Bioquest Corp - FORM 8-K/A - EX-99.4 - PRO FORMA COMBINED BALANCE SHEET - April 29, 2015

Attached files

file filename
8-K/A - SELECT-TV SOLUTIONS, INC. - Bioquest Corpselecttv_8ka2.htm
EX-10.10 - CONSULTING AGREEMENT - VALESCURE CONSEILS - Bioquest Corpselecttv_8ka-ex1010.htm
EX-10.4 - LETTER OF INTENT - Bioquest Corpselecttv_8ka-ex1004.htm
EX-10.8 - CONSULTING AGREEMENT - MARCO VEILLEUX - Bioquest Corpselecttv_8ka-ex1008.htm
EX-10.7 - CONSULTING AGREEMENT - 4541481 CANADA - Bioquest Corpselecttv_8ka-ex1007.htm
EX-10.3 - SUB-LICENSE AGREEMENT - Bioquest Corpselecttv_8ka-ex1003.htm
EX-10.1 - LICENSE AGREEMENT - Bioquest Corpselecttv_8ka-ex1001.htm
EX-10.2 - LETTER EXTENDING LICENSE AGREEMENT - Bioquest Corpselecttv_8ka-ex1002.htm
EX-10.6 - CONSULTING AGREEMENT - WISE STEP - Bioquest Corpselecttv_8ka-ex1006.htm
EX-10.5 - TERMINATION AND FORBEARANCE AGREEMENT - Bioquest Corpselecttv_8ka-ex1005.htm
EX-10.9 - CONSULTING AGREEMENT - NADINE JUSSERAND - Bioquest Corpselecttv_8ka-ex1009.htm
EX-10.12 - CONSULTING AGREEMENT - ALLIN INVESTMENT - Bioquest Corpselecttv_8ka-ex1012.htm
EX-99.2 - Bioquest Corpselecttv_8ka-ex9902.htm
EX-99.3 - SELECT-TV SOLUTIONS, INC. - Bioquest Corpselecttv_8ka-ex9903.htm
EX-99.1 - Bioquest Corpselecttv_8ka-ex9901.htm
EX-10.15 - HOTEL DEPLOYMENT PARTNERSHIP AGREEMENT - Bioquest Corpselecttv_8ka-ex1015.htm
EX-10.11 - CONSULTING AGREEMENT - JEAN-MARC FERRERI - Bioquest Corpselecttv_8ka-ex1011.htm
EX-10.14 - CONSULTANT AGREEMENT - ELITE MANAGEMENT - Bioquest Corpselecttv_8ka-ex1014.htm
EX-10.13 - CONSULTING AGREEMENT - IMPERA PATRIMONIE - Bioquest Corpselecttv_8ka-ex1013.htm

Exhibit 99.4

 

Pro Forma Combined Balance Sheet

July 31, 2014

(Unaudited)

 

 

   Historical            
   Select-TV   Select-TV   Pro Forma        
   Solutions, Inc.   Solutions (USA), Inc.   Adjustments   Ref  Combined 
ASSETS                   
                    
Current assets                       
Cash and cash equivalents  $848,000   $912           $848,912 
Accounts receivable   –    2,272            2,272 
Other receivables   –    57,755            57,755 
Due from related parties   1,017,400    –    (1,017,400)  (1)   – 
Prepaid expenses   31,067    100,000            131,067 
Inventory   –    265,145            265,145 
Total current assets   1,896,467    426,084    (1,017,400)      1,305,151 
                        
Equipment, net   –    25,537            25,537 
                        
Licenses, net   –    83,283            83,283 
                        
Goodwill   –    –    3,308,268   (2)   3,308,268 
                        
Total assets  $1,896,467   $534,904   $2,290,868      $4,722,239 
                        
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                  
                        
Current liabilities                       
Accounts payable  $–   $133,780           $133,780 
Accrued liabilities   25,000    11,442            36,442 
Loans payable   –    136,335            136,335 
Total current liabilities   25,000    281,557    –       306,557 
                        
Due to Select-TV   –    717,400    (717,400)  (1)   – 
Total liabilities   25,000    998,957    (717,400)      306,557 
                        
Stockholders' equity (deficit)                       
Common stock   62,134    39,743    9,936   (2)   111,813 
Paid-in-capital   757,386    2,221,970    709,058   (2)   3,688,414 
Common stock issuable   2,945,737    –    (300,000)  (1)   2,645,737 
Deferred issuance costs   (252,237)   –            (252,237)
Accumulated other comprehensive gain   –    1,734            1,734 
Accumulated deficit   (1,641,553)   (2,727,500)   2,589,274   (2)   (1,779,779)
Total stockholders' equity (deficit)   1,871,467    (464,053)   3,008,268       4,415,682 
                        
Total liabilities and stockholders' equity (deficit)  $1,896,467   $534,904   $2,290,868      $4,722,239 

 

 

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Select-TV Solutions, Inc.

Pro Forma Condensed Combined Statement of Operations

For the three months ended July 31, 2014

(Unaudited)

                       

 

   Historical            
   Select-TV   Select-TV   Pro Forma        
   Solutions, Inc.   Solutions (USA), Inc.   Adjustments   Ref  Combined 
Revenue  $–   $–           $– 
                        
Operating expenses   1,143,064    138,226            1,281,290 
                        
Loss from operations   (1,143,064)   (138,226)   –       (1,281,290)
                        
Other income (expense)   –    –            – 
                        
Income before taxes   (1,143,064)   (138,226)   –       (1,281,290)
                        
Provision for income taxes   –    –            – 
                        
Net loss  $(1,143,064)  $(138,226)  $–      $(1,281,290)
                        
Net loss per share - basic and diluted  $(0.02)  $(0.00)          $(0.01)
                        
Weighted average number of shares                       
outstanding - basic and diluted   56,568,783    39,742,754    9,935,689   (3)   106,247,226 

 

The accompanying unaudited pro-forma financial information reflects the financial statements of Select-TV Solutions, Inc. and Select-TV Solutions (USA), Inc. The pro-forma adjustments to the balance sheet and statement of operations give effect to the merger as if it occurred on May 1, 2014.

 

Specific pro forma adjustments are:

 

(1)The elimination of intercompany balances between the entities of $1,017,400 as of April 30, 2014.
(2)To record the issuance of 49,678,443 shares of Select-TV Solutions, Inc. common stock at a value of $2,980,707 and the cancellation of 39,742,754 shares of Select-TV Solutions (USA), Inc. common stock. Goodwill is calculated as $2,980,707 of consideration given in the merger plus net liabilities acquired of $327,561.
(3)To reflect the issuance of the 49,678,443 shares issued in the merger and outstanding during the period, less the cancellation of 34,742,754 average shares outstanding of Select-TV Solutions (USA), Inc.

 

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Bioquest Corp Reports