EX-99.2 4 c62751_ex99-2.htm

Exhibit 99.2

 

KAT GOLD HOLDINGS CORP. AND HANDCAMP DIVISION

Consolidated (Unaudited) Condensed Balance Sheet

As of June 30, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KAT Gold
Holdings
Corp.

 

Handcamp
Division

 

(Unaudited)
Adjustments

 

 

(Unaudited)
Total

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and Cash Equivalents

 

$

—

 

$

—

 

$

—

 

 

$

—

 

Security Deposits

 

 

—

 

 

6,900

 

 

—

 

 

 

6,900

 

 

 

TOTAL CURRENT ASSETS

 

 

—

 

 

6,900

 

 

—

 

 

 

6,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

—

 

$

6,900

 

$

—

 

 

$

6,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Payable

 

$

—

 

$

—

 

$

—

 

 

$

—

 

 

 

TOTAL CURRENT LIABILITIES

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock, $.001 par value, 5,000,000 shares authorized, no shares issued or outstanding

 

$

—

 

 

—

 

 

—

 

 

$

—

 

Common stock, $.001 par value, 500,000,000 shares authorized, 67,644,500 shares issued or outstanding

 

 

67,645

 

 

—

 

 

—

 

 

 

67,645

 

Common stock to be issued (96,000,000 common shares)

 

 

96,000

 

 

—

 

 

—

 

 

 

96,000

 

Additional paid in capital

 

 

—

 

 

112,956,549

 

 

(163,645

)

A

 

112,792,904

 

Deficit accumulated during development stage

 

 

(163,645

)

 

(112,949,649

)

 

163,645

 

A

 

(112,949,649

)

 

 

 

TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

—

 

 

6,900

 

 

—

 

 

 

6,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

$

—

 

$

6,900

 

$

—

 

 

$

6,900

 

 

 

See accompanying notes to (unaudited) pro forma financial statements.


 

KAT GOLD HOLDINGS CORP. AND HANDCAMP DIVISION

Consolidated (Unaudited) Condensed Pro Forma Statement of Operations

For the Six Months Ended June 30, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KAT Gold
Holdings
Corp.

 

Handcamp
Division

 

(Unaudited)
ProForma
Adjustments

 

(Unaudited)
ProForma
Total

 

 

 

 

 

 

SALES AND COST OF SALES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$

—

 

$

—

 

$

—

 

$

—

 

Cost of Sales

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

Gross Profit

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REVENUES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

3,175

 

 

212,699

 

 

—

 

 

215,874

 

 

 

 

 

 

 

 

 

 

3,175

 

 

212,699

 

 

—

 

 

215,874

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING LOSS

 

 

(3,175

)

 

(212,699

)

 

—

 

 

(215,874

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER EXPENSE:

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment of Handcamp division asset purchase

 

 

—

 

 

(112,700,000

)

 

—

 

 

(112,700,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS

 

$

(3,175

)

$

(112,912,699

)

$

—

 

$

(112,915,874

)

 

 

 

 

 

 

See accompanying notes to (unaudited) pro forma financial statements.


 

KAT GOLD HOLDINGS CORP. AND HANDCAMP DIVISION

Consolidated (Unaudited) Condensed Pro Forma Statement of Operations

For the Year Ended December 31, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KAT Gold
Holdings
Corp.

 

Handcamp
Division

 

(Unaudited)
ProForma
Adjustments

 

(Unaudited)
ProForma
Total

 

 

 

 

 

 

SALES AND COST OF SALES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$

—

 

$

—

 

$

—

 

$

—

 

Cost of Sales

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

Gross Profit

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER REVENUES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

23,335

 

 

—

 

 

—

 

 

23,335

 

 

 

 

 

 

 

 

 

 

23,335

 

 

—

 

 

—

 

 

23,335

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING LOSS

 

 

(23,335

)

 

—

 

 

—

 

 

(23,335

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER EXPENSE:

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment of Handcamp division asset purchase

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS

 

$

(23,335

)

$

—

 

$

—

 

$

(23,335

)

 

 

 

 

 

 

See accompanying notes to (unaudited) pro forma financial statements.


 

KAT GOLD HOLDINGS CORP. AND HANDCAMP DIVISION

Adjustments to Consolidated (Unaudited) Condensed Pro Forma Statements

June, 2010

A = On May 28, 2010, KAT Gold Holdings Corp. signed a Purchase Agreement to acquire the Handcamp Division from Kat Exploration, Inc. The transaction is accounted for as a reverse purchase acquisition/merger wherein the division is the accounting acquirer and KAT Gold Holdings, Corp. is the legal acquirer. Accordingly, the accounting acquirer records the assets purchased and liabilities assumed as part of the merger and entire equity section of the legal acquirer is eliminated with negative book value acquired offset against the paid in capital of the accounting acquirer.