Almost Never Films Inc. - FORM 8-K - EX-99.3 - PRO FORMA FINANCIALS

Attached files

file	filename
8-K - Almost Never Films Inc.	asmack8k.htm
EX-3.4 - CERTIFICATE OF DESIGNATION - Almost Never Films Inc.	ex34certdesig.htm
EX-10.4 - BUSINESS PURCHASE AND SALE AGREEMENT - Almost Never Films Inc.	ex104bizpuragr.htm
EX-99.1 - AUDITED FINANCIAL STATEMENTS - Almost Never Films Inc.	ex991auditedfs.htm
EX-99.2 - REVIEWED FINANCIAL STATEMENTS - Almost Never Films Inc.	ex992reviewedfs.htm
EX-10.5 - STOCK INCENTIVE PLAN - Almost Never Films Inc.	ex105stkincplan.htm

Exhibit 99.3 - Pro Forma Financial Data

Following are the consolidated pro forma financial statements of Smack Sportswear and Team Sports Super Store, Inc. These consolidated pro forma statements and accompanying notes are considered integral to this SEC form 8K filing.

Smack Sportswear

Team Sports Super Store, Inc.

Unaudited Consolidated Pro Forma Balance Sheets

September 30, 2012

Unaudited Balance Sheets for the Periods as Indicated

		Team Sports Super Store, Inc.	Smack Sportswear
		September 30, 2012	September 30, 2012	Pro Forma Adjustments	Pro Forma Combined
ASSETS					(Unaudited)
Current Assets
	Cash and Cash Equivalents	2,902	(9)		2,893
	Loan to TSSS	-	27,200		27,200
	Accounts Receivable Net	58,637	-		58,637
	Employees Advances	300	-		300
	Inventory	480,654	-		480,654
	Due from Related Entity	6,790	-		6,790
	Total Current Assets	549,283	27,191		576,474

Other assets
	Deferred Tax Asset	-	-		-
	Security Deposits- Lease	10,000	-		10,000
	Total Other Assets	10,000	-		10,000
	Total Assets	559,283	27,191		586,474

LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities
	Accounts payable	180,168	14,573		194,741
	Accrued Expense-estimated payroll taxes	142,547	7,530		150,077
	Due to related party	-	5,968		5,968
	Sales Tax Payable	55,680	-		55,680
	Loans - Short Term	73,708	-		73,708
	Interest Payable	215	-		215
	Taxes Payable	37119	-		37,119
	Accrued Compensation	34,115	-		34,115
	Customer Deposits	19,394	-		19,394
	Total Current Liabilities	542,946	28,071		571,017

Long-Term Liabilities
	Loan-Long Term	9,000	-		9,000
	Total Long-Term Liabilities	9,000	-		9,000

Stockholders' Equity
	Preferred Stock	-	-		-
	Common Stock	40,000	40,000	(40,000)	40,000
	Additional Paid-In Capital	161,000	181,480		342,480
	(Deficit) Accumulated During Development Stage	(122,256)	(222,360)		(344,616)
	Total Stockholders' Equity (Deficit)	(71,406)	(880)		(72,286)
	Total Liabilities and Stockholders' Equity	559,283	27,191		586,474

F-1c

Smack Sportswear

Team Sports Super Store, Inc.

Unaudited Consolidated Pro Forma Statement of Operations

For year ended June 30, 2012

Unaudited Statement of Operations for the Periods as Indicated

		Team Sports Super Store, Inc.	Smack Sportswear
		For the three months ended September 30, 2012	For the three months ended September 30, 2012	Pro Forma Adjustments	Pro Forma Combined
					(Unaudited)

Revenue
	Whoesale Revenue	139,313	-		139,313
	Retail Revenue	3,860	-		3,860
	Shipping Revenue	3,133	-		3,133
	Sales Discounts	(15,315)	-		(15,315)
	Total Revenue	130,990	-		130,990

Cost of Goods Sold
	Cost of Goods Sold- Whole Sales	41,675	-		41,675
	Conversion Costs	21,671	-		21,671
	Total Costs of Goods Sold	63,346	-		63,346

Gross Profit		67,644	-

Operating Expenses
	Audit Fees	-	1,500		1,500
	General & Administrative Costs	96,032	8,327		104,359
	Professional Fees	43,018	-		43,018
	E-Commerce Development	-	-		-
	Total Operating Expenses	139,050	9,827		148,877

Net Income (Loss) before Income Taxes		(71,406)	(9,827)		(81,233)
Income tax provision (benefit)		-	-		-
Net Income (loss) after taxes		(71,406)	(9,827)		(81,233)

(Loss) earnings Per Common Share - Basic
	and Fully Diluted	0.00	0.00		0.00

Weighted Average Number of Common
	Shares Outstanding - Basic and Fully
	Diluted	39,000,000	40,000,000	(39,500,000)	39,500,000.00

F-2c

Smack Sportswear

Team Sports Super Store, Inc.

Unaudited Consolidated Pro Forma Balance Sheets

June 30, 2012

Unaudited Balance Sheets for the Periods as Indicated

		Team Sports Super Store, Inc.	Smack Sportswear
		June 30, 2012	June 30, 2012	Pro Forma Adjustments	Pro Forma Combined
ASSETS					(Unaudited)
Current Assets
	Cash and Cash Equivalents	11,333	100		11,433
	Loan to TSSS	-	9,000		9,000
	Accounts Receivable Net	36,172	-		36,172
	Employees Advances	300	-		300
	Inventory	468,627	-		468,627
	Due from Related Entity	19,235	-		19,235
	Total Current Assets	535,668	9,100		544,768

Other assets
	Deferred Tax Asset	-	-		-
	Security Deposits- Lease	10,000	-		10,000
	Total Other Assets	10,000	-		10,000
	Total Assets	545,668	9,100		554,768

LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities
	Accounts payable	140,106	13,073		153,179
	Accrued Expense-estimated payroll taxes	141,662	7,530		149,192
	Sales Tax Payable	50,460	-		50,460
	Loans - Short Term	36,508	-		36,508
	Interest Payable	215	-		215
	Taxes Payable	37,119	-		37,119
	Accrued Compensation	34,115	-		34,115
	Customer Deposits	17,740	-		17,740
	Total Current Liabilities	457,924	20,603		478,527

Long-Term Liabilities
	Loan-Long Term	9,000	-		9,000
	Total Long-Term Liabilities	9,000	-		9,000

Stockholders' Equity
	Preferred Stock	-	-		-
	Common Stock	40,000	40,000	(40,000)	40,000
	Additional Paid-In Capital	161,000	161,030		322,030
	(Deficit) Accumulated During Development Stage	(122,256)	(212,533)		(334,789)
	Total Stockholders' Equity (Deficit)	78,744	(11,503)		67,241
	Total Liabilities and Stockholders' Equity	545,668	9,100		554,768

F-3c

Smack Sportswear

Team Sports Super Store, Inc.

Unaudited Consolidated Pro Forma Statement of Operations

For year ended June 30, 2012

Unaudited Statement of Operations for the Periods as Indicated

		Team Sports Super Store, Inc.	Smack Sportswear
		For the year ended June 30, 2012	For the year ended June 30, 2012	Pro Forma Adjustments	Pro Forma Combined
					(Unaudited)

Revenue
	Whoesale Revenue	1,307,075	-		1,307,075
	Retail Revenue	29,710	-		29,710
	Shipping Revenue	35,574	-		35,574
	Sales Discounts	(87,448)	-		(87,448)
	Total Revenue	1,284,911	-		1,284,911

Cost of Goods Sold
	Cost of Goods Sold- Whole Sales	672,008	-		672,008
	Conversion Costs	144,137	-		144,137
	Total Costs of Goods Sold	816,145	-		816,145

Gross Profit		468,765	-

Operating Expenses
	Audit Fees	-	7,875		7,875
	General & Administrative Costs	527,141	650		527,791
	Professional Fees	178,012	-		178,012
	E-Commerce Development	88,558	-		88,558
	Total Operating Expenses	793,711	8,525		802,236

Net Income (Loss) before Income Taxes		(324,946)	(8,525)		(333,471)
Income tax provision (benefit)		(97,545)	-		(97,545)
Net Income (loss) after taxes		(227,401)	(8,525)		(235,926)

(Loss) earnings Per Common Share - Basic
	and Fully Diluted	(0.01)	0.00		(0.01)

Weighted Average Number of Common
	Shares Outstanding - Basic and Fully
	Diluted	39,000,000	40,000,000		79,000,000.00

F-4c

NOTE 1 – Purchase of Team Sports Superstore

On December 6, 2012, Smack Sportswear purchased Team Sports Superstore. This purchase does not involve the issuance of any new shares by Smack Sportswear. The majority owner of Team Sports Superstore is the majority shareholder and CEO of Smack Sportswear. He entered into a related party transaction whereby Smack Sportswear purchased Team Sports Superstore for one dollar.

F-5c

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