Igate dev corp financial statements mar 2018

iGATE Development Corporation Financial Statements

For the Month and Year-to-Date Period Ended March 31, 2018 (unaudited)

iGATE Development Corporation Statements of Financial Position (unaudited)

March 31, 2018

June 30, 2017

Assets Current Assets Cash Intercompany - iGate Nest Prepaid expenses & Other assets Total current assets

$

Fixed Assets Furniture and Equipment Leasehold Improvements Total fixed assets Accumulated Depreciation Fixed assets -net

Total Assets

35,864 7,046 56,723 99,633

$ 247,729 7,046 39,169 293,944

34,233 274,937 309,170 (14,878) 294,292 $

393,925

$

3,230 5,131

25,311 39,184 64,495 (23,504) 40,991 $ 334,935

Liabilities and Net Assets Current Liabilities Accounts payable Accrued Payroll and Expenses Total Current Liabilities Deferred Rent Line of Credit Net Assets Unrestricted Temporarily restricted Permanently Restricted Total Net Assets

Total Liabilities and Net Assets

$

$

3,494 1,557

8,361

5,051

222,116 248,386

18,048 248,386

(84,938)

63,450

(84,938)

63,450

393,925

$ 334,935

iGATE Development Corporation Statements of Activities

For the Month and Year-to-Date Period Ended March 31, 2018 (unaudited)

Month Revenue Government Grant Corporate Sponsorship Membership Dues Gross Margin

Year-to-Date

1,800 12,435 14,235

$

92,856 28,176 99,335 220,367

Consulting & Outside Services Facilities & Other Expenses General & Administrative Membership and Dues Program Events Advertising & Marketing Travel & Meetings Personnel Total expenses

600 27,460 2,822 10,406 298 130 4,895 46,611

12,731 232,873 16,120 10,406 16,922 1,875 2,246 41,993 335,166

Income (Loss) before interest and taxes

(32,376)

(114,799)

(0)

Expenses

Taxes and interest Other Losses Decrease in Net Assets

$

(32,376)

$

3,031 (30,558) (148,388)

Net Assets Beginning of the Period Net Assets End of the Period

$ $

(52,562) (84,938)

$ $

63,450 (84,938)

iGATE Development Corporation Statement of Functional Expenses

For the Month and Year-to-Date Period Ended March 31, 2018 (unaudited)

Month Consulting & Outside Services Accounting and other Contract servcies Total Consulting & Outside Services

$

Facilities & Other Expenses Janitorial Repairs & Maintenance Expensed Furniture Rent Building Opex Telecommunications IT Services Water Sanitation Internet Electricity & Gas Online Subscriptions Security Total Facilities & Other Expenses

Year-to-Date

600 600

$

1,000 3,414

8,975 17,895 4,320 120,979 29,275 3,789 7,158 2,346 3,152 5,575 26,808 2,421 180 232,873

13,903 4,879 430 250 350 705 2,294 215 20 27,460

Office/General Administrative Expenses Bank & Other Fees Expensed Equipment Postage, Mailing Service Printing and Copying Office Supplies Insurance Total Office/General Administrative Expenses

3 28 850 1,743 198 2,822

12 711 98 3,027 10,490 1,782 16,120

10,406 10,406

10,406 10,406

298

12,422 4,500 16,922

-

Other Types of Expenses Membership and Dues Total Program Events Program Events Catering Other Expenses Total Program Events

12,731 12,731

298

Advertising and Marketing Marketing Total Advertising & marketing

-

1,875 1,875

Travel & Meetings Travel & Meals Total Travel and Meals

130 130

2,246 2,246

395 4,500 4,895

2,985 39,008 41,993

Personnel Payroll Fee & Other Expense Salaries & Wages & Employer Tax Total Salaries & Related Expenses Total expenses

$

46,611

$

335,166

iGATE Development Corporation Statements of Cash Flows

For the Month and Year- To- Date Period Ended March 31, 2018 (unaudited)

Month Cash flows from operating activities Decrease in net assets Adjustments to reconcile net loss to net cash used in operating activities: Accounts Receivable Trade Payables Depreciation and amortization Accrued Liability Deferred Rent Changes in expenses and other current assets: Intercompany - iGate Nest Other assets

$

Year-to-Date

(32,376)

$

(670)

(148,388)

(412) (4,432)

(264) (8,626) 3,574 204,067

(10,208)

(17,554)

(48,098)

32,809

Cash flows from investing activities Purchase of equipment and leasehold improvements Net cash used in investing activities

-

(244,674) (244,674)

Cash flow from financing activities Loan proceeds Net cash (used) provided by financing activities

-

Net cash from (used in) operating activities

Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period

$

(48,098) 83,962 35,864

-

$

(211,865) 247,729 35,864

i-GATE Development Corporat Profit and Loss July 2017 - March 2018 Jul 2017

Aug 2017

Sep 2017

Income 43320 Corporate Sponsorship

775.79

43390 Government Sponsorship 47200 Program Revenue 47230 Membership Dues Total 47200 Program Revenue

13,626.19

12,363.83

10,507.86

$

13,626.19 $

12,363.83 $

10,507.86

Total Income

$

13,626.19 $

13,139.62 $

10,507.86

Gross Profit

$

13,626.19 $

13,139.62 $

10,507.86

600.00

719.00

Expenses 62100 Consulting & Outside Services 62110 Accounting Fees 62150 Outside Contract Services Total 62100 Consulting & Outside Services

2,966.25 $

3,566.25 $

647.50 2,957.75

719.00 $

3,605.25

62805 Facilities & Other Expenses 62801 Janitorial 62802 Repairs & Maintenance

0.00

788.36

824.35

2,337.03

1,921.83

3,032.79

2,905.68

1,414.49

18,048.41

1,465.51

62842 Expensed Furniture 62890 Rent

18,048.41

62892 Building Opex

-4,879.20

4,879.20

62893 Utilities 62894 Telecomunication 62895 IT Services

61.83

972.54

86.50

1,293.49

1,190.00

2,047.76

62897 Water

282.58

290.60

303.93

62898 Sanitation

350.30

350.15

350.15

652.33

691.93

3,374.73

3,642.98

5,830.27

340.00

364.00

215.00

62899 Internet 65070 Electricity & Gas 65080 Online Subscriptions Total 62893 Utilities

$

62896 Security Total 62805 Facilities & Other Expenses

$

5,702.93 $

7,462.60 $

20.00

20.00

21,229.17 $

31,146.88 $

9,525.54 20.00 21,161.88

65000 Office/General Administrative Expenses 60930 Bank & Other Fees

3.00

62841 Expensed Equipment 65020 Postage, Mailing Service

49.50

65030 Printing and Copying

520.80

65040 Office Supplies

478.25

700.24

2,315.36

65120 Insurance - Liability, D and O

198.00

198.00

198.00

Total 65000 Office/General Administrative Expenses

$

676.25 $

1,422.04 $

2,562.86

$

0.00 $

0.00 $

0.00

65100 Other Types of Expenses 65150 Memberships and Dues Total 65100 Other Types of Expenses 65500 Program Events 65521 Catering

919.56

842.22

1,199.01

65522 Program Sponsorship Total 65500 Program Events

4,500.00 $

5,419.56 $

842.22 $

1,199.01

65520 Advertising & Marketing 65501 Marketing Total 65520 Advertising & Marketing

300.00 $

0.00 $

300.00 $

0.00

68300 Travel and Meetings 68320 Travel

516.40

68340 Meals

441.79

372.55

958.19 $

372.55

522.50

370.65

Total 68300 Travel and Meetings

$

0.00 $

70000 Personnel 70010 Payroll Fees & Other Expenses

245.90

70020 Salaries & Related Expenses 70021 Employer Taxes

262.43

287.89

260.46

3,719.38

3,760.62

3,410.00

$

3,981.81 $

4,048.51 $

3,670.46

$

4,227.71 $

4,571.01 $

4,041.11

Total Expenses

$

35,118.94 $

39,959.34 $

32,942.66

Net Operating Income

-$

21,492.75 -$

26,819.72 -$

22,434.80

0.02

0.03

0.03

0.02 $

0.03 $

0.03

70022 Salaries & Wages Total 70020 Salaries & Related Expenses Total 70000 Personnel

Other Income 45030 Interest-Savings, Short-term CD Total Other Income

$

Other Expenses 65300 Tax & Fees 65331 County Taxes Total 65300 Tax & Fees

1,056.64 $

0.00 $

1,056.64 $

65400 Other Losses

23.00 23.00 30,557.65

Total Other Expenses

$

0.00 $

1,056.64 $

30,580.65

Net Other Income

$

0.02 -$

1,056.61 -$

30,580.62

Net Income

-$

21,492.73 -$

27,876.33 -$

53,015.42

velopment Corporation Profit and Loss

ly 2017 - March 2018 Oct 2017

Nov 2017

Dec 2017

25,000.00

Jan 2018

Feb 2018

600.00

Mar 2018 1,800.00

92,855.80

Total 28,175.79 92,855.80 0.00

11,239.41

8,831.25

9,478.98

10,196.61

10,656.08

12,434.91

$

11,239.41 $

8,831.25 $

$

36,239.41 $

8,831.25 $

$

36,239.41 $

8,831.25 $

99,335.12

9,478.98 $

10,196.61 $

10,656.08 $

12,434.91 $

99,335.12

9,478.98 $

103,652.41 $

10,656.08 $

14,234.91 $

220,366.71

9,478.98 $

103,652.41 $

10,656.08 $

14,234.91 $

220,366.71 0.00

1,722.50

600.00

647.50

671.25

600.00

600.00

1,722.50 $

600.00 $

647.50 $

671.25 $

600.00 $

600.00 $

6,807.75 5,924.00

$

12,731.75 0.00

765.16

2,372.82

1,500.00

724.35

1,000.00

1,000.00

8,975.04

1,143.57

329.73

2,498.26

236.76

2,981.03

3,414.10

17,895.10 4,320.17

13,902.68

13,902.68

13,902.68

13,902.68

13,902.68

13,902.68

120,978.41

4,879.20

4,879.20

4,879.20

4,879.20

4,879.20

4,879.20

29,275.20

479.85

447.23

447.23

430.32

433.49

429.97

3,788.96

1,799.99

147.17

510.00

307.77

234.43

248.11

195.30

233.71

249.77

2,346.20

350.15

350.15

350.15

350.15

350.15

350.15

3,151.50

691.93

727.43

722.94

691.93

691.93

704.67

5,575.09

3,029.26

1,011.68

1,853.97

3,532.08

2,238.74

2,294.23

26,807.94

287.00

250.00

215.00

250.00

285.00

215.00

2,421.00

0.00

$ $

170.00

7,158.41

6,945.95 $

3,168.09 $

4,347.40 $

5,449.78 $

4,403.02 $

4,243.79 $

20.00

20.00

20.00

20.00

20.00

20.00

27,656.56 $

24,672.52 $

27,147.54 $

25,212.77 $

27,185.93 $

27,459.77 $

51,249.10 180.00 232,873.02 0.00

3.00

3.00

3.00 710.90

20.55

$

12.00 710.90

27.95

98.00

252.12

472.43

349.22

320.90

262.11

849.75

3,027.33

1,832.32

619.78

818.43

1,505.75

476.43

1,743.15

10,489.71

198.00

198.00

198.00

198.00

198.00

198.00

1,782.00

2,282.44 $

1,313.76 $

1,368.65 $

2,735.55 $

936.54 $

2,821.85 $

16,119.94 0.00

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $

10,406.04

10,406.04

10,406.04 $

10,406.04

297.67

12,421.90

0.00 1,218.07

1,183.22

508.03

4,306.01

1,948.11

4,500.00 $

1,218.07 $

1,183.22 $

508.03 $

4,306.01 $

1,948.11 $

297.67 $

16,921.90 0.00

$

0.00 $

14.93

89.94

947.42

523.18

14.93 $

89.94 $

947.42 $

523.18 $

1,875.47 0.00 $

1,875.47 0.00

$

405.95

378.63

405.95 $

378.63 $

0.00 $

0.00 $

0.00 $

10.05

526.45

120.41

1,719.33

130.46 $

2,245.78 0.00

221.00

310.76

394.86

240.16

284.36

394.86

2,985.05 0.00

277.94

336.60

319.77

560.50

411.86

320.19

3,037.64

3,630.00

4,400.00

4,180.00

4,290.00

4,400.00

4,180.00

35,970.00

$

3,907.94 $

4,736.60 $

4,499.77 $

4,850.50 $

4,811.86 $

4,500.19 $

39,007.64

$

4,128.94 $

5,047.36 $

4,894.63 $

5,090.66 $

5,096.22 $

4,895.05 $

41,992.69

$

37,414.46 $

-$

$

33,210.42 $

34,656.29 $

38,963.66 $

36,289.98 $

46,610.84 $

335,166.59

1,175.05 -$

24,379.17 -$

25,177.31 $

64,688.75 -$

25,633.90 -$

32,375.93 -$

114,799.88

0.02

0.03

0.03

0.02

0.03

0.03

0.24

0.02 $

0.03 $

0.03 $

0.02 $

0.03 $

0.03 $

0.24 0.00

1,951.35 $

0.00 $

0.00 $

0.00 $

1,951.35 $

3,030.99 0.00 $

0.00 $

3,030.99 30,557.65

$

0.00 $

0.00 $

0.00 $

1,951.35 $

0.00 $

0.00 $

33,588.64

$

0.02 $

0.03 $

0.03 -$

1,951.33 $

0.03 $

0.03 -$

33,588.40

32,375.90 -$

148,388.28

-$

1,175.03 -$

24,379.14 -$

25,177.28 $

62,737.42 -$

25,633.87 -$

Mar 18 comments

City OF Livermore

Engine Room ($600)

Estimated expense for Allied Janitorial Primarily DB Pacific Construction ($1.8k), Saroyan ($550) and various others

Complete Business ($674), Mfp ($175) Primarily Amazon

Robot Garden

i-GATE Development Corporation Balance Sheet As of March 31, 2018 Jul 2017

Aug 2017

Sep 2017

Oct 2017

ASSETS Current Assets Bank Accounts 10200 i-GATE Dev Corp Checking 10300 i-GATE Dev Corp Savings Total Bank Accounts

$

242,150.01

185,225.10

165,423.74

134,675.06

1,070.36

1,070.39

1,070.42

1,070.44

243,220.37 $

186,295.49 $

166,494.16 $

135,745.50

Accounts Receivable 11000 Accounts Receivable Trade Total Accounts Receivable

$

0.00

0.00

0.00

0.00

0.00 $

0.00 $

0.00 $

0.00

Other Current Assets 19000 Payable\\Receivable - Nest Total Other Current Assets Total Current Assets

7,046.20

7,046.20

7,046.20

7,046.20

$

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20

$

250,266.57 $

193,341.69 $

173,540.36 $

142,791.70

Fixed Assets 15000 Property and Equipment

0.00

0.00

0.00

15100 Furniture and Equipment

25,311.72

25,311.72

29,233.04

34,233.04

15300 Leasehold Improvement

81,096.25

289,687.26

250,503.61

268,057.68

106,407.97 $

314,998.98 $

279,736.65 $

302,290.72

-23,504.00

-23,504.00

-14,878.00

-14,878.00

291,494.98 $

264,858.65 $

287,412.72

Total 15000 Property and Equipment

$

16000 Accumulated Depreciation Total Fixed Assets

$

82,903.97 $

Other Assets 18600 Prepaids & Other Assets

23,213.92

25,991.92

3,654.97

26,670.92

18700 Security Deposits Asset

20,635.91

20,635.91

20,635.91

20,635.91

Total Other Assets TOTAL ASSETS

$

43,849.83 $

46,627.83 $

24,290.88 $

47,306.83

$

377,020.37 $

531,464.50 $

462,689.89 $

477,511.25

LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 21000 Payables Total Accounts Payable

$

49,418.10

213,194.10

2,754.15

22,827.13

49,418.10 $

213,194.10 $

2,754.15 $

22,827.13

Other Current Liabilities 22000 Accrued Liability 22001 Accrued Payroll 22002 Accrued Expenses

0.00

0.00

0.00

1,161.95

1,658.00

1,776.00

2,131.48

0.00

0.00

0.00

0.00

Total 22000 Accrued Liability

$

1,161.95 $

1,658.00 $

1,776.00 $

2,131.48

Total Other Current Liabilities

$

1,161.95 $

1,658.00 $

1,776.00 $

2,131.48

$

50,580.05 $

214,852.10 $

4,530.15 $

24,958.61

Total Current Liabilities Long-Term Liabilities 27200 Balance of Credit Line 27210 Deferred Rent Total Long-Term Liabilities Total Liabilities

248,385.99

248,385.99

248,385.99

248,385.99

36,096.82

54,145.23

248,707.99

244,275.92

$

284,482.81 $

302,531.22 $

497,093.98 $

492,661.91

$

335,062.86 $

517,383.32 $

501,624.13 $

517,620.52

Equity 30000 Opening Balance Equity

100.00

32000 Unrestricted Net Assets Net Income Total Equity TOTAL LIABILITIES AND EQUITY

100.00

100.00

100.00

63,350.24

63,350.24

63,350.24

63,350.24

-21,492.73

-49,369.06

-102,384.48

-103,559.51

$

41,957.51 $

$

377,020.37 $

14,081.18 -$ 531,464.50 $

38,934.24 -$ 462,689.89 $

40,109.27 477,511.25

nt Corporation Sheet

1, 2018 Nov 2017

$

$

Dec 2017

Jan 2018

Feb 2018

Mar 2018

90,202.50

57,914.47

108,525.63

82,892.03

34,794.02

1,070.47

1,070.50

1,070.52

1,070.55

1,070.58

91,272.97 $

58,984.97 $

109,596.15 $

83,962.58 $

35,864.60

0.00

0.00

0.00

0.00

10,406.05

0.00 $

0.00 $

0.00 $

0.00 $

10,406.05

7,046.20

7,046.20

7,046.20

7,046.20

7,046.20

$

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20

$

98,319.17 $

66,031.17 $

116,642.35 $

91,008.78 $

53,316.85

0.00

$ $

0.00

0.00

0.00

0.00

34,233.04

34,233.04

34,233.04

34,233.04

34,233.04

268,057.68

268,057.68

274,936.67

274,936.67

274,936.67

302,290.72 $

302,290.72 $

309,169.71 $

309,169.71 $

309,169.71

-14,878.00

-14,878.00

-14,878.00

-14,878.00

-14,878.00

287,412.72 $

287,412.72 $

294,291.71 $

294,291.71 $

294,291.71

25,872.92

25,674.92

26,076.92

25,878.92

25,680.92

20,635.91

20,635.91

20,635.91

20,635.91

20,635.91

$

46,508.83 $

46,310.83 $

46,712.83 $

46,514.83 $

46,316.83

$

432,240.72 $

399,754.72 $

457,646.89 $

431,815.32 $

393,925.39

7,670.38

3,056.90

2,730.40

3,900.40

3,230.40

7,670.38 $

3,056.90 $

2,730.40 $

3,900.40 $

3,230.40

0.00

0.00

0.00

0.00

0.00

828.91

1,065.74

1,479.06

1,894.22

2,131.47

0.00

1,500.00

1,000.00

3,649.21

3,000.00

$

Receivable from Robot Garden - received in April 1

$

828.91 $

2,565.74 $

2,479.06 $

5,543.43 $

5,131.47

$

828.91 $

2,565.74 $

2,479.06 $

5,543.43 $

5,131.47

$

8,499.29 $

5,622.64 $

5,209.46 $

9,443.83 $

8,361.87

248,385.99

248,385.99

248,385.99

248,385.99

248,385.99

239,843.85

235,411.78

230,979.71

226,547.64

222,115.57

$

488,229.84 $

483,797.77 $

479,365.70 $

474,933.63 $

470,501.56

$

496,729.13 $

489,420.41 $

484,575.16 $

484,377.46 $

478,863.43

Cloudstructure Inc - Marilyn to confirm if this is pa

Allied Janitorial Accrual for Jan18-Mar18 $1k per m

100.00

-$ $

100.00

100.00

100.00

100.00

63,350.24

63,350.24

63,350.24

63,350.24

63,350.24

-127,938.65

-153,115.93

-90,378.51

-116,012.38

-148,388.28

64,488.41 -$ 432,240.72 $

89,665.69 -$ 399,754.72 $

26,928.27 -$ 457,646.89 $

52,562.14 -$ 431,815.32 $

84,938.04 393,925.39