Full Press Release Details
PRO FORMA BALANCE SHEET
cosm_ex991.htm EXHIBIT 99.1
| As 'Adjusted Pro Forma (1) | Adjustments | September 30, 2021 | ||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS: | ||||||||||||
| Cash and cash equivalents | $ 5,683,875 | $ 4,650,000 | $ 1,033,875 | |||||||||
| Accounts receivable, net | 27,189,507 | - | 27,189,507 | |||||||||
| Accounts receivable - related party | 2,924,075 | - | 2,924,075 | |||||||||
| Marketable securities | 211,203 | - | 211,203 | |||||||||
| Inventory | 3,594,061 | - | 3,594,061 | |||||||||
| Prepaid expenses and other current assets | 5,912,171 | - | 5,912,171 | |||||||||
| Prepaid expenses and other current assets - related party | 2,253,351 | - | 2,253,351 | |||||||||
| Operating lease right-of-use asset | 913,541 | - | 913,541 | |||||||||
| Financing lease right-of-use asset | 252,051 | - | 252,051 | |||||||||
| TOTAL CURRENT ASSETS | 48,933,835 | 4,650,000 | 44,283,835 | |||||||||
| Property and equipment, net | 1,968,505 | - | 1,968,505 | |||||||||
| Goodwill and intangible assets, net | 508,267 | - | 508,267 | |||||||||
| Other assets | 805,264 | - | 805,264 | |||||||||
| Deferred tax assets | 111,468 | - | 111,468 | |||||||||
| TOTAL ASSETS | $ 52,327,339 | $ 4,650,000 | $ 47,677,339 | |||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||||||||||||
| CURRENT LIABILITIES: | ||||||||||||
| Accounts payable and accrued expenses | $ 11,712,477 | $ | - | $ 11,712,477 | ||||||||
| Accounts payable and accrued expenses - related party | 81,826 | - | 81,826 | |||||||||
| Accrued interest | 936,134 | - | 936,134 | |||||||||
| Convertible notes payable, net of unamortized discount of $407,206 and $494,973, respectively | 685,794 | (100,000 | ) | 785,794 | ||||||||
| Derivative liability - convertible note | 115,073 | - | 115,073 | |||||||||
| Notes payable | 13,914,767 | (1,190,475) | 15,105,242 | |||||||||
| Notes payable - related party | 474,889 | - | 474,889 | |||||||||
| Lines of credit | 4,667,324 | - | 4,667,324 | |||||||||
| Loans payable | 390,000 | - | 390,000 | |||||||||
| Convertible loans payable - related party | 742,132 | (750,000 | ) | 1,492,132 | ||||||||
| Taxes payable | 746,614 | - | 746,614 | |||||||||
| Operating lease liability, current portion | 173,801 | - | 173,801 | |||||||||
| Financing lease liability, current portion | 81,070 | - | 81,070 | |||||||||
| Other current liabilities | 665,119 | - | 665,119 | |||||||||
| TOTAL CURRENT LIABILITIES | 35,387,020 | (2,040,475) | 37,427,495 | |||||||||
| Share settled debt obligation | 1,554,590 | - | 1,554,590 | |||||||||
| Notes payable - long term portion | 3,020,846 | - | 3,020,846 | |||||||||
| Operating lease liability, net of current portion | 739,832 | - | 739,832 | |||||||||
| Financing lease liability, net of current portion | 182,169 | - | 182,169 | |||||||||
| Other liabilities | 101,446 | - | 101,446 | |||||||||
| TOTAL LIABILITIES | 40,985,903 | (2,040,475) | 43,026,378 | |||||||||
| STOCKHOLDERS' EQUITY: | ||||||||||||
| Preferred stock, $0.001 par value; 100,000,000 shares authorized; 5,000,000 shares issued and outstanding as of December 8, 2021 | 5,000 | 5,000 | - | |||||||||
| Common stock, $0.001 par value; 300,000,000 shares authorized; 17,720,723 shares issued as of December 8, 2021 | 17,720 | 388 | 17,332 | |||||||||
| Additional paid-in capital | 37,181,500 | 7,035,087 | 30,146,413 | |||||||||
| Treasury stock, 293,208 and 415,328 shares as of December 8, 2021, | (439,844 | ) | - | (439,844 | ) | |||||||
| Accumulated deficit | (25,590,326) | (350,000 | ) | (25,240,326) | ||||||||
| Accumulated other comprehensive income | 167,386 | - | 167,386 | |||||||||
| TOTAL STOCKHOLDERS' EQUITY | 11,341,436 | 6,690,475 | 4,650,961 | |||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 52,327,339 | $ 4,650,000 | $ 47,677,339 |