Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

National Holdings Corporation (Tables)

9 Months Ended

Sep. 30, 2016

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed at the date of the acquisition:

($ in thousands)
Assets
Cash and cash equivalents	$	27,498
Accounts receivable		4,889
Cash deposits with clearing organizations		1,030
Receivable from brokers, dealers and clearing agencies		1,607
Securities owned, at fair value		2,178
Prepaid expenses and other current assets		1,985
Property and equipment		1,132
Restricted cash		353
Goodwill		21,739
Total assets		62,411

Liabilities
Accrued compensation payable	$	14,029
Accounts payable and accrued expenses		6,079
Deferred clearing and marketing credits		1,007
Other current liabilities		707
Total liabilities assumed		21,822
Non-controlling interests		17,717
Net assets acquired	$	22,872

Cash and cash equivalents from National	$	27,498
Cash to NHLD Shareholders (Tender Offer)		22,872
Net cash acquired in acquisition of National	$	4,626

The impact of these items could alter the following pro forma results:

	Three Months Ended September 30,
($ in thousands)	2016		2015
Total revenues	$	47,317	$	42,360
Net loss attributable to common stockholders		(12,962)		(17,797)
Loss per share:
Basic	$	(0.32)	$	(0.45)
Diluted	$	(0.32)	$	(0.45)

	Nine Months Ended September 30,
($ in thousands)	2016		2015
Total revenues	$	131,862	$	126,976
Net loss attributable to common stockholders		(37,355)		(34,985)
Loss per share:
Basic	$	(0.94)	$	(0.90)
Diluted	$	(0.94)	$	(0.90)