Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8-K/A - Mountain High Acquisitions Corp. | myhi1022form8ka.htm |
Pro Forma Financial Statements Dated 3/31/2018
The unaudited pro forma consolidated balance sheet and statement of operations reflects amounts as if the transaction had occurred on March 31, 2018. As a result of this transaction, One Lab Co, Inc . a Nevada corporation became a wholly owned subsidiary of Mountain High Acquisitions Corp. A Colorado corporation.
The information presented in the unaudited pro forma combined financial statements does not purport to represent what the financial position or results of operations would have been had the transaction occurred as of March 31, 2018, nor is it indicative of future financial position or results of operations. You should not rely on this information as being indicative of the historical results that would have been achieved had the companies always been combined, or the future result that the combined company will experience after the transaction is consummated.
The pro forma adjustments are based upon available information and certain assumptions that the Company believes is reasonable under the circumstances.
| MOUNTAIN HIGH ACQUISITIONS CORP. | |||||||||||||||||
| PRO FORMA CONSOLIDATED BALANCE SHEETS | |||||||||||||||||
| MARCH 31, 2018 | |||||||||||||||||
| ONE LAB CO | Audited | ||||||||||||||||
| Year | MYHI | Pro Forma | |||||||||||||||
| Ended 3/31 | March 31 | Pro Forma | March 31 | ||||||||||||||
| 2018 | 2018 | Adjustments | 2018 | ||||||||||||||
| ASSETS | |||||||||||||||||
| CURRENT ASSETS | |||||||||||||||||
| Cash and cash equivalents | $ | 0 | $ | 109,464 | $ | 109,464 | |||||||||||
| Accounts Receivable | 0 | 150,000 | 150,000 | ||||||||||||||
| Other receivables | 0 | 22,294 | 22,294 | ||||||||||||||
| TOTAL CURRENT ASSETS | 0 | 281,758 | 281,758 | ||||||||||||||
| OTHER ASSETS | 5,588,000 | a | 5,588,000 | ||||||||||||||
| FIXED ASSETS | 170,000 | 170,000 | |||||||||||||||
| TOTAL ASSETS | $ | 0 | $ | 451,758 | $ | 6,039,758 | |||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | |||||||||||||||||
| CURRENT LIABILITIES | |||||||||||||||||
| Accounts payable | $ | 0 | $ | 11,009 | $ | 11,009 | |||||||||||
| Notes payable | 362,361 | 362,361 | |||||||||||||||
| Accrued liabilities | 12,500 | 12,500 | |||||||||||||||
| Advances from related parties | 0 | 138,945 | 138,945 | ||||||||||||||
| TOTAL CURRENT LIABILITIES | $ | 0 | $ | 524,815 | $ | 524,815 | |||||||||||
| COMMITMENTS AND CONTINGENCIES | — | — | |||||||||||||||
| STOCKHOLDERS' EQUITY (DEFICIT): | |||||||||||||||||
| Preferred stock, $0.0001 par value; 250,000,000 shares authorized, | |||||||||||||||||
| 100,000 shares issued and outstanding | 10 | 10 | |||||||||||||||
| Common stock, $0.0001 par value; 500,000,000 shares authorized, | . | ||||||||||||||||
| 96,208,582 shares issued and outstanding | 9,621 | 8,800 | a | 18,421 | |||||||||||||
| Additional paid in capital | 0 | 9,607,834 | 5,579,200 | a | 15,187,034 | ||||||||||||
| Accumulated (deficit) | 0 | (9,690,522 | ) | (9,690,522 | ) | ||||||||||||
| TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | 0 | (73,057 | ) | 5,514,943 | |||||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ | 0 | $ | 451,758 | $ | 6,039,758 | |||||||||||
| a. To reflect the issuance of 88,000,000 shares per the exchange agreement at market value of $0.0635 | |||||||||||||||||
| MOUNTAIN HIGH ACQUISITIONS CORP. | ||||||||||||
| PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS | ||||||||||||
| FOR THE YEAR ENDED MARCH 31, 2018 | ||||||||||||
| MYHI | ONE LAB CO | MYHI PRO | ||||||||||
| AUDITED | FORMA | |||||||||||
| Year Ended March 31, 2018 | Year Ended March 31, 2018 | Year Ended March 31, 2018 | ||||||||||
| Revenue | $ | 150,000 | $ | $ | 150,000 | |||||||
| Cost of revenue | — | |||||||||||
| Gross profit | 150,000 | 150,000 | ||||||||||
| Selling, general and administrative expenses | 814,102 | — | 814,102 | |||||||||
| (Loss) from operations | (664,102 | ) | — | (664,102 | ) | |||||||
| Other income (expense) | (2,687,621 | ) | (2,687,621 | ) | ||||||||
| Net (loss) | $ | (3,351,723 | ) | $ | — | $ | (3,351,723 | ) | ||||
| Weighted average shares outstanding - basic and diluted | 76,569,111 | — | 76,569,111 | |||||||||
| (Loss) per shares - basic and diluted | $ | (0.04 | ) | $ | $ | (0.04 | ) | |||||