Attached files
| file | filename |
|---|---|
| 8-K - YARRAMAN WINERY, INC. | v185707_8k.htm |
| EX-2 - YARRAMAN WINERY, INC. | v185707_ex2.htm |
| EX-1 - YARRAMAN WINERY, INC. | v185707_ex1.htm |
Exhibit 3
GLOBAL
BEVERAGES, INC. AND SUBSIDIARIES
UNAUDITED
PRO FORMA CONDENSED COMBINED BALANCE SHEET
JUNE 30,
2009
|
Global
Beverages,
Inc.
|
Asia
Distribution
Solutions
|
Pro
Forma
Adjustments
|
Pro
Forma
|
|||||||||||||||||
|
Assets
|
||||||||||||||||||||
|
Current
Assets
|
||||||||||||||||||||
|
Cash
and cash equivalents
|
$ | (38,816 | ) | $ | 147,222 | $ | 108,406 | |||||||||||||
|
Accounts
receivable
|
760,313 | 504,254 | 1,264,567 | |||||||||||||||||
|
Inventory
|
3,362,528 | 632,943 | 3,995,471 | |||||||||||||||||
|
Prepaid
expenses
|
- | 30,284 | 30,284 | |||||||||||||||||
|
Due
from related party
|
- | 1,687,382 | 1,687,382 | |||||||||||||||||
|
Other
receivables
|
- | 422,802 | 422,802 | |||||||||||||||||
|
Total
Current Assets
|
4,084,025 | 3,424,887 | 7,508,912 | |||||||||||||||||
|
Fixed
assets, net
|
3,528,013 | 8,257 | 3,536,270 | |||||||||||||||||
|
Other
Assets
|
||||||||||||||||||||
|
Deposits
|
190,961 | 560,607 | 751,568 | |||||||||||||||||
|
Goodwill
|
- | 4,954,210 | 4,954,210 | |||||||||||||||||
|
Investment
in subisiaries
|
- | 1 | 26,637,465 | - | ||||||||||||||||
| 2 | (26,637,465 | ) | ||||||||||||||||||
|
Intangible
|
19,459,248 | 210,350 | 2 | 18,776,693 | 38,446,291 | |||||||||||||||
|
Total
Current Assets
|
19,650,209 | 5,725,167 | 18,776,693 | 44,152,069 | ||||||||||||||||
|
Total
Assets
|
$ | 27,262,247 | $ | 9,158,311 | $ | 18,776,693 | $ | 55,197,251 | ||||||||||||
|
Liabilities
and Stockholders' Equity
|
||||||||||||||||||||
|
Current
Liabilities
|
||||||||||||||||||||
|
Accounts
payable and accrued expenses
|
$ | 1,929,056 | $ | 98,782 | - | $ | 2,027,838 | |||||||||||||
|
Loan
payable
|
13,095 | - | 13,095 | |||||||||||||||||
|
Due
to related party
|
3,396,616 | 1,666,357 | 5,062,973 | |||||||||||||||||
|
Deferred
revenue
|
- | 14,464 | 14,464 | |||||||||||||||||
|
Provision
for income tax
|
- | 138,287 | 138,287 | |||||||||||||||||
|
Line
of credit
|
- | 568,540 | 568,540 | |||||||||||||||||
|
Capital
lease, current portion
|
42,539 | - | 42,539 | |||||||||||||||||
|
Other
payable
|
- | 138,499 | 138,499 | |||||||||||||||||
|
Total
Current Liabilites
|
5,381,306 | 2,624,929 | 8,006,235 | |||||||||||||||||
|
Long-term
debt, net of current portion
|
4,627,379 | - | 4,627,379 | |||||||||||||||||
|
Total
Liabilities
|
10,008,685 | 2,624,929 | 12,633,614 | |||||||||||||||||
|
Stockholders'
Equity
|
||||||||||||||||||||
|
Common
stock
|
39,390 | 637,780 | 1 | 49,107 | 88,497 | |||||||||||||||
| 2 | (637,780 | ) | ||||||||||||||||||
|
Preferred
stock
|
55 | 55 | ||||||||||||||||||
|
Subscription
receivable
|
(66,000 | ) | - | (66,000 | ) | |||||||||||||||
|
Additional
paid in capital
|
30,851,807 | 6,587,468 | 1 | 26,588,358 | 57,440,165 | |||||||||||||||
| 2 | (6,587,468 | ) | ||||||||||||||||||
|
Share
option reserve
|
- | 227,224 | 2 | (227,224 | ) | - | ||||||||||||||
|
Other
comprehensive income
|
(456,752 | ) | 95,180 | 2 | (95,180 | ) | (456,752 | ) | ||||||||||||
|
Retained
earnings (deficits)
|
(13,114,938 | ) | (1,014,270 | ) | 2 | (313,120 | ) | (14,442,328 | ) | |||||||||||
| - | ||||||||||||||||||||
|
Total
Stockholders' Equity
|
17,253,562 | 6,533,382 | 18,776,693 | 42,563,637 | ||||||||||||||||
|
Total
Liabilities and Stockholders' Equity
|
$ | 27,262,247 | $ | 9,158,311 | $ | 55,197,251 | ||||||||||||||
PF-1
GLOBAL
BEVERAGES, INC. AND SUBSIDIARIES
UNAUDITED
PRO FORMA CONDENSED COMBINED INCOME STATEMENT
FOR THE
FISCAL YEAR JULY 1, 2008 THROUGH JUNE 30, 2009
|
Global
Beverages,
Inc.
|
Asia
Distribution
Solutions
|
Pro
Forma
Adjustments
|
Pro
Forma
|
|||||||||||||
|
Sales
revenue
|
$ | 2,162,966 | $ | 5,256,669 | $ | 7,419,635 | ||||||||||
| 2,162,966 | 5,256,669 | 7,419,635 | ||||||||||||||
|
Cost
of goods sold
|
1,983,571 | 4,723,226 | 6,706,797 | |||||||||||||
| 1,983,571 | 4,723,226 | 6,706,797 | ||||||||||||||
|
Gross
Profit
|
179,395 | 533,443 | 712,838 | |||||||||||||
|
General,
selling and administrative expenses
|
1,412,188 | 932,380 | - | 2,344,568 | ||||||||||||
|
Operating
income ( loss )
|
(1,232,793 | ) | (398,937 | ) | - | (1,631,730 | ) | |||||||||
|
Nonoperating
(income) expense
|
||||||||||||||||
|
Interest
income
|
(3,852 | ) | 59,918 | 56,066 | ||||||||||||
|
Other
(income) expenses, net
|
7,060 | 711,220 | 718,280 | |||||||||||||
|
Merger
and acquisition costs
|
1,007,836 | - | 1,007,836 | |||||||||||||
|
Gain
on sale of fixed assets
|
(1,843 | ) | - | (1,843 | ) | |||||||||||
|
Interest
expense
|
575,758 | - | 575,758 | |||||||||||||
|
Total
nonoperating (income) expenses
|
1,584,959 | 771,138 | 2,356,097 | |||||||||||||
|
Income
( loss ) before provision for income tax
|
(2,817,752 | ) | (1,170,075 | ) | (3,987,827 | ) | ||||||||||
|
Provision
for income taxes
|
- | 157,315 | 157,315 | |||||||||||||
|
Net
income ( loss )
|
$ | (2,817,752 | ) | $ | (1,327,390 | ) | - | $ | (4,145,142 | ) | ||||||
PF-2
Eliminations
|
1
|
Investment
in sub.
|
26,637,465 | ||||||||
|
Common
Stock
|
49,107 | |||||||||
|
Additional
paid in capital
|
26,588,358 | |||||||||
|
Investment
in ADSL
|
||||||||||
|
2
|
Registered
share capital
|
637,780 | ||||||||
|
Additional
paid in capital
|
6,587,468 | |||||||||
|
Share
option reserve
|
227,224 | |||||||||
|
Retained
earnings
|
313,120 | |||||||||
|
Other
comprehensice income
|
95,180 | |||||||||
|
Intangible
assets
|
18,776,693 | |||||||||
|
To
Investment in subsidiary
|
26,637,465 | |||||||||
|
Consolidating
entry for ADSL
|
||||||||||
PF-3