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Everyday: Tea Leaves Health, Llc Audited Financial Statements

The following excerpt is from the company's SEC filing.

For the Years Ended

INDEPENDENT AUDITOR’S REPORT

To the Board of Directors and Members

Tea Leaves Health, LLC:

We have audited the accompanying comparative financial statements of Tea Leaves Health, LLC (a Georgia Limited Liability Company) which comprise the balance sheets as of December 31, 2014 and December 31, 2013 and the related statements of income (loss) and members’ equity (deficit), and cash flows for the years then ended, the related notes to the financial statements, and the supplementary information.

Management’s Respons ibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from 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 auditor’s judgment, 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 entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Tea Leaves Health, LLC as of December 31, 2014 and December 31, 2013, and the results of their operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

/s/ R.D. McClendon CPA, P.C.

Newnan, Georgia

June 24, 2015

Balance Sheets

Years Ended December 31, 2014 and 2013

Assets

Current Assets

182,178

150,844

Accounts Receivable

765,164

1,100,062

Prepaid Expenses

23,363

Total Current Assets

970,705

1,251,582

Property and Equipment

Property and Equipment, Net

225,004

173,997

Total Property and Equipment

Total Assets

1,195,709

1,425,579

See the accompanying notes to financial statements

Liabilities and Members' Equity (Deficit)

Current Liabilities

Accounts Payable

348,254

225,818

Customer Deposits

91,667

50,000

Due to Affiliate

1,145,397

775,393

Deferred Revenue

708,337

635,282

Total Current Liabilities

2,293,655

1,686,493

Total Liabilities

(1,097,946

(260,914

Total Members' Equity (Deficit)

Total Liabilities and Members' Equity...


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