SPOP TECH : Pro forma Statement of Liabilities and Shareholders’ Equity as of December 31, 2023 (unaudited) - Form 8-K

Pro forma Statement of Liabilities and Shareholders' Equity

as of December 31, 2023 (unaudited)

Liabilities and shareholders' equity		As of December 31, 2023*			Pro Forma Adjustment # 1			Pro Forma Adjustment # 2			Pro Forma Adjustment # 3			Pro Forma Adjustment #4			Pro Forma As of December 31, 2023
Current liabilities
Trade accounts payable			2,630																				2,630
Income taxes payable			991																				991
Accrued expense			3,543																				3,543
Contract liabilities			1,944																				1,944
Line of credit			622																				622
Convertible note, current			-																				-
Related party promissory notes			575																				575
Legacy SMAP promissory note			200												(200	)							-
Right-of-use liabilities, current			138																				138
Other noncurrent liabilities			114																				114
Total current liabilities			10,643				-				-				(200	)			-				10,443
Shareholder promissory note			-																				-
Contract liabilities, noncurrent			121																				121
Convertible note, noncurrent			5,695				(4,475	)															1,220
Warrants			49																				49
Deferred tax liabilities, net			18																				18
Total liabilities			16,526				(4,475	)			-				(200	)			-				11,851
Commitments and contingencies (Note 15)																							-
Shareholders' equity (deficit)																							-
Common stock, $0.0001 par value; 300,000,000 and 7,708,163 shares authorized as of December 31, 2023 and 2022, respectively, and 11,956,823 and 5,292,384 shares issued and outstanding as of December 31, 2023 and 2022, respectively			1																				1
Additional paid-in capital			32,862				4,475				785				200				136				38,458
Retained earnings (accumulated deficit)			(33,131	)			-				(785	)			-				(136	)			(34,052	)
Total shareholders' equity (deficit)			(268	)			4,475				-				200				-				4,407
Total liabilities and shareholders' equity			16,258				-				-				-				-				16,258

*As reported in the Company's Consolidated Balance Sheet as of December 31, 2023, as set forth in the Company's Annual Report on Form 10-K filed with the SEC on March 29, 2024.

Adjustment # 1	Reflects the conversion of $4.475 million of Notes and Related Party Notes into Company Common Stock.
Adjustment # 2	Reflects the issuance of 347,500 Inducement shares Issued to the Note holders pursuant to the Inducement Agreements, based on the last reported closing price of the Common Stock of $2.26 as of March 28, 2024.
Adjustment # 3	Reflects the conversion of the $200,000 Loan into Company Common Stock at a conversion price per share of $3.33.
Adjustment # 4	Reflects the 60,060 shares of Common Stock issued as a result of the conversion of the Loan, based on the last reported closing price of the Common Stock of $2.26 as of March 28, 2024.