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Chemalite CaseEssay Preview: Chemalite CaseReport this essayFinancial StatementsPerformance Analysis:From 01/01/2003 to 06/30/2003:During the first six months of 2003, Chemalite has just been established, so there were no selling activities. During this period, Alexander issued $500,000 of common stock in exchange for the patent of chemalite and liquid cash. Cash was then invested in so-called incorporation.