Enterologics, Inc. - FORM 8-K/A - EX-99.3 - UNAUDITED PRO FORMA PRO FORMA COMBINED FINANCIAL STATEMENTS

file	filename
8-K/A - FORM 8/KA - Enterologics, Inc.	elgo_8ka.htm
EX-99.1 - AUDITED CONSOLIDATED FINANCIAL STATEMENTS - Enterologics, Inc.	elgo_ex991.htm
EX-99.2 - UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS - Enterologics, Inc.	elgo_ex992.htm

EXHIBIT 99.3

ENTEROLOGICS, INC.

(A DEVELOPMENT STAGE COMPANY)

PROFORMA CONSOLIDATED BALANCE SHEETS

ASSETS

	Enterologics September 30,			BioBalance September 30,					Adjustments to			Combined September 30,
	2011			2011			Adj		Combine			2011
	(Unaudited)			(Unaudited)								(Unaudited)
CURRENT ASSETS

Cash	$	36,701										$	36,701
Investment in Bio Balance		550,000						A		(550,000	)		-
Prepaid expenses		-			4,247								4,247
													-
TOTAL CURRENT ASSETS		586,701			4,247					(550,000	)		40,948
													-
Website Costs, (net of Accumulated Amortization of $524 and -0- respectively)		2,621											2,621
													-
OTHER ASSETS													-
Goodwill		-						A		570,753			570,753
													-
TOTAL ASSETS	$	589,322		$	4,247					20,753			614,322
													-
LIABILITIES AND STOCKHOLDERS’ EQUITY / (DEFICIENCY)													-
													-
CURRENT LIABILITIES													-
Accounts payable	$	6,985		$	25,000								31,985
Accounts payable - related party		1,101											1,101
Accrued Interest		764											764
Notes payable		33,333											33,333
Notes payable - related party		50,000											50,000
Total Current Liabilities		92,183			25,000								117,183
													-
LONG TERM LIABILITIES													-
Notes payable		66,667											66,667
													-
TOTAL LIABILITIES		158,850			25,000								183,850
													-
													-
COMMITMENTS AND CONTINGENCIES		-											-
													-
													-
STOCKHOLDERS’ EQUITY / (DEFICIENCY)													-
Preferred Stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding		-											-
Common stock, $0.0001 par value, 150,000,000 shares authorized, 35,413,391 and 26,020,000 shares issued and outstanding, respectively	$	3,541		$	2,112			A		(2,112	)		3,541
Additional paid in capital		662,649			31,180,509			A		(31,180,509	)		662,649
Accumulated deficit - during developmental stage		(235,718	)		(31,203,374	)		A		31,203,374			(235,718	)
Total Stockholders’ Equity / (Deficiency)		430,472			(20,753	)				20,753			430,472
													-
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY / (DEFICIENCY)	$	589,322		$	4,247					20,753			614,322

Footnotes

A To adjust for intercompany balances

ENTEROLOGICS, INC.

(A DEVELOPMENT STAGE COMPANY)

PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)


	Enterologics For the Nine Months Ended			BioBalance For the Nine Months Ended			Adjustments to	Combined September 30,
	September 30 2011			September 30 2011			Combine	2011


OPERATING EXPENSES
Professional fees	$	42,099		$	12,139			$	54,238
Consulting fees					34,223				34,223
Research and Development		43,917			-				43,917
Compensation expense		6,000			-				6,000
General and administrative		36,678			233,623				270,301
Impairment Expense					847,798				847,798
Amortization Expense		524			-				524
Total Operating Expenses		129,218			1,127,783				1,257,001
									-
LOSS BEFORE PROVISION FOR INCOME TAXES		(129,218	)		(1,127,783	)			(1,257,001	)
									-
OTHER INCOME / (EXPENSES)									-
Interest income		-			569				569
Loan amortization expense- related party		(25,000	)						(25,000	)
Interest expense		(790	)		(77	)			(867	)
		(155,008	)		(1,127,291	)			(1,282,299	)
Provision for Income Taxes		-			342				342
									-
NET LOSS	$	(155,008	)		(1,127,633	)			(1,282,641	)
									-
Net loss per share - basic and diluted									(0.04	)

Weighted average number of shares outstanding during the period - basic and diluted									32,409,505

Enterologics, Inc. - FORM 8-K/A - EX-99.3 - UNAUDITED PRO FORMA PRO FORMA COMBINED FINANCIAL STATEMENTS - March 16, 2012