Attached files
MOJO INC.
(FKA SPECIALTY BEVERAGE AND SUPPLEMENT, INC.)
UNAUDITED CONDENSED COMBINED PRO FORMA BALANCE SHEET
MOJO | Specialty | |||||||||||||||||||||||
Shopping, Inc. | Beverage And | Adjusted | ||||||||||||||||||||||
(Reinstated) | Supplement, Inc. | Combined | Pro Forma | Pro Forma | ||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2010 | Totals | Adjustments | AJE | Totals | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Current Assets: | ||||||||||||||||||||||||
Cash and Cash Equivalents | $ | 369 | $ | 34,646 | $ | 35,015 | $ | — | $ | 35,015 | ||||||||||||||
Total Current Assets | 369 | 34,646 | 35,015 | — | 35,015 | |||||||||||||||||||
Property and Equipment, Net | — | 163,692 | 163,692 | — | 163,692 | |||||||||||||||||||
Other Assets - Rent Security | — | 10,000 | 10,000 | — | 10,000 | |||||||||||||||||||
Software, Net | 58 | — | 58 | — | 58 | |||||||||||||||||||
— | ||||||||||||||||||||||||
Total Assets | $ | 427 | $ | 208,338 | $ | 208,765 | $ | — | $ | 208,765 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||||||||||||||||||
Current Liabilities: | ||||||||||||||||||||||||
Accounts Payable and Accrued Expenses | $ | 185,909 | $ | 323,651 | $ | 509,560 | $ | — | $ | 509,560 | ||||||||||||||
Accrued Interest | — | 220,652 | 220,652 | — | 220,652 | |||||||||||||||||||
Notes Payable | — | 1,039,450 | 1,039,450 | — | 1,039,450 | |||||||||||||||||||
Due To Officer | 2,759 | — | 2,759 | — | 2,759 | |||||||||||||||||||
Total Current Liabilities | 188,668 | 1,583,753 | 1,772,421 | — | 1,772,421 | |||||||||||||||||||
— | ||||||||||||||||||||||||
Long-Term Liabilities | — | |||||||||||||||||||||||
Notes Payable Related Parties | — | 1,420,000 | 1,420,000 | — | 1,420,000 | |||||||||||||||||||
Total Long-Term Liabilities | — | 1,420,000 | 1,420,000 | — | 1,420,000 | |||||||||||||||||||
— | ||||||||||||||||||||||||
Total Liabilities | 188,668 | 3,003,753 | 3,192,421 | — | 3,192,421 | |||||||||||||||||||
Stockholders' Equity: | ||||||||||||||||||||||||
Preferred Stock | — | — | — | — | — | |||||||||||||||||||
Common Stock | 113,000 | 123,725 | 236,725 | (88,000 | ) | 2 | 50,000 | |||||||||||||||||
(123,725 | ) | 3 | ||||||||||||||||||||||
19,552 | 3 | |||||||||||||||||||||||
Additional paid-in capital | (81,400 | ) | — | (81,400 | ) | 88,000 | 2 | (114,516) | ||||||||||||||||
98,725 | 3 | |||||||||||||||||||||||
(219,841 | ) | 1 | ||||||||||||||||||||||
Accumulated Deficit | (219,841 | ) | (2,919,140 | ) | (3,138,981 | ) | 219,841 | 1 | (2,919,140) | |||||||||||||||
Total Stockholders' Equity (Deficit) | (188,241 | ) | (2,795,415 | ) | (2,983,656 | ) | (2,983,656) | |||||||||||||||||
Total Liabilities And Stockholders' Deficit | $ | 427 | $ | 208,338 | $ | 208,765 | $ | — | $ | 208,765 |
1. To eliminate accumulated deficit of MOJO Shopping Inc. to reflect reverse merger.
2. To record cancelation of 88,000,000 shares of common stock
3. To record issuance of 19,552,128 shares of common stock to acquire 100% of common shares of Specialty Beverage and Supplement, Inc.
MOJO INC.
(FKA SPECIALTY BEVERAGE AND SUPPLEMENT, INC)
UNAUDITED CONDENSED COMBINED PRO FORMA STATEMENT OF OPERATIONS
Specialty | ||||||||||||||||||||
MOJO | Beverage And | Adjusted | ||||||||||||||||||
Shopping, Inc. | Suplement, Inc. | Combined | Pro Forma | ProForma | ||||||||||||||||
As of December 31, | ||||||||||||||||||||
2010 | Totals | Adjustments | Totals | |||||||||||||||||
REVENUES | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Cost of Sales | — | — | — | — | — | |||||||||||||||
Gross Profit | — | — | — | — | — | |||||||||||||||
Operating Expenses | ||||||||||||||||||||
General and Administrative | 108,168 | 976,629 | 1,084,797 | — | 1,084,797 | |||||||||||||||
Depreciation and Amortization | 52 | — | 52 | — | 52 | |||||||||||||||
Total Operating Expenses | 108,220 | 976,629 | 1,084,849 | — | 1,084,849 | |||||||||||||||
Loss from Operations | (108,220 | ) | (976,629 | ) | (1,084,849 | ) | (1,084,849 | ) | ||||||||||||
Other Income (Expense): | ||||||||||||||||||||
Interest income | — | 20 | 20 | — | 20 | |||||||||||||||
Interest expense | — | (201,517 | ) | (201,517 | ) | — | (201,517 | ) | ||||||||||||
Total Other Income (Expense) | — | (201,497 | ) | (201,497 | ) | — | (201,497 | ) | ||||||||||||
Loss Before Provision for Income Taxes | (108,220 | ) | (1,178,126 | ) | (1,286,346 | ) | — | (1,286,346 | ) | |||||||||||
Provision of Income Taxes | — | — | — | — | — | |||||||||||||||
Net Loss | $ | (108,220 | ) | $ | (1,178,126 | ) | $ | (1,286,346 | ) | $ | — | $ | (1,286,346 | ) |
2 |
MOJO INC.
(FKA SPECIALTY BEVERAGE AND SUPPLEMENT, INC)
UNAUDITED CONDENSED COMBINED PRO FORMA STATEMENT OF STOCKEHOLDERS' EQUITY (DEFICIT)
Additional | ||||||||||||||||||||||||||||
Preferred Stock | Common Stock | Paid-In | Accumulated | |||||||||||||||||||||||||
Shares | Amount | Share | Amount | Capital | Deficit | Total | ||||||||||||||||||||||
Balance at December 31, 2010 | — | $ | — | 123,725,018 | $ | 123,725 | $ | — | $ | (1,741,014 | ) | $ | (1,617,289 | ) | ||||||||||||||
(Specialty Beverage and Supplement, Inc. Pre-Merger) | ||||||||||||||||||||||||||||
Balance at December 31, 2010 | — | — | 113,000,000 | 113,000 | (81,400 | ) | (219,841 | ) | (188,241 | ) | ||||||||||||||||||
(MOJO Shopping, Inc. Pre-Merger) | ||||||||||||||||||||||||||||
Elimination entries associated with merger | — | — | (113,000,000) | (186,725 | ) | (33,116 | ) | 219,841 | — | |||||||||||||||||||
Net (loss) for the year ended December 31, 2010 | — | — | — | — | — | (1,178,126 | ) | (1,178,126 | ) | |||||||||||||||||||
Balance, December 31, 2010 | $ | — | $ | — | $ | 123,725,018 | $ | 50,000 | $ | (114,516 | ) | $ | (2,919,140 | ) | $ | (2,983,656 | ) |