4r.. - FIRESTONE PLANT ATIONS 1992 PRODUCTION 8: SHIPMENTS Jan-? Apr IWay Estates Promotion 0.2 Purchased Rubber - - Total 0 2 FACTORY PRODUCTION Latex - - Block Rubber - - Total - - Processing Loss - - Few The 4.8 rrillon out of spec ?therefore deemed scrap material. it was SM 7 iany 1m torralre room tor new latex production. This mecl'lanical stabili Dueto m?teslip?s Mileatsea. rm?? ty. close to a million pounds?ot this shipment coagulated See some comm 1.5 11.5 (090 Pounds in Millions0.6 Oct some 2.4 4.7 0.2 011 N90 001:? homo 9903* maze-m Nov- Year Dec Total - 10.1 0.4 - 10opening inventory was old latex from 1990. This latex was extremely out as distressed latex wassoldatmoentsper 0 Estates prouxaion for 1992 was onl 10% of the plantation's potential. Nc production January through April. then shut down end 0 October. Factory production oomrnenced August 1992 andvesstopp?edendotOctober. 0 93% of 1992 production currently remains in inventory at its Hamel storage facilities. 4-13-93 as-? -.- 063702 Fc. was: Rm: i 'Lu .7. H.. FIRESTONE PLANTATIONS COMPANY 1992 FINISHED GOODS PRODUCTION (ORG Pounds in Milleons) LATEX RUBBER . TOTAL OPENING INVENTORY 4 - 4.3 PRODUCTION 5 3 3.9 9.2 SHIPMENTS (4 8) (5.4) ENDING INVENTORY 5.3 3.3 8 6 The 4.8 mu?ion pounds of opening was old latex Item 1999 Thus later was entwiner cu! a! spec and was meteIore deemed scrap material. II was shipped out as dishessed me: in JuIy 1992.10 make room Ior new IaIex production This malesi?! was sold a! cenrs per pound. Due to poor mechanical slaoihty. Close 10 a million pounds 01 this shipment coagulaled 5111110 stup's tanks whale at sea. 0 Estates pvoducu?on Io: 1992 was only 10% 01 the planmion?s polenlial. No produclion January through Apr?. men snul down end of October. Faclory producIlon commenced August 1992 and was stopped end a! Octolaer. I 0 93% of 1992 production currently remauns in Inventory 31 Its Harbel slomgo IaciIities. 4 - 12 - 9:1 I-BF 063701 so. Noam Parse 7. 1 FIRE STONE PLANTATIONS COMPANY CURRENT DEBT POSITION AND OPTIONS in Militant.) Balance Batance as at Febtuary 23.1993 . . 33 7 Debt Increase (6:90 - 2:93) .. .I ., 35 3 The company's Current debt position is a good measure at the huge and crippling losses has incurred due to me cwil war in?Libena This. plus the physical loss at assets and damage to property. add to a total loss at over $50 million. 512.3 Spent 6&0 - rarer l0r misc obligations and expenses while awaiting return to operation amount inctudes shipments 0! rice for humanitarian and 23.0 Spent in 9992 tor plantation rehabilitation. pensions and labor settlement. and humanitarian aid (rice. medical and other terms of to employees, 535.2 Total spent to date (6(90 -2!93) 16 5 It 199031 Loss oi vehtt?es. machinery 8. equipment. inventories. trees buildings, are Total loss to date 0 Current estimates ind-care that II will take at least $15 million to rehabilitate the plantation tor the second time This means debt will reach 550 million, before revenues can be gnnerated 0 Management islett With two options. at this time. Abandon. an, invest an additional $15 millian The investment option must include some assurances that the accumulated debt will be repaid over an acceptable period. . 0 In view 01 this predicament. management sees the tollowing as some at the necessary conditions to the Viability of its return to Liberia' 1 Modi?cation of existing concessmn agreement 2 Recognition at all taxes paid to the NPRAG. then the administrative body of the territory according to the Yamasoukrd Agreement 3 Recognition of inventory looted by military. Acceptable teteign exchange policy (actual rate as set Ly the market) 5 Assurance ot sate and secure working environment a. t-ta-ea 063700 Ian'reA'cu'Dee-r lilo? 43am 5f A FIRESTONE PLANTATIONS COMPANY SCHEDULE OF TAX PAYMENTS TO THE NPRAG (U 50 in Thousands} 1992 WITHHOLOING TAXES 8 OTHER TAXES IMPOSED ON FPCO 1ncome Soc Sec Soc Sec Land Recon Pension lnjuty Rent a. Total I Ta! Scheme Scheme Dunes Imposed .27Jul 1154 299 glib Nov as 23 6 - 11s Lag? Dec 91 15 4 9 too 11%} Adj 112 17.0 - 232 Total 1 272 459 99 935 2.365 11 moums mo IN CASH mo 11: KIND Casn 01 Rice or - Check Eqmo Tolal Paid lnru 0:192 1.019 '791 1,330 Nov Total 1.365 999 2.364 (OVERNUNDER PMMENT .1 . 1 11919:. a Land ronl collected lor the years 1991 and 1992 I 1.3: 053599 3-22-99 Mom: ?rst, . FIRESTONE PLANTATIONS CO SCHEDULE OF TAX PAYMENTS TO THE NPRAG in Thousands) TAXES IMPOSED ON FPCO -u . .- Payroll Taxes Secunly Pension Scheme Securin Injury Scheme Concession Lease Impon Dulias Total Amount of Taxes Imposed on FPCO 1.272 669 89 120 415 . 2.3.9.3 MADE By 5393; IjashICheck Payments R-ca. Budding and Equipment 'mal Payments Made by FPCO 063698 m-x, wan: Pan-e,