Goldspring, Inc. Pro Forma Financial Statements and Revenue Projections

Summary

This document presents Goldspring, Inc.'s pro forma balance sheets and income statements, including assets, liabilities, equity, and projected revenues by business segment from 2003 through 2013. It outlines key financial data such as cash, receivables, payables, and equity, as well as revenue and gold recovery projections for the company's Spring Valley and Gold Canyon operations. The document is intended to provide a financial overview and future outlook for stakeholders, but does not impose contractual obligations between parties.

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EX-2.3 5 ex2_3.txt Exhibit 2.3
($ IN MILLIONS) (INCEPTION OCT. 19) ACACTUAL ACTUAL ACTUAL Q1 ADJ. MARCH 31, 1999 2000 2001 2002 2003 2003 ----------- ----------- ----------- ----------- ----------- ----------- ASSETS Cash & Short Term Inv $ 1,341 $ -- $ -- $ 318 $ -- $ 318 Accounts Receivable $ 1,900 $ 4,327 $ -- $ -- $ -- $ -- Inventory $ -- $ -- $ -- $ -- $ -- $ -- Other Current Assets $ -- $ 30,419 $ 25,000 $ -- $ -- $ -- Net PP&E $ 40,381 $ 27,647 $ 14,382 $ 1,118 $ 127,547 $ 128,665 Goodwill $ -- $ -- $ -- $ -- $ -- $ -- Transaction Costs $ -- $ -- $ -- $ -- $ -- $ -- Other Assets $ -- $ 4,355 $ 4,355 $ -- $ 6,830,000 $ 6,830,000 ----------- ----------- ----------- ----------- ----------- ----------- TOTAL ASSETS $ 43,622 $ 66,748 $ 43,737 $ 1,436 $ 6,958,983 LIABILITIES & EQUITY Accounts Payable $ 13,243 $ 65,903 $ 61,575 $ -- $ -- $ -- Accrued Expenses $ -- $ -- $ -- $ 49,322 $ 100,000 $ 149,322 Bank Revolver $ -- $ 11,288 $ 6,925 $ -- $ -- $ -- Current Portion - LTD $ 29,617 $ 2,760 $ 148,181 $ -- $ -- $ -- Other Current Liab $ -- $ -- $ -- $ -- $ -- $ -- Deferred Taxes $ -- $ -- $ -- $ -- $ -- $ -- Existing Senior Debt $ -- $ 75,000 $ -- $ -- $ -- $ -- Existing Sub Debt $ -- $ -- $ -- $ -- $ -- $ -- Term Loan A $ -- $ -- $ -- $ -- $ -- $ -- Term Loan B $ -- $ -- $ -- $ -- $ -- $ -- Sr. Sub Debt $ -- $ -- $ -- $ -- $ -- $ -- Jr. Sub Debt $ -- $ -- $ -- $ -- $ -- $ -- ESOP $ -- $ -- $ -- $ -- $ -- $ -- Retained Earnings $ 762 $ (88,203) $ (172,944) $ (47,886) $ -- $ (47,886) Preferred Stock $ -- $ -- $ -- $ -- $ 4,650,000 $ 4,650,000 Common Equity $ -- $ -- $ -- $ -- $ 2,207,547 $ 2,207,547 ----------- ----------- ----------- ----------- ----------- ----------- TOTAL LIAB. & EQUITY $ 43,622 $ 66,748 $ 43,737 $ 1,436 $ 6,958,983 Parity Check $ -- $ -- $ -- $ -- $ -- ($ IN MILLIONS) PROFORMA DEC. 31, DEBIT CREDIT 2003 ----------- ----------- ----------- ASSETS Cash & Short Term Inv $ 1,500,000 $ 1,313,559 $ 186,759 Accounts Receivable $ 500,000 $ -- $ 500,000 Inventory $ 100,000 $ -- $ 100,000 Other Current Assets $ 200,000 $ -- $ 200,000 Net PP&E $ 700,000 $ 46,667 $ 781,998 Goodwill $ -- $ -- $ -- Transaction Costs $ -- $ -- $ -- Other Assets $ -- $ 35,261 $ 6,794,739 ----------- ----------- ----------- TOTAL ASSETS $ 8,563,496 LIABILITIES & EQUITY Accounts Payable $ 215,500 $ 500,000 $ 284,500 Accrued Expenses $ 100,000 $ -- $ 49,322 Bank Revolver $ -- $ -- $ -- Current Portion - LTD $ -- $ -- $ -- Other Current Liab $ -- $ -- $ -- Deferred Taxes $ -- $ 20,053 $ 20,053 Existing Senior Debt $ -- $ -- $ -- Existing Sub Debt $ -- $ -- $ -- Term Loan A $ -- $ -- $ -- Term Loan B $ -- $ -- $ -- Sr. Sub Debt $ -- $ -- $ -- Jr. Sub Debt $ -- $ -- $ -- ESOP $ -- $ -- $ -- Retained Earnings $ -- $ 619,964 $ 572,078 Preferred Stock $ 220,004 $ -- $ 4,429,996 Common Equity $ -- $ 1,000,000 $ 3,207,547 ----------- ----------- ----------- TOTAL LIAB. & EQUITY $ 8,563,496 Parity Check $ 0
GOLDSPRING, INC. INCOME STATEMENTS BUILD-UP BY BUSINESS SEGMENT - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CONSOLIDATING REVENUE SUMMARY ================================================================================
PROJECTED FISCAL YEAR ENDED DECEMBER 31, ----------- ----------- ----------- ----------- ----------- ----------- ----------- 2003PF 2004 2005 2006 2007 2008 2009 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Revenue Spring Valley 1 $ 2,168,950 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 Spring Valley 2 $ -- $ 3,534,300 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 Gold Canyon 1 $ -- $ 4,319,700 $ 9,817,500 $ 9,817,500 $ 9,817,500 $ 9,817,500 $ 9,817,500 Gold Canyon 2 $ -- $ -- $ 6,823,250 $ 9,817,500 $ 9,817,500 $ 9,817,500 $ 9,817,500 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total Revenue $ 2,168,950 $ 15,886,50 $32,705,750 $35,700,000 $35,700,000 $35,700,000 $35,700,000 Gold Price $ 350 $ 350 $ 350 $ 350 $ 350 $ 350 $ 350 Gold Grade per y3 (Ounce) Spring Valley 1 0.027 0.027 0.027 0.027 0.027 0.027 0.027 Spring Valley 2 0.027 0.027 0.027 0.027 0.027 0.027 0.027 Gold Canyon 1 0.033 0.033 0.033 0.033 0.033 0.033 0.033 Gold Canyon 2 0.033 0.033 0.033 0.033 0.033 0.033 0.033 Accumulated Gold Recovered Spring Valley 6,197 39,245 85,145 131,045 176,945 222,845 268,745 Gold Canyon -- 12,342 59,887 115,987 172,087 228,187 284,287 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total Gold Recovered 6,197 51,587 145,032 247,032 349,032 451,032 553,032 PROJECTED FISCAL YEAR ENDED DECEMBER 31, ----------- ----------- ----------- ----------- 2010 2011 2012 2013 ----------- ----------- ----------- ----------- Revenue Spring Valley 1 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 Spring Valley 2 $ 8,032,500 $ 8,032,500 $ 8,032,500 $ 8,032,500 Gold Canyon 1 $ 9,817,500 $ 9,817,500 $ 9,817,500 $ 9,817,500 Gold Canyon 2 $ 9,817,500 $ 9,817,500 $ 9,817,500 $ 9,817,500 ----------- ----------- ----------- ----------- Total Revenue $35,700,000 $35,700,000 $35,700,000 $35,700,000 Gold Price $ 350 $ 350 $ 350 $ 350 Gold Grade per y3 (Ounce) Spring Valley 1 0.027 0.027 0.027 0.027 Spring Valley 2 0.027 0.027 0.027 0.027 Gold Canyon 1 0.033 0.033 0.033 0.033 Gold Canyon 2 0.033 0.033 0.033 0.033 Accumulated Gold Recovered Spring Valley 314,645 360,545 406,445 452,345 Gold Canyon 340,387 396,487 452,587 508,687 ----------- ----------- ----------- ----------- Total Gold Recovered 655,032 757,032 859,032 961,032