Attached files
Indo Global Exchange(s) Pte. Ltd., formerly known as Claridge Ventures, Inc.
Pro forma financial information
As at April 30, 2013 and for the nine and three month periods ended April 30, 2013
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Indo Global Exchange(s) Pte. Ltd. (formerly known as Claridge Ventures, Inc.)
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Unaudited Pro Forma Balance Sheet
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As at April 30, 2013
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Indo Global
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Reverse Split
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Acquisition Adjustments
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Pro-Forma
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ASSETS
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Current assets
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Cash
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- | - | ||||||||||||||
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Total current assets
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- | - | ||||||||||||||
| License agreement | 43,496 |
(b)
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43,496 | |||||||||||||
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TOTAL ASSETS
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- | 43,496 | 43,496 | |||||||||||||
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LIABILITIES AND STOCKHOLDERS' EQUITY DEFICIT
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Current liabilities
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Accounts payable and accrued liabilities
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19,592 | 19,592 | ||||||||||||||
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Total current liabilities
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19,592 | 19,592 | ||||||||||||||
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Stockholders' Equity (Deficit)
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Common stock, $0.001 par value, authorized
400,000,000 shares, 289,975,000shares issued
and outstanding pre-acquisition, authorized
100,000,000 shares, 115,989,750 shares issued
And outstanding post-acquisition
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289,975 | (217,481 | )(a) | 43,496 |
(b)
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115,990 | ||||||||||
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Additional paid-in capital
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(219,275 | ) | 217,481 | (a) | (1,794 | ) | ||||||||||
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Deficit accumulated during the Exploration
Stage
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(90,292 | ) | (90,292 | ) | ||||||||||||
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Total stockholders' equity (deficit)
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(19,592 | ) | 43,496 | 23,904 | ||||||||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
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- | 43,496 | 43,496 | |||||||||||||
PRO FORMA ADJUSTMENT
(a) Adjustment to give effect to 4:1 reverse split of Indo Global Exchange(s) Pte. Ltd.’s (formerly known as Claridge Ventures, Inc.) common shares on August 6, 2013 and the 35:1 forward split on October 5, 2012.
(b) Adjustment to give effect to the Amended and Restated Asset Purchase Agreement, dated September 23, 2013 (the “Purchase Agreement”), pursuant to which Indo Global Exchange(s) Pte. Ltd. issued 43,496,250 shares of common stock, at a consideration price of $43,496.
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Indo Global Exchange(s) Pte. Ltd. (formerly known as Claridge Ventures, Inc.)
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Unaudited Pro Forma Statement of Operations
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For the nine month period ended April 30, 2013
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Indo Global
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Adjustments
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Pro Forma
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Revenue
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$ | 0 | $ | 0 | $ | 0 | ||||||
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Expenses
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General and administrative
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11,970 | - | 11,970 | |||||||||
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Total expenses
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11,970 | - | 11,970 | |||||||||
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Net loss for period
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$ | (11,970 | ) | $ | - | $ | (11,970 | ) | ||||
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Indo Global Exchange(s) Pte. Ltd. formerly known as Claridge Ventures, Inc.
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Unaudited Pro Forma Statement of Operations
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For the three month period ended April 30, 2013
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Indo Global
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Adjustments
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Pro Forma
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Revenue
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$ | 0 | $ | 0 | $ | 0 | ||||||
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Expenses
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Prospecting expenses
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- | |||||||||||
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General and administrative
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2,000 | - | 2,000 | |||||||||
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Total expenses
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2,000 | - | 2,000 | |||||||||
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Net loss for period
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$ | (2,000 | ) | $ | - | $ | (2,000 | ) | ||||
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Indo Global Exchange(s) PTE Ltd. formerly known as Claridge Ventures, Inc.
Adjustments Pro Forma
Notes to Unaudited Pro Forma Balance Sheet
NOTE 1 – BASIS OF PRESENTATION
The unaudited pro forma consolidated balance sheet as of April 30, 2013 (Indo Global Exchange(s) PTE Ltd. (formerly known as Claridge Ventures, Inc.) was based on the unaudited balance sheet of Indo Global Exchange(s) PTE Ltd. formerly known as Claridge Ventures, Inc., as of April 30, 2012 combined with pro forma adjustments to give effect to the Amended and Restated Asset Purchase Agreement, dated September 23, 2013 (the “Purchase Agreement”) as if it occurred on the respective dates. These unaudited pro forma financial statements are provided for illustrative purposes and do not purport to represent what the Company’s financial position would have been if such transaction had occurred on the above mentioned date. These statements were prepared based on accounting principles generally accepted in the United States. The use of estimates is required and actual results could differ from the estimates used. The Company believes the assumptions used provide a reasonable basis for presenting the significant effects directly attributable to the acquisition.
NOTE 2 – ACQUISITION OF ASSETS
On September 23, 2013, Indo Global Exchange(s) Pte. Ltd. (formerly known as Claridge Ventures, Inc.) (the “Company”) signed the Purchase Agreement to acquire certain assets and other intellectual property (the “Assets”) from Indo Global Exchange PTE LTD. (“Indo Global”) to form an online trading portal.
Under the terms of the Purchase Agreement, the Company completed its purchase of the Assets. The Company issued 43,496,250 shares of common stock to the owners of Indo Global for a consideration price of $43,496 US.
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