Exhibit 99.1


PHP Ventures Acquisition Corp.

Pro Forma Balance Sheet



Actual as of

August 16, 2021

   Pro Forma Adjustments      As Adjusted 
       (unaudited)      (unaudited) 
Current asset - cash  $925,077   $-      $925,077 
Cash Held in Trust Account   50,500,000    7,500,000   a.   58,075,000 
         225,000   b.     
         (150,000)  c.     
Total Current Assets   51,425,077    7,575,000       59,000,077 
Total Assets  $51,425,077   $7,575,000      $59,000,077 
Liabilities and Stockholders’ equity                  
Current Liabilities                  
Accrued expense   320    -       320 
Promissory note- related party   95,120    -       95,120 
Total Current Liabilities   95,440    -       95,440 
Deferred underwriter fee payable   1,750,000    262,500   d.   2,012,500 
Total Liabilities   1,845,440    262,500       2,107,940 
Commitments and Contingencies                  
Redeemable Class A Common Stock                  
Class A common stock subject to possible redemption; 5,137,835 shares at redemption value ($10.10 per share)   44,579,636    7,312,500   e.   51,892,136 
Stockholders’ Equity                  
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   -    -       - 
Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 905,565 issued and outstanding (excluding 5,137,835 shares subject to redemption), respectively   86    75   a.   91 
         2   b.     
         (72)  e.     
Class B common stock, par value $0.0001; 10,000,000 shares authorized; 1,437,500 issued and outstanding   144    -       144 
Additional paid-in capital   5,000,765    7,499,925   a.   5,000,760 
         224,998   b.     
         (150,000)  c.     
         (262,500)  d.     
         (7,312,428)  e.     
Accumulated deficit   (994)   -       (994)
Total Stockholders’ Equity   5,000,001    -       5,000,001 
Total Liabilities, Redeemable Class A Common Stock and Shareholders’ Equity  $51,425,077   $7,575,000      $59,000,077 




PHP Ventures Acquisition Corp.

Note to Pro Forma Financial Statement





The accompanying unaudited Pro Forma Financial Statement presents the Balance Sheet of PHP Ventures Acquisition Corp. (the “Company”) as of August 16, 2021, adjusted for the closing of the underwriters’ overallotment option and related transactions which occurred on August 19, 2021 as described below.


On August 19, 2021, the Company consummated the closing of the sale of 750,000 additional units at a price of $10 per unit (the “Units”) upon receiving notice of the underwriters’ election to fully exercise their overallotment option (“Overallotment Units”), generating additional gross proceeds of $7,500,000 and incurred additional offering costs of $412,500 in underwriting fees. Each Unit consists of one share of Class A common stock of the Company, par value $0.0001 per share (“Class A Common Stock”), one-half of one redeemable warrant of the Company (“Warrant”), with each whole Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share, and one Right (“Right”), with each Right entitling the holder to receive one-tenth of one share of Class A Common Stock, subject to adjustment, pursuant to the Company’s registration statement on Form S-1 (File No. 333-256840). Simultaneously with the exercise of the overallotment, the Company consummated the Private Placement of an additional 22,500 Private Placement Warrants to Global Link Investment LLC, a Delaware limited liability company (the “Sponsor”), generating gross proceeds of $225,000.


Pro forma adjustments to reflect the exercise of the underwriters’ overallotment option are as follows:


Pro forma entry        
a.  Cash held in Trust Account   7,500,000     
   Class A common stock        75 
   Additional paid-in capital        7,499,925 
   To record sale of 750,000 Overallotment Units at $10.00 per Unit           
b.  Cash held in Trust Account   225,000      
   Class A common stock        2 
   Additional paid-in capital        224,998 
   To record additional proceeds from sale of 22,500Private Placement Units           
c.  Additional paid-in capital   150,000      
   Cash held in Trust Account        150,000 
   To record 2% cash underwriting fee on overallotment option          
d.  Additional paid-in capital   262,500      
   Deferred underwriter fee payable        262,500 
   To record 3.5% deferred underwriting fee on overallotment option           
e.  Class A common stock   72      
   Additional paid-in capital   7,312,428      
   Redeemable Class A common stock        7,312,500 
   To restore total equity as $5,000,001.