GREENKRAFT, INC. - FORM 8-K - EX-99.3 - UNAUDITED PROFORMA CONSOLIDATED FINANCIAL STATEMENTS - December 10, 2013

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8-K - CURRENT REPORT - GREENKRAFT, INC.f8k120413_sunriseglobal.htm
EX-2.1 - SECURITIES PURCHASE AGREEMENT - GREENKRAFT, INC.f8k120413ex2i_sunrise.htm
EX-3.1 - ARTICLES OF INCORPORATION OF GREENKRAFT, INC., A CALIFORNIA CORPORATION - GREENKRAFT, INC.f8k112613ex3i_sunrise.htm
EX-10.5 - COMMERCIAL LEASE AGREEMENT DATED APRIL 1, 2013 - GREENKRAFT, INC.f8k112613ex10v_sunrise.htm
EX-3.2 - ARTICLES OF INCORPORATION OF GREENKRAFT, INC., A NEVADA CORPORATION - GREENKRAFT, INC.f8k112613ex3ii_sunrise.htm
EX-3.4 - BYLAWS OF GREENKRAFT, INC., A NEVADA CORPORATION - GREENKRAFT, INC.f8k112613ex3iv_sunrise.htm
EX-99.1 - GREENKRAFT AUDITED FINANCIAL STATEMENTS - GREENKRAFT, INC.f8k120413ex99i_sunrise.htm
EX-10.1 - INVESTMENT AGREEMENT - GREENKRAFT, INC.f8k112613ex10i_sunrise.htm
EX-23.1 - CONSENT OF MALONEBAILEY, LLP - GREENKRAFT, INC.f8k120413ex23i_sunrise.htm
EX-3.3 - BYLAWS OF GREENKRAFT, INC., A CALIFORNIA CORPORATION - GREENKRAFT, INC.f8k112613ex3iii_sunrise.htm
EX-10.2 - REGISTRATION RIGHTS AGREEMENT - GREENKRAFT, INC.f8k112613ex10ii_sunrise.htm
EX-10.4 - COMMERCIAL SECURITY AGREEMENT DATED MARCH 31, 2012 - GREENKRAFT, INC.f8k112613ex10iv_sunrise.htm
EX-99.2 - GREENKRAFT UNAUDITED FINANCIAL STATEMENTS - GREENKRAFT, INC.f8k120413ex99ii_sunrise.htm
EX-10.6 - LOAN MODIFICATION AGREEMENT - GREENKRAFT, INC.f8k112613ex10vi_sunrise.htm
EX-10.3 - BUSINESS LOAN AGREEMENT - GREENKRAFT, INC.f8k112613ex10iii_sunrise.htm
EX-4.1 - PROMISSORY NOTE - GREENKRAFT, INC.f8k112613ex4i_sunrise.htm
Exhibit 99.3
 
Sunrise Global, Inc.
UNAUDITED PRO FORMA BALANCE SHEET
September 30, 2013
 
   
Historical
              
   
Greenkraft Inc
    
Sunrise
Global Inc.
    
Pro Forma
Adjustments
    
Pro Forma
  
   
9/30/2013
    
7/31/2013
              
ASSETS
                        
CURRENT ASSETS
                        
Cash
   $ 411,432     $ -     $ -     $ 411,432  
Prepaid Expenses
     -       549       -       549  
Inventory
     2,381,619       -       -       2,381,619  
Deposits on inventory
     178,926       -       -       178,926  
TOTAL
     2,971,977       549       -       2,972,526  
Property and Equipment, net
     117,874       -       -       117,874  
TOTAL ASSETS
   $ 3,089,851     $ 549     $ -     $ 3,090,400  
                                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                                
CURRENT LIABILITIES
                                
Accounts Payable
   $ 310,707     $ 1,800     $ -     $ 312,507  
Accrued Liabilities
     39,000       -       -       39,000  
Deferred Income
     928,205                       928,205  
Line of credit
     1,036,024       -       -       1,036,024  
Accounts Payable - Related party
     285,389       -       -       285,389  
Short Term Debt - Related Parties
     1,941,916       26,029       -       1,967,945  
TOTAL
     4,541,241       27,829       -       4,569,070  
Long-term Debt
     -       -       -       -  
TOTAL LIABILITIES
     4,541,241       27,829       -       4,569,070  
                                 
STOCKHOLDERS' EQUITY (DEFICIT)
                                
Common stock
     -       3,358       39,200 (1)     42,558  
Additional paid-in capital
     1,017,738       192,425       (262,263 )(1)     947,900  
Retained Earnings (Deficit)
     (2,469,128 )     (223,063 )     223,063 (1)     (2,469,128 )
Total stockholders' equity (deficit)
     (1,451,390 )     (27,280 )     -       (1,478,670 )
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
   $ 3,089,851     $ 549     $ -     $ 3,090,400  
 
Pro Forma Adjustments
(1)
To record the issuance of 41,500,000 shares of Sunrise Global, Inc. common stock for 100% of Greenkraft, Inc. common stock and cancellation of 2,300,000 shares of Sunrise Global, Inc.
 
 
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Sunrise Global, Inc.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATONS
 
   
Historical
              
   
Greenkraft Inc
    
Sunrise
Global Inc
              
   
Nine Months Ended September 30, 2013
    
Nine Months Ended
July 31, 2013
    
Pro Forma
Adjustments
    
Pro Forma
  
                         
Revenue
   $ 1,924,317     $ -     $ -     $ 1,924,317  
                                 
Costs and expenses:
                                
Cost of revenue
     1,189,644       -       -       1,189,644  
Research and development
     248,965       -       -       248,965  
Selling, general and administrative
     981,624       3,896       -       985,520  
Operating income (loss)
     (495,916 )     (3,896 )     -       (499,812 )
                                 
Other Income (expense)
                                
Interest income
     144       -       -       144  
Interest expense
     (41,411 )     -       -       (41,411 )
Other income
     -       -       -       -  
Net income (loss)
   $ (537,183 )   $ (3,896 )   $ -     $ (541,079 )
 
 
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Sunrise Global, Inc.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATONS
 
   
Historical
              
   
Greenkraft Inc
    
Sunrise
Global Inc
              
   
Year Ended
December 31,
2012
    
Year Ended
October 31,
2012
    
Pro Forma
Adjustments
    
Pro Forma
  
                         
Revenue
   $ 236,011     $ -     $ -     $ 236,011  
                                 
Costs and expenses:
                                
Cost of revenue
     140,838       -       -       140,838  
Research and development
     322,938                       322,938  
Selling, general and administrative
     662,438       4,746       -       667,184  
Operating income (loss)
     (890,203 )     (4,746 )     -       (894,949 )
                                 
Other Income (expense)
                                
Interest income
     3,684       -       -       3,684  
Interest expense
     (24,037 )     -       -       (24,037 )
Other income
     -       -       -       -  
Net income (loss)
   $ (910,556 )   $ (4,746 )   $ -     $ (915,302 )
 
 
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NOTES TO PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – BASIS OF PRESENTATION
 
The unaudited pro forma consolidated balance sheet as at September 30, 2013 and the unaudited pro forma statements of operations for the nine months ending September 30, 2013 and July 31, 2013 are based on the unaudited balance sheets of Sunrise Global, Inc. and Greenkraft, Inc. as of July 31, 2013 and September 30, 2013.  The unaudited statements of operations for the year ended December 31, 2012 and the unaudited statements of operations for the nine months ending September 30, 2013 are combined with pro forma adjustments to give effect to the share exchange as if it occurred on the first day of the first period presented.
 
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 transactions has occurred on the above mentioned dates. 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 – SHARE EXCHANGE BETWEEN GREENKRAFT, INC. AND SUNRISE GLOBAL, INC.
 
Effective December, 2013, Sunrise Global, Inc. issued 41,500,000 shares for 100% of the common stock of Greenkraft, Inc.  In connection with the Share Exchange, Greenkraft returned 2,300,000 shares of Sunrise Global previously held by it and Sunrise Global, Inc. cancelled these 2,300,000 shares.
 
Prior to the share exchange, Greenkraft, Inc. owned a majority interest of Sunrise Global, Inc.   As a result, the share exchange will be accounted for as a combination between entities under common control under ASC 805-10-15. Accordingly, the historical financial statements will be adjusted retroactively assuming the transaction occurred on the first day of the first period presented.
 
 
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GREENKRAFT, INC. Reports