Attached files
| file | filename |
|---|---|
| 10-K - MAINBODY - EWaste Systems, Inc. | mainbody.htm |
| EX-31.2 - EX312 - EWaste Systems, Inc. | ex312.htm |
| EX-32.1 - EX321 - EWaste Systems, Inc. | ex321.htm |
| EX-32.2 - EX322 - EWaste Systems, Inc. | ex322.htm |
| EX-31.1 - EX311 - EWaste Systems, Inc. | ex311.htm |
Exhibit 99.1
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E-WASTE SYSTEMS, INC.
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Pro Forma Consolidated Balance Sheets
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ASSETS
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December 31,
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December 31,
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2011
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2010
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|||||||
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(Unaudited)
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(Unaudited)
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CURRENT ASSETS
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Cash
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$ | 6,493 | $ | 621 | ||||
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Inventory
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17,000 | - | ||||||
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Total Current Assets
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23,493 | 621 | ||||||
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PROPERTY AND EQUIPMENT, net
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9,865 | 10,091 | ||||||
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OTHER ASSETS
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Deposits
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4,405 | 2,500 | ||||||
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Vendor relationships
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- | - | ||||||
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Goodwill
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- | - | ||||||
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Total Other Assets
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4,405 | 2,500 | ||||||
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TOTAL ASSETS
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$ | 37,763 | $ | 13,212 | ||||
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LIABILITIES AND STOCKHOLDERS' DEFICIT
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CURRENT LIABILITIES
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Accounts payable and accrued expenses
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$ | 190,248 | $ | 25,146 | ||||
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Accrued expenses-related parties
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530,308 | - | ||||||
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Accrued interest
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13,845 | 1,039 | ||||||
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Derivative liability
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7,371 | - | ||||||
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Convertible notes payable
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85,500 | - | ||||||
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Note payable related party
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50,240 | 13,877 | ||||||
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Contingent consideration
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292,000 | 292,000 | ||||||
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Total Current Liabilities
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1,169,512 | 332,062 | ||||||
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LONG-TERM LIABILITIES
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Deferred tax
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- | - | ||||||
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Total Long-Term Liabilities
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- | - | ||||||
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STOCKHOLDERS' DEFICIT
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Preferred stock, 10,000,000 shares authorized
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at par value of $0.001, 400 shares issued
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and outstanding
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0 | - | ||||||
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Common stock, 190,000,000 shares authorized
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at par value of $0.001, 100,764,624
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shares issued and outstanding, respectively
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100,765 | 100,200 | ||||||
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Additional paid-in capital
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222,456 | (22,681 | ) | |||||
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Accumulated deficit
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(1,454,971 | ) | (396,369 | ) | ||||
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Total Stockholders' Deficit
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(1,131,749 | ) | (318,850 | ) | ||||
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TOTAL LIABILITIES AND
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STOCKHOLDERS' DEFICIT
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$ | 37,763 | $ | 13,212 | ||||
- 1 -
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E-WASTE SYSTEMS, INC.
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Pro Forma Consolidated Statements of Operations
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(Unaudited)
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For the 12 Months Ended
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December 31
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2011
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2010
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REVENUES
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$ | 575,972 | $ | 1,900 | ||||
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COST OF SALES
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368,784 | 2,519 | ||||||
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GROSS MARGIN
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207,188 | (619 | ) | |||||
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OPERATING EXPENSES
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Directors' and officers' accrued compensation
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499,417 | - | ||||||
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Consultants' fees
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11,540 | - | ||||||
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Professional fees
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524,221 | - | ||||||
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General and administrative
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188,808 | 63,223 | ||||||
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Depreciation
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2,526 | 484 | ||||||
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Impairment expense
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367,973 | 319,044 | ||||||
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Total Operating Expenses
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1,594,485 | 382,751 | ||||||
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LOSS FROM OPERATIONS
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(1,387,297 | ) | (383,370 | ) | ||||
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OTHER EXPENSES
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Interest expense
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(39,709 | ) | (930 | ) | ||||
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Gain on derivative liability
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19,533 | - | ||||||
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Total Other Income/(Expenses)
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(20,176 | ) | (930 | ) | ||||
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LOSS BEFORE INCOME TAXES
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(1,407,473 | ) | (384,300 | ) | ||||
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PROVISION FOR INCOME TAXES
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- | - | ||||||
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NET LOSS
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$ | (1,407,473 | ) | $ | (384,300 | ) | ||
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BASIC AND DILUTED LOSS PER SHARE
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$ | (0.01 | ) | $ | (0.05 | ) | ||
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WEIGHTED AVERAGE NUMBER
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OF SHARES OUTSTANDING
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100,283,303 | 7,457,534 | ||||||
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