Manufactured Housing Properties (MHPC) 8-K Completion of Acquisition or Disposition of Assets

Exhibit 99.1

CAPROCK OIL, INC.

PRO FORMA BALANCE SHEET

MARCH 31, 2015

	As Reported			Pro Forma Adjustments						As Adjusted
Assets
Current assets:
Cash and cash equivalents	$	54,650		$	3,100,000	(A)	$	(3,000,000	) (B)	$	154,650
Accounts receivable		145,633			(84,350	) (A)		-			61,283
Prepaid expenses and other		34,909			-			-			34,909
Total current assets		235,192			3,015,650			(3,000,000	)		250,842
Property and equipment:
Oil and gas properties, evaluated		16,137,554			(3,629,550	) (A)		-			12,508,004
Oil and gas properties, unevaluated		604,589			-			-			604,589
Other property and equipment		40,978			-			-			40,978
		16,783,121			(3,629,550	)		-			13,153,571
Less:  Accumulated DD&A		(11,631,146	)		(431,050	) (C)		-			(12,062,196	)
Net property and equipment		5,151,975			(4,060,600	)		-			1,091,375
Other assets:
Other noncurrent assets		5,237			-			-			5,237
Total other assets		5,237			-			-			5,237
Total assets	$	5,392,404		$	(1,044,950	)		(3,000,000	)	$	1,347,454
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Current portion of long term debt	$	2,072,797		$	-		$	(2,046,000	) (B)	$	26,797
Accounts payable		1,080,995			-			(729,000	) (B)		351,995
Accrued liabilities		1,629,778			-			(140,000	) (B)		1,489,778
Total current liabilities		4,783,570			-			(2,915,000	)		1,868,570
Deferred income taxes		263,900			(263,900	) (A)		-			-
Asset retirement obligations		487,150			(350,000	) (A)		-			137,150
Total liabilities		5,534,620			(613,900	)		(2,915,000	)		2,005,720
Stockholders’ equity (deficit):
Preferred stock		-			-			-			-
Common stock		518,134			-			-			518,134
Additional paid-in capital		15,172,004			-			-			15,172,004
Accumulated deficit		(15,832,354	)		(431,050	) (C)		(85,000	) (B)		(16,348,404	)
Total stockholders’ equity (deficit)		(142,216	)		(431,050	)		(85,000	)		(658,266	)
Total liabilities and stockholders equity (deficit)	$	5,392,404		$	(1,044,950	)	$	(3,000,000	)	$	1,347,454

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CAPROCK OIL, INC.

PRO FORMA STATEMENT OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2015

				Pro Forma
	As Reported			Adjustments			As Adjusted
Revenues:
Oil and gas sales	$	162,200		$	(114,256	) (C)	$	47,944
		162,200			(114,256	)		47,944
Operating expenses:
Lease operating expense		257,663			(187,334	) (C)		70,329
Depreciation, depletion and amortization		96,561			(45,300	) (C)		51,261
Impairment expense		997,924			431,050	(C)		1,428,974
Accretion expense		10,720			(7,500	) (C)		3,220
Workover expense		68,185			(66,434	) (C)		1,751
Selling, general and administrative		401,436			(173,772	) (C)		227,664
		1,832,489			(49,290	)		1,783,199
Operating loss		(1,670,289	)		(64,966	)		(1,735,255	)
Other income (expense):
Interest income		14			-			14
Interest expense		(67,587	)		29,943	(C)		(37,644	)
Loss before income taxes		(1,737,862	)		(35,023	)		(1,772,885	)
Benefit for income taxes		539,900			11,900	(C)		551,800
Net loss	$	(1,197,962	)	$	(23,123	)	$	(1,221,085	)
Net loss per share, basic and diluted	$	(0.02	)				$	(0.02	)
Weighted average shares outstanding		51,811,781						51,811,781

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CAPROCK OIL, INC.

PRO FORMA STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2014

				Pro Forma
	As Reported			Adjustments			As Adjusted
Revenues:
Oil and gas sales	$	2,361,828		$	(1,643,842	) (C)	$	717,986
		2,361,828			(1,643,842	)		717,986
Operating expenses:
Lease operating expense		1,514,507			(1,217,685	) (C)		296,822
Depreciation, depletion and amortization		573,216			(391,200	) (C)		182,016
Accretion expense		40,590			(30,000	) (C)		10,590
Workover expense		941,606			(902,111	) (C)		39,495
Selling, general and administrative		1,618,861			(382,395	) (C)		1,236,466
		4,688,780			(2,923,391	)		1,765,389
Operating loss		(2,326,952	)		1,279,549			(1,047,403	)
Other income (expense):
Interest income		525			-			525
Interest expense		(162,245	)		82,564	(C)		(79,681	)
Loss before income taxes		(2,488,672	)		1,362,113			(1,126,559	)
Benefit for income taxes		496,700			(463,100	) (C)		33,600
Net loss	$	(1,991,972	)	$	899,013		$	(1,092,959	)
Net loss per share, basic and diluted	$	(0.04	)				$	(0.02	)
Weighted average shares outstanding		51,135,235						51,135,235

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NOTES TO UNAUDITED PRO FORMA FINANCIAL STATEMENTS

(A)   To record the sale of the subject producing oil and gas properties by the Company to the Buyer for a cash sales price of $3,100,000, and to adjust the historical Balance Sheet accounts as of March 31, 2015.

(B)   To record application of the gross sales proceeds to the payment of long-term debt, accounts payable and accrued liabilities, including prepayment penalties to the bridge loan lenders in the cash amount of $85,000.

(C)   To record the following:  (i) Elimination of revenues and expenses of the subject producing oil and gas properties from the historical Statement of Operations; (ii) Estimation of impairment allowance at March 31, 2015 resulting from sale of the subject producing oil and gas properties; and (iii) Recognition of income tax effects of such adjustments.

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