EXHIBIT 99.3a

 

Terra Tech Corp and Blum Oakland

Pro Forma Balance Sheet

As of December 31, 2015

 

 

 

Terra Tech

 

 

 

 

 

Pro Forma

 

 

 

 

 

 

Corp

 

 

Blum Oakland

 

 

Adjustments

 

 

Pro Forma

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$418,082

 

 

$366,410

 

 

$-

 

 

$784,492

 

Accounts receivable, net

 

 

741,844

 

 

 

-

 

 

 

(98,304)(1)

 

 

643,540

 

Prepaid expenses

 

 

147,230

 

 

 

-

 

 

 

-

 

 

 

147,230

 

Inventory

 

 

949,448

 

 

 

65,299

 

 

 

-

 

 

 

1,014,747

 

Total Current Assets

 

 

2,256,604

 

 

 

431,709

 

 

 

(98,304)

 

 

2,590,009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, equipment and leasehold improvements, net

 

 

6,694,975

 

 

 

702,294

 

 

 

-

 

 

 

7,397,269

 

Intangible assets, net

 

 

118,932

 

 

 

-

 

 

 

-

 

 

 

118,932

 

Intangible assets - Blum Oakland

 

 

 

 

 

 

 

 

 

 

25,000,000

 

 

 

25,000,000

 

Deposits

 

 

94,528

 

 

 

-

 

 

 

-

 

 

 

94,528

 

Total Assets

 

$9,165,039

 

 

$1,134,003

 

 

$24,901,696

 

 

$35,200,738

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$1,119,459

 

 

$213,471

 

 

$(98,304)(1)

 

$1,234,626

 

Derivative liability

 

 

743,400

 

 

 

-

 

 

 

-

 

 

 

743,400

 

Accrued liabilities

 

 

917,363

 

 

 

1,584,220

 

 

 

278,713(2)

 

 

2,780,296

 

Total Current Liabilities

 

 

2,780,222

 

 

 

1,797,691

 

 

 

180,409

 

 

 

4,758,322

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax liability, net

 

 

44,000

 

 

 

95,717

 

 

 

-

 

 

 

139,717

 

Total Long Term Liabilities

 

 

44,000

 

 

 

95,717

 

 

 

-

 

 

 

139,717

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitment and Contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Blum - Cash Contingency

 

 

 

 

 

 

 

 

 

 

2,088,000

 

 

 

2,088,000

 

Blum - Stock Contingency

 

 

 

 

 

 

 

 

 

 

8,512,000

 

 

 

8,512,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock, Convertible Series A, Par value $0.001;

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

authorized and issued 100 shares as of December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and 2014, respectively

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Preferred stock, Convertible Series B, Par value $0.001;

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

authorized 24,999,900 shares; issued and outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,300,000 and 15,500,000 shares as of December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and 2014, respectively

 

 

16,300

 

 

 

-

 

 

 

-

 

 

 

16,300

 

Common stock, Par value $0.001; authorized 350,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

shares; issued 303,023,744 and 197,532,892 shares as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of December 31, 2015 and 2014, respectively

 

 

303,024

 

 

 

100

 

 

 

-

 

 

 

303,124

 

Additional paid-in capital

 

 

51,843,071

 

 

 

-

 

 

 

-

 

 

 

51,843,071

 

Accumulated Deficit

 

 

(45,952,109)

 

 

(759,505)

 

 

(278,713) (2)

 

 

(46,990,327)

Total Terra Tech Corp. stockholders' equity

 

 

6,210,286

 

 

 

(759,405)

 

 

(278,713)

 

 

5,172,168

 

Non-controlling interest

 

 

130,531

 

 

 

-

 

 

 

-

 

 

 

130,531

 

Total Stockholders' Equity

 

 

6,340,817

 

 

 

(759,405)

 

 

(278,713)

 

 

5,302,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders' Equity

 

$9,165,039

 

 

$1,134,003

 

 

$(98,304)

 

$10,200,738

 

____________

Note 1 - Elimination of receivables and payables between entities.

Note 2 - Adjustment from Pro Forma Statement of Operations.

 

 

1

 

  

Terra Tech Corp and Blum Oakland

Pro Forma Statement of Operations

For the Year Ended December 31, 2015

 

 

 

Terra Tech

 

 

Blum

 

 

Pro Forma

 

 

 

 

 

 

Corp

 

 

Oakland

 

 

Adjustments

 

 

Pro Forma

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues

 

$9,975,346

 

 

$12,983,824

 

 

$(683,516) (1)

 

$22,275,654

 

Cost of Goods Sold

 

 

8,958,475

 

 

 

10,709,576

 

 

 

(512,803) (1)

 

 

19,155,248

 

 

 

 

1,016,871

 

 

 

2,274,248

 

 

 

(170,713)

 

 

3,120,406

 

Selling, general and administrative expenses

 

 

9,833,646

 

 

 

2,213,742

 

 

 

108,000 (2)

 

 

12,155,388

 

Loss from operations

 

 

(8,816,775)

 

 

60,506

 

 

 

(278,713)

 

 

(9,034,982)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expenses)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of debt discount

 

 

(696,180)

 

 

-

 

 

 

-

 

 

 

(696,180)

Loss on extinguishment of debt

 

 

(619,444)

 

 

-

 

 

 

-

 

 

 

(619,444)
Loss from derivatives issued with debt greater than debt carrying value

 

 

(561,000)

 

 

-

 

 

 

-

 

 

 

(561,000)

Gain (Loss) on fair market valuation of derivatives

 

 

1,800,100

 

 

 

-

 

 

 

-

 

 

 

1,800,100

 

Interest Income (Expense)

 

 

(469,576)

 

 

1,236

 

 

 

-

 

 

 

(468,340)

Total Other Income (Expense)

 

 

(546,100)

 

 

1,236

 

 

 

-

 

 

 

(544,864)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before Provision of Income Taxes

 

 

(9,362,875)

 

 

61,742

 

 

 

(278,713)

 

 

(9,579,846)

Provision for income taxes

 

 

44,000

 

 

 

636,628

 

 

 

-

 

 

 

680,628

 

Net Loss

 

 

(9,406,875)

 

 

(574,886)

 

 

(278,713)

 

 

(10,260,474)

Net Loss attributable to non-controlling interest

 

 

181,295

 

 

 

-

 

 

 

-

 

 

 

181,295

 

Net Loss attributable to Terra Tech Corp.

 

$(9,225,580)

 

$(574,886)

 

$(278,713)

 

$(10,079,179)

_____________

Note 1 - The revenue and cost of goods sold between Blum and IVXX have been eliminated.

Note 2 - The salaries to the Blum partners have been eliminated and replaced with the Platinum management agreement.

 

 

2