Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - MobileBits Holdings Corp | f8k031210_mobilebits.htm |
| EX-3.1 - CERTIFICATE OF AMENDMENT TO THE ARTICLES OF INCORPORATION CHANGING THE NAME OF THE CORPORATION TO MOBILEBITS HOLDINGS CORPORATION - MobileBits Holdings Corp | f8k031210ex3i_mobilebits.htm |
| EX-99.1 - FINANCIAL STATEMENTS OF MOBILEBITS CORPORATION FOR THE PERIOD FROM MARCH 24, 2009 (INCEPTION) TO OCTOBER 31, 2009 - MobileBits Holdings Corp | f8k031210ex99i_mobilebits.htm |
| EX-10.1 - SHARE EXCHANGE AGREEMENT BY AND AMONG MOBILEBITS HOLDINGS - MobileBits Holdings Corp | f8k031210ex10i_mobilebits.htm |
| EX-16.1 - LETTER FROM BERMAN & COMPANY, P.A. TO THE U.S. SECURITIES AND EXCHANGE COMMISSION DATED MARCH 12, 2010 - MobileBits Holdings Corp | f8k031210ex16i_mobilebits.htm |
Exhibit 99.2
Proforma Financial Information
(Unaudited)
The following selected unaudited pro forma financial information is based on the historical financial statements of MobileBits Holdings Corporation and MobileBits Corporation and has been prepared to illustrate the effect of MobileBits Holdings Corporation’s acquisition of MobileBits Corporation. Immediately prior to the merger, MobileBits Holdings Corporation and MobileBits Corporation were controlled by the same controlling interest shareholder. Accordingly, the merger is a transaction between entities under common control and is accounted for similar to a pooling of interest. .
The pro forma balance sheet gives effect to the merger as if it occurred on October 31, 2009. The pro forma statements of operations give effect to the merger as if it occurred at the beginning of each period. The pro forma information presented may not be indicative of the financial position or results of operations had the transaction been completed at October 31, 2009 or at the beginning of the each of the periods presented, nor is it indicative of the future financial position or results of the combined entity.
MobileBits Holdings Corporation
Proforma Combined Balance Sheet
As of October 31, 2009
(Unaudited)
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MobileBits
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Holdings
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MobileBits
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Proforma
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Proforma
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Corporation
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Corporation
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Adjustments
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Combined
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ASSETS
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Current assets:
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Cash
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$ | 5,063 | $ | 393,260 | $ | - | $ | 398,323 | ||||||||
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Prepaid expenses
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- | 27,500 | - | 27,500 | ||||||||||||
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Total current assets
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5,063 | 420,760 | - | 425,823 | ||||||||||||
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Website, net of accumulated amortization of $274
(MobileBits Corporation)
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- | 9,605 | - | 9,605 | ||||||||||||
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TOTAL ASSETS
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$ | 5,063 | $ | 430,365 | $ | - | $ | 435,428 | ||||||||
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
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Current liabilities
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Accounts payable and accrued expenses
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$ | - | $ | 125,737 | $ | - | $ | 125,737 | ||||||||
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Accounts payable and accrued expenses - related party
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43,676 | 76,758 | - | 120,434 | ||||||||||||
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Total current liabilities
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43,676 | 202,495 | - | 246,171 | ||||||||||||
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Stockholders' equity (deficit)
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- | - | - | - | ||||||||||||
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Common stock
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2,370 | 2,141 | (1) | (2,000 | ) | 3,049 | ||||||||||
| (2) | 2,679 | |||||||||||||||
| (3) | (2,141 | ) | ||||||||||||||
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Additional paid in capital
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36,630 | 663,822 | (1) | 2,000 |
701,914
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| (2) | (2,679 | ) | ||||||||||||||
| (3) | 2,141 | |||||||||||||||
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Accumulated Deficit
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(77,613 | ) | (438,093 | ) |
-
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(515,706 | ) | |||||||||
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Total stockholders' equity (deficit)
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(38,613 | ) | 227,870 | - | 189,257 | |||||||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
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$ | 5,063 | $ | 430,365 | $ | - | $ | 435,428 | ||||||||
(1) To record 2,000,000 shares issued to the sole officer and director of MobileBits Holdings Corporation being returned and cancelled at par value.
(2) To record issuance of 2,678,911 shares of stock to MobileBits Corporation shareholders.
(3) To eliminate MobileBits Corporation’s equity.
1
MobileBits Holdings Corporation
Proforma Combined Statement of Operations
(Unaudited)
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For the Twelve Months Ended October 31, 2009
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For the Period from March 24, 2009 (Inception) through October 31, 2009 | |||||||||||||||
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MobileBits
Holdings |
MobileBits
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Proforma
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Proforma
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Corporation
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Corporation
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Adjustments
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Combined
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General and administrative
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$ | 59,296 | $ | 437,819 | $ | - | 497,115 | |||||||||
| Amortization Expense | - | 274 | - | 274 | ||||||||||||
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Total operating expenses
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59,296 | 438,093 | - | 497,389 | ||||||||||||
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NET LOSS
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$ | (59,296 | ) | $ | (438,093 | ) | $ | - | $ | (497,389 | ) | |||||
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Net loss per common share - basic and diluted
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$ | (0.03 | ) | $ | (0.16 | ) | ||||||||||
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Weighted average common shares outstanding - basic and diluted
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2,370,000 | - | 678,911 | 3,048,911 | ||||||||||||
2