EX-99.2 5 ex99_2.htm EX992 ex99_2.htm
EXHIBIT 99.2


Unaudited pro forma condensed combined balance sheet as of June 30, 2009; and unaudited pro forma condensed combined statement of operations for the six months ended June 30, 2009; and unaudited pro forma condensed combined balance sheet as of December 31, 2008; and unaudited pro forma condensed combined statement of operations for the year ended December 31, 2008
 
 
 
ALBA MINERAL EXPLORATION, INC.
 
 
 

 
 
 

 
 
ALBA MINDERAL EXPLORATION, INC.
Unaudited Condensed Combined Pro Forma Balance Sheet
 
 

                               
 
       
Alba
 
Diamond
 
 
         
 
         
Mineral
 
Information
 
 
         
Adjusted
         
Exploration, Inc.
Institute, Inc.
Combined
 
Pro Forma
     
ProForma
         
June 30, 2009
June 30, 2009
Totals
 
Adjustments
AJE
 
Totals
         
(Unaudited)
 
(Unaudited)
               
ASSETS
                       
                               
Current Assets:
                     
 
Cash
 
 $            17,104
 
 $                      -
 
 $          17,104
 
 $                    -
   
 
 $          17,104
 
Accounts Receivable
                         -
 
             329,549
 
           329,549
 
                       -
     
           329,549
 
Inventory
                         -
 
          1,458,836
 
        1,458,836
 
                       -
     
        1,458,836
 
Prepaid Expenses
                         -
 
                 2,899
 
               2,899
 
                       -
     
               2,899
                 
 
           
   
Total Current Assets
               17,104
 
          1,791,284
 
        1,808,388
 
                       -
     
        1,808,388
                 
 
         
 
Property and Equipment
                         -
 
             180,146
 
           180,146
 
                       -
     
           180,146
                               
Other Assets
                     
 
Investment in Unconsolidated Affiliate
                         -
 
                 5,000
 
               5,000
 
                       -
     
               5,000
                               
   
Total Other Assets
                         -
 
                 5,000
 
               5,000
 
                       -
     
               5,000
                 
 
           
 
 
TOTAL ASSETS
 $            17,104
 
 $       1,976,430
 
 $     1,993,534
 
 $                    -
   
 
 $     1,993,534
                 
 
           
LIABILITIES AND STOCKHOLDERS'
       
 
           
 
EQUITY (DEFICIT)
                     
                               
Current Liabilities:
       
 
           
 
Accounts Payable and Accrued Expenses
 $            25,485
 
 $          434,144
 
 $        459,629
 
 $                    -
     
 $        459,629
 
Related Party Payable
                         -
 
             407,566
 
           407,566
 
                       -
     
           407,566
 
Cash Overdraft
                         -
 
               26,925
 
             26,925
 
                       -
     
             26,925
 
Bank Lines of Credit, net
                         -
 
             922,858
 
           922,858
 
                       -
     
           922,858
 
Current Maturities of Notes Payable
                         -
 
               80,335
 
             80,335
 
                       -
     
             80,335
 
Current Maturities of Capital Leases
                         -
 
               21,343
 
             21,343
 
                       -
     
             21,343
 
Sales Returns and Allowances Reserve
                         -
 
               68,920
 
             68,920
 
                       -
     
             68,920
                               
   
Total Current Liabilities
               25,485
 
          1,962,091
 
        1,987,576
 
                       -
     
        1,987,576
                 
 
           
Long-Term Liabilities:
       
 
           
 
Notes Payable
                         -
 
             138,542
 
           138,542
 
                       -
     
           138,542
 
Capital Leases
                         -
 
               28,619
 
             28,619
 
                       -
     
             28,619
                 
 
           
   
Total Long-Term Payables
                         -
 
             167,161
 
           167,161
 
                       -
   
 
           167,161
                 
 
           
   
Total Liabilities
               25,485
 
          2,129,252
 
        2,154,737
 
                       -
   
 
        2,154,737
                 
 
           
Stockholders' Equity:
       
 
           
 
Preferred Stock
                         -
 
                         -
 
                       -
 
                       -
   
 
                       -
 
Common Stock
                 5,033
 
               11,814
 
             16,847
 
              (3,310)
 
2
 
               4,308
                     
               2,585
 
3
   
                     
            (11,814)
 
4
   
 
Additional Paid-in Capital
               30,312
 
          1,653,535
 
        1,683,847
 
            (43,726)
 
1
 
        1,652,660
                     
               3,310
 
2
   
                     
              (2,585)
 
3
   
                     
             11,814
 
4
   
 
Accumulated Deficit
              (43,726)
 
         (1,818,171)
 
       (1,861,897)
 
             43,726
 
1
 
       (1,818,171)
                 
 
 
 
   
 
   
Total Stockholders' Equity
                (8,381)
 
            (152,822)
 
          (161,203)
 
                       -
   
 
          (161,203)
           
 
 
 
       
 
TOTAL LIABILITIES
       
 
       
 
 
AND STOCKHOLDERS'
                     
 
EQUITY (DEFICIT)
 $            17,104
 
 $       1,976,430
 
 $     1,993,534
 
 $                    -
   
 
 $     1,993,534
                               
                 
 
           
         
                         -
 
                         -
 
                       -
 
                       -
   
 
                       -
                               
 
1
To eliminate accumulated deficit of Alba Mineral Exploration, Inc. to reflect reverse merger.
       
 
2
To record cancelation of 3,310,000 shares of common stock.
               
 
3
To record issuance of 2,585,175 shares of common stock to acquire 100% of the common shares of Diamond Information Institute, Inc.
 
4
To eliminate common stock of Diamond Information Institute, Inc.
               
                               
 
 
 
 
 
 

 
 
ALBA MINERAL EXPLORATION, INC.
Unaudited Condensed Combined Pro Forma Statement of Operations
 
 
                             
 
                             
 
         
Alba
 
Diamond
               
         
Mineral
 
Information
               
         
Exploration, Inc.
 
Institute, Inc.
             
Pro-Forma
         
For the Six
 
For the Six
             
Adjusted
         
Months Ended
 
Months Ended
 
Combined
 
Pro Forma
     
Combined
         
June 30, 2009
 
June 30, 2009
 
Totals
 
Adjustments
 
AJE
 
Totals
         
(Unaudited)
 
(Unaudited)
               
                               
REVENUES
 
 $                        -
 
 $              454,307
 
 $       454,307
 
 $                -
     
 $       454,307
COST OF SALES
                           -
 
                 361,694
 
          361,694
 
                   -
     
          361,694
                 
 
         
 
GROSS PROFIT
                           -
 
                   92,613
 
            92,613
 
                   -
     
            92,613
                 
 
         
 
OPERATING EXPENSES
       
 
         
 
                 
 
         
 
 
General and Administrative
                     5,826
 
                 180,547
 
          186,373
 
                   -
     
          186,373
 
Selling Expenses
                           -
 
                 130,272
 
          130,272
 
                   -
     
          130,272
 
Share-Based Compensation
                           -
 
                   10,000
 
            10,000
 
                   -
     
            10,000
 
Common Stock Issued for Services
                           -
 
                   44,000
 
            44,000
 
                   -
     
            44,000
                 
 
         
 
   
Total Costs and Expenses
                     5,826
 
                 364,819
 
          370,645
 
                   -
     
          370,645
                 
 
         
 
   
OPERATING LOSS
                   (5,826)
 
               (272,206)
 
        (278,032)
 
                   -
     
        (278,032)
                 
 
         
 
OTHER INCOME (EXPENSE)
       
 
         
 
                 
 
         
 
 
Interest Expense
                           -
 
                 (45,647)
 
          (45,647)
 
                   -
     
          (45,647)
 
Gain (loss) on Sale of Assets
                           -
 
                     1,158
 
              1,158
 
                   -
     
              1,158
                               
   
Total Other Income (Expense)
                           -
 
                 (44,489)
 
          (44,489)
 
                   -
     
          (44,489)
                               
   
Loss Before Taxes
                   (5,826)
 
               (316,695)
 
        (322,521)
 
                   -
     
        (322,521)
                               
INCOME TAX PROVISION (BENEFIT)
                           -
 
                     2,080
 
              2,080
 
                   -
     
              2,080
                 
 
         
 
 
 
NET LOSS
 $                (5,826)
 
 $            (318,775)
 
 $     (324,601)
 
 $                -
     
 $     (324,601)
                               
 
 
 
 
 
 

 
 
 
ALBA MINERAL EXPLORATION, INC.
Unaudited Condensed Combined Pro Forma Balance Sheet
 
 
 
 
       
Alba
 
Diamond
 
 
         
 
         
Mineral
 
Information
 
 
         
Adjusted
         
Exploration, Inc.
Institute, Inc.
Combined
 
Pro Forma
     
ProForma
         
December 31, 2008
December 31, 2008
Totals
 
Adjustments
AJE
 
Totals
             
 
               
ASSETS
                       
                               
Current Assets:
                     
 
Cash
 
 $               21,430
 
 $                      -
 
 $          21,430
 
 $                    -
   
 
 $          21,430
 
Accounts Receivable
                            -
 
             713,194
 
           713,194
 
                       -
     
           713,194
 
Inventory
                            -
 
          1,326,989
 
        1,326,989
 
                       -
     
        1,326,989
 
Prepaid Expenses
                            -
 
               39,138
 
             39,138
 
                       -
     
             39,138
                 
 
           
   
Total Current Assets
                  21,430
 
          2,079,321
 
        2,100,751
 
                       -
     
        2,100,751
                 
 
         
 
Property and Equipment
                            -
 
             160,983
 
           160,983
 
                       -
     
           160,983
                               
Other Assets
                     
 
Investment in Unconsolidated Affiliate
                            -
 
                 5,000
 
               5,000
 
                       -
     
               5,000
                               
   
Total Other Assets
                            -
 
                 5,000
 
               5,000
 
                       -
     
               5,000
                 
 
           
 
 
TOTAL ASSETS
 $               21,430
 
 $       2,245,304
 
 $     2,266,734
 
 $                    -
   
 
 $     2,266,734
                 
 
           
LIABILITIES AND STOCKHOLDERS'
       
 
           
 
EQUITY (DEFICIT)
                     
                               
Current Liabilities:
       
 
           
 
Accounts Payable and Accrued Expenses
 $               23,985
 
 $          446,892
 
 $        470,877
 
 $                    -
     
 $        470,877
 
Related Party Payable
                            -
 
             394,532
 
           394,532
 
                       -
     
           394,532
 
Cash Overdraft
                            -
 
                 7,345
 
               7,345
 
                       -
     
               7,345
 
Bank Lines of Credit, net
                            -
 
             910,449
 
           910,449
 
                       -
     
           910,449
 
Current Maturities of Notes Payable
                            -
 
               82,015
 
             82,015
 
                       -
     
             82,015
 
Current Maturities of Capital Leases
                            -
 
               23,402
 
             23,402
 
                       -
     
             23,402
 
Sales Returns and Allowances Reserve
                            -
 
             132,353
 
           132,353
 
                       -
     
           132,353
                               
   
Total Current Liabilities
                  23,985
 
          1,996,988
 
        2,020,973
 
                       -
     
        2,020,973
                 
 
           
Long-Term Liabilities:
       
 
           
 
Notes Payable
                            -
 
               97,270
 
             97,270
 
                       -
     
             97,270
 
Capital Leases
                            -
 
               39,092
 
             39,092
 
                       -
     
             39,092
                 
 
           
   
Total Long-Term Payables
                            -
 
             136,362
 
           136,362
 
                       -
   
 
           136,362
                 
 
           
   
Total Liabilities
                  23,985
 
          2,133,350
 
        2,157,335
 
                       -
   
 
        2,157,335
                 
 
           
Stockholders' Equity:
       
 
           
 
Preferred Stock
                            -
 
                         -
 
                       -
 
                       -
   
 
                       -
 
Common Stock
                    5,033
 
               11,643
 
             16,676
 
              (3,310)
 
2
 
               4,308
                     
               2,585
 
3
   
                     
            (11,643)
 
4
   
 
Additional paid-in Capital
                  30,312
 
          1,599,707
 
        1,630,019
 
            (37,900)
 
1
 
        1,604,487
                     
               3,310
 
2
   
                     
              (2,585)
 
3
   
                     
             11,643
 
4
   
 
Accumulated Deficit
                (37,900)
 
         (1,499,396)
 
       (1,537,296)
 
             37,900
 
1
 
       (1,499,396)
                 
 
 
 
   
 
   
Total Stockholders' Equity
                  (2,555)
 
             111,954
 
           109,399
 
                       -
   
 
           109,399
           
 
 
 
       
 
TOTAL LIABILITIES
       
 
       
 
 
AND STOCKHOLDERS'
                     
 
EQUITY (DEFICIT)
 $               21,430
 
 $       2,245,304
 
 $     2,266,734
 
 $                    -
   
 
 $     2,266,734
                               
                 
 
           
         
                            -
 
                         -
 
                       -
 
                       -
   
 
                       -
                               
 
1
To eliminate accumulated deficit of Alba Mineral Exploration, Inc. to reflect reverse merger.
       
 
2
To record cancelation of 3,310,000 shares of common stock.
               
 
3
To record issuance of 2,585,175 shares of common stock to acquire 100% of the common shares of Diamond Information Institute, Inc.
 
 
 
 
 
 
 

 
 
 
ALBA MINERAL EXPLORATION, INC.
Unaudited Condensed Combined Pro Forma Statement of Operations
 
 
 
                             
 
         
Alba
 
Diamond
               
         
Mineral
 
Information
               
         
Exploration, Inc.
 
Institute, Inc.
             
Pro-Forma
         
For the
 
For the
             
Adjusted
         
Year Ended
 
Year Ended
 
Combined
 
Pro Forma
     
Combined
         
December 31, 2008
 
December 31, 2008
 
Totals
 
Adjustments
 
AJE
 
Totals
             
 
               
                               
REVENUES
 
 $                        -
 
 $           1,385,620
 
 $    1,385,620
 
 $                -
     
 $    1,385,620
COST OF SALES
                           -
 
                 847,976
 
          847,976
 
                   -
     
          847,976
                 
 
         
 
GROSS PROFIT
                           -
 
                 537,644
 
          537,644
 
                   -
     
          537,644
                 
 
         
 
OPERATING EXPENSES
       
 
         
 
                 
 
         
 
 
General and Administrative
                   36,941
 
                 495,123
 
          532,064
 
                   -
     
          532,064
 
Selling Expenses
                           -
 
                 368,664
 
          368,664
 
                   -
     
          368,664
 
Share-Based Compensation
                           -
 
                 317,500
 
          317,500
 
                   -
     
          317,500
 
Common Stock Issued for Services
                           -
 
                 450,000
 
          450,000
 
                   -
     
          450,000
                 
 
         
 
   
Total Costs and Expenses
                   36,941
 
              1,631,287
 
       1,668,228
 
                   -
     
       1,668,228
                 
 
         
 
   
OPERATING LOSS
                 (36,941)
 
            (1,093,643)
 
     (1,130,584)
 
                   -
     
     (1,130,584)
                 
 
         
 
OTHER INCOME (EXPENSE)
       
 
         
 
                 
 
         
 
 
Interest Expense
                           -
 
               (103,715)
 
        (103,715)
 
                   -
     
        (103,715)
 
Gain (Loss) on Sale of Assets
                           -
 
                     1,369
 
              1,369
 
                   -
     
              1,369
                               
   
Total Other Income (Expense)
                           -
 
               (102,346)
 
        (102,346)
 
                   -
     
        (102,346)
                               
   
Loss Before Taxes
                 (36,941)
 
            (1,195,989)
 
     (1,232,930)
 
                   -
     
     (1,232,930)
                               
INCOME TAX PROVISION (BENEFIT)
                           -
 
                 (89,133)
 
          (89,133)
 
                   -
     
          (89,133)
                 
 
         
 
 
 
NET LOSS
 $              (36,941)
 
 $         (1,106,856)
 
 $  (1,143,797)
 
 $                -
     
 $  (1,143,797)