Igate dev corp financial statements fy 2016 2017 full year

iGATE Development Corporation Financial Statements

For the Month and Year-to-Date Period Ended June 30, 2017 (unaudited)

iGATE Development Corporation Statements of Financial Position (unaudited)

June 30, 2017

June 30, 2016

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

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

$

25,312 39,184 64,495 (23,504) 40,991 $

334,936

$

3,494 1,557

68,100 4,585 672 73,357

25,312 39,184 64,496 (14,083) 50,413 $ 123,770

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

$

$

1,460 -

5,051

1,460

18,048 248,386

248,386

63,451

(126,076)

63,451

(126,076)

334,936

$ 123,770

iGATE Development Corporation Statements of Activities

For the Month and Year-to-Date Period Ended June 30, 2017 (unaudited)

Month Revenue Government Grant Corporate Sponsorship Membership Dues Gross Margin

$

189,489 11,397 200,886

Year-to-Date

$

282,092 3,265 120,911 406,268

Expenses Consulting & Outside Services Facilities & Other Expenses General & Administrative Membership and Dues Program Events Advertising & Marketing Travel & Meetings Personnel Total expenses Income (Loss) before interest and taxes Taxes and interest

4,105 28,864 11,240 450 90 4,061 48,810

19,576 90,615 29,046 6,628 12,484 1,187 2,105 49,977 211,618

152,076

194,650

4,224

5,123

Decrease in Net Assets

$

147,852

$

189,527

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

$ $

(84,401) 63,451

$ $

(126,076) 63,451

iGATE Development Corporation Statement of Functional Expenses

For the Month and Year-to-Date Period Ended June 30, 2017 (unaudited)

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

$

Year-to-Date

4,105 4,105

$

19,576 19,576

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

788 148 18,048 4,879 57 975 215 350 692 2,328 364 20 28,864

12,870 5,114 263 18,048 4,879 806 2,845 2,704 4,456 8,303 26,788 3,299 240 90,615

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

9,420 570 1,052 198 11,240

176 9,420 4,603 46 2,419 8,937 3,446 29,046

-

6,628 6,628

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

450 450

11,734 750 12,484

90 90

1,187 1,187

Advertising and Marketing Marketing Total Advertising & marketing Travel & Meetings Travel & Meals Total Travel and Meals Personnel Payroll Fee & Other Expense Salaries & Wages & Employer Tax Total Salaries & Related Expenses Total expenses

$

-

2,105 2,105

249 3,812 4,061

3,291 46,686 49,977

48,810

$

211,618

iGATE Development Corporation Statements of Cash Flows

For the Month and Year- To- Date Period Ended June 30, 2017 (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

$

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

147,852

$

2,034 9,420 1,558 18,048

(38,773)

(2,461) (38,497)

138,865

179,629

-

(0) (0)

$

189,527

2,057 9,420 259 18,048

-

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

Year-to-Date

138,865 108,865 247,729

-

$

179,629 68,100 247,729

i-GATE Development Corp Profit and Loss July 2016 - June 2017 Jul 2016

Aug 2016

Sep 2016

Oct 2016

Nov 2016

Income 43320 Corporate Sponsorship

1,969.00

43390 Government Sponsorship

67,603.25

25,000.00

648.00

648.00

47200 Program Revenue 47230 Membership Dues

6,838.31

12,638.38

9,547.24

9,819.28

7,072.19

$

6,838.31 $

12,638.38 $

9,547.24 $

9,819.28 $

7,072.19

Total Income

$

74,441.56 $

39,607.38 $

10,195.24 $

9,819.28 $

7,720.19

Gross Profit

$

74,441.56 $

39,607.38 $

10,195.24 $

9,819.28 $

7,720.19

Total 47200 Program Revenue

Expenses 62100 Consulting & Outside Services 62110 Accounting Fees

1,059.92

4,748.75

900.84

790.00

2,958.75

1,059.92 $

4,748.75 $

900.84 $

790.00 $

2,958.75

1,285.36

1,271.35

1,282.34

740.13

288.29

367.50

62150 Outside Contract Services Total 62100 Consulting & Outside Services

$

62805 Facilities & Other Expenses 62801 Janitorial 62802 Repairs & Maintenance 62842 Expensed Furniture

1,275.34

1,271.35 112.26

262.70

62890 Rent 62892 Building Opex 62893 Utilities 62894 Telecomunication

81.17

82.93

83.56

42.02

62895 IT Services

160.98

425.41

216.00

184.99

62897 Water

183.65

263.10

206.10

258.59

224.65

62898 Sanitation

603.04

350.30

350.30

350.30

350.30

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

691.93

691.93

691.93

691.93

691.93

2,362.47

2,670.10

2,271.97

1,843.47

1,685.16

145.00

145.00 4,628.77 $

145.00 3,964.86 $

164.98

$

4,228.24 $ 20.00

20.00

20.00

20.00

$

6,273.73 $

6,471.11 $

5,634.70 $

4,831.62 $

20.18

41.25

35.86

18.21

1,325.03

1,402.83

197.29

62896 Security Total 62805 Facilities & Other Expenses

128.16

3,536.28 $

304.96 3,385.16 20.00 4,788.77

65000 Office/General Administrative Expenses 60930 Bank & Other Fees

12.00

62810 Depr and Amort - Allowable 62841 Expensed Equipment 65020 Postage, Mailing Service

45.90

65030 Printing and Copying

412.90

65040 Office Supplies 65120 Insurance - Liability, D and O Total 65000 Office/General Administrative Expenses

507.52 317.82

566.37

563.09

89.74

961.54

1,129.64

74.67

272.67

272.67

272.67

272.67

$

1,986.25 $

2,738.64 $

$

0.00 $

0.00 $

595.56 $

1,570.24 $

1,921.83

0.00 $

0.00

65100 Other Types of Expenses 65150 Memberships and Dues Total 65100 Other Types of Expenses

39.96 39.96 $

65500 Program Events 65521 Catering

894.69

1,135.57

583.60

854.23

724.14

894.69 $

1,135.57 $

583.60 $

854.23 $

724.14

65522 Program Sponsorship Total 65500 Program Events

$

65520 Advertising & Marketing 65501 Marketing Total 65520 Advertising & Marketing

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

0.00 $

0.00 $

0.00

68300 Travel and Meetings 68320 Travel

15.35

68340 Meals Total 68300 Travel and Meetings

26.60 $

15.35 $

26.60 $

70000 Personnel 70010 Payroll Fees & Other Expenses

243.80

245.50

354.15

249.20

267.85

286.87

284.61

277.69

267.19

277.70

3,750.00

3,720.00

3,630.00

3,492.50

3,630.00

4,036.87 $

4,004.61 $

3,907.69 $

3,759.69 $

3,907.70

70020 Salaries & Related Expenses 70021 Employer Taxes 70022 Salaries & Wages Total 70020 Salaries & Related Expenses Total 70000 Personnel

$ $

4,280.67 $

4,250.11 $

4,261.84 $

4,008.89 $

4,175.55

Total Expenses

$

14,510.61 $

19,370.78 $

12,016.50 $

12,054.98 $

14,569.04

Net Operating Income

$

59,930.95 $

20,236.60 -$

1,821.26 -$

2,235.70 -$

6,848.85

0.03

0.03

0.03

0.02

0.03

0.03 $

0.03 $

0.03 $

0.02 $

0.03

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

$

Other Expenses 65300 Tax & Fees 65330 State Taxes

50.00

65331 County Taxes Total 65300 Tax & Fees Total Other Expenses

819.25 $

819.25 $

50.00 $

0.00 $

0.00 $

0.00

$

819.25 $

50.00 $

0.00 $

0.00 $

0.00

Net Other Income

-$

Net Income

$

819.22 -$ 59,111.73 $

49.97 $

0.03 $

0.02 $

0.03

20,186.63 -$

1,821.23 -$

2,235.68 -$

6,848.82

Thursday, Apr 05, 2018 02:21:55 PM GMT-7 - A

opment Corporation t and Loss

16 - June 2017 Dec 2016

Jan 2017

Feb 2017

Mar 2017

Apr 2017

May 2017

Jun 2017

Total 3,265.00

189,488.85

282,092.10 0.00

9,642.89

9,794.53

9,709.91

9,913.75

13,231.27

11,306.05

11,397.42

120,911.22

$

9,642.89 $

9,794.53 $

9,709.91 $

9,913.75 $

13,231.27 $

11,306.05 $

11,397.42 $

120,911.22

$

9,642.89 $

9,794.53 $

9,709.91 $

9,913.75 $

13,231.27 $

11,306.05 $

200,886.27 $

406,268.32

$

9,642.89 $

9,794.53 $

9,709.91 $

9,913.75 $

13,231.27 $

11,306.05 $

200,886.27 $

406,268.32 0.00

647.50

839.75

600.00

1,225.00

600.00

600.00

500.00 $

647.50 $

839.75 $

600.00 $

1,225.00 $

1,100.00 $

600.00 $

735.00

15,705.51

3,370.00

3,870.00

4,105.00 $

19,575.51 0.00

1,574.35

824.35

824.35

824.35

824.35

810.00

1,492.14

582.48

-149.00

721.74

824.35

788.36

12,870.20

148.00

5,113.54

18,048.41

18,048.41

4,879.20

4,879.20

262.70

0.00 9.00

9.00

142.84

467.50

62.96

9.00

98.92

56.64

806.20

80.00

80.00

255.00

975.17

2,845.05

219.38

190.64

182.84

300.09

198.56

261.87

214.53

2,704.00

350.30

350.30

350.30

350.30

350.30

350.30

350.30

4,456.34

691.93

691.93

691.93

691.93

691.93

691.93

691.93

8,303.16

1,789.08

2,867.27

2,722.19

2,177.62

1,985.69

2,084.86

2,327.65

26,787.53

284.98

364.00 4,940.64 $

265.00 4,355.10 $

412.00 4,074.90 $

364.00 3,679.48 $

340.00 4,082.88 $

364.00

$

3,344.67 $

4,980.22 $

20.00

20.00

20.00

20.00

20.00

20.00

20.00

$

5,749.02 $

7,277.13 $

5,781.93 $

4,770.25 $

5,245.57 $

4,927.23 $

28,864.19 $

12.00

12.00

12.00

12.00

3,298.92 49,201.20 240.00 90,615.25 0.00 175.50

9,421.00 1,010.54

160.00

9,421.00 4,603.21 45.90

$

259.01

99.98

12.00

196.36

492.02

58.79

569.77

2,418.65

1,780.34

279.38

342.04

1,356.78

217.21

598.47

1,052.19

8,936.79

272.67

272.67

272.67

272.66

794.00

198.00

198.00

3,446.02

664.03 $

638.71 $

11,240.96 $

29,047.07

3,334.56 $

1,997.80 $

1,503.23 $

855.26 $

0.00 $

24.00

54.89

348.56

24.00 $

54.89 $

348.56 $

6,161.00 0.00 $

6,161.00 $

6,628.41 0.00 $

0.00 $

6,628.41 0.00

451.16

872.22

677.85

1,188.24

451.16 $

872.22 $

677.85 $

1,938.24 $

679.22

3,223.54

449.86

11,734.32

679.22 $

3,223.54 $

449.86 $

12,484.32

750.00 $

750.00

0.00 250.00 $

250.00 $

0.00 $

0.00 $

258.86

40.00

548.00

89.94

1,186.80

258.86 $

40.00 $

548.00 $

89.94 $

1,186.80 0.00

15.00 670.35 $

670.35 $

0.00 $

38.03

1,300.41

38.03 $

1,315.41 $

30.35 39.29 0.00 $

39.29 $

2,074.68 0.00 $

2,105.03 0.00

355.15

204.50

249.20

355.15

249.20

267.85

249.20

3,290.75

310.61

361.83

403.02

320.91

252.46

244.86

278.17

3,565.92

3,657.50

3,245.00

3,630.00

3,795.00

3,300.00

3,736.57

3,533.75

43,120.32

3,968.11 $

3,606.83 $

4,033.02 $

4,115.91 $

3,552.46 $

3,981.43 $

3,811.92 $

46,686.24

0.00

$ $

4,323.26 $

3,811.33 $

4,282.22 $

4,471.06 $

3,801.66 $

4,249.28 $

4,061.12 $

49,976.99

$

15,449.85 $

13,519.35 $

12,367.30 $

15,976.62 $

18,530.68 $

14,442.60 $

48,811.07 $

211,619.38

-$

5,806.96 -$

3,724.82 -$

2,657.39 -$

6,062.87 -$

5,299.41 -$

3,136.55 $

152,075.20 $

194,648.94

0.03

0.02

0.03

0.03

0.02

0.03

0.03

0.33

0.03 $

0.02 $

0.03 $

0.03 $

0.02 $

0.03 $

0.03 $

0.33

$

0.00 20.00

10.00

80.00 4,223.89

5,043.14

$

0.00 $

0.00 $

0.00 $

0.00 $

20.00 $

10.00 $

4,223.89 $

5,123.14

$

0.00 $

0.00 $

0.00 $

0.00 $

20.00 $

10.00 $

4,223.89 $

5,123.14

$

0.03 $

0.02 $

0.03 $

0.03 -$

19.98 -$

9.97 -$

4,223.86 -$

5,122.81

-$

5,806.93 -$

3,724.80 -$

2,657.36 -$

6,062.84 -$

5,319.39 -$

3,146.52 $

147,851.34 $

189,526.13

2:21:55 PM GMT-7 - Accrual Basis

Engine Room Banducci($2870) , Nyentek($500)

Deferred rent expense for June 17 - Actual rent payment starts in Sep17 June 17 CAM

Unsecured Property Taxes

i-GATE Development Corporation Balance Sheet As of June 30, 2017 Jul 2016

Aug 2016

Sep 2016

Oct 2016

Nov 2016

Dec 2016

Jan 2017

Feb 2017

Mar 2017

Apr 2017

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

$

128,331.69

144,515.49

142,751.73

141,638.68

136,219.07

130,069.73

128,990.93

121,585.35

115,767.85

1,070.04

1,070.07

1,070.10

1,070.12

1,070.15

1,070.18

1,070.20

1,070.23

1,070.26

129,401.73 $

145,585.56 $

143,821.83 $

142,708.80 $

137,289.22 $

131,139.91 $

130,061.13 $

122,655.58 $

116,838.11 $

116,716.83 1,070.28 117,787.11

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

0.00

0.00

0.00 $

0.00 $

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

4,867.02

5,938.27

6,944.41

7,046.20

7,046.20

7,046.20

7,046.20

7,046.20

7,046.20

$

4,867.02 $

5,938.27 $

6,944.41 $

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20 $

7,046.20 7,046.20

$

134,268.75 $

151,523.83 $

150,766.24 $

149,755.00 $

144,335.42 $

138,186.11 $

137,107.33 $

129,701.78 $

123,884.31 $

124,833.31

Fixed Assets 15000 Property and Equipment 15100 Furniture and Equipment 15300 Leasehold Improvement Total 15000 Property and Equipment

$

16000 Accumulated Depreciation Total Fixed Assets

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

25,311.72

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

39,183.65

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

64,495.37 $

-14,083.00 $

50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

-14,083.00 50,412.37 $

64,495.37 -14,083.00 50,412.37

Other Assets 18600 Prepaids & Other Assets

597.32

18700 Security Deposits Asset Total Other Assets TOTAL ASSETS

3,300.65

3,027.98

2,155.31

1,882.64

1,609.97

1,337.30

1,064.63

791.97

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

593.97 0.00

$

597.32 $

3,300.65 $

3,027.98 $

2,155.31 $

1,882.64 $

1,609.97 $

1,337.30 $

1,064.63 $

791.97 $

593.97

$

185,278.44 $

205,236.85 $

204,206.59 $

202,322.68 $

196,630.43 $

190,208.45 $

188,857.00 $

181,178.78 $

175,088.65 $

175,839.65

3,049.24

2,207.39

1,360.79

2,787.67

5,365.23

4,334.53

6,769.01

558.74

-18.00

3,049.24 $

2,207.39 $

1,360.79 $

2,787.67 $

5,365.23 $

4,334.53 $

6,769.01 $

558.74 -$

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

$

18.00 $

6,876.74 6,876.74

Other Current Liabilities 22000 Accrued Liability 22001 Accrued Payroll

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

807.37

1,421.00

1,776.23

1,983.46

562.47

978.12

916.99

1,282.05

1,831.50

1,831.50

0.00

1,282.34

0.00

0.00

0.00

0.00

807.37 $

1,421.00 $

3,058.57 $

1,983.46 $

562.47 $

978.12 $

916.99 $

2,106.40 $

2,655.85 $

1,831.50

22002 Accrued Expenses

824.35

824.35

0.00

Total 22000 Accrued Liability

$

Total Other Current Liabilities

$

807.37 $

1,421.00 $

3,058.57 $

1,983.46 $

562.47 $

978.12 $

916.99 $

2,106.40 $

2,655.85 $

1,831.50

$

3,856.61 $

3,628.39 $

4,419.36 $

4,771.13 $

5,927.70 $

5,312.65 $

7,686.00 $

2,665.14 $

2,637.85 $

8,708.24

Total Current Liabilities Long-Term Liabilities 27200 Balance of Credit Line

248,385.99

27210 Deferred Rent Total Long-Term Liabilities Total Liabilities

248,385.99

248,385.99

248,385.99

248,385.99

248,385.99

248,385.99

248,385.99

248,385.99

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

248,385.99 0.00

$

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99 $

248,385.99

$

252,242.60 $

252,014.38 $

252,805.35 $

253,157.12 $

254,313.69 $

253,698.64 $

256,071.99 $

251,051.13 $

251,023.84 $

257,094.23

Equity 30000 Opening Balance Equity

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

32000 Unrestricted Net Assets

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

-126,175.89

59,111.73

79,298.36

77,477.13

75,241.45

68,392.63

62,585.70

58,860.90

56,203.54

50,140.70

44,821.31

66,964.16 -$

46,777.53 -$

48,598.76 -$

50,834.44 -$

57,683.26 -$

63,490.19 -$

67,214.99 -$

69,872.35 -$

75,935.19 -$

Net Income Total Equity TOTAL LIABILITIES AND EQUITY

-$ $

185,278.44 $

205,236.85 $

204,206.59 $

202,322.68 $

196,630.43 $

190,208.45 $

Thursday, Apr 05, 2018 02:22:54 PM GMT-7 - Accrual Basis

188,857.00 $

181,178.78 $

175,088.65 $

81,254.58 175,839.65

elopment Corporation alance Sheet of June 30, 2017

2018 02:22:54 PM GMT-7 - Accrual Basis

May 2017

107,794.27 1,070.31 $

$

108,864.58 $

Jun 2017

246,659.05 1,070.34 247,729.39

0.00

0.00

0.00 $

0.00

7,046.20

7,046.20

$

7,046.20 $

7,046.20

$

115,910.78 $

254,775.59

$

0.00

0.00

25,311.72

25,311.72

39,183.65

39,183.65

64,495.37 $ -14,083.00

$

64,495.37 -23,504.00

50,412.37 $

40,991.37

395.97

18,532.72

0.00

20,635.91

$

395.97 $

39,168.63

$

166,719.12 $

334,935.59

$

1,436.74

3,494.00

1,436.74 $

3,494.00

0.00

0.00

473.14

732.60

824.35

824.35

$

1,297.49 $

1,556.95

$

1,297.49 $

1,556.95

$

2,734.23 $

5,050.95

248,385.99 0.00

248,385.99 18,048.41

$

248,385.99 $

266,434.40

$

251,120.22 $

271,485.35

-$ $

100.00

100.00

-126,175.89

-126,175.89

41,674.79

189,526.13

84,401.10 $

63,450.24

166,719.12 $

334,935.59