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WORLD ENERGY SOLUTIONS 8-K 2011 EXHIBIT 99.3
Unaudited Pro Forma Combined Financial Information
The following unaudited pro forma combined statements of operations of World Energy Solutions,
Inc. (the Company or World Energy) for the six-months ended June 30, 2011 and for the year
ended December 31, 2010, gives effect to the acquisition of certain contracts and the assumption of
certain liabilities of the Co-eXprise energy procurement business as if the transaction had
occurred on January 1, 2010. The unaudited pro forma combined balance sheet at June 30, 2011 gives effect to
the acquisition of the Co-eXprise energy procurement business as if the transaction had occurred on
June 30, 2011.
The accompanying unaudited pro forma combined financial information reflects World Energys
acquisition of certain contracts and assumption of certain liabilities pursuant to a Contract
Purchase Agreement between the Company and Co-eXprise dated September 13, 2011. In accordance with
Accounting Standards Codification (ASC) No. 805 Business Combinations, and ASC No. 350
Intangibles Goodwill and Other, the Company used the purchase method of accounting for a
business combination to account for the acquisition as well as the related accounting and reporting
regulations for goodwill and other intangibles. Under the purchase method of accounting, the total
purchase price is allocated to the net assets and liabilities acquired based upon estimates of the
fair value of those assets and liabilities. Any excess purchase price is allocated to goodwill. The
preliminary allocation of the purchase price was based upon estimates of the fair value of the
acquired assets and liabilities in accordance with ASC No. 350.
The following unaudited pro forma combined financial statements of the Company have been
prepared by management in accordance with generally accepted accounting principles in the United
States and do not reflect any operating efficiencies and cost savings that World Energy believes
are achievable.
The unaudited pro forma combined financial information is presented for illustrative purpose
only and is not necessarily indicative of the operating results that would have occurred if the
acquisition had been consummated at the beginning of the periods presented, nor is it necessarily
indicative of future operating results. The pro forma adjustments are based upon available
information and upon certain assumptions described in the notes to the unaudited pro forma combined
financial statements that World Energys management believes are reasonable in the circumstances.
The accompanying pro forma financial combined information should be read in conjunction with the
historical consolidated financial statements and accompanying notes thereto of World Energy
included in its Annual Report on Form 10-K for the year ended December 31, 2010 and the Co-eXprise
energy procurement business financial statements included elsewhere herein.
World Energy Solutions, Inc.
Pro Forma Combined Balance Sheet
June 30, 2011
(Unaudited)
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World Energy Solutions, Inc.
Pro Forma Combined Statement of Operations
For the year ended December 31, 2010
(Unaudited)
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World Energy Solutions, Inc.
Pro Forma Combined Statement of Operations
For the six months ended June 30, 2011
(Unaudited)
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World Energy Solutions, Inc.
Notes to Pro Forma Combined Financial Statements As of June 30, 2011, and For the Six months Ended June 30, 2011 and the Year Ended December 31, 2010
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