EXHIBIT2.0 PROFORMA FIANANCIAL STATEMENTS WestmooreHoldings, Inc. ProForma Condensed Consolidated Balance Sheet December31, 2007 (UNAUDITED)

EX-2.0 3 westmoore_8k-ex02.htm PRO FORMA FINANCIAL STATEMENTS westmoore_8k-ex02.htm

EXHIBIT 2.0

PRO FORMA FIANANCIAL STATEMENTS

Westmoore Holdings, Inc.

Pro Forma Condensed Consolidated Balance Sheet

December 31, 2007

(UNAUDITED)

ASSSETS
	Westmoore Holdings, Inc.		Bear Holdings, Inc. and Subsidiary		Pro Forma Adjustments		Pro Forma
Current Assets:
Cash	$	849	$	51,827	$	-	$	52,676
Accounts receivable		50,000		389,414		-		439,414
Other receivable		400,000		3,373		-		403,373
Inventory		-		141,879		-		141,879
Prepaid expenses		6,228		15,493		-		21,721
Deferred financing costs, net of amortization		-		41,868		-		41,868
Total current assets		457,077		643,854		-		1,100,931
Property, plant and equipment, net of accumulated depreciation		7,500		399,516		-		407,016
Deferred finance cost, net of current portion and amortization		-		41,564		-		41,564
Deposits		5,816		18,495		-		24,311
Total assets	$	470,393	$	1,103,429	$	-	$	1,573,822

LIABILITIES AND SHAREHOLDER'S EQUITY (DEFICIT)

	Westmoore Holdings, Inc.			Bear Holdings, Inc. and Subsidiary			Pro Forma Adjustments		Pro Forma
Current Liabilities:
Accounts payable	$	83,246		$	263,892		$	-	$	347,138
Accrued expenses – related party		83,865			-			-		83,865
Accrued liabilities		10,170			54,879			-		65,049
Accrued interest		-			34,960			-		34,960
Line of Credit		-			586,140			-		586,140
Total current liabilities		177,281			939,871			-		1,117,152
Long term liabilities:								-
Secured line of credit - related party		-			52,100			-		52,100
Notes payable – related parties		-			385,000			-		385,000
Accrued interest, net of current portion		-			112,921			-		112,921

Stockholders' Equity (deficit)
Common stock		78,298			434,000			-		512,298
Additional paid in capital		4,668,742			-			-		4,668,742
Accumulated deficit		(4,453,928	)		(820,463	)		-		(5,274,391	)
Total stockholders' equity (deficit)		293,112			(386,463	)		-		(93,351	)
Total liabilities and stockholder's equity (deficit)	$	470,393		$	1,103,429		$	-	$	1,573,822

Westmoore Holdings, Inc.

Pro Forma Condensed Consolidated Statement of Income

For the Year Ended December 31, 2007

(UNAUDITED)

ASSSETS

	Westmoore Holdings, Inc.			Bear Holdings, Inc. and Subsidiary			Pro Forma Adjustments		Pro Forma

Sales	$	32,300		$	1,962,512		$	-	$	1,994,812

Cost of goods sold		31,733			1,610,186			-		1,641,919

Gross profit		567			352,326			-		352,893

Operating Expenses:
Selling		7,344			74,804			-		82,148
General and administrative		622,260			271,533			-		893,793

Net income (loss) from operations		(629,037	)		5,989			-		(623,048	)

Other income (expense):
Interest expense		-			(195,602	)		-		(195,602	)
Other income		27,000			-			-		27,000

Net loss before provision for income taxes		(602,037	)		(189,613	)		-		(791,650	)

Provision for income tax expense		800			800			-		1,600

Net loss	$	(602,837	)	$	(190,413	)	$	-	$	(793,250	)