Attached files
| file | filename |
|---|---|
| 8-K/A - AMENDED CURRENT REPORT - ECOSPHERE TECHNOLOGIES INC | esph_8k.htm |
| EX-99.2 - EXHIBIT 99.2 - ECOSPHERE TECHNOLOGIES INC | esph_ex99z2.htm |
| EX-99.3 - EXHIBIT 99.3 - ECOSPHERE TECHNOLOGIES INC | esph_ex99z3.htm |
Exhibit 99.1
Ecosphere Technologies, Inc.
Unaudited Condensed Pro Forma Balance Sheet
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| March 31, |
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| March 31, |
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| 2013 |
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| (Unaudited) |
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| 2013 |
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| (Unaudited) |
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| Pro Forma |
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| (Unaudited) |
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| As Reported |
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| Adjustments |
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| Pro Forma |
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Assets |
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Current assets |
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Cash and cash equivalents |
| $ | 433,694 |
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| 4,496,201 |
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| 1,2 |
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| $ | 4,929,895 |
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Other current assets |
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| 4,664,459 |
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| (705,358 | ) |
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| 1 |
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| 3,959,101 |
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Total current assets |
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| 5,098,153 |
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| 8,888,996 |
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Investment in EES |
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| — |
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| 19,546,600 |
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| 3 |
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| 19,546,600 |
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Property, plant and equipment, net |
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| 4,262,338 |
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| (3,256,336 | ) |
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| 1 |
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| 1,006,002 |
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Other assets |
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| 163,933 |
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| (4,200 | ) |
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| 1 |
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| 159,733 |
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Total Assets |
| $ | 9,524,424 |
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| $ | 29,601,331 |
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Liabilities, Redeemable Convertible Cumulative Preferred Stock |
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Current liabilities |
| $ | 5,670,647 |
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| (166,009 | ) |
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| 1 |
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| $ | 5,504,638 |
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Long Term Liabilities |
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| 648,640 |
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| (7,743 | ) |
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| 1 |
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| 640,897 |
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Total liabilities |
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| 6,319,287 |
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| 6,145,535 |
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Redeemable convertible cumulative preferred stock |
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| 3,658,461 |
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| 3,658,461 |
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Stockholders' Equity (Deficit) |
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| (453,324 | ) |
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| 20,250,659 |
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| 4,5 |
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| 19,797,335 |
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Total Liabilities, Redeemable Convertible Cumulative Preferred Stock and Stockholders' Equity (Deficit) |
| $ | 9,524,424 |
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| $ | 29,601,331 |
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———————
1 Represents reduction of assets and liabilities for carrying amounts on FNES on March 31, 2013.
2 Represents cash proceeds of $6 million from sale of 12% interest in FNES, less cash payment from proceeds to FNES to settle amounts due, less $150,000 broker fee paid to Ladenburg Thalmann & Co.
3 Represents the fair value of ETI’s 39.1% retained interest in EES.
4 Gain on deconsolidation.
5 Removal on non-controlling interest as of March 31, 2013.