Acquisitions, Dispositions and Other Transactions (Tables)

3 Months Ended

Mar. 31, 2013

Acquisitions, Dispositions and Other Transactions

Schedule of fair value of TLC's balance sheet and changes in managements' final evaluation of fair value assumptions

	March 18, 2013
Assets
Current assets:
Cash and cash equivalents	$	84,062
Accounts receivable	259,602
Inventory	19,892,740
Prepaid expenses and other	1,074,420
Total current assets	21,310,824
Property, plant and equipment	28,469,390
Other assets	3,946,570
Total assets	$	53,726,784
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable - trade	$	6,383,107
Accounts payable - related party	—
Line of credit payable	9,319,612
Customer advanced payments	4,132,386
Current portion of long-term debt	354,390
Other current liabilities	3,962,045
Total current liabilities	24,151,540
Long-term debt	9,265,766
Total liabilities	33,417,306
Stockholders’ equity:
Stockholders’ equity attributable to CVSL	10,500,000
Stockholders’ equity attributable to noncontrolling interest	9,809,478
Total stockholders’ equity	20,309,478
Total liabilities and stockholders’ equity	$	53,726,784

Schedule of TLC Results from Operations

The following table presents the operating results of TLC included in the Company’s consolidated statements of operations for the 13 day period beginning March 19, 2013 to March 31, 2013.

Gross sales	$	3,902,854
Program costs and discounts	(1,524,624		)
Net sales	2,378,230
Costs of sales	1,340,229
Gross profit	1,038,001
Selling, general and administrative	951,972
Operating profit	86,029
Interest expense, net	37,488
Net income	48,541
Net earnings attributable to noncontrolling interest	23,445
Net earnings attributed to CVSL	$	25,096

Schedule of Pro forma Results

	Three months ended
	March 31, 2013*			March 31, 2012
Gross sales	$	20,141,952		$	24,002,207
Gross profit	5,133,580			4,519,011
Operating loss	(3,662,865		)	(3,260,583		)
Net loss	(4,149,395		)	(4,140,433		)
Net loss attributed to CVSL		(2,796,906	)		(2,135,269	)
Basic and diluted loss per share:
Weighted average common share outstanding		487,712,326			438,086,034
Net loss per share attributable to CVSL	$	(0.01	)	$	—

* Excludes purchase accounting adjustments.

Schedule of total gross revenue for TLC

(in millions)	Gross sales
Q2FY12	$	25.4
Q3FY12	26.9
Q4FY12	36.8
Q1FY13	19.9
Total	$	109.0