Novation Holdings Inc - FORM 8-K - EX-99.2 - PROFORMA-FINANCIAL STATEMENTS

Attached files

file	filename
8-K - ALLEZOE MEDICAL HOLDINGS, INC. FORM 8K - Novation Holdings Inc	form8-k.htm
EX-3 - CERTIFICATE OF AMENDMENT - Novation Holdings Inc	exhibit3.htm
EX-99.1 - AUDITED FINANCIAL STATEMENTS 12-31-2009 AND 2008 - Novation Holdings Inc	exhibit991.htm

Allezoe Medical Holdings, Inc. and Subsidiaries

Proforma Financial Statements

August 31, 2010

Unaudited

Allezoe Medical Holdings, Inc. and Subsidiaries
Balance Sheet
Unaudited

									August 31, 2010	August 31, 2009
							Assets
		Current Assets
				Cash					$ 17,647	$ -
				Prepaid expenses					6,181	6,181
				Advances					-	3,500
		Total Current Assets						23,828			9,681
		Fixed Assets
				Electronic Equipment					73,288	73,288
				Furniture and Equipment					5,612	5,612
				Accumulated Depreciation					(73,233)	(66,796)
		Total Other Assets						5,667			12,103
		Other Assets
				Patents					320,551	271,730
		Total Other Assets						320,551			271,730

Total Assets								350,046			293,514
						Liabilities & Stock holders' Equity

	Current Liabilities
			Accounts Payable					289,316			251,024
			Bank overdraft					-			476
			Notes Payable					1,503,490			1,012,784
			Accrued Liabilities					1,608,639			734,895
	Total Current Liabilities							3,401,445			1,999,179

	Other Liabilities
			Long-term Notes Payable					-			354,244
	Total Other Liabilities							-			354,244

	Stockholder's Equity (Deficit)
			Common Stock 1,000,000 and 18,561,000 par value $.001 shares issued at, shares authorized
					at December 31, 2009 and September 30, 2010			18,718			18,561
			Additional paid in capital					21,981,583			19,880,631
			Deficit accumulated during the development stage					(25,051,699)			(21,959,101)
	Total Equity							(3,051,399)			(2,059,909)

Total Liabilities and Stockholders' Equity								$ 350,046			$ 293,514

Allezoe Medical Holdings, Inc. and Subsidiaries
Statement of Operations
Unaudited

				For the Period from August 16, 1999 (Inception) to
		August 31, 2010	August 31, 2009	August 31, 2010

Revenues		$ -	$ -	$ -

General & Administrative
	Advisor Fees	145,522	62,421	340,764
	Non-Cash Equity Compensation	-	1	2,146,252
	Internet Expense	5,478	10,326	42,965
	Marketing	-	-	762
	Regulatory Expenses	250	-	10,338
	Directors Fees	1,160,236	419,200	2,329,667
	Bad Debt Expense	-	-	11,996
	Amortization Expense	-	-	14,819
	Automobile Expense	-	30	1,718
	Bank Service Charges	473	543	3,079
	Business Meals	-	-	575
	Compensation	-	-	351,513
	Computer and Networks	-	-	14,195
	Conference Registration	65	-	59,188
	Contract Labor	67,310	50,129	214,800
	Contributions	-	-	9,700
	Depreciation Expense	6,436	7,107	58,414
	Dues and Subscriptions	599	-	47,232
	Equipment Rental	-	-	548
	Expense Reimbursement	-	-	10,530
	Fees and Filings	-	-	2,066
	Insurance	24,924	30,720	185,923
	Library Loan Charges	-	-	45
	Licenses and Permits	-	-	767
	Loss on Equipment	-	-	1,459
	Management Contract	-	-	160,350
	Miscellaneous	-	-	1,648
	Moving Expenses	-	-	5,413
	Office Expense	-	-	5,172
	Office Supplies	3,315	3,392	105,943
	Organizational Costs	-	-	287,344
	Payroll Expenses	1,286,435	692,117	9,437,121
	Postage and Delivery	3,149	606	34,591
	Printing and Reproduction	1,599	625	33,084
	Professional Development	-	-	75
	Professional Fees	145,128	164,523	2,958,763
	Publications	-	-	177
	Rent	74,616	57,431	315,670
	Repair	-	-	9,758
	Research & Development	(193)	(149,074)	4,214,200
	Safe Deposit Box Rental	-	-	135
	Storage Fees	-	-	3,325
	Sublease - Office Space	-	-	26,198
	Suspense	-	-	520
	Taxes	489	714	2,329
	Telephone	(1,395)	1,969	97,721
	Transplant Supplies	-	-	32,961
	Travel & Entertainment	13,166	8,668	830,752
	Utilities	-	-	151
	Interest Income	-	(2)	(5,584)
	Interest Expense	154,995	45,763	634,569
Total Expenses		$ 3,092,598	$ 1,407,208	$ 25,051,699

Net Income (Deficit)		$ (3,092,598)	$ (1,407,208)	$ (25,051,699)

Net loss per share - basic and diluted		$ -	$ -	$ -

Weighted average number of shares outstanding during the period - basic and diluted		18,616,084	18,564,253	18,616,084

Allezoe Medical Holdings, Inc. and Subsidiaries
Statements of Cash Flows
Unaudited

					August 31, 2010	August 31, 2009	For the Period from August 16, 1999 (Inception) to August 31, 2010
CASH FLOWS FROM OEPRATING ACTIVITIES:
	Net Income				$ (3,092,598)	$ (1,407,208)	$ (25,051,699)
		Adjustments to reconcile net income to net cash
			used in operating activities:
		Services paid with common stock			-	-	-
		Services paid with warrants			1,951,321	1,510,667	10,316,970
		Changes in assets and liabilities
			Increase (Decrease) in prepaid expenses		3,500	-	(6,181)
			Increase (Decrease) accounts payable		38,292	(185,819)	289,316
			Increase (Decrease) in notes payable		136,462	471,754	1,503,490
			Increase (Decrease) in accrued liabilities		873,744	(415,602)	1,608,639
				Net Cash Provided By Operating Activities	(89,280)	(26,208)	(11,339,465)

CASH FLOWS FROM INVESTING ACTIVITIES:
		(Increase) Decrease in fixed assets					(78,900)
		Increase (Decrease) in depreciation			6,436	7,107	73,233
		(Increase) Decrease in patents			(48,822)	(26,293)	(320,551)
				Net Cash Provided by Investing Activities	(42,385)	(19,186)	(326,218)

CASH FLOWS FROM FINANCING ACTIVITIES:
		Proceeds from issuance of stock			149,787	21,120	11,683,330
				Net Cash Provided by Financing Activities	149,787	21,120	11,683,330

	Net Increase in Cash				18,123	(24,274)	17,647

	Cash and cash equivalents, beginning of period				(476)	23,798	-

	Cash and cash equivalents, end of period				$ 17,647	$ (476)	$ 17,647

Novation Holdings Inc - FORM 8-K - EX-99.2 - PROFORMA-FINANCIAL STATEMENTS - February 28, 2011

Attached files

Novation Holdings Inc Reports