EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

SCHEDULE OF ACQUISITION PRO-FORMA INFORMATION

 

ALTITUDE INTERNATIONAL HOLDINGS, INC. and BREUNICH HOLDINGS, INC.

Unaudited Proforma Consolidated Balance Sheets

June 30, 2021

 

    ALTD    BHI    Adjustments    Consolidated  
ASSETS                                
Current assets                                
Cash   $ 4,122     $ 655,784     $ -     $ 659,906  
Accounts receivable     -       443,076       -       443,076  
Inventory     -       187,031       -       187,031  
Due from related party     -       212,380       -       212,380  
Prepaid expense     39,208       122,187       -       161,395  
Total current assets     43,330       1,620,458       -       1,663,788  
Fixed assets, net     -       266,976       -       266,976  
Other assets - long-term     -       1,816       -       1,816  
Notes receivabe, non-current     -       37,467       -       37,467  
                                 
Total assets   $ 43,330     $ 1,926,717     $ -     $ 1,970,047  
                                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT                                
Current liabilities                                
Notes payable   $ 20,800     $ -     $ -     $ 20,800  
Accounts payable and accrued expenses     55,008       509,121       -       564,129  
Due to Breunich Holding Inc.     193,328       -       (193,328 )(a)     -  
Stockholders' advance     36,211       -       -       36,211  
Deferred revenue     126,037       814,918       -       940,955  
Total current liabilities     431,384       1,324,039       (193,328 )     1,562,095  
Notes payable, non-current     -       1,530,444       -       1,530,444  
Total liabilities     431,384       1,324,039       (193,328 )     1,562,095  
                                 
Commitments and contingencies     -       -       -       -  
                                 
Stockholders' deficit                                
Preferred stock     -       -       -       -  
Common stock     6,175,574       5,643       (5,643 )(a)     6,175,574  
Additional paid in capital     (175,279 )     2,140,857       (2,875,298 )(a)     (909,720 )
Accumulated deficit     (6,388,349 )     (3,074,269 )     3,074,269 (a)     (6,388,349 )
Total stockholders' deficit     (388,054 )     (927,769 )     193,328       (1,122,495 )
Total liabilities and stockholders' deficit   $ 43,330     $ 396,270     $ -     $ 439,600  

 

(a) To reflect the issuance of 295,986,724 shares of Altitude Holdings, Inc.'s common stock pursuant to the Exchange Ratio in the merger agreement.

 

 

 

 

ALTITUDE INTERNATIONAL HOLDINGS, INC.

Unaudited Proforma Statement of Operations

For the Six Months ended June 30, 2021

(unaudited)

 

    ALTD    BHI    Adjustments    Consolidated  
                      
Revenue   $ -     $ 3,575,981     $             -     $ 3,575,981  
                                 
Operating expenses                                
Direct costs of revenue     -       697,569       -       697,569  
Professional fees     107,567       183,210       -       290,777  
Salary expenses     65,435       1,323,500       -       1,388,935  
Stock-based compensation     2,978,108       -       -       2,978,108  
Impairment expense     -       960,000       -       960,000  
Travel and entertainment     -       33,622       -       33,622  
Depreciation and amortization     -       21,085       -       21,085  
General and administrative - expense - related party     -       3,500       -       3,500  
Other general and administrative expenses     60,444       1,335,118       -       1,395,562  
Total operating expenses     3,211,554       4,557,604       -       7,769,158  
Loss from operations     (3,211,554 )     (981,623 )     -       (4,193,177 )
                                 
Other income (expenses)                                
Gain on settlement of debt     41,254       -       -       41,254  
Interest expense     (3,991 )     (17,865 )     -       (21,856 )
Total other income (expenses)     37,263       (17,865 )     -       19,398  
Net loss   $ (3,174,291 )   $ (999,488 )   $ -     $ (4,173,779 )
                                 
Earnings per share - basic and fully diluted   $ (0.06 )                   $ (0.07 )
                                 
Weighted average number of shares of common stock - basic and fully diluted     56,940,822                       56,940,822  

 

 

 

 

SCHEDULE OF ACQUISITION PRO-FORMA INFORMATION

 

ALTITUDE INTERNATIONAL HOLDINGS, INC. and BREUNICH HOLDINGS, INC.

Unaudited Proforma Consolidated Balance Sheets

December 31, 2020

 

    ALTD    BHI    Adjustments    Consolidated  
ASSETS                                
Current assets                                
Cash   $ 485     $ 133,518     $ -     $ 134,003  
Accounts receivable     -       269,962       -       269,962  
Inventory     -       50,536       -       50,536  
Prepaid expense     3,000       199,003       -       202,003  
Total current assets     3,485       653,019       -       656,504  
Fixed assets, net     -       286,099       -       286,099  
                                 
Total assets   $ 3,485     $ 939,118     $ -     $ 942,603  
                                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT                                
Current liabilities                                
Notes payable - related party   $ 69,200     $ -     $ -     $ 69,200  
Notes payable     20,800       913,768       -       934,568  
Accounts payable and accrued expenses     62,053       400,328       -       462,381  
Accounts payable and accrued expenses - related party     113,422       -       -       113,422  
Payroll taxes payable     -       4,327       -       4,327  
Stockholders' advance     36,211       -       -       36,211  
PPP loan     -       30,595       -       30,595  
Deferred revenue     -       1,378,502       -       1,378,502  
Total current liabilities     301,686       2,727,520       -       3,029,206  
SBA Loans     -       263,300       -       -  
Total liabilities     301,686       2,990,820       -       3,029,206  
                                 
Commitments and contingencies     -       -       -       -  
                                 
Stockholders' deficit                                
Preferred stock     -       -       -       -  
Common stock     3,091,136       -       -       3,091,136  
Additional paid in capital     (175,279 )     100       (2,051,802 )(a)     (2,226,981 )
Members' deficit     -       (1,981,343 )     1,981,343 (a)     -  
Non-controlling member's deficit     -       (44,454 )     44,454 (a)     -  
Accumulated deficit     (3,214,058 )     (26,005 )     26,005 (a)     (3,214,058 )
Total stockholders' deficit     (298,201 )     (2,051,702 )     -       (2,349,903 )
Total liabilities and stockholders' deficit   $ 3,485     $ 939,118     $ -     $ 679,303  

 

(a) To reflect the issuance of 295,986,724 shares of Altitude Holdings, Inc.'s common stock pursuant to the Exchange Ratio in the merger agreement.

 

 

 

 

ALTITUDE INTERNATIONAL HOLDINGS, INC.

Unaudited Proforma Statement of Operations

For the Year ended December 31, 2020

(unaudited)

 

    ALTD    BHI    Adjustments    Consolidated  
                      
Revenue   $ 1,186     $ 5,524,410     $                -     $ 5,525,596  
                                 
Operating expenses                                
Direct costs of revenue     -       874,348       -       874,348  
Professional fees     52,833       106,639       -       159,472  
Salary expenses     125,000       2,822,040       -       2,947,040  
Stock-based compensation     13,168       -       -       13,168  
Impairment expense     10,141       378,433       -       388,574  
Travel and entertainment     -       260,679       -       260,679  
Depreciation and amortization     -       51,189       -       51,189  
Other general and administrative expenses     74,502       1,618,101       -       1,692,603  
Total operating expenses     275,644       6,111,429       -       6,387,073  
Loss from operations     (274,458 )     (587,019 )     -       (861,477 )
                                 
Other income (expenses)                                
Loss on conversion of debt to common stock     (39,734 )     -       -       (39,734 )
Other income     -       507,207       -       507,207  
Interest expense     (14,355 )     (45,486 )     -       (59,841 )
Total other income (expenses)     (54,089 )     461,721       -       407,632  
Net loss     (328,547 )     (125,298 )     -       (453,845 )
Net loss attributable to noncontrolling interests     -       (20,011 )     -       -  
Net loss   $ (328,547 )   $ (105,287 )   $ -     $ (453,845 )
                                 
Earnings per share - basic and fully diluted   $ (0.01 )                   $ (0.01 )
                                 
Weighted average number of shares of common stock - basic and fully diluted     45,323,448                       45,323,448