EX-99.3 4 rivx_ex993.htm EX-99.3 rivx_ex993.htm

EXHIBIT 99.3

 

Rivex Technology Corp.

Pro Forma

Balance Sheet - Unaudited

March 31, 2019

 

 

 

Rivex

 

 

BigBreak101

 

 

 

 

 

 

 

Technology Corp.

 

 

Limited Group

 

 

Proforma

 

 

Proforma

 

 

 

March 31, 2019

 

 

March 31, 2019

 

 

Adjustments*

 

 

AsAdjusted

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$-

 

 

$-

 

 

$-

 

 

$-

 

Other current assets

 

 

-

 

 

 

44,177

 

 

 

-

 

 

 

44,177

 

Total Current Assets

 

 

-

 

 

 

44,177

 

 

 

-

 

 

 

44,177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

 

-

 

 

 

44,177

 

 

 

-

 

 

 

44,177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$21,921

 

 

$-

 

 

$-

 

 

$21,921

 

Due to related parties

 

 

9,629

 

 

 

-

 

 

 

-

 

 

 

9,629

 

Total Current Liabilities

 

 

31,550

 

 

 

-

 

 

 

-

 

 

 

31,550

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES

 

 

31,550

 

 

 

-

 

 

 

-

 

 

 

31,550

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share, 75,000,000 shares authorized, 6,180,000 shares issued and outstanding

 

 

6,180

 

 

 

-

 

 

 

20

 

 

 

6,200

 

Additional paid in capital (deficiency)

 

 

22,420

 

 

 

-

 

 

 

44,157

 

 

 

66,577

 

Retained earnings (deficit)

 

 

(60,150)

 

 

120,271

 

 

 

(120,271)

 

 

(60,150)

Owner’s withdraws

 

 

 

 

 

 

(76,094)

 

 

76,094

 

 

 

-

 

Total stockholders’ equity (deficit)

 

 

(31,550)

 

 

44,177

 

 

 

-

 

 

 

12,627

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

$-

 

 

$44,177

 

 

$-

 

 

$44,177

 

 

* The adjustments included in the pro forma balance sheet and statement of operations are as follows:

 

 

-

To record 20,000 shares of Rivex Technology Corp. unregistered common stock issued in exchange for assets acquired of BigBreak 101 Limited Group

 

 

-

To eliminate the owner withdraws, and retained earnings of BigBreak101 Limited Group

 

 
 
 
 

 

Rivex Technology Corp.

Pro Forma

Statement of Operations – Unaudited

Year Ended March 31, 2019

 

 

 

Rivex

Technology Corp.

Year ended

March 31, 2019

 

 

BigBreak101

Limited Group

Year ended

December 31, 2018

 

 

Proforma

Adjustments

 

 

Proforma

As Adjusted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$-

 

 

$113,150

 

 

$-

 

 

$113,150

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

55,982

 

 

 

14,258

 

 

 

-

 

 

 

70,240

 

Total Operating Expenses

 

 

55,982

 

 

 

14,258

 

 

 

-

 

 

 

70,240

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

(55,982)

 

 

98,892

 

 

 

-

 

 

 

42,910

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) Before Income Taxes

 

 

(55,982)

 

 

98,892

 

 

 

-

 

 

 

42,910

 

Provision for income taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$(55,982)

 

$98,892

 

 

$-

 

 

$42,910

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted Income (Loss) per Common Share

 

$(0.01)

 

$-

 

 

 

 

 

 

$0.01

 

Basic and Diluted Weighted Average Common Shares Outstanding

 

 

6,180,000

 

 

 

-

 

 

 

20,000

 

 

 

6,200,000

 

 

 
 
 
 

 

Rivex Technology Corp.

NOTES TO THE UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

 

Rivex Technology Corp. (the “Company”), a company incorporated under the laws of the State of Nevada, USA and Sungrow Venture Limited entered into a share exchange agreement in which Rivex Technology Corp. acquired assets, previously operating as BigBreak101 Limited Group, from Sungrow Venture Limited in exchange for 20,000 shares of Common Stock of Rivex Technology Corp.

 

1. BASIS OF PRO FORMA PRESENTATION

 

The unaudited pro forma condensed combined balance sheets have been derived from the historical March 31, 2019 balance sheet of Rivex Technology Corp., and balance sheet of BigBreak101 Limited Group as of March 31, 2019, after giving effect to asset acquisition. The pro forma balance sheet and statement of operations present this transaction as if they had been consummated as of March 31, 2019, as required under Article 11 of Regulation S-X.

 

Historical financial information has been adjusted in the pro forma balance sheet to pro forma events that are: (1) directly attributable to the asset acquisition; (2) factually supportable; and (3) expected to have a continuing impact on the Company’s results of operations. The pro forma adjustments presented in the pro forma condensed combined balance sheet and statement of operations are described in Note 3— Pro Forma Adjustments.

 

The unaudited pro forma combined financial information is for illustrative purposes only. These companies may have performed differently had they actually been combined for the periods presented. You should not rely on the pro forma condensed combined financial 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 merger. Unaudited pro forma financial information and the notes thereof should be read in conjunction with the accompanying historical financial statements of BigBreak101 Limited Group included elsewhere in this report.

 

2. ACCOUNTING PERIODS PRESENTED

 

Certain pro forma adjustments were made to conform BigBreak101 Limited Group’s accounting policies to the Company’s accounting policies.

 

The unaudited pro forma condensed combined balance sheet as of March 31, 2019 is presented as if the asset purchase had occurred on March 31, 2019, and combines the historical balance sheet of Rivex Technology Corp. at March 31, 2019 and the historical balance sheet of BigBreak101 Limited Group at March 31, 2019.

 

The unaudited pro forma condensed statement of operations for the period ended March 31, 2019 combines the twelve month historical results of Rivex Technology Corp. for the year ended March 31, 2019 and the twelve month historical results of BigBreak101 Limited Group for the year ended December 31, 2018.

 

3. PRO FORMA ADJUSTMENTS

 

The adjustments included in the pro forma balance sheet and statement of operations are as follows:

 

 

-

To record 20,000 shares of Rivex Technology Corp. unregistered common stock issued in exchange for assets acquired of BigBreak101 Limited Group

 

-

To eliminate the owner withdraws, and retained earnings of BigBreak101 Limited Group.