EX-99.3 7 f8kproforma.htm UNAUDITED PRO FORMA Omega Commercial Financing Corporation




 

 

 

 

 

 

 

Omega Commercial Financing Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Pro Forma Condensed Statement of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Capital Funding LLC for the six months ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 June 30, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Commercial Financing Corporation for the six months ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 June 30, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Capital

 

Omega Commercial

 

Pro Forma

 

Unaudited

 

 

 

 

 

 

 

 

 

 

Funding LLC

 

Financing Corp.

 

Adjustments

 

Pro Forma

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3)

 

 

Revenues

 

 

 

$

603,536

$

0

$

0

$

603,536

Cost of sales

 

 

 

 

 

0

 

0

 

0

Gross profit (loss)

 

 

603,536

 

0

 

0

 

603,536

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

$

705,669

$

 

$

 

$

705,669

 

 

Related party

 

 

 

 

 

 

 

 

0

 

 

Other

 

 

 

 

 

 

 

 

 

 

0

 

 

 

 

 

 

Total operating costs and expenses

 

 

705,669

 

0

 

0

 

705,669

Other expenses (income):

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

0

 

0

 

 

 

0

 

 

Fair value adjustment of derivative liability

 

 

 

 

 

 

 

 

0

 

 

 

 

 

 

Total other expenses

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

(Loss) gain before discontinued operations and income taxes

(102,133)

 

0

 

0

 

(102,133)

 

 

Gain (loss) from discontinued operations

 

 

 

 

 

 

 

 

0

 

 

 

 

 

 

(Loss) gain before income taxes

 

 

(102,133)

 

0

 

0

 

(102,133)

 

 

Income tax provision

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

Net (loss) gain

 

$

(102,133)

$

0

$

0

$

(102,133)

Basic loss per common share

 

$

(68.09)

$

0.00

$

0

$

(0.01)

Weighted average common shares outstanding

 

 

1,500

 

25,500,000

 

-10,951,500

 

14,550,000





 

 

 

 

 

 

 

Omega Capital Financing Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Pro Forma Condensed Statement of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Capital Funding LLC for the year ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 December 31, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Commercial Financing Corporation for the year ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 December 31, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Capital

 

Omega Commercial

 

Pro Forma

 

Unaudited

 

 

 

 

 

 

 

 

 

 

Funding LLC

 

Financing Corp.

 

Adjustments

 

Pro Forma

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3)

 

 

Revenues

 

 

 

 

$

483,500

$

0

$

0

$

483,500

Cost of sales

 

 

 

0

 

0

 

0

 

0

Gross profit (loss)

 

 

483,500

 

0

 

0

 

483,500

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

867,798

 

23,129

 

 

 

890,927

 

 

Related party

 

 

 

 

 

 

 

 

0

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

0

 

 

 

 

 

 

Total operating costs and expenses

 

 

867,798

 

23,129

 

0

 

890,927

Other expenses (income):

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

0

 

0

 

0

 

0

 

 

Fair value adjustment of derivative liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total other expenses (income)

 

 

0

 

0

 

0

 

0

 

 

 

 

(Loss) gain before  discontinued operations and income taxes

 

 

(384,298)

 

(23,129)

 

0

 

(407,427)

 

Gain (loss) from discontinued operations

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

(Loss) gain before income taxes

 

 

(384,298)

 

(23,129)

 

0

 

(407,427)

Income tax provision

 

 

0

 

0

 

0

 

0

 

 

 

 

 

 

Net (loss) gain

 

$

(384,298)

$

(23,129)

$

 

$

(407,427)

Basic loss per common share

 

$

(256.20)

$

(0.00)

$

 

$

(0.02)

Weighted average common shares outstanding

 

 

1,500

 

25,500,000

 

-1,500

 

25,500,000





 

 

 

 

 

 

 

Omega Commercial Financing Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Pro Forma Condensed  Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 June 30

 

June 30, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2007

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Omega Capital

 

Omega Commercial

 

Pro Forma

 

Unaudited

 

 

 

 

 

 

 

 

 

 

Funding LLC

 

Financing Corp.

 

Adjustments

 

Pro Forma

Assets

 

(1)

 

(2)

 

 

Current Assets

 

 

 

 

 

 

 

 

 

 

Cash

 

 

 

 

 

$

149,409  

$

 

$

 

$

149,409  

 

Fixed Assets

 

 

77,279  

 

 

 

 

 

77,279  

 

Other Assets

 

 

22,920  

 

0

 

 

 

22,920  

 

 

 

 

 

 

Total current assets

 

 

249,608  

 

0

 

0

 

249,608

Liabilities and Shareholders’ Equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

Accounts and notes payable:

 

 

 

 

 

 

 

 

 

 

 

Unearned Revenues

 

$

580,666  

$

 

$

 

$

580,666  

 

 

Accrued Expense

 

 

819  

 

 

 

 

 

819  

 

 

Accrued interest debentures

 

 

 

 

 

 

 

 

—    

 

 

Advances from Stockholders

 

 

 

 

23,129

 

 

 

23,129  

 

 

Notes payable, related party

 

 

 

 

 

 

 

 

—    

 

 

Derivative liability convertible debentures

 

 

 

 

 

 

 

 

—    

 

Accrued interest payable:

 

 

 

 

 

 

 

 

—    

 

 

Notes payable, related party

 

 

 

 

 

 

 

 

—    

 

 

 

 

 

 

Total current liabilities

 

 

581,485  

 

23,129  

 

—    

 

604,614  

Long-term liabilities

 

 

 

 

 

 

 

 

 

 

 

Loans Payable

 

 

12,500  

 

—    

 

 

 

12,500  

 

 

 

 

 

 

Total liabilities

 

 

593,985  

 

23,129  

 

—    

 

617,114  

Commitments and contingencies

 

 

—    

 

 

 

 

 

 

Shareholders’ equity

 

 

 

 

 

 

 

 

 

 

Preferred stock, $.001 par value; 25,000,000 shares authorized,

 

 

 

 

 

 

 

 

 

 

 

535,891 shares issued and outstanding

 

 

—    

 

0

 

 

 

0

 

Common stock, $.001 par value; 475,000,000 shares authorized,

 

 

 

 

 

 

 

 

 

 

 

193,587,461 shares issued and outstanding

 

 

15  

 

255,000

 

(15)

 

255,000  

 

Additional paid-in capital

 

 

 

 

1,899,078

 

(344,377)

 

1,554,701  

 

Deficit accumulated during the development stage

 

 

 

 

 

 

 

 

 






 

Retained Earnings

 

 

(344,392)

 

(2,177,207)

 

344,392

 

(2,177,207)

 

 

 

 

 

 

Total shareholders' equity

 

 

(344,377)

 

(23,129)

 

—    

 

(367,506)

 

 

 

 

 

 

Total liabilities and shareholders' equity

 

$

249,608  

$

—    

$

—    

$

249,608  



OMEGA COMMERCIAL FINANCING CORPORATION

 

 

 

 

NOTES TO PRO FORMA CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

 

 

Pro Forma Adjustments

 

 

1

Includes adjustments to Omega Commercial Funding Corporation for the following:

 

 

 

●10/1 reverse split, with 2,550,000 outstanding shares

 

●New issuance of 12,000,000 shares common stock of Omega Commercial Financing Corporation.

 

●Purchase of Omega Capital Funding LLC for new issurance of 12,000,000 shares of Omega Commercial Funding Corporation common stock

 

 

2

To adjust the stockholders' equity to reflect the recapitalization of Omega Commercial Funding Corporation

 

 

3

To eliminate all shares of Omega Capital Funding LLC, reduce the number of outstanding shares of Omega Commercial Financing Corporation to reflect the 10/1 reverse stock split and the issuance of 12,000,000 shares of new common stock.