Myers Industries, Inc. · NYSE:MYE
Myers Industries — MYERS INDUSTRIES EXHIBIT 99-2 AUDITED FINANCIALS
11 slides from Myers Industries's investor presentation, Apr 2, 2007
Slide 1: Related party balances not otherwise disclosed are as follows
Related party balances not otherwise disclosed are as follows:
Slide 2: Accounts receivable (payable)
Accounts receivable (payable): Amerikan, LLC Lorasons Holdings Inc. Sabbatical Holdings Inc. Abba Systems Inc. ITML Holdings Inc Hensen Properties Inc. IPTI Properties Inc 2006 $ 272,553 (9818) 591,366 1,960,000 $2,814,101 2005 (unaudited) $ 643,051 262,500 262,500 80,000 41,634 (956,630) $33 55
Slide 3: Related party land transfer, bank indebtedness and loans
In December, 2004, the Company's Canadian subsidiaries transferred their land, buildings and related site improvements for $25,375,000, to a related company, IPTI Properties Inc., based on the directors' best estimate of fair market value. These related party transactions in these financial statemen
Slide 4: Dekka and Amerikan long-term debt
Dekka: GE Canada loan ($490,123 US, 2005 $901,144 US), bearing interest at LIBOR pins 2.5%, monthly payments of $38,592 US, due October 2007 GE Canada loan, bearing interest at a fixed rate of 5.65%, monthly payments of $39,011, due December 2008 GE Canada loan (855,000 euros), bearing interest at a
Slide 5: Texon and ITML long-term debt
Texon: Central National Bank loan (2005 - $294,507 US), bearing interest at Central Bank prime less 0.5%, monthly payments of $14,196 US, due September 2006 and repaid during the year. ITML: GE Capital loan, bearing interest at BA plus 1.9%, monthly payments of $71,887, due August 2008 GE Capital lo
Slide 6: ITML (continued) and Kord USA debt
2006 2005 (unaudited) ITML (continued): GE Capital Loan, bearing interest at 5.65% fixed, monthly payments of $23,412, due December 2008 571,652 - GE Capital Loan, bearing interest at 5.78% fixed, monthly payments of $5,457, due December 2012 339,007 - GE Capital loan ($1,690,045 US), bearing intere
Slide 7: Kord (continued) and WhiteRidge debt
Kord (continued): GE Capital loan (2005 - $96,493 US), bearing interest at prime plus 2.48%, monthly payments of $8,658 US, due September 2006 and repaid during the year. GE Capital loan ($313,794 US, 2005 $576,991 US), bearing interest at prime plus 2.5%, monthly payments of $24,710 US, due October
Slide 8: Debt repayment on sale of the Company and security
In conjunction with the sale of the Company on January 9, 2007 (see note 17(d)), the new corporate owner paid out all of the long-term debt other than what continues to be categorized as long-term in the table above, which is the Amerikan, LLC Industrial Development Revenue Bond and the two WhiteRid
Slide 9: Loans payable to related parties
Loans payable to related parties:
Slide 10: Related party loans repaid and share capital
In conjunction with the sale of the Company on January 9, 2007 (see note 17(d)), the new corporate owner paid out all loans payable to related parties and consequently, all are classified as current as at October 31, 2006. Share capital:
Slide 11: Share capital increase and contingencies
During the fiscal year the Company increased the stated capital of the 1,000,000 common shares by the issuance of a series of deemed dividends equal to an identical amount. Contingencies: The Company has provided a $600,000 US letter of guarantee to Sun Trust Bank as collateral for the $8,000,000 US