EX-99.1 2 ea022751601ex99-1_fusion.htm PRO FORMA BALANCE SHEET

Exhibit 99.1

 

Fusion Fuel - Consolidated Balance Sheet as of 26-November-2024  Consolidated pro forma -
January 2025		 
   QIND   HTOO   Pro-forma
adjustment		   Consolidated
Pro-Forma		   Equity
Raise		   Equity
balance		 
All figures are in $ USD unless otherwise stated  30-Sep-24   31-Oct-24   26-Nov-24   26-Nov-24   Jan 2025*   31-Jan-25 
ASSETS                        
Current Assets                        
Cash and Cash Equivalents   221,627    52,650         274,277    925,000    1,199,277 
Inventory   1,112,230    -         1,112,230         1,112,230 
Accounts Receivable   2,347,060    -         2,347,060         2,347,060 
Other Receivables**                  -    250,000    250,000 
Deposits   665,898    -         665,898         665,898 
Other Current Assets   2,000,000    199,521         2,199,521         2,199,521 
Total Current Assets   6,346,815    252,172         6,598,987    1,175,000    7,773,987 
                               
Non-Current Assets                              
Property, Plant and Equipment   291,240    139,367         430,607         430,607 
Related Party Receivables   1,943,472    -         1,943,472         1,943,472 
Goodwill & other Intangible assets   8,479,222    8,867    11,436,828    19,924,917         19,924,917 
Total Non-current Assets   10,713,934    148,233    11,436,828    22,298,996    -    22,298,996 
Total Assets   17,060,749    400,405    11,436,828    28,897,983    1,175,000    30,072,983 
                               
LIABILITIES AND STOCKHOLDERS’ DEFICIT                              
Current Liabilities                              
Accounts Payable   1,124,987    766,102         1,891,089         1,891,089 
Lease Operating Liabilities   69,490    -         69,490         69,490 
Other Payables - current   5,753,149    58,680         5,811,829         5,811,829 
Convertible Notes, net of discount   2,625,922    -         2,625,922    950,000    3,575,922 
Other Current Liabilities   549,586    1,153,629         1,703,215         1,703,215 
Total Current Liabilities   10,123,134    1,978,411         12,101,545    950,000    13,051,545 
                               
Non-Current Liabilities                              
Lease Operating Non-Current Portion   163,731    62,858         226,589         226,589 
Other Payables – long-term   4,820,706    -         4,820,706         4,820,706 
Total Long-term Liabilities   4,984,437    62,858    -    5,047,295    -    5,047,295 
Total Liabilities   15,107,571    2,041,269         17,148,840    950,000    18,098,840 
                               
Stockholders’ Equity                              
Preferred stock   20    -    4,151    4,171         4,171 
Common stock   119,662    2,506    (115,843)   6,325    38    6,362 
Additional paid-in capital   17,889,959    254,547,229    (2,508,051)   269,929,137    249,962    270,179,099 
Retained Earnings/ accumulated Deficit   (16,787,119)   (256,190,598)   16,787,119    (256,190,598)   (25,000)   (256,215,598)
Noncontrolling interest   730,656    -    (2,730,548)   (1,999,892)        (1,999,892)
Total stockholders’ Equity   1,953,178    (1,640,863)   11,436,828    11,749,143    225,000    11,974,143 
Total liabilities and stockholders’ Equity   17,060,749    400,405    11,436,828    28,897,983    1,175,000    30,072,983 

 

  Notes:
* Represents net cash inflows and shares issued in relation to the capital raise closed during January 2025.
** Represents dollar value of commitment shares issued in relation to January capital raise.