Exhibit 99.1

INTEGRATED PAPER RECYCLERS, LLC

FINANCIAL STATEMENTS

APRIL 30, 2007, 2006 AND 2005

LOGO





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INTEGRATED PAPER RECYCLERS, LLC

TABLE OF CONTENTS



|                                                                                           |  |     
|------------------------------------------------------------------------------------------ |  | ----
|                                                                                           |  | Page
|Independent Auditors Report                                                               |  | 1   
|                                                                                           | 
|Balance Sheets April 30, 2007, 2006 and 2005                                               |  | 2   
|                                                                                           | 
|Statements of Income and Members Equity For the years ended April 30, 2007, 2006 and 2005 |  | 4   
|                                                                                           | 
|Statements of Cash Flows For the years ended April 30, 2007, 2006 and 2005                 |  | 5   
|                                                                                           | 
|Notes to Financial Statements April 30, 2007, 2006 and 2005                                |  | 7   

LOGO



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LOGO

FEELEY & DRISCOLL, P.C.

Certified Public Accountants/Business Consultants

The Members

Integrated Paper Recyclers, LLC

Woburn, Massachusetts

Independent Auditors Report

We
have audited the accompanying balance sheets of Integrated Paper Recyclers, LLC as of April 30, 2007, 2006 and 2005 and the related statements of income and members equity and cash flows for the years then ended. These financial
statements are the responsibility of the management of Integrated Paper Recyclers, LLC. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to
above present fairly, in all material respects, the financial position of Integrated Paper Recyclers, LLC as of April 30, 2007, 2006 and 2005 and the results of its operations and its cash flows for the years then ended in conformity with
accounting principles generally accepted in the United States of America.



|              |  |      |  | 
|------------- |  | ---- |  | 
|July 17, 2007 |  | LOGO |  | 

200 Portland Street, Boston, Massachusetts 02114-1709  (617) 742-7788

154 Broad Street, P.O. Box 3158, Nashua, New Hampshire 03061-3158  (603) 889-0444

Telefax: (617) 742-0210

www.fdcpa.com



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INTEGRATED PAPER RECYCLERS, LLC

Balance Sheets

April 30, 2007, 2006 and 2005

Assets



|                                          |  |      |           |      |   |           |  |   |          
|----------------------------------------- |  | ---- | --------- | ---- | - | --------- |  | - | ---------
|                                          |  | 2007 |           | 2006 |   | 2005     
|Current assets:                           |  |      |           |      |   |           |  |   |          
|Cash and cash equivalents                 |  | $    | 352,489   |      | $ | 730,195   |  | $ | 765,279  
|Accounts receivable                       |  |      | 523,764   |      |   | 532,411   |  |   | 489,215  
|Inventory                                 |  |      | 40,365    |      |   | 42,557    |  |   | 37,533   
|Prepaid expenses and other current assets |  |      | 97,946    |      |   | 84,392    |  |   | 83,075   
|                                          |  |      |           |      |   |           |  |   |          
|Total current assets                      |  |      | 1,014,564 |      |   | 1,389,555 |  |   | 1,375,102
|                                          |  |      |           |      |   |           |  |   |          
|Property and equipment:                   |  |      |           |      |   |           |  |   |          
|Equipment                                 |  |      | 2,748,870 |      |   | 1,977,707 |  |   | 1,301,639
|Motor vehicles                            |  |      | 2,381,948 |      |   | 2,114,585 |  |   | 1,306,800
|Leasehold improvements                    |  |      | 103,195   |      |   | 74,498    |  |   | 74,498   
|Office equipment                          |  |      | 27,617    |      |   | 22,140    |  |   | 9,892    
|                                          |  |      |           |      |   |           |  |   |          
|                                          |  |      | 5,261,630 |      |   | 4,188,930 |  |   | 2,692,829
|Less accumulated depreciation             |  |      | 2,708,041 |      |   | 1,974,483 |  |   | 1,356,888
|                                          |  |      |           |      |   |           |  |   |          
|                                          |  |      | 2,553,589 |      |   | 2,214,447 |  |   | 1,335,941
|                                          |  |      |           |      |   |           |  |   |          
|Other assets -                            |  |      |           |      |   |           |  |   |          
|Deposits                                  |  |      | 867,666   |      |   | 276,242   |  |   | 399,857  
|                                          |  |      |           |      |   |           |  |   |          
|Total assets                              |  | $    | 4,435,819 |      | $ | 3,880,244 |  | $ | 3,110,900
|                                          |  |      |           |      |   |           |  |   |          

See accompanying notes.



2



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INTEGRATED PAPER RECYCLERS, LLC

Balance Sheets - Continued

April 30, 2007, 2006 and 2005

Liabilities and Members Equity



|                                        |  |      |           |      |   |           |  |   |          
|--------------------------------------- |  | ---- | --------- | ---- | - | --------- |  | - | ---------
|                                        |  | 2007 |           | 2006 |   | 2005     
|Current liabilities:                    |  |      |           |      |   |           |  |   |          
|Current maturities of long-term debt    |  | $    | 310,345   |      | $ | 207,924   |  | $ | 116,877  
|Accounts payable                        |  |      | 346,591   |      |   | 193,576   |  |   | 207,079  
|Note payable, member                    |  |      |          |      |   | 480,531   |  |   | 500,000  
|Accrued expenses:                       |  |      |           |      |   |           |  |   |          
|Distributions                           |  |      | 500,000   |      |   |          |  |   |         
|Other                                   |  |      | 83,319    |      |   | 132,752   |  |   | 91,532   
|                                        |  |      |           |      |   |           |  |   |          
|Total current liabilities               |  |      | 1,240,255 |      |   | 1,014,783 |  |   | 915,488  
|                                        |  |      |           |      |   |           |  |   |          
|Long-term debt, less current maturities |  |      | 191,130   |      |   | 327,643   |  |   | 11,399   
|                                        |  |      |           |      |   |           |  |   |          
|Members equity                         |  |      | 3,004,434 |      |   | 2,537,818 |  |   | 2,184,013
|                                        |  |      |           |      |   |           |  |   |          
|Total liabilities and members equity   |  | $    | 4,435,819 |      | $ | 3,880,244 |  | $ | 3,110,900
|                                        |  |      |           |      |   |           |  |   |          

See accompanying notes.



3



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INTEGRATED PAPER RECYCLERS, LLC

Statements of Income and Members Equity

For the years ended April 30, 2007,
2006 and 2005



|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|------------------------------------------- |  | ---- | --------- | - | ---- | - | ---------- | ---- |  | - | ---------- | -
|                                            |  | 2007 |           |   | 2006 |   |            | 2005 | 
|Revenues                                    |  | $    | 6,797,659 |   |      | $ | 6,638,995  |      |  | $ | 6,063,088  |  
|Cost of revenues                            |  |      | 5,466,836 |   |      |   | 4,930,866  |      |  |   | 4,077,797  |  
|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|Gross profit                                |  |      | 1,330,823 |   |      |   | 1,708,129  |      |  |   | 1,985,291  |  
|Selling, general and administrative expense |  |      | 317,958   |   |      |   | 308,326    |      |  |   | 290,186    |  
|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|Operating income                            |  |      | 1,012,865 |   |      |   | 1,399,803  |      |  |   | 1,695,105  |  
|Interest expense                            |  |      | 46,049    |   |      |   | 45,605     |      |  |   | 28,340     |  
|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|Income before state income taxes            |  |      | 966,816   |   |      |   | 1,354,198  |      |  |   | 1,666,765  |  
|State income taxes                          |  |      | 200       |   |      |   | 393        |      |  |   | 200        |  
|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|Net income                                  |  |      | 966,616   |   |      |   | 1,353,805  |      |  |   | 1,666,565  |  
|Members equity at beginning of year        |  |      | 2,537,818 |   |      |   | 2,184,013  |      |  |   | 2,233,765  |  
|Distributions to members                    |  |      | (500,000  | ) |      |   | (1,000,000 | )    |  |   | (1,716,317 | )
|                                            |  |      |           |   |      |   |            |      |  |   |            |  
|Members equity at end of year              |  | $    | 3,004,434 |   |      | $ | 2,537,818  |      |  | $ | 2,184,013  |  
|                                            |  |      |           |   |      |   |            |      |  |   |            |  

See accompanying notes.



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INTEGRATED PAPER RECYCLERS, LLC

Statements of Cash Flows

For the years ended April 30, 2007, 2006 and 2005



|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|--------------------------------------------------------------------------------- |  | ---- | ---------- | - | ---- | - | ---------- | ---- |  | - | ---------- | -
|                                                                                  |  | 2007 |            |   | 2006 |   |            | 2005 | 
|Cash flows from operating activities:                                             |  |      |            |   |      |   |            |      |  |   |            |  
|Net income                                                                        |  | $    | 966,616    |   |      | $ | 1,353,805  |      |  | $ | 1,666,565  |  
|Adjustments to reconcile net income to net cash provided by operating activities: |  |      |            |   |      |   |            |      |  |   |            |  
|Depreciation and amortization                                                     |  |      | 733,558    |   |      |   | 617,595    |      |  |   | 470,383    |  
|Changes in operating assets and liabilities:                                      |  |      |            |   |      |   |            |      |  |   |            |  
|(Increase) decrease in accounts receivable                                        |  |      | 8,647      |   |      |   | (43,196    | )    |  |   | 459,611    |  
|(Increase) decrease in prepaid expenses and other current assets                  |  |      | (13,554    | ) |      |   | (1,317     | )    |  |   | 14,354     |  
|(Increase) decrease in inventory                                                  |  |      | 2,192      |   |      |   | (5,024     | )    |  |   | (2,571     | )
|Increase (decrease) in accounts payable                                           |  |      | 153,015    |   |      |   | (13,503    | )    |  |   | 81,067     |  
|Increase (decrease) in accrued expenses                                           |  |      | (49,433    | ) |      |   | 41,220     |      |  |   | 21,077     |  
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Net cash provided by operating activities                                         |  |      | 1,801,041  |   |      |   | 1,949,580  |      |  |   | 2,710,486  |  
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Cash flows from investing activities:                                             |  |      |            |   |      |   |            |      |  |   |            |  
|Deposits (paid) refunded                                                          |  |      | (591,424   | ) |      |   | 123,615    |      |  |   | (363,957   | )
|Purchases of property and equipment                                               |  |      | (812,346   | ) |      |   | (772,630   | )    |  |   | (486,878   | )
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Net cash used in investing activities                                             |  |      | (1,403,770 | ) |      |   | (649,015   | )    |  |   | (850,835   | )
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Cash flows from financing activities:                                             |  |      |            |   |      |   |            |      |  |   |            |  
|Principal payments on long-term debt                                              |  |      | (294,446   | ) |      |   | (316,180   | )    |  |   | (429,384   | )
|Issuance of note payable, member                                                  |  |      |           |   |      |   | 480,531    |      |  |   | 500,000    |  
|Principal payments on note payable, member                                        |  |      | (480,531   | ) |      |   | (500,000   | )    |  |   |           |  
|Distributions to members                                                          |  |      |           |   |      |   | (1,000,000 | )    |  |   | (1,716,317 | )
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Net cash used in financing activities                                             |  |      | (774,977   | ) |      |   | (1,335,649 | )    |  |   | (1,645,701 | )
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Net increase (decrease) in cash and cash equivalents                              |  |      | (377,706   | ) |      |   | (35,084    | )    |  |   | 213,950    |  
|                                                                                  |  |      |           
|Cash and cash equivalents at beginning of year                                    |  |      | 730,195    |   |      |   | 765,279    |      |  |   | 551,329    |  
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  
|Cash and cash equivalents at end of year                                          |  | $    | 352,489    |   |      | $ | 730,195    |      |  | $ | 765,279    |  
|                                                                                  |  |      |            |   |      |   |            |      |  |   |            |  

See accompanying notes.



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INTEGRATED PAPER RECYCLERS, LLC

Statements of Cash Flows

For the years ended April 30, 2007, 2006 and 2005



|                                                   |  |      |        |      |   |        |  |   |       
|-------------------------------------------------- |  | ---- | ------ | ---- | - | ------ |  | - | ------
|                                                   |  | 2007 |        | 2006 |   | 2005  
|Supplemental disclosures of cash flow information: |  |      |        |      |   |        |  |   |       
|Cash paid during the year for:                     |  |      |        |      |   |        |  |   |       
|Income taxes                                       |  | $    | 200    |      | $ | 393    |  | $ | 200   
|                                                   |  |      |        |      |   |        |  |   |       
|Interest                                           |  | $    | 46,049 |      | $ | 45,605 |  | $ | 28,340
|                                                   |  |      |        |      |   |        |  |   |       

Supplemental disclosures of non-cash transactions:

The Company financed the purchases of equipment for $260,354, $723,471, and $67,440 during the years ended April 30, 2007, 2006 and 2005,
respectively.

During the year ended April 30, 2007, the Company accrued distributions to the members of $500,000.

See accompanying notes.



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INTEGRATED PAPER RECYCLERS, LLC

Notes to Financial Statements

April 30, 2007, 2006 and 2005

Note 1 - Nature of Business

Integrated Paper Recyclers, LLC
(the Company) collects and delivers loose and baled paper under collection contracts in the New England region. The Company also sorts and bales recovered paper, plastic, cans and glass at their facility for re-sale.

Note 2 - Significant Accounting Policies

A summary of the
significant accounting policies followed by the Company in the preparation of the accompanying financial statements is set forth below:

Estimates -
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and
the disclosure of contingent assets and liabilities at the date of the financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition - The Company recognizes revenues under the accrual method of accounting. Under contract agreements, as paper collections are
completed, the Company recognizes revenues when the customer is billed. Additionally, on sales of recycled materials, the Company recognizes revenues when the product has been delivered to the customer and the Company has billed the customer for the
materials.

Allowance for Doubtful Accounts - The Company provides an allowance for doubtful accounts equal to estimated bad debt losses. The
estimated losses are based on historical collection experience together with a review of the current status of the existing receivables. No allowance was deemed necessary for the years ended April 30 2007, 2006 and 2005.

Inventory - Inventory consists of recyclable materials and is accounted for at the lower of cost or market.

Property and Equipment - Property and equipment are stated at cost. Major renewals, additions and betterments are charged to the property accounts while
replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed in the year incurred.

Depreciation - Depreciation is computed using primarily straight-line methods over the estimated useful lives of the related assets as follows:



|                       |  |              
|---------------------- |  | -------------
|Assets                 |  | Life in Years
|Equipment              |  | 5-10         
|Motor vehicles         |  | 5            
|Leasehold improvements |  | 15-39        
|Office equipment       |  | 5            



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INTEGRATED PAPER RECYCLERS, LLC

Notes to Financial Statements - Continued

April 30, 2007, 2006 and 2005



Note 2 - Significant Accounting Policies - Continued



Income Taxes - The Company has elected to be taxed as a partnership. As such, corporate income, losses and
credits are passed through to the members. The Company accrues distributions to the members to reflect the increase in tax liabilities related to corporate income included on the members tax returns.

Advertising - Advertising costs are expensed in the year incurred. Advertising expense was $-0-, $2,395 and $ 1,940 for the years ended April 30, 2007, 2006
and 2005, respectively.

Note 3 - Cash and Cash Equivalents

The Company considers its holdings to be cash equivalents if the instruments mature within ninety (90) days from the date of acquisition and have no penalty for early withdrawal. Accounts at each institution are
insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000. The Companys uninsured bank balances totaled $352,133, $726,310 and $693,287 for the years ended April 30, 2007, 2006 and 2005, respectively.

Note 4 - Note Payable, Line of Credit

The Company has a
$500,000 revolving note payable, line of credit that automatically renews annually without a stated expiration date. The note payable, line of credit is secured by substantially all business assets of the Company and is personally guaranteed by a
member of the LLC. The note payable, line of credit bears interest at the banks prime rate plus one percent (1.00%). At April 30, 2007, 2006 and 2005 there were no outstanding borrowings on the note payable, line of credit.

Note 5 - Long-term Debt

The following is a summary of
long-term debt at April 30:



|                                                                                                                                                                                                                      |  |          |  |          |  |          
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- |  | -------- |  | ---------
|                                                                                                                                                                                                                      |  | 2007     |  | 2006     |  | 2005     
|Notes payable, finance companies, with monthly payments from $1,356 to $10,366 including interest payments at rates ranging from 0% to 9.9%
through June 2009. The notes are collateralized by the related equipment. |  | $501,475 |  | $535,567 |  | $128,276 
|Less current maturities                                                                                                                                                                                               |  | 310,345  |  | 207,924  |  | 116,877  
|                                                                                                                                                                                                                      |  |          |  |          |  |          
|                                                                                                                                                                                                                      |  | $191,130 |  | $327,643 |  | $  11,399
|                                                                                                                                                                                                                      |  |          |  |          |  |          



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INTEGRATED PAPER RECYCLERS, LLC

Notes to Financial Statements

April 30, 2007, 2006 and 2005



Note 5 - Long-term Debt - Continued



Aggregate maturities of long-term debt are as follows for the years ending April 30:



|     |  |   |        
|---- |  | - | -------
|2008 |  | $ | 310,345
|2009 |  |   | 184,296
|2010 |  |   | 6,834  
|     |  |   |        
|     |  | $ | 501,475
|     |  |   |        

Note 6 - Related Party Transactions and Commitments

The Company receives administrative support from an affiliate through common ownership. During the years ended April 30, 2007, 2006 and 2005, the
Company paid the affiliate a management fee of $132,000 each year as well as additional general and administrative expenses of $83,991, $75,425, and $70,839, respectively.

The Company rents an operating facility under an operating lease from a related party through common ownership. The operating lease calls for monthly
payments of $8,266 through October 1, 2007. The Company incurred lease expense of $93,917, $67,539 and $67,539 to the related party for the years ended April 30, 2007, 2006, and 2005, respectively.

Minimum future rental payments under the operating lease are as follows for the year ended April 30:



|     |  |   |       
|---- |  | - | ------
|2007 |  | $ | 41,330
|     |  |   |       

The Company derived revenues of $5,074,942, $4,830,333, and $4,570,235 for the years ended
April 30, 2007, 2006 and 2005, respectively, through transactions with an affiliate through common ownership. The Company had accounts receivable from the related party of $361,845, $328,767 and $302,249 at April 30, 2007, 2006 and 2005,
respectively.

The Company rents office space as a tenant at will from a relative of a member. Rent expense to the related party was $3,600
for the years ended April 30, 2007, 2006 and 2005, respectively.

The Company had notes payable, member of $480,531 and $500,000 at
April 30, 2006 and 2005, respectively. The notes payable, member accrued interest at six percent (6%) and were repaid in fiscal years 2007 and 2006, respectively.

The Company has collection agreements with seven (7) towns. The agreements call for the Company to purchase recyclable material based on a stated
formula. The agreements expire at various dates from April 2008 to April 2010.



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INTEGRATED PAPER RECYCLERS, LLC

Notes to Financial Statements - Continued

April 30, 2007, 2006 and 2005



Note 7 - Income Taxes



The Company accrues distributions to the members to cover the federal and state income taxes which
must be paid by the members on their income tax returns resulting from corporate taxable income included on their income tax returns. The total distributions accrued at April 30, 2007 were $500,000. No distributions were accrued at
April 30, 2006 and 2005.

Note 8 - Concentrations

Transactions with two (2) customers accounted for approximately ninety-four percent (94%), ninety-six percent (96%), and ninety-six percent (96%) of the Companys revenues for the years ended April 30, 2007, 2006 and
2005, respectively.

Two (2) customers accounted for approximately eighty-four percent (84%), eighty-nine percent (89%), and
eighty-seven percent (87%) of the Companys accounts receivable for the years ended April 30, 2007, 2006 and 2005, respectively.

Note 9 -
Subsequent Event

Subsequent to April 30, 2007, the Company entered into a contract with a municipality for weekly recycling pick-up
for three (3) years. As a requirement under the contract, the Company secured a performance bond.



10