Cosmos Health (COSM) 8-K Entry into a Material Definitive Agreement

EXHIBIT 99.1

Pro Forma Balance Sheet as of September 30, 2021

COSMOS HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2021
	(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	5,979,546
Accounts receivable, net	28,341,724
Accounts receivable - related party	3,050,283
Marketable securities		216,561
Inventory	3,716,251
Prepaid expenses and other current assets	5,689,116
Prepaid expenses and other current assets - related party	2,831,728
Operating lease right-of-use asset		960,026
Financing lease right-of-use asset		237,167
TOTAL CURRENT ASSETS	51,022,402
Property and equipment, net	2,061,841
Goodwill and intangible assets, net		218,475
Other assets		763,910
Deferred tax assets		286,555
TOTAL ASSETS	$	54,353,183
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	14,161,588
Accounts payable and accrued expenses - related party		181,203
Accrued interest		719,332
Customer advances		48,972
Convertible notes payable		926,624
Derivative liability - convertible note		234,978
Notes payable	6,413,150
Notes payable - related party		440,366
Lines of credit	5,151,825
Loans payable - related party		708,344
Taxes payable		760,932
Operating lease liability, current portion		172,530
Financing lease liability, current portion		96,323
Other current liabilities		498,248
TOTAL CURRENT LIABILITIES	30,514,415
Share settled debt obligation	1,554,590
Notes payable - long term portion	10,124,779
Operating lease liability, net of current portion		773,099
Financing lease liability, net of current portion		157,537
Other liabilities		103,365
TOTAL LIABILITIES	$	43,227,785
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 100,000,000 shares authorized; 1,250,000 shares issued and outstanding as of September 30, 2021		1,250
Common stock, $0.001 par value; 300,000,000 shares authorized; 17,627,843 shares issued as of September 30, 2021		17,628
Additional paid-in capital	36,255,189
Treasury stock, 350,328 and 415,328 shares as of September 30, 2021		(611,204	)
Accumulated deficit	(24,902,167		)
Accumulated other comprehensive income		364,702
TOTAL STOCKHOLDERS' EQUITY	11,125,398
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	54,353,183