Page 1 of 6

GLOBALROCK CONSTRUCTION & DEV'T. CORP.

INTERIM FINANCIAL STATEMENTS

as of June 30, 2017
 Page 2 of 6
GLOBALROCK CONSTRUCTION & DEV'T. CORP.

STATEMENT OF FINANCIAL POSITION

as of June 30, 2017
(in Philippine Currency)

Notes 2017

ASSETS

CURRENT ASSETS
Cash And Cash Equivalents 4 739,269.29
Trade And Other Receivables 5 3,265,258.29
Inventory 6 135,628.51
Other Current Assets 7 1,095,383.42
Total Current Assets 5,235,539.51

NON-CURRENT ASSETS
Plant, Property and Equipment 8 16,854,892.95
Intangible Assets 9 -
Other Non-Current Assets 10 -
Total Non-Current Assets 16,854,892.95

TOTAL ASSETS 22,090,432.46

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Trade and Other Payables 11 6,188,810.13
Total Current Liabilities 6,188,810.13

NON-CURRENT LIABILITIES 12
Loans Payable -
Deferred Tax Liabilities 1,268,493.38
Other Non-Current Liabilities -
Total Non-Current Liabilities 1,268,493.38

TOTAL LIABILITIES 7,457,303.51

EQUITY

Partners' Capital 13 11,000,000.00

Accumulated Earnings (Page 3) 3,633,128.95
TOTAL EQUITY 14,633,128.95

TOTAL LIABILITIES AND EQUITY 22,090,432.46

(See Notes to Financial Statements)
 Page 3 of 6
GLOBALROCK CONSTRUCTION & DEV'T. CORP.

STATEMENT OF FINANCIAL PERFORMANCE

January to June 2017
(in Philippine Currency)

Notes 2017

REVENUES
Sales 14 15,625,000.00

DISTRIBUTION COST
Cost of Sales/Service 15 8,263,002.19

GROSS PROFIT 7,361,997.81

EXPENSES
Operating Expenses 16 2,171,813.59

NET INCOME (LOSS) BEFORE INCOME TAX 5,190,184.22

Provision for Income Tax 1,557,055.26
Provision for MCIT/NOLCO -
NET INCOME (LOSS) AFTER INCOME TAX 3,633,128.95
(See Notes to Financial Statements)
 Page 4 of 6
GLOBALROCK CONSTRUCTION & DEV'T. CORP.
Notes to Financial Statements
as of June 30, 2017

Note 4 - Cash and Cash Equivalents

2017
Cash on Hand 100,000.00
Cash in Bank 639,269.29
Total 739,269.29

Note 5 - Trade and Other Receivables

2017
Trade Receivables 3,265,258.29
Allowance for Doubtful Accounts -
Other Receivables -
Total 3,265,258.29

Note 6 - Inventories
2017
Construction Materials 135,628.51
Total 135,628.51

Note 7 - Other Current Assets

2017
Income Tax Credit 156,250.00
Input VAT 939,133.42
Other Current Assets -
Total 1,095,383.42

Note 8 - Plant, Property and Equipment

2017
Machineries and Other Manufacturing Equipment 14,439,528.17
Vehicles and Other Transportation Equipment 3,635,002.49
Computer and Office Equipment 312,625.29
Other Fixed Assets -
Subtotal 18,387,155.95
Accumulated Depreciation 1,532,263.00
Plant, Property and Equipment 16,854,892.95

Note 9 - Intangible Assets

2017
Goodwill -
Computer Software -
Other Intangible Assets -
Intangible Assets -
 Page 5 of 6
GLOBALROCK CONSTRUCTION & DEV'T. CORP.
Notes to Financial Statements
as of June 30, 2017

Note 10 - Other Non-Current Assets

2017
Bonds and Long Term Deposits -
Deferred Tax Asset -
Other Non-Current Assets -
Other Non-Current Assets -

Note 11 - Trade and Other Payables

2017
Trade and Other Payables 2,705,369.58
Corporate Income Tax Payable 1,557,055.26
Withholding Taxes Payable 12,635.29
Output VAT 1,875,000.00
SSS, Philhealth and Pag-IBIG Premiums 38,750.00
Other Payables -
Trade and Other Payables 6,188,810.13

Note 12 - Non-Current Liabilities

2017
Advances from Affiliates 1,268,493.38
Other Non-Current Liabilities -
Non-Current Liabilities 1,268,493.38

Note 13 - Partners' Capital

2017
Capital Stock 1,000,000.00
Additional Paid-in Capital 10,000,000.00
Total Paid-up Capital 11,000,000.00

Note 14 - Revenue
2017
Revenue from Service 15,625,000.00
Revenue 15,625,000.00

Note 15 - Cost of Sales/Service

2017
Cost of Sales/Service - Direct 8,263,002.19
Total Cost of Goods Sold 8,263,002.19

* Premium Capital Invested recorded is part of the total Plant, Property and Equipment. Portion of the PPE was invested
by one of the incorporators. The value of the total equipment was indefinite during the time when the business was
established. Hence, it was not included in the starting capital of the company when it was initially registered at SEC. The
account was made to separate the portion of the partners' investments that are not yet reflected in SEC reports.
 Page 6 of 6
GLOBALROCK CONSTRUCTION & DEV'T. CORP.
Notes to Financial Statements
as of June 30, 2017

Note 16 - Operating Expenses

2017
Communication, Light and Water Expense 28,175.00
Depreciation Expense 1,532,263.00
Fuel And Oil Expense 15,025.89
Management And Consultancy Fees 253,629.12
Miscellaneous Expense 18,659.29
Office Supplies Expense 4,659.22
Professional Fees 38,888.89
Repairs And Maintenance Expense 15,638.20
Representation And Entertainment Expense 132,258.17
Taxes And Licenses Expense 119,638.66
Toll And Parking Expense 1,025.29
Transportation And Travel Expense 11,952.87
Total Operating Expenses 2,171,813.59