Exhibit 99.2
The following pro forma financial information has been prepared as if the Merger between RestorGenex and the Company occurred on March 31, 2014 for the Pro Forma Statement of Income for the Three Months Ended March 31, 2014.
The information in these pro forma financials for the Company has been derived from the unaudited financial statements for the three months ended March 31, 2014. The information in these pro forma financials for RestorGenex has been derived from the unaudited financial statements for the three months ended March 31, 2014.Need to make sure the numbers tie to current financials.
RestorGenex Corporation and Paloma Pharmaceuticals, Inc.
Pro Forma Income Statements
For the Three Months Ended March 31, 2014
| | Three Months Ended March 31, 2014 (a) | |
| | | | | | | | | | | Pro Forma | | | Pro Forma | |
| | RestorGenex | | | Paloma | | | VasculoMedics | | | Adjustments | | | Combined | |
| | | | | | | | | | | | | | | | | | | | |
Revenues | | $ | – | | | | – | | | $ | – | | | $ | – | | | $ | – | |
Cost of revenues | | | – | | | | – | | | | – | | | | – | | | | – | |
Gross profit | | | – | | | | – | | | | – | | | | – | | | | – | |
| | | | | | | | | | | | | | | | | | | | |
Operating expenses | | | | | | | | | | | | | | | | | | | | |
General, administrative, research and development | | | 611,845 | | | | 102,153 | | | | – | | | | 81,250 | (b) | | | 795,248 | |
Warrants, options and stock | | | 149,885 | | | | | | | | – | | | | – | | | | 149,885 | |
Legal and professional services | | | 131,686 | | | | 1,725 | | | | – | | | | – | | | | 133,411 | |
Depreciation and amortization | | | 478,104 | | | | 634 | | | | – | | | | 27,755 | (c) | | | 506,493 | |
Total operating expenses | | | 1,371,520 | | | | 104,512 | | | | – | | | | 109,005 | | | | 1,585,037 | |
| | | | | | | | | | | | | | | | | | | | |
Loss from operations | | | (1,371,520 | ) | | | (104,512 | ) | | | – | | | | (109,005 | ) | | | (1,585,037 | ) |
| | | | | | | | | | | | | | | | | | | | |
Other (income)/expenses | | | | | | | | | | | | | | | | | | | | |
Other (income)/expenses | | | (49,639 | ) | | | (25,397 | ) | | | – | | | | – | | | | (75,036 | ) |
Interest expense | | | 58,294 | | | | 29,925 | | | | | | | | – | | | | 88,219 | |
Total other (income)/expenses | | | 8,655 | | | | 4,528 | | | | – | | | | – | | | | 13,183 | |
Net loss from continuing operations | | | (1,380,175 | ) | | | (109,040 | ) | | | – | | | | (109,005 | ) | | | (1,598,220 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net loss from discontinued operations | | | – | | | | – | | | | – | | | | – | | | | – | |
Net loss | | $ | (1,380,175 | ) | | $ | (109,040 | ) | | $ | – | | | $ | (109,005 | ) | | $ | (1,598,220 | ) |
| | | | | | | | | | | | | | | | | | | | |
Basic and diluted earnings per share | | $ | (0.23 | ) | | | | | | | | | | | | | | $ | (0.18 | ) |
| | | | | | | | | | | | | | | | | | | | |
Basic and fully-diluted weighted average shares outstanding | | | 5,934,474 | | | | 2,500,000 | (d) | | | 220,000 | (d) | | | | | | | 8,654,474 | |
(a) | | Assumes the mergers with Paloma and VasculoMedics occurred on January 1, 2014. |
(b) | | Impact of employment agreement from January 1, 2014 to March 31, 2014. |
(c) | | Amortization of intangible assets for Paloma assuming a 20-year amortization period. |
(d) | | Impact on weighted average shares outstanding for the acquisition shares being outstanding for the entire quarter. |