Earthlink 2008 Annual Report Download - page 263

HELIO, INC. and HELIO LLC
COMBINED BALANCE SHEETS
(in thousands, except share/unit data)
The accompanying notes are an integral part of these combined financial statements.
3
December 31, December 31,
2006 2007
ASSETS
Current assets:
Cash and cash equivalents
$
111,066
$
45,148
Marketable securities
27,917
—
Accounts receivable, net of allowance of $5,543 and $10,866 as of December 31, 2006 and 2007,
respectively
10,191
29,216
Prepaid expenses
13,556
5,263
Inventory
11,725
23,729
Restricted cash
7,850
6,850
Other current assets
1,709
868
Total current assets
184,014
111,074
Restricted cash
–
long term
5,647
5,734
Property and equipment
50,456
40,556
Other intangible assets
21,031
8,970
Goodwill
3,449
3,449
Other long term assets
373
290
Total assets
$
264,970
$
170,073
LIABILITIES AND STOCKHOLDERS
’
AND PARTNERS
’
EQUITY
Current liabilities:
Accounts payable
$
13,330
$
30,439
Accrued expenses
44,892
54,377
Due to Partners
17,864
4,299
Member deposits and credit fees
2,730
10,849
Deferred revenue
2,803
7,575
Total current liabilities
81,619
107,539
Convertible notes payable and interest payable due to Partners
—
62,642
Other non
-
current liabilities
2,123
1,390
Total liabilities
83,742
171,571
Commitments and contingencies
Stockholders
’
and partners
’
equity:
Convertible preferred membership units (100,000,000 authorized; 100,000,000 and 124,401,683 issued
and outstanding and convertible into Class A Common Stock at a 1:1 conversion rate at December 31,
2006 and 2007, respectively)
401,000
540,478
Serial preferred stock ($0.01 par value; 20,000,000 authorized; -0- shares issued and outstanding at
December 31, 2006 and 2007)
—
—
Class B common stock ($0.01 par value; 2 shares authorized, issued and outstanding at December 31,
2006 and 2007)
—
—
Class A common stock ($0.01 par value; 230,000,002 shares authorized; 5,337,900, and 5,561,272
shares issued and outstanding at December 31, 2006 and 2007, respectively)
54
56
Additional paid
-
in capital
13,952
18,308
Accumulated deficit
(233,778
)
(560,340
)
Total stockholders’ and partners’ equity
181,228
(1,498
)
Total liabilities and stockholders’ and partners’ equity
$
264,970
$
170,073