SinnerSchrader: Consolidated Balance Sheets

The accompanying notes are an integral part of these Consolidated Financial Statements.

Consolidated Balance Sheets, Acc. to IFRS

Assets in €	Notes No./Page	31.08.2006	31.08.2005

Current assets:
Liquid funds	3.9/52	2,510,285	9,614,529
Marketable securities	5.5/60	7,495,189	955,622
Cash and cash equivalents		10,005,474	10,570,151

Accounts receivable, net of allowances for doubtful accounts of
€ 156,759 and € 155,924 at 31.08.2006 and 31.08.2005, respectively	3.7/52	2.774.928	1.553.805
Unbilled revenues	5.3/59	410,649	170,404
Tax receivables	5.4/60	125,920	178,274
Other current assets and prepaid expenses	5.4/60	105,205	152,877
Total current assets		13,422,176	12,625,511

Non-current assets:
Intangible assets	5.1/58	109,899	101,172
Property and equipment	5.1/58	1,028,960	872,586
Deferred tax assets	6.5/65	505,824	146,962
Total non-current assets		1,644,683	1,120,720
Total assets		15,066,859	13,746,231

Liabilities and shareholders’ equity in €	Notes No./Page	31.08.2006	31.08.2005
Current liabilities:
Trade accounts payable	3.11/53	1,240,316	801,924
Advance payments received		280,772	313,187
Accrued expenses	5.7/61	1,709,274	1,465,386
Deferred income and other current liabilities	5.8/62	305,234	831,697
Total current liabilities		3,535,596	3,412,194

Shareholders’ equity:
Common stock, stated value € 1, issued: 11,542,764 and 11,542,764,
outstanding: 11,411,417 and 11,411,417 at 31.08.2006 and 31.08.2005, respectively	5.6/61	11,542,764	11,542,764
Additional paid-in capital	5.6/61	17,596,005	17,596,005
Reserves for share-based compensation		17,121	9,165
Treasury stock, 131,347 and 131,347 at 31.08.2006 and 31.08.2005, respectively	5.6/61	–200,933	–200,933
Accumulated deficit		–17,449,040	–18,640,760
Changes in shareholders’ equity not affecting net income	5.6/61	25,346	27,796
Total shareholders’ equity		11,531,263	10,334,037
Total liabilities and shareholders’ equity		15,066,859	13,746,231