The following unaudited pro forma condensed combined financial information and related notes present the historical condensed combined financial information of Powercomm Holdings, Inc. and its wholly owned subsidiary (hereinafter referred to as "Powercomm Holdings", "we," "our," "us" and similar terms unless the context indicates otherwise) Powercomm Construction Inc. ("Powercomm Construction") after giving effect to Powercomm Holdings' acquisition of Powercomm Construction that was completed on November 15, 2016 (the "Acquisition Date"). On November 15, 2016, PowerComm Holdings, Inc. a Delaware corporation (the “Company”), entered into a merger agreement (the “Acquisition”) with PowerComm Construction, Inc., a Virginia corporation (“PCC”).The Acquisition was effected by the Company through the exchange of all the outstanding shares of common stock of PCC for 200,000 shares of common stock of the Company. At the time of the Acquisition, there was one shareholder of the Company who is also a shareholder and president of PCC. PCC has become a wholly owned subsidiary of the Company and the Company has taken over its operations and business plan. Prior to the Acquisition, the Company had no ongoing business or operations. Since the Company and PCC were entities under common control prior to the Worldwide Acquisition, the transaction is accounted for as a restructuring transaction. The Company has recast prior period financial statements to reflect the conveyance of PCC’s common shares as if the restructuring transaction had occurred as of the earliest date of the financial statements. The unaudited pro forma condensed combined financial information gives effect to our acquisition of Powercomm Construction based on the assumptions, reclassifications and adjustments described in the unaudited pro forma condensed combined financial information. The unaudited pro forma condensed consolidated statement of operations for the year ended December 31, 2015, and the six months ended June 30, 2016, have been prepared giving effect to the acquisition of PowerComm Construction as if the transaction had occurred on January 1, 2015, the beginning of the earliest period presented. The unaudited pro forma condensed consolidated balance sheet gives effect to the acquisition of PowerComm Construction as if the transaction had occurred as of the earliest date of the financial statements. |