DRY DREDGERS, INC

BALANCE SHEET

FOR THE YEAR ENDED AUGUST 31 2004

ASSETS

Cash & Cash Equivalents

14,871.86

Investments

24,306.64

Book Inventory

237.65

Fixed Assets

802.68

Intangibles

185.00

Total Assets

40,403.83

LIABILITIES & EQUITY

Liabilities

0

Member Equity

40,403.83

Total Liabilities & Equity

40,403.83

DRY DREDGERS, INC

STATEMENT OF INCOME AND EXPENSE

SEPTEMBER 1 2002 TO AUGUST 31 2003

INCOME

Net Member Income

3,378.01

Exempt Purpose Activities

4,174.97

Donations

749.00

Interest

338.01

Total Income

8,639.99

Expenses

Paul Sanders Awards

510.00

Paleontology Related Donations

150.64

Other Expenses

1,487.88

Total Expenses

2,148.52

Net Income

6,491.47