CONRADO M.

BRIONES
CERTIFIED PUBLIC ACCOUNTANT
Lot 10C, Block 3, Alfa Street, North FairviewPark Subdivision, Quezon City
Contact Number: 09279614609
Email: conrado_briones@yahoo.com

INDEPENDENT AUDITOR’S REPORT

90° Construir Design and Build

Purok 3, Brgy. Pasong Langka,
Silang, Cavite

Report on the Financial Statements

I have audited the accompanying financial statements of 90° Construir Design and Build, which
compromise the balance sheets as at December 31, 2016 and 2015, and the statements of expenses,
statements of changes in equity and statements of cash flows for the year ended December 31, 2016
and for the period November 12 to December 31, 2015, and a summary of the significant accounting
policies and other explanatory notes.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in
accordance with the Philippine Financial Reporting Standards, and for such internal control as
management determines is necessary to enable the preparation of financial statements that are free
form material misstatement, whether due to fraud or error.

Author’s Responsibility

My responsibility is to express an opinion on these financial statements based on my audit. I

conducted my audit in accordance with Philippine Standards on Auditing. Those standards require
that I comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance whether the financial statements are free form material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the author’s judgement, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments. The auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the enitity’s internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by the management,
as well as evaluating the overall presentation of the financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for
my audit opinion.
 CONRADO M. BRIONES
Certified Public Accountant

Page 2 of 2

Opinion

In my opinion, the financial statements present fairly, in all material respects, the financial position
of 90° Construir Design and Build as of December 31, 2016 and 2015, and of its financial
performance and its cash flows for the year ended December 31, 2016 and for the period November
12 to December 31, 2015 in accordance with the Philippine Financial Reporting Standards.

Report on Bureau of Internal Revenue Requirements

My audit was conducted for the purpose of forming an opinion on the basic financial statements
taken as a whole. The supplementary information on taxes and licenses in Note 7 to the financial
statements is presented for purposes of filing with the Bureau of Internal Revenue and is not a
required part of the basic financial statements. Such information has been subjected to the auditing
procedures applied in my audit of the basic financial statements and, in my opinion, is fairly stated in
all material respects in relation to the basic financial statements taken as a whole.

CONRADO M. BRIONES
CPA Certificate No. 0092374, Valid until November 26, 2019
BOA Accreditation No. 3985, with extended validity until April 30, 2017
Pursuant to board resolution no. 37, series of 2017
BIR Accreditation No. 07-000078-2-2016, Valid until June 7, 2019
Tax Identification No. 194-492-605
PTR No. MLA6110427, February 2, 2017, Manila

February 22, 2017

90° CONSTRUIR DESIGN AND BUILD
BALANCE SHEETS

Notes 2016 2015

ASSETS
Current Assets
Cash Php 2,073,312,950 Php 94,334,500
Inventories 4 779,867,890 -
Total Current Assets Php 2,853,180,840 Php 94,334,500

Noncurrent Assets*
Property and equipment - net 5 54,616,963

TOTAL ASSETS Php 2,907,797,803 Php 94,334,500

LIABILITIES AND EQUITY

Current Liabilites
Accounts Payable Php 9,878,352

Noncurrent Liabilities
Advances from a related party 6 Php 2,803,609,951

Equity
Capital Stock 95,000,000 95,000,000
Deficit (690,500) (665,500)
Net Equity 94,309,500 94,334,500

TOTAL LIABILITES AND Php 2,907,797,803 Php 94,334,500

EQUITY
90° CONSTRUIR DESIGN AND BUILD
STATEMENT OF EXPENSES
For the Year Ended December 31, 2016 and For the Period November 12 to December 31, 2015

2016 2015

Professional fees Php 54,500 -

Taxes and Licneses 500 Php 665,500
Interest Income (30,000) -

NET EXPENSES Php 25,000 Php 665,500

90° CONSTRUIR DESIGN AND BUILD
STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2016 and For the Period November 12 to December 31, 2015

Notes 2016 2015

OPERATING ACTIVITIES
Net Expenses (Pho 25,000) (Php 665,500)
Working Capital Adjustments
Increase in Inventories (779,867,890)
Increase in Accounts Payable 9,878,352
Increase Income (30,000)
Net cash flows used in operating (770,044,538) (665,000)
activities

INVESTING ACTIVITIES
Acquisition of property and equipment 5 (54,616,963)
Interest received 30,000
Net cash flows used in investigating (54,586,963)
activities

FINANCING ACTIVITES
Proceeds from subscription of capital 95,000,000
stock
Advances from a related party 2,803,609,951
Net cash flows from financing activites 2,803,609,951 95,000,000

NET INCREASE IN CASH 1,978,978,450 94,334,500

CASH AT BEGINNING OF YEAR 94,334,500

CASH AT END OF YEAR Php 2,073,312,950 Php 94,334,500