Exhibit 99.2
Unaudited Combined Pro Forma Financial Information |
The unaudited combined pro forma balance sheet gives effect to the acquisition of the Technical License and Equity raises if the transactions had taken place on September 30, 2011. |
These pro forma financial statements are provided for illustrative purposes and do not purport to represent what the Company's financial position would have been if such transactions had occurred on the above mentioned date. These statements were prepared based on accounting principles generally accepted in the United States. The use of estimates is required and actual results could differ from the estimates used. The Company believes the assumptions used provide a reasonable basis for presenting the significant effects directly attributable to the acquisition. |
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Crown Dynamic Corporation | |||||||||||||
Unaudited Combined Pro Forma Income Statement | |||||||||||||
For the Three Months Ended September 30, 2011 | |||||||||||||
Crown | Pro Forma | Pro Forma | |||||||||||
Dynamic | Adjustments | Combined | |||||||||||
Revenue: | |||||||||||||
Revenues | $ | - | $ | - | $ | - | |||||||
Operating Expenses: | |||||||||||||
Filing Fees | 1,934 | - | 1,934 | ||||||||||
Transfer Agent Fees | - | - | - | ||||||||||
Professional Fees | 11,139 | - | 11,139 | ||||||||||
Patent | - | - | - | ||||||||||
Legal - incorporation | - | - | - | ||||||||||
Total Expenses | 13,073 | - | 13,073 | ||||||||||
Loss from operations | (13,073 | ) | - | (13,073 | ) | ||||||||
Other Income (expenses) | - | - | - | ||||||||||
Provision for Income Taxes | - | - | - | ||||||||||
New Income (loss) | $ | (13,073 | ) | $ | - | $ | (13,073 | ) | |||||
Loss per common share | $ | (0.00 | ) | $ | (0.00 | ) | |||||||
2,500,000 | (a) | ||||||||||||
11,000,000 | (b) | ||||||||||||
5,000,000 | (c) | ||||||||||||
1,225,000 | (d) | ||||||||||||
Weighted average common shares outstanding | 3,000,000 | 19,725,000 | 22,725,000 | ||||||||||
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Crown Dynamic Corporation | |||||||||||||
Unaudited Combined Pro Forma Balance Sheet | |||||||||||||
September 30, 2011 | |||||||||||||
Crown | Pro Forma | Pro Forma | |||||||||||
Dynamic | Adjustments | Combined | |||||||||||
Assets | |||||||||||||
Current Assets: | |||||||||||||
Cash and cash equivalents | $ | 300 | $ | 75,000 | (a) | $ | 125,300 | ||||||
50,000 | (c) | ||||||||||||
Deferred Offering Costs | 20,000 | $ | 20,000 | ||||||||||
Other Assets: | |||||||||||||
Intangible assets | $ | - | $ | 1,347,500 | (d) | $ | 1,347,500 | ||||||
Total Assets | $ | 20,300 | $ | 1,472,500 | $ | 1,492,800 | |||||||
Liabilities and Stockholders' Equity | |||||||||||||
Liabilities: | |||||||||||||
Accounts payable and accrued expenses | $ | 47,263 | $ | - | $ | 47,263 | |||||||
Loans from related parties - Directors and stockholders | 22,212 | - | 22,212 | ||||||||||
Total liabilities | 69,475 | - | 69,475 | ||||||||||
Shareholders' Equity: | |||||||||||||
Common Stock, $.0001 par value, 200,000,000 shares authorized | |||||||||||||
3,000,000 issued and outstanding on September 30, 2011 and | 300 | 250 | (a) | 2,273 | |||||||||
22,725,000 issued and outstanding per pro forma combined on | 1,100 | (b) | |||||||||||
September 30, 2011. | 500 | (c) | |||||||||||
123 | (d) | ||||||||||||
Additional Paid in Capital | - | 74,750 | (a) | 1,470,527 | |||||||||
(1,100 | ) | (b) | |||||||||||
49,500 | (c) | ||||||||||||
1,347,377 | (d) | ||||||||||||
(Deficit) accumulated during development stage | (49,475 | ) | - | (49,475 | ) | ||||||||
Total shareholders' equity | (49,175 | ) | 1,472,500 | 1,423,325 | |||||||||
Total liabilities and shareholders' equity | $ | 20,300 | $ | 1,472,500 | $ | 1,492,800 | |||||||
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Crown Dynamic Corporation |
Notes to Unaudited Combined Pro Forma Statement of Operations |
NOTE 1--Basis of Presentation |
The unaudited proforma combined balance sheet as of September 30, 2011 was based on the unaudited balance sheet of Crown Dynamic Corporation. ("the Company"). The pro forma adjustments to give effect as if it occurred on September 30, 2011. |
The unaudited combined statement of operations of the Company for the 3 month period ended September 30, 2011 were derived from the statement of operations as reported with the 10-Q filed on October 31, 2011. |
These pro forma financial statements are provided for illustrative purposes and do not purport to represent what the Company's financial position would have been if such transactions had occurred on the above mentioned date. These statements were prepared based on accounting principles generally accepted in the United States. The use of estimates is required and actual results could differ from the estimates used. The Company believes the assumptions used provide a reasonable basis for presenting the significant effects directly attributable to the acquisition. |
The following pro forma adjustments are incorporated into the unaudited combined pro forma balance sheet as of September 30, 2011 and the unaudited combined pro forma statement of operations for the three months ended September 30, 2011. |
(a) On or about October 9th 2011, sold 2,500,000 shares for $75,000. |
(b) On January 3rd 2012, record forward split 3-to-1. |
(c) On January 18th 2012, sold 5,000,000 shares for $50,000. |
(d) On January 20th 2012, issued 1,225,000 shares to Zorah LLC for Technical License Agreement |
at $1.10 per share. |
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