Attached files
file | filename |
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8-K - Bill The Butcher, Inc. | rsoo_8k.htm |
EX-2.1 - Bill The Butcher, Inc. | rsoo_ex2-1.htm |
EX-99.1 - Bill The Butcher, Inc. | rsoo_ex99-1.htm |
Exhibit 99.2
UNAUDITED PRO FORMA FINANCIAL INFORMATION
The Unaudited Pro Forma Financial Information reflects financial information, which gives effect to the acquisition of all of the outstanding common shares of W K Inc. (a private Washington Corporation) by Reshoot & Edit (a Nevada Corporation).
The Pro Forma Statements included herein reflect the use of the purchase method of accounting for the above transaction. Such financial information has been prepared from, and should be read in conjunction with, the historical unaudited financial statements of Reshoot & Edit and W K Inc. included in this memorandum.
The Pro Forma Balance Sheet and Pro Forma Statement of Operations gives effect to the transaction as if it had occurred at the beginning of the earliest period presented, combining the results of Reshoot & Edit for November 30, 2009 and W K Inc for the period ended December 31, 2009.
F-1b
Reshoot & Edit (“Reshoot”)
Pro Forma Condensed Consolidated Balance Sheet
Historical
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Historical
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(Unaudited)
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Reshoot
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W K Inc.
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Pro forma
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Pro forma
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ASSETS
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11/30/2009
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12/31/2009
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Adjustments
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Reshoot
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Current assets:
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Cash and cash equivalents
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$ | 300,264 | $ | 28,437 | - | $ | 328,701 | |||||||||
Accounts receivable
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7,852 | - | 7,852 | |||||||||||||
Accounts receivable
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||||||||||||||||
- related party
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52,078 | - | - | 52,078 | ||||||||||||
Advances
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5,000 | - | - | 5,000 | ||||||||||||
Prepaid expense
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5,500 | 334 | - | 5,834 | ||||||||||||
Inventory
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- | 58,273 | - | 58,273 | ||||||||||||
Total current assets
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362,842 | 94,896 | - | 457,738 | ||||||||||||
Fixed Assets
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||||||||||||||||
Fixed assets
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688 | 37,357 | - | 38,045 | ||||||||||||
Total fixed assets
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688 | 37,357 | - | 38,045 | ||||||||||||
Security Deposits
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6,365 | 502 | - | 6,867 | ||||||||||||
Intangible assets
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4,500 | - | - | 4,500 | ||||||||||||
Total other assets
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10,865 | 502 | - | 11,367 | ||||||||||||
Total Assets
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$ | 374,395 | $ | 132,755 | - | $ | 507,150 | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities
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Accounts payable and
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Accrued expenses
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1,181 | 3,082 | - | 4,263 | ||||||||||||
Loans
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1,339 | - | 1,339 | |||||||||||||
Loans from related party
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103,016 | - | 103,016 | |||||||||||||
Total Liabilities
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1,181 | 107,437 | - | 108,618 | ||||||||||||
Shareholders’ equity
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||||||||||||||||
Preferred stock, Series A,
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$.001 par value
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- | - | - | - | ||||||||||||
Preferred stock, Series B,
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$.001 par value
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- | - | - | - | ||||||||||||
Preferred stock, Series C,
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||||||||||||||||
$.001 par value
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- | - | - | - | ||||||||||||
Common stock, $.001 par value
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5,931 | 1,000 | - | 6,931 | ||||||||||||
Additional paid in capital
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694,841 | 34,286 | - | 729,127 | ||||||||||||
Stock subscription receivable
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(250,000 | ) | - | - | (250,000 | ) | ||||||||||
(Deficit) accumulated during
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development state
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(77,558 | ) | (9,968 | ) | - | (87,526 | ) | |||||||||
Total shareholders’
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equity (deficit)
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373,214 | 25,318 | - | 398,532 | ||||||||||||
Total liabilities and
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Shareholders’ equity
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$ | 374,395 | $ | 132,755 | - | $ | 507,150 |
F-2b
Reshoot & Edit (“Reshoot”)
Pro Forma Condensed Consolidated Statements of Operations
Historical
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Historical
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(Unaudited)
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Reshoot
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W K Inc.
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Pro forma
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Pro forma
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11/30/2009
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12/31/2009
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Adjustments
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Reshoot
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Revenue, net
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$ | - | $ | 145,723 | - | $ | 145,723 | |||||||||
Cost of Goods Sold
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- | 95,914 | - | 95,914 | ||||||||||||
Gross Profit
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- | 49,809 | - | 49,809 | ||||||||||||
Expenses
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||||||||||||||||
Store Expenses
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- | 29,929 | - | 29,929 | ||||||||||||
Mktg and Adver Expense
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- | 3,439 | - | 3,439 | ||||||||||||
Selling general and
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administrative expenses
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53,452 | 25,771 | - | 79,223 | ||||||||||||
Total operating expenses
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53,452 | 59,139 | - | 112,591 | ||||||||||||
Net loss from operations
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(53,452 | ) | (9,849 | ) | - | (63,301 | ) | |||||||||
Other Expenses
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Interest Expense
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209 | 119 | - | 328 | ||||||||||||
Net Loss
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$ | (53,661 | ) | $ | (9,968 | ) | - | $ | (63,629 | ) | ||||||
Net loss per share-basic
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$ | (0.01 | ) | $ | (0.17 | ) | - | $ | (0.02 | ) | ||||||
Weighted average number
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of common shares
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outstanding
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4,044,583 | 60,000 | (60,000 | ) | 4,044,583 |
F-3b
Notes to Unaudited Pro Forma Consolidated Financial Statements
December 31, 2009
On March 26th, 2010, Reshoot & Edit entered into a Related Party Agreement to purchase W K Inc., a privately held Washington corporation, As a result of the acquisition, WK became a wholly owned operating subsidiary of the public company.
The balance sheets of Reshoot & Edit and W K Inc. are as of November 30, 2009 and December 31, 2009, respectively. The statements of operations of Reshoot & Edit and W K Inc. are the period ended November 30, 2009 and December 31, 2009, respectively.
F-4b