APPENDIX B Financial data with respect to the merging companies ATLAS The following tabulation sets forth certain data in respect of a share of the Common Stock of Atlas for the calendar years ended December 31, 1946 through 1954, inclusive, and for the period of 11 months ended November 30, 1955: • Income available for dividends was determined by deducting the applicable proportionate cost of treasury stock purchases and the cost of Option Warrants cancelled before determining the source of dividends paid. Determined by dividing the number of shares of Common Stock outstanding at such time into the value of total net assets after deducting an amount equal to $55 per share of outstanding 6% Preferred Stock, plus accrued dividends thereon. All the outstanding Preferred Stock not theretofore retired was retired during 1946. Excluding cost value of 1/50 of a share of Airfleets, Inc. stock distributed January 5, 1953. The market value of the stock of Airfleets, Inc. on date of distribution was $13.25 per share. 37 S. E. C. APPENDIX B (Continued) WASATCH The following tabulation sets forth the per share asset coverage or (deficit) of the outstanding capital stock of Wasatch at the close of the fiscal years ended December 31, 1953 and 1954 and at November 30, 1955: (•) All accrued dividends on Prior Preferred Stock were paid in full up to and including December 15, 1955. (*) In liquidation the $6 Cumulative Preferred Stock would be entitled to $100 per share plus accrued dividends. The aggregate liquidating value or (deficit) of the $6 Cumulative Preferred Stock was ($150,947.82), $4,938,745.66 and $7,119,874.85 at December 31, 1953, December 31, 1954, and November 30, 1955 respectively excluding accrued and unpaid dividends of $14,570,146.50 ($136.50 per share), $15,210,592.50 ($142.50 per share) and $15,797,668.00 ($148.00 per share) at December 31, 1953, December 31, 1954 and November 30, 1955. (") The aggregate amounts by which the net assets would have to increase before the Common Stock would have any asset value were $25,395,194.32, $20,945,946.84 and $19,351,893.15 at December 31, 1953, December 31, 1954, and November 30, 1955 respectively. 37 S. E. C. APPENDIX B (Continued) AIRFLEETS The following_tabulation sets forth a summary of consolidated earnings of Airfleets for the 5 years ended November 30, 1955: "Revenues" as shown above represent gross revenues less direct costs and also, in the case of oll revenues, interest on production obligation. • Adjustments relating to prior years. 37 S. E. C. APPENDIX B (Continued) SAN DIEGO The following tabulation sets forth a summary of the earnings of San Diego for the 3 years ended November 30, 1955: APPENDIX B (Continued) AIRFLEETS The following tabulation sets forth a summary of consolidated earnings of Airfleets for the 5 years ended November 30, 1955: "Revenues" as shown above represent gross revenues less direct costs and also, in the case of oil revenues, interest on production obligation. • Adjustments relating to prior years. 37 S. E. C. |