stock based compensation - Research & development: $167,837; 3 Including stock based compensation - Research & development:

Transcription

1 MERGENT INDUSTRIAL NEWS REPORTS Friday, February 26, 2016 Volume 87 No. 2 NEW COMPANY DESCRIPTIONS (For details on individual listings, see the News Section of this issue) Implanet SA NAME CHANGES (For details on individual listings, see the News Section of this issue) Eagleford Energy Corp (to Intelligent Content Enterprises Inc) 22ND CENTURY GROUP INC ($): Royalties from licensing ,000,000 Sale of products ,521, , ,383 Total revenue ,521, ,991 7,278,383 Cost of goods sold - royalties for licensing , ,566 Cost of goods sold - products ,102, ,002 48,105 Cost of goods sold... 9,102, , ,671 Gross profit (loss).... (580,562) 30,555 6,816,712 Research & development ,669, ,249, ,230 General & ,760, ,823, ,106,694 Pre-manufacturing facility costs ,176, Sales & marketing costs ,357,518 85,930 9,052 Depreciation , ,012 3,028 Amortization , , ,261 Total operating expenses ,463,321 11,797,919 5,004,265 Operating income (loss) (12,043,883) (11,767,364) 1,812,447 Warrant liability income (loss) - net ,550 (3,676,691) (23,602,711) Warrant amendment inducement expense..... (144,548) (3,736,313) Litigation proceeds... 1,000, Gain on the sale of machinery & equipment (15,130) 71, Gain (loss) on equity investment.... (95,684) (101,165)... Income tax credit refund ,024 Interest income ,198 30, Interest expense ,982 7, ,605 Total other income (expense) ,011,952 (3,827,994) (27,965,605) before.. (11,031,931) (15,595,358) (26,153,158).... (11,031,931) (15,595,358) (26,153,158) attributed to common shareholders (11,031,931) (15,595,358) (26,153,158) - basic ,143,284 59,993,413 43,635,182 - diluted ,143,284 59,993,413 43,635,182 NOTICE Items in this issue will be listed online weekly and printed monthly. outstanding ,006,844 64,085,042 56,902,770 per share - basic..... $(0.16) $(0.26) $(0.60) per share - diluted.... $(0.16) $(0.26) $(0.60) Reclassified to conform with presentation; 2 Including stock based compensation - Research & development: $167,837; 3 Including stock based compensation - Research & development: $331,467; 4 Including stock based compensation - Research & development: $111,563; 5 Including stock based compensation - General & : $3,376,664; 6 Including stock based compensation - General & : $4,165,078; 7 Including stock based compensation - General & : $2,250,399; 8 Including share based compensation - Premanufacturing facility costs: $27,923; 9 Including stock based compensation - Sales & marketing costs: $41,039; 10 As of February 16, 2016; 11 As of February 4, ; 12 As of January 28, 2014 Consolidated Balance Sheet, Years Ended Dec. 31 ($): Cash ,760,297 6,402,687 Accounts receivable, net , Due from related party ,069 Inventory - tobacco leaf ,816,857 1,537,521 Inventory - finished goods - cigarettes & filtered cigars , ,568 Inventory - raw materials - cigarette & filtered cigar components , ,330 Total inventory ,816,953 2,115,419 Less: inventory reserves ,623 50,623 Inventory, net ,706,330 2,064,796 Prepaid consulting fees ,978,785 Prepaid expenses & other current assets , ,469 assets ,227,948 10,706,806 Cigarette manufacturing equipment ,016,246 3,031,375 Office furniture, fixtures & equipment ,361 55,355 equipment, gross ,111,607 3,086,730 depreciation - machinery & equipment , ,115 Machinery & equipment, net ,555,793 2,850,615 Intangible assets, net ,364,120 7,077,759 Equity investment ,222,651 1,318,335 Total assets ,370,512 21,953,515 Demand bank loans ,925 Current portion of note payable , ,513 Accounts payable ,283, ,412 Accrued expenses ,423,531 1,081,545 Accrued severance , ,012 liabilities ,236,120 2,673,407 Long term portion of notes payable , ,217 Long-term portion of accrued severance , ,308 Warrant liability ,898,296 3,042,846 Total liabilities ,642,012 6,733,778 Common shares Capital in excess of par value ,284,815 70,744,190 (accumulated deficit) (66,557,025) (55,525,094) Total shareholders equity (deficit) ,728,500 15,219,737 1 Reclassified to conform with presentation 22ND CENTURY GROUP INC Auditor s Report Auditor s Comment The following is an excerpt from the Report of the Independent Auditors, Freed Maxick CPAs, P.C., as it appeared in Co. s 10-K: "A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company s annual or interim financial statements will not be prevented or detected on a timely basis. The following material weaknesses have been identified and included in management s assessment. Material weaknesses related to financial closing and reporting process. The Company had inadequate segregation of duties consistent with control objectives. The CompanyŠs corporate and financial reporting function is currently composed of a small number of individuals resulting in situations where limitations on segregations of duties exist. As a result we noted instances whereby individuals performed aspects of the financial reporting process which are incompatible duties, including but not limited to access to the underlying records and system, the ability to post and record journal entries, the responsibility to perform and review account reconciliations as well as the responsibility for the preparation of the financial statements. These material weaknesses were considered in determining the nature, timing, and extent of audit tests applied in our audit of the financial statements, and this report does not affect our report dated February 16, 2016 on those financial statements. In our opinion, because of the effect of the material weaknesses described above on the achievement of the objectives of the control criteria, the Company has not maintained effective internal control over financial reporting as of December 31,, based on criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets as of December 31, and 2014 and the related consolidated statements of operations, changes in shareholdersš equity and cash flows of the Company for each of the years in the three year period ending December 31, and our report dated February 18, 2016 expressed an unqualified opinion." 3M CO ($Millions): Net sales ,274 31,821 30,871 Cost of sales ,383 16,447 16,106 expenses ,182 6,469 6,384 Research,

2 48 MERGENT INDUSTRIAL NEWS February 26, 2016 development & related expenses ,763 1,770 1,715 Total operating expenses ,328 24,686 24,205 Operating income.... 6,946 7,135 6,666 Interest expense Interest income Total interest income (expense), net (123) (109) (104) Income before - United States ,399 3,815 3,194 Income before - International ,424 3,211 3,368 Income before ,823 7,026 6,562 Current income taxes (benefit) - federal ,338 1, Current income taxes (benefit) - state Current income taxes (benefit) - international , Deferred income taxes (benefit) - federal (55) (171) (123) Deferred income taxes (benefit) - state (9) (2) Deferred income taxes (benefit) - international (11) 26 Provision for ,982 2,028 1,841 Net income including noncontrolling interest ,841 4,998 4,721 Less: net income noncontrolling interest (8) (42) (62) Net income 3M Company ,833 4,956 4,659 - basic diluted outstanding per share - basic..... $7.72 $7.63 $6.83 per share - diluted.... $7.58 $7.49 $6.72 Cash dvidends paid per common share... $4.10 $3.42 $2.54 adjustments (586) Number of full time 1 89, , , , , ,440 1 As is; 2 Full-time equivalent employees; 3 At January 31, 2016; 4 As of January 31, ; 5 As of January 31, 2014 Consolidated Balance Sheet, Years Ended Dec. 31 ($Millions): Cash & cash equivalents ,798 1,897 Marketable securities - current ,439 Accounts receivable, gross ,245 4,332 Less allowances Accounts receivable - net ,154 4,238 Finished goods ,655 1,723 Work in process ,008 1,081 Raw materials & supplies Total inventories ,518 3,706 Prepaid expenses & other current assets , Derivative assets-current Insurance related receivables, prepaid expenses & other current assets assets ,986 12,303 Marketable securities - non-current Equity-method invesments Cost method Other investments Land Buildings & leasehold improvements ,120 6,943 Machinery & equipment ,743 14,684 Construction in progress Capital leases equipment, gross ,098 22,841 depreciation ,583 14,352 equipment, net ,515 8,489 Goodwill ,249 7,050 Intangible assets - net ,601 1,435 Prepaid pension benefits Deferred ,130 Insurance related receivables & other assets Cash surrender value of life insurance policies Other assets Total assets ,718 31,209 Current portion of long-term debt , Other short-term borrowings Accounts payable ,694 1,807 Accrued payroll Accrued Accrued trade payables Deferred income Derivative liabilities Dividends payable Employee benefits & withholdings Contingent liability claims & other current liabilities Property & other taxes Pension & postretirement benefits Other current liabilities liabilities ,118 5,964 Eurobond Medium-term note ,893 4,661 Bond Debentures Floating rate note Other borrowings Less: current portion of long-term debt , Pension & postretirement benefits ,520 3,843 Long term payable Employee benefits Contingent liability claims & other liabilities Capital lease obligations Deferred income Deferred Other liabilities Total liabilities ,971 18,067 Common stock capital ,791 4, ,575 34,317 Treasury stock ,308 19,307 Cumulative adjustment (1,679) (1,095) Defined benefit pension & postretirement plans adjustment (4,804) (5,293) Cash flow hedging instruments, unrealized gain (loss) (loss) (6,359) (6,289) Total 3M Company shareholders equity ,708 13,109 Noncontrolling interest Total equity ,747 13,142 1 Reclassified to conform with presentation ABBOTT LABORATORIES Acquisition Development On Feb. 1, 2016, Co. and Alere Inc. ("Alere") announced a definitive agreement for Co. to acquire Alere. Under the terms of the agreement, Co. will pay $56 per common share at a total expected equity value of $5,800,000,000. ABBOTT LABORATORIES Net sales ,405,000 20,247,000 19,657,000 Cost of products sold ,747,000 9,218,000 9,193,000 Amortization of intangible assets , , ,000 Research & development expenses ,405,000 1,345,000 1,371,000 expenses ,785,000 6,530,000 6,372,000 Total operating cost & expenses ,538,000 17,648,000 17,524,000 Operating earnings... 2,867,000 2,599,000 2,133,000 Interest expense , , ,000 Interest income ,000 77,000 67,000 Net loss on extinguishment of debt (18,000)... Net foreign exchange gain (loss) ,000 24,000 (46,000) (expense), net ,000 (14,000) 32,000 Earnings (loss) from taxes - domestic , , ,000 Earnings (loss) from taxes - foreign ,394,000 2,126,000 1,545,000 Earnings from taxes ,183,000 2,518,000 2,041,000 Current income taxes expense (benefit) - domestic ,000 27,000 4,000 Current income taxes expense (benefit) - foreign , , ,000 expense (benefit) , , ,000 Deferred income taxes expense (benefit) - domestic , ,000 (308,000) Deferred income

3 February 26, 2016 MERGENT INDUSTRIAL NEWS 49 taxes expense (benefit) - foreign.... (20,000) 4,000 (125,000) expense (benefit) , ,000 (433,000) Taxes on earnings from operations , ,000 53,000 Earnings from operations ,606,000 1,721,000 1,988,000 Earnings from operations, net of tax , , ,000 Gain on sale of operations, net of taxes ,752, Net Earnings from operations, net of taxes ,817, , ,000 Net earning ,423,000 2,284,000 2,576,000 - basic ,496,000 1,516,000 1,558,000 - diluted ,506,000 1,527,000 1,574,000 outstanding ,472,665 1,508,035 1,548,098 share - basic.... $1.73 $1.13 $1.27 share - basic.... $1.21 $0.37 $0.37 per share - basic..... $2.94 $1.50 $1.64 share - diluted $1.72 $1.12 $1.26 share - operation - diluted... $1.20 $0.37 $0.36 per share - diluted.... $2.92 $1.49 $1.62 Cash dividends declared per share.... $0.98 $0.90 $ , , , , Reclassified to conform with presentation; 2 Restated to reflect the sale of developed markets branded generics pharmaceuticals business as operations ; 3 As is; 4 Approximately Consolidated Balance Sheet, Years Ended Dec. 31 Cash & cash equivalents ,001,000 4,063,000 Investments, primarily time deposits & U.S. treasury bills ,124, ,000 Trade receivables, gross ,755,000 3,896,000 Less allowances - trade receivables , ,000 Trade receivables, net ,418,000 3,586,000 Finished products ,744,000 1,807,000 Work in process , ,000 Materials , ,000 Total inventories ,599,000 2,643,000 Other prepaid expenses & receivables ,908,000 1,975,000 Current assets held for disposition , ,000 assets ,155,000 13,556,000 Investments ,041, ,000 Land , ,000 Buildings ,769,000 2,968,000 Equipment ,254,000 8,480,000 Construction in progress , ,000 Gross property & equipment ,383,000 12,632,000 depreciation & amortization ,653,000 6,697,000 Net property & equipment ,730,000 5,935,000 Intangible assets, net of amortization ,562,000 6,198,000 Goodwill ,638,000 10,067,000 Deferred & other assets ,119,000 3,288,000 Non-current assets held for disposition ,000 1,934,000 Total assets ,247,000 41,207,000 Short-term borrowings ,127,000 4,382,000 Trade accounts payable ,081,000 1,064,000 Salaries, wages & commissions , ,000 Other accrued liabilities ,043,000 2,878,000 Dividends payable , ,000 Income taxes payable , ,000 Current portion of long-term debt ,000 55,000 Current liabilities held for disposition , ,000 liabilities ,186,000 10,467,000 Notes ,800,000 3,300,000 Other long-term debt ,000 93,000 Long-term debt ,871,000 3,393,000 Post-employment obligations & other long-term liabilities ,864,000 5,600,000 Non-current liabilities held for disposition ,000 Common shares ,734,000 12,383,000 Common shares held in treasury, at cost ,622,000 8,678,000 Earnings employed in the business ,757,000 22,874,000 Cumulative foreign currency adjustments (4,829,000) (2,924,000) Net actuarial gains (losses) & prior service cost & credits (1,958,000) (2,229,000) Cumulative unrealized gains (loss) on marketable equity securities ,000 1,000 Cumulative gains (losses) on derivative instruments designated as cash flow hedges ,000 99,000 (loss) (6,658,000) (5,053,000) Total Abbott Laboratories shareholders investment ,211,000 21,526,000 Noncontrolling interests in subsidiaries , ,000 Total shareholders investment ,326,000 21,639,000 1 Reclassified to conform with presentation ABBVIE INC Net revenues ,859,000 19,960,000 18,790,000 Cost of products sold ,500,000 4,426,000 4,581,000 expense ,387,000 7,724,000 5,352,000 Research & development expense. 4,285,000 3,297,000 2,855,000 Acquired in-process research & development expense. 150, , ,000 Other expense , Total operating costs & expenses ,322,000 16,549,000 13,126,000 Operating earnings... 7,537,000 3,411,000 5,664,000 Interest expense , , ,000 Interest & dividend income ,000 38,000 21,000 Interest income (expense), net (686,000) (391,000) (278,000) Net foreign exchange gain (loss) (193,000) (678,000) (55,000) (expense), net (13,000) 27,000 1,000 Earnings before - domestic (1,038,000) (3,245,000) (581,000) Earnings before - foreign ,683,000 5,614,000 5,913,000 Earnings before.. 6,645,000 2,369,000 5,332,000 Current domestic.. 1,036, , ,000 Current foreign.. 313, , ,000 Current expense ,349, , ,000 Deferred domestic (benefit) ,000 (301,000) 678,000 Deferred foreign (benefit) ,000 (79,000) (54,000) Deferred expense (benefit) ,000 (380,000) 624,000 Income tax expense.. 1,501, ,000 1,204,000 Net earnings ,144,000 1,774,000 4,128,000 - basic ,625,000 1,595,000 1,589,000 - diluted ,637,000 1,610,000 1,604,000 outstanding ,609,893 1,591,389 1,587,361 Earnings per share - basic $3.15 $1.11 $2.58 Earnings per share - diluted $3.13 $1.10 $2.56 Cash dividends declared per common share $2.10 $1.75 $ , , , , , ,250 1 Reclassified to conform with 2014 presentation; 2 Approximately; 3 As is; 4 As of January 31, ; 5 As of January 31, 2014; 6 As of January 31, 2016 Consolidated Balance Sheet, Years Ended Dec Cash & cash equivalents ,399,000 8,348,000 Short-term investments ,000 26,000 Accounts receivable, gross ,808,000 3,809,000 Less: allowance - accounts receivable ,000 74,000 Accounts & other receivables, net ,730,000 3,735,000 Finished goods , ,000 Work in process ,081, ,000 Materials , ,000 Inventories ,719,000 1,124,000 Deferred ,000 Prepaid expenses & other current assets ,458,000 1,952,000 assets ,314,000 16,081,000 Investments ,000 92,000

4 50 MERGENT INDUSTRIAL NEWS February 26, 2016 Land ,000 48,000 Buildings ,284,000 1,228,000 Equipment ,656,000 5,324,000 Construction in progress , ,000 Property & equipment, gross ,334,000 7,105,000 depreciation ,769,000 4,620,000 Net property & equipment ,565,000 2,485,000 Intangible assets, net of amortization ,709,000 1,513,000 Goodwill ,168,000 5,862,000 Other assets ,149,000 1,480,000 Total assets ,050,000 27,513,000 Short-term borrowings , ,000 Current maturities of long-term debt & lease obligations ,025,000 4,014,000 Sales rebates ,355,000 1,384,000 Accounts payable ,597,000 1,401,000 Dividends payable , ,000 Salaries, wages & commissions , ,000 Royalty & license arrangements , ,000 Other accounts payable & accrued liabilities ,544,000 1,934,000 liabilities ,894,000 11,393,000 Floating rate notes ,000 Notes ,400,000 14,200,000 Term loan facilities ,000, Other long-term debt & lease obligations , ,000 Fair value hedges & unamortized bond discounts (72,000) (180,000) Unamortized bond discounts (85,000) (49,000) Unamortized deferred financing costs (117,000) (34,000) Current portion ,025,000 4,014,000 Long-term debt & lease obligations ,240,000 10,538,000 Deferred ,276, ,000 Pension & other post-employment benefits ,949,000 2,220,000 Liabilities for unrecognized tax benefits , ,000 Other long-term liabilities , ,000 Common stock ,000 16,000 Common stock held in treasury ,839, ,000 capital ,080,000 4,194, ,248, ,000 adjustments (1,270,000) (603,000) Pension & other post-employment benefits (1,378,000) (1,608,000) Unrealized gains on marketable equity securities ,000 3,000 Hedging activities , ,000 (loss) (2,561,000) (2,031,000) Total stockholders equity ,945,000 1,742,000 ACTIVECARE, INC. Consolidated Income Statement, Years Ended Sept. 30 ($): Revenues - chronic illness monitoring.... 6,597,981 6,107,941 4,245,404 Cost of revenues - chronic illness monitoring ,196,827 6,437,943 3,323,011 Gross profit (loss).... 1,401,154 (330,002) 922,393 expense ,358, ,800, ,752,277 Research & development expense. 106, , ,170 Total operating expenses ,464,936 10,015,448 9,357,447 from operations (9,063,782) (10,345,450) (8,435,054) Gain (loss) on liability settlements , Gain (loss) on derivative liability , ,293 (333,406) Gain (loss) on lease termination , (expenses) ,129 55,368 (45,011) Loss on induced conversion of debt , Loss on induced conversion of debt & sale of common stock ,355,587 Gain (loss) on disposal of property & equipment (42,336) (42,094) (200,149) Impairment of goodwill , Loss on extinguishment of debt (927,784) Interest expense, net ,234 1,936,039 5,583,932 Total other income (expense), net (2,277,655) (1,663,570) (15,518,085) from operations (11,341,437) (12,009,020) (23,953,139) from operations (186,232) (1,452,567) (3,184,463).... (11,527,669) (13,461,587) (27,137,602) Dividends on preferred stock , , ,868 Deemed dividends on conversion of accrued dividends to common stock , Deemed dividends on conversion of preferred stock to common stock ,234, common stockhokders (12,823,749) (16,433,649) (27,458,470) - basic ,444,000 35,010,000 7,369,000 - diluted ,444,000 35,010,000 7,369,000 outstanding ,113, ,815,351 21,775,303 share - basic.... $(0.25) $(0.43) $(3.30) share - basic.... $0.00 $(0.04) $(0.43) per share - basic..... $(0.25) $(0.47) $(3.73) share - diluted $(0.25) $(0.43) $(3.30) share - diluted $0.00 $(0.04) $(0.43) per share - diluted.... $(0.25) $(0.47) $(3.73) Number of full time Number of part time , , Number of preferred Reclassified to conform with presentation; 2 Restated to reflect the sale of the CareServices assets and reagents business as operations; 3 Restated to reflect the correction of accounting error related to revenue recognition for chronic illness monitoring supplies shipped to distributors; 4 Including stock based compensation: $5,762,755; 5 Including stock based compensation: $3,585,379; 6 Including stock based compensation: $3,446,827; 7 Shares increased due to the effect of issuance for services, finance fees, loan origination fees, debt conversion, dividends and related interest, option exercises, series C and D preferred conversion; 8 Approximately; 9 As of January 7, 2016; 10 As of January 12, Consolidated Balance Sheet, Years Ended Sept. 30 ($): Cash , ,027 Accounts receivable, gross ,361 1,751,654 Less: allowance for doubtful accounts , ,994 Accounts receivable, net ,866 1,635,660 Finished goods , ,423 Finished goods held by distributors ,350,368 2,720,626 Total inventory ,556,406 3,310,049 Less: reserves for inventory obsolescence ,935 1,660,729 Inventories ,471 1,649,320 Prepaid expenses & other current assets , ,087 Assets of operations ,403 assets ,375,334 4,335,497 Goodwill ,894 Software , ,574 Leasehold improvements , ,287 Furniture ,758 69,776 Equipment ,754 54,732 Property & equipment, gross , ,369 depreciation , ,293 Property & equipment, net , ,076 Deposits & other assets ,846 29,594 Domain name, gross ,010 10,724 Domain name, net ,010 10,724 Customer contracts, gross , ,106 amortization , ,106 Total assets ,538,960 5,421,785 Accounts payable ,493,211 4,549,451 Accounts payable, related party ,797 1,109,775 Payroll expense , ,529 Interest ,045 59,091 Deferred revenue ,344 18,534 Commissions and fees , ,744 Liability to issue common stock , ,087 Other , Deferred rent ,346 Accrued expenses ,967 1,451,331 Current portion of notes payable ,259,916 1,212,937 Current portion of notes payable, related party ,495 1,669,620 Dividends payable , ,738 Derivative liability , ,444 liabilities ,799,083 10,346,296 Unsecured notes payable ,534,709 1,601,435 Less: discount (274,793) (169,450) Less: current portion ,259,916 1,212,937

5 February 26, 2016 MERGENT INDUSTRIAL NEWS 51 Less: current portion , Total liabilities ,147,334 10,565,344 Preferred stock Common stock Additional paid in capital ,231,002 73,183,429 (accumulated deficit) (91,840,158) (78,327,447) Total stockholders equity (8,608,374) (5,143,559) 1 Reclassified to conform with presentation ACTIVECARE, INC. Auditor s Report Auditor s Report The following is an excerpt from the Report of Independent Auditors, Tanner LLC, as it appeared in Co. s 10-K: "In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of ActiveCare, Inc. and subsidiaries as of September 30, and 2014, and the results of their operations and their cash flows for the years then ended in conformity with U.S. generally accepted accounting principles. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has recurring losses, negative cash flows from operating activities, negative working capital, negative total equity, and certain debt that is in default. These conditions, among others, raise substantial doubt about its ability to continue as a going concern. Management s plans regarding these matters are also discussed in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty." ACTUANT CORP. Earnings, 3 mos. to Nov 30(Consol. $000): 2014 Net Sales , ,765 Cost & expenses , ,261 Operating income ,371 38,218 (expense), net (7,736) (5,752) Net before taxes ,635 32,466 Income taxes ,187 7,792 Net income ,448 24,674 Primary $0.26 $0.38 Fully Diluted $0.26 $0.38 Full Diluted ,713 65,599 Year-end ,089 63,065 Consolidated Balance Sheet Items, as of Assets: Cash & equivalents ,945 Inventories ,728 Current assets ,814 Net property & equip ,563 Total assets ,623,535 Liabilities: Current liabilities ,505 Long-term debt ,559 Stockholders equity ,452 Net current assets ,309 ADT CORP Earnings, 3 mos. to (Consol. $Millions): 12/31/15 12/26/14 Total revenues Cost & expenses Operating income Interest expense Net before taxes Income taxes Net income Primary $0.39 $0.41 Fully Diluted $0.39 $0.41 Full Diluted Year-end Consolidated Balance Sheet Items, as of ($Millions): Assets: Cash & equivalents Inventories Current assets Net property & equip Total assets ,711 Liabilities: Current liabilities Long-term debt ,396 Stockholders equity ,905 Net current assets (251) ADVANCED MICRO DEVICES, INC. Consolidated Income Statement, Years Ended 12/26/ /27/ /28/13 Net revenue ,991,000 5,506,000 5,299,000 Cost of sales ,911,000 3,667,000 3,321,000 Gross margin ,080,000 1,839,000 1,978,000 Research & development expense. 947,000 1,072,000 1,201,000 Marketing, general & expense , , ,000 Amortization of acquired intangible assets ,000 14,000 18,000 Restructuring & other special charges, net ,000 71,000 30,000 Goodwill impairment charge , Legal settlements, net (48,000) Operating income (loss) (481,000) (155,000) 103,000 Interest expense , , ,000 Net gain (loss) on debt redemptions (61,000)... (expense), net (5,000) (5,000)... before - United States (U.S.) (1,000,000) (621,000) (397,000) Income before - foreign , , ,000 before.. (646,000) (398,000) (74,000) Current income taxes provision (benefit) - U.S. federal (1,000) (1,000) (2,000) Current income taxes provision (benefit) - foreign national & local ,000 6,000 10,000 provision (benefit)... 15,000 5,000 8,000 Deferred income taxes provision (benefit) - U.S. federal ,000 Deferred income taxes provision (benefit) - foreign national & local (1,000)... (2,000) provision (benefit)... (1,000)... 1,000 Provision (benefit) for ,000 5,000 9, (660,000) (403,000) (83,000) - basic , , ,000 - diluted , , ,000 outstanding , , ,000 per share - basic..... $(0.84) $(0.53) $(0.11) per share - diluted.... $(0.84) $(0.53) $(0.11) 2 3 9, , , , , ,023 1 Reclassified to conform with presentation; 2 As is; 3 Approximately; 4 As of February 12, 2016; 5 As of February 13, ; 6 As of February 14, 2014 Consolidated Balance Sheet, Years Ended 12/26/15 12/27/14 Cash & cash equivalents , ,000 Marketable securities ,000 Accounts receivable, net , ,000 Raw materials ,000 40,000 Work in process , ,000 Finished goods , ,000 Inventories, net , ,000 Prepayments & other - GLOBALFOUNDRIES , ,000 Prepaid expenses ,000 32,000 Other current assets ,000 48,000 assets ,320,000 2,736,000 Land & land improvements ,000 4,000 Buildings & leasehold improvements , ,000 Equipment ,000 1,416,000 Construction in progress ,000 14,000 Total property, plant & equipment ,000 1,680,000 Accumulated depreciation & amortization ,000 1,378,000 equipment, net , ,000 Acquisition related intangible assets, net ,000 Goodwill , ,000 Other assets , ,000 Total assets ,109,000 3,767,000 Short-term debt , ,000 Accounts payable , ,000 Payable to GLOBALFOUNDRIES , ,000 Accrued compensation & benefits , ,000 Accrued marketing program & advertising expenses , ,000 Accrued software technology & licenses payable ,000 39,000 Other accrued liabilities , ,000 Accrued liabilities , ,000 Other current liabilities ,000 40,000 Deferred income on shipments to distributors ,000 72,000 liabilities ,403,000 1,440,000 Convertible senior notes ,000 Senior notes ,032,000 2,028,000 Secured revolving line of credit , ,000 Capital lease obligations ,000 Less: current portion , ,000 Other long-term liabilities , ,000 Common stock ,000 8,000 capital ,017,000 6,949,000 Treasury stock, at cost , ,000 (accumulated deficit) (7,306,000) (6,646,000) Net unrealized gains (losses) on available-for-sale securities (1,000) 1,000 Net unrealized gains (losses) on cash flow hedges (7,000) (6,000) (loss) (8,000) (5,000) Total stockholders equity (deficit) (412,000) 187,000

6 52 MERGENT INDUSTRIAL NEWS February 26, 2016 AECOM Earnings, 3 mos. to Dec 31(Consol. $000): 2014 Total revenues ,297,651 4,210,468 Cost & expenses ,201,207 4,224,615 Operating income ,444 (14,147) (expense), net ,042 2,579 Gains or losses (41,053) Net before taxes (1,085) (130,266) Income taxes (682) (12,199) Net income (403) (118,067) Primary $(0.13) $(0.98) Fully Diluted $(0.13) $(0.98) Full Diluted , ,892 Year-end , ,728 Consolidated Balance Sheet Items, as of Assets: Cash & equivalents ,044 Current assets ,896,621 Net property & equip ,781 Total assets ,529,450 Liabilities: Current liabilities ,755,045 Long-term debt ,366,400 Stockholders equity ,314,536 Net current assets ,141,576 AEROJET ROCKETDYNE HOLDINGS INC Consolidated Income Statement, Years Ended Nov Net sales ,708,300 1,602,200 1,378,100 Cost of sales ,459,500 1,406,200 1,234,300 AR1 research & development , expenses ,000 38,200 53,600 Depreciation & amortization ,100 63,700 43,500 Loss on debt repurchased ,900 60,600 5,000 Legal settlement , (expense), net (17,400) (13,900) (28,900) Total operating costs & expenses ,675,000 1,582,600 1,365,300 Operating income (loss) ,300 19,600 12,800 Interest income Interest expense ,400 52,700 48,700 Total non-operating income (expense), net (50,100) (52,600) (48,500) from (16,800) (33,000) (35,700) Current provision (benefit) - United States federal ,000 19,000 1,800 Current provision (benefit) - state & local ,400 4,100 1, ,400 23,100 2,800 Deferred provision (benefit) - United States federal (41,200) (5,500) (150,300) Deferred provision (benefit) - state & local ,100 (1,300) (50,900) (36,100) (6,800) (201,200) Income tax provision (benefit) ,300 (198,400) from operations (17,100) (49,300) 162,700 from operations, net of (700) (16,200) (50,000) 162,900 Income allocated to participating securities ,100 to common - basic... (16,200) (50,000) 159,800 Interest on convertible subordinated debentures (8,100) to common - diluted.. (16,200) (50,000) 167,900 - basic ,100 57,900 59,600 - diluted ,100 57,900 81,900 outstanding ,000 57, per basic.... $(0.28) $(0.85) $2.68 per operations, net of - basic $0.01 $(0.01)... per share - basic..... $(0.27) $(0.86) $2.68 per diluted $(0.28) $(0.85) $2.05 per operations, net of - diluted $0.01 $(0.01)... per share - diluted.... $(0.27) $(0.86) $ , , Restated to reflect the correction of errors related to purchase accounting for contracts acquired as part of the acquisition of the Rocketdyne Business; and other individually immaterial items; 2 Restated to reflect the correction of errors related to contract accounting related to subsequent modifications to one significant acquired contract and improper recognition of sales incentives; 3 As is; 4 As of January 15, 2016 Consolidated Balance Sheet, Years Ended Nov Cash & cash equivalents , ,900 Billed receivables under long-term contracts ,400 68,100 Unbilled receivables under long-term contracts, net , ,000 Other receivables Accounts receivable , ,500 Long-term contracts at average cost , ,600 Progress payments (349,600) (356,900) Total other inventories ,300 1,300 Inventories , ,000 Recoverable from the U.S. government & other third parties for environmental remediation costs ,000 19,400 Receivable from Northrop Grumman Corporation ,000 6,000 Recoverable from the U.S. government for Rocketdyne business integration costs ,900 10,500 Prepaid expenses ,700 11,300 Receivables, net ,200 5,600 Indemnification receivable from United Technologies Corporation, net , Recoverable from the U.S. government for competitive improvement program severance obligations , Other current assets ,500 10,300 Other current assets, net ,500 38,600 Income taxes ,900 2,100 Deferred ,100 19,900 assets , ,400 Land ,300 67,200 Buildings & improvements , ,900 Machinery & equipment , ,000 Construction-in-progress ,900 35,500 equipment, gross , ,600 Less accumulated depreciation , ,100 equipment, net , ,500 Real estate held for entitlement & leasing ,200 94,400 Recoverable from the U.S. government & other third parties for environmental remediation costs ,400 87,200 Receivable from Northrop ,700 68,800 Deferred , ,400 Goodwill , ,100 Intangible assets , ,200 Income taxes ,900 6,600 Recoverable from the U.S. government for Rocketdyne business integration costs ,400 27,600 Deferred financing costs ,900 18,500 Receivable from the U.S. government for conditional asset retirement obligations ,500 17,700 Grantor trust ,700 11,200 Note receivable, net , Recoverable from the U.S. government for competitive improvement program severance obligations , Indemnification receivable from UTC, net ,700 Other noncurrent assets ,400 11,300 Total noncurrent assets ,372,300 1,258,200 Total assets ,034,900 1,918,600 Short-term borrowings & current portion of long-term debt ,300 5,300 Accounts payable , ,000 Reserves for environmental remediation costs ,600 31,900 Postretirement medical & life insurance benefits ,000 6,400 Advance payments on contracts , ,400 Accrued compensation & employee benefits ,300 94,900 Income taxes ,500 16,200 Payable to UTC primarily for transition service agreements ,900 11,900 Interest payable ,700 14,600 Contract loss provisions ,300 12,000 Other current liabilities ,600 71,800 liabilities , ,400

7 February 26, 2016 MERGENT INDUSTRIAL NEWS 53 Senior debt ,800 93,800 Second-priority senior notes , ,000 Convertible subordinated notes , ,800 Other debt ,100 89,300 Reserves for environmental remediation costs , ,100 Pension benefits , ,800 Postretirement medical & life insurance benefits ,500 51,700 Conditional asset retirement obligations ,300 24,400 Pension benefits, non-qualified ,900 19,100 Deferred compensation ,900 11,100 Deferred revenue ,900 7,400 Other noncurrent liabilities ,400 18,600 Total noncurrent liabilities ,626,300 1,526,100 Total liabilities ,180,400 2,092,500 Redeemable common stock ,600 Common stock ,500 5,900 Other capital , ,400 Treasury stock at cost ,500 64,500 (accumulated deficit) (86,800) (70,600) Actuarial gains (losses), net (342,600) (337,000) Prior service credits, net ,300 (loss), net of income taxes (341,700) (333,700) Total shareholders equity (deficit) (146,400) (175,500) 1 Restated to reflect the correction of errors related to purchase accounting for contracts acquired as part of the acquisition of the Rocketdyne Business; and other individually immaterial items; 2 Restated to reflect the correction of errors related to contract accounting related to subsequent modifications to one significant acquired contract and improper recognition of sales incentives AETHLON MEDICAL INC Earnings, 9 mos. to Dec 31(Consol. $): 2014 Cost & expenses ,980,367 3,423,985 Operating income (3,298,460) (2,860,180) (expense), net (2,897,425) Net income (3,701,297) (6,051,127) Primary $(0.50) $(1.12) Fully Diluted $(0.50) $(1.12) Full Diluted ,318,019 5,254,459 Year-end ,622,393 6,554,784 AETNA INC Health care premiums ,618,100 49,562,200 39,659,700 Other premiums ,170,700 2,186,300 2,077,900 Group annuity contract concersion premium ,000 Fees & other revenue ,695, ,228, ,550,500 Net investment income , , ,300 Net realized capital gains (losses) (64,500) 80,400 (8,800) Total revenue ,336,500 58,003,200 47,294,600 Health care costs ,712, ,746, ,896,000 Current & future benefits ,120,600 2,165,000 2,251,400 Benefit expense on group annuity contract conversion ,000 Selling expenses ,611,100 1,653,000 1,348,600 Salaries & related benefits ,995,400 4,691,300 4,139,500 Other general & expenses ,042,800 4,493,400 3,157,300 Total operating expenses ,649,300 10,837,700 8,645,400 Interest expense , , ,700 Amortization of other acquired intangible assets , , ,600 Gain (loss) on early extinguishment of long-term debt (181,200)... Reduction of reserve for anticipated future gains (losses) on products ,000 before.. 4,235,600 3,499,900 2,940,500 Current income taxes expense (benefits) - federal ,797,200 1,233, ,900 Current income taxes expense (benefits) - state ,800 84,000 55,700 expense (benefits).... 1,909,000 1,317, ,600 Deferred income taxes expense (benefits) - federal (58,600) 114,100 63,000 Deferred income taxes expense (benefits) - state (9,400) 23,600 8,000 expense (benefits).... (68,000) 137,700 71,000 Income taxes ,841,000 1,454,700 1,028,600 including non-controlling interests ,394,600 2,045,200 1,911,900 Less: net income (loss) attributable to non-controlling interests (4,400) (4,400) 1,700 Net income Aetna Inc ,390,200 2,040,800 1,913,600 - basic , , ,400 - diluted , , ,200 outstanding , , ,200 per share - basic..... $6.84 $5.74 $5.38 per share - diluted.... $6.78 $5.68 $5.33 Dividends declared $0.93 $ , , , , , ,614 adjustments (13,100) Reclassified to conform with presentation; 2 Net of pharmaceutical & processing costs - Fees & other revenue: $1,300,000,000; 3 Includes services contract member co-payments & plan sponsor reimbursements related to mail order & specialty pharmacy Fees & other revenue: $112,000,000; 4 Includes services contract member co-payments & plan sponsor reimbursements related to mail order & specialty pharmacy Fees & other revenue: $102,000,000; 5 Net of pharmaceutical & processing costs - Fees & other revenue: $1,100,000,000; 6 Includes services contract member co-payments & plan sponsor reimbursements related to mail order & specialty pharmacy Fees & other revenue: $86,000,000; 7 Reduced by fully insured member co-payments related to mail order & specialty pharmacy Health care costs: $117,000,000; 8 Reduced by fully insured member co-payments related to mail order & specialty pharmacy Health care costs: $107,000,000; 9 Reduced by fully insured member co-payments related to mail order & specialty pharmacy Health care costs: $110,000,000; 10 As is; 11 Approximately; 12 As of January 31, 2016; 13 As of January 31, ; 14 As of January 31, 2014 Consolidated Balance Sheet, Years Ended Dec. 31 Cash & cash equivalents ,524,300 1,420,400 Investments ,014,800 2,595,200 Premium receivable, net ,753,100 1,623,000 Other receivables, net ,443,200 2,065,900 Accrued investment income , ,900 Collateral received under securities loan agreements ,900 Income taxes receivable , ,700 Deferred ,000 Other current assets ,515,000 2,193,000 assets ,738,500 11,764,000 Long-term investments ,664,800 22,193,900 Reinsurance recoverables , ,400 Goodwill ,636,800 10,613,200 Other acquired intangible assets, net ,688,300 1,948,300 Property & equipment, gross , ,800 depreciation , ,000 Property & equipment, net , ,800 Other long-term assets ,307,000 1,130,000 Separate accounts assets ,035,100 4,331,500 Total assets ,424,100 53,402,100 Health care costs payable ,305,700 5,621,100 Future policy benefits , ,900 Unpaid claims , ,300 Unearned premiums , ,500 Policyholders funds ,262,500 1,984,500 Collateral payable under securities loan agreements ,028,600 Short-term debt ,000 Current portion of long-term debt ,300 Accrued expenses & other current liabilities ,920,000 4,022,300 liabilities ,481,500 15,356,500 Future policy benefits ,268,200 6,427,400 Unpaid claims ,655,600 1,650,600 Policyholders funds ,600 1,163,200 Senior notes ,828,000 8,081,300 Less current portion of long-term debt ,300 Long-term debt, less current portion ,828,000 7,852,000 Deferred , ,500 Other long-term liabilities ,100 1,201,600 Separate accounts liabilities ,035,100 4,331,500 Total liabilities ,245,500 38,850,300 Common stock & additional paid-in capital ,647,200 4,542,200 (accumulated deficit) ,797,400 11,051,700 Net unrealized gains (losses) on securities - previously impaired ,700 34,900 Net unrealized gains