EX-99.6 10 v421054_ex99-6.htm EXHIBIT 99.6

 

Exhibit 99.6

 

FUDA GROUP (USA) CORP

PRO-FORMA CONSOLIDATED BALANCE SHEETS

AT JUNE 30, 2015

(Unaudited)

 

   Historical   Pro-Forma 
   (a)   (b)   (c)            
   Fuda (US)   Marvel and Subsidiary   Fuda (UK)   Adjustments   Notes  Consolidated 
Assets                            
Current Assets                            
Cash and cash equivalents  $-   $5,420,679   $-           $5,420,679 
Accounts receivable, net   -    212,897    -            212,897 
Inventory   -    918,011    -            918,011 
Prepaid rent   -    27,057    -            27,057 
Other receivables   -    -    -            - 
Security deposits to suppliers   -    930,680    -            930,680 
Total Current Assets   -    7,509,324    -            7,509,324 
Land, property and equipment, net   -    52,710,480    -            52,710,480 
Total Assets   -    60,219,804    -            60,219,804 
                             
Liabilities                            
Current Liabilities                            
Accounts payable and accrued expenses   -    3,201,507    -            3,201,507 
Taxes payable   -    226    -            226 
Due to related parties   -    1,560    -            1,560 
Other payables   -    11,615    -            11,615 
Trade financing loans   -    -    -            - 
Advances from customers        121,698                 121,698 
Total Current Liabilities   -    3,336,606    -            3,336,606 
Total Liabilities   -    3,336,606    -            3,336,606 
                             
Commitments & Contingencies   -    -    -            - 
                             
Equity                            
Common stock, at par value   30,200    1,290    16    6,000   (d)   41,200 
                   (1,290)  (d)     
                   5,000   (e)     
                   (16)  (e)     
Additional paid-in capital   1,331    9,563,015    76    (6,000)  (d)   9,553,321 
                   (5,000)  (e)     
                   1,290   (d)     
                   16   (e)     
                   (712)  (f)     
                   (695)  (g)     
                   (1,407)  (h)     
Discount on common stock   (30,200)                     (30,200)
Subscription receivables        (1,290)   (16)           (1,306)
                             
Accumulated earnings (loss)   (1,331)   46,664,144    (76)   1,407   (h)   46,664, 144 
Accumulated other comprehensive income   -    656,039    -            656,039 
Total Equity   -    56,883,198    -            56,883,198 
Total Liabilities and Equity  $-   $60,219,804   $-           $60,219,804 
                             
   $-   $-   $-            - 

 

See accompanying notes to financial statements

 

Notes

(a)Derived from the unaudited balance sheet of Fuda Group (USA) Corp as of June 30, 2015 included in Form 10-Q filed on August 7, 2015.

(b)Derived from the unaudited consolidated balance sheet of Marvel Investment Corporation Limited as of June 30, 2015 included in this Form 8-K.

(c)Derived from the unaudited balance sheet of Fuda Gold (UK) Limited and its Subsidiary as of June 30, 2015 included in this Form 8-K.

(d)Fuda (US) to issue 62,000,000 shares of its common stock in exchange for 10,000 shares of Marvel.

(e)Fuda (US) to issue 50,000,000 shares of its common stock in exchange for 10 shares of Fuda (UK).

(f)Fuda (US)'s Year Ended December 31, 2014 Net Loss

(g)Fuda (US) and Fuda (UK) Six Months Ended June 30, 2015 Net Loss

(h)Marvel's Year Ended December 31, 2014 and Six Months Ended June 30, 2015 Net Loss

 

 

 

 

FUDA GROUP (USA) CORP

PRO-FORMA CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2015

(Unaudited)

 

   Historical   Pro-Forma 
   (a)   (b)   (c)            
   Fuda (US)   Marvel and subsidiary   Fuda (UK)   Adjustments   Notes  Consolidated 
Revenues  $-   $20,088,354   $-           $20,088,354 
Cost of sales   -    8,050,832    -            8,050,832 
Gross margin   -    12,037,522    -            12,037,522 
                             
Operating expenses                            
Selling, general & administrative expenses   619    332,457    76    (695)  (d)   332,457 
Total operating expenses   619    332,378    76            332,378 
                             
Income (Loss) from operations   (619)   11,705,065    (76)           11,705, 065 
                             
Other income (expenses)                            
Interest income        -    -            - 
Interest expense        (1,339)   -            (1,339)
Government rebate        34,544    -            34,544 
Total other income (expenses)   -    33,205    -            33,205 
                             
Net income (loss) before income taxes   (619)   11,738,270    (76)           11,738,270 
                             
Income tax benefit   -    (518)   -            (518)
                             
Net income (loss)  $(619)  $11,737,752   $(76)          $11,737,752 
                             
Foreign currency translation adjustment   -    435,327    -            435,327 
                             
Comprehensive income (loss)  $(619)  $12,173,079   $(76)          $12,173,079 

 

See accompanying notes to financial statements

 

Notes

(a)Derived from the unaudited balance sheet of Fuda Group (USA) Corp for the year ended December 31, 2014 included in Form 10-Q filed on August 7, 2015.

(b)Derived from the unaudited consolidated balance sheet of Marvel Investment Corporation Limited and its Subsidiary for the year ended December 31, 2014 included in this Form 8-K.

(c)Fuda Gold (UK) Limited was incorporated on May 2015, no figures during the year ended December 31, 2014.

(d)Fuda (US) and Fuda (UK) Six Months Ended June 30, 2015 Net Loss