Attached files
| file | filename |
|---|---|
| 8-K/A - AMENDMENT TO CURRENT REPORT ON FORM 8-K - PREMIER HOLDING CORP. | premier_8ka.htm |
| EX-99.2 - FINANCIAL STATEMENTS (SEPTEMBER 30, 2014 AND 2013) - PREMIER HOLDING CORP. | premier_8ka-ex9902.htm |
| EX-99.1 - FINANCIAL STATEMENTS (DECEMBER 31, 2013 AND 2012) - PREMIER HOLDING CORP. | premier_8ka-ex9901.htm |
Exhibit 99.3
PREMIER HOLDING CORPORTATION
Consolidated Balance Sheets
(Unaudited)
| September 30, | September 30, | September 30, | |||||||||||||||
| 2014 | 2014 | 2014 | |||||||||||||||
| Assets | PRHL | LPL | Adjustments | Pro Forma | |||||||||||||
| Current Assets | |||||||||||||||||
| Cash | $ | 578,039 | $ | 193,098 | $ | – | $ | 771,137 | |||||||||
| Accounts receivable | 513,665 | 852,550 | – | 1,366,215 | |||||||||||||
| Accrued Revenue | – | 636,405 | – | 636,405 | |||||||||||||
| Inventory | – | 49,598 | – | 49,598 | |||||||||||||
| Collateral Postings | – | 265,900 | – | 265,900 | |||||||||||||
| Prepaid expenses | 12,524 | – | – | 12,524 | |||||||||||||
| Total Current Assets | 1,104,228 | 1,997,551 | – | 3,101,779 | |||||||||||||
| Other Assets | |||||||||||||||||
| Notes receivable | – | – | – | – | |||||||||||||
| Equipment, Net | 23,545 | 35,341 | – | 58,886 | |||||||||||||
| Goodwill | 4,555,750 | – | – | 4,555,750 | |||||||||||||
| Intangible assets, net | 149,905 | – | – | 149,905 | |||||||||||||
| Collateral Deposit | – | 200,000 | – | 200,000 | |||||||||||||
| Total Assets | $ | 5,833,428 | $ | 2,232,892 | $ | – | $ | 8,066,320 | |||||||||
| Liabilities and Stockholders’ Equity | |||||||||||||||||
| Current Liabilities: | |||||||||||||||||
| Accounts payable and accrued liabilities | $ | 352,624 | $ | 849,535 | $ | – | $ | 1,202,159 | |||||||||
| Related party payable | 149,620 | – | – | 149,620 | |||||||||||||
| Deferred Supply Payable | – | 704,679 | – | 704,679 | |||||||||||||
| Convertible note, net | 386,000 | – | – | 386,000 | |||||||||||||
| Notes payable | 20,000 | 977,903 | 500,000 | 1,497,903 | (1a) | ||||||||||||
| Notes payable, related parties | ` | 152,379 | – | 152,379 | |||||||||||||
| Taxes payable | ` | – | – | – | |||||||||||||
| Total Current Liabilities | 908,244 | 2,684,496 | 500,000 | 4,092,741 | |||||||||||||
| Long-Term Liabilities: | |||||||||||||||||
| Long-term debt | – | 200,000 | – | 200,000 | |||||||||||||
| Total Liabilities | 908,244 | 2,884,496 | 500,000 | 4,292,741 | |||||||||||||
| Commitments and Contingencies | |||||||||||||||||
| Lawsuit liability | 86,000 | – | – | 86,000 | |||||||||||||
| Stockholders’ Equity: | |||||||||||||||||
| Preferred Stock, 50,000,000 shares authorized, par value $.0001, 200,000, and null share issued or outstanding, respectively | 20 | – | – | 20 | |||||||||||||
| Common Stock, 450,000,000 shares authorized, par value $.0001, 157,319,610and 151,003,328 shares issued and outstanding, respectively | 15,732 | – | 16,482 | (1b),(2) | |||||||||||||
| Common stock to be issued | 256,958 | – | – | 256,958 | |||||||||||||
| Treasury stock | (869,000 | ) | – | – | (869,000 | ) | |||||||||||
| Additional paid in capital | 21,346,247 | – | (750 | ) | 21,345,497 | (2) | |||||||||||
| Accumulated deficit | (15,633,976 | ) | (651,604 | ) | (500,000 | ) | (16,785,580 | ) | |||||||||
| Total Premier Holding Corporation stockholders’ equity | 5,115,981 | (651,604 | ) | (500,000 | ) | 3,964,377 | |||||||||||
| Non-controlling interest | (276,797 | ) | – | – | (276,797 | ) | |||||||||||
| Total Stockholders’ Equity | 4,839,184 | (651,604 | ) | (500,000 | ) | 3,687,579 | |||||||||||
| Total Liabilities and Stockholders’ Equity | $ | 5,833,428 | $ | 2,232,892 | $ | – | $ | 8,066,320 | |||||||||
Notes
| (1) | Premier acquired 85% of LP&L for a) the issuance of $500,000 in Promissory Notes and b) 7,500,000 shares of common stock |
| (2) | The 7,500,000 sharesof Premier issued are in exchanged for 85% of the shares of LPL, this pro forma assumes full consolidation of LPL's financial activities |
| 1 |
PREMIER HOLDING CORPORATION
Consolidated Statements of Operations
(Unaudited)
| Nine months ended | Nine months ended | Nine months ended | Nine months ended | Nine months ended | Nine months ended | |||||||||||||||||||
| September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||
| 2014 | 2014 | Adjust- | 2014 | 2013 | 2013 | Adjust- | 2013 | |||||||||||||||||
| PRHL | LPL | ments | Pro Forma | PRHL | LPL | ments | Pro Forma | |||||||||||||||||
| Revenue | ||||||||||||||||||||||||
| TPC Commission Revenue | $ | 2,223,789 | $ | – | $ | – | $ | 2,223,789 | $ | 1,437,746 | $ | – | $ | – | $ | 1,437,746 | ||||||||
| Lighting Product Selling Revenue | 59,420 | – | – | 59,420 | – | – | – | – | ||||||||||||||||
| LPL Sales | – | 8,634,731 | – | 8,634,731 | – | 7,140,120 | – | 7,140,120 | ||||||||||||||||
| Total Revenue | 2,283,209 | 8,634,731 | – | 10,917,940 | 1,437,746 | 7,140,120 | – | 8,577,866 | ||||||||||||||||
| Cost of Sales | 69,389 | 6,548,083 | – | 6,617,472 | 33,786 | 5,887,324 | – | 5,921,110 | ||||||||||||||||
| – | – | – | – | |||||||||||||||||||||
| Gross Profit | 2,213,820 | 2,086,648 | – | 4,300,468 | 1,403,960 | 1,252,796 | – | 2,656,756 | ||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||
| Selling, general and administrative | 4,681,150 | 1,249,229 | – | 5,930,379 | 4,934,351 | 1,286,122 | – | 6,220,473 | ||||||||||||||||
| Total operating expenses | 4,681,150 | 1,249,229 | – | 5,930,379 | 4,934,351 | 1,286,122 | – | 6,220,473 | ||||||||||||||||
| Loss from operations | (2,467,330 | ) | 837,419 | – | (1,629,911 | ) | (3,530,391 | ) | (33,326 | ) | – | (3,563,717 | ) | |||||||||||
| Other income (expenses): | ||||||||||||||||||||||||
| Interest expense | (7,202 | ) | (290,318 | ) | – | (297,520 | ) | – | (196,294 | ) | – | (196,294 | ) | |||||||||||
| Loss on settlement of lawsuit | (110,000 | ) | – | – | (110,000 | ) | – | – | – | – | ||||||||||||||
| Other income (expense) | – | 49,706 | – | 49,706 | – | (2,336 | ) | – | (2,336 | ) | ||||||||||||||
| Total non-operating expenses | (117,202 | ) | (240,612 | ) | – | (357,814 | ) | – | (198,630 | ) | – | (198,630 | ) | |||||||||||
| Loss from operations before income taxes, non-controlling interest, and discontinued operations | (2,584,533 | ) | 596,807 | – | (1,987,726 | ) | (3,530,391 | ) | (231,956 | ) | – | (3,762,347 | ) | |||||||||||
| Income taxes | – | – | – | – | – | – | – | |||||||||||||||||
| Loss before non-controlling interest and discontinued operations | (2,584,533 | ) | 596,807 | – | (1,987,726 | ) | (3,530,391 | ) | (231,956 | ) | – | (3,762,347 | ) | |||||||||||
| Net Loss attributable to non-controlling interest | 97,441 | – | – | 97,441 | 123,011 | – | – | 123,011 | ||||||||||||||||
| Income/ Loss from discontinued operations | – | – | – | – | 985,138 | – | – | 985,138 | ||||||||||||||||
| Net Profit (Loss) attributable to Premier Holding Corporation | $ | (2,487,091 | ) | $ | 596,807 | $ | (89,521 | ) | $ | (1,979,805 | ) | $ | (2,422,241 | ) | $ | (231,956 | ) | $ | 34,793 | $ | (2,619,405 | ) | ||
| Net loss from continuing operations | (2,487,091 | ) | 596,807 | (89,521 | ) | (1,979,805 | ) | (3,407,379 | ) | (231,956 | ) | 34,793 | (3,604,543 | ) | ||||||||||
| Net income (Loss) per common share — basic and diluted | $ | 0.02 | $ | 0.02 | ||||||||||||||||||||
| Net income (Loss) attributable to Premier Holding Corporation per share - basic and diluted | $ | 0.02 | $ | 0.02 | ||||||||||||||||||||
| Net income from discontinued operations | – | – | ||||||||||||||||||||||
| Net income (Loss) per common share from discontinued operations — basic and diluted | – | – | ||||||||||||||||||||||
| Weighted average common shares – basic and diluted | 146,423,036 | 103,449,884 | ||||||||||||||||||||||