UNAUDITED PRO FORMA FINANCIAL INFORMATIONAsset Purchase Agreement • July 22nd, 2016 • Applied Dna Sciences Inc • Services-miscellaneous business services
The following unaudited pro forma financial statements give effect to the Asset Purchase Agreement (the “Asset Purchase Agreement”), dated September 11, 2015, by and among Applied DNA Sciences, Inc. (the “Company” or “APDN”), Vandalia Research, Inc., a West Virginia corporation (now known as VR Holdings, Inc., “Vandalia”), and Derek A. Gregg, Vandalia’s Chief Executive Officer and a director of Vandalia, providing for the purchase by the Company of substantially all the assets of Vandalia (the “Asset Acquisition”) under the acquisition method of accounting in accordance with Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 805, Business Combinations (“ASC 805”), with the Company treated as the legal and accounting acquirer. The historical consolidated financial information has been adjusted in the unaudited pro forma financial statements to give effect to pro forma events that are (1) directly attributable to the Asset Acquisition, (2) factually
