Attached files
PROFORMA CONSOLIDATED FINANCIAL STATEMENT |
December 31 2010 |
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Statement of financial condition for the period ended December 31, 2010, including Balance Sheets, Statements of Operations, and Statements of Cash Flows |
For Internal Use Only |
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{00188103. }
Table of Contents
Balance Sheet.................................................................................................................... 1
Statement of Operations................................................................................................. 2
Statement of Cash Flows................................................................................................ 3
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ABC ACQUISITION CORP 1502 |
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CONSOLIDATED BALANCE SHEET (Proforma) |
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- December 31 - |
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2010 |
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ASSETS |
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Current Assets |
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Cash In Bank |
$ 3,600 |
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Total Current Assets |
$ 3,600 |
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Other Assets |
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Intangible Assets, net of amortization (Note 3) |
$ 1,474,998 |
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Total Other Assets |
$ 1,474,998 |
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TOTAL ASSETS |
$ 1,478,598 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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LIABILITIES |
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Accounts Payable (Note 4 & Note 5) |
$ 1,521,814 |
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Accrued Payroll & Taxes |
29,223 |
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Loans Payable |
1,450 |
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Provision for Income Taxes (Note 9) |
- |
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Total Liabilities |
$ 1,552,487 |
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COMMITMENTS & CONTINGENCIES (Note 6) |
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STOCKHOLDERS' EQUITY |
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Preferred Stock, $0.001 par, 100M shares authorized |
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none issued and outstanding (Note 8) |
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Common stock, $0.001 par, 400M shares authorized, |
$ 5,684 |
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________ shares issued and outstanding (Note 8) |
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Additional paid in capital (Note 8) |
141,991 |
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Subscriptions receivable |
(125) |
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Net Income (loss) |
(88,997) |
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Retained Earnings (Deficit) |
(132,462) |
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Total Stockholders' Equity |
$ (73,909) |
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TOTAL LIABILITIES AND |
$ 1,478,578 |
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{00188103. }
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ABC ACQUISITION CORP 1502 |
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CONSOLIDATED STATEMENT OF OPERATIONS (Proforma) |
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April 12, 2010 |
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(inception) to |
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December 31, 2010 |
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Revenue |
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Gross profit (loss) |
$ - |
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General and administrative expenses |
(63,975) |
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Net (loss) before depreciation, amortization, |
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interest expense and income taxes |
$ (63,975) |
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Depreciation and Amortization (Note 3) |
(25,002) |
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Income taxes (Note 9) |
- |
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Net Income (loss) |
$ (88,977) |
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Weighted average common shares |
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outstanding - basic and diluted |
21,440,553 |
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Net (loss) per common share - |
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basic and diluted |
$ (0.0041) |
{00188103. }
SHAPE \* MERGEFORMAT
1
ABC ACQUISITION CORP 1502 |
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CONSOLIDATED STATEMENT OF CASH FLOWS (Proforma) |
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April 12, 2010 |
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(inception) to |
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December 31, 2010 |
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Cash flow from operating activities: |
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Net income (loss) |
$ (88,977) |
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Increase (decrease) in Accounts payable |
1,389,402 |
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Increase (decrease) in Accrued payroll & taxes |
29,223 |
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Increase (decrease) in Loans payable |
1,450 |
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Net cash (used in) operating activities |
1,331,098 |
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Cash flows from investing activities: |
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(Increase) decrease in intangible assets |
$ (1,500,000) |
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Increase (decrease) in accumulated amortization |
25,002 |
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Net cash provided by investing activities |
$ (1,474,998) |
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Cash flows from financing activities: |
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Issuance of capital stock for cash (Note 3) |
$ 5,682 |
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(Increase) decrease in Subscriptions Receivable |
(125) |
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Increase in Additional Paid In Capital (Note 8) |
141,943 |
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Net cash provided by financing activities |
147,500 |
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Increase (decrease) in cash |
$ 3,600 |
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Cash - beginning of period |
- |
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Cash - end of period |
$ 3,600 |
{00188103. }
SHAPE \* MERGEFORMAT
2