOAN-NONCURRENT	$27,325.93
------------------- -------------------
TOTAL LONG TERM DEBT	$3,200,827.57	$3,200,827.57
------------------- -------------------
TOTAL LIABILITIES	$5,872,673.66
CORPORATE EQUITY
COMMON STOCK ISSUED	$12,284.00
ADDITIONAL PAID IN CAPITAL	$421,612.43
RETAINED EARNINGS	$1,148,879.31
NOTES REC FROM SHAREHOLDERS	($1,687.21)
CURRENT YEAR PROFIT(LOSS)	$1,084,276.73
------------------- -------------------
TOTAL CORPORATE EQUITY	$2,665,365.26	$2,665,365.26
TOTAL LIABILITIES & EQUITY	$8,538,038.92
=================== ===================