EX-99.5 4 form8ka-proforma.txt EXHIBIT 99.5 ------------ Silk Botanicals.Com, Inc. Unaudited Pro Forma Condensed Combined Financial Data The following unaudited, pro forma, condensed, combined balance sheet has been prepared to present the combined financial position of Silk Botanicals.Com, Inc. and its subsidiary as of November 30, 2001. On January 6, 2002 BTSL Technologies Limited (BTSL) completed a contract with a US public company called Silk Botanical.com Inc. (SILK) for the sale of certain "assets, related liabilities and business opportunities" in return for 20,000,000 shares from the public company. The transaction gave the shareholders of BTSL a majority of the issued and outstanding common stock of "SILK". As a result of the Contract with SILK the assets, liabilities and business opportunities owned by BTSL were assigned to a newly formed Irish company, TecEnergy Limited. TecEnergy Limited is 100% owned and will operate as a subsidiary of the US Public Company. TecEnergy will be the holding company for any Irish acquisitions related to the manufacture and sales of such gasification and oxygen generation equipment products. Only the recurring normal operating expenses were included in the pro forma financials. Under generally accepted accounting principles, the assets transferred to SILK are the patents and the investments that were advanced to SILK which are part of the acquisition transaction. The research and development costs resulting in the oxygen generation equipment prototype is now being presented to foreign governments for orders. The total orders pending approval by foreign governments approximates US $ 7,500,000. The assets transferred to the public company include accrued operating expenses related to the patents and development costs. These assets will be part of the 10-QSB financials of the public company for the quarter ending February 28, 2002. The purpose of the pro forma adjustments presented is to reflect the change in capitalization of BTSL to the capitalization of SILK with appropriate changes to earnings per share of the Company to reflect the acquisition of BTSL. The following unaudited pro forma condensed financial statements should be read in conjunction with the selected financial data and notes included elsewhere herein. The Pro forma Statement of Income is for the fiscal year ended, May 31, 2001 and the six months ended November 30, 2001. The following unaudited pro forma condensed financial statements are not necessarily indicative of the results of combined operations that would have occurred or the future results of the combined companies. All material non-recurring changes are fully disclosed in the pro forma financial statements. Exhibit 99.5 - Pg. 1 Silk Botanicals.com, Inc. Condensed Pro forma Balance Sheet November 30, 2001

(1) Combined elimination entries. (2) Investment in SILK for $115,000 was a capital contribution on SILK's books and should be treated as Paid in Capital. Exhibit 99.5 - Pg. 2 Silk Botanicals.com, Inc. Condensed Pro forma Statement of Income For the fiscal year ending May 31, 2001 and six months ended November 30, 2001

(1) The fiscal year ended, May 31, 2001 includes only the Company, Silk Botanicals.com, Inc. (2) BTSL Technologies Limited was incorporated in September 2001 and its fiscal year ends December 31. The above period is for the four months ended December 31, 2001. The estimated recurring general and administrative expenses approximated $272,000 of which $ 5,000 was amortization charges for patents and capitalized prototype expenditures. Approximately $ 985,295 for non recurring operating expenses over a six (6) years period of developing the Company's technology were for the following: Research and development costs $ 646,995 Travel and entertainment cost 222,600 Telephone expenses 50,000 Office expenses 41,700 Rent 24,000 ----------- Total $ 985,295 =========== The recurring general and administrative expenses is based on the overhead needed to market and sell the gasification and oxygen generation process to industry or governmental bodies. (3) The above recurring expenses for the four months ended, November 30, 2001 were evaluated in light of the facts and circumstances for the sufficient continuity of the acquired entities operation prior to and after the transaction. Exhibit 99.5 - Pg.3

SILK BOTANICALS COM INC 8-K/A