Exhibit 99.1
SCHEDULE OF ACQUISITION PRO-FORMA INFORMATION
ALTITUDE INTERNATIONAL HOLDINGS, INC. and BREUNICH HOLDINGS, INC.
Unaudited Proforma Consolidated Balance Sheets
June 30, 2021
| | ALTD | | | BHI | | | Adjustments | | | Consolidated | |
ASSETS | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | |
Cash | | $ | 4,122 | | | $ | 655,784 | | | $ | - | | | $ | 659,906 | |
Accounts receivable | | | - | | | | 443,076 | | | | - | | | | 443,076 | |
Inventory | | | - | | | | 187,031 | | | | - | | | | 187,031 | |
Due from related party | | | - | | | | 212,380 | | | | - | | | | 212,380 | |
Prepaid expense | | | 39,208 | | | | 122,187 | | | | - | | | | 161,395 | |
Total current assets | | | 43,330 | | | | 1,620,458 | | | | - | | | | 1,663,788 | |
Fixed assets, net | | | - | | | | 266,976 | | | | - | | | | 266,976 | |
Other assets - long-term | | | - | | | | 1,816 | | | | - | | | | 1,816 | |
Notes receivabe, non-current | | | - | | | | 37,467 | | | | - | | | | 37,467 | |
| | | | | | | | | | | | | | | | |
Total assets | | $ | 43,330 | | | $ | 1,926,717 | | | $ | - | | | $ | 1,970,047 | |
| | | | | | | | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | |
Notes payable | | $ | 20,800 | | | $ | - | | | $ | - | | | $ | 20,800 | |
Accounts payable and accrued expenses | | | 55,008 | | | | 509,121 | | | | - | | | | 564,129 | |
Due to Breunich Holding Inc. | | | 193,328 | | | | - | | | | (193,328 | )(a) | | | - | |
Stockholders' advance | | | 36,211 | | | | - | | | | - | | | | 36,211 | |
Deferred revenue | | | 126,037 | | | | 814,918 | | | | - | | | | 940,955 | |
Total current liabilities | | | 431,384 | | | | 1,324,039 | | | | (193,328 | ) | | | 1,562,095 | |
Notes payable, non-current | | | - | | | | 1,530,444 | | | | - | | | | 1,530,444 | |
Total liabilities | | | 431,384 | | | | 1,324,039 | | | | (193,328 | ) | | | 1,562,095 | |
| | | | | | | | | | | | | | | | |
Commitments and contingencies | | | - | | | | - | | | | - | | | | - | |
| | | | | | | | | | | | | | | | |
Stockholders' deficit | | | | | | | | | | | | | | | | |
Preferred stock | | | - | | | | - | | | | - | | | | - | |
Common stock | | | 6,175,574 | | | | 5,643 | | | | (5,643 | )(a) | | | 6,175,574 | |
Additional paid in capital | | | (175,279 | ) | | | 2,140,857 | | | | (2,875,298 | )(a) | | | (909,720 | ) |
Accumulated deficit | | | (6,388,349 | ) | | | (3,074,269 | ) | | | 3,074,269 | (a) | | | (6,388,349 | ) |
Total stockholders' deficit | | | (388,054 | ) | | | (927,769 | ) | | | 193,328 | | | | (1,122,495 | ) |
Total liabilities and stockholders' deficit | | $ | 43,330 | | | $ | 396,270 | | | $ | - | | | $ | 439,600 | |
(a) To reflect the issuance of 295,986,724 shares of Altitude Holdings, Inc.'s common stock pursuant to the Exchange Ratio in the merger agreement.
ALTITUDE INTERNATIONAL HOLDINGS, INC.
Unaudited Proforma Statement of Operations
For the Six Months ended June 30, 2021
(unaudited)
| | ALTD | | | BHI | | | Adjustments | | | Consolidated | |
| | | | | | | | | | | | |
Revenue | | $ | - | | | $ | 3,575,981 | | | $ | - | | | $ | 3,575,981 | |
| | | | | | | | | | | | | | | | |
Operating expenses | | | | | | | | | | | | | | | | |
Direct costs of revenue | | | - | | | | 697,569 | | | | - | | | | 697,569 | |
Professional fees | | | 107,567 | | | | 183,210 | | | | - | | | | 290,777 | |
Salary expenses | | | 65,435 | | | | 1,323,500 | | | | - | | | | 1,388,935 | |
Stock-based compensation | | | 2,978,108 | | | | - | | | | - | | | | 2,978,108 | |
Impairment expense | | | - | | | | 960,000 | | | | - | | | | 960,000 | |
Travel and entertainment | | | - | | | | 33,622 | | | | - | | | | 33,622 | |
Depreciation and amortization | | | - | | | | 21,085 | | | | - | | | | 21,085 | |
General and administrative - expense - related party | | | - | | | | 3,500 | | | | - | | | | 3,500 | |
Other general and administrative expenses | | | 60,444 | | | | 1,335,118 | | | | - | | | | 1,395,562 | |
Total operating expenses | | | 3,211,554 | | | | 4,557,604 | | | | - | | | | 7,769,158 | |
Loss from operations | | | (3,211,554 | ) | | | (981,623 | ) | | | - | | | | (4,193,177 | ) |
| | | | | | | | | | | | | | | | |
Other income (expenses) | | | | | | | | | | | | | | | | |
Gain on settlement of debt | | | 41,254 | | | | - | | | | - | | | | 41,254 | |
Interest expense | | | (3,991 | ) | | | (17,865 | ) | | | - | | | | (21,856 | ) |
Total other income (expenses) | | | 37,263 | | | | (17,865 | ) | | | - | | | | 19,398 | |
Net loss | | $ | (3,174,291 | ) | | $ | (999,488 | ) | | $ | - | | | $ | (4,173,779 | ) |
| | | | | | | | | | | | | | | | |
Earnings per share - basic and fully diluted | | $ | (0.06 | ) | | | | | | | | | | $ | (0.07 | ) |
| | | | | | | | | | | | | | | | |
Weighted average number of shares of common stock - basic and fully diluted | | | 56,940,822 | | | | | | | | | | | | 56,940,822 | |
SCHEDULE OF ACQUISITION PRO-FORMA INFORMATION
ALTITUDE INTERNATIONAL HOLDINGS, INC. and BREUNICH HOLDINGS, INC.
Unaudited Proforma Consolidated Balance Sheets
December 31, 2020
| | ALTD | | | BHI | | | Adjustments | | | Consolidated | |
ASSETS | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | |
Cash | | $ | 485 | | | $ | 133,518 | | | $ | - | | | $ | 134,003 | |
Accounts receivable | | | - | | | | 269,962 | | | | - | | | | 269,962 | |
Inventory | | | - | | | | 50,536 | | | | - | | | | 50,536 | |
Prepaid expense | | | 3,000 | | | | 199,003 | | | | - | | | | 202,003 | |
Total current assets | | | 3,485 | | | | 653,019 | | | | - | | | | 656,504 | |
Fixed assets, net | | | - | | | | 286,099 | | | | - | | | | 286,099 | |
| | | | | | | | | | | | | | | | |
Total assets | | $ | 3,485 | | | $ | 939,118 | | | $ | - | | | $ | 942,603 | |
| | | | | | | | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | |
Notes payable - related party | | $ | 69,200 | | | $ | - | | | $ | - | | | $ | 69,200 | |
Notes payable | | | 20,800 | | | | 913,768 | | | | - | | | | 934,568 | |
Accounts payable and accrued expenses | | | 62,053 | | | | 400,328 | | | | - | | | | 462,381 | |
Accounts payable and accrued expenses - related party | | | 113,422 | | | | - | | | | - | | | | 113,422 | |
Payroll taxes payable | | | - | | | | 4,327 | | | | - | | | | 4,327 | |
Stockholders' advance | | | 36,211 | | | | - | | | | - | | | | 36,211 | |
PPP loan | | | - | | | | 30,595 | | | | - | | | | 30,595 | |
Deferred revenue | | | - | | | | 1,378,502 | | | | - | | | | 1,378,502 | |
Total current liabilities | | | 301,686 | | | | 2,727,520 | | | | - | | | | 3,029,206 | |
SBA Loans | | | - | | | | 263,300 | | | | - | | | | - | |
Total liabilities | | | 301,686 | | | | 2,990,820 | | | | - | | | | 3,029,206 | |
| | | | | | | | | | | | | | | | |
Commitments and contingencies | | | - | | | | - | | | | - | | | | - | |
| | | | | | | | | | | | | | | | |
Stockholders' deficit | | | | | | | | | | | | | | | | |
Preferred stock | | | - | | | | - | | | | - | | | | - | |
Common stock | | | 3,091,136 | | | | - | | | | - | | | | 3,091,136 | |
Additional paid in capital | | | (175,279 | ) | | | 100 | | | | (2,051,802 | )(a) | | | (2,226,981 | ) |
Members' deficit | | | - | | | | (1,981,343 | ) | | | 1,981,343 | (a) | | | - | |
Non-controlling member's deficit | | | - | | | | (44,454 | ) | | | 44,454 | (a) | | | - | |
Accumulated deficit | | | (3,214,058 | ) | | | (26,005 | ) | | | 26,005 | (a) | | | (3,214,058 | ) |
Total stockholders' deficit | | | (298,201 | ) | | | (2,051,702 | ) | | | - | | | | (2,349,903 | ) |
Total liabilities and stockholders' deficit | | $ | 3,485 | | | $ | 939,118 | | | $ | - | | | $ | 679,303 | |
(a) To reflect the issuance of 295,986,724 shares of Altitude Holdings, Inc.'s common stock pursuant to the Exchange Ratio in the merger agreement.
ALTITUDE INTERNATIONAL HOLDINGS, INC.
Unaudited Proforma Statement of Operations
For the Year ended December 31, 2020
(unaudited)
| | ALTD | | | BHI | | | Adjustments | | | Consolidated | |
| | | | | | | | | | | | |
Revenue | | $ | 1,186 | | | $ | 5,524,410 | | | $ | - | | | $ | 5,525,596 | |
| | | | | | | | | | | | | | | | |
Operating expenses | | | | | | | | | | | | | | | | |
Direct costs of revenue | | | - | | | | 874,348 | | | | - | | | | 874,348 | |
Professional fees | | | 52,833 | | | | 106,639 | | | | - | | | | 159,472 | |
Salary expenses | | | 125,000 | | | | 2,822,040 | | | | - | | | | 2,947,040 | |
Stock-based compensation | | | 13,168 | | | | - | | | | - | | | | 13,168 | |
Impairment expense | | | 10,141 | | | | 378,433 | | | | - | | | | 388,574 | |
Travel and entertainment | | | - | | | | 260,679 | | | | - | | | | 260,679 | |
Depreciation and amortization | | | - | | | | 51,189 | | | | - | | | | 51,189 | |
Other general and administrative expenses | | | 74,502 | | | | 1,618,101 | | | | - | | | | 1,692,603 | |
Total operating expenses | | | 275,644 | | | | 6,111,429 | | | | - | | | | 6,387,073 | |
Loss from operations | | | (274,458 | ) | | | (587,019 | ) | | | - | | | | (861,477 | ) |
| | | | | | | | | | | | | | | | |
Other income (expenses) | | | | | | | | | | | | | | | | |
Loss on conversion of debt to common stock | | | (39,734 | ) | | | - | | | | - | | | | (39,734 | ) |
Other income | | | - | | | | 507,207 | | | | - | | | | 507,207 | |
Interest expense | | | (14,355 | ) | | | (45,486 | ) | | | - | | | | (59,841 | ) |
Total other income (expenses) | | | (54,089 | ) | | | 461,721 | | | | - | | | | 407,632 | |
Net loss | | | (328,547 | ) | | | (125,298 | ) | | | - | | | | (453,845 | ) |
Net loss attributable to noncontrolling interests | | | - | | | | (20,011 | ) | | | - | | | | - | |
Net loss | | $ | (328,547 | ) | | $ | (105,287 | ) | | $ | - | | | $ | (453,845 | ) |
| | | | | | | | | | | | | | | | |
Earnings per share - basic and fully diluted | | $ | (0.01 | ) | | | | | | | | | | $ | (0.01 | ) |
| | | | | | | | | | | | | | | | |
Weighted average number of shares of common stock - basic and fully diluted | | | 45,323,448 | | | | | | | | | | | | 45,323,448 | |