DAKOTA PLAINS HOLDINGS, INC. - FORM 8-K - EX-99.4 - PRO FORMA FINANCIAL STATEMENTS - March 23, 2012

Attached files

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8-K - FORM 8-K - DAKOTA PLAINS HOLDINGS, INC.dakota121172_8k.htm
EX-10.1 - 2011 EQUITY INCENTIVE PLAN - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-1.htm
EX-10.2 - FORM OF INCENTIVE STOCK OPTION - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-2.htm
EX-10.3 - FORM OF NON-STATUTORY STOCK OPTION - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-3.htm
EX-10.4 - FORM OF RESTRICTED STOCK AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-4.htm
EX-10.5 - FORM OF WARRANT WITH EXECUTIVE OFFICERS - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-5.htm
EX-10.6 - FORM OF WARRANT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-6.htm
EX-2.2 - PLAN OF MERGER - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex2-2.htm
EX-2.3 - STOCK PURCHASE AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex2-3.htm
EX-2.1 - AGREEMENT AND PLAN OF MERGER - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex2-1.htm
EX-3.2 - AMENDMENT AND RESTATED BYLAWS - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex3-2.htm
EX-3.1 - AMENDED AND RESTATED ARTICLES OF INCORPORATION - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex3-1.htm
EX-4.1 - FORM OF PROMISSORY NOTE - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex4-1.htm
EX-10.11 - FORM OF EXCHANGE AND LOAN AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-11.htm
EX-10.10 - FORM OF EXCHANGE AND LOAN AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-10.htm
EX-10.12 - MEMBER CONTROL AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-12.htm
EX-10.13 - MEMBER CONTROL AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-13.htm
EX-10.14 - AMENDMENT TO MEMBER CONTROL AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-14.htm
EX-10.16 - SUPPLEMENTAL AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-16.htm
EX-10.17 - AMENDMENT TO MEMBER CONTROL AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-17.htm
EX-10.15 - LEASE AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-15.htm
EX-10.18 - AMENDMENT TO LEASE AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-18.htm
EX-10.19 - INDEMNIFICATION AGREEMENT - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-19.htm
EX-10.7 - EMPLOYMENT AGREEMENT WITH GABRIEL G. CLAYPOOL - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-7.htm
EX-10.9 - EMPLOYMENT AGREEMENT WITH NICHOLAS Q. DILLON - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-9.htm
EX-10.8 - EMPLOYMENT AGREEMENT WITH TIMOTHY R. BRADY - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex10-8.htm
EX-21.1 - LIST OF SUBSIDIARIES - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex21-1.htm
EX-99.3 - DPTS MARKETING LLC FINANCIAL STATEMENTS - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex99-3.htm
EX-99.1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex99-1.htm
EX-99.2 - DAKOTA PETROLEUM TRANSPORT SOLUTIONS, LLC FINANCIAL STATEMENTS - DAKOTA PLAINS HOLDINGS, INC.dakota121172_ex99-2.htm

Exhibit 99.4

 

DAKOTA PLAINS HOLDINGS, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED COMBINED

BALANCE SHEET

AS OF DECEMBER 31, 2011

 

ASSETS

 

    Dakota Plains
Holdings, Inc.
and Subsidiaries
(formerly MCT
Holding Corporation)		     Dakota Plains, Inc.
and Subsidiaries		     Pro Forma
Adjustments		     Notes     Pro Forma
Combined		  
CURRENT ASSETS                                        
Cash and Cash Equivalents   $ 3,210     $ 1,753,665     $ (3,210 )           $ 1,753,665  
Inventory     1,150               (1,150 )     (a)       —  
Prepaid Expenses     —       16,756                       16,756  
Deferred Tax Asset     —       2,307,000                       2,307,000  
Total Current Assets     4,360       4,077,421       (4,360 )             4,077,421  
                                         
                                         
PROPERTY AND EQUIPMENT                                        
Land     —       1,053,576                       1,053,576  
Site Development     —       2,329,660                       2,329,660  
Other Property and Equipment     —       42,075                       42,075  
Total Property and Equipment     —       3,425,311                       3,425,311  
Less - Accumulated Depreciation             259,520                       259,520  
Total Property and Equipment, Net     —       3,165,791                       3,165,791  
                                         
PREFERRED DIVIDEND RECEIVABLE     —       317,808                       317,808  
                                         
INVESTMENT IN DPTS MARKETING, LLC     —       11,996,571                       11,996,571  
                                         
INVESTMENT IN DAKOTA PETROLEUM TRANSPORT SOLUTIONS, LLC     —       2,890,280                       2,890,280  
                                         
                                         
Total Assets   $ 4,360     $ 22,447,871     $ (4,360 )           $ 22,447,871  
                                         
LIABILITIES AND STOCKHOLDERS’ EQUITY
                                         
CURRENT LIABILITIES                                        
Accounts Payable   $ 3,276     $ 32,616     $ (3,276 )           $ 32,616  
Income Taxes Payable     —       —                       —  
Accrued Expenses     —       80,661                       80,661  
Derivative Liability     —       5,540,000                       5,540,000  
Deferred Rental Income     —       125,164                       125,164  
Total Current Liabilities     3,276       5,778,441       (3,276 )             5,778,441  
                                         
LONG-TERM LIABILITIES                                        
Promissory Notes     —       9,000,000                       9,000,000  
Deferred Rental Income     —       125,163                       125,163  
Deferred Tax Liability     —       460,000                       460,000  
Total Long-Term Liabilities     —       9,585,163                       9,585,163  
                                         
Total Liabilities     3,276       15,363,604       (3,276 )             15,363,604  
                                         
STOCKHOLDERS’ EQUITY                                        
Preferred Stock     —       —                       —  
Common Stock     641       37,014                       37,655  
Additional Paid-In Capital     616,204       10,158,044       (616,845 )     (b)       10,157,403  
Retained Earnings (Accumulated Deficit)     (615,761 )     (3,110,791 )     615,761       (c)       (3,110,791 )
Total Stockholders’ Equity     1,084       7,084,267       (1,084 )             7,084,267  
                                         
Total Liabilities and Stockholders' Equity   $ 4,360     $ 22,447,871     $ (4,360 )           $ 22,447,871  

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

  (a) To reflect elimination of assets held by the Company that were not transferred to the surviving entity as part of the merger agreement
     
  (b) To reflect the elimination of the additional paid-in capital held by the Company that was not transferred to the surviving entity as part of the merger agreement
     
  (c) To reflect the elimination of the deficit held by the Company that was not transferred to the surviving entity as a part of the merger agreement

 

(1)

 

DAKOTA PLAINS HOLDINGS, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED COMBINED

STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2011

 

    Dakota Plains
Holdings, Inc.
and Subsidiaries
(formerly MCT
Holding Corporation)		     Dakota Plains, Inc.
and Subsidiaries		     Pro Forma
Adjustments		     Notes     Pro Forma
Combined		  
                               
REVENUES   $ 7,352     $ 314,581                     $ 321,933  
                                         
COST OF GOODS SOLD     900       —                       900  
                                         
GROSS PROFIT     6,452       314,581                       321,033  
                                         
OPERATING EXPENSES                                        
General and Administrative Expense     51,837       3,897,066                       3,948,903  
Depreciation and Amortization     —       159,275                       159,275  
Total Operating Expenses     51,837       4,056,341                       4,108,178  
                                         
LOSS FROM OPERATIONS     (45,385 )     (3,741,760 )                     (3,787,145 )
                                         
OTHER INCOME (EXPENSE)                                        
Income from Investment in Dakota Petroleum Transport Solutions, LLC     —       4,236,779                       4,236,779  
Income from Investment in DPTS Marketing, LLC     —       2,314,279                       2,314,279  
Foregiveness of Debt Income     6,430                               6,430  
Interest Expense, net of Interest Income     (1,028 )     (3,371,812 )                     (3,372,840 )
Loss on Extinguishment of Debt     —       (4,552,500 )                     (4,552,500 )
Other Expense     —       (2,777 )                     (2,777 )
Total Other Income (Expense)     5,402       (1,376,031 )                     (1,370,629 )
                                         
LOSS BEFORE INCOME TAXES     (39,983 )     (5,117,791 )                     (5,157,774 )
                                         
INCOME TAX BENEFIT     —       (2,007,000 )                     (2,007,000 )
                                         
INCOME FROM CONTINUING OPERATIONS   $ (39,983 )   $ (3,110,791 )                   $ (3,150,774 )
                                         
DISCONTINUED OPERATIONS                                        
Loss from operations of discontinued Tanning Salon business
(net of $0 in income tax expense)		     (49,857 )     —                       (49,857 )
Loss on disposal of discontinued operations
(net of $0 in income tax expense)		     (7,974 )     —                       (7,974 )
Loss From Discontinued Operations     (57,831 )     —                       (57,831 )
                                         
NET LOSS   $ (97,814 )   $ (3,110,791 )                   $ (3,208,605 )
                                         
LOSS PER OUSTANDING SHARE - BASIC & DILUTED                                        
Continuing Operations   $ (0.06 )                           $ (0.09 )
Operations of discontinued Tanning Salon business   $ (0.08 )                           $ (0.00 )
Loss on disposal of discontinued operations   $ (0.01 )                           $ (0.00 )
Net Loss Per Common Share – Basic and Diluted   $ (0.15 )                           $ (0.09 )
                                         
Weighted Average Shares Outstanding - Basic and Diluted     640,200               35,214,940       (a)       35,855,140  

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

  (a) To reflect the issuance of the Company's shares in conjunction with the acquisition (excluding shares subject to vesting).

 

(2)

DAKOTA PLAINS HOLDINGS, INC. Reports

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