Exhibit 99.4
UNAUDITED PRO FORMA FINANCIAL INFORMATION
The Unaudited Pro Forma Financial Information reflects financial information,
which gives effect to the acquisition of all of the outstanding common shares
of Hydrogen Hybrid Technologies, Inc. ("HHT") (a Canadian Corporation) in
exchange for 49,500,000 shares of common stock of Eaton Laboratories, Inc.
("ETLB") (a Nevada Corporation).
The Pro Forma Statements included herein reflect the use of the purchase method
of accounting for the above transaction. The acquisition of HHT, which closed
on March 30, 2007 was accounted for as a reverse acquisition as the former
stockholders of HHT controlled the voting common shares of the Company
immediately after the acquisition. Such financial information has been
prepared from, and should be read in conjunction with, the historical
unaudited financial statements of ETLB and HHT included in this memorandum.
The Pro Forma Balance Sheet gives effect to the transaction as if it had
occurred on December 31, 2006. The Pro Forma Statement of Operations gives
effect to the transaction as if it had occurred at the beginning of the
earliest period presented, combining the results of ETLB for the period
ended December 31, 2006.
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Eaton Laboratories, Inc. (ETLB)
Pro Forma Condensed Consolidated Balance Sheet
Expressed in US Dollars
As of December 31, 2006
(Unaudited)
Historical Historical Pro forma Pro forma
ASSETS ETLB HHT Adjustments ETLB
- -------------------------------------------------------------------------------
Current assets:
Cash and cash equivalents $ 1 $ 932 - $ 933
Note receivable - 298,272 298,272
------------------------- ------------
Total current assets 1 299,272 - 299,273
------------------------- ------------
Distribution Rights 4,254,100 - 4,254,100
------------------------- ------------
Total assets $ 1 $ 4,553,304 - $ 4,553,305
========================= ============
LIABILITIES AND STOCKHOLERS' EQUITY
Current liabilities:
Accounts payable and
accrued liabilities $ 5,000 $ 444,503 - $ 449,503
------------------------- ------------
Total current liabilities 5,000 444,503 - 449,503
------------------------- ------------
Total Liabilities 5,000 444,503 - 449,503
------------------------- ------------
Stockholders' equity:
Common stock 10,873 82 - 10,955
Additional paid in capital 386,626 - - 386,626
Special Warrants Subscribed 4,362,784 - 4,362,784
Retained earnings (402,498) (258,244) - (660,742)
Accumulated Other
Comprehensive Loss - 4,179 4,179
------------------------- ------------
Total shareholders'
equity (deficit) (4,999) 4,108,801 - 4,103,802
------------------------- ------------
Total liabilities and
Shareholders' equity $ 1 $ 4,553,304 - $ 4,553,305
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Eaton Laboratories, Inc. (ETLB)
Pro Forma Condensed Consolidated Statements of Operations
Expressed in US Dollars
As of December 31, 2006
(Unaudited)
Historical Historical Pro forma Pro forma
ETLB HHT Adjustments ETLB
- -------------------------------------------------------------------------------
Revenue, net $ - $ 5,193 $ 5,193
Expenses:
Consulting - management - 80,771 80,771
General and administrative 247 2,552 2,799
R&D Expenses - - -
--------------------------------------------------
Net income (loss) (247) (78,130) (78,377)
==================================================
Basic and diluted income
(loss) per common share $ (0.00) $ (0.003) $ (0.001)
========================= ==========
Weighted average number
of common shares
outstanding 10,873,750 30,000,000 19,500,000 60,373,750
========================= ========== ==========
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Note 1
The acquisition has been accounted for as a reverse acquisition under the
purchase method for business combinations. The combination of the two
companies is recorded as a recapitalization of Hydrogen Hybrid Technologies,
Inc. pursuant to which Hydrogen Hybrid Technologies, Inc. is treated as the
continuing entity.
Because the acquisition was accounted for as a reverse acquisition, there was
neither goodwill recognized nor any adjustments to the book value of the net
assets of Hydrogen Hybrid Technologies, Inc. that would affect the pro forma
statement of operations.
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