Exhibit 99.6
FUDA GROUP (USA) CORP
PRO-FORMA CONSOLIDATED BALANCE SHEETS
AT JUNE 30, 2015
(Unaudited)
Historical | Pro-Forma | |||||||||||||||||||||
(a) | (b) | (c) | ||||||||||||||||||||
Fuda (US) | Marvel and Subsidiary | Fuda (UK) | Adjustments | Notes | Consolidated | |||||||||||||||||
Assets | ||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 5,420,679 | $ | - | $ | 5,420,679 | ||||||||||||||
Accounts receivable, net | - | 212,897 | - | 212,897 | ||||||||||||||||||
Inventory | - | 918,011 | - | 918,011 | ||||||||||||||||||
Prepaid rent | - | 27,057 | - | 27,057 | ||||||||||||||||||
Other receivables | - | - | - | - | ||||||||||||||||||
Security deposits to suppliers | - | 930,680 | - | 930,680 | ||||||||||||||||||
Total Current Assets | - | 7,509,324 | - | 7,509,324 | ||||||||||||||||||
Land, property and equipment, net | - | 52,710,480 | - | 52,710,480 | ||||||||||||||||||
Total Assets | - | 60,219,804 | - | 60,219,804 | ||||||||||||||||||
Liabilities | ||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||
Accounts payable and accrued expenses | - | 3,201,507 | - | 3,201,507 | ||||||||||||||||||
Taxes payable | - | 226 | - | 226 | ||||||||||||||||||
Due to related parties | - | 1,560 | - | 1,560 | ||||||||||||||||||
Other payables | - | 11,615 | - | 11,615 | ||||||||||||||||||
Trade financing loans | - | - | - | - | ||||||||||||||||||
Advances from customers | 121,698 | 121,698 | ||||||||||||||||||||
Total Current Liabilities | - | 3,336,606 | - | 3,336,606 | ||||||||||||||||||
Total Liabilities | - | 3,336,606 | - | 3,336,606 | ||||||||||||||||||
Commitments & Contingencies | - | - | - | - | ||||||||||||||||||
Equity | ||||||||||||||||||||||
Common stock, at par value | 30,200 | 1,290 | 16 | 6,000 | (d) | 41,200 | ||||||||||||||||
(1,290 | ) | (d) | ||||||||||||||||||||
5,000 | (e) | |||||||||||||||||||||
(16 | ) | (e) | ||||||||||||||||||||
Additional paid-in capital | 1,331 | 9,563,015 | 76 | (6,000 | ) | (d) | 9,553,321 | |||||||||||||||
(5,000 | ) | (e) | ||||||||||||||||||||
1,290 | (d) | |||||||||||||||||||||
16 | (e) | |||||||||||||||||||||
(712 | ) | (f) | ||||||||||||||||||||
(695 | ) | (g) | ||||||||||||||||||||
(1,407 | ) | (h) | ||||||||||||||||||||
Discount on common stock | (30,200 | ) | (30,200 | ) | ||||||||||||||||||
Subscription receivables | (1,290 | ) | (16 | ) | (1,306 | ) | ||||||||||||||||
Accumulated earnings (loss) | (1,331 | ) | 46,664,144 | (76 | ) | 1,407 | (h) | 46,664, 144 | ||||||||||||||
Accumulated other comprehensive income | - | 656,039 | - | 656,039 | ||||||||||||||||||
Total Equity | - | 56,883,198 | - | 56,883,198 | ||||||||||||||||||
Total Liabilities and Equity | $ | - | $ | 60,219,804 | $ | - | $ | 60,219,804 | ||||||||||||||
$ | - | $ | - | $ | - | - |
See accompanying notes to financial statements
Notes
(a) | Derived from the unaudited balance sheet of Fuda Group (USA) Corp as of June 30, 2015 included in Form 10-Q filed on August 7, 2015. |
(b) | Derived from the unaudited consolidated balance sheet of Marvel Investment Corporation Limited as of June 30, 2015 included in this Form 8-K. |
(c) | Derived from the unaudited balance sheet of Fuda Gold (UK) Limited and its Subsidiary as of June 30, 2015 included in this Form 8-K. |
(d) | Fuda (US) to issue 62,000,000 shares of its common stock in exchange for 10,000 shares of Marvel. |
(e) | Fuda (US) to issue 50,000,000 shares of its common stock in exchange for 10 shares of Fuda (UK). |
(f) | Fuda (US)'s Year Ended December 31, 2014 Net Loss |
(g) | Fuda (US) and Fuda (UK) Six Months Ended June 30, 2015 Net Loss |
(h) | Marvel's Year Ended December 31, 2014 and Six Months Ended June 30, 2015 Net Loss |
FUDA GROUP (USA) CORP
PRO-FORMA CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED JUNE 30, 2015
(Unaudited)
Historical | Pro-Forma | |||||||||||||||||||||
(a) | (b) | (c) | ||||||||||||||||||||
Fuda (US) | Marvel and subsidiary | Fuda (UK) | Adjustments | Notes | Consolidated | |||||||||||||||||
Revenues | $ | - | $ | 20,088,354 | $ | - | $ | 20,088,354 | ||||||||||||||
Cost of sales | - | 8,050,832 | - | 8,050,832 | ||||||||||||||||||
Gross margin | - | 12,037,522 | - | 12,037,522 | ||||||||||||||||||
Operating expenses | ||||||||||||||||||||||
Selling, general & administrative expenses | 619 | 332,457 | 76 | (695 | ) | (d) | 332,457 | |||||||||||||||
Total operating expenses | 619 | 332,378 | 76 | 332,378 | ||||||||||||||||||
Income (Loss) from operations | (619 | ) | 11,705,065 | (76 | ) | 11,705, 065 | ||||||||||||||||
Other income (expenses) | ||||||||||||||||||||||
Interest income | - | - | - | |||||||||||||||||||
Interest expense | (1,339 | ) | - | (1,339 | ) | |||||||||||||||||
Government rebate | 34,544 | - | 34,544 | |||||||||||||||||||
Total other income (expenses) | - | 33,205 | - | 33,205 | ||||||||||||||||||
Net income (loss) before income taxes | (619 | ) | 11,738,270 | (76 | ) | 11,738,270 | ||||||||||||||||
Income tax benefit | - | (518 | ) | - | (518 | ) | ||||||||||||||||
Net income (loss) | $ | (619 | ) | $ | 11,737,752 | $ | (76 | ) | $ | 11,737,752 | ||||||||||||
Foreign currency translation adjustment | - | 435,327 | - | 435,327 | ||||||||||||||||||
Comprehensive income (loss) | $ | (619 | ) | $ | 12,173,079 | $ | (76 | ) | $ | 12,173,079 |
See accompanying notes to financial statements
Notes
(a) | Derived from the unaudited balance sheet of Fuda Group (USA) Corp for the year ended December 31, 2014 included in Form 10-Q filed on August 7, 2015. |
(b) | Derived from the unaudited consolidated balance sheet of Marvel Investment Corporation Limited and its Subsidiary for the year ended December 31, 2014 included in this Form 8-K. |
(c) | Fuda Gold (UK) Limited was incorporated on May 2015, no figures during the year ended December 31, 2014. |
(d) | Fuda (US) and Fuda (UK) Six Months Ended June 30, 2015 Net Loss |