Exhibit 99.3

 

 

ALTERNATIVE SOLUTIONS L.L.C. / CLS HOLDINGS USA, INC.

PRO FORMA CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

 

   

For the Year Ended

 
   

May 31, 2018

 
   

Alternative

   

CLS USA

           

Pro Forma

 
   

Solutions, LLC

   

Holdings, Inc.

   

Elimination

   

Combined

 

ASSETS

                               
                                 

Current assets

  $ 2,337,736     $ 54,374     $ -     $ 2,392,110  

Other assets

    1,106,277       2,050,898       (2,050,000 )     1,107,175  
                                 

Total assets

  $ 3,444,013     $ 2,105,272     $ (2,050,000 )   $ 3,499,285  
                                 
                                 

LIABILITIES AND EQUITY (DEFICIT)

                               
                                 

Current liabilities

  $ 1,260,540     $ 2,689,148     $ -     $ 3,949,688  

Long-term liabilities

    -       43,904       -       43,904  
                                 

Total liabilities

    1,260,540       2,733,052       -       3,993,592  
                                 

Equity (deficit):

                               

Partners' capital

    7,303,971       -       (7,303,971 )     -  

Common stock

    -       5,013       -       5,013  

Additional paid-in capital

    -       17,628,717       133,473       17,762,190  

Stock payable

    -       307,584       -       307,584  

Accumulated deficit

    (5,120,498 )     (18,569,094 )     5,120,498       (18,569,094 )

Total equity (deficit)

    2,183,473       (627,780 )     (2,050,000 )     (494,307 )
                                 

Total liabilities and equity (deficit)

  $ 3,444,013     $ 2,105,272     $ (2,050,000 )   $ 3,499,285  

 

1

 

 

 

 

   

For the Year Ended

 
   

May 31, 2017

 
   

Alternative

   

CLS USA

           

Pro Forma

 
   

Solutions, LLC

   

Holdings, Inc.

   

Elimination

   

Combined

 

ASSETS

                               
                                 

Current assets

  $ 675,185     $ 79,720     $ -     $ 754,905  

Other assets

    1,225,783       52,220       -       1,278,003  
                                 

Total assets

  $ 1,900,968     $ 131,940     $ -     $ 2,032,908  
                                 
                                 

LIABILITIES AND EQUITY (DEFICIT)

                               
                                 

Current liabilities

  $ 1,207,180     $ 1,826,478     $ -     $ 3,033,658  

Long-term liabilities

    -       192,000       -       192,000  
                                 

Total liabilities

    1,207,180       2,018,478       -       3,225,658  
                                 

Equity (deficit):

                               

Partners' capital

    4,578,971       -       (4,578,971 )     -  

Common stock

    -       3,286       -       3,286  

Additional paid-in capital

    -       7,032,836       693,788       7,726,624  

Stock payable

    -       68,950       -       68,950  

Accumulated deficit

    (3,885,183 )     (8,991,610 )     3,885,183       (8,991,610 )

Total equity (deficit)

    693,788       (1,886,538 )     -       (1,192,750 )
                                 

Total liabilities and equity (deficit)

  $ 1,900,968     $ 131,940     $ -     $ 2,032,908  

 

2

 

 

 

 

ALTERNATIVE SOLUTIONS L.L.C. / CLS HOLDINGS USA, INC.

PRO FORMA STATEMENTS OF OPERATIONS

(Unaudited)

 

   

For the Year Ended

 
   

May 31, 2018

 
   

Alternative

   

CLS USA

   

Pro Forma

 
   

Solutions, LLC

   

Holdings, Inc.

   

Combined

 
                         

Revenue

  $ 7,258,443     $ -     $ 7,258,443  

Cost of goods sold

    4,586,221       -       4,586,221  

Gross Profit

    2,672,222       -       2,672,222  
                         

Operating expenses

    3,877,117       3,116,040       6,993,157  

Net operating loss

    (1,204,895 )     (3,116,040 )     (4,320,935 )
                         

Other income (expense)

    (67,641 )     (6,461,444 )     (6,529,085 )

Net loss

  $ (1,272,536 )   $ (9,577,484 )   $ (10,850,020 )
                         

Weighted average number of common

                       

shares outstanding - basic and fully diluted

            39,224,613       60,053,738  
                         

Net (loss) per share - basic and fully diluted

          $ (0.24 )   $ (0.18 )

 

3

 

 

 

 

   

For the Year Ended

 
   

May 31, 2017

 
   

Alternative

   

CLS USA

   

Pro Forma

 
   

Solutions, LLC

   

Holdings, Inc.

   

Combined

 
                         

Revenue

  $ 1,367,196     $ -     $ 1,367,196  

Cost of goods sold

    1,164,617       -       1,164,617  

Gross Profit

    202,579       -       202,579  
                         

Operating expenses

    1,811,702       1,610,955       3,422,657  

Net operating loss

    (1,609,123 )     (1,610,955 )     (3,220,078 )
                         

Other income (expense):

    (459,020 )     (3,254,769 )     (3,713,789 )

Net loss

  $ (2,068,143 )   $ (4,865,724 )   $ (6,933,867 )
                         

Weighted average number of common

                       

shares outstanding - basic and fully diluted

            20,778,785       42,837,608  
                         

Net (loss) per share - basic and fully diluted

          $ (0.23 )   $ (0.16 )

 

 

 

 

 

4