VIDEO RIVER NETWORK, INC. | ||||||||||
Unaudited Proforma Statements of Operations | ||||||||||
June 30, 2019 | ||||||||||
Video River Networks, Inc. | Community Economic Development LLC | Eliminations | Total | |||||||
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REVENUE |
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Total revenue | $ - | $ - | $ - | $ - | ||||||
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EXPENSES: | ||||||||||
| Rent expense |
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| 11,257 |
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| 11,257 | |
Telephone expense | 552 | 552 | ||||||||
| Other operating expenses |
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| 29,109 |
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| 29,109 | ||
| Total operating expenses |
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| 40,918 |
| - |
| 40,918 | |
NET LOSS FROM OPERATIONS |
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| (40,918) |
| - |
| (40,918) | ||
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NET LOSS | $ - |
| $ (40,918) | $ - | $ (40,918) | |||||
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Basic and diluted loss per common share | $ - |
| $ - |
| $ (0.00029) | |||||
Weighted average number of common | ||||||||||
Shares outstanding basic and diluted | 139,153,206 |
| - | - | 139,153,206 | |||||
The accompanying notes are an integral part of these financial statements |
VIDEO RIVER NETWORK, INC. | ||||||||||
Unaudited Proforma Balance Sheet | ||||||||||
June 30, 2019 | ||||||||||
Video River Networks, Inc. | Community Economic Development LLC | Eliminations | Total | |||||||
ASSETS | ||||||||||
Cash and cash equivalents |
| $ - |
| $ 14,508 |
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| $ 14,508 | ||
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Total Current Assets |
| $ - |
| $ 14,508 |
| $ - |
| $ 14,508 | ||
Real Estate Holdings |
| $ - |
| $ 1,415,739 |
| $ - |
| $ 1,415,739 | ||
Fixed Assets | 9,126 | 9,126 | ||||||||
| Total assets |
| $ - |
| $ 1,439,373 |
| $ - |
| $ 1,439,373 | |
LIABILITIES AND STOCKHOLDERS' DEFICIT |
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Liabilites: |
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Current liabilities | $ - | $ - | $ - | |||||||
Long-term liabilities |
| $ - |
| $ 1,480,291 |
| $ - |
| $ 1,480,291 | ||
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Total liabilities |
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| - |
| 1,480,291 |
| - |
| 1,480,291 | |
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Stockholders' deficit: | ||||||||||
Preferred stock, $.001 par value, 1,000,000 shares authorized, 0 issued and outstanding |
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| - | |||
Common stock ($0.0001 par value) | - | - | ||||||||
200,000,000 shares authorized, no par |
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139,153,206 issued and outstanding on 06/30/2019, and | 139,153 |
| 139,153 | |||||||
Additional Paid-in Capital |
| 18,974,719 |
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| - |
| 18,974,719 | ||
Accumulated Deficits | (19,113,872) | (40,918) |
| (19,154,790) | ||||||
Total stockholders' equity |
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| - |
| (40,918) |
| 0 |
| (40,918) | |
Total liabilities and stockholders' equity | $ - | $ 1,439,373 | # | $ 0 | # | $ 1,439,373 | ||||