| HYPERBARIC OXYGENATION CORPORATION | |||||
| CONSOLIDATED BALANCE SHEET | |||||
| As At September 30 | 2003 | 2002 | |||
| (Expressed in U.S. dollars) | |||||
| ASSETS | |||||
| Current | |||||
| Bank | $ | 12,327 | $ | 26,418 | |
| Accounts Receivable | 27,784 | 16,801 | |||
| Sales taxes receivable | (6,293) | 604 | |||
| Loan | 73,491 | ||||
| Inventory | 19,641 | 63,070 | |||
| Deposits | 2,312 | 13,014 | |||
| Prepaid Expenses | 500 | 983 | |||
| 56,271 | 194,381 | ||||
| Investments | 1,000,000 | 250,000 | |||
| Capital | 287,149 | 1,044,145 | |||
| TOTAL ASSETS | $ | 1,343,420 | $ | 1,488,526 | |
| LIABILITIES AND STOCKHOLDERS EQUITY | |||||
| Current Liabilities | |||||
| Bank Overdraft | $ | $ | |||
| Accounts payable | 536,594 | 375,135 | |||
| Deferred Revenue | 417 | 625 | |||
| Due to Related Parties | 148,108 | 23,642 | |||
| 685,119 | 399,402 | ||||
| Stockholder's Equity | |||||
| Common stock | |||||
| 1,000,000,000 Common shares with | |||||
| a par value of $.001 each | |||||
| 26,457,001 issued and outstanding | |||||
| (26,457,001 shares in 2001) | 26,457 | 26,457 | |||
| Additional paid in capital | 3,808,727 | 3,759,296 | |||
| Accumulated Deficit | (3,176,883) | (3,380,039) | |||
| 658,301 | 379,257 | ||||
| TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $ | 1,343,420 | $ | 805,116 | |
| HYPERBARIC OXYGENATION CORPORATION | |||||
| CONSOLIDATED STATEMENT OF OPERATIONS AND ACCUMULATED DEFICT | |||||
| As At September 30 | 2003 | 2002 | |||
| (Expressed in U.S. dollars) | |||||
| Sales | $ | 1,020,829 | $ | 521,636 | |
| Cost of Goods Sold | 437,554 | 637,078 | |||
| Gross Profit (loss) | 583,275 | (151,440) | |||
| Selling Expenses | $ | 24,961 | $ | 36,312 | |
| Administrative Expenses | |||||
| Advertising & Pormotion | 39,166 | 86,371 | |||
| Amortization | 44,901 | 49,362 | |||
| Automobile | 5,180 | 8,676 | |||
| Bad Debts | 66,741 | 2,637 | |||
| Bank Charges and Interest | 10,318 | 21,481 | |||
| Insurance & Permits | 1,043 | 11,893 | |||
| Management fees | 30875 | 54467 | |||
| Office & sundry | 21,666 | 41,730 | |||
| Professional Fees | 14083 | 27125 | |||
| Regulatory Fees | 3,101 | 4,621 | |||
| Rent & Utilities | 67426 | 272536 | |||
| Repairs & maintenance | 12,198 | 17,232 | |||
| Start up costs | 6649 | 13648 | |||
| Supplies | 11,021 | 18,441 | |||
| Telephone | 17212 | 32733 | |||
| Travel and Accomodation | 2,641 | 43,267 | |||
| Translation loss | 937 | 1,610 | |||
| Total Expenses (Selling & Administration) | 380,119 | 744,142 | |||
| Net Profit (Loss) | $ | 203,156 | $ | (895,582) | |
| Accumulated Deficit, Beginning of Year | 3,380,039 | 2,584,049 | |||
| Accumulated Deficit, End of Year | 3,176,883 | 3,380,039 | |||
| Net Loss Per Common Share | 0.08 | 0.03 | |||
| Weighted Average Number of | |||||
| Common Shares Outstanding | 26,457,001 | 26,457,001 | |||