Viabuilt Ventures Inc. - FORM 8-K - EX-99.3 - UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

Attached files

file	filename
EX-99.2 - FINANCIAL STATEMENTS - Viabuilt Ventures Inc.	vbvt_992.htm
EX-99.1 - FINANCIAL STATEMENTS - Viabuilt Ventures Inc.	vbvt_991.htm
EX-10.3 - COMMON STOCK PURCHASE WARRANT - Viabuilt Ventures Inc.	vbvt_103.htm
EX-10.2 - FORM OF EMPLOYMENT AGREEMENT - Viabuilt Ventures Inc.	vbvt_102.htm
EX-10.1 - 2019 INCENTIVE COMPENSATION PLAN - Viabuilt Ventures Inc.	vbvt_101.htm
EX-2.1 - AMENDED SHARE EXCHANGE AGREEMENT - Viabuilt Ventures Inc.	vbvt_21.htm
8-K - FORM 8-K - Viabuilt Ventures Inc.	vbvt_8k.htm

EXHIBIT 99.3

Pro-Forma Financial Information

The following unaudited pro-forma data provides the balance sheet as of December 31, 2018 and summarizes the result of the operations for the nine months ended September 30, 2019 as if the acquisition of Firetainment, Inc. had been completed on January 1, 2018. The pro-forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2018.

Pro-Forma
Consolidated Balance Sheets
(Unaudited)

	At September 30, 2019
	Firetainment			Viabuilt			Pro-Forma Adjustments			(a)	Combined
ASSETS
CURRENT ASSETS
Cash	$	30,340		$	-		-				$	30,340
Accounts receivable, net		17,038			-		-					17,038
Inventory		65,424			-		-					65,424
Other current assets		4,524			-		-					4,524
Total Current Assets		117,326			-			-				117,326

FIXED ASSETS, NET		76,019			-			-				76,019

TOTAL ASSETS	$	193,345		$	-			-			$	193,345

LIABILITIES AND STOCKHOLDERS DEFICIT
CURRENT LIABILITIES
Line of credit - related party	$	119,790		$	-		$	-			$	119,790
Related party advances		471,150			-			-				471,150
Notes payable		198,175			-			-				198,175
Finance lease liability, current portion		13,405			-			-				13,405
Accounts payable		78,674			12,705			-				91,379
Due to related party		-			80,437			(80,437	)			-
Accrued expenses		104,814			32,669			-				137,483
Total Current Liabilities		986,008			125,811			(80,437	)			1,031,382
NON-CURRENT LIABILITIES
Finance lease liability		47,972			-			-				47,972
Derivative liability		-			525,274			-				525,274
Convertible debt		-			97,058			-				97,058
Total Long-Term Debt		47,972			622,332			-				670,804
Total Liabilities		1,033,980			748,143			(80,437	)			1,701,686

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS DEFICIT
Common Stock		100			1,235			6,900				8,235
Additional paid-in-capital		124,000			123,870			(799,711	)			(667,706	)
Accumulated deficit		(964,735	)		(873,248	)		873,248				(964,735	)
		(840,635	)		(748,143	)		80,437				(1,508,341	)

TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$	193,345		$	-			-			$	193,345

(a)

On December 23, 2019, Viabuilt Ventures, Inc. completed a Share Exchange with Firetainment, Inc. As a result of the share exchange, Firetainment, Inc. became a wholly owned subsidiary of Viabuilt Ventures, Inc. As a result, the shareholders of Firetainment, Inc. owned a majority (85%) of the voting stock of Viabuilt Ventures, Inc. The transaction was regarded as a reverse merger whereby Firetainmnet, Inc. was considered to be the accounting acquirer as it retained control of Viabuilt Ventures, Inc. after the exchange. Although the Company is the legal parent company, the share exchange was treated as a recapitalization of Firetainmnet, Inc. Firetainment, Inc. is the continuing entity for financial reporting purposes. The Financial Statements have been prepared as if Firetainment, Inc. had always been the reporting company and then on the share exchange date, had changed its name and reorganized its capital stock.

Pro-Forma

Consolidated Statements of Operations

(Unaudited)

	Nine months ended September 30, 2019
	Firetainment Nine Months			Viabuilt Nine Months			Pro-Forma Adjustments			(b)	Combined

Revenue	$	750,492		$	-			-			$	750,492
Cost of goods sold		520,491			-			-				520,491
Gross profit		230,001			-			-				230,001

General and administrative expenses		158,485			22,297			(22,297	)			158,485
Selling expense		19,133			-			-				19,133
Salaries and wages		29,128			-			-				29,128
		206,746			22,297			(22,297	)			206,746

Income (loss) from operations		23,255			22,297			(22,297	)			23,255

Other income/ (expense)
Interest expenses		(57,671	)		(84,848	)		84,848				(57,671	)
Other income (expense)		-			(26,627	)		26,627				-
Total other income/ (expenses)		(57,671	)		(111,475	)		111,475				(57,671	)

Provision for income taxes		-			-							-

Net loss	$	(34,416	)	$	(133,772	)	$	133,772			$	(34,416	)

Net loss per common share - basic and diluted	$	(344	)	$	(0.11	)	$	0.11			$	(0.01	)

Weighted average number of shares outstanding
during the year - basic and diluted		100			1,179,848							7,003,383

(b)

The share exchange was treated as a recapitalization of Firetainment, Inc. and is the continuing entity for financial reporting purposes. The Financial Statements have been prepared as if Firetainment, Inc. had always been the reporting company and then on the share exchange date, had changed its name and reorganized its capital stock.

Viabuilt Ventures Inc. - FORM 8-K - EX-99.3 - UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS - December 31, 2019

Attached files

Viabuilt Ventures Inc. Reports