Description of Transaction
EXHIBIT 99.3
Description of Transaction
On February 11, 2019, we entered into a share exchange agreement, or the Share Exchange Agreement, with by and among us, Lovego Holdings Limited, a corporation organized under the laws of the Cayman Islands (“Lovego Holdings”), Lovego Hong Kong Limited, a Hong Kong corporation, Shanghai Lepan Business Information Consulting Co., Ltd., a corporation organized under the laws of the Peoples Republic of China (“PRC”), Shenzhen Qianhai Lefu E-Commerce Co., Ltd., a PRC corporation and Shanghai Lefu E-Commerce Co., Ltd., a PRC corporation and the shareholders of Lovego Holdings (the “Shareholders”). Pursuant to the Share Exchange Agreement, the Shareholders transferred all of the shares of the capital stock of Lovego Holdings held by them, constituting all of the issued and outstanding stock of Lovego Holdings, in exchange for 710,666,640 newly issued shares of our Common Stock, par value $.0001 per share, that constituted approximately 71% of our issued and outstanding capital stock on a fully-diluted basis as of and immediately after the consummation of the transactions contemplated by the Share Exchange Agreement.
Accounting for the Merger
The merger will be accounted for, in accordance with U.S. GAAP, as a “reverse merger” and recapitalization at the date of the consummation of the transaction since the stockholders of Lovego Holidngs Limited will own at least 50.1% of the outstanding common stock of Love International Group, Inc. immediately following the completion of the merger, Lovego Holidngs Limited will have its current officers assuming all corporate and day-to-day management offices of Love International Group, Inc, including chief executive officer and chief financial officer, and board members appointed by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Limited will constitute a majority of the board of the Successor after the Business Combination. Accordingly, Lovego Holidngs Limited will be deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of Lovego Holidngs Limited. Accordingly, the assets and liabilities and the historical operations that will be reflected in the Love International Group, Inc financial statements after consummation of the merger will be those of Lovego Holidngs Limited and will be recorded at the historical cost basis of Lovego Holidngs Limited. Love International Group, Inc’s assets, liabilities and results of operations will be consolidated with the assets, liabilities and results of operations of Lovego Holidngs Limited upon consummation of the merger.
Basis of Pro Forma Presentation
The historical financial information has been adjusted to give pro forma effect to events that are related and/or directly attributable to the Business Combination, are factually supportable and are expected to have a continuing impact on the results of the Successor. The adjustments presented on the unaudited pro forma condensed combined financial statements have been identified and presented to provide relevant information necessary for an accurate understanding of the combined company upon consummation of the Business Combination.
The unaudited pro forma condensed combined financial information is for illustrative purposes only. The financial results may have been different had the companies always been combined. You should not rely on the unaudited 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 company will experience. Love International Group Inc. and Lovego Holdings Limited and Subsidiaries have not had any historical relationship prior to the Business Combination. Accordingly, no pro forma adjustments were required to eliminate activities between the companies.
As a result of the Business Combination, Lovego Holdings Limited stockholders will own approximately 71% of the Successor’s Common Stock to be outstanding immediately after the Business Combination, Love International’s shareholders will own approximately 29% of Successor’s Common Stock Stock to be outstanding immediately after the Business Combination. (not giving effect to any shares issuable to them upon exercise of warrants).
Included in the shares outstanding and weighted average shares outstanding as presented in the pro forma condensed combined financial statements are 710,666,640 shares of Common Stock to be issued to Lovego Holdings Limited’s stockholders.
The following unaudited pro forma condensed combined balance sheet as of September 30, 2018 combines the unaudited historical consolidated balance sheet of Love International Group Inc. as of September 30, 2018 with the unaudited historical condensed consolidated balance sheet of Lovego Holdings Limited as of September 30, 2018, giving effect to the Business Combination as if it had been consummated as of that date.
The following unaudited pro forma condensed combined statement of operations for the nine months ended September 30, 2018 combines the unaudited historical condensed consolidated statement of operations of Love International Group Inc. for the nine months ended September 30, 2018 with the unaudited historical condensed consolidated statement of operations of Lovego Holdings Limited for the nine months ended September 30, 2018, giving effect to the Business Combination as if it had occurred as of the beginning of the earliest period presented.
The following unaudited pro forma condensed combined income statement for year ended December 31, 2017 combines the audited historical consolidated statement of income of Love International Group Inc. for year ended December 31, 2017 with the audited historical consolidated statement of operations of Lovego Holdings Limited for year ended December 31, 2017, giving effect to the Business Combination as if it had occurred as of the beginning of the earliest period presented.
The historical information of Lovego Holdings Limited was derived from the unaudited consolidated financial statements for the nine months ended September 30, 2018 are included as Exhibit 99.2 to this Form 8-K. The audited consolidated financial statements of Lovego Holdings Limited for the year ended December 31, 2017 and 2016 are included as Exhibit 99.1 to this Form 8-K. The historical information of Love International Group Inc. was derived from the unaudited condensed consolidated financial statements for the nine months ended September 30, 2018 and for the audited consolidated financial statements for the year ended December 31, 2017 are included in the quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 13, 2018 and the annual report on Form 10-K filed with the Securities Exchange Commission on April 3, 2018.
| PRO FORMA CONSOLIDATED BALANCE SHEET | ||||||||||||||
| AS OF SEPTEMBER 30, 2018 | ||||||||||||||
| (UNAUDITED) |
|
|
|
|
| LOVEGO HOLDINGS LIMITED AND SUBSIDIARIES |
|
| PRO FORMA ADJUSTMENTS |
|
| PRO FORMA TOTAL |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| ASSETS |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Current Assets |
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Cash and cash equivalents |
| $ | - |
|
| $ | 215,523 |
|
|
|
|
| $ | 215,523 |
| |
| Advances to supplier |
|
| - |
|
|
| 528,407 |
|
|
|
|
|
| 528,407 |
| |
| Inventories |
|
| - |
|
|
| 368,349 |
|
|
|
|
|
| 368,349 |
| |
| Other receivable |
|
| 3,300 |
|
|
| 267,955 |
|
|
|
|
|
| 271,255 |
| |
| Total Current Assets |
|
| 3,300 |
|
|
| 1,380,234 |
|
|
|
|
|
| 1,383,534 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Accumulated Depreciation Property and equipment, net |
|
|
|
|
|
| 708,798 |
|
|
|
|
|
| 708,798 |
| |
| Software Other assets |
|
| - |
|
|
| - |
|
|
|
|
|
| - |
| |
| Total Assets |
| $ | 3,300 |
|
| $ | 2,089,032 |
|
|
|
|
| $ | 2,092,332 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Accounts Payable |
| $ | 1,400 |
|
| $ | 898,396 |
|
|
|
|
| $ | 899,796 |
| |
| Other payable - reward point |
|
| - |
|
|
| 161,118 |
|
|
|
|
|
| 161,118 |
| |
| Advances from customers |
|
| - |
|
|
| 3,136,704 |
|
|
|
|
|
| 3,136,704 |
| |
| Accrued payroll |
|
| - |
|
|
| 202,812 |
|
|
|
|
|
| 202,812 |
| |
| Taxes payable |
|
| - |
|
|
| 108,494 |
|
|
|
|
|
| 108,494 |
| |
| Other payable |
|
| - |
|
|
| 64,136 |
|
|
|
|
|
| 64,136 |
| |
| Due to related party |
|
| 167,466 |
|
|
| - |
|
|
|
|
|
| 167,466 |
| |
| Short term loan from a related party |
|
| - |
|
|
| 733,914 |
|
|
|
|
|
| 733,914 |
| |
| Total Current Liabilities |
|
| 168,866 |
|
|
| 5,305,574 |
|
|
|
|
|
| 5,474,440 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Long Term Loan |
|
| - |
|
|
| 1,478,955 |
|
|
|
|
|
| 1,478,955 |
| |
| Long Term Loan From A Related Party |
|
| - |
|
|
| 2,543,632 |
|
|
|
|
|
| 2,543,632 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Total Liabilities |
|
| 168,866 |
|
|
| 9,328,161 |
|
|
|
|
|
| 9,497,027 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 1,000,000,000 shares issued and outstanding |
|
| 28,933 |
|
|
| - |
|
|
| 71,067 |
|
|
| 100,000 |
|
| Additional paid in capital |
|
| 33,383 |
|
|
| - |
|
|
| 4,250,412 |
|
|
| 4,283,795 |
|
| Member's capital |
|
| - |
|
|
| 4,549,361 |
|
|
| (4,549,361 | ) |
|
| - |
|
| Accumulated deficit |
|
| (227,882 | ) |
|
| (11,982,248 | ) |
|
| 227,882 |
|
|
| (11,982,248 | ) |
| Accumulated other comprehensive loss |
|
| - |
|
|
| 193,758 |
|
|
|
|
|
|
| 193,758 |
|
| Total stockholders' deficit |
|
| (165,566 | ) |
|
| (7,239,129 | ) |
|
|
|
|
|
| (7,404,695 | ) |
| Total Liabilities and Stockholders' Deficit |
| $ | 3,300 |
|
| $ | 2,089,032 |
|
|
|
|
|
| $ | 2,092,332 |
|
Adjustments reflect the recapitalization of Lovego Holdings Limited through the contribution of all the share capital in Lovego Holdings Limited to Love International Group Inc., and the issuance of 710,666,640 shares of Common Stock to existing Lovego Holdings Limited and the elimination of the historical accumulated deficit of Love International Group, Inc.
| CONSOLIDATED STATEMENT OF OPERATIONS |
| FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 |
| (UNAUDITED) |
|
|
|
|
| LOVEGO HOLDINGS LIMITED AND SUBSIDIARIES |
|
| PRO FORMA ADJUSTMENTS |
| PRO FORMA TOTAL |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||
| Revenue |
|
|
|
|
|
|
|
|
|
|
| |||
| E-commerce Sales |
| $ | - |
|
| $ | 881,171 |
|
|
|
| $ | 881,171 |
|
| Operation Royalties |
|
| - |
|
|
| 2,070,640 |
|
|
|
|
| 2,070,640 |
|
| Total Revenue |
|
| - |
|
|
| 2,951,811 |
|
|
|
|
| 2,951,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| E-commerce Sales |
|
| - |
|
|
| 945,790 |
|
|
|
|
| 945,790 |
|
| Operation Royalties |
|
| - |
|
|
| 37,487 |
|
|
|
|
| 37,487 |
|
| Total Cost of Revenues |
|
| - |
|
|
| 983,277 |
|
|
|
|
| 983,277 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross Profit |
|
| - |
|
|
| 1,968,534 |
|
|
|
|
| 1,968,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling expenses |
|
| - |
|
|
| 728,102 |
|
|
|
|
| 728,102 |
|
| General and administrative expenses |
|
| 40,744 |
|
|
| 3,999,497 |
|
|
|
|
| 4,040,241 |
|
| Total operating expenses |
|
| 40,744 |
|
|
| 4,727,599 |
|
|
|
|
| 4,768,343 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Loss |
|
| (40,744 | ) |
|
| (2,759,065 | ) |
|
|
|
| (2,799,809 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment income |
|
| - |
|
|
| - |
|
|
|
|
| - |
|
| Interest expense, net |
|
| - |
|
|
| (110,386 | ) |
|
|
|
| (110,386 | ) |
| Other income |
|
| - |
|
|
| 42,974 |
|
|
|
|
| 42,974 |
|
| Other expense |
|
| - |
|
|
| (186,865 | ) |
|
|
|
| (186,865 | ) |
| Other Income/Expense |
|
| - |
|
|
| (254,277 | ) |
|
|
|
| (254,277 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income taxes |
|
| (40,744 | ) |
|
| (3,013,342 | ) |
|
|
|
| (3,054,086 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Tax Expense |
|
| - |
|
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
| $ | (40,744 | ) |
| $ | (3,013,342 | ) |
|
|
| $ | (3,054,086 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Comprehensive Income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation gain (loss) |
|
|
|
|
|
| 399,753 |
|
|
|
|
| 399,753 |
|
| Total Comprehensive Loss |
| $ | (40,744 | ) |
| $ | (2,613,589 | ) |
|
|
| $ | (3,654,333 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss per share - basic and diluted |
| $ | (0.00 | ) |
|
|
|
|
|
|
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| basic and diluted |
|
| 289,333,360 |
|
|
|
|
|
|
|
|
| 1,000,000,000 |
|
| PRO FORMA CONSOLIDATED BALANCE SHEET |
| AS OF DECEMBER 31, 2017 |
| (UNAUDITED) |
|
|
|
|
| LOVEGO HOLDINGS LIMITED AND SUBSIDIARIES |
|
| PRO FORMA ADJUSTMENTS |
|
| PRO FORMA TOTAL |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| ASSETS |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Current Assets |
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Cash and cash equivalents |
| $ | - |
|
| $ | 1,066,250 |
|
|
|
|
| $ | 1,066,250 |
| |
| Advances to supplier |
|
| - |
|
|
| 415,535 |
|
|
|
|
|
| 415,535 |
| |
| Inventories |
|
| - |
|
|
| 384,006 |
|
|
|
|
|
| 384,006 |
| |
| Other receivable |
|
| 20,000 |
|
|
| 448,120 |
|
|
|
|
|
| 468120 |
| |
| Total Current Assets |
|
| 20,000 |
|
|
| 2,313,911 |
|
|
|
|
|
| 2,333,911 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Accumulated Depreciation Property and equipment, net |
|
|
|
|
|
| 859,319 |
|
|
|
|
|
| 859,319 |
| |
| Software Other assets |
|
| - |
|
|
| 2,917 |
|
|
|
|
|
| 2,917 |
| |
| Total Assets |
| $ | 20,000 |
|
| $ | 3,176,147 |
|
|
|
|
| $ | 3,196,147 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Accounts Payable |
| $ | 7661 |
|
| $ | 805,950 |
|
|
|
|
| $ | 813,611 |
| |
| Other payable - reward point |
|
| - |
|
|
| 640,052 |
|
|
|
|
|
| 640,052 |
| |
| Advances from customers |
|
| - |
|
|
| 5,704,507 |
|
|
|
|
|
| 5,704,507 |
| |
| Accrued payroll |
|
| - |
|
|
| 312,049 |
|
|
|
|
|
| 312,049 |
| |
| Taxes payable |
|
| - |
|
|
| 263,467 |
|
|
|
|
|
| 263,467 |
| |
| Other payable |
|
| - |
|
|
| 75,662 |
|
|
|
|
|
| 75,662 |
| |
| Due to related party |
|
| 137,161 |
|
|
| - |
|
|
|
|
|
| 137,161 |
| |
| Total Current Liabilities |
|
| 144,822 |
|
|
| 7,801,687 |
|
|
|
|
|
| 7,946,509 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Total Liabilities |
|
| 144,822 |
|
|
| 7,801,687 |
|
|
|
|
|
| 7,946,509 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 1,000,000,000 shares issued and outstanding, respectively |
|
| 28,933 |
|
|
| - |
|
|
| 71,067 |
|
|
| 100,000 |
|
| Additional paid in capital |
|
| 33,383 |
|
|
| - |
|
|
| 4,291,156 |
|
|
| 4,324,539 |
|
| Share capital |
|
| - |
|
|
| 4,549,361 |
|
|
| (4,549,361 | ) |
|
| - |
|
| Retained earnings |
|
| (187,138 | ) |
|
| (8,968,906 | ) |
|
| 187,138 |
|
|
| (8,968,906 | ) |
| Accumulated other comprehensive loss |
|
| - |
|
|
| (205,995 | ) |
|
|
|
|
|
| (205,995 | ) |
| Total stockholders' deficit |
|
| (124,822 | ) |
|
| (4,625,540 | ) |
|
|
|
|
|
| (4,750,362 | ) |
| Total Liabilities and Stockholders' Deficit |
| $ | 20,000 |
|
| $ | 3,176,147 |
|
|
|
|
|
| $ | 3,196,147 |
|
Adjustments reflect the recapitalization of Lovego Holdings Limited through the contribution of all the share capital in Lovego Holdings Limited to Love International Group Inc., and the issuance of 710,666,640 shares of Common Stock to existing Lovego Holdings Limited and the elimination of the historical accumulated deficit of Love International Group, Inc.
| CONSOLIDATED STATEMENT OF OPERATIONS |
| FOR THE YEAR ENDED DECEMBER 31, 2017 |
| (UNAUDITED) |
|
|
| LOVE INTERNATIONAL GROUP, INC. |
|
| LOVEGO HOLDINGS LIMITED AND SUBSIDIARIES |
|
| PRO FORMA ADJUSTMENTS |
| PRO FORMA TOTAL |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
| |||
| Revenue |
|
|
|
|
|
|
|
|
|
|
| |||
| E-commerce Sales |
| $ | - |
|
| $ | 1,780,934 |
|
|
|
| $ | 1,780,934 |
|
| Operation Royalties |
|
| - |
|
|
| 2,763,254 |
|
|
|
|
| 2,763,254 |
|
| Total Revenue |
|
|
|
|
|
| 4,544,188 |
|
|
|
|
| 4,544,188 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| E-commerce Sales |
|
| - |
|
|
| 1,888,256 |
|
|
|
|
| 1,888,256 |
|
| Operation Royalties |
|
| - |
|
|
| 652,417 |
|
|
|
|
| 652,417 |
|
| Total Cost of Revenues |
|
|
|
|
|
| 2,540,673 |
|
|
|
|
| 2,540,673 |
|
|
|
|
| - |
|
|
|
|
|
|
|
|
|
|
|
| Gross Profit |
|
| - |
|
|
| 2,003,515 |
|
|
|
|
| 2,003,515 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling expenses |
|
|
|
|
|
| 2,981,324 |
|
|
|
|
| 2,981,324 |
|
| General and administrative expenses |
|
| 44,655 |
|
|
| 4,913,096 |
|
|
|
|
| 4,957,751 |
|
| Total operating expenses |
|
| 44,655 |
|
|
| 7,894,420 |
|
|
|
|
| 7,939,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Loss |
|
| (44,655 | ) |
|
| (5,890,905 | ) |
|
|
|
| (5,935,560 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
|
| - |
|
|
| 1,338 |
|
|
|
|
| 1,338 |
|
| Interest expense |
|
| - |
|
|
| (122,502 | ) |
|
|
|
| (122,502 | ) |
| Other income |
|
| - |
|
|
| 25,066 |
|
|
|
|
| 25,066 |
|
| Other expense |
|
| - |
|
|
| (476,074 | ) |
|
|
|
| (476,074 | ) |
| Other Income/(Expense) |
|
| - |
|
|
| (572,172 | ) |
|
|
|
| (572,172 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income taxes |
|
| (44,655 | ) |
|
| (6,463,077 | ) |
|
|
|
| (6,507,732 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Tax Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
| $ | (44,655 | ) |
| $ | (6,463,077 | ) |
|
|
| $ | (6,507,732 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Comprehensive Income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation gain (loss) |
|
| - |
|
|
| (315,352 | ) |
|
|
|
| (315,352 | ) |
| Total Comprehensive Loss |
| $ | (44,655 | ) |
| $ | (6,778,429 | ) |
|
|
| $ | (6,823,084 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss per share - basic and diluted |
| $ | 0.00 |
|
|
|
|
|
|
|
| $ | (0.00 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| basic and diluted |
|
| 289,333,360 |
|
|
|
|
|
|
|
|
| 1,000,000,000 |
|