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G.R.O .W., Inc. <br /> Statement of Financial Position <br /> June 30, 2002 <br /> Assets <br /> Current Assets : <br /> Cash $ 44,430 <br /> Grant funding receivable 509146 <br /> Prepaid expenses 159674 <br /> Total Current Assets 1109250 <br /> Other Assets : <br /> Property and equipment, net of depreciation 239274 <br /> Other 725 <br /> Total Other Assets 237999 <br /> Total Assets $ 1349249 <br /> Liabilities and Net Assets <br /> Current Liabilities : <br /> Accounts payable and accrued expenses $ 164 <br /> Deferred grant revenue 369235 <br /> Short term bank loan 74,660 <br /> Total Current Liabilities 111 ,059 <br /> Net Assets : <br /> Unrestricted : <br /> Undesignated 239190 <br /> Total Net Assets 239190 <br /> Total Liabilities and Net Assets $ 134,249 <br /> See accompanying notes to financial statements. <br /> -3 - <br />