Exhibit 99.1
SAVEDAILY.COM, INC. AND NINE MILE SOFTWARE, INC.
UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS
| SAVEDAILY.COM, INC. AND NINE MILE SOFTWARE, INC. | ||||||||||
| Unaudited Pro forma Condensed Balance Sheets | ||||||||||
| June 30, 2011 |
| Savedaily.com, Inc. | Nine Mile Software, Inc. | Combined | Pro Forma Adjustments | Pro Forma Results | |||||||||||||||||
| ASSETS | |||||||||||||||||||||
| Current assets: | |||||||||||||||||||||
| Cash | 242,356 | $ | 56,919 | $ | 299,275 | (a) | (20,038 | ) | $ | 142,356 | |||||||||||
| (b) | (136,881 | ) | |||||||||||||||||||
| Cash - held in trust | 88,018 | - | 88,018 | - | 88,018 | ||||||||||||||||
| Marketable securities - held in trust | 82,352,905 | - | 82,352,905 | - | 82,352,905 | ||||||||||||||||
| Other receivables | 67,742 | - | 67,742 | - | 67,742 | ||||||||||||||||
| Note receivable, related party | 50,312 | - | 50,312 | - | 50,312 | ||||||||||||||||
| Prepaid expenses and other assets | 131,057 | - | 131,057 | - | 131,057 | ||||||||||||||||
| Total current assets | 82,932,391 | 56,919 | 82,989,310 | (156,919 | ) | 82,832,391 | |||||||||||||||
| Property and equipment, net | 7,027 | 1,490 | 8,517 | (b) | (1,490 | ) | 7,027 | ||||||||||||||
| Deposits | 20,874 | 20,874 | - | 20,874 | |||||||||||||||||
| Software development, net | - | 3,831 | 3,831 | (b) | (3,831 | ) | - | ||||||||||||||
| Total assets | $ | 82,960,292 | $ | 62,240 | $ | 83,022,532 | $ | (162,240 | ) | $ | 82,860,292 | ||||||||||
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | |||||||||||||||||||||
| Current liabilities: | |||||||||||||||||||||
| Client investments - held in trust | $ | 82,352,905 | $ | - | $ | 82,352,905 | $ | - | $ | 82,352,905 | |||||||||||
| Client deposits - held in trust | 88,018 | - | 88,018 | - | 88,018 | ||||||||||||||||
| Unearned revenues | 184,873 | 20,417 | 205,290 | (b) | (20,417 | ) | 184,873 | ||||||||||||||
| Accounts payable and accrued expenses | 815,173 | 24,498 | 839,671 | (b) | (24,498 | ) | 815,173 | ||||||||||||||
| Accrued expenses, related party | 275,000 | - | 275,000 | - | 275,000 | ||||||||||||||||
| Accrued interest, related party | 3,349 | - | 3,349 | 3,349 | |||||||||||||||||
| Related party debt, current portion | - | 75,000 | 75,000 | (b) | (75,000 | ) | - | ||||||||||||||
| Total current liabilities | 83,719,319 | 119,915 | 83,839,234 | (119,915 | ) | 83,719,319 | |||||||||||||||
| Related party debt, net of current portion | 200,000 | - | 200,000 | - | 200,000 | ||||||||||||||||
| Other long-term liabilities | 48,143 | 48,143 | 48,143 | ||||||||||||||||||
| Total long-term liabilities | - | - | - | - | |||||||||||||||||
| Total liabilities | 83,919,319 | 168,058 | 84,087,377 | (119,915 | ) | 83,967,462 | |||||||||||||||
| Commitments and Contingencies | - | - | - | - | |||||||||||||||||
| Stockholders’ deficit: | |||||||||||||||||||||
| Preferred Stock: 5,000,000 shares authorized at $0.001 par value, no shares issued and outstanding | - | - | - | - | - | ||||||||||||||||
| Common stock; 50,000,000 shares authorized, at $0.001 par value, 36,084,566 shares issued and outstanding | 10,060,699 | 700 | 10,061,399 | (b) | (10,025,314 | ) | 36,085 | ||||||||||||||
| Additional paid-in capital | 5,796,999 | 796,734 | 6,593,733 | (b) | 9,099,775 | 15,693,508 | |||||||||||||||
| Accumulated deficit | (16,816,724 | ) | (903,252 | ) | (17,719,976 | ) | (a) | (20,038 | ) | (16,836,762 | ) | ||||||||||
| (b) | 903,252 | ||||||||||||||||||||
| Total stockholders' deficit | (959,027 | ) | (105,818 | ) | (1,064,845 | ) | (42,325 | ) | (1,107,170 | ) | |||||||||||
| Total liabilities and stockholders' deficit | $ | 82,960,292 | $ | 62,240 | $ | 83,022,532 | $ | (162,240 | ) | $ | 82,860,292 | ||||||||||
NOTES TO PRO FORMA ADJUSTMENTS
June 30, 2011
Pro forma adjustments on the attached financial statements include the following:
(a) To reverse revenue related to TradeWarrior, Inc. in connection with the "Trade Warrior Sale" to Damon Deru.
(b) To record Stock purchase agreement of TradeWarrior, Inc. with Damon Deru to include the assumption of assets and liabilities associated with Nine Mile and the return of 100,000 shares for cancellation of Nine Mile common stock. To record the payment of $100,000 and issuance of 1,600,000 shares related to the extinguishment of Nine Mile liabilities, and to record the recapitalization of SaveDaily with Nine Mile common stock issued pursuant to the Merger, whereby 33,000,000 shares were issued to former SaveDaily shareholders and 975,000 shares to Nine Mile shareholders.
| SAVEDAILY.COM, INC. AND NINE MILE SOFTWARE, INC. |
| Unaudited Pro forma Condensed Statements of Operations |
| For the year ended December 31, 2010 |
| Savedaily.com, Inc. | Nine Mile Software, Inc. | Pro Forma Adjustments | Pro Forma Results | |||||||||||||
| REVENUES | $ | 901,630 | $ | 11,735 | (a) | $ | (11,735 | ) | $ | 901,630 | ||||||
| OPERATING EXPENSES | ||||||||||||||||
| Research and development | - | 80,122 | 80,122 | |||||||||||||
| General and administrative | 1,344,964 | 195,759 | 1,540,723 | |||||||||||||
| Total Operating Expenses | 1,344,964 | 275,881 | - | 1,620,845 | ||||||||||||
| LOSS FROM OPERATIONS | (443,334 | ) | (264,146 | ) | (11,735 | ) | (719,215 | ) | ||||||||
| OTHER INCOME(EXPENSE) | ||||||||||||||||
| Other income | 24,576 | - | 24,576 | |||||||||||||
| Interest income | - | 304 | 304 | |||||||||||||
| Interest expense | (98,665 | ) | (3,425 | ) | -102,090 | |||||||||||
| Total Other Income(Expense) | (74,089 | ) | (3,121 | ) | - | (77,210 | ) | |||||||||
| LOSS BEFORE INCOME TAXES | (517,423 | ) | (267,267 | ) | (11,735 | ) | (796,425 | ) | ||||||||
| PROVISION FOR INCOME TAXES | - | - | - | - | ||||||||||||
| NET LOSS | $ | (517,423 | ) | $ | (267,267 | ) | $ | (11,735 | ) | (796,425 | ) | |||||
| BASIC AND DILUTED LOSS PER COMMON SHARE | $ | (0.05 | ) | $ | (0.41 | ) | $ | (0.00 | ) | $ | (0.02 | ) | ||||
| WEIGHTED AVERAGE NUMBER | ||||||||||||||||
| OF COMMON SHARES OUTSTANDING | 9,442,938 | 649,700 | 23,457,062 | 33,549,700 | ||||||||||||
| SAVEDAILY.COM, INC. AND NINE MILE SOFTWARE, INC. |
| Unaudited Pro forma Condensed Statements of Operations |
| For the Six Months Ended June 30, 2011 |
| Savedaily.com, Inc. | Nine Mile Software, Inc. | Pro Forma Adjustments | Pro Forma Results | ||||||||||||||
| REVENUES | $ | 458,954 | $ | 20,038 | (a) | $ | (20,038 | ) | $ | 458,954 | |||||||
| OPERATING EXPENSES | |||||||||||||||||
| Research and development | - | 31,078 | 31,078 | ||||||||||||||
| General and administrative | 815,021 | 122,921 | 937,942 | ||||||||||||||
| Total Operating Expenses | 815,021 | 153,999 | - | 969,020 | |||||||||||||
| LOSS FROM OPERATIONS | (356,067 | ) | (133,961 | ) | (20,038 | ) | (510,066 | ) | |||||||||
| OTHER INCOME(EXPENSE) | |||||||||||||||||
| Other income | 12,464 | - | 12,464 | ||||||||||||||
| Interest income | 12,769 | 77 | 12,846 | ||||||||||||||
| Interest expense | - | (12,533 | ) | (12,533 | ) | ||||||||||||
| Forgiveness of debt | 113,629 | - | 113,629 | ||||||||||||||
| Forgiveness of accrued interest | 6,218 | - | 6,218 | ||||||||||||||
| Total Other Income(Expense) | 145,080 | (12,456 | ) | - | 132,624 | ||||||||||||
| LOSS BEFORE INCOME TAXES | (210,987 | ) | (146,417 | ) | (20,038 | ) | (377,442 | ) | |||||||||
| PROVISION FOR INCOME TAXES | (73 | ) | - | - | - | ||||||||||||
| NET LOSS | $ | (211,060 | ) | $ | (146,417 | ) | $ | (20,038 | ) | $ | (377,442 | ) | |||||
| BASIC AND DILUTED LOSS PER COMMON SHARE | $ | (0.02 | ) | $ | (0.22 | ) | $ | (0.00 | ) | $ | (0.01 | ) | |||||
| WEIGHTED AVERAGE NUMBER | |||||||||||||||||
| OF COMMON SHARES OUTSTANDING | 11,964,967 | 671,819 | 20,962,770 | 33,599,556 | |||||||||||||