EX-99.5 6 cnsv_ex99-5.htm UNAUDITED PRO-FORMA COMBINED BALANCE SHEET AND STATEMENTS OF OPERATIONS OF CONSOLIDATION SERVICES, INC. FOR THE THREE MONTHS ENDED MARCH 31, 2008 Consolidation Services, Inc

Exhibit 99.5

 

Consolidation Services, Inc.

UNAUDITED CONDENSED COMBINED PRO FORMA BALANCE SHEET

 

 

Consolidation

 

Buckhorn

 

 

         

 

 

Services

 

Resources

 

 

         

Adjusted

 

Inc.

 

LLC

 

Combined

 

Pro Forma

     

ProForma

 

As of March 31, 2008

 

Totals

 

Adjustments

 

AJE

 

Totals

ASSETS

                
                 

Current Assets:

                

     Cash

$   450,643

 

$   314

 

$   450,957

 

$   (450,000)

 

[4]

 

$   957

     Accounts receivable

-

 

-

 

-

 

-

     

-

     Deposits

105,000

 

-

 

105,000

 

(50,000)

 

[4]

 

55,000

     Other current assets

-

 

-

 

-

 

-

     

-

                 

          Total Current Assets

555,643

 

314

 

555,957

 

(500,000)

     

55,957

       

1,500,000

 

[4]

   

Fixed Assets, Net:

184,469

 

1,028,173

 

1,212,642

 

1,535,704

 

[1]

 

4,248,346

                 

          TOTAL ASSETS

$   740,112

 

$   1,028,487

 

$   1,768,599

 

$   2,535,704

     

$   4,304,303

                 

LIABILITIES AND

                

     STOCKHOLDERS' EQUITY

                
                 

Current Liabilities:

                

     Accounts payable

$   3,854

 

$   62,254

 

$   66,108

 

$   (66,108)

 

[3]

 

$   -

     Related party payable

115,000

 

-

 

115,000

 

-

     

615,000

     Notes payable

-

 

-

 

-

 

500,000

 

[4]

 

500,000

                 

          Total Current Liabilities

118,854

 

62,254

 

181,108

 

433,892

     

615,000

                 

Long-Term Liabilities:

                

     Notes payable

-

 

-

 

-

 

500,000

 

[4]

 

500,000

                 

          Total Long-Term Payables

-

 

-

 

-

 

500,000

     

500,000

                 

          Total Liabilities

118,854

 

62,254

 

181,108

 

933,892

     

1,115,000

                 

Stockholders' Equity:

                

     Preferred stock

-

 

-

 

-

 

-

     

-

       

-

       

     Common stock

11,497

 

-

 

11,497

 

1,094

 

[1]

 

12,591

       

-

       

     Additional paid-in capital

814,239

 

-

 

814,239

 

2,098,906

 

[1]

 

2,816,894

 

      

(162,359)

 

[2]

   
             

66,108

 

[3]

   

     Minority interest

-

 

1,128,592

 

1,128,592

 

(564,296)

 

[1]

 

564,296

     Accumulated deficit

(204,478)

 

(162,359)

 

(366,837)

 

162,359

 

[2]

 

(204,478)

                       
                 

          Total Stockholders' Equity

621,258

 

966,233

 

1,587,491

 

1,601,812

     

3,189,303

                 

TOTAL LIABILITIES AND

                     

     STOCKHOLDERS' EQUITY

$   740,112

 

$   1,028,487

 

$   1,768,599

 

$   2,535,704

     

$   4,304,303

 

 

 [1]

 

 To record the issuance of 1,093,750 shares of common stock in the acquisition of a  50% interest in Buckhorn Resources, LLC

   

 [2]

 

 To eliminate accumulated defict of Buckhorn Resources, LLC

   

 [3]

 

 To record payment of accounts payable by owners of Buckhorn Resources LLC  as a contribution to capital

  

   

 [4]

 

 To record payment of $1,500,000 in the acquisition of a  50%  interest in Buckhorn Resources, LLC

 

 


 

Consolidation Services, Inc.

UNAUDITED CONDENSED COMBINED PRO FORMA STATEMENT OF OPERATIONS

 

 

Consolidation

 

Buckhorn

       

Pro-Forma

 

Services

 

Resources

       

Adjusted

 

Inc.

 

LLC

 

Combined

 

 

 

Combined

 

For the Three Months Ended March 31, 2008

 

Totals

 

Adjustments

 

Totals

              

REVENUES

             
              
              

     Sales revenue

$   -

 

$   -

 

$   -

 

$   -

 

$   -

     Other revenue

-

 

-

 

-

 

-

 

-

              

          Total Revenues

-

 

-

 

-

 

-

 

-

              

COST OF SALES

-

 

-

 

-

 

-

 

-

              

GROSS PROFIT

-

 

-

 

-

 

-

 

-

              

OPERATING EXPENSES

             
              

     General and administrative

27,961

 

6,534

 

34,495

 

-

 

34,495

     Depreciation and amortization

-

 

-

 

-

 

-

 

-

              

          Total Costs and Expenses

27,961

 

6,534

 

34,495

 

-

 

34,495

              

          OPERATING LOSS

(27,961)

 

(6,534)

 

(34,495)

 

-

 

(34,495)

              

OTHER INCOME (EXPENSE)

             
              

     Interest expense

-

 

-

 

-

 

-

 

-

     Other income

-

 

-

 

-

 

-

 

-

              

          Total Other Income (Expense)

-

 

-

 

-

 

-

 

-

              

          NET LOSS

$   (27,961)

 

$   (6,534)

 

$   (34,495)

 

$   -

 

$   (34,495)