Attached files
Exhibit 99.1
Itokk, Inc. (formerly Shadow Marketing Inc.)
(A Development Stage Company)
Pro forma Balance Sheet
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June 30, Pro Forma Combined
2009 Adjustments Pro Forma
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CURRENT ASSETS
Cash $ 122 $ -- $ -- $ 122
INTELLECTUAL PROPERTY (a) 2,000,000 -- 2,000,000
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TOTAL ASSETS $ 122 $ 2,000,000 -- $ 2,000,122
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 13,150 $ -- $ -- $ 13,150
Due to related party 42,859 -- -- 42,859
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TOTAL CURRENT LIABILITIES 56,009 -- 56,009
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STOCKHOLDERS' EQUITY (DEFICIENCY)
Common stock, $0.001 par value 7,445 (a) 30,600 (b) (4,000) 34,045
Additional paid-in capital 17,055 (a) 1,969,400 (b) 4,000 1,990,455
Deficit accumulated during the development stage (80,387) -- (80,387)
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TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY) (55,887) 2,000,000 -- 1,944,113
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) $ 122 $ 2,000,000 $ -- $ 2,000,122
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(a) On October 28, 2009, Itokk, Inc. ("Itokk") issued 30,600,000 shares of its
common stock to Packetera Communications Inc. ("Packetera") pursuant to a
licensing agreement whereby Itokk acquired an exclusive worldwide 75 year
license (valued at $2,000,000) to use, sell, market, distribute and/or
sublicense various products and services owned by Packetera.
In connection with the completion of the licensing agreement, Itokk agreed
to split its common stock such that every share of pre-split stock was
exchanged for 8.5 post-split shares of common stock.
(b) In October 2009, two officers of Itokk each cancelled 17,000,000 (2,000,000
pre split) shares (34,000,000 shares were cancelled in total)