Attached files
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8-K/A - 8-K/A - Adaptive Medias, Inc. | v334387_8ka.htm |
EX-99.1 - EXHIBIT 99.1 - Adaptive Medias, Inc. | v334387_ex99-1.htm |
EX-99.2 - EXHIBIT 99.2 - Adaptive Medias, Inc. | v334387_ex99-2.htm |
Exhibit 99.3
Unaudited Consolidated Pro Forma Balance Sheet as of September 30, 2012
Lone Wolf, Inc. | Mimvi , Inc. | Consolidated | ||||||||||||||
September 30, 2012 | September 30, 2012 | Eliminations | September 30, 2012 | |||||||||||||
Unaudited | Unaudited | Unaudited | ||||||||||||||
ASSETS | ||||||||||||||||
Current Assets | ||||||||||||||||
Cash | $ | - | $ | 300,136 | $ | 300,136 | ||||||||||
Accounts Receivable | 5,000 | - | 5,000 | |||||||||||||
Prepaid expenses | - | 260,750 | 260,750 | |||||||||||||
Total current assets | 5,000 | 560,886 | 565,886 | |||||||||||||
Other Assets | ||||||||||||||||
Investments | 8,360 | - | 8,360 | |||||||||||||
Total Other Assets | 8,360 | - | 8,360 | |||||||||||||
TOTAL ASSETS | $ | 13,360 | $ | 560,886 | $ | 574,246 | ||||||||||
LIABILITIES & EQUITY | ||||||||||||||||
Liabilities | ||||||||||||||||
Current Liabilities | ||||||||||||||||
Accounts Payable and accrued expenses | $ | 38,726 | $ | 1,086,604 | $ | 1,125,330 | ||||||||||
Due to Mimvi, Inc. | 79,000 | - | 1. 79,000 | - | ||||||||||||
Book Overdraft | 332 | 332 | ||||||||||||||
Due to related party | 1,216 | - | 1,216 | |||||||||||||
Convertible Notes Payable | 33,500 | 100,000 | 133,500 | |||||||||||||
Total current liabilities | 152,774 | 1,186,604 | 1,260,378 | |||||||||||||
Equity | ||||||||||||||||
Preferred stock | 100,000 | 2. 100,000 | - | |||||||||||||
Common stock | 900,000 | 2. 900,000 | - | |||||||||||||
Additional paid-in-capital | - | 8,880,835 | 2. (1,000,000) | 9,880,835 | ||||||||||||
Common stock | - | 56,935 | - | 56,935 | ||||||||||||
Loan receivable | - | (79,000 | ) | 1. (79,000) | - | |||||||||||
Deficit accumulated during development stage | (1,142,549 | ) | (9,484,488 | ) | (10,627,037 | ) | ||||||||||
Other comprehensive income | 3,135 | - | 3,135 | |||||||||||||
Liabilities and stockholders' deficit | (139,414 | ) | (625,718 | ) | (686,132 | ) | ||||||||||
TOTAL LIABILITIES & EQUITY | $ | 13,360 | $ | 560,886 | $ | - | $ | 574,246 |
Notes:
1. | Eliminate the loan balance as of September 30, 2012 |
2. | Adjust the consolidated equity as of September 30, 2012 |
Exhibit 99.3, (continued)
Unaudited Consolidated Pro Forma Balance Sheet as of December 31, 2011
Lone Wolf, Inc. | Mimvi , Inc. | Consolidated | ||||||||||||||
December 31, 2011 | December 31, 2011 | Eliminations | December 31, 2011 | |||||||||||||
Unaudited | Unaudited | Unaudited | ||||||||||||||
ASSETS | ||||||||||||||||
Current Assets | ||||||||||||||||
Cash | $ | - | $ | - | $ | - | ||||||||||
Accounts Receivable | 2,280 | - | 2,280 | |||||||||||||
Prepaid expenses | - | 329,467 | 329,467 | |||||||||||||
Total current assets | 2,280 | 329,467 | 331,747 | |||||||||||||
Equipment, net | 1,800 | - | 1,800 | |||||||||||||
Other Assets | ||||||||||||||||
Investments | 5,225 | - | 5,225 | |||||||||||||
Due from shareholder | 4,973 | - | 4,973 | |||||||||||||
Total Other Assets | 10,198 | - | 10,198 | |||||||||||||
TOTAL ASSETS | $ | 12,478 | $ | 329,467 | $ | 341,945 | ||||||||||
LIABILITIES & EQUITY | ||||||||||||||||
Liabilities | ||||||||||||||||
Current Liabilities | ||||||||||||||||
Accounts Payable and accrued expenses | $ | 11,029 | $ | 910,248 | $ | 921,277 | ||||||||||
Book Overdraft | 512 | 382 | 894 | |||||||||||||
Notes payable, net of unamortized discount of $2,500 | - | 75,000 | 75,000 | |||||||||||||
Notes Payable, related party | - | 25,000 | 25,000 | |||||||||||||
Total current liabilities | 11,541 | 1,010,630 | 1,022,171 | |||||||||||||
Equity | ||||||||||||||||
Preferred stock | 100,000 | - | 1. (100,000) | - | ||||||||||||
Common stock | - | 42,555 | 42,555 | |||||||||||||
Additional Paid-in-capital | - | 6,697,834 | 1. 100,000 | 6,797,834 | ||||||||||||
Common stock escrowed as collateral for note payable | (62,500 | ) | (62,500 | ) | ||||||||||||
Deficit accumulated during development stage | (99,063 | ) | (7,359,052 | ) | (7,458,115 | ) | ||||||||||
Liabilities and stockholders' deficit | 937 | (681,163 | ) | (680,226 | ) | |||||||||||
TOTAL LIABILITIES & EQUITY | $ | 12,478 | $ | 329,467 | $ | - | $ | 341,945 |
Notes:
1. | Adjust the consolidated equity as of December 31, 2011 |
Exhibit 99.3, (continued)
Unaudited Consolidated Pro Forma Statements of Operations for the nine months ended September 30, 2012
For the Nine Months Ended September 30, 2012 | ||||||||||||||||
Lone Wolf, Inc. | Mimvi , Inc. | Consolidated | ||||||||||||||
Unaudited | Unaudited | Eliminations | Unaudited | |||||||||||||
Revenue | $ | 35,685 | $ | - | $ | - | $ | 35,685.00 | ||||||||
Operating expenses | ||||||||||||||||
Executive compensation | - | 177,440 | - | 177,440 | ||||||||||||
Legal & professional fees | 131,665 | 549,967 | - | 681,632 | ||||||||||||
Stock compensation expense | - | 948,581 | - | 948,581 | ||||||||||||
General and administrative expenses | 55,173 | 162,850 | - | 218,023 | ||||||||||||
Total operating expenses | 186,838 | 1,838,838 | - | 2,025,676 | ||||||||||||
Loss from operations | (151,153 | ) | (1,838,838 | ) | (1,989,991 | ) | ||||||||||
Other expenses | ||||||||||||||||
Loss on extinguishment of debt | - | 224,969 | - | 224,969 | ||||||||||||
Interest expense | - | 61,629 | - | 61,629 | ||||||||||||
Total other expenses | - | 286,598 | - | 286,598 | ||||||||||||
Net loss | $ | (151,153 | ) | $ | (2,125,436 | ) | $ | - | $ | (2,276,589 | ) |
Exhibit 99.3, (continued)
Unaudited Consolidated Pro Forma Statements of Operations for the year ended December 31, 2011
For the Year Ended December 31, 2011 | ||||||||||||||||
Lone Wolf, Inc. | Mimvi , Inc. | Consolidated | ||||||||||||||
Unaudited | Unaudited | Eliminations | Unaudited | |||||||||||||
Revenue | $ | 35,685 | $ | 70,575 | $ | - | $ | 106,260 | ||||||||
Operating expenses | ||||||||||||||||
Executive compensation | - | 35,000 | - | 35,000 | ||||||||||||
Legal & professional fees | 219,285 | 631,129 | - | 850,414 | ||||||||||||
Stock compensation expense | - | 3,125,904 | - | 3,125,904 | ||||||||||||
Loss on disposal of equipment | - | 8,341 | - | 8,341 | ||||||||||||
General and administrative expenses | 66,012 | 366,150 | - | 432,162 | ||||||||||||
Total operating expenses | 285,297 | 4,166,524 | - | 4,451,821 | ||||||||||||
Loss from operations | (249,612 | ) | (4,095,949 | ) | - | (4,345,561 | ) | |||||||||
Other expenses | ||||||||||||||||
Interest expense | - | 30,509 | - | 30,509 | ||||||||||||
Total other expenses | - | 30,509 | - | 30,509 | ||||||||||||
- | ||||||||||||||||
Net loss | $ | (249,612 | ) | $ | (4,126,458 | ) | $ | - | $ | (4,376,070 | ) |