EXHIBIT 99.3
| SIPP INDUSTRIES, INC. |
| CONSOLIDATED BALANCE SHEET |
| Quarter End June 30, 2011 |
| (Unaudited) |
| | | | |
| BALANCE SHEET | | | | |
| | | | | |
| ASSETS | |
| | | | | |
| CURRENT ASSETS | | | | |
| Cash | | $ | – | |
| Accounts Receivable | | | – | |
| Other Receivable | | | – | |
| Inventory | | | – | |
| Prepaid Accounts | | | – | |
| | | | – | |
| | | | | |
| LONG TERM EQUITY INVESTMENT | | | – | |
| FIXED ASSETS – NBV | | | – | |
| INTANGIBLE ASSETS – NBV | | | – | |
| | | $ | – | |
| | | | | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |
| CURRENT LIABILITIES | | | | |
| | | | | |
| Accounts Payable and Accrued Liabilities | | $ | – | |
| Other Payables | | | – | |
| Taxes Payable | | | – | |
| | | | – | |
| | | | | |
| LONG TERM LIABILITIES - | | | – | |
| | | | – | |
| SHAREHOLDERS' EQUITY | | | | |
| CAPITAL STOCK | | | | |
| Common Stock, authorized shares 260,000,000 | | | | |
| Issued and outstanding - 44,857,488 @ PV $.001 | | | 44,857 | |
| Preferred Stock, authorized shares 10,000,000 | | | | |
| Issued and outstanding - 1,000,000 @ PV $.001 | | | | |
| | | | | |
| Additional Paid In Capital | | | (44,857 | ) |
| | | | | |
| Deficit | | | – | |
| | | $ | – | |
| SIPP INDUSTRIES INC. |
| CONSOLIDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS |
| Quarter End June 30, 2011 |
| (Unaudited) |
| EARNINGS | | | |
| REVENUE | | | | |
| Sales | | $ | – | |
| | | | – | |
| TOTAL SALES | | | – | |
| | | | | |
| COST OF SALES | | | | |
| | | | | |
| Cost of Sales | | | – | |
| | | | | |
| TOTAL COST OF SALES | | | – | |
| | | | | |
| GROSS PROFIT | | | – | |
| | | | | |
| OPERATING EXPENSES | | | | |
| | | | | |
| Administrative Expense | | | – | |
| Selling Expense | | | – | |
| | | | | |
| | | | – | |
| | | | | |
| OTHER INCOME & EXPENSES | | | – | |
| | | | | |
| PROFIT (LOSS) | | | 0 | |
| | | | | |
| NET PROFIT (LOSS) | | | 0 | |
| | | | | |
| Deficit - Beginning of period | | | | |
| Deficit - Beginning of period | | | | |
| SIPP INDUSTRIES INC. |
| CONSOLIDATED STATEMENT OF CASH FLOWS |
| Quarter End June 30, 2011 |
| (Unaudited) |
| | | | | |
| CASH FLOWS | | | | |
| | | | | |
| Cash flows from operating activities | | | | |
| Profit/Loss from operations | | $ | – | |
| | | | | |
| Adjustments to cash flows from operating activities: | | | | |
| Amortization of goodwill | | | | |
| Depreciation of fixed assets | | | – | |
| | | | | |
| Cash flows from operating activities | | $ | – | |
| | | | | |
| Cash flows from investing activities: | | | | |
| Capital expenditures | | | | |
| Investment in inventory | | | | |
| Increase in accounts receivable | | | – | |
| Decrease in prepaid expenses | | | – | |
| | | | | |
| Cash used in investing activities | | $ | – | |
| | | | | |
| Cash flows from financing activities: | | | | |
| Increase in accounts payable and accrued liabilities | | | – | |
| Increase in paid-in-capital | | | – | |
| Increase in loans payable | | | – | |
| Issuance of capital stock | | | – | |
| | | | | |
| Cash Used For financing activities | | $ | – | |
| | | | | |
| Net increase (decrease) in cash | | | – | |
| | | | | |
| Cash at beginning of period | | | – | |
| Cash at end of period | | $ | – | |
SIPP INDUSTRIES INC.
CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY
Quarter End June 30, 2011
(Unaudited)
| | | | | | | | | | | | | | | | |
| | | Common | | | Stock | | | PIC | | | | | | | |
| | | Shares | | | Amount | | | Amount | | | R/E | | | Total | |
| Opening Balance | | | 44,857,488 | | | $ | 44,857 | | | $ | (44,857 | ) | | $ | – | | | $ | – | |
| Issuance of stock | | | 0 | | | | – | | | | – | | | | | | | | – | |
| Capital Paid In | | | | | | $ | – | | | $ | – | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Net Profit/Loss | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Bal December 2010 | | | 44,857,488 | | | | 44,857 | | | $ | (44,857 | ) | | $ | – | | | $ | – | |
