GenTech (GTEH) 1-A POS Offering $8M in Equity

Exhibit 16.2

UNAUDITED PROFORMA CONDENSED BALANCE SHEET

YEAR ENDED OCTOBER 31, 2019

	Gentech Holdings, Inc.			Sinister Labs LLC			Pro Forma Adjustments			Pro Forma Combined
Assets
Current Assets
Cash	$	53		$	28,899		$	(28,899	)	$	53
Accounts receivable		-			527,669			-			527,669
Loan origination costs		1,645			-			-			1,645
Other current assets		-			856,253			-			856,253
Total current assets		1,698			1,412,821			(28,899	)		1,385,620
Property and equipment, net		16,499			1,949			(1,949	)		16,499
Total Assets	$	18,197		$	1,414,770		$	(30,848	)	$	1,402,119
Liabilities and Stockholders Equity
Current Liabilities
Judgement payable	$	1,068,339		$	-		$	-		$	1,068,339
Accounts payable		22,404			403,491			(403,491	)		22,404
Accrued expenses, related parties		23,927			-			-			23,927
Accrued expenses		186,905			-			-			186,905
Accrued compensation		134,201			-			-			134,201
Credit cards		-			31,379			(31,379	)		-
Loans payable, related parties		29,000			-			-			29,000
Derivative liability		414,856			-			-			414,856
Payroll liabilies		-			332			(332	)		-
Sales taxes payable		-			159			(159	)		-
Loans payable, related parties		35,979			-			-			35,979
Loans payable		27,400			3,910,037			(3,910,037	)		27,400
Convertible debenture		1,143,146			-			-			1,143,146
Total current liabilites		3,086,157			4,345,398			(4,345,398	)		3,086,157
											-
Stockholders’ Equity											-
Common stock		4,287			-			-			4,287
Additional paid in capital		5,606,239			-			4,314,550			9,920,789
Subscriptions payable		1,500			-			-			1,500
Retained earnings		(8,679,986	)		(2,930,628	)		-			(11,610,614	)
Total stockholders’ equity		(3,067,960	)		(2,930,628	)		4,314,550			(1,684,038	)
											-
Total liabilities and Stockholder’s equity (Deficit)	$	18,197		$	1,414,770		$	(30,848	)	$	1,402,119

F-1 

UNAUDITED PROFORMA CONDENSED STATEMENT OF OPERATIONS

YEAR ENDED OCTOBER 31, 2019

	Gentech Holdings, Inc.			Sinister Labs LLC			Pro Forma Adjustments	Pro Forma Combined
Revenue	$	-		$	2,239,266		$	$	2,239,266
									-
Cost of goods sold					1,607,941				1,607,941
									-
Gross profit					631,325				631,325
									-
Operating expenses									-
Amazon Advertising Fees					787				787
Bad Debt					171,931				171,931
Charitable Contributions					-				-
E-commerce Expenses					-				-
CS Product Replacement					1,463				1,463
D2C Shipping					114,418				114,418
Digital Strategy					65,000				65,000
Ecommerce Software					12,712				12,712
Gateway Fees					120				120
Merchant Fees					16,184				16,184
Paid Advertising					114,477				114,477
Website Expenses					330				330
Domain Registration					77				77
Shopify Application Fee					(3,330	)			(3,330	)
Shopify Shipping Fee					-				-
Shopify Subscription Fees					2,664				2,664
Shopify Transaction Fees					2,279				2,279
Website Expenses - UK					187				187
Total Website Expenses					2,207				2,207
Total E-commerce Expenses					326,582				326,582
Employee Benefits & Labor									-
Employee Benefits									-
Dental Insurance					1,210				1,210
Health Insurance					13,796				13,796
Vision Insurance					165				165
Total Employee Benefits					15,171				15,171
Reimbursement									-
Taxes					26,044				26,044
Wages									-
Bonus					13,862				13,862
Commission					39,340				39,340
Holiday Pay					288				288
Other Earnings					15,356				15,356
Overtime									-
Paid time off					672				672
Regular Pay					22,970				22,970
Salary		120,050			244,487				364,537
Vacation Pay									-
Total Wages		120,050			336,976				457,026
Total Employee Benefits & Labor					378,191				378,191
Facility Expenses									-
Janitorial					1,214				1,214
Pest Control					80				80
Rent Expense					17,178				17,178
Repair & Maintenance					716				716
TX Internet Expenses					508				508
Utilities					1,877				1,877
Total Facility Expenses					21,573				21,573
Genreal & administrative		478,442							478,442
Bank Fees					1,021				1,021
Computer Maintenance					820				820
G&A Software Expense					4,148				4,148
Gifts					656				656
Insurance Expense					11,064				11,064
Interest Expense					64,430				64,430
Inventory XFer Account					-				-
Licenses, Registrations, & Permits					649				649
Management Services					-				-
Meals & Entertainment					1,345				1,345
Office Supplies					3,262				3,262
Payroll Processing Fees					650				650
Postage					532				532
Professional Fees		115,417			-				115,417
Contract Consultant					6,376				6,376
Legal & Professional Fees					38,369				38,369
Total Professional Fees		115,417			44,745				160,162
Recruiting Expenses									-
Taxes Paid					14				14
Franchise Taxes					963				963
Property Taxes					25,657				25,657
Total Taxes Paid					26,634				26,634
Total General/Administrative Expenses					159,956				159,956
Marketing & Advertising									-
Athlete Sponsorship					4,800				4,800
Clothing					176				176
Demo Expense					3,250				3,250
Event Sponsorships					-				-
Influencer Commission					-				-
Influencer Product					3,121				3,121
Marketing Materials					47,275				47,275
Marketing Other					2,799				2,799
Print Advertising					562				562
Promotional Product					33,856				33,856
Sampling Expense					182				182
Social Media Consulting					20,000				20,000
Tradeshow Expenses					-				-
Tradeshow Booth Fees/Materials					20,776				20,776
Tradeshow Booth Workers					3,015				3,015
Tradeshow Discounts & Giveaways									-
Tradeshow Internet					2,664				2,664
Tradeshow M&E					4,467				4,467
Tradeshow Shipping					4,718				4,718
Tradeshow Travel					11,253				11,253
Total Tradeshow Expenses					46,894				46,894
Total Marketing & Advertising					162,914				162,914
Payroll Expenses									-
Wages									-
Paid time off					-				-
Total Wages					-				-
Total Payroll Expenses					-				-
Product Development					1,760				1,760
Miscellaneous Development					12,163				12,163
Packaging Design					18,359				18,359
Product Registrations					315				315
Research & Development					6,484				6,484
Total Product Development					39,081				39,081
Selling Expenses									-
Advertising/Promotional					8,004				8,004
Amazon Fees					14,853				14,853
Car Stock					6,821				6,821
Distributor/Wholesale Freight					102,368				102,368
EDI Expense					3,149				3,149
Freight Damages					3,440				3,440
Outside Sales Commission					585				585
QuickBooks Payments Fees					1,088				1,088
Registration Fees					51				51
Store/Retail Product Promo					5,120				5,120
Travel Expenses									-
Airfare					4,336				4,336
Gas					5,663				5,663
Hotel					2,419				2,419
Taxi/Train/Bus/Shuttle					4,259				4,259
Travel Internet					46				46
Travel Meals					5,645				5,645
Total Travel Expenses					22,367				22,367
UPS Shipping					5,063				5,063
Vendor Slotting, Compliance  & Other Fees					18,986				18,986
Wholesale Software					750				750
Total Selling Expenses					192,644				192,644
Technology Expenses									-
Minor Hardware									-
Total Technology Expenses					-				-
Warehouse & Logistics					-				-
Inner Warehouse Shipping					4,797				4,797
Logistics Consulting					4,100				4,100
Warehouse Labor					5,730				5,730
Warehouse Repairs					-				-
Warehouse Storage - External					55,166				55,166
Warehouse Supplies					14,903				14,903
Total Warehouse & Logistics		-			84,696				84,696
Total Expenses		713,909			1,538,354				2,252,263
Net Operating Income		(713,909	)		(907,029	)			(1,620,938	)
									-
Other Income/(Expenses)									-
Gain on settlement of debt		149,856			-				149,856
Interest expense		(219,620	)		-				(219,620	)
Total Other Income/( Expenses)		(69,764	)		-				(69,764	)
Net Other Income/(Expenses)					-				-
									-
Net loss	$	(783,673	)	$	(907,029	)	$	$	(1,690,702	)

F-2