UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

Balance Sheet as at December 31, 2013

Statement of Operations for the twelve months ended December 31, 2013

Notes to the Unaudited Pro Forma Combined Financial Statements

UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

On July 15, 2014 (the "Closing Date"), Gold Ridge Resouces, Inc. ("GDGR") closed a share exchange agreement (the "Exchange Transaction") with CorGreen Technologies Corporation ("CGTC") and the shareholders of CGTCI. As a result of the Exchange Transaction, the CGTC unitholders acquired 18,562,500 (68.7%) of the 27,012,500 issued and outstanding common stock of GDGR.

The share exchange constitutes a reverse acquisition and is considered to be a capital transaction in substance, rather than a business combination, therefore no goodwill or other intangible assets have been recorded.

The following Unaudited Pro Forma Combined Financial Statements give effect to the aforementioned acquisition based on the assumptions and adjustments set forth in the accompanying notes to the Unaudited Pro Forma Combined Financial Statements, which management believes are reasonable.  The Unaudited Pro Forma Combined Balance Sheet and Combined Statement of Operations, represents the combined financial position and operations of GDGR and CGTC as of December 31, 2013 as if the merger occurred on January 1, 2013. These unaudited Pro Forma Combined Financial Statements and accompanying notes should be read in conjunction with the audited historical financial statements and related notes of GDGR, which are included in this document.

The Unaudited Pro Forma Combined financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved if the merger of GDGR and CGTC had been consummated as of the beginning of the period indicated, nor is it necessarily indicative of the results of future operations.

GOLD RIDGE RESOURCES, INC.

Unaudited Pro forma Combined Balance Sheet

December 31, 2013

CorGreen

Adjusted

Gold Ridge

Technologies

Pro forma

Pro forma

Resoures, Inc.

Corporation

Adjustments

Note

Totals

 

 

ASSETS

CURRENT ASSETS

 Cash

$

40,288

$

17,192

$

(40,288

)

{a}

$

17,192

Accounts receivable

-

280

-

280

Inventory

-

95,466

-

95,466

Receivables from property sales

-

786,327

-

786,327

Residential property for sale

-

1,569,406

-

1,569,406

Total current assets

40,288

2,468,671

(40,288

)

 

2,468,671

LONG-LIVED ASSETS

Property and equipment

-

400,952

-

400,952

TOTAL ASSETS

$

40,288

$

2,869,623

$

(40,288

)

 

$

2,869,623

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts payable and accrued expenses

$

-

$

9,341

$

-

$

9,341

Due to shareholder

-

379,525

-

379,525

Mortgages on residential properties held for sale

-

1,792,715

-

1,792,715

Deferred revenue

-

250,000

-

250,000

TOTAL LIABILITIES

-

2,431,581

-

 

2,431,581

STOCKHOLDERS' EQUITY

Common stock (GDGR)

16,450

-

10,563

{b}

27,013

Common stock (CGTC)

-

5,000

(5,000

)

{c}

-

Additional paid-in capital

71,550

-

(93,563

)

{c}

(22,013

)

Retained earnings (accumulated deficit)

(47,712

)

433,042

47,712

{c}

433,042

Total stockholders' equity

40,288

438,042

(40,288

)

 

438,042

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

40,288

$

2,869,623

$

(40,288

)

 

$

2,869,623

GOLD RIDGE RESOURCES, INC.

Unaudited Pro forma Combined Statement of Operations

For the Twelve Months Ended December 31, 2013

CorGreen

Adjusted

Gold Ridge

Technologies

Pro forma

Pro forma

Resources, Inc.

Corporation

Adjustments

Note

Totals

 

 

REVENUES

$

-

$

1,758,781

$

-

$

1,758,781

COST OF SALES

-

792,855

-

792,855

GROSS PROFIT

-

965,926

-

 

965,926

OPERATING EXPENSES

Advertising, promotional and selling

-

64,395

-

64,395

Depreciation

-

35,607

-

35,607

Contract labor

-

184,038

-

184,038

General and administrative

32,274

147,581

(32,274

)

147,581

Total operating expenses

32,274

431,621

(32,274

)

 

431,621

INCOME FROM OPERATIONS

(32,274

)

534,305

32,274

 

534,305

OTHER EXPENSES

Interest expense

-

(24,307

)

-

(24,307

)

Total Other Expenses

-

(24,307

)

-

 

(24,307

)

INCOME BEFORE INCOME TAXES

(32,274

)

509,998

32,274

509,998

PROVISION FOR INCOME TAXES

-

-

-

 

-

NET INCOME

$

(32,274

)

$

509,998

$

32,274

 

$

509,998

BASIC AND DILUTED INCOME PER SHARE

$

(0.00

)

$

0.04

   

$

0.02

BASIC AND DILUTED WEIGHTED AVERAGE

   NUMBER OF SHARES OUTSTANDING

27,012,500

12,000,000

 

27,012,500

GOLD RIDGE RESOURCES, INC;

NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

1.

BASIS OF PREPARATION

The Unaudited Pro Forma Combined Balance Sheet represents the combined financial position of GDGR and CGTC as of December 31, 2013 as if the acquisition occurred on January 1, 2013.

The Unaudited Pro Forma Combined Statements of Operations represents the combined financial position of GDGR and CGTC assuming that the acquisition took place on January 1, 2013.

2.

PRO FORMA ADJUSTMENTS

{a}

To elimate cash of GDGR which was not transferred to CGTC in the exchange transaction.

{b}

Simultaneously with the closing of the exchange transaction, GDGR issued 18,562,500 shares of common stock to CGTC shareholders and cancelled 8,000,000 shares of a former GDGR shareholder in exchange for former assets of GDGT, leaving a total number of issued and outstanding shares of common stock of GDGR from 27,012,500.

{c}

These are adjustments to paid in capital and retained deficit to eliminate the CGTC additional paid-in capital based on the related exchange ratio inherent in the share exchange agreement.