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| | Business Summary: Two Rivers Water Company, through its subsidiary, HCIC Holdings, LLC, engages in water acquisition, development, and distribution business in Huerfano County, Colorado. | | | Address
2000 South Colorado Blvd., Suite 200
Denver
, CO 80222
Phone: 303-222-1000
| | Auditor |
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SCHUMACHER & ASSOCIATES
| | Transfer Agent |
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Computershare Trust Co., Inc.
| Employees: 7
ShareHolders: 1000 | Founded: 2002
Domicile: Colorado | | | |
| | Two Rivers Water Company, through its subsidiary, HCIC Holdings, LLC, engages in water acquisition, development, and distribution business in Huerfano County, Colorado. The company also involves in the property management and residential real estate brokerage in Arizona, and development of a three unit residential condominium in Boston, Massachusetts. In addition, it focuses on acquiring and operating agriculture land either as a sole operator or in joint venture with other individuals and companies; and producing alternative energy primarily from solar energy on land owned by the company. The company was formerly known as Navidec Financial Services, Inc. and changed its name to Two Rivers Water Company in November 2009. Two Rivers Water Company was founded in 2002 and is based in Denver, Colorado. | | History: INCORPORATED in Colorado Dec. 20, 2002, as Navidec Capital, Inc.; name changed to Navidec Financial Services, Inc. Oct. 24, 2003; and to Two Rivers Water Co. Jan. 15, 2010. | | | | Subsidiaries: |
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Northsight, Inc.
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Management
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| Officers | Position |
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| John R. McKowen | Chairman, President, Chief Accounting Officer & Chief Executive Officer | | Wayne Harding, III | Secretary & Chief Financial Officer |
| | Directors |
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| Wayne Harding, III | | Jolee R. Henry | | John R. McKowen | | John Stroh, II | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 10,000,000 | None | | Common $0.001 par | 100,000,000 | 11,049,583 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
12/31/2009,
1000.
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Transfer Agent: Computershare Trust Co., Inc.
Golden
, CO | | | | OTC Bulletin Board( Primary): TURV | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 2.1000 | 0.2400 | | OTC Bulletin Board | 2008 | 2.0000 | 0.5100 | | OTC Bulletin Board | 2007 | 1.1400 | 0.2000 |
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| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| REVENUES |
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| | Loan Fees and Real Estate Income | 91 | - | | Interest Revenues | 43 | 313 | | Other Income | 11 | 1 | | Total Revenue | 145 | 314 | | EXPENSES |
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| | Cost of Loan Fees Including Facilities and Commissions | (89) | - | | General and Administrative | (1,723) | (1,320) | | Depreciation and Amortization | (7) | (5) | | Interest Expense | (54) | (68) | | Interest Income | 42 | - | | Gain on Sale of Investments | 33 | 5,581 | | Other Income/expense | - | 2 | | Impairments and Allowances | - | (1,962) | | Earnings before Taxes | (1,653) | 2,542 | | TAXES AND OTHER EXPENSES |
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| | Provision for Income Tax | 314 | (810) | | Minority Interest (After Tax) | 175 | - | | Earnings of Discontinued Operations | (1,922) | (1,720) | | Earnings of Discontinued Operations | 161 | 170 | | Net Income (Loss) | (2,925) | 182 | | SUPPLEMENTARY INFO |
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| | Operating Income (Loss) | (1,674.00) | (1,011.00) | | Continuing operations per share basic | (0.13) | 0.19 | | Discontinued operations per share | (0.20) | (0.17) | | Net income per share basic | (0.33) | 0.02 |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| ASSETS |
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| | Cash and Cash Equivalents | 616 | 874 | | Mortgage Receivables | 232 | 2,197 | | Note Receivable - Aegis/grizzle | 295 | 450 | | Incomes Taxes Receivable | 489 | - | | Accrued Interest Receivable | 4 | 88 | | Prepaid Expenses | 16 | 21 | | Advances and Accounts Receivable | 1 | - | | Asset Held for Sale | 134 | - | | Deposits | 202 | - | | Property and Equipment and Software, Net | 94 | 114 | | Dam Construction | 163 | - | | Other Assets | - | 3 | | Investment in Boston Property | 2,073 | 2,315 | | Option on Real Estate | 2,586 | - | | Land and Water Shares | 3,258 | - | | Other Real Estate Owned | 1,042 | 3,288 | | Total Assets | 11,205 | 9,350 | | LIABILITIES |
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| | Deposits Held | 30 | - | | Accounts Payable | 281 | 149 | | Accrued Liabilities | 5 | 38 | | Accrued Taxes Payable | - | 85 | | Short-term Borrowings | 950 | 1,391 | | Note Payable - Roehrich | 2,175 | - | | Minority Interest | 2,675 | - | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 9 | 9 | | Additional Paid in Capital | 9,200 | 8,873 | | Retained Earnings | (4,120) | (1,195) | | Total Shareholders Equity | 5,089 | 7,687 | | Total Liabilities & Shareholders Equity | 11,205 | 9,350 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 50,000 | | 2009 |
1 | 160,000 | | 2009 |
3 | 20,000 | | 2009 |
Full Year
| 140,000 | | 2008 |
1 | 260,000 | | 2008 |
2 | 350,000 | | 2008 |
3 | 220,000 | | 2008 |
4 | 1,350,000 | | 2008 |
Full Year
| 1,350,000 | | 2007 |
3 | 100,000 | | 2007 |
4 | 50,890,000 | | 2007 |
Full Year
| 690,000 | | 2006 |
4 | (50,000) | | 2005 |
2 | 780,000 | | 2005 |
Full Year
| 40,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (710,000) | | 2009 |
1 | (590,000) | | 2009 |
2 | (340,000) | | 2009 |
3 | (740,000) | | 2009 |
Full Year
| (1,160,000) | | 2008 |
1 | 1,110,000 | | 2008 |
2 | 610,000 | | 2008 |
3 | (1,540,000) | | 2008 |
Full Year
| 180,000 | | 2007 |
3 | 2,260,000 | | 2007 |
Full Year
| 4,290,000 | | 2006 |
Full Year
| (460,000) | | 2005 |
Full Year
| (1,380,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.07) | | 2009 |
1 | (.07) | | 2009 |
2 | (.04) | | 2009 |
3 | (.08) | | 2009 |
Full Year
| (.13) | | 2008 |
1 | .07 | | 2008 |
2 | .04 | | 2008 |
3 | (.17) | | 2008 |
4 | (.03) | | 2008 |
Full Year
| .02 | | 2007 |
2 | .05 | | 2007 |
3 | .17 | | 2007 |
4 | .06 | | 2007 |
Full Year
| .28 | | 2006 |
2 | (.01) | | 2006 |
3 | (.01) | | 2006 |
4 | (.02) | | 2006 |
Full Year
| (.06) | | 2005 |
1 | (.06) | | 2005 |
2 | (.18) | | 2005 |
Full Year
| (.19) |
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