LiquidValue Development Inc. - FORM 8-K/A - EX-99.3 - PRO FORMA FINANCIAL INFORMATION - April 17, 2018

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EX-99.2 - SED HOME, INC.'S UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEM - LiquidValue Development Inc.sed_ex992.htm
EX-99.1 - SED HOME, INC.'S AUDITED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2 - LiquidValue Development Inc.sedh_ex991.htm
8-K/A - FORM 8-K/A - LiquidValue Development Inc.sedh_8ka.htm
 
 
 Exhibit 99.3
 
SeD Intelligent Home Inc. and Subsidiaries
Pro Forma Consolidated Balance Sheets
September 30, 2017
(Unaudited)
 
 
 
  As Reported
 
 
  Pro Forma
 
 
 
 SeD Home Inc.
 
 
SeD Intelligent Home Inc.
 
 
 
 
 
 
 
 
 
09/30/2017
 
 
09/30/2017
 
 
Adjustments
 
 
Combined
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
 
 
 
 
 
 
 
 
 
 
 
Construction in Progress
 $31,262,668 
 $- 
     
 $31,262,668 
Land Held for Development
  25,206,357 
  - 
    
  25,206,357 
Real Estate Held For Sale
  119,738 
  - 
    
  119,738 
 
  56,588,763 
  - 
    
  56,588,763 
 
    
    
    
    
Cash
  595,457 
  13,178 
    
  608,635 
Restricted Cash
  2,650,718 
  - 
    
  2,650,718 
Rent Receivable
  1,600 
  - 
    
  1,600 
Prepaid Expenses
  35,099 
  - 
    
  35,099 
Fixed Assets, Net
  27,311 
  - 
    
  27,311 
Deposits
  23,603 
  - 
    
  23,603 
 
    
    
    
    
Total Assets
 $59,922,551 
 $13,178 
    
 $59,935,729 
 
    
    
    
    
 
    
    
    
    
Liabilities and Shareholders' Equity
    
    
    
    
 
    
    
    
    
Liabilities
    
    
    
    
Accounts Payable and Accrued Expenses
 $980,175 
 $29,616 
    
 $1,009,791 
Accrued Interest - Related Parties
  1,800,339 
  - 
    
  1,800,339 
Tenant Security Deposits
  2,625 
  - 
    
  2,625 
Builder Deposits
  5,754,295 
  - 
    
  5,754,295 
Notes Payable, Net of Debt Discount
  9,771,821 
  - 
    
  9,771,821 
Notes Payable - Related Parties, Net of Debt Discount
  8,319,408 
  20,000 
    
  8,339,408 
Total Liabilities
  26,628,663 
  49,616 
    
  26,678,279 
 
    
    
    
    
Shareholders' Equity
    
    
    
    
Common Stock, at par $0.0001, 500,000,000 shares authorized, issued, and outstanding
  50,000 
  74,043 
    
  124,043 
Subscription Receivable - 500,000,000 shares
  (50,000)
  - 
    
  (50,000)
Additional Paid In Capital
  33,238,322 
  100,694 
    
  33,339,016 
Accumulated Deficit
  (2,163,517)
  (211,176)
    
  (2,374,693)
Total Shareholders' Equity
  31,074,805 
  (36,438)
    
  31,038,367 
Non-controlling Interest
  2,219,083 
  - 
    
  2,219,083 
Total Shareholders' Equity
  33,293,888 
  (36,438)
    
  33,257,450 
 
    
    
    
  - 
Total Liabilities and Shareholders' Equity
 $59,922,551 
 $13,178 
    
 $59,935,729 
 
 
 
 
 
SeD Intelligent Home Inc. and Subsidiaries
Pro Forma Consolidated Statements of Operations
For the Nine Months Ended September 30
(Unaudited)
 
 
 
  As Reported
 
 
  Pro Forma
 
 
 
 SeD Home Inc.
 
 
SeD Intelligent Home Inc.
 
 
 
 
 
 
 
 
2017
 
 
2017
 
 
Adjustments
 
 
Combined
 
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
Rental Income
 $88,438 
 $- 
  - 
 $88,438 
Property Sales
  2,703,736 
  - 
    
  2,703,736 
 
  2,792,174 
  - 
    
  2,792,174 
Operating Expenses
    
    
    
    
Cost of Sales
  2,570,182 
  - 
    
  2,570,182 
 
    
    
    
    
General and Administrative Expenses
  814,568 
  28,468 
    
  843,036 
 
  3,384,750 
  28,468 
    
  3,413,218.00 
 
    
    
    
    
Loss From Operations
  (592,576)
  (28,468)
    
  (621,044.00)
 
    
    
    
    
Other Income
    
    
    
  - 
Interest Income
  18,957 
  - 
    
  18,957 
Other Income
  34,455 
  - 
    
  34,455 
 
  53,412 
  - 
    
  53,412 
 
    
    
    
    
Net Loss Before Income Taxes
  (539,164)
  (28,468)
    
  (567,632.00)
 
    
    
    
    
Provision for Income Taxes
  - 
  - 
    
  - 
 
    
    
    
    
Net Loss
  (539,164)
  (28,468)
    
  (567,632.00)
 
    
    
    
    
Net Loss Attributable to Non-controlling Interest
  (58,799)
  - 
    
  (58,799)
 
    
    
    
    
Net Loss Attributable to SeD Home Inc. and Subsidiaries
 $(480,365)
 $(28,468)
    
 $(508,833)
 
    
    
    
    
Net Loss Per Share
  (0.00)
  (0.00)
    
  (0.00)
 
    
    
    
    
Shares Outstanding after the Merger
  704,043,324 
  704,043,324 
    
  704,043,324 
 
 
 
 
 
SeD Intelligent Home Inc. and Subsidiaries
Pro Forma Consolidated Statements of Operations
For the Year Ended December 31, 2016
(Unaudited)
 
 
 
  As Reported
 
 
  Pro Forma
 
 
 
 SeD Home Inc.
 
 
SeD Intelligent Home Inc.
 
 
 
 
 
 
 
 
2016
 
 
2016
 
 
Adjustments
 
 
Combined
 
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
Rental Income
 $230,059 
 $- 
  - 
 $230,059 
Property Sales
  800,000 
  - 
    
  800,000 
 
  1,030,059 
  - 
    
  1,030,059 
Operating Expenses
    
    
    
    
Cost of Sales
  970,397 
  - 
    
  970,397 
General and Administrative Expenses
  1,158,149 
  54,880.00 
    
  1,213,029 
 
  2,128,546 
  54,880.00 
    
  2,183,426.00 
 
    
    
    
    
Loss From Operations
  (1,098,487)
  (54,880.00)
    
  (1,153,367)
 
    
    
    
    
Other Income
    
    
    
    
Interest Income
  31,761 
  - 
    
  31,761 
Other Income
  9,984 
  - 
    
  9,984 
 
  41,745 
  - 
    
  41,745 
 
    
    
    
    
Net Loss Before Income Taxes
  (1,056,742)
  (54,880.00)
    
  (1,111,622)
 
    
    
    
    
Provision for Income Taxes
  - 
  - 
    
  - 
 
    
    
    
    
Net Loss
  (1,056,742)
  (54,880.00)
    
  (1,111,622)
 
    
    
    
    
Net Loss Attributable to Non-controlling Interest
  (148,191)
  - 
    
  (148,191)
 
    
    
    
    
Net Loss Attributable to SeD Home Inc. and Subsidiaries
 $(908,551)
 $(54,880)
    
 $(963,431)
 
    
    
    
    
Net Loss Per Share
  (0.00)
  (0.00)
    
  (0.00)
 
    
    
    
    
Shares Outstanding after the Merger
  704,043,324 
  704,043,324.00 
    
  704,043,324 
 
 
 

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