|
Monster, LLC and Subsidiaries
|
|||||||||||||
|
Pro-Forma Balance Sheet
|
|||||||||||||
|
Monster
|
Atlantic Acquisition
|
Pro-Forma
|
|||||||||||
|
Consolidated
|
Inc
|
Adjustments |
Consolidated
|
||||||||||
|
Assets
|
|
||||||||||||
|
Current assets:
|
|||||||||||||
|
Cash and cash equivalents
|
$
|
7,796,202
|
$
|
20,000
|
$
|
7,816,202
|
|||||||
|
Restricted cash
|
501,225
|
501,225
|
|||||||||||
|
Accounts receivable, net
|
34,327,644
|
34,327,644
|
|||||||||||
|
Accounts receivables, assigned
|
2,798,826
|
2,798,826
|
|||||||||||
|
Inventories, net
|
10,627,883
|
10,627,883
|
|||||||||||
|
Prepaid expenses & deposits
|
12,662,136
|
|
12,662,136
|
||||||||||
|
Total current assets
|
68,713,916
|
20,000
|
68,733,916
|
||||||||||
|
Property and equipment, net
|
1,769,970
|
1,769,970
|
|||||||||||
|
Trademarks, net
|
4,401,950
|
4,401,950
|
|||||||||||
|
Related party receivables
|
1,943,594
|
|
1,943,594
|
||||||||||
|
Total assets
|
$
|
76,829,430
|
$
|
20,000
|
|
$
|
76,849,430
|
||||||
|
Liabilities and Shareholders' Equity
|
|||||||||||||
|
Current liabilities:
|
|||||||||||||
|
Accounts payable
|
7,308,756
|
2,000
|
7,310,756
|
||||||||||
|
Accrued liabilities
|
70,377,587
|
70,377,587
|
|||||||||||
|
Factoring Payable
|
1,960,540
|
1,960,540
|
|||||||||||
|
Note payables to shareholders
|
64,964,680
|
52,332
|
|
65,017,012
|
|||||||||
|
Total current liabilities
|
144,611,563
|
54,332
|
144,665,895
|
||||||||||
|
Notes payable to shareholders, non-current
|
35,557,742
|
35,557,742
|
|||||||||||
|
Other liabilities
|
1,869,591
|
|
1,869,591
|
||||||||||
|
Total liabilities
|
182,038,896
|
54,332
|
182,093,228
|
||||||||||
|
Shareholders' equity:
|
|||||||||||||
|
Common stock; no par value
|
30,470
|
2,100
|
32,570
|
||||||||||
|
Additional paid in capital
|
73,610,704
|
19,900
|
73,630,604
|
||||||||||
|
Members equity
|
4,121,374
|
4,121,374
|
|||||||||||
|
Accumulated other comprehensive loss
|
(9,284,376
|
)
|
(9,284,376
|
)
|
|||||||||
|
Retained earnings at end
|
(173,687,638
|
)
|
(56,332
|
)
|
(173,743,970
|
)
|
|||||||
|
Total shareholders' equity
|
(105,209,466
|
)
|
(34,332 | ) |
|
(105,243,798
|
)
|
||||||
|
Total Liabilities and Shareholders' Equity
|
$
|
76,829,430
|
$
|
20,000
|
|
$
|
76,849,430
|
||||||
|
Monster, Inc. and Subsidiaries and
|
||||||||||||||||
|
Monster, LLC and Subsidiaries
|
||||||||||||||||
|
Pro-Forma Income Statement
|
||||||||||||||||
|
Monster
|
Atlantic
Acquisition
|
|
Pro-Forma
|
|||||||||||||
|
Consolidated
|
Inc
|
Adjustments |
Consolidated
|
|||||||||||||
|
Net Sales
|
57,486,610
|
- | - |
57,486,610
|
||||||||||||
|
Costs of Sales
|
35,761,909
|
- | - |
35,761,909
|
||||||||||||
|
Gross Profit
|
21,724,701
|
-
|
-
|
21,724,701
|
||||||||||||
|
Selling, general and administration expenses
|
44,197,523
|
9,750
|
- |
44,207,273
|
||||||||||||
|
Loss from operations
|
(22,472,822
|
)
|
(9,750
|
)
|
-
|
(22,482,572
|
)
|
|||||||||
|
Other income (expenses)
|
||||||||||||||||
|
Interest expense
|
(4,208,652
|
)
|
- | - |
(4,208,652
|
)
|
||||||||||
|
Gain (loss) from foreign currency transactions
|
1,053,481
|
- | - |
1,053,481
|
||||||||||||
|
Other, net
|
(1,022,569
|
)
|
- | - |
(1,022,569
|
)
|
||||||||||
|
Loss before income taxes
|
(26,650,562
|
)
|
(9,750
|
)
|
-
|
(26,660,312
|
)
|
|||||||||
|
Provision for income taxes
|
|
92,582
|
- | - |
92,582
|
|||||||||||
|
Net loss
|
(26,743,144
|
)
|
(9,750
|
)
|
-
|
(26,752,894
|
)
|
|||||||||
|
Other comprehensive loss, net of tax
|
||||||||||||||||
|
Foreign currency translation adjustments
|
(306,730
|
)
|
- | - |
(306,730
|
)
|
||||||||||
|
Comprehensive loss
|
(27,049,874
|
)
|
(9,750
|
)
|
-
|
(27,059,624
|
)
|
|||||||||