Financial Gravity Companies, Inc. - FORM 8-K/A - EX-99.4 - FORTA'S UNAUDITED CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED JUNE

Attached files

file	filename
8-K/A - AMENDMENT TO CURRENT REPORT - Financial Gravity Companies, Inc.	fingravity_8ka1.htm
EX-99.5 - UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS OF THE COMPANY AND S - Financial Gravity Companies, Inc.	fingravity_ex9905.htm
EX-99.3 - FORTA'S AUDITED FINANCIAL STATEMENTS AND ACCOUNTANTS' REPORT FOR THE FISCAL YEAR - Financial Gravity Companies, Inc.	fingravity_ex9903.htm

Exhibit 99.4

The Notes from the audited financial statements in Exhibit 99.3 are incorporated and are applicable to the unaudited financial statements in this Exhibit.

Forta Financial Group, Inc.

Condensed Balance Sheets

	June 30, 2020			June 30, 2019
	Unaudited			Unaudited
ASSETS
Current Assets
Total Bank Accounts	$	565,834		$	192,614
Total Accounts Receivable		30,328			–
Total Other Current Assets		164,519			112,577
Total Current Assets		760,681			305,191
Fixed Assets		–			–
Total Fixed Assets		–			7,842
Other Assets		–			–
Total Other Assets		516,469			133,003
TOTAL ASSETS		1,277,150			446,036
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Total Accounts Payable		17,254			9,213
Other Current Liabilities		214,846			172,892
Total Current Liabilities		232,100			182,104
Long-Term Liabilities
Total Long-Term Liabilities		760,104			–
Total Liabilities		992,204			182,104
Equity
300 Common stock		354,343			354,343
303 Treasury Stock		(1,001	)		(1,001	)
305 Paid In Capital		921,193			921,193
32000 Retained Earnings		(988,975	)		(1,023,225	)
Net Income		(614	)		12,622
Total Equity		284,946			263,932
TOTAL LIABILITIES AND EQUITY	$	1,277,150		$	446,036

Forta Financial Group, Inc.

Condensed Statements of Operations

	Nine Months Ending June 30, 2020 Unaudited			Nine Months Ending June 30, 2019 Unaudited
Income
Revenue	$	2,737,721		$	3,108,246
Gross Profit		2,737,721			3,108,246
Expenses
Marketing		118,269			89,719
Compensation		1,728,617			1,695,485
General & Administrative		864,152			1,268,486
Depreciation Expense		6,182			4,900
Legal Services		6,986			16,529
Total Expenses		2,724,206			3,075,120
Net Operating Income		13,515			33,126
Other Expenses
Income Taxes		893			33,740
Total Other Expenses		893			33,740
Net Other Income		(893	)		(33,740	)
Net Loss	$	12,622		$	(614	)

Forta Financial Group, Inc.

Statement of Cash Flows

	Nine Months Ending June 30, 2020			Nine Months Ending June 30, 2019
	Unaudited			Unaudited
OPERATING ACTIVITIES
Net Loss	$	12,622		$	(614	)

Adjustments to reconcile Net Loss to Net Cash provided by operations:
Accounts Receivable		–			(30,328	)
Accrued Revenue		(6,438	)		(59,677	)
Advances to Employees		–			2,500
Due from clearing house		(6,010	)		(7,383	)
Prepaid Expenses		229			20,825
Accounts Payable		(179	)		(5,324	)
401k Payable		1,072			722
Accrued Payroll Taxes		152			(1,226	)
Federal Income Tax Payable		–			11,799
Other Accrued Liabilities		1,475			(12,611	)
Payable to Advisors:Accrued Revenue Payable		(18,252	)		1,742
Payable to Advisors:Commissions Payable - Internal advisors		9,403			(9,860	)
Payable to Advisors:Commissions payable - External advisors		19,998			–
Payroll Payable		16,238			–
Payroll Taxes		4,402			–
Vacation Pay Liability		4,212			30,125
Prepaid Income		–			3,000
State Corp. Tax Liability		–			10,044
Total Adjustments to reconcile Net Income to Net Cash provided by operations:		6,304			(25,654	)
Net cash provided by operating activities		18,925			(26,268	)

INVESTING ACTIVITIES
Leasehold Improvements		(7,842	)		4,900
		–			(20,000	)
Deposits		(5,364	)		5,364
Net cash provided by investing activities		(13,206	)		(9,736	)

FINANCING ACTIVITIES
Treasury Stock		(1	)		–
Net cash provided by financing activities		5,719			377,700
Net cash increase for period		5,718			341,696
Cash at beginning of period		186,895			224,137
Cash at end of period	$	192,614		$	565,834

Financial Gravity Companies, Inc. - FORM 8-K/A - EX-99.4 - FORTA'S UNAUDITED CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED JUNE - August 27, 2020

Attached files

Financial Gravity Companies, Inc. Reports