Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8-K/A - VIZCONNECT, INC. | vbco_8ka.htm |
| EX-99.1 - AUDITED FINANCIAL STATEMENTS - VIZCONNECT, INC. | vbco_ex991.htm |
EXHIBIT 99.2
Vizconnect, Inc.
Proforma Balance Sheets
|
As of
December 31, 2012 |
As of
December 31, 2012 |
Combined
|
Proforma
Adjustments |
Proforma
Consolidated |
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ASSETS
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Current Assets:
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Cash and cash equivalents
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$ | 302 | $ | 19,842 | $ | 20,144 | (1 | ) | (302 | ) | $ | 19,842 | |||||||||
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Prepaid expenses
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- | 760 | 760 | - | 760 | ||||||||||||||||
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Total assets
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$ | 302 | $ | 20,602 | $ | 20,904 | (302 | ) | $ | 20,602 | |||||||||||
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LIABILITIES AND STOCKHOLDERS' DEFICIT
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Current Liabilities:
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Accounts payable
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$ | 4,030 | $ | 93,401 | $ | 97,431 | (1 | ) | (4,030 | ) | $ | 93,401 | |||||||||
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Accrued Expenses
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21,943 | 21,943 | 21,943 | ||||||||||||||||||
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Deferred Revenue
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36,667 | 36,667 | 36,667 | ||||||||||||||||||
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Advance from shareholder
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6,425 | - | 6,425 | (1 | ) | (6,425 | ) | - | |||||||||||||
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Loans payable
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- | 310,000 | 310,000 | - | 310,000 | ||||||||||||||||
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Note payable - related party
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- | 22,500 | 22,500 | - | 22,500 | ||||||||||||||||
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Note payable
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- | 15,000 | 15,000 | - | 15,000 | ||||||||||||||||
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Total current liabilities
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10,455 | 499,511 | 509,966 | (10,455 | ) | 499,511 | |||||||||||||||
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Stockholders' (Deficit) Equity:
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Preferred stock: $0.001 par value, 5,000,000 shares authorized, none
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- | - | - | - | - | ||||||||||||||||
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share issued and outstanding as of December 31, 2012
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Common stock: $0.001 par value, 70,000,000 shares authorized,
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40,680,000 shares issued and outstanding at December 31, 2012
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15,680 | 25,000 | 40,680 | - | 40,680 | ||||||||||||||||
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Additional paid-in capital
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33,520 | (5,000 | ) | 28,520 | (1 | ) | (49,200 | ) | (20,680 | ) | |||||||||||
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Accumulated deficit
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(59,353 | ) | (498,909 | ) | (558,262 | (1 | ) | 59,353 | (498,909 | ) | |||||||||||
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Total stockholders’ deficit
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(10,153 | ) | (478,909 | ) | (489,062 | 10,153 | (478,909 | ) | |||||||||||||
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Total liabilities and stockholders’ deficit
|
$ | 302 | $ | 20,602 | $ | 20,904 | (302 | ) | $ | 20,602 | |||||||||||
See Notes to Financial Statements.
1
Vizconnect, Inc.
Proforma Statement of Operations
|
For the twelve
months eneded |
For the twelve
months eneded |
Combined
|
Proforma
Adjustments |
Proforma
Consolidated |
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REVENUE
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Subscription Revenue
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$ | - | $ | 23,531 | $ | 23,531 | $ | - | $ | 23,531 | ||||||||||
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Total Revnue
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- | 23,531 | 23,531 | - | 23,531 | |||||||||||||||
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OPERATING EXPENSES
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Programming, Hosting & Technology Expense
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- | 108,834 | 108,834 | 108,834 | ||||||||||||||||
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Professional Fees
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- | 109,693 | 109,693 | 109,693 | ||||||||||||||||
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General and Administrative
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9,523 | 46,727 | 56,250 | (1) | (9,523 | ) | 46,727 | |||||||||||||
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Selling Expense
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- | 17,430 | 17,430 | - | 17,430 | |||||||||||||||
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Total Operating Expenses
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9,523 | 282,684 | 292,207 | (9,523 | ) | 282,684 | ||||||||||||||
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Loss From Operations
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(9,523 | ) | (259,153 | ) | (268,676 | ) | 9,523 | (259,153 | ) | |||||||||||
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Interest expense
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- | 14,306 | 14,306 | 14,306 | ||||||||||||||||
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NET LOSS
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$ | (9,523 | ) | $ | (273,459 | ) | $ | (282,982 | ) | $ | 9,523 | $ | (273,459 | ) | ||||||
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Basic and diluted loss pet common share
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$ | (0.01 | ) | |||||||||||||||||
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Weighted average shares outstanding
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40,680,000 | |||||||||||||||||||
Note:
(1) Effect on elimination of VizConnect, Inc. upon consolidation
See Notes to Financial Statements.
2