Exhibit 99.2
CREATIVE DOMAIN INVESTMENTS/ B2DIGITAL, INC. | ||||||||||||||||||||||
UNAUDITED CONDENSED COMBINED PRO FORMA BALANCE SHEET | ||||||||||||||||||||||
Creative | ||||||||||||||||||||||
Domain | Adjusted | |||||||||||||||||||||
Investments | B2Digital, Inc. | Combined | Pro Forma | ProForma | ||||||||||||||||||
as of December 31, 2006 | Totals | Adjustments | Totals | |||||||||||||||||||
ASSETS | ||||||||||||||||||||||
Current Assets: | ||||||||||||||||||||||
Cash | $ | - | $ | 172,994 | $ | 172,994 | $ | - | $ | 172,994 | ||||||||||||
Accounts receivable | - | 61,304 | 61,304 | - | 61,304 | |||||||||||||||||
Total Current Assets | - | 234,298 | 234,298 | - | 234,298 | |||||||||||||||||
Fixed Assets, Net: | - | 78,800 | 78,800 | - | 78,800 | |||||||||||||||||
Other Assets | ||||||||||||||||||||||
Video conferencing technology | - | - | - | 200,000 | (1 | ) | 199,999 | |||||||||||||||
Total Other Assets | - | - | - | 200,000 | 200,000 | |||||||||||||||||
TOTAL ASSETS | $ | - | $ | 313,098 | $ | 313,098 | $ | 200,000 | $ | 513,098 | ||||||||||||
LIABILITIES AND STOCKHOLDERS' | ||||||||||||||||||||||
EQUITY (DEFICIT) | ||||||||||||||||||||||
Current Liabilities: | ||||||||||||||||||||||
Accounts payable | $ | - | $ | 1,003,484 | $ | 1,003,484 | $ | - | $ | 1,003,484 | ||||||||||||
Notes payable | - | 205,750 | 205,750 | - | 205,750 | |||||||||||||||||
Total Current Liabilities | - | 1,209,234 | 1,209,234 | - | 1,209,234 | |||||||||||||||||
Long-Term Liabilities: | ||||||||||||||||||||||
Notes payable | - | 1,438,678 | 1,438,678 | - | 1,438,678 | |||||||||||||||||
Total Long-Term Debt | - | 1,438,678 | 1,438,678 | - | 1,438,678 | |||||||||||||||||
Total Liabilities | - | 2,647,912 | 2,647,912 | - | 2,647,912 | |||||||||||||||||
Stockholders' Equity (Deficit): | ||||||||||||||||||||||
Preferred stock | - | - | - | - | - | |||||||||||||||||
Common stock | 835 | 835 | 4 | (1 | ) | 839 | ||||||||||||||||
Additional paid-in capital | - | 9,935,553 | 9,935,553 | 199,996 | (1 | ) | 10,135,549 | |||||||||||||||
Stock subscription receivable | - | (186,940 | ) | (186,940 | ) | - | (186,940 | ) | ||||||||||||||
Accumulated deficit | - | (12,084,262 | ) | (12,084,262 | ) | - | (12,084,262 | ) | ||||||||||||||
Total Stockholders' Equity (Deficit) | - | (2,334,814 | ) | (2,334,814 | ) | 200,000 | (2,134,814 | ) | ||||||||||||||
TOTAL LIABILITIES AND | ||||||||||||||||||||||
STOCKHOLDERS' EQUITY (DEFICIT) | $ | - | $ | 313,098 | $ | 313,098 | $ | 200,000 | $ | 513,098 | ||||||||||||
ENTRIES FOR PROFORMA CONSOLIDATION | ||||||||||||||||||||||
____________________________ | ||||||||||||||||||||||
(1)To record the issuance of 400,000 common shares for the acquisition of video conferencing technology from Creative Domain Investments, Ltd. |
CREATIVE DOMAIN INVESTMENTS/ B2DIGITAL, INC. | ||||||||||||||||
UNAUDITED CONDENSED COMBINED PRO FORMA STATEMENT OF OPERATIONS | ||||||||||||||||
For the Nine Months Ended December 31, 2006 | ||||||||||||||||
Creative | Pro-Forma | |||||||||||||||
Domain | Adjusted | |||||||||||||||
Investments | B2Digital, Inc. | Combined | Combined | |||||||||||||
as of December 31, 2006 | Totals | Adjustments | Totals | |||||||||||||
REVENUES | ||||||||||||||||
Sales | $ | - | $ | 220,799 | $ | 220,799 | $ | - | $ | 220,799 | ||||||
Total Revenues | - | 220,799 | 220,799 | - | 220,799 | |||||||||||
COST OF SALES | - | 102,300 | 102,300 | - | 102,300 | |||||||||||
GROSS PROFIT | - | 118,499 | 118,499 | - | 118,499 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
General and administrative | - | 881,137 | 881,137 | - | 881,137 | |||||||||||
Bad debts | - | 40,000 | 40,000 | - | 40,000 | |||||||||||
Total Operating Expenses | - | 921,137 | 921,137 | - | 921,137 | |||||||||||
OPERATING LOSS | - | (802,638 | ) | (802,638 | ) | - | (802,638 | ) | ||||||||
OTHER INCOME (EXPENSE) | ||||||||||||||||
Interest expense | - | (87,375 | ) | (87,375 | ) | - | (87,375 | ) | ||||||||
Other income | - | 5,000 | 5,000 | - | 5,000 | |||||||||||
Total Other Income (Expense) | - | (82,375 | ) | (82,375 | ) | - | (82,375 | ) | ||||||||
NET INCOME BEFORE INCOME TAXES | - | (885,013 | ) | (885,013 | ) | - | (885,013 | ) | ||||||||
INCOME TAX EXPENSE | - | - | - | - | - | |||||||||||
NET INCOME BEFORE INCOME TAXES | $ | - | $ | (885,013 | ) | $ | (885,013 | ) | $ | - | $ | (885,013 | ) |