Attached files
file | filename |
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8-K - GEPCO, LTD. - Gepco, Ltd. | gepco_8k-120613.htm |
EX-99.1 - FINANCIAL STATEMENTS OF GEMVEST, LTD. - Gepco, Ltd. | gepco_8k-ex9901.htm |
EX-3.2 - BY-LAWS - Gepco, Ltd. | gepco_8k-ex0302.htm |
EX-3.1 - ARTICLES OF INCORPORATION - Gepco, Ltd. | gepco_8k-ex0301.htm |
EX-21.1 - SUBSIDIARIES - Gepco, Ltd. | gepco_8k-ex2101.htm |
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Gepco, Ltd. | gepco_8k-ex2301.htm |
Exhibit 99.2
Gepco, Ltd. and GemVest, Ltd.
Consolidated Pro Forma Balance Sheets
Historical | Adjustments Needed for Reverse Merger Business Combination | Pro Forma Consolidated (Unaudited) | ||||||||||||||||||||||||||
Gepco, Ltd. | (a) GemVest, Ltd. | |||||||||||||||||||||||||||
November 30, 2013 | November 30, 2013 | Reverse Gepco Equity | Reverse GemVest Shares | Issue 150,000,000 shares in acquisition | Total Adjustments | As Adjusted | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Total assets | - | - | - | - | - | - | - | |||||||||||||||||||||
LIABILITIES AND SHAREHOLDERS' DEFICIT | ||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | 25,283 | – | – | – | – | – | 25,283 | |||||||||||||||||||||
Convertible notes (net of discount of $126,542) | 66,156 | – | – | – | – | – | 66,156 | |||||||||||||||||||||
Advances payable | 1,261 | – | – | – | – | – | 1,261 | |||||||||||||||||||||
Notes payable to related parties - in default | 50,000 | – | – | – | – | – | 50,000 | |||||||||||||||||||||
Total liabilities | 142,700 | – | – | – | – | – | 142,700 | |||||||||||||||||||||
Stockholders' Equity (Deficit) | ||||||||||||||||||||||||||||
Common stock | 41,583 | 100 | (100 | ) | 150,000 | 149,900 | 191,583 | |||||||||||||||||||||
Paid in capital | 1,272,341 | (100 | ) | (1,456,624 | ) | 100 | (150,000 | ) | (1,606,524 | ) | (334,283 | ) | ||||||||||||||||
Other comprehensive income/(loss) | 27,045 | – | (27,045 | ) | – | – | (27,045 | ) | – | |||||||||||||||||||
Deficit accumulated during development stage | (1,483,669 | ) | – | 1,483,669 | – | – | 1,483,669 | – | ||||||||||||||||||||
Total shareholders' equity (deficit) | (142,700 | ) | – | – | – | – | – | (142,700 | ) | |||||||||||||||||||
Total liabilities and shareholders' equity (deficit) | $ | – | $ | – | – | – | – | $ | – | $ | – |
See accompanying notes to pro forma financial information.
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Gepco, Ltd. and GemVest, Ltd.
Consolidated Pro Forma Statements of Operations
Historical | Pro Forma Consolidated (Unaudited) | |||||||||||||||
Gepco, Ltd. November 30, 2013 | (a) GemVest, Ltd. November 30, 2013 | Adjustments | As Adjusted | |||||||||||||
Income | – | $ | – | $ | – | $ | – | |||||||||
Operating expenses | ||||||||||||||||
General and administrative | 16,744 | – | 16,744 | |||||||||||||
Legal and accounting | 114,797 | – | 114,797 | |||||||||||||
Total operating expenses | 131,541 | – | – | 131,541 | ||||||||||||
Income from operations | (131,541 | ) | – | – | (131,541 | ) | ||||||||||
Other income (expense) | (101,482 | ) | – | (101,482 | ) | |||||||||||
Total other income (expense) | (101,482 | ) | – | – | (101,482 | ) | ||||||||||
Net loss | $ | (233,023 | ) | $ | – | $ | – | $ | (233,023 | ) | ||||||
Net loss per share | $ | (0.01 | ) | $ | (0.00 | ) | ||||||||||
Weighted average shares outstanding | 33,953,524 | 150,000,000 | 183,953,524 |
See accompanying notes to pro forma financial information.
Notes to Pro Forma Financial Information
(a) On October 15, 2013, we entered into a Stock Purchase Agreement with GemVest, Ltd. which was consummated on December 6, 2013. The Unaudited Pro Forma Consolidated Financial Statements are based on the historical financial statements of GemVest, Ltd.
(b) We issued 150,000,000 shares of our common stock to GemVest, Ltd.
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