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8-K/A - 8-K/A - DYNAMIC VENTURES CORP.eightka.htm
EX-99.2 - EXHIBIT 99.2 - DYNAMIC VENTURES CORP.exhibit_99-2.htm
EX-99.1 - EXHIBIT 99.1 - DYNAMIC VENTURES CORP.exhibit_99-1.htm
EXHIBIT 99.3
 

 
INTRODUCTION TO UNAUDITED PRO FORMA CONDENSED
 
COMBINED FINANCIAL STATEMENTS
 
 
The following unaudited pro forma condensed combined financial statements give effect to the stock exchange between Bundled Builder and Dynamic Ventures Corp. for the six months ended June 30, 2010, and year ended December 31, 2009.

These unaudited pro forma condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) The pro forma condensed consolidated financial statements are based on the estimates and assumptions included in these notes and include adjustments necessary for presentation of the Bundled Builder and Dynamic Ventures Corp. stock exchange agreement in accordance with US GAAP.

These unaudited pro forma condensed consolidated financial statements are not necessarily indicative of the financial position or results of operations that would have occurred had the acquisition been effected on the assumed dates. Additionally, future results may vary significantly from the results reflected in the unaudited pro forma consolidated statement of operations due to normal production declines, changes in prices, future transactions, the exclusion of various operating expenses and other factors.


 

 

 

 

 

 

 

 

 

 

 

 

 
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Dynamic Ventures Corp and Subsidiaries
Unaudited Pro Forma Consolidated Balance Sheet
June 30, 2010
                   
 
 
Bundled Builder
Solutions, Inc.
Dynamic
Ventures
Corp
 
 
Notes
 
 
Pro Forma
Adjustments
 
Pro Forma
Combined
Assets:
                 
                   
Cash and cash equivalents
 $          152,748
 
 $      75,693
         
 $  228,441
Accounts receivable, net
422,855
             
      422,855
Inventories
22,581
             
22,581
Deferred offering costs
               
                 -
Contracts in process
105,555
             
105,555
Prepaids and other current assets
3,628
             
3,628
                 
                 -
                   
   Total Current Assets
             707,367
 
         75,693
     
                     -
 
      783,060
                   
Property and equipment, net
0
             
0
                   
Other long term assets
0
             
                 -
                   
  Total Assets
 $          707,367
 
         75,693
     
                       -
 
      783,060
                   
Liabilities and Stockholders' Equity
                 
                   
Current Liabilities:
                 
Accounts payable
 $            94,651
 
 $      22,429
         
117,080
Customer deposits
                  5,959
             
5,959
Deferred income
                83,915
             
83,915
Royalty payable - contracts
                51,124
             
51,124
Loans from related parties - Directors and stockholders
             303,297
 
56,778
         
360,075
   Total Current Liabilities
538,946
 
79,207
     
0
 
618,153
                   
                   
                               
   Total Liabilities
538,946
 
79,207
     
0
 
618,153
                   
Equity
                 
                   
                   
Common Stock, 0.0001 par value, 200,000,000 shares
2,250
 
2,750
 
( B )
     
5,000
  authorized, 50,000,000 shares issued and outstanding
                 
                 
                 -
    Additional paid-in capital
$120,027
 
54,750
 
(A)
 
(61,014)
 
113,763
    Accumulated earning/deficit
46,144
 
(61,014)
 
(A)
 
61,014
 
46,144
                 
0
      Stockholders' Equity
168,421
 
(3,514)
     
                     -
 
      164,907
                   
   Total Liabilities and Stockholders' Equity
 $          707,367
 
 $      75,693
     
 $                 -
 
$783,060
                   
Shares Outstanding:
22,500,000
 
27,500,000
         
50,000,000
                   
                   
(A)  To restate equity and eliminate the Dynamic Ventures equity and reflect the value based on Bundled Builder's value as the ongoing entity.
   
(B)  Historical Common Stock, 0.0001 par value, 200,000,000 shares authorized, 22,500,000 shares issued and outstanding.
           
       
                 
                   
                   
 
 
 

 
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Dynamic Ventures Corp and Subsidiaries
Unaudited Pro Forma Consolidated Statements of Operations
For the Six  Months Ended June 30, 2010
                   
   
Bundled Builder
Solutions, Inc.
 
Dynamic Ventures
Corp
 
Notes
Pro Forma
Adjustments
 
Pro Forma
Combined
 
                   
Contract revenue
 
 $                    1,691,862
         
$1,691,862
 
Software revenue
 
6,000
         
               6,000.0
 
Total revenue
 
                       1,697,862
 
                                -
     
1,697,862
 
                   
Costs of contract revenue
 
1,299,491
         
1,299,491
 
Cost of software revenue
                 
Total cost of revenue
 
1,299,491
         
1,299,491
 
                   
Gross Margin
 
398,371
         
398,371
 
                   
Operating expense:
                 
 Selling, general and administrative
 
325,029
 
25,788
     
350,817
 
Depreciation expense
 
13,686
         
13,686
 
Total operating expenses
 
338,715
 
25,788
 
0
 
364,503
 
                   
Other income (expense):
                 
  Other income
 
738
 
411
     
1,149
 
  Interest expense
                 
                   
Total other income(expense)
 
                                  738
 
411
     
1,149
 
                   
Income(loss) before income taxes
 
60,394
 
(25,377)
 
0
 
35,017
 
                   
  Provision for income taxes
       
(C)
       
                   
Income (loss) from continuing operations
 
60,394
 
(25,377)
 
0
 
35,017
 
                   
Net income (loss)  per common share from Continuing Operations:
                 
Basic & Diluted
 
$0.003
 
($0.001)
     
$0.001
 
Diluted
 
$0.003
 
($0.001)
     
$0.001
 
                   
Weighted average common shares outstanding:
                 
Basic & Diluted
 
22,500,000
 
22,389,503
( D )
0
 
44,889,503
 
                   
(C )  No adjustment for income tax expense was made due to ongoing net operating loss carry forwards.
             
( D ) Proforma Weighted Average Common Shares Outstanding:
22,500,000 shares issued for the August 2, 2010 stock exchange are considered outstanding for the entire six months ending June 30,2010.
22,389,503 shares of Dynamic Ventures Corp are the weighted shares outstanding based on initial issuance dates.
Historical Weighted Average Common Shares Outstanding: 
22,500,000 shares issued for the August 2, 2010 stock exchange are considered outstanding for the entire six months ending June 30,2010.
Income per historical weighted average common shares outstanding for Bundled Builder Solutions , Inc is $.003 and for the combined entities is $.001.
Dynamic Ventures Corp has no historical shares outstanding at June 30, 2010 as all shares issued by Dynamic Ventures Corp are considered outstanding as of the Share Exchange date of August 2, 2010.
 
          
             
       
                 
       
         
         
         
 
 
 
 
 
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Dynamic Ventures Corp and Subsidiaries
Unaudited Pro Forma Consolidated Statements of Operations
For the Year Ended December 31, 2009
                   
   
 
Bundled Builder
Solutions, Inc.
 
Dynamic Ventures
Corp
 
 
Notes
 
Pro Forma Adjustments
 
 
Pro Forma Combined
 
REVENUE
                 
Contract revenue
 
 $                   3,529,911
         
$3,529,911
 
Software revenue
 
40,639
         
           40,639.0
 
      Total revenue
 
                     3,570,550
 
                                  -
     
3,570,550
 
                   
COST OF REVENUE
                 
Costs of contract revenue
 
2,708,041
         
2,708,041
 
Cost of software revenue
                 
     Total cost of revenue
 
2,708,041
         
2,708,041
 
                   
GROSS MARGIN
 
862,509
         
862,509
 
                   
OPERATING COSTS
                 
 General and administrative
 
1,126,195
 
33,437
     
1,159,632
 
Depreciation and amortization
 
68,785
         
68,785
 
     Total operating expenses
 
1,194,980
 
33,437
     
1,228,417
 
                   
INCOME (LOSS) FROM OPERATIONS
 
(332,471)
 
(33,437)
         
                   
OTHER INCOME (EXPENSE)
                 
Rental income
 
17,084
         
17,084
 
Other, net
 
(10,925)
             
                   
Total other income
 
                                 6,159
 
0
     
17,084
 
                   
Income(loss) before income taxes
 
(326,312)
 
(33,437)
     
(348,824)
 
                   
  Provision for income taxes
       
(A)
       
                   
NET LOSS
 
 $                     (326,312)
 
 $                (33,437)
     
 $       (348,824)
 
                   
Net income (loss)  per common share :
                 
Basic & Diluted
 
($0.01)
 
($0.00)
     
($0.01)
 
Diluted
 
($0.01)
 
($0.01)
     
($0.01)
 
                   
Weighted average common shares outstanding:
                 
Basic & Diluted
 
22,500,000
 
14,136,985
( B )
   
36,636,985
 
                   
      ( A )   No adjustment for income taxes is made due to incurring net operating losses.   No deferred tax asset is booked due to the uncertainty of realizing the asset in the future.
      ( B )    22,500,000 shares issued for the August 2,2010 stock exchange are considered outstanding for the entire year ending December 31,2009.
                 14,136,985 shares of Dynamic Ventures Corp are the weighted shares outstanding based on issuing 15,000,000 shares ( adjusted for the 5:1
         
                 stock split) on January 22,2009.
                 
                   
                   
 
 
 
 
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