|
GOING-CONCERN
EVALUATION
|
12-31-03 |
12-31-04 |
12-31-05 |
Industry
Average
|
|
"Z" Score Measure of Going-Concern Measures the Probability of
Bankruptcy for the Company
|
|
|
|
|
|
(Working Capital / Total Assets) *.717
|
0.15 |
0.06 |
0.08 |
|
|
(Retained Earnings / Total Assets) *.847
|
0.16
|
0.09
|
0.10
|
|
|
(Operating Income / Total Assets) *3.107 |
0.43
|
-0.17
|
.013
|
|
|
(Net Worth / Total Liabilities) *3.107
|
0.12 |
0.07 |
0.07 |
|
|
(Sales / Total Assets) *.998
|
4.79
|
3.92
|
4.08
|
|
|
"Z" Score
|
5.65
|
3.97
|
4.45
|
|
"Z" Score
Probability of Bankruptcy
|
|
|
1.10 or
less
very high probability
|
|
|
1.11 to
2.60
not sure (gray area)
|
|
|
2.60 or
higher very low probability
|
|
|
