Balance Sheet
Churches of God Cyber Auxiliary
December 31, 1998

Current Assets:
  Cash                                                                                                $     1,819.21
  Deposits & Prepaids                                                                                      1.00
                                                                                                          --------------
Total Current Assets                                                                           $    1,820.21
                                                                                                          =========
Equities:
  Surplus (Deficit) retained from prior years                  $      1,139.52
  Current Year:
    Contributions                                  $      1,823.19
    Less: Expenses                                       1,142.50
                                                          ---------------
  Current Year Surplus (Deficit)                                              680.69
                                                                                  ---------------
Total Surplus (Deficit) Retained                                                          $      1,820.21
                                                                                                          --------------
Total Equities                                                                                     $      1,820.21
                                                                                                          =========

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Statement of Receipts & Expenses
Churches of God Cyber Auxiliary
For period from January 1, 1998 through December 31, 1998

Contributions Recieved                                                                    $       1,823.19
Less Expenses:
  Equipment Expense (Note 1)                                    $      202.00
  Software Expense (Note 2)                                              763.46
  Consulting expense                                                               0.00
  Office Expense                                                                     7.04
  Bank Expense                                                                      0.00
  Legal & Registration Fees (Note 3)                                  110.00
  P.O.Box Rental Expense                                                    60.00
                                                                                --------------
  Total Expenses                                                                                       1,142.50
                                                                                                        ---------------
Total Contributions less Expenses Surplus (Deficit)                             $        680.69
                                                                                                        ==========
Note: These financial statements have not been audited

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Financial Statement Notes
Churches of God Cyber Auxiliary
For period from January 1, 1998 through December 31, 1998

Note 1:
Upgraded computer system from Pentium 90 to Pentium 200.

Note 2:
Purchased REAL Networks Basic server 5.0 - 60 stream version at a special price of $763.46, which includes shipping & sales tax.  This server is used for cybercasting live audio services and archived audio and video presentations from individual web sites.

Note 3:
Registered Domain name of CGCA.NET with InterNIC Registration Services, at a cost of $100.00.   Registration was through Network Solutions, Inc. of Baltimore MD 21297-0525, invoice #296295.  State of Montana required an annual $10.00 fee for maintaining corporate status.

Note 4:
Dan Deininger, president of Churches of God Cyber Auxiliary (CGCA), in August, 1998 terminated his employment and surrendered his 20% ownership share of Internections, a company he founded.  Internections currently hosts Churches of God Cyber Auxiliary T1 Internet access.

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