MITOVIE PHARMA EUROPE
PROFORMA CONSOLIDATED BALANCE SHEET
MPE LTD as of March 31 2014
Remmington Enterprises Inc as of April 24 2014
| REMMINGTON | MITOVIE | COMBINED | PROFORMA ADJ | ADJ PROFORMA TOTALS | ||||||||||||||||
| ASSETS | $ | $ | $ | $ | $ | |||||||||||||||
| CURRENT ASSETS | ||||||||||||||||||||
| Cash | 29,641 | 4,589 | 34,230 | 34,230 | ||||||||||||||||
| Trade/other debtors | — | 7,786 | 7,786 | 7,786 | ||||||||||||||||
| Prepayments | — | 5,823 | 5,823 | 5,823 | ||||||||||||||||
| VAT recoverable | — | 4,744 | 4,744 | 4,744 | ||||||||||||||||
| TOTAL CURRENT ASSETS | 29,641 | 22,942 | 52,583 | — | 52,583 | |||||||||||||||
| TOTAL ASSETS | 29,641 | 22,942 | 52,583 | — | 52,583 | |||||||||||||||
| LIABILITIES AND STOCKHOLDERS DEFICIT | ||||||||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||||||||
| Trade payables/accrued expenses | 17,778 | 3,480 | 21,258 | 21,258 | ||||||||||||||||
| Accrued payroll | 31,794 | 31,794 | 31,794 | |||||||||||||||||
| Loan | 50,000 | 79,963 | 129,963 | 129,963 | ||||||||||||||||
| Accounts payable (related party) | 833 | 833 | 833 | |||||||||||||||||
| TOTAL CURRENT LIABILITIES | 68,611 | 115,237 | 183,848 | — | 183,848 | |||||||||||||||
| TOTAL LIABILITIES | 68,611 | 115,237 | 183,848 | — | 183,848 | |||||||||||||||
| STOCKHOLDERS DEFICIT | ||||||||||||||||||||
| Preferred stock | 0 | 0 | 0 | 0 | ||||||||||||||||
| common stock | 14,950 | 400 | 15,350 | 15,350 | ||||||||||||||||
| Additional paid in capital | 40,300 | 40,300 | 40,300 | |||||||||||||||||
| share premium account | 0 | 0 | ||||||||||||||||||
| Subscription receivable | (2,050 | ) | (400 | ) | (2,450 | ) | (2,450 | ) | ||||||||||||
| Accumulated other comprehensive loss | (44 | ) | (44 | ) | (44 | ) | ||||||||||||||
| Accumulated losses from discontinuted operations | (6,166 | ) | (6,166 | ) | (6,166 | ) | ||||||||||||||
| deficit accumulated during development stage | (86,004 | ) | (92,251 | ) | (178,255 | ) | (178,255 | ) | ||||||||||||
| TOTAL STOCKHOLDERS DEFICIT | (38,970 | ) | (92,295 | ) | (131,265 | ) | 0 | (131,265 | ) | |||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | 29,641 | 22,942 | 52,583 | 0 | 52,583 |
MITOVIE PHARMA EUROPE
PROFORMA STATEMENT OF OPERATIONS
MPE LTD as of March 31 2014
Remmington Enterprises Inc as of April 24 2014
| REMMINGTON | MITOVIE | COMBINED | PROFORMA ADJ | ADJ PROFORMA TOTALS | ||||||||||||||||
| REVENUE | $ | 0 | $ | 7,366 | $ | 7,366 | $ | $ | 7,366 | |||||||||||
| COST OF GOODS SOLD | (4,249 | ) | (4,249 | ) | (4,249 | ) | ||||||||||||||
| OPERATING EXPENSES | ||||||||||||||||||||
| Professional fees | 200,160 | 200,160 | 200,160 | |||||||||||||||||
| Payroll Expenses | 62,303 | 62,303 | 62,303 | |||||||||||||||||
| G&A | 24,115 | 33,065 | 57,180 | 57,180 | ||||||||||||||||
| TOTAL OPERATING EXPENSES | 224,275 | 95,368 | 319,643 | 319,643 | ||||||||||||||||
| Loss from continuing operations | (224,275 | ) | (92,251 | ) | (316,526 | ) | (316,526 | ) | ||||||||||||
| OTHER INCOME: | ||||||||||||||||||||
| Gain on sale of asset | 138,271 | 0 | 138,271 | 138,271 | ||||||||||||||||
| NET INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS | (86,004 | ) | (92,251 | ) | (178,255 | ) | (178,255 | ) | ||||||||||||
| LOSS FROM DISCONTINUED OPERATIONS | (6,166 | ) | (6,166 | ) | ||||||||||||||||
| NET INCOME (LOSS) | (92,170 | ) | (92,251 | ) | (184,421 | ) | 0 | (178,255 | ) |
| 2 |
MITOVIE PHARMA EUROPE
PROFORMA STATEMENT OF CASHFLOWS
MPE LTD as of March 31 2014
Remmington Enterprises Inc as of April 24 2014
| REMMINGTON | MITOVIE | COMBINED | PROFORMA ADJ | ADJ PROFORMA TOTALS | ||||||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||
| Net loss | (86,004 | ) | (92,251 | ) | (178,255 | ) | (178,255 | ) | ||||||||||||
| Net loss from discontinuted operations | (6,166 | ) | (6,166 | ) | (6,166 | ) | ||||||||||||||
| Gain on sale of mining asset | (138,271 | ) | (138,271 | ) | (138,271 | ) | ||||||||||||||
| Changes in operating assets and liabilities: | — | — | ||||||||||||||||||
| Increase in trade debtors | (7,786 | ) | (7,786 | ) | (7,786 | ) | ||||||||||||||
| Increase in prepayments | (5,823 | ) | (5,823 | ) | (5,823 | ) | ||||||||||||||
| Increase in VAT recoverable | (4,744 | ) | (4,744 | ) | (4,744 | ) | ||||||||||||||
| Increase in trade payables & accrued expenses | 176,649 | 3,480 | 180,129 | 180,129 | ||||||||||||||||
| accrued expenses related party | 833 | 833 | 833 | |||||||||||||||||
| Increase in accrued payroll | 31,794 | 31,794 | 31,794 | |||||||||||||||||
| NET CASH USED IN OPERATING ACTIVITIES | (52,959 | ) | (75,330 | ) | (128,289 | ) | — | (128,289 | ) | |||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES OF CONTINUING OPERATIONS | ||||||||||||||||||||
| Purchase of mining claims | (20,600 | ) | (20,600 | ) | (20,600 | ) | ||||||||||||||
| NET CASH USED IN INVESTING ACTIVITIES | (20,600 | ) | — | (20,600 | ) | — | (20,600 | ) | ||||||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||
| Proceeds from loan | 50,000 | 79,963 | 129,963 | 129,963 | ||||||||||||||||
| Proceeds from sales of common stock- related party | 30,000 | 30,000 | 30,000 | |||||||||||||||||
| Proceeds from sales of common stock | 23,200 | 23,200 | 23,200 | |||||||||||||||||
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 103,200 | 79,963 | 183,163 | — | 183,163 | |||||||||||||||
| Effect on foreign exchange | (44 | ) | (44 | ) | (44 | ) | ||||||||||||||
| NET INCREASE IN CASH | 29,641 | 4,589 | 34,230 | 34,230 | ||||||||||||||||
| CASH, BEGINNING OF PERIOD | — | — | — | — | ||||||||||||||||
| CASH, END OF PERIOD | 29,641 | 4,589 | 34,230 | 34,230 | ||||||||||||||||
| 3 |
