Amerigo Energy, Inc
Pro-Forma Consolidated Balance Sheet
September 30, 2013
(unaudited)
| Amerigo Energy, Inc | Quest Marketing, Inc | Pro-Forma | Pro-Forma | ||||
|
|
| Adjustments | Consolidated | ||||
ASSETS |
|
|
|
| ||||
Current assets: |
|
|
|
| ||||
Cash | $ | - | $ | 739,318 | $ | - | $ | 739,318 |
Account receivable |
| 1,559 |
| 3,746,698 |
| - |
| 3,748,257 |
Inventory |
| - |
| 1,635,420 |
| - |
| 1,635,420 |
Prepaids |
| 54,119 |
| 58,155 |
| - |
| 112,274 |
Prepaid related party |
| - |
| 370,533 |
| - |
| 370,533 |
Interest receivable |
| 16,266 |
| - |
| - |
| 16,266 |
Loan receivable |
| 78,733 |
| 344,699 |
| - |
| 423,432 |
Total current assets |
| 150,677 |
| 6,894,823 |
| - |
| 7,045,500 |
|
|
|
|
|
|
|
|
|
Fixed assets: |
|
|
|
|
|
|
|
|
Total fixed assets |
| - |
| 104,850 |
| - |
| 104,850 |
|
|
|
|
|
|
|
|
|
Other assets: |
|
|
|
|
|
|
|
|
Deposits |
| 950 |
| 3,450 |
| - |
| 4,400 |
License agreement |
| 2,212,400 |
| - |
| - |
| 2,212,400 |
Total other assets |
| 2,213,350 |
| 3,450 |
| - |
| 2,216,800 |
|
|
|
|
|
|
|
|
|
Total assets | $ | 2,364,027 | $ | 7,003,123 | $ | - | $ | 9,367,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities | $ | 206,490 | $ | 4,074,967 | $ | - | $ | 4,281,457 |
Accounts payable - related party |
| 179,800 |
| - |
| - |
| 179,800 |
Unearned revenue |
| - |
| 46,259 |
| - |
| 46,259 |
Payroll liabilities |
| 243,000 |
| 338,225 |
| - |
| 581,225 |
Sales tax payable |
| - |
| 159,548 |
| - |
| 159,548 |
Loan payable |
| 19,000 |
| - |
| - |
| 19,000 |
Line of credit & interest accrued |
| 95,535 |
| - |
| - |
| 95,535 |
Judgment payable |
| 120,000 |
| - |
| - |
| 120,000 |
Current portion of long-term convertible debt |
| 25,000 |
| - |
| - |
| 25,000 |
Total current liabilities |
| 888,825 |
| 4,618,999 |
| - |
| 5,507,824 |
|
|
|
|
|
|
|
|
|
Long-term liabilities |
|
|
|
|
|
|
|
|
Convertible Note payable |
| 1,975,000 |
| - |
|
|
| 1,975,000 |
Total liabilities |
| 2,863,825 |
| 4,618,999 |
| - |
| 7,482,824 |
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
Preferred stock; $0.001 par value; 25,000,000 shares authorized 3,500,000 shares outstanding as of September 30, 2013 |
| 3,500 |
| - |
| - |
| 3,500 |
Common stock; $0.001 par value; 100,000,000 shares authorized; 25,424,824 shares outstanding of September 30, 2013 |
| 25,424 |
| 293,156 |
| (293,156) |
| 25,424 |
Common stock-authorized and unissued; 755,592 shares and no shares as of September 30, 2013 |
| 2,896 |
| - |
| - |
| 2,896 |
Unamortized stock-based compensation |
| (26,100) |
| - |
| - |
| (26,100) |
Treasury shares |
| (46,000) |
| - |
| - |
| (46,000) |
Additional paid-in capital |
| 15,990,761 |
| - |
| - |
| 15,990,761 |
Accumulated (deficit) |
| (16,450,279) |
| - |
| 293,156 |
| (14,066,155) |
Total Stockholders' Equity |
| (499,798) |
| 2,090,968 |
| - |
| 1,884,326 |
|
|
|
|
|
|
|
|
|
Total Liabilities and Stockholders' Equity | $ | 2,364,027 | $ | 7,003,123 | $ | - | $ | 9,367,150 |
1
Amerigo Energy, Inc
Pro-Forma Consolidated Statement
For the Nine Months Ended September 30, 2013
(unaudited)
| Amerigo Energy, Inc | Quest Marketing, Inc | Pro-Forma | Pro-Forma | ||||
|
|
| Adjustments | Consolidated | ||||
|
|
|
|
| ||||
Revenue |
|
|
|
| ||||
Sales | $ | 2,073 | $ | 22,708,659 | $ | - | $ | 22,710,732 |
Net sales |
| 2,073 |
| 22,708,659 |
| - |
| 22,710,732 |
|
|
|
|
|
|
|
|
|
Cost of sales, related party |
| - |
| 17,459,981 |
| - |
| 17,459,981 |
Cost of sales |
| - |
| (370,533) |
| - |
| (370,533) |
|
|
|
|
|
|
|
|
|
Gross profit |
| 2,073 |
| 5,619,211 |
| - |
| 5,621,284 |
|
|
|
|
|
|
|
|
|
Expenses: |
|
|
|
|
|
|
|
|
Lease operating expenses |
| 282 |
| - |
| - |
| 282 |
Depreciation and amortization |
| - |
| 35,825 |
| - |
| 35,825 |
Consulting expenses |
| 418,781 |
| - |
| - |
| 418,781 |
Salary and employee benefits |
| - |
| 2,840,781 |
| - |
| 2,840,781 |
Professional fees |
| 12,256 |
| - |
| - |
| 12,256 |
General and administrative expenses |
| 13,829 |
| 1,476,491 |
| - |
| 1,490,320 |
Total expenses |
| 445,148 |
| 4,353,097 |
| - |
| 4,798,245 |
|
|
|
|
|
|
|
|
|
(Gain) on settlement of debt |
| (19,195) |
| - |
| - |
| (19,195) |
Interest expenses, net |
| 103,878 |
| - |
| - |
| 103,878 |
|
| 84,683 |
| - |
| - |
| 84,683 |
|
|
|
|
|
|
|
|
|
Net (loss) | $ | (527,758) | $ | 1,266,114 | $ | - | $ | 738,356 |
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
|
|
|
|
| 24,678,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share - basic |
|
|
|
|
|
|
| $0.03 |
2
Amerigo Energy, Inc
Pro-Forma Consolidated Balance Sheet
December 31, 2012
(unaudited)
| Amerigo Energy, Inc | Quest Marketing, Inc | Pro-Forma | Pro-Forma | ||||
|
|
| Adjustments | Consolidated | ||||
ASSETS |
|
|
|
| ||||
Current assets: |
|
|
|
| ||||
Cash | $ | 55 | $ | 117,366 |
| - | $ | 117,421 |
Account receivable |
| - |
| 2,861,084 |
| - |
| 2,861,084 |
Inventory |
|
|
| 149,166 |
| - |
| 149,166 |
Prepaids |
| - |
| 19,592 |
| - |
| 19,592 |
Prepaids, related party |
|
|
| 645,333 |
| - |
| 645,333 |
Loan receivable, related party |
| - |
| 544,575 |
| - |
| 544,575 |
Total current assets |
| 55 |
| 4,337,116 |
| - |
| 4,337,171 |
|
|
|
|
|
|
|
|
|
Fixed assets: |
|
|
|
|
|
|
|
|
Total fixed assets |
| - |
| 60,308 |
| - |
| 60,308 |
|
|
|
|
|
|
|
|
|
Other assets: |
|
|
|
|
|
|
|
|
Deposits |
| 950 |
| 3,450 |
| - |
| 4,400 |
Intangibles |
|
|
| 44,759 |
| - |
| 44,759 |
Total other assets |
| 950 |
| 48,209 |
| - |
| 49,159 |
|
|
|
|
|
|
|
|
|
Total assets | $ | 1,005 | $ | 4,445,633 | $ | - | $ | 4,446,638 |
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
| 38,087 |
| 1,972,401 |
| - |
| 2,010,488 |
Accounts payable - related party |
| 154,732 |
| - |
| - |
| 154,732 |
Sales tax payable |
|
|
| 126,645 |
| - |
| 126,645 |
Payroll liabilities |
| 108,000 |
| 487,707 |
| - |
| 595,707 |
Accrued Interest - related Parties |
| 36,571 |
| - |
| - |
| 36,571 |
Unearned revenue |
|
|
| 88,787 |
| - |
| 88,787 |
Line of credit & interest accrued |
| - |
| 92,199 |
| - |
| 92,199 |
Judgment payable |
| 120,000 |
| - |
| - |
| 120,000 |
Total current liabilities |
| 457,390 |
| 2,767,739 |
| - |
| 3,225,129 |
|
|
|
|
|
|
|
|
|
Total liabilities |
| 457,390 |
| 2,767,739 |
| - |
| 3,225,129 |
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
|
Preferred stock; $0.001 par value; 25,000,000 shares authorized 500,000 shares outstanding as of December 31, 2012 |
| 500 |
| - |
| - |
| 500 |
Common stock; $0.001 par value; 100,000,000 shares authorized; 24,124,824 shares outstanding as of December 31, 2012 |
| 24,124 |
| 293,156 |
| (293,156) |
| 3,379,912 |
Additional paid-in capital |
| 15,441,512 |
| - |
| - |
| 15,441,512 |
Accumulated (deficit) |
| (15,922,521) |
| 1,384,738 |
| 293,156 |
| (17,600,415) |
Total Stockholders' Equity |
| (456,385) |
| 1,677,894 |
| - |
| 1,221,509 |
|
|
|
|
|
|
|
|
|
Total Liabilities and Stockholders' Equity | $ | 1,005 | $ | 4,445,633 | $ | - | $ | 4,446,638 |
3
Amerigo Energy, Inc
Pro-Forma Consolidated Statement
For the Year Ended December 31, 2012
(unaudited)
|
| Amerigo Energy, Inc |
| Quest Marketing, Inc |
| Pro-Forma |
| Pro-Forma | ||||
|
|
|
|
|
| Adjustments |
| Consolidated | ||||
|
|
|
|
|
|
|
|
| ||||
Revenue |
|
|
|
|
|
|
|
| ||||
Sales |
| $ | 1,248 |
| $ | 20,666,119 |
| $ | - |
| $ | 20,667,367 |
Allowance and discounts |
|
| - |
|
| (625,536) |
|
| - |
|
| (625,536) |
Net sales |
|
| 1,248 |
|
| 20,040,583 |
|
| - |
|
| 20,041,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
| - |
|
| 16,168,572 |
|
| - |
|
| 16,168,572 |
Cost of sales - related party |
|
| - |
|
| 700,333 |
|
| - |
|
| 700,333 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
| 1,248 |
|
| 3,171,678 |
|
| - |
|
| 3,172,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Lease operating expenses |
|
| 671 |
|
| - |
|
| - |
|
| 671 |
Depreciation and amortization |
|
| - |
|
| 109,997 |
|
| - |
|
| 109,997 |
Salary and employee benefits |
|
| - |
|
| 2,584,198 |
|
| - |
|
| 2,584,198 |
Professional fees |
|
| 186,326 |
|
| - |
|
| - |
|
| 186,326 |
General and administrative expenses |
|
| 4,635 |
|
| 822,075 |
|
| - |
|
| 826,710 |
Total expenses |
|
| 191,632 |
|
| 3,516,271 |
|
| - |
|
| 3,707,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other (income) expense |
|
| - |
|
| (98,820) |
|
| - |
|
| (98,820) |
Interest expenses, net |
|
| 980 |
|
| 2,158 |
|
| - |
|
| 3,138 |
|
|
| 980 |
|
| (96,662) |
|
| - |
|
| (95,682) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) |
| $ | (191,364) |
| $ | (247,931) |
| $ | - |
| $ | (439,295) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic |
|
|
|
|
|
|
|
|
|
|
| 24,194,398 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share - basic |
|
|
|
|
|
|
|
|
|
|
| ($0.02) |
4