v2.4.0.6

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Current Assets:
Cash	$ 1,052,042	$ 1,241,052
Accounts receivable, net	5,404,439	8,790,610
Costs on uncompleted projects applicable to future billings	352,530	334,179
Inventory	389,345	440,514
Prepaid expenses and other current assets	364,474	382,511
Total Current Assets	7,562,831	11,188,866
Property and equipment, net	1,121,987	1,121,117
Deferred tax asset (Note 8)	200,000	200,000
Other long term assets	112,946	116,732
Total Assets	8,997,764	12,626,715
Current Liabilities:
Accounts payable	1,368,647	4,587,827
Billings in excess of costs and estimated profit on uncompleted projects	1,099,148	888,912
Accrued future losses	3,400	16,312
Accrued expenses and other current liabilities	1,354,666	1,752,764
Note payable to bank under line of credit	4,980,000	5,000,000
Convertible notes payable (Note 5)	2,000,000	2,000,000
Current portion of long-term debt (Note 7)	1,990,379	2,125,186
Total Liabilities	12,796,241	16,371,001
Shareholders' Deficit:
Common stock, par value $.01 per share; authorized 120,000,000 shares; 11,940,373 shares issued and outstanding	119,404	119,404
Additional paid-in capital	7,360,558	7,360,558
Accumulated deficit	(11,278,439)	(11,224,248)
Total Shareholders' Deficit	(3,798,477)	(3,744,286)
Total Liabilities and Shareholders' Equity	$ 8,997,764	$ 12,626,715

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

OP TECH ENVIRONMENTAL SERVICES INC 10-Q