Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - EXP World Holdings, Inc. | form8k.htm |
| EX-10.4 - EXHIBIT 10.4 - EXP World Holdings, Inc. | exhibit10-4.htm |
| EX-10.3 - EXHIBIT 10.3 - EXP World Holdings, Inc. | exhibit10-3.htm |
| EX-21.1 - EXHIBIT 21.1 - EXP World Holdings, Inc. | exhibit21-1.htm |
| EX-10.5 - EXHIBIT 10.5 - EXP World Holdings, Inc. | exhibit10-5.htm |
| EX-99.1 - EXHIBIT 99.1 - EXP World Holdings, Inc. | exhibit99-1.htm |
| EX-99.2 - EXHIBIT 99.2 - EXP World Holdings, Inc. | exhibit99-2.htm |
EXP REALTY INTERNATIONAL CORPORATION AND EXP INTERNATIONAL
INC.
UNAUDITED PROFORMA CONDENSED CONSOLIDATED BALANCE SHEETS
| eXp Realty | eXp Realty | |||||||||||
| International | International, | |||||||||||
| Corporation | Inc. | |||||||||||
| As of | As of | Company | ||||||||||
| June 30, | June 30, | Proforma | Proforma | |||||||||
| 2013 | 2013 | Adjustments | Combined | |||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS | ||||||||||||
| Cash and cash equivalents | $ | 40,554 | $ | 279,601 | $ | - | $ | 320,155 | ||||
| Restricted cash | - | 109,092 | - | 109,092 | ||||||||
| Accounts receivable, net | - | 41,045 | - | 41,045 | ||||||||
| Accounts receivable, related party | - | 7,647 | - | 7,647 | ||||||||
| Prepaids and other assets | 96 | 17,092 | - | 17,188 | ||||||||
| TOTAL CURRENT ASSETS | 40,650 | 454,477 | - | 495,127 | ||||||||
| OTHER ASSETS | ||||||||||||
| Fixed assets, net | - | 8,658 | - | 8,658 | ||||||||
| TOTAL OTHER ASSETS | - | 8,658 | - | 8,658 | ||||||||
| TOTAL ASSETS | $ | 40,650 | $ | 463,135 | $ | - | $ | 503,785 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY / (DEFICIT) | ||||||||||||
| CURRENT LIABILITIES | ||||||||||||
| Accounts payable | $ | 23,185 | $ | 23,193 | $ | - | $ | 46,378 | ||||
| Customer deposits | - | 109,092 | - | 109,092 | ||||||||
| Accrued expenses | - | 164,227 | - | 164,227 | ||||||||
| Due to related parties | 20,577 | - | - | 20,577 | ||||||||
| Accrued interest | - | 6,609 | - | 6,609 | ||||||||
| TOTAL CURRENT LIABILITIES | 43,762 | 303,121 | - | 346,883 | ||||||||
| LONG TERM LIABILITIES | ||||||||||||
| Notes payable | - | 61,887 | - | 61,887 | ||||||||
| TOTAL LIABILITIES | 43,762 | 365,008 | - | 408,770 | ||||||||
| Commitments and Contingencies | - | - | - | - | ||||||||
| STOCKHOLDERS' EQUITY / (DEFICIT) | ||||||||||||
| Common stock | 401 | 567,412 | (567,328 | )[1] | 485 | |||||||
| Additional paid-in capital | 220,670 | - | 567,328 [1] | 787,998 | ||||||||
| Accumulated deficit | (224,183 | ) | (469,285 | ) | - | (693,468 | ) | |||||
| TOTAL EQUITY / (DEFICIT) | (3,112 | ) | 98,127 | - | 95,015 | |||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY / (DEFICIT) | $ | 40,650 | $ | 463,135 | $ | - | $ | 503,785 |
[1] - Proforma adjustments take into consideration the cancellation of eXp Internatinal Inc.'s issued and outstanding shares, surrender and cancellation of certain shares owned by the President, in addition to the forward stock split as if all have occurred as of June 30, 2013.
EXP REALTY INTERNATIONAL CORPORATION AND EXP INTERNATIONAL
INC.
UNAUDITED PROFORMA CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
| eXp Realty | ||||||||||||
| International | eXp Realty | |||||||||||
| Corporation | International, Inc. | Company | ||||||||||
| For the year ended | For the year ended | Proforma | Proforma | |||||||||
| June 30, 2013 | June 30, 2013 | Adjustments | Combined | |||||||||
| Net revenues | $ | - | $ | 8,694,946 | $ | - | $ | 8,694,946 | ||||
| Operating costs and expenses | ||||||||||||
| Cost of revenues | - | 7,209,541 | - | 7,209,541 | ||||||||
| Sales and marketing | - | 96,137 | - | 96,137 | ||||||||
| General and administrative | 9,689 | 1,452,007 | - | 1,461,696 | ||||||||
| Professional fees | 61,120 | 190,766 | - | 251,886 | ||||||||
| Depreciation | - | 4,973 | - | 4,973 | ||||||||
| Total expenses | 70,809 | 8,953,424 | - | 9,024,233 | ||||||||
| Net income / (loss) from operations | (70,809 | ) | (258,478 | ) | - | (329,287 | ) | |||||
| Other expenses | ||||||||||||
| Interest expense | - | 2,048 | - | 2,048 | ||||||||
| Total other expenses | - | 2,048 | - | 2,048 | ||||||||
| Income / (loss) before income tax expens | (70,809 | ) | (260,526 | ) | - | (331,335 | ) | |||||
| Income tax expense | - | 19,659 | - | 19,659 | ||||||||
| Net income / (loss) | $ | (70,809 | ) | $ | (280,185 | ) | $ | - | $ | (350,994 | ) |