EX-99
9
optimized8ka2092809ex998.htm
EX-99.8 FINANCIAL STATEMENTS
Exhibit 99.8
Exhibit 99.8
UNITED RESTAURANT MANAGEMENT, Inc.
Pro Forma Condensed
Combined Financial Statements
March 31, 2009 (unaudited)
UNITED RESTAURANT MANAGEMENT, Inc.
Index to Pro Forma Condensed Combined Financial Statements
Page
Introduction to Unaudited Pro Forma Condensed Combined Financial Statements
F-3
Unaudited Pro Forma Condensed Combined Balance Sheet
F-4
Unaudited Pro Forma Condensed Combined Statement of Operations and Comprehensive Loss
F-5
Notes to Unaudited Pro Forma Condensed Combined Financial Statements
F-6
F-2
Introduction to Unaudited Pro Forma Condensed Combined Financial Statements
The following unaudited pro forma condensed combined financial statements are presented to illustrate the estimated effects of our acquisition of Federal Logistics Inc. and Optimized Transportation Software, Inc. (the "Exchange Transaction") on our historical financial position and our results of operations. We have derived our historical financial data for the three months ended March 31, 2009 from our unaudited condensed interim financial statements for the three months ended March 31, 2009 previously filed in our report with the Securities and Exchange Commission. We have derived the historical financial position of Federal Logistics Inc. and Optimized Transportation Software, Inc for the period from July 1, 2008 to March 31, 2009. Federal Logistics Inc. audited financial statements for the period from February 28, 2008 (date of inception) to June 30, 2008 are included elsewhere in this Form 8K. Optimized Transportation Software, Inc audited financial statements for the period from October 30, 2007 (date of inception) to June 30, 2008 are also included elsewhere in this Form 8K.
The unaudited pro forma condensed combined statement of operations for the nine months ended August 31, 2008 assumes that the Exchange Transaction and Financing were consummated on November 1, 2007. The unaudited pro forma condensed combined balance sheet as of August 31, 2008 assumes the Exchange Transaction was consummated on that date. The information presented in the unaudited pro forma condensed combined financial statements does not purport to represent what our financial position or results of operations would have been had the Exchange Transaction occurred as of the dates indicated, nor is it indicative of our future financial position or results of operations for any period. You should not rely on this information as being indicative of the historical results that would have been achieved had the companies always been combined or the future results that the combined companies will experience after the Exchange Transaction.
The pro forma adjustments are based upon available information and certain assumptions that we believe are reasonable under the circumstances.
These unaudited pro forma condensed combined financial statements should be read in conjunction with the accompanying notes and assumptions and the historical financial statements and related notes of us, Federal Logistics Inc. and Optimized Transportation Software, Inc
F-3
UNITED RESTAURANT MANAGEMENT, Inc.
Pro forma condensed combined balance sheet
March 31, 2009
(unaudited)
Federal
Pro Forma
Pro Forma
UREM
Logistics
OTSI
Adjustments
Combined
Assets
Current assets
Cash
$
9
$
89,072
$
-
$
-
$
89,081
Accounts receivable
-
2,832,477
85,430
-
2,917,907
Advances
-
382,433
-
(243,612)
2
138,821
Surety bond
-
10,445
-
-
10,445
Total current assets
9
3,314,427
85,430
(243,612)
3,156,254
Equipment
-
10,586
145,876
-
156,462
Total assets
$
9
$
3,325,013
$
231,306
$
(243,612)
$
3,312,716
Liabilities and stockholders' equity (deficit)
Liabilities
Current liabilities
Accounts payable
$
18,175
$
5,963
$
13,133
$
-
$
37,271
Accrued expenses
-
2,631,619
-
-
2,631,619
Line of credit
-
359,337
-
-
359,337
Other current liabilities
15,860
251,915
243,612
(243,612)
2
267,775
Stockholder's note payable
-
40,000
40,000
Total current liabilities
34,035
3,288,834
256,745
(243,612)
3,336,002
Total liabilities
34,035
3,288,834
256,745
(243,612)
3,336,002
Stockholders' equity (deficit)
Preferred stock
-
-
-
1,200
1,200
Common stock
6,165
100
100
1,635
8,000
Additional paid-in capital
2,136,897
-
-
(2,179,923)
(43,026)
Retained earnings (Accumulated deficit)
(2,177,088)
36,079
(25,539)
2,177,088
10,540
Total stockholders' equity (deficit)
(34,026)
36,179
(25,439)
-
(23,286)
Total liabilities and stockholders' equity (deficit)
$
9
$
3,325,013
$
231,306
$
(243,612)
$
3,312,716
See accompanying notes to these financial statements
F-4
UNITED RESTAURANT MANAGEMENT, Inc.
Pro forma condensed combined statement of income
For the nine months ended March 31, 2009
(unaudited)
Federal
Pro Forma
Pro Forma
UREM
Logistics
OTSI
Adjustments
Combined
three months
ended
Revenues
$
-
$
6,403,761
$
236,413
$
$
6,640,174
Costs of operations
-
5,985,824
132,648
-
6,118,472
Gross profit
-
417,937
103,765
-
521,702
General and administrative expenses
16,423
290,621
206,830
-
513,874
Operating income (loss)
(16,423)
127,316
(103,065)
-
7,828
Interest expense
138
24,558
-
-
24,696
Net Income (loss)
$
(16,561)
$
102,758
$
(103,065)
$
-
$
(16,868)
Net (loss) per common share basic
$
(0.002)
Net (loss) per common share diluted
$
(0.001)
Weighted average number of common shares outstanding, basic
8,000,000
Weighted average number of common shares outstanding, diluted
15,000,000
See accompanying notes to these financial statements
F-5
UNITED RESTAURANT MANAGEMENT, Inc.
Notes to pro forma condensed combined financial statements
March 31, 2009 (Unaudited)
(Stated in US Dollars)
[1]
The Share Exchange is being accounted for as a stock purchase of Florida Logistics, Inc. and Optimized Transportation Software, Inc. The assets and liabilities and the historical operations that will be reflected in the financial statements for periods prior to the Share Exchange will be those of the Registrant. After the completion of the Share Exchange, the Registrant's consolidated financial statements will include the assets and liabilities of the Registrant, FL & OTSI, the historical operations of FL & OTSI and the operations of the Registrant from the closing date of the Share Exchange. No arrangements or understandings exist among present or former controlling stockholders with respect to the election of members of the Registrant's board of directors and, to our knowledge, no other arrangements exist that might result in a change of control of the Company. Further, as a result of the issuance of the shares of the Registrant's common stock pursuant to the Share Exchange, a change in control of the Registrant occurred on the date of consummation of the Share Exchange.
[2]
To eliminate intercompany advances between subsidiaries
[3]
The pro forma statements assume the Exchange Transaction occurred at the beginning of the period presented; weighted average number of shares therefore equals number of shares outstanding at the end of the completion of the transaction.
Previously existing number of shares of UNITED RESTAURANT MANAGEMENT
2,500,000
Exchange Transaction
5,500,000
Weighted average number of common shares
8,000 000
UNITED RESTAURANT MANAGEMENT did not have any dilutive instrument during the nine months ended June 30, 2009, convertible preferred shares will be issued in connection with the Exchange Transaction. Accordingly, the reported diluted loss per share is different.
F-6

EX - 99 9 optimized8ka2092809ex998 . htm EX - 99 . 8 FINANCIAL STATEMENTS Exhibit 99 . 8 Exhibit 99 . 8 UNITED RESTAURANT MANAGEMENT , Inc . Pro Forma Condensed Combined Financial Statements March 31 , 2009 ( unaudited ) UNITED RESTAURANT MANAGEMENT , Inc . Index to Pro Forma Condensed Combined Financial Statements Page Introduction to Unaudited Pro Forma Condensed Combined Financial Statements F - 3 Unaudited Pro Forma Condensed Combined Balance Sheet F - 4 Unaudited Pro Forma Condensed Combined Statement of Operations and Comprehensive Loss F - 5 Notes to Unaudited Pro Forma Condensed Combined Financial Statements F - 6 F - 2 Introduction to Unaudited Pro Forma Condensed Combined Financial Statements The following unaudited pro forma condensed combined financial statements are presented to illustrate the estimated effects of our acquisition of Federal Logistics Inc . and Optimized Transportation Software , Inc . ( the " Exchange Transaction " ) on our historical financial position and our results of operations . We have derived our historical financial data for the three months ended March 31 , 2009 from our unaudited condensed interim financial statements for the three months ended March 31 , 2009 previously filed in our report with the Securities and Exchange Commission . We have derived the historical financial position of Federal Logistics Inc . and Optimized Transportation Software , Inc for the period from July 1 , 2008 to March 31 , 2009 . Federal Logistics Inc . audited financial statements for the period from February 28 , 2008 ( date of inception ) to June 30 , 2008 are included elsewhere in this Form 8K . Optimized Transportation Software , Inc audited financial statements for the period from October 30 , 2007 ( date of inception ) to June 30 , 2008 are also included elsewhere in this Form 8K . The unaudited pro forma condensed combined statement of operations for the nine months ended August 31 , 2008 assumes that the Exchange Transaction and Financing were consummated on November 1 , 2007 . The unaudited pro forma condensed combined balance sheet as of August 31 , 2008 assumes the Exchange Transaction was consummated on that date . The information presented in the unaudited pro forma condensed combined financial statements does not purport to represent what our financial position or results of operations would have been had the Exchange Transaction occurred as of the dates indicated , nor is it indicative of our future financial position or results of operations for any period . You should not rely on this information as being indicative of the historical results that would have been achieved had the companies always been combined or the future results that the combined companies will experience after the Exchange Transaction . The pro forma adjustments are based upon available information and certain assumptions that we believe are reasonable under the circumstances . These unaudited pro forma condensed combined financial statements should be read in conjunction with the accompanying notes and assumptions and the historical financial statements and related notes of us , Federal Logistics Inc . and Optimized Transportation Software , Inc F - 3 UNITED RESTAURANT MANAGEMENT , Inc . Pro forma condensed combined balance sheet March 31 , 2009 ( unaudited ) Federal Pro Forma Pro Forma UREM Logistics OTSI Adjustments Combined Assets Current assets Cash $ 9 $ 89,072 $ - $ - $ 89,081 Accounts receivable - 2,832,477 85,430 - 2,917,907 Advances - 382,433 - ( 243,612 ) 2 138,821 Surety bond - 10,445 - - 10,445 Total current assets 9 3,314,427 85,430 ( 243,612 ) 3,156,254 Equipment - 10,586 145,876 - 156,462 Total assets $ 9 $ 3,325,013 $ 231,306 $ ( 243,612 ) $ 3,312,716 Liabilities and stockholders ' equity ( deficit ) Liabilities Current liabilities Accounts payable $ 18,175 $ 5,963 $ 13,133 $ - $ 37,271 Accrued expenses - 2,631,619 - - 2,631,619 Line of credit - 359,337 - - 359,337 Other current liabilities 15,860 251,915 243,612 ( 243,612 ) 2 267,775 Stockholder 's note payable - 40,000 40,000 Total current liabilities 34,035 3,288,834 256,745 ( 243,612 ) 3,336,002 Total liabilities 34,035 3,288,834 256,745 ( 243,612 ) 3,336,002 Stockholders ' equity ( deficit ) Preferred stock - - - 1,200 1,200 Common stock 6,165 100 100 1,635 8,000 Additional paid - in capital 2,136,897 - - ( 2,179,923 ) ( 43,026 ) Retained earnings ( Accumulated deficit ) ( 2,177,088 ) 36,079 ( 25,539 ) 2,177,088 10,540 Total stockholders ' equity ( deficit ) ( 34,026 ) 36,179 ( 25,439 ) - ( 23,286 ) Total liabilities and stockholders ' equity ( deficit ) $ 9 $ 3,325,013 $ 231,306 $ ( 243,612 ) $ 3,312,716 See accompanying notes to these financial statements F - 4 UNITED RESTAURANT MANAGEMENT , Inc . Pro forma condensed combined statement of income For the nine months ended March 31 , 2009 ( unaudited ) Federal Pro Forma Pro Forma UREM Logistics OTSI Adjustments Combined three months ended Revenues $ - $ 6,403,761 $ 236,413 $ $ 6,640,174 Costs of operations - 5,985,824 132,648 - 6,118,472 Gross profit - 417,937 103,765 - 521,702 General and administrative expenses 16,423 290,621 206,830 - 513,874 Operating income ( loss ) ( 16,423 ) 127,316 ( 103,065 ) - 7,828 Interest expense 138 24,558 - - 24,696 Net Income ( loss ) $ ( 16,561 ) $ 102,758 $ ( 103,065 ) $ - $ ( 16,868 ) Net ( loss ) per common share basic $ ( 0 . 002 ) Net ( loss ) per common share diluted $ ( 0 . 001 ) Weighted average number of common shares outstanding , basic 8,000,000 Weighted average number of common shares outstanding , diluted 15,000,000 See accompanying notes to these financial statements F - 5 UNITED RESTAURANT MANAGEMENT , Inc . Notes to pro forma condensed combined financial statements March 31 , 2009 ( Unaudited ) ( Stated in US Dollars ) [ 1 ] The Share Exchange is being accounted for as a stock purchase of Florida Logistics , Inc . and Optimized Transportation Software , Inc . The assets and liabilities and the historical operations that will be reflected in the financial statements for periods prior to the Share Exchange will be those of the Registrant . After the completion of the Share Exchange , the Registrant ' s consolidated financial statements will include the assets and liabilities of the Registrant , FL & OTSI , the historical operations of FL & OTSI and the operations of the Registrant from the closing date of the Share Exchange . No arrangements or understandings exist among present or former controlling stockholders with respect to the election of members of the Registrant 's board of directors and , to our knowledge , no other arrangements exist that might result in a change of control of the Company . Further , as a result of the issuance of the shares of the Registrant 's common stock pursuant to the Share Exchange , a change in control of the Registrant occurred on the date of consummation of the Share Exchange . [ 2 ] To eliminate intercompany advances between subsidiaries [ 3 ] The pro forma statements assume the Exchange Transaction occurred at the beginning of the period presented ; weighted average number of shares therefore equals number of shares outstanding at the end of the completion of the transaction . Previously existing number of shares of UNITED RESTAURANT MANAGEMENT 2,500,000 Exchange Transaction 5,500,000 Weighted average number of common shares 8,000 000 UNITED RESTAURANT MANAGEMENT did not have any dilutive instrument during the nine months ended June 30 , 2009 , convertible preferred shares will be issued in connection with the Exchange Transaction . Accordingly , the reported diluted loss per share is different . F - 6
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY I-Parties.ACQUIRED_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O