Exhibit 99.2 GUAR GLOBAL LTD. PRO-FORMA COMBINED FINANCIAL STATEMENTS <PAGE> GUAR GLOBAL LTD. INTRODUCTION AND BASIS OF PRESENTATION FOR PRO FORMA COMBINED FINANCIAL STATEMENTS The following pro forma combined financial statements give effect to the acquisition of Pure Guar India Private Limited. (called "Target") by Guar Global Ltd. (called "Guar"). By Stock Purchase Agreement dated July 31, 2013, Guar, a public corporation incorporated in Nevada on May 29, 2007, acquired 99.99% of the issued and outstanding shares of Target, a private corporation incorporated in India on February 19, 2013, in exchange for $1,692.43 (the "Exchange"). The following unaudited pro forma combined financial statements are presented to illustrate the estimated effects of the Exchange. The following pro forma combined balance sheet includes the balance sheets of Guar as of April 30, 2013 and Target as of May 31, 2013, as if the acquisition of Target occurred on that date. The pro forma combined balance sheet and statement of operations should be read in conjunction with the separate historical audited financial statements for both Guar and Target, appearing elsewhere, as follows: (i) for Guar, financial statements for the period ended April 30, 2013 and 2012, as filed recently in Form 10Q; (ii) for Target, audited financial statements for the period from inception (February 19, 2013) to May 31, 2013 The fiscal year ends of Guar is July 31 and Target is May 31. The pro forma balance sheet and earnings (loss) per share data of Guar and Target are indicative of its combined financial position, had the acquisition occurred on May 31, 2013 for the combined balance sheet and the unaudited pro forma combined statements of operations assumes that the Exchange was consummated at the beginning of the period presented. <PAGE> GUAR GLOBAL LTD. PRO FORMA COMBINED BALANCE SHEET Pro-Forma Pro-Forma Guar Target Adjustments Combined ---------- ---------- ----------- ---------- April 30, May 31, May 31, May 31, 2013 2013 2013 2013 ---------- ---------- ---------- ---------- (Note 2-A) (Note 2-B) (Note 2) ASSETS CURRENT ASSETS Cash and cash equivalents $ 135,101 $ 1,915 (C) $ (2,000) $ 2,341 (D) (132,675) Prepaid expenses 2,405 -- 2,405 Prepaid agricultural costs -- 11,453 11,453 Prepaid harvest -- 32,030 32,030 Prepaid land lease -- 68,634 68,634 Cultivation -- 1,125 1,125 ---------- ---------- ---------- ---------- $ 137,506 $ 115,157 $ (134,675) $ 117,988 ========== ========== ========== ========== LIABILITIES CURRENT LIABILITIES Accounts payable and accrued liabilities $ 22,768 $ 1,125 $ -- $ 23,893 Interest payable 11,918 -- -- 11,918 Convertible notes payable 445,000 -- -- 445,000 Due to related party 76,815 -- -- 76,815 Advanced payable -- 132,675 (D) (132,675) -- ---------- ---------- ---------- ---------- 556,501 133,800 -- 557,626 ---------- ---------- ---------- ---------- STOCKHOLDERS' DEFICIT CAPITAL STOCK Authorized - 300,000,000 common shares $0.0001 par value; 73,200,000 issued and outstanding 7,320 1,826 (C) (1,826) 7,320 ADDITIONAL PAID IN CAPITAL 41,180 -- 41,180 RETAINED EARNINGS (DEFICIT) (467,495) (20,469) (C) 20,469 (467,495) (C) (20,643) (20,643) ---------- ---------- ---------- ---------- (418,995) (20,469) (2,000) (439,638) ---------- ---------- ---------- ---------- $ 137,506 $ 115,157 $ (134,675) $ 117,988 ========== ========== ========== ========== The accompanying notes are an integral part of these pro forma financial statements <PAGE> GUAR GLOBAL LTD. PRO FORMA COMBINED STATEMENT OF OPERATIONS Guar Target ------------ ------------ Nine Months Period April 30, May 31, 2013 2013 Pro Forma ------------ ------------ ------------ (Note 2-A) (Note 2-B) Expenses and other items: Professional fees $ 107,766 $ -- $ 107,766 Rent 1,381 -- 1,381 Consulting fees 40,956 -- 40,956 Travel 33,953 -- 33,953 Website 35,000 -- 35,000 Salaries -- 4,718 4,718 Land lease expense -- 13,727 13,727 General and administrative 3,078 2,024 5,102 ------------ ------------ ------------ Total expenses and other items 220,134 20,469 240,603 ------------ ------------ ------------ Income before income taxes (220,134) (20,469) (240,603) Income tax -- -- -- ------------ ------------ ------------ Net Loss $ (220,134) $ (20,469) $ (240,603) ============ ============ ============ Loss per Share - basic and diluted $ (0.00) $ (2.05) $ (0.00) Shares used in calculating basic and diluted loss per share 73,200,000 10,000 73,200,000 The accompanying notes are an integral part of these pro forma financial statements <PAGE> GUAR GLOBAL LTD. PRO FORMA CONSOLIDATED NOTES TO FINANCIAL STATEMENTS NOTE 1 - SHARE EXCHANGE TRANSACTION On July 31, 2013, Guar, a public shell company, entered into a stock purchase agreement with Target, a private corporation, whereby 99.99% of the shares of Target were exchanged for $1,692.43. The unaudited Pro Forma Combined Balance Sheet represents the combined financial position of Guar as of April 30, 2013 and Target as of May 31, 2013. The unaudited Pro Forma Combined Statements of Operations represents the combined results of operations of Guar for the nine months ended April 30, 2013 and Target for the period from inception to May 31, 2013. NOTE 2 - PRO FORMA ADJUSTMENTS The pro forma adjustments to the consolidated balance sheet give effect to the acquisition of Target as if the transactions had occurred at the company's respective balance sheet date of the most recent audit. A. Derived from the balance sheet of Guar as of April 30, 2013 and the period then ended. B. Derived from the balance sheet of Target as of May 31, 2013 and the period then ended. C. Pro forma adjustment to reflect the issuance of $2,000 for 99.99% of outstanding shares of Target. D. To account for the inter-company debt between Guar and Target incurred subsequent to April 30, 2013 (date of Guar pro-forma balance sheet).
- GGBL Dashboard
- Filings
-
8-K Filing
Guar Global (GGBL) Inactive 8-KEntry into a Material Definitive Agreement
Filed: 2 Aug 13, 12:00am