				EXHIBIT 99.3
WELLS-CTI, INC				RECONCILIATION OF US TRUSTEE FORMAT TO GAAP
FORMS OPR-1 & OPR-2
BALANCE SHEET
AS AT APRIL 30, 2003

						AS REPORTED TO US TRUSTEE			U.S. GAAP ADJUSTMENTS			U.S. GAAP ADJUSTED
ASSETS: Cash & Cash Equivalent Accounts Receivable - Trade Inventory Prepaid Expenses Total Current Assets Plant, Property, & Equip. - Gross Accm/Depr Total Fixed Assets Deposits Investments & Intraco. Other Assets Total Other Assets TOTAL ASSETS						750 979,685 1,462,281 145,717 2,588,433 16,201,256 12,660,984 3,540,272 33,422 200,000 - 233,422 6,362,127			(319,876) (16,162,207) 12,659,683 (63,746) 1,544,270 (2,331,876)			750 979,685 1,142,405 145,717 2,268,557 39,049 1,301 37,748 (30,324) 1,754,270 - 1,723,946 4,030,251

LIABILITIES & EQUITY: Total Debt Accounts Payable Accrued Expenses Total Current Liab. Other Liab. Long Term Debt Total Liabilities						43,032,199 283,804 327,337 43,643,340 - - 43,643,340			(43,032,199)			- 283,804 327,337 611,141 - - 611,141
EQUITY Common Stock/PIC Currency Translation Adj. Beginning R/E Current Earnings Total Equity						69,873,167 - (106,806,091) (348,289) (37,281,213)			44,586,469 (4,415,161) 529,015			114,459,636 - (111,221,252) 180,726 3,419,110
TOTAL LIAB. & EQUITY						6,362,127			(2,331,876 )			4,030,251

WELLS-CTI, INC			RECONCILIATION OF US TRUSTEE FORMAT TO GAAP
FORM OPR-5
INCOME STATEMENT
FOR THE MONTH OF APRIL 2003

			AS REPORTED TO US TRUSTEE				U.S. GAAP ADJUSTMENTS			U.S. GAAP ADJUSTED

Total Sales			467,439							467,439
Cost Of Sales			317,764				(132,501)			185,263

Gross Margin			149,675				132,501			282,176

Selling/General/Administrative			253,536							253,536

Operating Profit			(103,861)				132,501			28,640

Other Exp/(Income)			(38,693)							(38,693)

Pretax Income/(Loss)			(65,168)				132,501			67,333
Taxes			-				-			-

Net Income/(Loss)			(65,168)				132,501			67,333

WELLS-CTI - USA		RECONCILIATION OF US TRUSTEE FORMAT TO GAAP
FORM OPR-6
DIVISIONAL CASH FLOWS
APRIL 2003



					AS REPORTED			U.S. GAAP			U.S. GAAP
					TO US TRUSTEE			ADJUSTMENTS			ADJUSTED

SOURCES:
Net Income from Operations					(65,168)			132,501			67,333
Depreciation and Amortization					132,676			(132,501)			175

	TOTAL				67,508			-			67,508

APPLICATIONS:
Accounts Receivable					(189,706)			-			(189,706)
Inventory					18,628			-			18,628
Capital Equipment					1,072			-			1,072
Accounts Payable					(49,452)			-			(49,452)
Other Working Capital					288,171			-			288,171

	TOTAL				68,713			-			68,713

NET CASH FLOW					(1,205)			-			(1,205)

BEGINNING CASH					1,955			-			1,955

ENDING CASH					750			-			750


OTHER WORKING CAPITAL
Prepaid Assets					22,497			-			22,497
Intercompany					174,201			-			174,201
Other Assets					-			-			-
Accrued Expenses/Payroll					91,473			-			91,473

	TOTAL				288,171			-			288,171

PCD INC 8-K