GBT (GTCH) 8-K Entry into a Material Definitive Agreement

Exhibit 99.1

GBT TECHNOLOGIES INC.

PRO FORMA CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2019

ASSETS
	As Filed			Adjustments			As Adjusted
Current Assets:
Cash	$	454,407		$	335,200		$	789,607
Accounts receivable		670,914						670,914
Prepaid expenses and other current assets		187,500						187,500
Marketable equity security		5,600,000			(5,600,000	)		—
Total current assets		6,912,821			(5,264,800	)		1,648,021
Property and equipment, net		192,327						192,327
Intangible assets, net		2,912,208						2,912,208
Equity investment		31,663,441						31,663,441
Goodwill		925,877						925,877
Total assets	$	42,606,674		$	(5,264,800	)	$	37,341,874
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Accounts payable and accrued expenses (including related parties of $574,542)	$	2,889,897		$			$	2,889,897
Unearned revenue		253,429						253,429
Due to Guardian LLC (related party)		33,356						33,356
Convertible notes payable, net of discount of $4,090,099		1,319,901						1,319,901
Note payable, net of discount of $198,904		4,866,096						4,866,096
Derivative liability		109,181,600						109,181,600
Total current liabilities		118,544,279			—			118,544,279
Convertible note payable		10,000,000						10,000,000
Total liabilities		128,544,279			—			128,544,279
Contingencies		—						—
								—
Stockholders' Deficit:		—
Series B Preferred stock		—						—
Series C Preferred stock		—						—
Series D Preferred stock		—						—
Series G Preferred stock		—						—
Series H Preferred stock		—						—
Common stock		4,166			(2	)		4,164
Treasury stock		(643,059	)					(643,059)
Stock loan receivable		(7,610,147	)					(7,610,147	)
Additional paid in capital		106,214,002			(797,998	)		105,416,004
Accumulated deficit		(183,902,567	)		(4,466,800	)		(188,369,367	)
Total stockholders' deficit		(85,937,605	)		(5,264,800	)		(91,202,405	)
Total liabilities and stockholders' deficit	$	42,606,674		$	(5,264,800	)	$	37,341,874

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GBT TECHNOLOGIES INC.

PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2019

	As Filed			Adjustments			As Adjusted
Sales:
Sales	$	25,735,087		$			$	25,735,087
Related party sales		90,000						90,000
Total sales		25,825,087			—			25,825,087
Cost of goods sold		24,910,141						24,910,141
Gross profit		914,946			—			914,946
Operating expenses:
General and administrative expenses		5,454,206						5,454,206
Marketing expenses		717,824						717,824
Acquisition costs		150,000						150,000
Total operating expenses		6,322,030			—			6,322,030
Loss from operations		(5,407,084	)		—			(5,407,084	)
Other income (expense):
Amortization of debt discount		(2,580,121	)					(2,580,121	)
Change in fair value of derivative liability		(101,890,733	)					(101,890,733	)
Interest expense and financing costs		(5,924,238	)					(5,924,238	)
Unrealized loss on marketable equity security		(5,682,912	)		(1,992,405	)		(7,675,317	)
Realized gain on disposal of marketable equity security		3,582,912			(2,474,395	)		1,108,517
Equity loss in investment		(36,559	)					(36,559	)
Interest income		187,500						187,500
Total other income (expense)		(112,344,151	)		(4,466,800	)		(116,810,951	)
Loss before income taxes		(117,751,235	)		(4,466,800	)		(122,218,035	)
Income tax expense		—			—			—
Net loss	$	(117,751,235	)	$	(4,466,800	)	$	(122,218,035	)

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