Exhibit 99.2
JUPITER GLOBAL HOLDINGS Corporation | |||||||||||||
Pro Forma Consolidated Balance Sheet | |||||||||||||
June 30, 2005 | |||||||||||||
(Stated in US Dollars) | |||||||||||||
JUPITER Global Holdings Corp | Macro Communications Inc | Adjustments (1) | Pro Forma | ||||||||||
ASSETS | |||||||||||||
Cash | $ | 31,753 | $ | 28,466 | $ | - | $ | 60,219 | |||||
Goods and Services Tax Recoverable | 11,470 | 7,999 | - | 19,469 | |||||||||
Prepaid Expense, Advance other | 17,285 | 30,000 | (30,000 | ) | 17,285 | ||||||||
Note Receivable | - | 1,930,000 | (1,930,000 | ) | - | ||||||||
$ | 60,508 | $ | 1,996,465 | $ | (1,960,000 | ) | $ | 96,973 | |||||
Investments | 2,638,000 | - | (2,000,000 | ) | 638,000 | ||||||||
Capital Assets | 2,694 | 1,028,907 | - | 1,031,601 | |||||||||
$ | 2,701,202 | $ | 3,025,372 | $ | (3,960,000 | ) | $ | 1,766,574 | |||||
LIABILITIES | |||||||||||||
Current | |||||||||||||
A/P & Accrued Expenses | $ | 2,108,153 | $ | 2,423,126 | $ | - | $ | 4,531,279 | |||||
Cost of Unused Time on Phone Cards | |||||||||||||
Loans and Advances payable | 763,532 | 321,134 | (30,000 | ) | 1,054,666 | ||||||||
Obligations under Capital Leases | - | 84,703 | - | 84,703 | |||||||||
Line of credit | - | 471,692 | - | 471,692 | |||||||||
$ | 2,871,685 | $ | 3,300,655 | $ | (30,000 | ) | $ | 6,142,340 | |||||
Note Payable | 1,930,000 | - | (1,930,000 | ) | - | ||||||||
Minority interest | - | - | (454,657 | ) | (454,657 | ) | |||||||
STOCKHOLDERS’ DEFICIENCY | |||||||||||||
Share Capital | |||||||||||||
Common Stock | 85,638 | 2,500 | (2,500 | ) | 85,638 | ||||||||
Preferred Stock | 8,006 | - | - | 8,006 | |||||||||
Additional Paid In Capital | 9,180,232 | 1,998,000 | (1,998,000 | ) | 9,180,232 | ||||||||
Deficit | (11,374,359 | ) | (2,275,783 | ) | 455,157 | (13,194,985 | ) | ||||||
$ | (2,100,483 | ) | $ | (275,283 | ) | $ | (1,545,343 | ) | $ | (3,921,109 | ) | ||
$ | 2,701,202 | $ | 3,025,372 | $ | (3,960,000 | ) | $ | 1,766,574 |
NOTE (1) - The Pro Forma Consolidated Balance Sheet adjustments represent all required Pro Forma adjustments necessary to present the Companies, as if the acquisition, at September 22, 2005, had taken place at the beginning of the period.
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JUPITER GLOBAL HOLDINGS Corporation | |||||||||||||
Pro Forma Consolidated Balance Sheet | |||||||||||||
December 31, 2004 | |||||||||||||
(Stated in US Dollars) | |||||||||||||
JUPITER Global Holdings Corp | Macro Communications Inc | Adjustments (1) | Pro Forma | ||||||||||
ASSETS | |||||||||||||
Cash | $ | 8,240 | $ | 66,922 | $ | - | $ | 75,162 | |||||
Goods and Services Tax Recoverable | 3,757 | 11,670 | - | 15,427 | |||||||||
Prepaid Expense, Advance other | 8,496 | 70,000 | (30,000 | ) | 48,496 | ||||||||
Note Receivable | - | 1,930,000 | (1,930,000 | ) | - | ||||||||
$ | 20,493 | $ | 2,078,592 | $ | (1,960,000 | ) | $ | 139,085 | |||||
Investments | 2,000,000 | - | (2,000,000 | ) | - | ||||||||
Capital Assets | 5,972 | 1,509,376 | - | 1,515,348 | |||||||||
$ | 2,026,465 | $ | 3,587,968 | $ | (3,960,000 | ) | $ | 1,654,433 | |||||
LIABILITIES | |||||||||||||
Current | |||||||||||||
A/P & Accrued Expenses | $ | 2,306,523 | $ | 2,172,192 | $ | - | $ | 4,478,715 | |||||
Cost of Unused Time on Phone Cards | - | 179,296 | - | 179,296 | |||||||||
Loans and Advances payable | 808,581 | 255,534 | (30,000 | ) | 1,034,115 | ||||||||
Obligations under Capital Leases | - | 173,759 | - | 173,759 | |||||||||
Line of credit | - | 471,692 | - | 471,692 | |||||||||
$ | 3,115,104 | $ | 3,252,473 | $ | (30,000 | ) | $ | 6,337,577 | |||||
Notes Payable | 1,930,000 | - | (1,930,000 | ) | - | ||||||||
Minority interest | - | - | (332,501 | ) | (332,501 | ) | |||||||
STOCKHOLDERS’ DEFICIENCY | |||||||||||||
Share Capital | |||||||||||||
Common Stock | 2,757 | 2,500 | (2,500 | ) | 2,757 | ||||||||
Preferred Stock | 8,006 | - | - | 8,006 | |||||||||
Additional Paid In Capital | 5,818,445 | 1,998,000 | (1,998,000 | ) | 5,818,445 | ||||||||
Deficit | (8,847,847 | ) | (1,665,005 | ) | 333,001 | (10,179,851 | ) | ||||||
$ | (3,018,639 | ) | $ | 335,495 | $ | (1,667,499 | ) | $ | (4,350,643 | ) | |||
$ | 2,026,465 | $ | 3,587,968 | $ | (3,960,000 | ) | $ | 1,654,433 |
NOTE (1) - The Pro Forma Consolidated Balance Sheet adjustments represent all required Pro Forma adjustments necessary to present the Companies, as if the acquisition, at September 22, 2005, had taken place at the beginning of the period.
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JUPITER GLOBAL HOLDINGS Corporation | ||||||||||
Pro Forma Consolidated Income Statement | ||||||||||
Year Ended June 30, 2005 | ||||||||||
(Stated in US Dollars) | ||||||||||
JUPITER Global Holdings Corp | Macro Communications Inc | Pro Forma | ||||||||
Revenue | $ | 683,613 | $ | 11,872,727 | $ | 12,556,340 | ||||
Cost of services | - | (11,004,756 | ) | (11,004,756 | ) | |||||
Expenses | (5,351,879 | ) | (2,415,905 | ) | (7,767,784 | ) | ||||
Loss for operations | $ | (4,668,266 | ) | $ | (1,547,934 | ) | $ | (6,216,200 | ) | |
Minority Interest in loss of Subsidiary | 309,587 | |||||||||
Net Loss | $ | (5,906,613 | ) |
JUPITER GLOBAL HOLDINGS Corporation | ||||||||||
Pro Forma Consolidated Statement of Operations | ||||||||||
Year Ended December 31, 2004 | ||||||||||
(Stated in US Dollars) | ||||||||||
JUPITER Global Holdings Corp | Macro Communications Inc | Pro Forma | ||||||||
Revenue | $ | 683,613 | $ | 11,872,727 | $ | 12,556,340 | ||||
(11,004,756 | ) | |||||||||
Cost of services | - | (11,004,756 | ) | |||||||
Expenses | (5,351,879 | ) | (2,415,905 | ) | (7,767,784 | ) | ||||
Loss for operations | $ | (4,668,266 | ) | $ | (1,547,934 | ) | $ | (6,216,200 | ) | |
Minority Interest in loss of Subsidiary | 309,587 | |||||||||
Net Loss | $ | (5,906,613 | ) |