EX-99.5
2
f8k093009a3ex99v_jbi.htm
PRO FORMA COMBINED CONSOLIDATED STATEMENT FOR OUR ACQUISITIONS OF OUR JAVACO AND PAK-IT SUBSIDIARIES.
f8k093009a3ex99v_jbi.htm
Exhibit 99.5
JBI, Inc. and Subsidiaries
Pro Forma Combined Consolidated Balance Sheet
For the Six Months Ended June 30, 2009
(Unaudited)
JBI Inc.
Javaco
Pakit
Pro Forma
Current Assets
Cash
200,724
13,335
627,669
841,729
Accounts receivable, net
95,220
1,249,431
696,898
2,041,550
Inventories
-
607,720
778,925
1,386,645
Prepaid expenses
-
8,498
2,771
11,269
Total Current Assets
295,944
1,878,985
2,106,264
4,281,193
Property And Equipment
Leasehold improvements
-
9,016
308,356
317,372
Machinery and office equipment
-
34,356
470,254
504,611
Vehicles
-
29,013
-
29,013
Furniture and fixtures
-
3,086
-
3,086
-
75,471
778,610
854,082
Less accumulated depreciation
-
46,317
73,937
120,254
Net Property And Equipment
-
29,155
704,673
733,828
Other Assets
Goodwill
-
1,976,830
2,668,583
4,645,414
Patents, net
-
-
6,024
6,024
Total Other Assets
-
1,976,830
2,674,608
4,651,438
Total Assets
295,944
3,884,970
5,485,544
9,666,458
Current Liabilities
Accounts payable
3,562
988,190
279,344
1,271,096
Accrued expenses
-
42,773
91,637
134,410
Notes Payable
-
199,550
-
199,550
Income Taxes Payable
-
642
-
642
Total Current Liabilities
3,562
1,231,155
370,981
1,605,698
Long-Term Liabilities
-
173,960
187,577
361,537
Deferred Taxes
-
78,666
-
78,666
Total Liabilities
3,562
1,483,781
558,558
2,045,901
Shareholders' Equity
Common Stock, par $0.001; 75,000,000 authorized 63,700,000 shares issued and outstanding at June 30, 2009
57,041
-
-
57,041
Additional paid in capital
323,388
2,650,000
(a)
4,615,000
(b)
7,588,388
Accumulated Deficit
(88,046
)
(248,811
)
311,986
(24,871
)
Total Shareholders' Equity
292,382
2,401,189
4,926,986
7,620,557
Total Liabilities And Shareholders' Equity
295,944
3,884,970
5,485,544
9,666,458
(a) JBI acquired Javaco on August 24, 2009. The purchase price was $2,650,000 consisting of 2,500,000 shares of our common stock and $150,000 in cash. The Company has used the share price on the date of aquisition to value our common shares. The elimination entry in consolidation removes the account for JBI's investment in Javaco.
(b) JBI acquired Pak-it on September 30, 2009. The purchase price was $4,615,000 consisting of 625,000 shares of our common stock and notes payable of $2,665,000 and $1,200,000. The Company has used the share price on the date of aquisition to value our common shares. The elimination entry in consolidation removes the account for JBI's investment in Pak-it. The majority shareholder pledged 10,000,000 shares of common stock if the notes were not repaid within 90 days. In the Pro Forma Statements the Company has assumed that notes were paid with those shares and no interest expense has been accrued.
1
JBI, Inc. and Subsidiaries
Pro Forma Combined Consolidated Statements Of Operations
For the Six Months Ended June 30, 2009
(Unaudited)
JBI Inc.
Javaco
Pakit
Pro Forma
Revenue, net
47,600
2,761,569
4,231,576
7,040,745
Cost of Sales
3,390
2,356,992
3,037,013
5,397,395
Gross Margin
44,210
404,577
1,194,563
1,643,350
Operating Expenses
Selling Expenses
-
88,605
191,874
280,478
Other General & Administrative Expenses
28,809
347,616
784,523
1,160,948
28,809
436,221
976,397
1,441,427
Operating income (loss)
15,401
(31,644
)
218,166
201,924
Other (income) expenses
Interest Expense
153
9,870
10,983
21,007
Other Income
-
-
(50,741
)
(50,741
)
153
9,870
(39,758
)
(29,734
)
Net income (loss)
15,248
(41,514
)
257,924
231,658
Loss per Share
0.00
0.00
Weighted average number of common shares outstanding
63,700,000
63,700,000
2
JBI, Inc. and Subsidiaries
Pro Forma Combined Consolidated Statements Of Operations
For the Twelve Months Ended December 31, 2008
(Unaudited)
JBI Inc.
Javaco
Pakit
Pro Forma
Revenue, net
15,050
6,647,802
7,005,458
13,668,309
Cost of Sales
-
5,720,639
5,676,163
11,396,802
Gross Margin
15,050
927,163
1,329,294
2,271,507
Operating Expenses
Selling Expenses
-
283,892
297,053
580,945
Other General & Administrative Expenses
90,344
811,203
1,006,518
1,908,065
90,344
1,095,094
1,303,572
2,489,010
Operating income (loss)
(75,294
)
(167,931
)
25,722
(217,503
)
Other (income) expenses
Interest Expense
35,668
39,366
44,802
119,836
Other Income
-
-
(73,142
)
(73,142
)
35,668
39,366
(28,340
)
46,694
Net income (loss)
(110,962
)
(207,297
)
54,062
(264,197
)
Loss per Share
(0.00
)
(0.00
)
Weighted average number of common shares outstanding
63,700,000
63,700,000
3

EX - 99 . 5 2 f8k093009a3ex99v _ jbi . htm PRO FORMA COMBINED CONSOLIDATED STATEMENT FOR OUR ACQUISITIONS OF OUR JAVACO AND PAK - IT SUBSIDIARIES . f8k093009a3ex99v _ jbi . htm Exhibit 99 . 5 JBI , Inc . and Subsidiaries Pro Forma Combined Consolidated Balance Sheet For the Six Months Ended June 30 , 2009 ( Unaudited ) JBI Inc . Javaco Pakit Pro Forma Current Assets Cash 200,724 13,335 627,669 841,729 Accounts receivable , net 95,220 1,249,431 696,898 2,041,550 Inventories - 607,720 778,925 1,386,645 Prepaid expenses - 8,498 2,771 11,269 Total Current Assets 295,944 1,878,985 2,106,264 4,281,193 Property And Equipment Leasehold improvements - 9,016 308,356 317,372 Machinery and office equipment - 34,356 470,254 504,611 Vehicles - 29,013 - 29,013 Furniture and fixtures - 3,086 - 3,086 - 75,471 778,610 854,082 Less accumulated depreciation - 46,317 73,937 120,254 Net Property And Equipment - 29,155 704,673 733,828 Other Assets Goodwill - 1,976,830 2,668,583 4,645,414 Patents , net - - 6,024 6,024 Total Other Assets - 1,976,830 2,674,608 4,651,438 Total Assets 295,944 3,884,970 5,485,544 9,666,458 Current Liabilities Accounts payable 3,562 988,190 279,344 1,271,096 Accrued expenses - 42,773 91,637 134,410 Notes Payable - 199,550 - 199,550 Income Taxes Payable - 642 - 642 Total Current Liabilities 3,562 1,231,155 370,981 1,605,698 Long - Term Liabilities - 173,960 187,577 361,537 Deferred Taxes - 78,666 - 78,666 Total Liabilities 3,562 1,483,781 558,558 2,045,901 Shareholders ' Equity Common Stock , par $ 0.001 ; 75,000,000 authorized 63,700,000 shares issued and outstanding at June 30 , 2009 57,041 - - 57,041 Additional paid in capital 323,388 2,650,000 ( a ) 4,615,000 ( b ) 7,588,388 Accumulated Deficit ( 88,046 ) ( 248,811 ) 311,986 ( 24,871 ) Total Shareholders ' Equity 292,382 2,401,189 4,926,986 7,620,557 Total Liabilities And Shareholders ' Equity 295,944 3,884,970 5,485,544 9,666,458 ( a ) JBI acquired Javaco on August 24 , 2009 . The purchase price was $ 2,650,000 consisting of 2,500,000 shares of our common stock and $ 150,000 in cash . The Company has used the share price on the date of aquisition to value our common shares . The elimination entry in consolidation removes the account for JBI 's investment in Javaco . ( b ) JBI acquired Pak - it on September 30 , 2009 . The purchase price was $ 4,615,000 consisting of 625,000 shares of our common stock and notes payable of $ 2,665,000 and $ 1,200,000 . The Company has used the share price on the date of aquisition to value our common shares . The elimination entry in consolidation removes the account for JBI 's investment in Pak - it . The majority shareholder pledged 10,000,000 shares of common stock if the notes were not repaid within 90 days . In the Pro Forma Statements the Company has assumed that notes were paid with those shares and no interest expense has been accrued . 1 JBI , Inc . and Subsidiaries Pro Forma Combined Consolidated Statements Of Operations For the Six Months Ended June 30 , 2009 ( Unaudited ) JBI Inc . Javaco Pakit Pro Forma Revenue , net 47,600 2,761,569 4,231,576 7,040,745 Cost of Sales 3,390 2,356,992 3,037,013 5,397,395 Gross Margin 44,210 404,577 1,194,563 1,643,350 Operating Expenses Selling Expenses - 88,605 191,874 280,478 Other General & Administrative Expenses 28,809 347,616 784,523 1,160,948 28,809 436,221 976,397 1,441,427 Operating income ( loss ) 15,401 ( 31,644 ) 218,166 201,924 Other ( income ) expenses Interest Expense 153 9,870 10,983 21,007 Other Income - - ( 50,741 ) ( 50,741 ) 153 9,870 ( 39,758 ) ( 29,734 ) Net income ( loss ) 15,248 ( 41,514 ) 257,924 231,658 Loss per Share 0 . 00 0 . 00 Weighted average number of common shares outstanding 63,700,000 63,700,000 2 JBI , Inc . and Subsidiaries Pro Forma Combined Consolidated Statements Of Operations For the Twelve Months Ended December 31 , 2008 ( Unaudited ) JBI Inc . Javaco Pakit Pro Forma Revenue , net 15,050 6,647,802 7,005,458 13,668,309 Cost of Sales - 5,720,639 5,676,163 11,396,802 Gross Margin 15,050 927,163 1,329,294 2,271,507 Operating Expenses Selling Expenses - 283,892 297,053 580,945 Other General & Administrative Expenses 90,344 811,203 1,006,518 1,908,065 90,344 1,095,094 1,303,572 2,489,010 Operating income ( loss ) ( 75,294 ) ( 167,931 ) 25,722 ( 217,503 ) Other ( income ) expenses Interest Expense 35,668 39,366 44,802 119,836 Other Income - - ( 73,142 ) ( 73,142 ) 35,668 39,366 ( 28,340 ) 46,694 Net income ( loss ) ( 110,962 ) ( 207,297 ) 54,062 ( 264,197 ) Loss per Share ( 0 . 00 ) ( 0 . 00 ) Weighted average number of common shares outstanding 63,700,000 63,700,000 3
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