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## 3. Business combination (continued) 

The fair values of assets and liabilities acquired as at July 21, 2000 are as follows: 

## CONSOLIDATED WATER CO. LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

(Expressed in United States dollars) 

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The results of operations of Belize Water Ltd. are included in the consolidated statements of operations from the date of acquisition. Unaudited proforma combined results of operations of Consolidated Water Co. Ltd. and Belize Water Ltd. would be as follows: 

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