EXHIBIT 99.2
INFINITY CROSS BORDER ACQUISITION CORPORATION
(a corporation in the development stage)
PRO FORMA
JULY 27, 2012
As of July 25, 2012 | Pro Forma Adjustments | Pro Forma Totals | ||||||||||
ASSETS | ||||||||||||
Current assets | ||||||||||||
Cash | $ | 718,134 | $ | - | 718,134 | |||||||
Prepaid expenses | 1,525 | - | 1,525 | |||||||||
Deferred offering costs | - | - | - | |||||||||
Restricted cash held in Trust | 40,000,000 | 6,000,000 | 46,000,000 | |||||||||
Total Assets | $ | 40,719,659 | $ | 6,000,000 | 46,719,659 | |||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
Current Liabilities | ||||||||||||
Note and advances payable to affiliate | $ | 139,283 | $ | - | 139,283 | |||||||
Accrued offering costs | - | - | - | |||||||||
Accrued expenses | 72,754 | - | 72,754 | |||||||||
Deferred legal fees | 100,000 | - | 100,000 | |||||||||
Total current liabilities | 312,037 | - | 312,037 | |||||||||
Commitments and Contingencies | ||||||||||||
Ordinary shares subject to possible redemption; 5,175,952 shares (at redemption value) | 35,407,621 | 6,000,000 | 41,407,621 | |||||||||
Shareholders' Equity: | ||||||||||||
Ordinary shares, no par value; unlimited shares authorized; 6,437,500 shares issued and outstanding; 7,187,500 as adjusted | - | - | - | |||||||||
Additional paid-in capital | 5,033,711 | - | 5,033,711 | |||||||||
Deficit accumulated during the development stage | (33,710 | ) | - | (33,710 | ) | |||||||
Total shareholders’ equity (deficit ) | 5,000,001 | - | 5,000,001 | |||||||||
Total liabilities and shareholders' equity (deficit ) | $ | 40,719,659 | $ | 6,000,000 | 46,719,929 |