|
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
|
)
|
|||