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v3.20.4

Pro Forma Statement of Operations - USD ($) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2020 | Dec. 31, 2019
Red Cat |  |
Revenues | $ 1,216,986 |
Cost of goods sold | 794,871 |
Gross Margin | 422,115 |
Operating Expenses |  |
Operations | 84,876 |
Research and development | 141,401 | 519,467
Sales and marketing | 26,917 |
General and administrative | 1,482,670 | 531,964
Total operating expenses | 1,735,864 | 1,051,431
Operating income (loss) | (1,313,749) | (1,051,431)
Interest expense | 93,811 |
Provision for income taxes |  |
Other expense, net | 93,811 |
Net income (loss) | (1,407,560) | (1,051,431)
Fat Shark |  |
Revenues | 4,436,439 | 7,298,640
Cost of goods sold | 3,463,995 | 5,799,156
Gross Margin | 972,444 | 1,499,484
Operating Expenses |  |
Operations | 119,063 |
Research and development | 207,514 | 391,741
Sales and marketing | 57,678 | 180,496
General and administrative | 280,562 | 677,005
Total operating expenses | 664,817 | 1,249,242
Operating income (loss) | 307,627 | 250,242
Interest expense |  | 0
Provision for income taxes |  |
Other expense, net |  |
Net income (loss) | 307,627 | 250,242
Adjustments |  |
Revenues |  |
Cost of goods sold |  |
Gross Margin |  |
Operating Expenses |  |
Operations |  |
Research and development |  |
Sales and marketing |  |
General and administrative | 75,000 | 100,000
Total operating expenses | 75,000 | 100,000
Operating income (loss) | (75,000) | (100,000)
Interest expense | 33,750 | 45,000
Provision for income taxes |  |
Other expense, net | 33,750 | 45,000
Net income (loss) | (108,750) | (145,000)
Pro-Forma |  |
Revenues | 5,653,425 | 7,298,640
Cost of goods sold | 4,258,866 | 5,799,156
Gross Margin | 1,394,559 | 1,499,484
Operating Expenses |  |
Operations | 203,939 |
Research and development | 348,915 | 911,208
Sales and marketing | 84,595 | 180,496
General and administrative | 1,838,232 | 1,308,969
Total operating expenses | 2,475,681 | 2,400,673
Operating income (loss) | (1,081,122) | (901,189)
Interest expense | 127,561 | 45,000
Provision for income taxes |  |
Other expense, net | 127,561 | 45,000
Net income (loss) | $ (1,208,683) | $ (946,189)

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