ELRAY RESOURCES, INC.
(AN EXPLORATION STAGE COMPANY)
UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET
( $ OOO’s )
ASSETS | March 31, 2007 | March 31, 2008 |
Current assets | ||
Cash | $ 53 | $ 34 |
Total current assets | 53 | 34 |
Non Current assets Properties, Property & Equipment and Other | 240 | 369 |
Total assets | $ 293 | $ 403 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Current Liabilities | ||
Accounts payable | $ - | $ - |
Total current liabilities | - | - |
Total liabilities | - | - |
Stockholders’ Equity | ||
Common stock, $.001 par value, 75,000,000 shares authorized 56,437,500 shares issued and outstanding | 13 | 62 |
Additional paid in capital | 603 | 890 |
Deficit accumulated during the exploration stage | (323) | (549) |
Total stockholders’ equity | 293 | 403 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 293 | $ 403 |
ELRAY RESOURCES, INC.
(AN EXPLORATION STAGE COMPANY)
UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
For the year ended March 31, 2008
For the period from Inception through March 31, 2007
For the period from Inception through March 31, 2008
( $ 000’s )
Year ended March 31, | Inception through March 31, | Inception through March 31, | |
2008 | 2007 | 2008 | |
General and administrative expenses: | |||
Professional fees | $ 107 | $ 85 | $ 192 |
Impairment Depreciation | - 18 | 4 9 | 4 27 |
Exploration | 52 | 118 | 170 |
Other | 49 | 107 | 156 |
Total general and administrative expenses | 226 | 323 | 549 |
Net loss | $ (226) | $ (323) | $ (549) |
Net loss per share: | |||
Basic and diluted | $ (0.00) | ||
Weighted average shares outstanding: | |||
Basic and diluted | 71,560,788 | 57,343,750 |