EX-99 4 ex99-2.txt EX. 99.2 - COMBINED STATEMENT - 3/31/2004 PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS FOR THE YEAR ENDED MARCH 31, 2004 (UNAUDITED)
MTM TECHNOLOGIES, NETWORK VECTOR GLOBAL INFONSYSTEMS, PRO FORMA PRO FORMA INC. AND CATALYST, INC.(b) SERVICES INC. INC.(d) ADJUSTMENTS COMBINED SUBSIDIARIES(a) AND SUBSIDIARIES(c) (March 31, 2004) (December 31, 2003) (March 31, 2004) (December 31, 2003) ---------------- ------------------- ------------------------------------------------- -------------- Net Revenues: Products $ 38,976,121 $ 24,346,558 35,005,738 40,546,270 $ 138,874,687 Services 13,288,148 7,545,338 14,593,707 16,809,559 52,236,752 ---------------- ------------------- ------------------------------------------------- -------------- 52,264,269 31,891,896 49,599,445 57,355,829 191,111,439 ---------------- ------------------- ------------------------------------------------- -------------- Costs and expenses: Cost of products sold 37,756,828 21,392,596 29,777,874 34,738,405 123,665,703 Cost of services provided 12,103,374 5,877,849 7,759,472 11,999,007 37,739,702 Selling, general and 10,025,596 4,382,383 13,353,012 10,670,674 38,431,665 administrative expenses ---------------- ------------------- ------------------------------------------------- -------------- 59,885,798 31,652,828 50,890,358 57,408,086 199,837,070 ---------------- ------------------- ------------------------------------------------- -------------- Other (Income) (6,431) - (101) (6,532) Provision (benefit) for 49,134 49,134 income taxes Interest (income) expense 493,759 310,936 (26,184) 37,120 5,860,863 (A) 7,644,699 968,205 (B) ---------------- ------------------- ------------------------------------------------- -------------- NET (LOSS) $ (8,108,857) $ (71,868) $ (1,264,628) $ (138,511)$(6,829,068) $(16,412,932) ================ =================== ================================================= ============== Net (loss) per common share: Basic and diluted $ (1.72) $ (2.52) ================ ============= Weighted average number of common shares outstanding: Basic and diluted 4,723,052 500,000 (C) 6,525,042 433,840 (D) 868,150 (E) (a) Represents historical financial statement of MTM Technologies, Inc. as of March 31, 2004 derived from the consolidated financial statements included in MTM Technologies, Inc. Annual Report on Form 10-K for the year ended March 31, 2004. (b) Represents historical financial data of Network Catalyst, Inc. derived from the audited financial statements of Network Catalyst, Inc. for the twelve months ended December 31, 2003. (c) Represents historical financial data of Vector Global Services, Inc. derived from the financial statements of Vector Global Services, Inc. for the twelve months ended March 31, 2004. (d) Represents historical financial data of Info systems, Inc. derived from the audited financial statements of Info Systems, Inc. for the twelve months ended December 31, 2003. (A) Represents non-cash debt discount amortization and interest expense related to the A-4 $10,000,000 Convertible Subordinated Promissory Notes investment by Pequot Private Equity Fund III, LLP and Pequot Offshore Private Equity Partners III, L.P. and Constellation Venture Capital II, L.P., Constellation Venture Capital Offshore II, L.P., The BSC Employee Fund VI, L.P. and CVC Partners II, LLC, as if the transaction took place at the beginning of the period shown. (B) Represents non-cash debt discount amortization and interest expense related to the A-4 $6,000,000 Convertible Subordinated Promissory Notes investment by Pequot Private Equity Fund III, LLP and Pequot Offshore Private Equity Partners III, L.P. and Constellation Venture Capital II, L.P., Constellation Venture Capital Offshore II, L.P., The BSC Employee Fund VI, L.P. and CVC Partners II, LLC, as if the transaction took place at the beginning of the period shown. (C) Represents the stock consideration given as part of the Network Catalyst, Inc. acquisition of net assets, as if shares were considered outstanding for the full period shown. (D) Represents the stock consideration given as part of the Vector Global Services, Inc. acquisition of net assets, as if shares were considered outstanding for the full period shown. (E) Represents the stock consideration given as part of the Info Systems, Inc. stock purchase, as if shares were considered outstanding for the full period shown.