MDR, Inc.'s Financial Summary

*** GROSS PROFIT ANALYSIS BY PRODUCT/SERVICE (Year 1 by month) ***
Seller Assisted Marketing Plan Fees Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $214,181 $218,244 $230,434 $295,445 $555,487 $555,487 $341,306 $341,306 $341,306 $351,552 $40,985 $204,925 $3,690,658
Material $6,425 $6,547 $6,913 $8,863 $16,665 $16,665 $10,239 $10,239 $10,239 $10,547 $1,230 $6,148 $110,720
Labor $38,059 $38,781 $40,948 $52,500 $98,709 $98,709 $60,649 $60,649 $60,649 $62,470 $7,283 $36,415 $655,821
Fixed Cost of Goods & Services $2,630 $2,636 $2,642 $2,649 $2,655 $2,662 $2,668 $2,675 $2,681 $2,688 $2,695 $2,701 $31,982
Gross Profit $167,067 $170,280 $179,931 $231,433 $437,458 $437,451 $267,750 $267,743 $267,737 $275,847 $29,777 $159,661 $2,892,135
% of Sales 78.00% 78.02% 78.08% 78.33% 78.75% 78.75% 78.45% 78.45% 78.44% 78.47% 72.65% 77.91% 78.36%
Employee Educational Formats 1 & 2 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $244 $1,466 $7,578 $34,225 $81,407 $149,125 $237,378 $346,166 $475,490 $604,813 $734,136 $863,460 $3,535,488
Material $7 $44 $227 $1,027 $2,442 $4,474 $7,121 $10,385 $14,265 $18,144 $22,024 $25,904 $106,064
Labor $199 $1,193 $6,166 $27,849 $66,241 $121,343 $193,155 $281,675 $386,906 $492,137 $597,367 $702,598 $2,876,829
Gross Profit ($2,592) ($2,407) ($1,457) $2,700 $10,069 $20,646 $34,434 $51,431 $71,638 $91,844 $112,050 $132,257 $520,613
% of Sales -1062.30% -164.19% -19.23% 7.89% 12.37% 13.84% 14.51% 14.86% 15.07% 15.19% 15.26% 15.32% 14.73%
Manager Educational Formats 3 & 4 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $270 $1,622 $8,382 $37,856 $90,045 $164,948 $262,547 $382,896 $525,941 $668,986 $812,031 $955,094 $3,910,618
Material $8 $49 $251 $1,136 $2,701 $4,948 $7,876 $11,487 $15,778 $20,070 $24,361 $28,653 $117,318
Labor $166 $997 $5,155 $23,281 $55,376 $101,440 $161,461 $235,473 $323,443 $411,413 $499,382 $587,363 $2,404,950
Gross Profit ($2,534) ($2,060) $334 $10,790 $29,313 $55,898 $90,542 $133,261 $184,039 $234,815 $285,593 $336,377 $1,356,368
% of Sales -938.52% -127.00% 3.98% 28.50% 32.55% 33.89% 34.49% 34.80% 34.99% 35.10% 35.17% 35.22% 34.68%
Employer Educational Formats 5 & 6 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $1,472 $7,360 $36,804 $160,465 $284,127 $407,789 $532,922 $662,472 $815,577 $939,239 $1,062,900 $1,186,562 $6,097,689
Material $44 $221 $1,104 $4,814 $8,524 $12,234 $15,988 $19,874 $24,467 $28,177 $31,887 $35,597 $182,931
Labor $1,082 $5,410 $27,051 $117,942 $208,833 $299,725 $391,698 $486,917 $599,449 $690,341 $781,232 $872,123 $4,481,803
Gross Profit ($2,284) ($907) $6,007 $35,060 $64,115 $93,168 $122,568 $153,006 $188,980 $218,033 $247,086 $276,141 $1,400,973
% of Sales -155.16% -12.32% 16.32% 21.85% 22.57% 22.85% 23.00% 23.10% 23.17% 23.21% 23.25% 23.27% 22.98%
Small Business Educational Format 7 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $1,104 $5,520 $27,603 $120,349 $213,095 $305,841 $399,692 $496,854 $611,683 $704,429 $797,175 $889,921 $4,573,266
Material $33 $166 $828 $3,610 $6,393 $9,175 $11,991 $14,906 $18,350 $21,133 $23,915 $26,698 $137,198
Labor $541 $2,705 $13,525 $58,971 $104,417 $149,862 $195,849 $243,458 $299,725 $345,170 $390,616 $436,061 $2,240,900
Gross Profit ($2,100) $13 $10,608 $55,119 $99,630 $144,142 $189,184 $235,815 $290,927 $335,438 $379,949 $424,461 $2,163,186
% of Sales -190.22% 0.24% 38.43% 45.80% 46.75% 47.13% 47.33% 47.46% 47.56% 47.62% 47.66% 47.70% 47.30%
Large Business Educational Format 8 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $1,349 $6,747 $33,737 $147,095 $260,454 $373,812 $487,170 $600,528 $715,235 $720,633 $747,623 $860,981 $4,955,364
Material $40 $202 $1,012 $4,413 $7,814 $11,214 $14,615 $18,016 $21,457 $21,619 $22,429 $25,829 $148,660
Labor $721 $3,607 $18,034 $78,628 $139,222 $199,817 $260,411 $321,005 $382,320 $385,205 $399,633 $460,227 $2,648,830
Gross Profit ($2,042) $302 $12,049 $61,405 $110,763 $160,119 $209,476 $258,832 $308,777 $311,121 $322,866 $372,224 $2,125,892
% of Sales -151.37% 4.48% 35.71% 41.75% 42.53% 42.83% 43.00% 43.10% 43.17% 43.17% 43.19% 43.23% 42.90%
Packaged Educational Formats 1, 3, 5 & 7 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $1,939 $9,695 $48,479 $211,369 $374,260 $537,150 $700,041 $862,931 $1,027,761 $1,035,518 $1,074,301 $1,237,191 $7,120,635
Material $58 $291 $1,454 $6,341 $11,228 $16,115 $21,001 $25,888 $30,833 $31,066 $32,229 $37,116 $213,620
Labor $721 $3,606 $18,034 $78,628 $139,222 $199,816 $260,411 $321,005 $382,320 $385,206 $399,633 $460,227 $2,648,829
Gross Profit ($1,470) $3,162 $26,349 $123,751 $221,155 $318,557 $415,961 $513,363 $611,927 $616,558 $639,744 $737,147 $4,226,204
% of Sales -75.81% 32.61% 54.35% 58.55% 59.09% 59.31% 59.42% 59.49% 59.54% 59.54% 59.55% 59.58% 59.35%
Packaged Educational Formats 2, 4, 6 & 8 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $2,501 $12,507 $62,537 $272,662 $482,787 $692,912 $903,037 $1,113,161 $1,323,286 $1,323,286 $1,323,286 $1,323,286 $8,835,248
Material $75 $375 $1,876 $8,180 $14,484 $20,787 $27,091 $33,395 $39,699 $39,699 $39,699 $39,699 $265,059
Labor $1,623 $8,115 $40,576 $176,913 $313,250 $449,587 $585,924 $722,260 $858,597 $858,597 $858,597 $858,597 $5,732,636
Gross Profit ($1,827) $1,381 $17,443 $84,920 $152,398 $219,876 $287,354 $354,831 $422,309 $422,302 $422,295 $422,289 $2,805,571
% of Sales -73.05% 11.04% 27.89% 31.14% 31.57% 31.73% 31.82% 31.88% 31.91% 31.91% 31.91% 31.91% 31.75%
*** BUDGET (Year 1 by month) ***
Sales Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Seller Assisted Marketing Plan Fees $214,181 $218,244 $230,434 $295,445 $555,487 $555,487 $341,306 $341,306 $341,306 $351,552 $40,985 $204,925 $3,690,658
Employee Educational Formats 1 & 2 $244 $1,466 $7,578 $34,225 $81,407 $149,125 $237,378 $346,166 $475,490 $604,813 $734,136 $863,460 $3,535,488
Manager Educational Formats 3 & 4 $270 $1,622 $8,382 $37,856 $90,045 $164,948 $262,547 $382,896 $525,941 $668,986 $812,031 $955,094 $3,910,618
Employer Educational Formats 5 & 6 $1,472 $7,360 $36,804 $160,465 $284,127 $407,789 $532,922 $662,472 $815,577 $939,239 $1,062,900 $1,186,562 $6,097,689
Small Business Educational Format 7 $1,104 $5,520 $27,603 $120,349 $213,095 $305,841 $399,692 $496,854 $611,683 $704,429 $797,175 $889,921 $4,573,266
Large Business Educational Format 8 $1,349 $6,747 $33,737 $147,095 $260,454 $373,812 $487,170 $600,528 $715,235 $720,633 $747,623 $860,981 $4,955,364
Packaged Educational Formats 1, 3, 5 & 7 $1,939 $9,695 $48,479 $211,369 $374,260 $537,150 $700,041 $862,931 $1,027,761 $1,035,518 $1,074,301 $1,237,191 $7,120,635
Packaged Educational Formats 2, 4, 6 & 8 $2,501 $12,507 $62,537 $272,662 $482,787 $692,912 $903,037 $1,113,161 $1,323,286 $1,323,286 $1,323,286 $1,323,286 $8,835,248
Total Sales $223,060 $263,161 $455,554 $1,279,466 $2,341,662 $3,187,064 $3,864,093 $4,806,314 $5,836,279 $6,348,456 $6,592,437 $7,521,420 $42,718,966
Cost of Goods Sold

Material $6,690 $7,895 $13,665 $38,384 $70,251 $95,612 $115,922 $144,190 $175,088 $190,455 $197,774 $225,644 $1,281,570
Labor $43,112 $64,414 $169,489 $614,712 $1,125,270 $1,620,299 $2,109,558 $2,672,442 $3,293,409 $3,630,539 $3,933,743 $4,413,611 $23,690,598
Total Variable COGS $49,802 $72,309 $183,154 $653,096 $1,195,521 $1,715,911 $2,225,480 $2,816,632 $3,468,497 $3,820,994 $4,131,517 $4,639,255 $24,972,168
% of Total Sales 22.33% 27.48% 40.20% 51.04% 51.05% 53.84% 57.59% 58.60% 59.43% 60.19% 62.67% 61.68% 58.46%
Fixed Cost of Goods & Services

Production Management Salaries $20,833 $20,884 $20,936 $20,988 $21,040 $21,092 $21,144 $21,196 $21,248 $21,300 $21,353 $21,406 $253,420
Production Facility Expense $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $420
Production Equipment Rental $17 $17 $17 $17 $17 $17 $17 $17 $17 $17 $17 $17 $204
Small Tools / Supplies $29 $29 $29 $29 $29 $29 $29 $29 $29 $29 $29 $29 $348
Packaging Supplies $47 $47 $47 $47 $47 $47 $47 $47 $47 $47 $47 $47 $564
Other Production Expenses $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $900
Total Fixed Cost of Goods & Services $21,036 $21,087 $21,139 $21,191 $21,243 $21,295 $21,347 $21,399 $21,451 $21,503 $21,556 $21,609 $255,856
% of Total Sales 9.43% 8.01% 4.64% 1.66% 0.91% 0.67% 0.55% 0.45% 0.37% 0.34% 0.33% 0.29% 0.60%
Total Cost of Goods Sold $70,838 $93,396 $204,293 $674,287 $1,216,764 $1,737,206 $2,246,827 $2,838,031 $3,489,948 $3,842,497 $4,153,073 $4,660,864 $25,228,024
Gross Profit $152,222 $169,765 $251,261 $605,179 $1,124,898 $1,449,858 $1,617,266 $1,968,283 $2,346,331 $2,505,959 $2,439,364 $2,860,556 $17,490,942
% of Total Sales 68.24% 64.51% 55.16% 47.30% 48.04% 45.49% 41.85% 40.95% 40.20% 39.47% 37.00% 38.03% 40.94%
Operating Expenses
Sales & Marketing
Advertising $7,500 $7,518 $7,537 $7,556 $7,575 $7,594 $7,613 $7,632 $7,651 $7,670 $7,689 $7,708 $91,243
Commissions $4,461 $5,263 $9,111 $25,589 $46,833 $63,741 $77,282 $96,126 $116,726 $126,969 $131,849 $150,428 $854,378
Entertainment $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500
Literature $1,298 $1,301 $1,304 $1,307 $1,310 $1,313 $1,316 $1,319 $1,322 $1,325 $1,328 $1,331 $15,774
Promotions $1,500 $1,504 $1,508 $1,512 $1,516 $1,520 $1,524 $1,528 $1,532 $1,536 $1,540 $1,544 $18,264
Salaries $7,788 $7,807 $7,826 $7,845 $7,864 $7,883 $7,902 $7,921 $7,941 $7,961 $7,981 $8,001 $94,720
Trade Shows $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $2,004
Travel $500 $501 $502 $503 $504 $505 $506 $507 $508 $509 $510 $511 $6,066
Total Sales & Marketing Costs $23,339 $24,186 $28,080 $44,604 $65,894 $82,848 $96,435 $115,325 $135,972 $146,262 $151,189 $169,815 $1,083,949
% of Total Sales 10.46% 9.19% 6.16% 3.49% 2.81% 2.60% 2.50% 2.40% 2.33% 2.30% 2.29% 2.26% 2.54%
Research & Development

Consulting $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500
Equipment (Expensed Purchases) $1,175 $1,178 $1,181 $1,184 $1,187 $1,190 $1,193 $1,196 $1,199 $1,202 $1,205 $1,208 $14,298
R & D Materials $333 $334 $335 $336 $337 $338 $339 $340 $341 $342 $343 $344 $4,062
R & D Salaries $64 $64 $64 $64 $64 $64 $64 $64 $64 $64 $64 $64 $768
Total R & D Costs $1,697 $1,701 $1,705 $1,709 $1,713 $1,717 $1,721 $1,725 $1,729 $1,733 $1,737 $1,741 $20,628
% of Total Sales 0.76% 0.65% 0.37% 0.13% 0.07% 0.05% 0.04% 0.04% 0.03% 0.03% 0.03% 0.02% 0.05%
General & Administrative

Accounting $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $360
Admin Salaries $3,613 $3,622 $3,631 $3,640 $3,649 $3,658 $3,667 $3,676 $3,685 $3,694 $3,703 $3,712 $43,950
Emergency Funds $100 $106 $112 $119 $126 $133 $141 $149 $158 $167 $177 $188 $1,676
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Equipment Rental/Small Purchases $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $420
Insurance $1,410 $1,413 $1,416 $1,419 $1,422 $1,426 $1,430 $1,434 $1,438 $1,442 $1,446 $1,450 $17,146
Legal Fees $385 $386 $387 $388 $389 $390 $391 $392 $393 $394 $395 $396 $4,686
Licenses and Permits $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500
Office Expenses $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $300
Office Rental $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $180
Taxes (non-Income Taxes) $33 $33 $33 $33 $33 $33 $33 $33 $33 $33 $33 $33 $396
Telephone $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $720
Utilities $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $420
Total G & A Costs $5,866 $5,885 $5,904 $5,924 $5,944 $5,965 $5,987 $6,009 $6,032 $6,055 $6,079 $6,104 $71,754
% of Total Sales 2.63% 2.24% 1.30% 0.46% 0.25% 0.19% 0.15% 0.13% 0.10% 0.10% 0.09% 0.08% 0.17%
Total Operating Expenses $30,902 $31,772 $35,689 $52,237 $73,551 $90,530 $104,143 $123,059 $143,733 $154,050 $159,005 $177,660 $1,176,331
% of Total Sales 13.85% 12.07% 7.83% 4.08% 3.14% 2.84% 2.70% 2.56% 2.46% 2.43% 2.41% 2.36% 2.75%
Income From Operations $121,320 $137,993 $215,572 $552,942 $1,051,347 $1,359,328 $1,513,123 $1,845,224 $2,202,598 $2,351,909 $2,280,359 $2,682,896 $16,314,611
% of Total Sales 54.39% 52.44% 47.32% 43.22% 44.90% 42.65% 39.16% 38.39% 37.74% 37.05% 34.59% 35.67% 38.19%
Interest Income $6 $12 $24 $48 $97 $195 $392 $789 $1,587 $3,193 $6,424 $12,924 $25,691
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Income before Taxes $121,326 $138,005 $215,596 $552,990 $1,051,444 $1,359,523 $1,513,515 $1,846,013 $2,204,185 $2,355,102 $2,286,783 $2,695,820 $16,340,302
Taxes on Income $40,038 $45,542 $71,147 $182,487 $346,977 $448,643 $499,460 $609,184 $727,381 $777,184 $754,638 $889,619 $5,392,300
Net Income After Taxes $81,288 $92,463 $144,449 $370,503 $704,467 $910,880 $1,014,055 $1,236,829 $1,476,804 $1,577,918 $1,532,145 $1,806,201 $10,948,002
% of Total Sales 36.44% 35.14% 31.71% 28.96% 30.08% 28.58% 26.24% 25.73% 25.30% 24.86% 23.24% 24.01% 25.63%
*** INCOME STATEMENT (Year 1 by month) ***
Sales Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Seller Assisted Marketing Plan Fees $214,181 $218,244 $230,434 $295,445 $555,487 $555,487 $341,306 $341,306 $341,306 $351,552 $40,985 $204,925 $3,690,658
Employee Educational Formats 1 & 2 $244 $1,466 $7,578 $34,225 $81,407 $149,125 $237,378 $346,166 $475,490 $604,813 $734,136 $863,460 $3,535,488
Manager Educational Formats 3 & 4 $270 $1,622 $8,382 $37,856 $90,045 $164,948 $262,547 $382,896 $525,941 $668,986 $812,031 $955,094 $3,910,618
Employer Educational Formats 5 & 6 $1,472 $7,360 $36,804 $160,465 $284,127 $407,789 $532,922 $662,472 $815,577 $939,239 $1,062,900 $1,186,562 $6,097,689
Small Business Educational Format 7 $1,104 $5,520 $27,603 $120,349 $213,095 $305,841 $399,692 $496,854 $611,683 $704,429 $797,175 $889,921 $4,573,266
Large Business Educational Format 8 $1,349 $6,747 $33,737 $147,095 $260,454 $373,812 $487,170 $600,528 $715,235 $720,633 $747,623 $860,981 $4,955,364
Packaged Educational Formats 1, 3, 5 & 7 $1,939 $9,695 $48,479 $211,369 $374,260 $537,150 $700,041 $862,931 $1,027,761 $1,035,518 $1,074,301 $1,237,191 $7,120,635
Packaged Educational Formats 2, 4, 6 & 8 $2,501 $12,507 $62,537 $272,662 $482,787 $692,912 $903,037 $1,113,161 $1,323,286 $1,323,286 $1,323,286 $1,323,286 $8,835,248
Total Sales $223,060 $263,161 $455,554 $1,279,466 $2,341,662 $3,187,064 $3,864,093 $4,806,314 $5,836,279 $6,348,456 $6,592,437 $7,521,420 $42,718,966
Cost of Goods Sold

Material $6,690 $7,895 $13,665 $38,384 $70,251 $95,612 $115,922 $144,190 $175,088 $190,455 $197,774 $225,644 $1,281,570
Labor $43,112 $64,414 $169,489 $614,712 $1,125,270 $1,620,299 $2,109,558 $2,672,442 $3,293,409 $3,630,539 $3,933,743 $4,413,611 $23,690,598
Total Variable COGS $49,802 $72,309 $183,154 $653,096 $1,195,521 $1,715,911 $2,225,480 $2,816,632 $3,468,497 $3,820,994 $4,131,517 $4,639,255 $24,972,168
% of Total Sales 22.33% 27.48% 40.20% 51.04% 51.05% 53.84% 57.59% 58.60% 59.43% 60.19% 62.67% 61.68% 58.46%
Total Fixed Cost of Goods & Services $21,036 $21,087 $21,139 $21,191 $21,243 $21,295 $21,347 $21,399 $21,451 $21,503 $21,556 $21,609 $255,856
Total Cost of Goods Sold $70,838 $93,396 $204,293 $674,287 $1,216,764 $1,737,206 $2,246,827 $2,838,031 $3,489,948 $3,842,497 $4,153,073 $4,660,864 $25,228,024
Gross Profit $152,222 $169,765 $251,261 $605,179 $1,124,898 $1,449,858 $1,617,266 $1,968,283 $2,346,331 $2,505,959 $2,439,364 $2,860,556 $17,490,942
% of Total Sales 68.24% 64.51% 55.16% 47.30% 48.04% 45.49% 41.85% 40.95% 40.20% 39.47% 37.00% 38.03% 40.94%
Operating Expenses
Sales & Marketing $23,339 $24,186 $28,080 $44,604 $65,894 $82,848 $96,435 $115,325 $135,972 $146,262 $151,189 $169,815 $1,083,949
Research & Development $1,697 $1,701 $1,705 $1,709 $1,713 $1,717 $1,721 $1,725 $1,729 $1,733 $1,737 $1,741 $20,628
G & A (without Depreciation) $5,866 $5,885 $5,904 $5,924 $5,944 $5,965 $5,987 $6,009 $6,032 $6,055 $6,079 $6,104 $71,754
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $30,902 $31,772 $35,689 $52,237 $73,551 $90,530 $104,143 $123,059 $143,733 $154,050 $159,005 $177,660 $1,176,331
% of Total Sales 13.85% 12.07% 7.83% 4.08% 3.14% 2.84% 2.70% 2.56% 2.46% 2.43% 2.41% 2.36% 2.75%
Income From Operations $121,320 $137,993 $215,572 $552,942 $1,051,347 $1,359,328 $1,513,123 $1,845,224 $2,202,598 $2,351,909 $2,280,359 $2,682,896 $16,314,611
% of Total Sales 54.39% 52.44% 47.32% 43.22% 44.90% 42.65% 39.16% 38.39% 37.74% 37.05% 34.59% 35.67% 38.19%
Interest Income $6 $12 $24 $48 $97 $195 $392 $789 $1,587 $3,193 $6,424 $12,924 $25,691
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Income before Taxes $121,326 $138,005 $215,596 $552,990 $1,051,444 $1,359,523 $1,513,515 $1,846,013 $2,204,185 $2,355,102 $2,286,783 $2,695,820 $16,340,302
Taxes on Income $40,038 $45,542 $71,147 $182,487 $346,977 $448,643 $499,460 $609,184 $727,381 $777,184 $754,638 $889,619 $5,392,300
% of Total Sales 36.44% 35.14% 31.71% 28.96% 30.08% 28.58% 26.24% 25.73% 25.30% 24.86% 23.24% 24.01% 25.63%
*** BALANCE SHEET (Year 1 by month) ***

As of the Month Ending:
Assets Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11
Current Assets
Cash ($193,776) ($299,956) ($535,313) ($713,939) ($934,229) ($997,128) ($818,916) ($332,398) $371,883 $1,140,974 $2,417,458 $3,891,073
Investments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accounts Receivable $223,060 $243,111 $359,358 $867,510 $1,810,564 $2,764,363 $3,525,579 $4,335,204 $5,321,297 $6,092,368 $6,470,447 $7,056,929
Notes Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Inventory $122,842 $323,992 $698,448 $1,209,419 $1,733,599 $2,274,021 $2,858,269 $3,390,159 $3,828,506 $4,218,811 $4,406,969 $4,660,864
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $152,126 $267,147 $522,493 $1,362,990 $2,609,934 $4,041,256 $5,564,932 $7,392,965 $9,521,686 $11,452,153 $13,294,874 $15,608,866
Plant & Equipment

Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Buildings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Building/Leasehold Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Machinery & Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Office Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Automobiles $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Net Plant & Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets $152,126 $267,147 $522,493 $1,362,990 $2,609,934 $4,041,256 $5,564,932 $7,392,965 $9,521,686 $11,452,153 $13,294,874 $15,608,866
Liabilities & Owners' Equity

Current Liabilities
Short Term Debt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accounts Payable $70,838 $93,396 $204,293 $674,287 $1,216,764 $1,737,206 $2,246,827 $2,838,031 $3,489,948 $3,842,497 $4,153,073 $4,660,864
Other Payables $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accrued Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Liabilities $70,838 $93,396 $204,293 $674,287 $1,216,764 $1,737,206 $2,246,827 $2,838,031 $3,489,948 $3,842,497 $4,153,073 $4,660,864
Long Term Debt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Liabilities $70,838 $93,396 $204,293 $674,287 $1,216,764 $1,737,206 $2,246,827 $2,838,031 $3,489,948 $3,842,497 $4,153,073 $4,660,864
Owner/Stockholder Equity
Common Stock $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Retained Earnings $81,288 $173,751 $318,200 $688,703 $1,393,170 $2,304,050 $3,318,105 $4,554,934 $6,031,738 $7,609,656 $9,141,801 $10,948,002
Dividends Payable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Owners' Equity $81,288 $173,751 $318,200 $688,703 $1,393,170 $2,304,050 $3,318,105 $4,554,934 $6,031,738 $7,609,656 $9,141,801 $10,948,002
Total Liabilities & Equity $152,126 $267,147 $522,493 $1,362,990 $2,609,934 $4,041,256 $5,564,932 $7,392,965 $9,521,686 $11,452,153 $13,294,874 $15,608,866
*** CASH FLOWS (STATEMENT of CHANGES in FINANCIAL POSITION: Year 1 by month) ***
Sources of Cash: Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Operations during the year:
Add items not decreasing cash
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase in Accounts Payable $70,838 $22,558 $110,897 $469,994 $542,477 $520,442 $509,621 $591,204 $651,917 $352,549 $310,576 $507,791 $4,660,864
Increase in Other Payables $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase in Accrued Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Deduct items not increasing cash

Increase in Accounts Receivable $223,060 $20,051 $116,247 $508,152 $943,054 $953,799 $761,216 $809,625 $986,093 $771,071 $378,079 $586,482 $7,056,929
Increase in Inventory $122,842 $201,150 $374,456 $510,971 $524,180 $540,422 $584,248 $531,890 $438,347 $390,305 $188,158 $253,895 $4,660,864
Cash from Operations ($193,776) ($106,180) ($235,357) ($178,626) ($220,290) ($62,899) $178,212 $486,518 $704,281 $769,091 $1,276,484 $1,473,615 $3,891,073
Financing & Other:

Sale of Stock $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Proceeds from Short Term Loans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Proceeds from Long Term Loans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sale of Investments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Collection of Notes Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Reduction of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Reduction of Other Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Cash from Operations & Financing ($193,776) ($106,180) ($235,357) ($178,626) ($220,290) ($62,899) $178,212 $486,518 $704,281 $769,091 $1,276,484 $1,473,615 $3,891,073
Applications of Cash:
Payment of Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchases of Fixed Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Repayment of Short Term Loans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Repayment of Long Term Loans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase of Investments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase in Notes Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase in Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase in Other Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Increase/(Decrease) in Cash ($193,776) ($106,180) ($235,357) ($178,626) ($220,290) ($62,899) $178,212 $486,518 $704,281 $769,091 $1,276,484 $1,473,615 $3,891,073
Change in Cash Balance

Ending Cash Balance ($193,776) ($299,956) ($535,313) ($713,939) ($934,229) ($997,128) ($818,916) ($332,398) $371,883 $1,140,974 $2,417,458 $3,891,073 $3,891,073
Beginning Cash Balance $0 ($193,776) ($299,956) ($535,313) ($713,939) ($934,229) ($997,128) ($818,916) ($332,398) $371,883 $1,140,974 $2,417,458 $0
Increase/(Decrease) in Cash ($193,776) ($106,180) ($235,357) ($178,626) ($220,290) ($62,899) $178,212 $486,518 $704,281 $769,091 $1,276,484 $1,473,615 $3,891,073
*** INCOME STATEMENT (Years 1 - 5) ***

% of Total % of Total % of Total % of Total % of Total
Sales Year 1 Sales Year 2 Sales Year 3 Sales Year 4 Sales Year 5 Sales
Seller Assisted Marketing Plan Fees $3,690,658 8.64% $8,341,494 5.13% $0 0.00% $0 0.00% $0 0.00%
Employee Educational Formats 1 & 2 $3,535,488 8.28% $20,448,723 12.58% $35,535,786 15.19% $37,245,102 15.63% $27,933,826 15.63%
Manager Educational Formats 3 & 4 $3,910,618 9.15% $22,618,417 13.92% $39,306,280 16.80% $41,196,962 17.29% $30,897,722 17.29%
Employer Educational Formats 5 & 6 $6,097,689 14.27% $24,417,255 15.03% $37,010,116 15.82% $37,381,100 15.69% $28,035,825 15.69%
Small Business Educational Format 7 $4,573,266 10.71% $18,312,938 11.27% $27,757,582 11.86% $28,035,820 11.77% $21,026,865 11.77%
Large Business Educational Format 8 $4,955,364 11.60% $17,910,564 11.02% $25,699,878 10.98% $25,699,878 10.79% $19,274,909 10.79%
Packaged Educational Formats 1, 3, 5 & 7 $7,120,635 16.67% $25,736,674 15.84% $36,929,567 15.78% $36,929,567 15.50% $27,697,175 15.50%
Packaged Educational Formats 2, 4, 6 & 8 $8,835,248 20.68% $24,714,680 15.21% $31,758,864 13.57% $31,758,864 13.33% $23,819,148 13.33%
Total Sales $42,718,966 100.00% $162,500,745 100.00% $233,998,073 100.00% $238,247,293 100.00% $178,685,470 100.00%
Cost of Goods Sold

Material $1,281,570 3.00% $1,320,017 0.81% $1,359,618 0.58% $1,400,407 0.59% $1,442,419 0.81%
Labor $23,690,598 55.46% $24,401,316 15.02% $25,133,355 10.74% $25,887,356 10.87% $26,663,977 14.92%
Total Variable COGS $24,972,168 58.46% $25,721,333 15.83% $26,492,973 11.32% $27,287,763 11.45% $28,106,396 15.73%
Total Fixed Cost of Goods & Services $255,856 0.60% $263,532 0.16% $271,438 0.12% $279,581 0.12% $287,968 0.16%
Total Cost of Goods Sold $25,228,024 59.06% $25,984,865 15.99% $26,764,411 11.44% $27,567,344 11.57% $28,394,364 15.89%
Gross Profit $17,490,942 40.94% $136,515,880 84.01% $207,233,662 88.56% $210,679,949 88.43% $150,291,106 84.11%
Operating Expenses
Sales & Marketing $1,083,949 2.54% $1,116,467 0.69% $1,149,961 0.49% $1,184,460 0.50% $1,219,994 0.68%
Research & Development $20,628 0.05% $22,072 0.01% $23,617 0.01% $25,270 0.01% $27,039 0.02%
G & A (without Depreciation) $71,754 0.17% $73,907 0.05% $76,124 0.03% $78,408 0.03% $80,760 0.05%
Depreciation $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 0.00%
Total Operating Expenses $1,176,331 2.75% $1,212,446 0.75% $1,249,702 0.53% $1,288,138 0.54% $1,327,793 0.74%
Income From Operations $16,314,611 38.19% $135,303,434 83.26% $205,983,960 88.03% $209,391,811 87.89% $148,963,313 83.37%
Interest Income $25,691 0.06% $27,489 0.02% $29,413 0.01% $31,472 0.01% $33,675 0.02%
Interest Expense $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 0.00%
Income before Taxes $16,340,302 38.25% $135,330,923 83.28% $206,013,373 88.04% $209,423,283 87.90% $148,996,988 83.39%
Taxes on Income $5,392,300 12.62% $44,659,205 27.48% $67,984,413 29.05% $69,109,683 29.01% $49,169,006 27.52%
Net Income After Taxes $10,948,002 25.63% $90,671,718 55.80% $138,028,960 58.99% $140,313,600 58.89% $99,827,982 55.87%
*** BALANCE SHEET (Years 1 - 5) ***
As of the Year Ending:
Assets Year 1 Year 2 Year 3 Year 4 Year 5

Current Assets
Cash $3,891,073 $88,263,494 $220,415,962 $360,380,311 $465,103,785
Investments $0 $0 $0 $0 $0
Accounts Receivable $7,056,929 $13,356,226 $19,232,718 $19,581,969 $14,686,477
Notes Receivable $0 $0 $0 $0 $0
Inventory $4,660,864 $2,135,742 $2,199,815 $2,265,809 $2,333,783
Other Current Assets $0 $0 $0 $0 $0
Total Current Assets $15,608,866 $103,755,462 $241,848,495 $382,228,089 $482,124,045
Plant & Equipment

Land $0 $0 $0 $0 $0
Buildings $0 $0 $0 $0 $0
Building/Leasehold Improvements $0 $0 $0 $0 $0
Machinery & Equipment $0 $0 $0 $0 $0
Office Equipment $0 $0 $0 $0 $0
Automobiles $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0
Total Net Plant & Equipment $0 $0 $0 $0 $0
Other Assets $0 $0 $0 $0 $0
Total Assets $15,608,866 $103,755,462 $241,848,495 $382,228,089 $482,124,045
Liabilities & Owners' Equity

Current Liabilities
Short Term Debt $0 $0 $0 $0 $0
Accounts Payable $4,660,864 $2,135,742 $2,199,815 $2,265,809 $2,333,783
Other Payables $0 $0 $0 $0 $0
Accrued Liabilities $0 $0 $0 $0 $0
Total Current Liabilities $4,660,864 $2,135,742 $2,199,815 $2,265,809 $2,333,783
Long Term Debt $0 $0 $0 $0 $0

Total Liabilities $4,660,864 $2,135,742 $2,199,815 $2,265,809 $2,333,783
Owner/Stockholder Equity
Common Stock $0 $0 $0 $0 $0
Retained Earnings $10,948,002 $101,619,720 $239,648,680 $379,962,280 $479,790,262
Dividends Payable $0 $0 $0 $0 $0
Total Owners' Equity $10,948,002 $101,619,720 $239,648,680 $379,962,280 $479,790,262
Total Liabilities & Equity $15,608,866 $103,755,462 $241,848,495 $382,228,089 $482,124,045
*** CASH FLOWS (STATEMENT of CHANGES in FINANCIAL POSITION: Years 1 - 5) ***
Sources of Cash: Year 1 Year 2 Year 3 Year 4 Year 5

Operations during the year:
Net Income After Taxes $10,948,002 $90,671,718 $138,028,960 $140,313,600 $99,827,982
Add items not decreasing cash
Depreciation $0 $0 $0 $0 $0
Increase in Accounts Payable $4,660,864 ($2,525,122) $64,073 $65,994 $67,974
Increase in Other Payables $0 $0 $0 $0 $0
Increase in Accrued Liabilities $0 $0 $0 $0 $0
Deduct items not increasing cash

Increase in Accounts Receivable $7,056,929 $6,299,297 $5,876,492 $349,251 ($4,895,492)
Increase in Inventory $4,660,864 ($2,525,122) $64,073 $65,994 $67,974
Cash from Operations $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474
Financing & Other:

Sale of Stock $0 $0 $0 $0 $0
Proceeds from Short Term Loans $0 $0 $0 $0 $0
Proceeds from Long Term Loans $0 $0 $0 $0 $0
Sale of Investments $0 $0 $0 $0 $0
Collection of Notes Receivable $0 $0 $0 $0 $0
Reduction of Other Current Assets $0 $0 $0 $0 $0
Reduction of Other Assets $0 $0 $0 $0 $0
Cash from Operations & Financing $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474
Applications of Cash:
Payment of Dividends $0 $0 $0 $0 $0
Purchases of Fixed Assets $0 $0 $0 $0 $0
Repayment of Short Term Loans $0 $0 $0 $0 $0
Repayment of Long Term Loans $0 $0 $0 $0 $0
Purchase of Investments $0 $0 $0 $0 $0
Increase in Notes Receivable $0 $0 $0 $0 $0
Increase in Other Current Assets $0 $0 $0 $0 $0
Increase in Other Assets $0 $0 $0 $0 $0
Increase/(Decrease) in Cash $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474
Change in Cash Balance

Ending Cash Balance $3,891,073 $88,263,494 $220,415,962 $360,380,311 $465,103,785
Beginning Cash Balance $0 $3,891,073 $88,263,494 $220,415,962 $360,380,311
Increase/(Decrease) in Cash $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474
*** RATIO ANALYSIS (Years 1 - 5) ***
CAUTION: These ratios are valid only if you have completed your Budget,
Income Statement and Cash Flows statements and verified that
your Balance Sheets are in balance.
Ratios Year 1 Year 2 Year 3 Year 4 Year 5

Current Ratio 3.35 48.58 109.94 168.69 206.58 Current Assets / Current Liabilities
Quick Ratio (Acid Test) 2.35 47.58 108.94 167.69 205.58 Quick Assets (Cash + Receivables) / Current Liabilities
Return on Total Assets 70.14% 87.39% 57.07% 36.71% 20.71% Net Income After Taxes / Total Assets (at year end)
Total Assets Turnover 2.74 1.57 0.97 0.62 0.37 Total Sales / Total Assets (at year end)
Total Debt to Total Assets 0.30 0.02 0.01 0.01 0.00 Total Liabilities / Total Assets
Gross Profit Margin 40.94% 84.01% 88.56% 88.43% 84.11% Gross Profit (Net Sales) / Total Sales
Operating Profit Margin 38.19% 83.26% 88.03% 87.89% 83.37% Income From Operations (Before Interest & Taxes) / Total Sales
Net Profit Margin 25.63% 55.80% 58.99% 58.89% 55.87% Net Income After Taxes / Total Sales
Return on Sales 62.59% 66.42% 66.61% 66.60% 66.42% Net Income After Taxes / Gross Profit (Net Sales)
Return on Owners' Equity 100.00% 89.23% 57.60% 36.93% 20.81% Net Income After Taxes / Total Owners' Equity (at year end)
Total Debt to Owners' Equity 0.43 0.02 0.01 0.01 0.00 Total Liabilities / Total Owners' Equity
*** BREAK-EVEN ANALYSIS (Year 1 by month) ***
Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Year 1
Sales $223,060 $263,161 $455,554 $1,279,466 $2,341,662 $3,187,064 $3,864,093 $4,806,314 $5,836,279 $6,348,456 $6,592,437 $7,521,420 $42,718,966
Fixed Costs
Sales & Marketing (w/o Commissions) $18,878 $18,923 $18,969 $19,015 $19,061 $19,107 $19,153 $19,199 $19,246 $19,293 $19,340 $19,387 $229,571
Research & Development $1,697 $1,701 $1,705 $1,709 $1,713 $1,717 $1,721 $1,725 $1,729 $1,733 $1,737 $1,741 $20,628
G & A (without Depreciation) $5,866 $5,885 $5,904 $5,924 $5,944 $5,965 $5,987 $6,009 $6,032 $6,055 $6,079 $6,104 $71,754
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Less Reclassified Fixed Costs ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($125) ($1,500)
Total Fixed Costs $47,352 $47,471 $47,592 $47,714 $47,836 $47,959 $48,083 $48,207 $48,333 $48,459 $48,587 $48,716 $576,309
Variable Costs
Material and Labor $49,802 $72,309 $183,154 $653,096 $1,195,521 $1,715,911 $2,225,480 $2,816,632 $3,468,497 $3,820,994 $4,131,517 $4,639,255 $24,972,168
Commissions $4,461 $5,263 $9,111 $25,589 $46,833 $63,741 $77,282 $96,126 $116,726 $126,969 $131,849 $150,428 $854,378
Plus Reclassified Fixed Costs $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500
Total Variable Costs $54,388 $77,697 $192,390 $678,810 $1,242,479 $1,779,777 $2,302,887 $2,912,883 $3,585,348 $3,948,088 $4,263,491 $4,789,808 $25,828,046
Income from Operations $121,320 $137,993 $215,572 $552,942 $1,051,347 $1,359,328 $1,513,123 $1,845,224 $2,202,598 $2,351,909 $2,280,359 $2,682,896 $16,314,611
Interest Income(Expense) - "Fixed" $6 $12 $24 $48 $97 $195 $392 $789 $1,587 $3,193 $6,424 $12,924 $25,691
Income Taxes - "Variable" $40,038 $45,542 $71,147 $182,487 $346,977 $448,643 $499,460 $609,184 $727,381 $777,184 $754,638 $889,619 $5,392,300
Income from Operations Analysis

Contribution Margin 75.62% 70.48% 57.77% 46.95% 46.94% 44.16% 40.40% 39.39% 38.57% 37.81% 35.33% 36.32% 39.54%
Break-Even Sales Volume $62,621 $67,358 $82,385 $101,636 $101,908 $108,612 $119,009 $122,369 $125,319 $128,164 $137,533 $134,138 $1,457,548
Sales Volume Above Break-Even $160,439 $195,803 $373,169 $1,177,830 $2,239,754 $3,078,452 $3,745,084 $4,683,945 $5,710,960 $6,220,292 $6,454,904 $7,387,282 $41,261,418
Net Income After Taxes Analysis

Contribution Margin 57.67% 53.17% 42.15% 32.68% 32.12% 30.08% 27.48% 26.72% 26.10% 25.57% 23.88% 24.49% 26.92%
Break-Even Sales Volume $82,122 $89,305 $112,967 $146,137 $149,218 $160,091 $176,419 $183,368 $191,229 $202,017 $230,359 $251,695 $2,236,513
Sales Volume Above Break-Even $140,938 $173,856 $342,587 $1,133,329 $2,192,444 $3,026,973 $3,687,674 $4,622,946 $5,645,050 $6,146,439 $6,362,078 $7,269,725 $40,482,453
*
% of
Sales
*
3.00%
17.77%
0.87%
78.36%
*
*
% of
Sales
*
3.00%
81.37%
0.90%
14.73%
*
*
% of
Sales
*
3.00%
61.50%
0.82%
34.68%
*
*
% of
Sales
*
3.00%
73.50%
0.52%
22.98%
*
*
% of
Sales
*
3.00%
49.00%
0.70%
47.30%
*
*
% of
Sales
*
3.00%
53.45%
0.65%
42.90%
*
*
% of
Sales
*
3.00%
37.20%
0.45%
59.35%
*
*
% of
Sales
*
3.00%
64.88%
0.36%
31.75%
*
% of Total
Sales
8.64%
8.28%
9.15%
14.27%
10.71%
11.60%
16.67%
20.68%
100.00%
3.00%
55.46%
58.46%
0.59%
0.00%
0.00%
0.00%
0.00%
0.00%
0.60%
59.06%
40.94%
*
*
0.21%
2.00%
0.00%
0.04%
0.04%
0.22%
0.00%
0.01%
2.54%
0.00%
0.03%
0.01%
0.00%
0.05%
0.00%
0.10%
0.00%
0.00%
0.00%
0.04%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.17%
2.75%
38.19%
0.06%
0.00%
38.25%
25.63%
% of Total
Sales
8.64%
8.28%
9.15%
14.27%
10.71%
11.60%
16.67%
20.68%
100.00%
3.00%
55.46%
58.46%
0.60%
59.06%
40.94%
2.54%
0.05%
0.17%
0.00%
2.75%
38.19%
0.06%
0.00%
38.25%
12.62%
25.63%
% of Total
Sales
0.60%
0.54%
0.05%
0.17%
0.00%
0.00%
1.35%
58.46%
2.00%
0.00%
60.46%
38.19%
0.06%
12.62%
25.63%
3.41%
96.59%
5.24%
94.76%
Pre-Operating Expenses Pre-Operating Investment
Advertising $1,500 Owner
Literature $14,800 Investor
Promotions $3,300 Investor B
Other Marketing & Advertising $23,760 Total Pre-Operating Investment
Research & Development $238,000
General & Admin $4,716
Pre-Operating Debt
Current Debt
Long-Term Debt
Long-Term Debt 2
Long-Term Debt 3
Total Pre-Operating Debt
Starting Cash
Total Pre-Operating Expenses $286,076
Pre-Operating Assets
Inventory $42,520
Property
Equipment $23,434
Other Long-Term Assets
Total Pre-Operating Assets $65,954
$289,000
$110,000,000
$110,289,000
$0
$0
$109,936,970
Average Average
Revenue Line Title Year 2
Price Cost
Seller Assisted Marketing Plan $38,830.00
Employee Edu. Formats 1 & 2 $4,151.51 $17,436,342
Manager Edu. Formats 3 & 4 $4,592.00 $19,286,400
Employer Edu. Formats 5 & 6 $25,000.00 $105,000,000
Small Business Edu. Format 7 $14,583.00 $61,248,600
Large Business Edu. Format 8 $22,917.00 $96,251,400
Packaged Edu. Formats 1/3/5/7 $32,930.70 $138,308,940
Packaged Edu. Formats 2/4/6/8 $42,479.83 $178,415,286
Units Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Seller Assisted Marketing Plan 12 50 50 50 50 50
Employee Edu. Formats 1 & 2 12 50 50
Manager Edu. Formats 3 & 4 12 50
Employer Edu. Formats 5 & 6 12
Small Business Edu. Format 7
Large Business Edu. Format 8
Packaged Edu. Formats 1/3/5/7
0 0 0 0 0 0
0 0 0 0 0 0
Total Units 12 50 50 62 112 162
Unit Price Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Seller Assisted Marketing Plan $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
Employee Edu. Formats 1 & 2 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
Manager Edu. Formats 3 & 4 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
Employer Edu. Formats 5 & 6 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
Small Business Edu. Format 7 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
Large Business Edu. Format 8 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
Packaged Edu. Formats 1/3/5/7 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
Packaged Edu. Formats 2/4/6/8 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Revenue Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Seller Assisted Marketing Plan $465,960 $1,941,500 $1,941,500 $1,941,500 $1,941,500 $1,941,500
Employee Edu. Formats 1 & 2 $0 $0 $0 $49,818 $207,576 $207,576
Manager Edu. Formats 3 & 4 $0 $0 $0 $0 $55,104 $229,600
Employer Edu. Formats 5 & 6 $0 $0 $0 $0 $0 $300,000
Small Business Edu. Format 7 $0 $0 $0 $0 $0 $0
Large Business Edu. Format 8 $0 $0 $0 $0 $0 $0
Packaged Edu. Formats 1/3/5/7 $0 $0 $0 $0 $0 $0
Packaged Edu. Formats 2/4/6/8 $0 $0 $0 $0 $0 $0
0 $0 $0 $0 $0 $0 $0
0 $0 $0 $0 $0 $0 $0
Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318 $2,204,180 $2,678,676
Unit Cost Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Direct Costs Month 1 Month 2 Month 3 Month 4 Month 5 Month 6
Material $6,690 $7,895 $13,665 $38,384 $70,251 $95,612
Production Facility Expense $3,500 $3,500 $3,500 $3,500 $3,500 $3,500
Production Equipment Rental $1,700 $1,700 $1,700 $1,700 $1,700 $1,700
Small Tools / Supplies $2,900 $2,900 $2,900 $2,900 $2,900 $2,900
Packaging Supplies $4,700 $4,700 $4,700 $4,700 $4,700 $4,700
Other Production Expenses $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Direct Cost of Revenue $26,990 $28,195 $33,965 $58,684 $90,551 $115,912

Year 3 Year 4 Year 5 Overview
$0 $0 Year 1 Year 2 Year 3
$17,436,342 $17,436,342 $17,436,342 Revenue $42,059,350 $615,946,968 $615,946,968
$19,286,400 $19,286,400 $19,286,400 Rev Growth 1464% 100%
$105,000,000 $105,000,000 $105,000,000 COG $1,525,170 $1,570,925 $1,618,053
$61,248,600 $61,248,600 $61,248,600 COG % 3.6% 0.3% 0.3%
$96,251,400 $96,251,400 $96,251,400 GM $40,534,180 $614,376,043 $614,328,915
$138,308,940 $138,308,940 $138,308,940 GM % 96.4% 99.7% 99.7%
$178,415,286 $178,415,286 $178,415,286 Earnings ($7,178,252) $172,012,277 $120,930,890
Earnings Percentage -17.1% 27.9% 19.6%
Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14

50 0 0
50 50 50 50 50 50 350 350
50 50 50 50 50 50 350 350
50 50 50 50 50 50 350 350
12 50 50 50 50 50 350 350
12 50 50 50 50 350 350
12 50 50 50 350 350
12 50 50 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
212 212 262 312 350 350 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$1,941,500 $0 $0 $0 $0 $0 $0 $0
$207,576 $207,576 $207,576 $207,576 $207,576 $207,576 $1,453,029 $1,453,029
$229,600 $229,600 $229,600 $229,600 $229,600 $229,600 $1,607,200 $1,607,200
$1,250,000 $1,250,000 $1,250,000 $1,250,000 $1,250,000 $1,250,000 $8,750,000 $8,750,000
$174,996 $729,150 $729,150 $729,150 $729,150 $729,150 $5,104,050 $5,104,050
$0 $275,004 $1,145,850 $1,145,850 $1,145,850 $1,145,850 $8,020,950 $8,020,950
$0 $0 $395,168 $1,646,535 $1,646,535 $1,646,535 $11,525,745 $11,525,745
$0 $0 $0 $509,758 $2,123,992 $2,123,992 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702 $7,332,702 $51,328,914 $51,328,914

$115,922 $144,190 $175,088 $190,455 $197,774 $225,644 $110,001 $110,001
$3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,605 $3,605
$1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,751 $1,751
$2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,987 $2,987
$4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,841 $4,841
$7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,725 $7,725
$0 $0
$0 $0
$0 $0
$0 $0
$136,222 $164,490 $195,388 $210,755 $218,074 $245,944 $130,910 $130,910
ew
Year 4 Year 5
$615,946,968 $615,946,968
100% 100%
$1,666,595 $1,716,593
0.3% 0.3%
$614,280,373 $614,230,375
99.7% 99.7%
$120,412,597 $119,453,349
19.5% 19.4%

0 0 0 0 0 0 0 0
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$110,001 $110,001 $110,001 $110,001 $110,001 $110,001 $110,001 $110,001
$3,605 $3,605 $3,605 $3,605 $3,605 $3,605 $3,605 $3,605
$1,751 $1,751 $1,751 $1,751 $1,751 $1,751 $1,751 $1,751
$2,987 $2,987 $2,987 $2,987 $2,987 $2,987 $2,987 $2,987
$4,841 $4,841 $4,841 $4,841 $4,841 $4,841 $4,841 $4,841
$7,725 $7,725 $7,725 $7,725 $7,725 $7,725 $7,725 $7,725
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910
0 0 0 0 0 0 0 0
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$110,001 $110,001 $113,302 $113,302 $113,302 $113,302 $113,302 $113,302
$3,605 $3,605 $3,713 $3,713 $3,713 $3,713 $3,713 $3,713
$1,751 $1,751 $1,804 $1,804 $1,804 $1,804 $1,804 $1,804
$2,987 $2,987 $3,077 $3,077 $3,077 $3,077 $3,077 $3,077
$4,841 $4,841 $4,986 $4,986 $4,986 $4,986 $4,986 $4,986
$7,725 $7,725 $7,957 $7,957 $7,957 $7,957 $7,957 $7,957
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$130,910 $130,910 $134,838 $134,838 $134,838 $134,838 $134,838 $134,838
0 0 0 0 0 0 0 0
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$113,302 $113,302 $113,302 $113,302 $113,302 $113,302 $116,701 $116,701
$3,713 $3,713 $3,713 $3,713 $3,713 $3,713 $3,825 $3,825
$1,804 $1,804 $1,804 $1,804 $1,804 $1,804 $1,858 $1,858
$3,077 $3,077 $3,077 $3,077 $3,077 $3,077 $3,169 $3,169
$4,986 $4,986 $4,986 $4,986 $4,986 $4,986 $5,136 $5,136
$7,957 $7,957 $7,957 $7,957 $7,957 $7,957 $8,195 $8,195
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$134,838 $134,838 $134,838 $134,838 $134,838 $134,838 $138,883 $138,883
0 0 0 0 0 0 0 0
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$116,701 $116,701 $116,701 $116,701 $116,701 $116,701 $116,701 $116,701
$3,825 $3,825 $3,825 $3,825 $3,825 $3,825 $3,825 $3,825
$1,858 $1,858 $1,858 $1,858 $1,858 $1,858 $1,858 $1,858
$3,169 $3,169 $3,169 $3,169 $3,169 $3,169 $3,169 $3,169
$5,136 $5,136 $5,136 $5,136 $5,136 $5,136 $5,136 $5,136
$8,195 $8,195 $8,195 $8,195 $8,195 $8,195 $8,195 $8,195
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883
0 0 0 0 0 0 0 0
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
350 350 350 350 350 350 350 350
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$116,701 $116,701 $120,202 $120,202 $120,202 $120,202 $120,202 $120,202
$3,825 $3,825 $3,939 $3,939 $3,939 $3,939 $3,939 $3,939
$1,858 $1,858 $1,913 $1,913 $1,913 $1,913 $1,913 $1,913
$3,169 $3,169 $3,264 $3,264 $3,264 $3,264 $3,264 $3,264
$5,136 $5,136 $5,290 $5,290 $5,290 $5,290 $5,290 $5,290
$8,195 $8,195 $8,441 $8,441 $8,441 $8,441 $8,441 $8,441
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $143,049 $143,049 $143,049 $143,049 $143,049 $143,049
Month 55 Month 56 Month 57 Month 58 Month 59 Month 60
0 0 0 0 0 0
350 350 350 350 350 350
350 350 350 350 350 350
350 350 350 350 350 350
350 350 350 350 350 350
350 350 350 350 350 350
350 350 350 350 350 350
350 350 350 350 350 350
0 0 0 0 0 0
0 0 0 0 0 0
2,450 2,450 2,450 2,450 2,450 2,450

$38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
$4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0 $0 $0 $0 $0 $0
$1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029 $1,453,029
$1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200 $1,607,200
$8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000 $8,750,000
$5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050 $5,104,050
$8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950 $8,020,950
$11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745 $11,525,745
$14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941 $14,867,941
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$120,202 $120,202 $120,202 $120,202 $120,202 $120,202
$3,939 $3,939 $3,939 $3,939 $3,939 $3,939
$1,913 $1,913 $1,913 $1,913 $1,913 $1,913
$3,264 $3,264 $3,264 $3,264 $3,264 $3,264
$5,290 $5,290 $5,290 $5,290 $5,290 $5,290
$8,441 $8,441 $8,441 $8,441 $8,441 $8,441
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$143,049 $143,049 $143,049 $143,049 $143,049 $143,049
Number of Yearly Salary Growth In Year Growth In Growth In
Payroll Categories Yearly Salary
People Year 1 Increase 2 Year 3 Year 4
Seller Assisted Marketing Plan
Employee Edu. Formats 1 & 2
Manager Edu. Formats 3 & 4
Employer Edu. Formats 5 & 6
Marketing & Advertising
Research & Development
General & Admin
0 0 0 0 0 0
Payroll Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Seller Assisted Marketing Plan $0 $0 $0 $0 $0 $0
Employee Edu. Formats 1 & 2 $239,736 $239,736 $239,736 $239,736 $239,736 $239,736
Manager Edu. Formats 3 & 4 $200,413 $200,413 $200,413 $200,413 $200,413 $200,413
Employer Edu. Formats 5 & 6 $373,484 $373,484 $373,484 $373,484 $373,484 $373,484
Small Business Edu. Format 7 $186,742 $186,742 $186,742 $186,742 $186,742 $186,742
Large Business Edu. Format 8 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736
Packaged Edu. Formats 1/3/5/7 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736
Packaged Edu. Formats 2/4/6/8 $477,720 $477,720 $477,720 $477,720 $477,720 $477,720
Marketing & Advertising $78,933 $78,933 $78,933 $78,933 $78,933 $78,933
Research & Development $64,000 $64,000 $64,000 $64,000 $64,000 $64,000
General & Admin $36,625 $36,625 $36,625 $36,625 $36,625 $36,625
Total Payroll $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123
Growth In
Year 5
$0 $250,000 $250,000 $250,000 $250,000
$2,876,829 $1,743,634 $1,743,634 $1,743,634 $1,743,634
$2,404,950 $1,928,640 $1,928,640 $1,928,640 $1,928,640
$4,481,803 $10,185,000 $10,500,000 $10,500,000 $10,500,000
$2,240,900 $5,465,708 $6,124,860 $6,124,860 $6,124,860
$2,648,830 $7,383,857 $9,625,140 $9,625,140 $9,625,140
$2,648,829 $8,344,639 $13,830,894 $13,830,894 $13,830,894
$5,732,636 $9,277,595 $17,841,529 $17,841,529 $17,841,529
$947,200 $6,914,760 $6,914,760 $6,914,760 $6,914,760
$768,000 $29,083,300 $39,275,160 $39,275,160 $39,275,160
$439,500 $29,083,300 $39,275,160 $39,275,160 $39,275,160
Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15
0 0 0 0 0 0 0 0 0

$0 $0 $0 $0 $0 $0 $20,833 $20,833 $20,833
$239,736 $239,736 $239,736 $239,736 $239,736 $239,736 $145,303 $145,303 $145,303
$200,413 $200,413 $200,413 $200,413 $200,413 $200,413 $160,720 $160,720 $160,720
$373,484 $373,484 $373,484 $373,484 $373,484 $373,484 $848,750 $848,750 $848,750
$186,742 $186,742 $186,742 $186,742 $186,742 $186,742 $455,476 $455,476 $455,476
$220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $615,321 $615,321 $615,321
$220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $695,387 $695,387 $695,387
$477,720 $477,720 $477,720 $477,720 $477,720 $477,720 $773,133 $773,133 $773,133
$78,933 $78,933 $78,933 $78,933 $78,933 $78,933 $576,230 $576,230 $576,230
$64,000 $64,000 $64,000 $64,000 $64,000 $64,000 $2,423,608 $2,423,608 $2,423,608
$36,625 $36,625 $36,625 $36,625 $36,625 $36,625 $2,423,608 $2,423,608 $2,423,608
$2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $9,138,370 $9,138,370 $9,138,370
0 0 0 0 0 0 0 0 0

$20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833
$145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303
$160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720
$848,750 $848,750 $848,750 $848,750 $848,750 $848,750 $848,750 $848,750 $848,750
$455,476 $455,476 $455,476 $455,476 $455,476 $455,476 $455,476 $455,476 $455,476
$615,321 $615,321 $615,321 $615,321 $615,321 $615,321 $615,321 $615,321 $615,321
$695,387 $695,387 $695,387 $695,387 $695,387 $695,387 $695,387 $695,387 $695,387
$773,133 $773,133 $773,133 $773,133 $773,133 $773,133 $773,133 $773,133 $773,133
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608
$2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608
$9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370
0 0 0 0 0 0 0 0 0

$20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833
$145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303
$160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720
$875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000
$510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405
$802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095
$1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575
$1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815
0 0 0 0 0 0 0 0 0

$20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833
$145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303
$160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720
$875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000
$510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405
$802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095
$1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575
$1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815
0 0 0 0 0 0 0 0 0

$20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833
$145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303
$160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720
$875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000
$510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405
$802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095
$1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575
$1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815
0 0 0 0 0 0 0 0 0

$20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833
$145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303 $145,303
$160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720 $160,720
$875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000
$510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405 $510,405
$802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095 $802,095
$1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575 $1,152,575
$1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794 $1,486,794
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815
Expense Title Year 2 Growth Year 3 Growth Year 4 Growth
Advertising $9,398,400 $9,680,400 $9,970,800
Literature $17,816,000 $19,380,000 $19,596,000
Promotions $6,914,760 $7,122,203 $7,335,870
Other Marketing & Advertising $29,083,300 $39,275,160 $39,275,160
Research & Development $29,083,300 $39,275,160 $39,275,160
General & Admin $69,593,938 $81,593,937 $81,593,937
Month 1 Month 2 Month 3 Month 4

Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318
Direct Cost of Revenue $26,990 $28,195 $33,965 $58,684

Other Direct Costs $0 $0 $0 $0
Total Cost of Revenue $26,990 $28,195 $33,965 $58,684
Gross Profit $438,970 $1,913,305 $1,907,535 $1,932,634

Gross Margin Percentage 94.2% 98.5% 98.3% 97.1%
Operating Expenses
Advertising $500 $990 $1,500 $5,000
Literature $1,298 $1,301 $1,304 $1,307
Promotions $500 $504 $800 $5,120
Other Marketing & Advertising $7,920 $7,930 $7,940 $7,950
Research & Development $1,633 $1,637 $1,641 $1,645
General & Admin $1,572 $1,576 $1,580 $1,584
0
0
0
0
0
0
0
0
0
0
Total Payroll $2,099,123 $2,099,123 $2,099,123 $2,099,123
Payroll Taxes $881,632 $881,632 $881,632 $881,632
Payroll Benefits $0 $0 $0 $0
Total Operating Expenses $2,994,178 $2,994,693 $2,995,520 $3,003,361
Operating Profit ($2,555,208) ($1,081,388) ($1,087,985) ($1,070,727)

Operating Profit Percentage -548.4% -55.7% -56.0% -53.8%
Depreciation $1,112 $1,980 $2,848 $3,716

Earning Before Interest & Taxes ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443)
EBIT Percentage -548.6% -55.8% -56.2% -54.0%
Interest Expenses $0 $0 $0 $0
Taxes Accrued $0 $0 $0 $0
Earnings ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443)
Earnings Percentage -548.6% -55.8% -56.2% -54.0%
Accumulated Earnings before taxes ($2,842,396) ($3,925,764) ($5,016,597) ($6,091,040)

Year 5 Growth
Business Tax Rate 42%
$10,269,600
$20,556,000
$7,555,947
$39,275,160
$39,275,160 Depreciation Rate In Years 8
$81,593,937
Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11

$2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702
$90,551 $115,912 $136,222 $164,490 $195,388 $210,755 $218,074

$0 $0 $0 $0 $0 $0 $0
$90,551 $115,912 $136,222 $164,490 $195,388 $210,755 $218,074
$2,113,629 $2,562,764 $3,667,450 $2,526,840 $3,761,956 $5,507,713 $7,114,628

95.9% 95.7% 96.4% 93.9% 95.1% 96.3% 97.0%
$57,500 $94,000 $130,000 $320,000 $510,000 $670,000 $768,900

$1,310 $1,313 $1,316 $1,319 $1,322 $1,325 $1,328
$51,600 $200,000 $240,000 $280,000 $320,000 $536,000 $540,000
$79,600 $79,700 $79,801 $79,901 $80,000 $80,100 $80,200
$16,490 $16,530 $165,700 $166,100 $166,500 $166,900 $167,300
$16,490 $16,530 $165,700 $166,100 $166,500 $166,900 $167,300
$2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123

$881,632 $881,632 $881,632 $881,632 $881,632 $881,632 $881,632
$0 $0 $0 $0 $0 $0 $0
$3,203,745 $3,388,828 $3,763,272 $3,994,175 $4,225,077 $4,601,980 $4,705,783
($1,090,116) ($826,064) ($95,822) ($1,467,335) ($463,121) $905,734 $2,408,845

-49.5% -30.8% -2.5% -54.5% -11.7% 15.8% 32.9%
$4,584 $5,452 $6,320 $7,189 $8,057 $8,925 $9,793

($1,094,701) ($831,517) ($102,143) ($1,474,524) ($471,177) $896,809 $2,399,053
-49.7% -31.0% -2.7% -54.8% -11.9% 15.7% 32.7%
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
($1,094,701) ($831,517) ($102,143) ($1,474,524) ($471,177) $896,809 $2,399,053
-49.7% -31.0% -2.7% -54.8% -11.9% 15.7% 32.7%
($7,185,741) ($8,017,257) ($8,119,400) ($9,593,924) ($10,065,101) ($9,168,292) ($6,769,240)

$7,332,702 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$245,944 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910

$0 $0 $0 $0 $0 $0 $0
$245,944 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910
$7,086,758 $51,198,004 $51,198,004 $51,198,004 $51,198,004 $51,198,004 $51,198,004

96.6% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$770,800 $783,200 $783,200 $783,200 $783,200 $783,200 $783,200

$1,331 $1,484,667 $1,484,667 $1,484,667 $1,484,667 $1,484,667 $1,484,667
$584,000 $576,230 $576,230 $576,230 $576,230 $576,230 $576,230
$80,300 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608
$1,677,000 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608
$1,677,000 $5,799,495 $5,799,495 $5,799,495 $5,799,495 $5,799,495 $5,799,495
$2,099,123 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370

$881,632 $3,838,115 $3,838,115 $3,838,115 $3,838,115 $3,838,115 $3,838,115
$0 $0 $0 $0 $0 $0 $0
$7,771,186 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293
($684,428) $24,730,711 $24,730,711 $24,730,711 $24,730,711 $24,730,711 $24,730,711

-9.3% 48.2% 48.2% 48.2% 48.2% 48.2% 48.2%
$10,661 $11,529 $12,397 $13,265 $14,133 $15,001 $15,869

($695,089) $24,719,182 $24,718,314 $24,717,446 $24,716,578 $24,715,710 $24,714,842
-9.5% 48.2% 48.2% 48.2% 48.2% 48.2% 48.1%
$0 $0 $0 $0 $0 $0 $0
$0 $10,382,056 $10,381,692 $10,381,327 $10,380,963 $10,380,598 $10,380,233
($695,089) $14,337,125 $14,336,622 $14,336,119 $14,335,615 $14,335,112 $14,334,608
-9.5% 27.9% 27.9% 27.9% 27.9% 27.9% 27.9%
($7,464,328) $17,254,853 $41,973,167 $66,690,613 $91,407,191 $116,122,900 $140,837,742

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $134,838

$0 $0 $0 $0 $0 $0 $0
$130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $134,838
$51,198,004 $51,198,004 $51,198,004 $51,198,004 $51,198,004 $51,198,004 $51,194,076

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$783,200 $783,200 $783,200 $783,200 $783,200 $783,200 $806,700

$1,484,667 $1,484,667 $1,484,667 $1,484,667 $1,484,667 $1,484,667 $1,615,000
$576,230 $576,230 $576,230 $576,230 $576,230 $576,230 $593,517
$2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $3,272,930
$2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $2,423,608 $3,272,930
$5,799,495 $5,799,495 $5,799,495 $5,799,495 $5,799,495 $5,799,495 $6,799,495
$9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $9,138,370 $12,275,815

$3,838,115 $3,838,115 $3,838,115 $3,838,115 $3,838,115 $3,838,115 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $33,792,229
$24,730,711 $24,730,711 $24,730,711 $24,730,711 $24,730,711 $24,730,711 $17,401,848

48.2% 48.2% 48.2% 48.2% 48.2% 48.2% 33.9%
$16,737 $17,605 $18,473 $19,341 $20,209 $21,077 $21,945

$24,713,974 $24,713,105 $24,712,237 $24,711,369 $24,710,501 $24,709,633 $17,379,902
48.1% 48.1% 48.1% 48.1% 48.1% 48.1% 33.9%
$0 $0 $0 $0 $0 $0 $0
$10,379,869 $10,379,504 $10,379,140 $10,378,775 $10,378,411 $10,378,046 $7,299,559
$14,334,105 $14,333,601 $14,333,098 $14,332,594 $14,332,091 $14,331,587 $10,080,343
27.9% 27.9% 27.9% 27.9% 27.9% 27.9% 19.6%
$165,551,715 $190,264,821 $214,977,058 $239,688,428 $264,398,929 $289,108,562 $306,488,464

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$134,838 $134,838 $134,838 $134,838 $134,838 $134,838 $134,838

$0 $0 $0 $0 $0 $0 $0
$134,838 $134,838 $134,838 $134,838 $134,838 $134,838 $134,838
$51,194,076 $51,194,076 $51,194,076 $51,194,076 $51,194,076 $51,194,076 $51,194,076

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$806,700 $806,700 $806,700 $806,700 $806,700 $806,700 $806,700

$1,615,000 $1,615,000 $1,615,000 $1,615,000 $1,615,000 $1,615,000 $1,615,000
$593,517 $593,517 $593,517 $593,517 $593,517 $593,517 $593,517
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815

$5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229
$17,401,848 $17,401,848 $17,401,848 $17,401,848 $17,401,848 $17,401,848 $17,401,848

33.9% 33.9% 33.9% 33.9% 33.9% 33.9% 33.9%
$22,814 $23,682 $24,550 $25,418 $26,286 $27,154 $28,022

$17,379,034 $17,378,166 $17,377,298 $17,376,430 $17,375,562 $17,374,694 $17,373,826
33.9% 33.9% 33.9% 33.9% 33.9% 33.8% 33.8%
$0 $0 $0 $0 $0 $0 $0
$7,299,194 $7,298,830 $7,298,465 $7,298,101 $7,297,736 $7,297,371 $7,297,007
$10,079,840 $10,079,336 $10,078,833 $10,078,329 $10,077,826 $10,077,322 $10,076,819
19.6% 19.6% 19.6% 19.6% 19.6% 19.6% 19.6%
$323,867,498 $341,245,664 $358,622,962 $375,999,392 $393,374,954 $410,749,648 $428,123,474

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$134,838 $134,838 $134,838 $134,838 $138,883 $138,883 $138,883

$0 $0 $0 $0 $0 $0 $0
$134,838 $134,838 $134,838 $134,838 $138,883 $138,883 $138,883
$51,194,076 $51,194,076 $51,194,076 $51,194,076 $51,190,031 $51,190,031 $51,190,031

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$806,700 $806,700 $806,700 $806,700 $830,900 $830,900 $830,900

$1,615,000 $1,615,000 $1,615,000 $1,615,000 $1,633,000 $1,633,000 $1,633,000
$593,517 $593,517 $593,517 $593,517 $611,322 $611,322 $611,322
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815

$5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,852,234 $33,852,234 $33,852,234
$17,401,848 $17,401,848 $17,401,848 $17,401,848 $17,337,797 $17,337,797 $17,337,797

33.9% 33.9% 33.9% 33.9% 33.8% 33.8% 33.8%
$28,890 $29,758 $30,626 $31,494 $32,362 $33,230 $34,098

$17,372,958 $17,372,090 $17,371,222 $17,370,354 $17,305,435 $17,304,567 $17,303,699
33.8% 33.8% 33.8% 33.8% 33.7% 33.7% 33.7%
$0 $0 $0 $0 $0 $0 $0
$7,296,642 $7,296,278 $7,295,913 $7,295,548 $7,268,283 $7,267,918 $7,267,553
$10,076,315 $10,075,812 $10,075,309 $10,074,805 $10,037,152 $10,036,649 $10,036,145
19.6% 19.6% 19.6% 19.6% 19.6% 19.6% 19.6%
$445,496,432 $462,868,521 $480,239,743 $497,610,096 $514,915,531 $532,220,098 $549,523,797

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883

$0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883
$51,190,031 $51,190,031 $51,190,031 $51,190,031 $51,190,031 $51,190,031 $51,190,031

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$830,900 $830,900 $830,900 $830,900 $830,900 $830,900 $830,900

$1,633,000 $1,633,000 $1,633,000 $1,633,000 $1,633,000 $1,633,000 $1,633,000
$611,322 $611,322 $611,322 $611,322 $611,322 $611,322 $611,322
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815

$5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234
$17,337,797 $17,337,797 $17,337,797 $17,337,797 $17,337,797 $17,337,797 $17,337,797

33.8% 33.8% 33.8% 33.8% 33.8% 33.8% 33.8%
$34,966 $35,834 $36,702 $37,570 $38,439 $39,307 $40,175

$17,302,831 $17,301,963 $17,301,094 $17,300,226 $17,299,358 $17,298,490 $17,297,622
33.7% 33.7% 33.7% 33.7% 33.7% 33.7% 33.7%
$0 $0 $0 $0 $0 $0 $0
$7,267,189 $7,266,824 $7,266,460 $7,266,095 $7,265,731 $7,265,366 $7,265,001
$10,035,642 $10,035,138 $10,034,635 $10,034,131 $10,033,628 $10,033,124 $10,032,621
19.6% 19.6% 19.5% 19.5% 19.5% 19.5% 19.5%
$566,826,627 $584,128,590 $601,429,684 $618,729,910 $636,029,269 $653,327,759 $670,625,381

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$138,883 $138,883 $143,049 $143,049 $143,049 $143,049 $143,049

$0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $143,049 $143,049 $143,049 $143,049 $143,049
$51,190,031 $51,190,031 $51,185,865 $51,185,865 $51,185,865 $51,185,865 $51,185,865

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$830,900 $830,900 $855,800 $855,800 $855,800 $855,800 $855,800

$1,633,000 $1,633,000 $1,713,000 $1,713,000 $1,713,000 $1,713,000 $1,713,000
$611,322 $611,322 $629,662 $629,662 $629,662 $629,662 $629,662
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815

$5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$33,852,234 $33,852,234 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$17,337,797 $17,337,797 $17,210,391 $17,210,391 $17,210,391 $17,210,391 $17,210,391

33.8% 33.8% 33.5% 33.5% 33.5% 33.5% 33.5%
$41,043 $41,911 $42,779 $43,647 $44,515 $45,383 $46,251

$17,296,754 $17,295,886 $17,167,612 $17,166,744 $17,165,876 $17,165,008 $17,164,140
33.7% 33.7% 33.4% 33.4% 33.4% 33.4% 33.4%
$0 $0 $0 $0 $0 $0 $0
$7,264,637 $7,264,272 $7,210,397 $7,210,032 $7,209,668 $7,209,303 $7,208,939
$10,032,117 $10,031,614 $9,957,215 $9,956,711 $9,956,208 $9,955,704 $9,955,201
19.5% 19.5% 19.4% 19.4% 19.4% 19.4% 19.4%
$687,922,136 $705,218,022 $722,385,633 $739,552,377 $756,718,253 $773,883,261 $791,047,400

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$143,049 $143,049 $143,049 $143,049 $143,049 $143,049 $143,049

$0 $0 $0 $0 $0 $0 $0
$143,049 $143,049 $143,049 $143,049 $143,049 $143,049 $143,049
$51,185,865 $51,185,865 $51,185,865 $51,185,865 $51,185,865 $51,185,865 $51,185,865

99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$855,800 $855,800 $855,800 $855,800 $855,800 $855,800 $855,800

$1,713,000 $1,713,000 $1,713,000 $1,713,000 $1,713,000 $1,713,000 $1,713,000
$629,662 $629,662 $629,662 $629,662 $629,662 $629,662 $629,662
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930 $3,272,930
$6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495 $6,799,495
$12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815 $12,275,815

$5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842 $5,155,842
$0 $0 $0 $0 $0 $0 $0
$33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$17,210,391 $17,210,391 $17,210,391 $17,210,391 $17,210,391 $17,210,391 $17,210,391

33.5% 33.5% 33.5% 33.5% 33.5% 33.5% 33.5%
$47,119 $47,987 $48,855 $49,723 $50,591 $51,459 $52,327

$17,163,272 $17,162,403 $17,161,535 $17,160,667 $17,159,799 $17,158,931 $17,158,063
33.4% 33.4% 33.4% 33.4% 33.4% 33.4% 33.4%
$0 $0 $0 $0 $0 $0 $0
$7,208,574 $7,208,209 $7,207,845 $7,207,480 $7,207,116 $7,206,751 $7,206,387
$9,954,697 $9,954,194 $9,953,691 $9,953,187 $9,952,684 $9,952,180 $9,951,677
19.4% 19.4% 19.4% 19.4% 19.4% 19.4% 19.4%
$808,210,672 $825,373,075 $842,534,611 $859,695,278 $876,855,077 $894,014,009 $911,172,072

Month 1 Month 2 Month 3
Operating Activities
Cash Received
Gross Revenue $465,960 $1,941,500 $1,941,500
Total Cash Received $465,960 $1,941,500 $1,941,500
Cash Used
Cost of Revenue $26,990 $28,195 $33,965
Payroll/Taxes/Benefits $2,980,755 $2,980,755 $2,980,755
Other Operating Expenses $13,423 $13,938 $14,765
Additional Inventory $1,898 $9,090 $38,942
Interest Expenses $0 $0 $0
Taxes Accrued $0 $0 $0
Total Cash Used $3,023,066 $3,031,978 $3,068,427
Net Cash From/(Used By) Operating ($2,557,106) ($1,090,478) ($1,126,927)
Investing Activities
Cash Received
Proceeds from Current Assets $0 $0 $0
Proceeds from Property/Land $0 $0 $0
Proceeds from Equipment $0 $0 $0
Proceeds from Other LT Assets $0 $0 $0
Total Cash Received $0 $0 $0
Cash Used
Purchase of Current Assets $0 $0 $0
Purchase of Property/Land $0 $0 $0
Purchase of Equipment $83,333 $83,333 $83,333
Purchase of Other LT Assets $0 $0 $0
Total Cash Used $83,333 $83,333 $83,333
Net Cash From/(Used By) Investing ($83,333) ($83,333) ($83,333)
Financing Activities
Cash Received
Proceeds from Investors $0 $0 $0
Proceeds from Current Debt $0 $0 $0
Proceeds from Long-Term Debt $0 $0 $0
Total Cash Received $0 $0 $0
Cash Used
Dividends Paid $0 $0 $0
Repayment of Current Debt $0 $0 $0
Repayment of Long-Term Debt $0 $0 $0
Total Cash Used $0 $0 $0
Net Cash From/(Used By) Financing $0 $0 $0
Net Cash Flow ($2,640,439) ($1,173,811) ($1,210,260)

Cash Balance $107,296,531 $106,122,719 $104,912,459
Loan 1 Month 1 Month 2 Month 3

Amount $0 Balance $0 $0 $0
Rate 7.00% Interest $0 $0 $0
Term 7.0 Principle $0 $0 $0
Payment $0
Loan 2
Payment $0
Loan 3
Payment $0
New LT Debt Total Loan $0 $0 $0

Payment $0 $0 $0
Rate 9.00% Balance $0 $0 $0
Term 7.0 Interest $0 $0 $0
Principle $0 $0 $0
Current Debt
Rate 10.00%
Direct Cost of Revenue $26,990 $28,195 $33,965

Start Inventory $42,520
New Total Inventory $44,418 $53,508 $92,451
New Inventory $1,898 $9,090 $38,942
Months of Operating Expense Cash On Hand 36 35 35

$1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468

$1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468
$58,684 $90,551 $115,912 $136,222 $164,490 $195,388 $210,755

$2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755
$22,606 $222,990 $408,073 $782,517 $1,013,420 $1,244,322 $1,621,225
$50,203 $39,954 $31,996 $44,533 $48,677 $24,209 $11,530
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$3,112,248 $3,334,249 $3,536,736 $3,944,027 $4,207,341 $4,444,674 $4,824,265
($1,120,930) ($1,130,070) ($858,061) ($140,356) ($1,516,012) ($487,330) $894,203
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
($1,204,263) ($1,213,403) ($941,394) ($223,689) ($1,599,345) ($570,663) $810,870

$103,708,196 $102,494,792 $101,553,399 $101,329,710 $99,730,364 $99,159,701 $99,970,571

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$58,684 $90,551 $115,912 $136,222 $164,490 $195,388 $210,755
$142,654 $182,608 $214,604 $259,137 $307,814 $332,023 $343,553

$50,203 $39,954 $31,996 $44,533 $48,677 $24,209 $11,530
35 32 30 27 25 23 22
$7,332,702 $7,332,702 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$7,332,702 $7,332,702 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$218,074 $245,944 $130,910 $130,910 $130,910 $130,910 $130,910

$2,980,755 $2,980,755 $12,976,485 $12,976,485 $12,976,485 $12,976,485 $12,976,485
$1,725,028 $4,790,431 $13,490,808 $13,490,808 $13,490,808 $13,490,808 $13,490,808
$43,906 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $10,382,056 $10,381,692 $10,381,327 $10,380,963 $10,380,598
$4,967,763 $8,017,130 $36,980,260 $36,979,895 $36,979,531 $36,979,166 $36,978,801
$2,364,939 ($684,428) $14,348,654 $14,349,019 $14,349,383 $14,349,748 $14,350,113
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$2,281,606 ($767,761) $14,265,321 $14,265,686 $14,266,050 $14,266,415 $14,266,779

$102,252,176 $101,484,415 $115,749,736 $130,015,422 $144,281,472 $158,547,887 $172,814,666

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$218,074 $245,944 $130,910 $130,910 $130,910 $130,910 $130,910
$387,460 $206,236 $206,236 $206,236 $206,236 $206,236 $206,236

$43,906 $0 $0 $0 $0 $0 $0
22 13 4 5 5 6 7
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910

$12,976,485 $12,976,485 $12,976,485 $12,976,485 $12,976,485 $12,976,485 $12,976,485
$13,490,808 $13,490,808 $13,490,808 $13,490,808 $13,490,808 $13,490,808 $13,490,808
$0 $0 $0 $0 $0 $0 $6,187
$0 $0 $0 $0 $0 $0 $0
$10,380,233 $10,379,869 $10,379,504 $10,379,140 $10,378,775 $10,378,411 $10,378,046
$36,978,437 $36,978,072 $36,977,708 $36,977,343 $36,976,978 $36,976,614 $36,982,436
$14,350,477 $14,350,842 $14,351,206 $14,351,571 $14,351,936 $14,352,300 $14,346,478
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$14,267,144 $14,267,508 $14,267,873 $14,268,238 $14,268,602 $14,268,967 $14,263,144

$187,081,810 $201,349,318 $215,617,191 $229,885,429 $244,154,031 $258,422,998 $272,686,142

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$130,910 $130,910 $130,910 $130,910 $130,910 $130,910 $130,910
$206,236 $206,236 $206,236 $206,236 $206,236 $206,236 $212,423

$0 $0 $0 $0 $0 $0 $6,187
7 8 8 9 9 10 10
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$134,838 $134,838 $134,838 $134,838 $134,838 $134,838 $134,838

$17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657
$16,360,572 $16,360,572 $16,360,572 $16,360,572 $16,360,572 $16,360,572 $16,360,572
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$7,299,559 $7,299,194 $7,298,830 $7,298,465 $7,298,101 $7,297,736 $7,297,371
$41,226,625 $41,226,261 $41,225,896 $41,225,531 $41,225,167 $41,224,802 $41,224,438
$10,102,289 $10,102,653 $10,103,018 $10,103,383 $10,103,747 $10,104,112 $10,104,476
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$10,018,955 $10,019,320 $10,019,685 $10,020,049 $10,020,414 $10,020,778 $10,021,143

$282,705,098 $292,724,418 $302,744,102 $312,764,152 $322,784,565 $332,805,344 $342,826,487

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$134,838 $134,838 $134,838 $134,838 $134,838 $134,838 $134,838
$212,423 $212,423 $212,423 $212,423 $212,423 $212,423 $212,423

$0 $0 $0 $0 $0 $0 $0
8 9 9 9 10 10 10
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$134,838 $134,838 $134,838 $134,838 $134,838 $138,883 $138,883

$17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657
$16,360,572 $16,360,572 $16,360,572 $16,360,572 $16,360,572 $16,420,577 $16,420,577
$0 $0 $0 $0 $6,373 $0 $0
$0 $0 $0 $0 $0 $0 $0
$7,297,007 $7,296,642 $7,296,278 $7,295,913 $7,295,548 $7,268,283 $7,267,918
$41,224,073 $41,223,709 $41,223,344 $41,222,979 $41,228,988 $41,259,400 $41,259,035
$10,104,841 $10,105,205 $10,105,570 $10,105,935 $10,099,926 $10,069,514 $10,069,879
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$10,021,508 $10,021,872 $10,022,237 $10,022,601 $10,016,593 $9,986,181 $9,986,546

$352,847,994 $362,869,866 $372,892,103 $382,914,704 $392,931,297 $402,917,478 $412,904,024

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$134,838 $134,838 $134,838 $134,838 $134,838 $138,883 $138,883
$212,423 $212,423 $212,423 $212,423 $218,796 $218,796 $218,796

$0 $0 $0 $0 $6,373 $0 $0
10 11 11 11 12 12 12
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883

$17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657
$16,420,577 $16,420,577 $16,420,577 $16,420,577 $16,420,577 $16,420,577 $16,420,577
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$7,267,553 $7,267,189 $7,266,824 $7,266,460 $7,266,095 $7,265,731 $7,265,366
$41,258,671 $41,258,306 $41,257,941 $41,257,577 $41,257,212 $41,256,848 $41,256,483
$10,070,243 $10,070,608 $10,070,973 $10,071,337 $10,071,702 $10,072,066 $10,072,431
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$9,986,910 $9,987,275 $9,987,639 $9,988,004 $9,988,368 $9,988,733 $9,989,098

$422,890,934 $432,878,208 $442,865,848 $452,853,852 $462,842,220 $472,830,953 $482,820,051

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $138,883 $138,883 $138,883 $138,883 $138,883
$218,796 $218,796 $218,796 $218,796 $218,796 $218,796 $218,796

$0 $0 $0 $0 $0 $0 $0
12 13 13 13 14 14 14
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$138,883 $138,883 $138,883 $143,049 $143,049 $143,049 $143,049

$17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657
$16,420,577 $16,420,577 $16,420,577 $16,543,817 $16,543,817 $16,543,817 $16,543,817
$0 $0 $6,564 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$7,265,001 $7,264,637 $7,264,272 $7,210,397 $7,210,032 $7,209,668 $7,209,303
$41,256,118 $41,255,754 $41,261,953 $41,328,920 $41,328,556 $41,328,191 $41,327,827
$10,072,796 $10,073,160 $10,066,961 $9,999,994 $10,000,358 $10,000,723 $10,001,087
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$9,989,462 $9,989,827 $9,983,628 $9,916,660 $9,917,025 $9,917,390 $9,917,754

$492,809,513 $502,799,340 $512,782,967 $522,699,628 $532,616,653 $542,534,042 $552,451,796

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$138,883 $138,883 $138,883 $143,049 $143,049 $143,049 $143,049
$218,796 $218,796 $225,360 $225,360 $225,360 $225,360 $225,360

$0 $0 $6,564 $0 $0 $0 $0
15 15 15 15 16 16 16
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914
$143,049 $143,049 $143,049 $143,049 $143,049 $143,049 $143,049

$17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657 $17,431,657
$16,543,817 $16,543,817 $16,543,817 $16,543,817 $16,543,817 $16,543,817 $16,543,817
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$7,208,939 $7,208,574 $7,208,209 $7,207,845 $7,207,480 $7,207,116 $7,206,751
$41,327,462 $41,327,097 $41,326,733 $41,326,368 $41,326,004 $41,325,639 $41,325,274
$10,001,452 $10,001,817 $10,002,181 $10,002,546 $10,002,910 $10,003,275 $10,003,640
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$9,918,119 $9,918,483 $9,918,848 $9,919,212 $9,919,577 $9,919,942 $9,920,306

$562,369,915 $572,288,398 $582,207,246 $592,126,459 $602,046,036 $611,965,977 $621,886,283

$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$143,049 $143,049 $143,049 $143,049 $143,049 $143,049 $143,049
$225,360 $225,360 $225,360 $225,360 $225,360 $225,360 $225,360

$0 $0 $0 $0 $0 $0 $0
17 17 17 17 18 18 18
Month 60
$51,328,914
$51,328,914
$143,049
$17,431,657
$16,543,817
$0
$0
$7,206,387
$41,324,910
$10,004,004
$0
$0
$0
$0
$0
$0
$0
$83,333
$0
$83,333
($83,333)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$9,920,671
$631,806,954
Month 60
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$143,049 $143,049
$225,360
$0
19
Assets
Current Assets
Cash $107,296,531 $106,122,719 $104,912,459 $103,708,196
Inventory $44,418 $53,508 $92,451 $142,654
Other Current Assets $0 $0 $0 $0
Total Current Assets $107,340,949 $106,176,228 $105,004,910 $103,850,850
Long-Term Assets
Property $0 $0 $0 $0
Equipment $106,767 $190,101 $273,434 $356,767
Other Long-Term Assets $0 $0 $0 $0
Accumulated Depreciation ($1,112) ($3,092) ($5,941) ($9,657)
Total Long-Term Assets $105,655 $187,008 $267,493 $347,110
Total Assets $107,446,604 $106,363,236 $105,272,403 $104,197,960
Liabilities
Current Liabilities
Current Debt $0 $0 $0 $0
Total Current Liabilities $0 $0 $0 $0
Long-Term Liabilities
Long-Term Debt $0 $0 $0 $0
Long-Term Debt 2 $0 $0 $0 $0
Long-Term Debt 3 $0 $0 $0 $0
New Long-Term Debt $0 $0 $0 $0
Total Long-Term Liabilities $0 $0 $0 $0
Total Liabilities $0 $0 $0 $0
Shareholders' Equity
Paid-in Capital
Owner $289,000 $289,000 $289,000 $289,000
Investor $110,000,000 $110,000,000 $110,000,000 $110,000,000
Investor B $0 $0 $0 $0
New Paid-in Capital $0 $0 $0 $0
Total Paid-in Capital $110,289,000 $110,289,000 $110,289,000 $110,289,000
Retained Earnings
Previous Retained Earnings ($286,076) ($2,842,396) ($3,925,764) ($5,016,597)
Current Earnings ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443)
Total Retained Earnings ($2,842,396) ($3,925,764) ($5,016,597) ($6,091,040)
Total Shareholders' Equity $107,446,604 $106,363,236 $105,272,403 $104,197,960
Total Liabilities & Equity $107,446,604 $106,363,236 $105,272,403 $104,197,960
Check $0 $0 $0 $0
$102,494,792 $101,553,399 $101,329,710 $99,730,364 $99,159,701 $99,970,571 $102,252,176

$182,608 $214,604 $259,137 $307,814 $332,023 $343,553 $387,460
$0 $0 $0 $0 $0 $0 $0
$102,677,400 $101,768,002 $101,588,847 $100,038,178 $99,491,724 $100,314,124 $102,639,636
$0 $0 $0 $0 $0 $0 $0
$440,101 $523,434 $606,767 $690,101 $773,434 $856,767 $940,101
$0 $0 $0 $0 $0 $0 $0
($14,241) ($19,694) ($26,014) ($33,203) ($41,259) ($50,184) ($59,977)
$425,859 $503,740 $580,753 $656,898 $732,175 $806,583 $880,124
$103,103,259 $102,271,743 $102,169,600 $100,695,076 $100,223,899 $101,120,708 $103,519,760
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
($6,091,040) ($7,185,741) ($8,017,257) ($8,119,400) ($9,593,924) ($10,065,101) ($9,168,292)

($1,094,701) ($831,517) ($102,143) ($1,474,524) ($471,177) $896,809 $2,399,053
($7,185,741) ($8,017,257) ($8,119,400) ($9,593,924) ($10,065,101) ($9,168,292) ($6,769,240)
$103,103,259 $102,271,743 $102,169,600 $100,695,076 $100,223,899 $101,120,708 $103,519,760
$103,103,259 $102,271,743 $102,169,600 $100,695,076 $100,223,899 $101,120,708 $103,519,760
$0 $0 $0 $0 $0 $0 $0
$101,484,415 $115,749,736 $130,015,422 $144,281,472 $158,547,887 $172,814,666 $187,081,810

$387,460 $387,460 $387,460 $387,460 $387,460 $387,460 $387,460
$0 $0 $0 $0 $0 $0 $0
$101,871,875 $116,137,196 $130,402,882 $144,668,932 $158,935,347 $173,202,126 $187,469,270
$0 $0 $0 $0 $0 $0 $0
$1,023,434 $1,106,767 $1,190,101 $1,273,434 $1,356,767 $1,440,101 $1,523,434
$0 $0 $0 $0 $0 $0 $0
($70,638) ($82,166) ($94,563) ($107,828) ($121,961) ($136,962) ($152,831)
$952,796 $1,024,601 $1,095,537 $1,165,606 $1,234,806 $1,303,138 $1,370,603
$102,824,672 $117,161,797 $131,498,419 $145,834,538 $160,170,153 $174,505,264 $188,839,872
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
($6,769,240) ($7,464,328) $6,872,797 $21,209,419 $35,545,538 $49,881,153 $64,216,264

($695,089) $14,337,125 $14,336,622 $14,336,119 $14,335,615 $14,335,112 $14,334,608
($7,464,328) $6,872,797 $21,209,419 $35,545,538 $49,881,153 $64,216,264 $78,550,872
$102,824,672 $117,161,797 $131,498,419 $145,834,538 $160,170,153 $174,505,264 $188,839,872
$102,824,672 $117,161,797 $131,498,419 $145,834,538 $160,170,153 $174,505,264 $188,839,872
$0 $0 $0 $0 $0 $0 $0
$201,349,318 $215,617,191 $229,885,429 $244,154,031 $258,422,998 $272,686,142 $282,705,098

$387,460 $387,460 $387,460 $387,460 $387,460 $393,647 $393,647
$0 $0 $0 $0 $0 $0 $0
$201,736,778 $216,004,651 $230,272,889 $244,541,491 $258,810,458 $273,079,789 $283,098,745
$0 $0 $0 $0 $0 $0 $0
$1,606,767 $1,690,101 $1,773,434 $1,856,767 $1,940,101 $2,023,434 $2,106,767
$0 $0 $0 $0 $0 $0 $0
($169,569) ($187,174) ($205,647) ($224,988) ($245,198) ($266,275) ($288,221)
$1,437,199 $1,502,927 $1,567,787 $1,631,779 $1,694,903 $1,757,159 $1,818,547
$203,173,977 $217,507,578 $231,840,676 $246,173,270 $260,505,361 $274,836,948 $284,917,291
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$78,550,872 $92,884,977 $107,218,578 $121,551,676 $135,884,270 $150,216,361 $164,547,948

$14,334,105 $14,333,601 $14,333,098 $14,332,594 $14,332,091 $14,331,587 $10,080,343
$92,884,977 $107,218,578 $121,551,676 $135,884,270 $150,216,361 $164,547,948 $174,628,291
$203,173,977 $217,507,578 $231,840,676 $246,173,270 $260,505,361 $274,836,948 $284,917,291
$203,173,977 $217,507,578 $231,840,676 $246,173,270 $260,505,361 $274,836,948 $284,917,291
$0 $0 $0 $0 $0 $0 $0
$292,724,418 $302,744,102 $312,764,152 $322,784,565 $332,805,344 $342,826,487 $352,847,994

$393,647 $393,647 $393,647 $393,647 $393,647 $393,647 $393,647
$0 $0 $0 $0 $0 $0 $0
$293,118,065 $303,137,749 $313,157,798 $323,178,212 $333,198,990 $343,220,133 $353,241,641
$0 $0 $0 $0 $0 $0 $0
$2,190,101 $2,273,434 $2,356,767 $2,440,101 $2,523,434 $2,606,767 $2,690,101
$0 $0 $0 $0 $0 $0 $0
($311,034) ($334,716) ($359,265) ($384,683) ($410,969) ($438,123) ($466,145)
$1,879,066 $1,938,718 $1,997,502 $2,055,417 $2,112,465 $2,168,645 $2,223,956
$294,997,131 $305,076,467 $315,155,300 $325,233,630 $335,311,456 $345,388,778 $355,465,597
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$174,628,291 $184,708,131 $194,787,467 $204,866,300 $214,944,630 $225,022,456 $235,099,778

$10,079,840 $10,079,336 $10,078,833 $10,078,329 $10,077,826 $10,077,322 $10,076,819
$184,708,131 $194,787,467 $204,866,300 $214,944,630 $225,022,456 $235,099,778 $245,176,597
$294,997,131 $305,076,467 $315,155,300 $325,233,630 $335,311,456 $345,388,778 $355,465,597
$294,997,131 $305,076,467 $315,155,300 $325,233,630 $335,311,456 $345,388,778 $355,465,597
$0 $0 $0 $0 $0 $0 $0
$362,869,866 $372,892,103 $382,914,704 $392,931,297 $402,917,478 $412,904,024 $422,890,934

$393,647 $393,647 $393,647 $400,020 $400,020 $400,020 $400,020
$0 $0 $0 $0 $0 $0 $0
$363,263,513 $373,285,750 $383,308,351 $393,331,317 $403,317,498 $413,304,043 $423,290,953
$0 $0 $0 $0 $0 $0 $0
$2,773,434 $2,856,767 $2,940,101 $3,023,434 $3,106,767 $3,190,101 $3,273,434
$0 $0 $0 $0 $0 $0 $0
($495,035) ($524,793) ($555,419) ($586,913) ($619,275) ($652,505) ($686,603)
$2,278,399 $2,331,975 $2,384,682 $2,436,521 $2,487,492 $2,537,596 $2,586,831
$365,541,912 $375,617,724 $385,693,033 $395,767,838 $405,804,990 $415,841,639 $425,877,784
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$245,176,597 $255,252,912 $265,328,724 $275,404,033 $285,478,838 $295,515,990 $305,552,639

$10,076,315 $10,075,812 $10,075,309 $10,074,805 $10,037,152 $10,036,649 $10,036,145
$255,252,912 $265,328,724 $275,404,033 $285,478,838 $295,515,990 $305,552,639 $315,588,784
$365,541,912 $375,617,724 $385,693,033 $395,767,838 $405,804,990 $415,841,639 $425,877,784
$365,541,912 $375,617,724 $385,693,033 $395,767,838 $405,804,990 $415,841,639 $425,877,784
$0 $0 $0 $0 $0 $0 $0
$432,878,208 $442,865,848 $452,853,852 $462,842,220 $472,830,953 $482,820,051 $492,809,513

$400,020 $400,020 $400,020 $400,020 $400,020 $400,020 $400,020
$0 $0 $0 $0 $0 $0 $0
$433,278,228 $443,265,867 $453,253,871 $463,242,240 $473,230,973 $483,220,071 $493,209,533
$0 $0 $0 $0 $0 $0 $0
$3,356,767 $3,440,101 $3,523,434 $3,606,767 $3,690,101 $3,773,434 $3,856,767
$0 $0 $0 $0 $0 $0 $0
($721,570) ($757,404) ($794,107) ($831,677) ($870,116) ($909,422) ($949,597)
$2,635,198 $2,682,697 $2,729,327 $2,775,090 $2,819,985 $2,864,012 $2,907,170
$435,913,426 $445,948,564 $455,983,199 $466,017,330 $476,050,958 $486,084,082 $496,116,703
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$315,588,784 $325,624,426 $335,659,564 $345,694,199 $355,728,330 $365,761,958 $375,795,082

$10,035,642 $10,035,138 $10,034,635 $10,034,131 $10,033,628 $10,033,124 $10,032,621
$325,624,426 $335,659,564 $345,694,199 $355,728,330 $365,761,958 $375,795,082 $385,827,703
$435,913,426 $445,948,564 $455,983,199 $466,017,330 $476,050,958 $486,084,082 $496,116,703
$435,913,426 $445,948,564 $455,983,199 $466,017,330 $476,050,958 $486,084,082 $496,116,703
$0 $0 $0 $0 $0 $0 $0
$502,799,340 $512,782,967 $522,699,628 $532,616,653 $542,534,042 $552,451,796 $562,369,915

$400,020 $406,584 $406,584 $406,584 $406,584 $406,584 $406,584
$0 $0 $0 $0 $0 $0 $0
$503,199,360 $513,189,551 $523,106,211 $533,023,236 $542,940,626 $552,858,380 $562,776,499
$0 $0 $0 $0 $0 $0 $0
$3,940,101 $4,023,434 $4,106,767 $4,190,101 $4,273,434 $4,356,767 $4,440,101
$0 $0 $0 $0 $0 $0 $0
($990,640) ($1,032,550) ($1,075,329) ($1,118,976) ($1,163,491) ($1,208,874) ($1,255,125)
$2,949,461 $2,990,884 $3,031,438 $3,071,125 $3,109,943 $3,147,893 $3,184,976
$506,148,821 $516,180,435 $526,137,649 $536,094,361 $546,050,569 $556,006,273 $565,961,474
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$385,827,703 $395,859,821 $405,891,435 $415,848,649 $425,805,361 $435,761,569 $445,717,273

$10,032,117 $10,031,614 $9,957,215 $9,956,711 $9,956,208 $9,955,704 $9,955,201
$395,859,821 $405,891,435 $415,848,649 $425,805,361 $435,761,569 $445,717,273 $455,672,474
$506,148,821 $516,180,435 $526,137,649 $536,094,361 $546,050,569 $556,006,273 $565,961,474
$506,148,821 $516,180,435 $526,137,649 $536,094,361 $546,050,569 $556,006,273 $565,961,474
$0 $0 $0 $0 $0 $0 $0
$572,288,398 $582,207,246 $592,126,459 $602,046,036 $611,965,977 $621,886,283 $631,806,954

$406,584 $406,584 $406,584 $406,584 $406,584 $406,584 $406,584
$0 $0 $0 $0 $0 $0 $0
$572,694,982 $582,613,830 $592,533,042 $602,452,619 $612,372,561 $622,292,867 $632,213,538
$0 $0 $0 $0 $0 $0 $0
$4,523,434 $4,606,767 $4,690,101 $4,773,434 $4,856,767 $4,940,101 $5,023,434
$0 $0 $0 $0 $0 $0 $0
($1,302,244) ($1,350,231) ($1,399,087) ($1,448,810) ($1,499,401) ($1,550,860) ($1,603,188)
$3,221,190 $3,256,536 $3,291,014 $3,324,624 $3,357,366 $3,389,240 $3,420,246
$575,916,172 $585,870,366 $595,824,056 $605,777,243 $615,729,927 $625,682,107 $635,633,784
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
$455,672,474 $465,627,172 $475,581,366 $485,535,056 $495,488,243 $505,440,927 $515,393,107

$9,954,697 $9,954,194 $9,953,691 $9,953,187 $9,952,684 $9,952,180 $9,951,677
$465,627,172 $475,581,366 $485,535,056 $495,488,243 $505,440,927 $515,393,107 $525,344,784
$575,916,172 $585,870,366 $595,824,056 $605,777,243 $615,729,927 $625,682,107 $635,633,784
$575,916,172 $585,870,366 $595,824,056 $605,777,243 $615,729,927 $625,682,107 $635,633,784
$0 $0 $0 $0 $0 $0 $0
1 2 3 4
Operating Break-Even
Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318
Accumulated Revenue $465,960 $2,407,460 $4,348,960 $6,340,278
Operating Expenses & COG & Pre-Op $3,307,244 $3,022,888 $3,029,485 $3,062,045
Accumulated Expenses $3,307,244 $6,330,132 $9,359,616 $12,421,661
Difference ($2,841,284) ($3,922,672) ($5,010,656) ($6,081,383)
Break-Even
Investment Cash Flow Break-Even

Cash In Excluding Investment $465,960 $1,941,500 $1,941,500 $1,991,318
Accumulated Cash Received $465,960 $2,407,460 $4,348,960 $6,340,278
All Costs $3,458,429 $3,115,311 $3,151,760 $3,195,581
Accumulated Cash Used $3,458,429 $6,573,741 $9,725,501 $12,921,082
Difference ($2,992,469) ($4,166,281) ($5,376,541) ($6,580,804)
5 6 7 8 9 10 11
$2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702

$8,544,458 $11,223,133 $15,026,805 $17,718,134 $21,675,478 $27,393,946 $34,726,648
$3,294,296 $3,504,740 $3,899,494 $4,158,665 $4,420,465 $4,812,735 $4,923,857
$15,715,957 $19,220,697 $23,120,190 $27,278,855 $31,699,320 $36,512,055 $41,435,912
($7,171,499) ($7,997,564) ($8,093,386) ($9,560,721) ($10,023,842) ($9,118,108) ($6,709,263)
$2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702

$8,544,458 $11,223,133 $15,026,805 $17,718,134 $21,675,478 $27,393,946 $34,726,648
$3,417,583 $3,620,069 $4,027,360 $4,290,675 $4,528,007 $4,907,598 $5,051,096
$16,338,665 $19,958,735 $23,986,095 $28,276,770 $32,804,777 $37,712,376 $42,763,472
($7,794,208) ($8,735,601) ($8,959,290) ($10,558,636) ($11,129,299) ($10,318,429) ($8,036,824)
12 13 14 15 16 17 18
$7,332,702 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$42,059,350 $93,388,264 $144,717,178 $196,046,092 $247,375,006 $298,703,920 $350,032,834
$8,017,130 $26,598,203 $26,598,203 $26,598,203 $26,598,203 $26,598,203 $26,598,203
$49,453,041 $76,051,245 $102,649,448 $129,247,651 $155,845,855 $182,444,058 $209,042,261
($7,393,691) $17,337,020 $42,067,730 $66,798,441 $91,529,152 $116,259,863 $140,990,573
13 14 15 16 17 18
$7,332,702 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$42,059,350 $93,388,264 $144,717,178 $196,046,092 $247,375,006 $298,703,920 $350,032,834
$8,100,463 $37,063,593 $37,063,228 $37,062,864 $37,062,499 $37,062,135 $37,061,770
$50,863,935 $87,927,528 $124,990,757 $162,053,620 $199,116,120 $236,178,254 $273,240,025
($8,804,585) $5,460,736 $19,726,422 $33,992,472 $48,258,887 $62,525,666 $76,792,810
13 14 15 16 17 18
19 20 21 22 23 24 25
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$401,361,748 $452,690,662 $504,019,576 $555,348,490 $606,677,404 $658,006,318 $709,335,232
$26,598,203 $26,598,203 $26,598,203 $26,598,203 $26,598,203 $26,598,203 $33,927,066
$235,640,465 $262,238,668 $288,836,871 $315,435,075 $342,033,278 $368,631,481 $402,558,548
$165,721,284 $190,451,995 $215,182,705 $239,913,416 $264,644,127 $289,374,837 $306,776,685
19 20 21 22 23 24 25
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$401,361,748 $452,690,662 $504,019,576 $555,348,490 $606,677,404 $658,006,318 $709,335,232
$37,061,406 $37,061,041 $37,060,676 $37,060,312 $37,059,947 $37,065,770 $41,309,959
$310,301,430 $347,362,471 $384,423,147 $421,483,459 $458,543,406 $495,609,176 $536,919,135
$91,060,318 $105,328,191 $119,596,429 $133,865,031 $148,133,998 $162,397,142 $172,416,098
19 20 21 22 23 24 25
26 27 28 29 30 31 32
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$760,664,146 $811,993,060 $863,321,974 $914,650,888 $965,979,802 $1,017,308,716 $1,068,637,630
$33,927,066 $33,927,066 $33,927,066 $33,927,066 $33,927,066 $33,927,066 $33,927,066
$436,485,614 $470,412,680 $504,339,747 $538,266,813 $572,193,879 $606,120,946 $640,048,012
$324,178,533 $341,580,380 $358,982,228 $376,384,076 $393,785,923 $411,187,771 $428,589,619
26 27 28 29 30 31 32
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$760,664,146 $811,993,060 $863,321,974 $914,650,888 $965,979,802 $1,017,308,716 $1,068,637,630
$41,309,594 $41,309,229 $41,308,865 $41,308,500 $41,308,136 $41,307,771 $41,307,406
$578,228,729 $619,537,958 $660,846,823 $702,155,323 $743,463,459 $784,771,230 $826,078,636
$182,435,418 $192,455,102 $202,475,152 $212,495,565 $222,516,344 $232,537,487 $242,558,994
26 27 28 29 30 31 32
33 34 35 36 37 38 39
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,119,966,544 $1,171,295,458 $1,222,624,372 $1,273,953,286 $1,325,282,200 $1,376,611,114 $1,427,940,028
$33,927,066 $33,927,066 $33,927,066 $33,927,066 $33,991,117 $33,991,117 $33,991,117
$673,975,078 $707,902,145 $741,829,211 $775,756,277 $809,747,394 $843,738,511 $877,729,629
$445,991,466 $463,393,314 $480,795,162 $498,197,009 $515,534,806 $532,872,603 $550,210,400
33 34 35 36 37 38 39
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,119,966,544 $1,171,295,458 $1,222,624,372 $1,273,953,286 $1,325,282,200 $1,376,611,114 $1,427,940,028
$41,307,042 $41,306,677 $41,306,313 $41,312,321 $41,342,733 $41,342,368 $41,342,004
$867,385,678 $908,692,356 $949,998,668 $991,310,989 $1,032,653,722 $1,073,996,091 $1,115,338,095
$252,580,866 $262,603,103 $272,625,704 $282,642,297 $292,628,478 $302,615,024 $312,601,934
33 34 35 36 37 38 39
40 41 42 43 44 45 46
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,479,268,942 $1,530,597,856 $1,581,926,770 $1,633,255,684 $1,684,584,598 $1,735,913,512 $1,787,242,426
$33,991,117 $33,991,117 $33,991,117 $33,991,117 $33,991,117 $33,991,117 $33,991,117
$911,720,746 $945,711,863 $979,702,980 $1,013,694,097 $1,047,685,214 $1,081,676,331 $1,115,667,448
$567,548,197 $584,885,994 $602,223,791 $619,561,587 $636,899,384 $654,237,181 $671,574,978
40 41 42 43 44 45 46
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,479,268,942 $1,530,597,856 $1,581,926,770 $1,633,255,684 $1,684,584,598 $1,735,913,512 $1,787,242,426
$41,341,639 $41,341,275 $41,340,910 $41,340,546 $41,340,181 $41,339,816 $41,339,452
$1,156,679,734 $1,198,021,009 $1,239,361,919 $1,280,702,464 $1,322,042,645 $1,363,382,462 $1,404,721,913
$322,589,208 $332,576,848 $342,564,852 $352,553,220 $362,541,953 $372,531,051 $382,520,513
40 41 42 43 44 45 46
47 48 49 50 51 52 53
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,838,571,340 $1,889,900,254 $1,941,229,168 $1,992,558,082 $2,043,886,996 $2,095,215,910 $2,146,544,824
$33,991,117 $33,991,117 $34,118,523 $34,118,523 $34,118,523 $34,118,523 $34,118,523
$1,149,658,565 $1,183,649,682 $1,217,768,206 $1,251,886,729 $1,286,005,253 $1,320,123,776 $1,354,242,299
$688,912,775 $706,250,572 $723,460,963 $740,671,353 $757,881,744 $775,092,135 $792,302,525
47 48 49 50 51 52 53
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$1,838,571,340 $1,889,900,254 $1,941,229,168 $1,992,558,082 $2,043,886,996 $2,095,215,910 $2,146,544,824
$41,339,087 $41,345,286 $41,412,254 $41,411,889 $41,411,524 $41,411,160 $41,410,795
$1,446,061,001 $1,487,406,287 $1,528,818,541 $1,570,230,430 $1,611,641,954 $1,653,053,114 $1,694,463,909
$392,510,340 $402,493,967 $412,410,628 $422,327,653 $432,245,042 $442,162,796 $452,080,915
47 48 49 50 51 52 53
54 55 56 57 58 59 60
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$2,197,873,738 $2,249,202,652 $2,300,531,566 $2,351,860,480 $2,403,189,394 $2,454,518,308 $2,505,847,222
$34,118,523 $34,118,523 $34,118,523 $34,118,523 $34,118,523 $34,118,523 $34,118,523
$1,388,360,823 $1,422,479,346 $1,456,597,869 $1,490,716,393 $1,524,834,916 $1,558,953,439 $1,593,071,963
$809,512,916 $826,723,307 $843,933,697 $861,144,088 $878,354,478 $895,564,869 $912,775,260
54 55 56 57 58 59 60
$51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914 $51,328,914

$2,197,873,738 $2,249,202,652 $2,300,531,566 $2,351,860,480 $2,403,189,394 $2,454,518,308 $2,505,847,222
$41,410,431 $41,410,066 $41,409,702 $41,409,337 $41,408,972 $41,408,608 $41,408,243
$1,735,874,340 $1,777,284,406 $1,818,694,108 $1,860,103,445 $1,901,512,417 $1,942,921,025 $1,984,329,268
$461,999,398 $471,918,246 $481,837,459 $491,757,036 $501,676,977 $511,597,283 $521,517,954
54 55 56 57 58 59 60
Worst Case
10%
Gross Revenue $419,364 $1,747,350 $1,747,350 $1,792,186
Gross Profit $395,073 $1,721,975 $1,716,782 $1,739,371
Operating Profit ($2,599,105) ($1,272,718) ($1,278,738) ($1,263,990)
Earning Before Interest & Taxes ($2,600,217) ($1,274,698) ($1,281,587) ($1,267,706)
EBIT Percentage -620.0% -73.0% -73.3% -70.7%
Earnings ($2,600,217) ($1,274,698) ($1,281,587) ($1,267,706)
Net Cash Flow ($2,684,336) ($1,365,142) ($1,401,014) ($1,397,527)
Cash Balance $107,252,634 $105,887,492 $104,486,478 $103,088,951
Accum EBT ($2,886,293) ($4,160,991) ($5,442,578) ($6,710,284)
Best Case
10%
Gross Revenue $512,556 $2,135,650 $2,135,650 $2,190,450
Gross Profit $482,867 $2,104,636 $2,098,289 $2,125,898
Operating Profit ($2,511,311) ($890,057) ($897,231) ($877,463)
Earning Before Interest & Taxes ($2,512,423) ($892,037) ($900,080) ($881,180)
EBIT Percentage -490.2% -41.8% -42.1% -40.2%
Earnings ($2,512,423) ($892,037) ($900,080) ($881,180)
Net Cash Flow ($2,596,542) ($982,481) ($1,019,507) ($1,011,000)
Cash Balance $107,340,428 $106,357,947 $105,338,440 $104,327,440
Accum EBT ($2,798,499) ($3,690,536) ($4,590,616) ($5,471,796)
Check earnings ($43,897) ($191,331) ($190,754) ($193,263)

$43,897 $191,331 $190,754 $193,263
$0 $0 $0 $0
Check Cash Flow ($43,897) ($191,331) ($190,754) ($193,263)

$43,897 $191,331 $190,754 $193,263
$0 $0 $0 $0
$1,983,762 $2,410,808 $3,423,304 $2,422,197 $3,561,610 $5,146,622 $6,599,432

$81,496 $104,321 $122,600 $148,041 $175,849 $189,680 $196,267
$1,902,266 $2,306,487 $3,300,705 $2,274,156 $3,385,760 $4,956,942 $6,403,165
95.9% 95.7% 96.4% 93.9% 95.1% 96.3% 97.0%
$3,203,745 $3,388,828 $3,763,272 $3,994,175 $4,225,077 $4,601,980 $4,705,783
($1,301,479) ($1,082,341) ($462,567) ($1,720,019) ($839,316) $354,962 $1,697,382
-65.6% -44.9% -13.5% -71.0% -23.6% 6.9% 25.7%
($1,306,064) ($1,087,793) ($468,888) ($1,727,208) ($847,373) $346,038 $1,687,590
-65.8% -45.1% -13.7% -71.3% -23.8% 6.7% 25.6%
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
($1,306,064) ($1,087,793) ($468,888) ($1,727,208) ($847,373) $346,038 $1,687,590
-65.8% -45.1% -13.7% -71.3% -23.8% 6.7% 25.6%
($1,424,766) ($1,197,670) ($590,434) ($1,852,029) ($946,859) $260,099 $1,570,143
$101,664,185 $100,466,515 $99,876,081 $98,024,052 $97,077,193 $97,337,292 $98,907,434
($8,016,348) ($9,104,141) ($9,573,029) ($11,300,236) ($12,147,610) ($11,801,572) ($10,113,982)
$2,424,597 $2,946,543 $4,184,039 $2,960,462 $4,353,078 $6,290,315 $8,065,972

$99,606 $127,503 $149,844 $180,939 $214,927 $231,831 $239,881
$2,324,991 $2,819,040 $4,034,194 $2,779,523 $4,138,151 $6,058,485 $7,826,091
95.9% 95.7% 96.4% 93.9% 95.1% 96.3% 97.0%
$3,203,745 $3,388,828 $3,763,272 $3,994,175 $4,225,077 $4,601,980 $4,705,783
($878,753) ($569,788) $270,923 ($1,214,651) ($86,925) $1,456,505 $3,120,308
-36.2% -19.3% 6.5% -41.0% -2.0% 23.2% 38.7%
($883,338) ($575,240) $264,602 ($1,221,840) ($94,982) $1,447,580 $3,110,515
-36.4% -19.5% 6.3% -41.3% -2.2% 23.0% 38.6%
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
($883,338) ($575,240) $264,602 ($1,221,840) ($94,982) $1,447,580 $3,110,515
-36.4% -19.5% 6.3% -41.3% -2.2% 23.0% 38.6%
($1,002,040) ($685,118) $143,056 ($1,346,661) ($194,468) $1,361,641 $2,993,068
$103,325,400 $102,640,282 $102,783,338 $101,436,677 $101,242,209 $102,603,850 $105,596,919
($6,355,133) ($6,930,374) ($6,665,772) ($7,887,611) ($7,982,593) ($6,535,013) ($3,424,498)
($211,363) ($256,276) ($366,745) ($252,684) ($376,196) ($550,771) ($711,463)

$211,363 $256,276 $366,745 $252,684 $376,196 $550,771 $711,463
$0 $0 $0 $0 $0 $0 $0
($211,363) ($256,276) ($366,745) ($252,684) ($376,196) ($550,771) ($711,463)

$211,363 $256,276 $366,745 $252,684 $376,196 $550,771 $711,463
$0 $0 $0 $0 $0 $0 $0
$6,599,432 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$221,350 $117,819 $117,819 $117,819 $117,819 $117,819 $117,819
$6,378,082 $46,078,203 $46,078,203 $46,078,203 $46,078,203 $46,078,203 $46,078,203
96.6% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$7,771,186 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293
($1,393,104) $19,610,910 $19,610,910 $19,610,910 $19,610,910 $19,610,910 $19,610,910
-21.1% 42.5% 42.5% 42.5% 42.5% 42.5% 42.5%
($1,403,764) $19,599,381 $19,598,513 $19,597,645 $19,596,777 $19,595,909 $19,595,041
-21.3% 42.4% 42.4% 42.4% 42.4% 42.4% 42.4%
$0 $0 $0 $0 $0 $0 $0
$0 $8,231,740 $8,231,376 $8,231,011 $8,230,646 $8,230,282 $8,229,917
($1,403,764) $11,367,641 $11,367,138 $11,366,634 $11,366,131 $11,365,627 $11,365,124
-21.3% 24.6% 24.6% 24.6% 24.6% 24.6% 24.6%
($1,476,437) $11,295,837 $11,296,201 $11,296,566 $11,296,931 $11,297,295 $11,297,660
$97,430,997 $108,726,834 $120,023,035 $131,319,601 $142,616,532 $153,913,827 $165,211,487
($11,517,746) $8,081,635 $27,680,148 $47,277,794 $66,874,571 $86,470,480 $106,065,522
$8,065,972 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$270,538 $144,001 $144,001 $144,001 $144,001 $144,001 $144,001
$7,795,434 $56,317,804 $56,317,804 $56,317,804 $56,317,804 $56,317,804 $56,317,804
96.6% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$7,771,186 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293
$24,248 $29,850,511 $29,850,511 $29,850,511 $29,850,511 $29,850,511 $29,850,511
0.3% 52.9% 52.9% 52.9% 52.9% 52.9% 52.9%
$13,587 $29,838,982 $29,838,114 $29,837,246 $29,836,378 $29,835,510 $29,834,642
0.2% 52.8% 52.8% 52.8% 52.8% 52.8% 52.8%
$0 $0 $0 $0 $0 $0 $0
$0 $12,532,373 $12,532,008 $12,531,643 $12,531,279 $12,530,914 $12,530,550
$13,587 $17,306,610 $17,306,106 $17,305,603 $17,305,099 $17,304,596 $17,304,092
0.2% 30.7% 30.7% 30.7% 30.6% 30.6% 30.6%
($59,085) $17,234,805 $17,235,170 $17,235,534 $17,235,899 $17,236,264 $17,236,628
$105,537,833 $122,772,639 $140,007,808 $157,243,343 $174,479,242 $191,715,505 $208,952,133
($3,410,910) $26,428,072 $56,266,186 $86,103,432 $115,939,810 $145,775,320 $175,609,962
($708,676) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484)

$708,676 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484
$0 $0 $0 $0 $0 $0 $0
($708,676) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484)

$708,676 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$117,819 $117,819 $117,819 $117,819 $117,819 $117,819 $121,354
$46,078,203 $46,078,203 $46,078,203 $46,078,203 $46,078,203 $46,078,203 $46,074,669
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $33,792,229
$19,610,910 $19,610,910 $19,610,910 $19,610,910 $19,610,910 $19,610,910 $12,282,440
42.5% 42.5% 42.5% 42.5% 42.5% 42.5% 26.6%
$19,594,173 $19,593,305 $19,592,437 $19,591,569 $19,590,701 $19,589,833 $12,260,495
42.4% 42.4% 42.4% 42.4% 42.4% 42.4% 26.5%
$0 $0 $0 $0 $0 $0 $0
$8,229,553 $8,229,188 $8,228,824 $8,228,459 $8,228,094 $8,227,730 $5,149,408
$11,364,620 $11,364,117 $11,363,613 $11,363,110 $11,362,607 $11,362,103 $7,111,087
24.6% 24.6% 24.6% 24.6% 24.6% 24.6% 15.4%
$11,298,024 $11,298,389 $11,298,753 $11,299,118 $11,299,483 $11,293,660 $7,049,699
$176,509,511 $187,807,900 $199,106,653 $210,405,771 $221,705,254 $232,998,914 $240,048,613
$125,659,695 $145,253,000 $164,845,437 $184,437,006 $204,027,707 $223,617,540 $235,878,034
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$144,001 $144,001 $144,001 $144,001 $144,001 $144,001 $148,322
$56,317,804 $56,317,804 $56,317,804 $56,317,804 $56,317,804 $56,317,804 $56,313,484
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $26,467,293 $33,792,229
$29,850,511 $29,850,511 $29,850,511 $29,850,511 $29,850,511 $29,850,511 $22,521,255
52.9% 52.9% 52.9% 52.9% 52.9% 52.9% 39.9%
$29,833,774 $29,832,906 $29,832,038 $29,831,170 $29,830,302 $29,829,434 $22,499,310
52.8% 52.8% 52.8% 52.8% 52.8% 52.8% 39.8%
$0 $0 $0 $0 $0 $0 $0
$12,530,185 $12,529,820 $12,529,456 $12,529,091 $12,528,727 $12,528,362 $9,449,710
$17,303,589 $17,303,085 $17,302,582 $17,302,078 $17,301,575 $17,301,071 $13,049,600
30.6% 30.6% 30.6% 30.6% 30.6% 30.6% 23.1%
$17,236,993 $17,237,357 $17,237,722 $17,238,086 $17,238,451 $17,232,628 $12,988,212
$226,189,126 $243,426,483 $260,664,205 $277,902,291 $295,140,742 $312,373,371 $325,361,583
$205,443,736 $235,276,642 $265,108,679 $294,939,849 $324,770,151 $354,599,584 $377,098,894
($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,256)

$2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,256
$0 $0 $0 $0 $0 $0 $0
($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,484) ($2,969,256)

$2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,484 $2,969,256
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$121,354 $121,354 $121,354 $121,354 $121,354 $121,354 $121,354
$46,074,669 $46,074,669 $46,074,669 $46,074,669 $46,074,669 $46,074,669 $46,074,669
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229
$12,282,440 $12,282,440 $12,282,440 $12,282,440 $12,282,440 $12,282,440 $12,282,440
26.6% 26.6% 26.6% 26.6% 26.6% 26.6% 26.6%
$12,259,626 $12,258,758 $12,257,890 $12,257,022 $12,256,154 $12,255,286 $12,254,418
26.5% 26.5% 26.5% 26.5% 26.5% 26.5% 26.5%
$0 $0 $0 $0 $0 $0 $0
$5,149,043 $5,148,679 $5,148,314 $5,147,949 $5,147,585 $5,147,220 $5,146,856
$7,110,583 $7,110,080 $7,109,576 $7,109,073 $7,108,569 $7,108,066 $7,107,563
15.4% 15.4% 15.4% 15.4% 15.4% 15.4% 15.4%
$7,050,064 $7,050,428 $7,050,793 $7,051,157 $7,051,522 $7,051,886 $7,052,251
$247,098,676 $254,149,105 $261,199,897 $268,251,055 $275,302,577 $282,354,463 $289,406,714
$248,137,661 $260,396,419 $272,654,310 $284,911,332 $297,167,486 $309,422,772 $321,677,191
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$148,322 $148,322 $148,322 $148,322 $148,322 $148,322 $148,322
$56,313,484 $56,313,484 $56,313,484 $56,313,484 $56,313,484 $56,313,484 $56,313,484
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,792,229
$22,521,255 $22,521,255 $22,521,255 $22,521,255 $22,521,255 $22,521,255 $22,521,255
39.9% 39.9% 39.9% 39.9% 39.9% 39.9% 39.9%
$22,498,442 $22,497,574 $22,496,706 $22,495,838 $22,494,970 $22,494,101 $22,493,233
39.8% 39.8% 39.8% 39.8% 39.8% 39.8% 39.8%
$0 $0 $0 $0 $0 $0 $0
$9,449,346 $9,448,981 $9,448,616 $9,448,252 $9,447,887 $9,447,523 $9,447,158
$13,049,096 $13,048,593 $13,048,089 $13,047,586 $13,047,082 $13,046,579 $13,046,075
23.1% 23.1% 23.1% 23.1% 23.1% 23.1% 23.1%
$12,988,576 $12,988,941 $12,989,306 $12,989,670 $12,990,035 $12,990,399 $12,990,764
$338,350,159 $351,339,100 $364,328,406 $377,318,076 $390,308,111 $403,298,510 $416,289,274
$399,597,336 $422,094,910 $444,591,615 $467,087,453 $489,582,422 $512,076,524 $534,569,757
($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256)

$2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256
$0 $0 $0 $0 $0 $0 $0
($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256)

$2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,256
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$121,354 $121,354 $121,354 $121,354 $124,995 $124,995 $124,995
$46,074,669 $46,074,669 $46,074,669 $46,074,669 $46,071,028 $46,071,028 $46,071,028
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,852,234 $33,852,234 $33,852,234
$12,282,440 $12,282,440 $12,282,440 $12,282,440 $12,218,794 $12,218,794 $12,218,794
26.6% 26.6% 26.6% 26.6% 26.4% 26.4% 26.4%
$12,253,550 $12,252,682 $12,251,814 $12,250,946 $12,186,432 $12,185,564 $12,184,696
26.5% 26.5% 26.5% 26.5% 26.4% 26.4% 26.4%
$0 $0 $0 $0 $0 $0 $0
$5,146,491 $5,146,126 $5,145,762 $5,145,397 $5,118,301 $5,117,937 $5,117,572
$7,107,059 $7,106,556 $7,106,052 $7,105,549 $7,068,130 $7,067,627 $7,067,123
15.4% 15.4% 15.4% 15.4% 15.3% 15.3% 15.3%
$7,052,616 $7,052,980 $7,053,345 $7,047,337 $7,017,159 $7,017,524 $7,017,888
$296,459,330 $303,512,310 $310,565,655 $317,612,991 $324,630,151 $331,647,674 $338,665,563
$333,930,741 $346,183,423 $358,435,237 $370,686,183 $382,872,614 $395,058,178 $407,242,873
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$148,322 $148,322 $148,322 $148,322 $152,771 $152,771 $152,771
$56,313,484 $56,313,484 $56,313,484 $56,313,484 $56,309,034 $56,309,034 $56,309,034
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,792,229 $33,792,229 $33,792,229 $33,792,229 $33,852,234 $33,852,234 $33,852,234
$22,521,255 $22,521,255 $22,521,255 $22,521,255 $22,456,800 $22,456,800 $22,456,800
39.9% 39.9% 39.9% 39.9% 39.8% 39.8% 39.8%
$22,492,365 $22,491,497 $22,490,629 $22,489,761 $22,424,438 $22,423,570 $22,422,702
39.8% 39.8% 39.8% 39.8% 39.7% 39.7% 39.7%
$0 $0 $0 $0 $0 $0 $0
$9,446,793 $9,446,429 $9,446,064 $9,445,700 $9,418,264 $9,417,899 $9,417,535
$13,045,572 $13,045,068 $13,044,565 $13,044,061 $13,006,174 $13,005,670 $13,005,167
23.1% 23.1% 23.1% 23.1% 23.0% 23.0% 23.0%
$12,991,129 $12,991,493 $12,991,858 $12,985,849 $12,955,203 $12,955,567 $12,955,932
$429,280,402 $442,271,896 $455,263,753 $468,249,603 $481,204,805 $494,160,373 $507,116,305
$557,062,123 $579,553,620 $602,044,249 $624,534,010 $646,958,448 $669,382,018 $691,804,720
($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,022) ($2,969,022) ($2,969,022)

$2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,022 $2,969,022 $2,969,022
$0 $0 $0 $0 $0 $0 $0
($2,969,256) ($2,969,256) ($2,969,256) ($2,969,256) ($2,969,022) ($2,969,022) ($2,969,022)

$2,969,256 $2,969,256 $2,969,256 $2,969,256 $2,969,022 $2,969,022 $2,969,022
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$124,995 $124,995 $124,995 $124,995 $124,995 $124,995 $124,995
$46,071,028 $46,071,028 $46,071,028 $46,071,028 $46,071,028 $46,071,028 $46,071,028
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234
$12,218,794 $12,218,794 $12,218,794 $12,218,794 $12,218,794 $12,218,794 $12,218,794
26.4% 26.4% 26.4% 26.4% 26.4% 26.4% 26.4%
$12,183,827 $12,182,959 $12,182,091 $12,181,223 $12,180,355 $12,179,487 $12,178,619
26.4% 26.4% 26.4% 26.4% 26.4% 26.4% 26.4%
$0 $0 $0 $0 $0 $0 $0
$5,117,208 $5,116,843 $5,116,478 $5,116,114 $5,115,749 $5,115,385 $5,115,020
$7,066,620 $7,066,116 $7,065,613 $7,065,110 $7,064,606 $7,064,103 $7,063,599
15.3% 15.3% 15.3% 15.3% 15.3% 15.3% 15.3%
$7,018,253 $7,018,618 $7,018,982 $7,019,347 $7,019,711 $7,020,076 $7,020,440
$345,683,816 $352,702,433 $359,721,415 $366,740,762 $373,760,473 $380,780,549 $387,800,989
$419,426,701 $431,609,660 $443,791,752 $455,972,975 $468,153,330 $480,332,817 $492,511,436
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$152,771 $152,771 $152,771 $152,771 $152,771 $152,771 $152,771
$56,309,034 $56,309,034 $56,309,034 $56,309,034 $56,309,034 $56,309,034 $56,309,034
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234 $33,852,234
$22,456,800 $22,456,800 $22,456,800 $22,456,800 $22,456,800 $22,456,800 $22,456,800
39.8% 39.8% 39.8% 39.8% 39.8% 39.8% 39.8%
$22,421,834 $22,420,966 $22,420,098 $22,419,230 $22,418,361 $22,417,493 $22,416,625
39.7% 39.7% 39.7% 39.7% 39.7% 39.7% 39.7%
$0 $0 $0 $0 $0 $0 $0
$9,417,170 $9,416,806 $9,416,441 $9,416,076 $9,415,712 $9,415,347 $9,414,983
$13,004,664 $13,004,160 $13,003,657 $13,003,153 $13,002,650 $13,002,146 $13,001,643
23.0% 23.0% 23.0% 23.0% 23.0% 23.0% 23.0%
$12,956,297 $12,956,661 $12,957,026 $12,957,390 $12,957,755 $12,958,119 $12,958,484
$520,072,601 $533,029,262 $545,986,288 $558,943,678 $571,901,433 $584,859,553 $597,818,037
$714,226,553 $736,647,519 $759,067,617 $781,486,846 $803,905,207 $826,322,701 $848,739,326
($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022)

$2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022
$0 $0 $0 $0 $0 $0 $0
($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022) ($2,969,022)

$2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022 $2,969,022
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$124,995 $124,995 $128,744 $128,744 $128,744 $128,744 $128,744
$46,071,028 $46,071,028 $46,067,278 $46,067,278 $46,067,278 $46,067,278 $46,067,278
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,852,234 $33,852,234 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$12,218,794 $12,218,794 $12,091,804 $12,091,804 $12,091,804 $12,091,804 $12,091,804
26.4% 26.4% 26.2% 26.2% 26.2% 26.2% 26.2%
$12,177,751 $12,176,883 $12,049,025 $12,048,157 $12,047,289 $12,046,421 $12,045,553
26.4% 26.4% 26.1% 26.1% 26.1% 26.1% 26.1%
$0 $0 $0 $0 $0 $0 $0
$5,114,655 $5,114,291 $5,060,591 $5,060,226 $5,059,861 $5,059,497 $5,059,132
$7,063,096 $7,062,592 $6,988,435 $6,987,931 $6,987,428 $6,986,924 $6,986,421
15.3% 15.3% 15.1% 15.1% 15.1% 15.1% 15.1%
$7,020,805 $7,014,606 $6,947,880 $6,948,245 $6,948,609 $6,948,974 $6,949,339
$394,821,794 $401,836,400 $408,784,280 $415,732,525 $422,681,135 $429,630,109 $436,579,447
$504,689,188 $516,866,071 $528,915,096 $540,963,253 $553,010,542 $565,056,964 $577,102,517
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$152,771 $152,771 $157,354 $157,354 $157,354 $157,354 $157,354
$56,309,034 $56,309,034 $56,304,451 $56,304,451 $56,304,451 $56,304,451 $56,304,451
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,852,234 $33,852,234 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$22,456,800 $22,456,800 $22,328,977 $22,328,977 $22,328,977 $22,328,977 $22,328,977
39.8% 39.8% 39.5% 39.5% 39.5% 39.5% 39.5%
$22,415,757 $22,414,889 $22,286,198 $22,285,330 $22,284,462 $22,283,594 $22,282,726
39.7% 39.7% 39.5% 39.5% 39.5% 39.5% 39.5%
$0 $0 $0 $0 $0 $0 $0
$9,414,618 $9,414,253 $9,360,203 $9,359,839 $9,359,474 $9,359,110 $9,358,745
$13,001,139 $13,000,636 $12,925,995 $12,925,492 $12,924,988 $12,924,485 $12,923,981
23.0% 23.0% 22.9% 22.9% 22.9% 22.9% 22.9%
$12,958,849 $12,952,649 $12,885,440 $12,885,805 $12,886,170 $12,886,534 $12,886,899
$610,776,885 $623,729,535 $636,614,975 $649,500,780 $662,386,950 $675,273,484 $688,160,383
$871,155,084 $893,569,973 $915,856,171 $938,141,501 $960,425,963 $982,709,558 $1,004,992,284
($2,969,022) ($2,969,022) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780)

$2,969,022 $2,969,022 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780
$0 $0 $0 $0 $0 $0 $0
($2,969,022) ($2,969,022) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780)

$2,969,022 $2,969,022 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780
$0 $0 $0 $0 $0 $0 $0
$46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023 $46,196,023

$128,744 $128,744 $128,744 $128,744 $128,744 $128,744 $128,744
$46,067,278 $46,067,278 $46,067,278 $46,067,278 $46,067,278 $46,067,278 $46,067,278
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$12,091,804 $12,091,804 $12,091,804 $12,091,804 $12,091,804 $12,091,804 $12,091,804
26.2% 26.2% 26.2% 26.2% 26.2% 26.2% 26.2%
$12,044,685 $12,043,817 $12,042,949 $12,042,081 $12,041,213 $12,040,345 $12,039,477
26.1% 26.1% 26.1% 26.1% 26.1% 26.1% 26.1%
$0 $0 $0 $0 $0 $0 $0
$5,058,768 $5,058,403 $5,058,039 $5,057,674 $5,057,309 $5,056,945 $5,056,580
$6,985,917 $6,985,414 $6,984,910 $6,984,407 $6,983,903 $6,983,400 $6,982,897
15.1% 15.1% 15.1% 15.1% 15.1% 15.1% 15.1%
$6,949,703 $6,950,068 $6,950,432 $6,950,797 $6,951,161 $6,951,526 $6,951,891
$443,529,150 $450,479,218 $457,429,650 $464,380,447 $471,331,609 $478,283,135 $485,235,025
$589,147,202 $601,191,019 $613,233,968 $625,276,049 $637,317,262 $649,357,606 $661,397,083
$56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805 $56,461,805

$157,354 $157,354 $157,354 $157,354 $157,354 $157,354 $157,354
$56,304,451 $56,304,451 $56,304,451 $56,304,451 $56,304,451 $56,304,451 $56,304,451
99.7% 99.7% 99.7% 99.7% 99.7% 99.7% 99.7%
$33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474 $33,975,474
$22,328,977 $22,328,977 $22,328,977 $22,328,977 $22,328,977 $22,328,977 $22,328,977
39.5% 39.5% 39.5% 39.5% 39.5% 39.5% 39.5%
$22,281,858 $22,280,990 $22,280,122 $22,279,254 $22,278,386 $22,277,518 $22,276,650
39.5% 39.5% 39.5% 39.5% 39.5% 39.5% 39.5%
$0 $0 $0 $0 $0 $0 $0
$9,358,380 $9,358,016 $9,357,651 $9,357,287 $9,356,922 $9,356,557 $9,356,193
$12,923,478 $12,922,974 $12,922,471 $12,921,967 $12,921,464 $12,920,960 $12,920,457
22.9% 22.9% 22.9% 22.9% 22.9% 22.9% 22.9%
$12,887,263 $12,887,628 $12,887,993 $12,888,357 $12,888,722 $12,889,086 $12,889,451
$701,047,646 $713,935,274 $726,823,267 $739,711,624 $752,600,346 $765,489,432 $778,378,883
$1,027,274,142 $1,049,555,132 $1,071,835,253 $1,094,114,507 $1,116,392,893 $1,138,670,411 $1,160,947,060
($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780)

$2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780
$0 $0 $0 $0 $0 $0 $0
($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780) ($2,968,780)

$2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780 $2,968,780
$0 $0 $0 $0 $0 $0 $0
Start Year 1 Year 2 Year 3
Normal Case ($110,000,000) ($8,804,585) $171,201,727 $120,245,155
Best Case ($110,000,000) ($4,751,167) $206,835,537 $155,876,232
Worst Case ($110,000,000) ($12,858,003) $135,567,916 $84,614,078
Investment Years Invested Investment Multiple 5th Year Value

Initial $110,000,000 5 3.0 $330,000,000
Year 1 $0 5 3.0 $0
Year 2 $0 4 2.4 $0
Year 3 $0 3 1.9 $0
Year 4 $0 2 1.6 $0
Year 5 $0 1 1.2 $0
Total $110,000,000 $330,000,000
5th Year Company Earnings $119,453,349

5th Year Multiple 6
5th Year Company Value $716,720,095
Per Year Return 25%

Year 4 Year 5
$119,851,670 $119,023,987 65.1%
$155,479,932 $154,649,348 80.5%
$84,223,409 $83,398,625 47.4%
Company Share
46.0%
0.0%
0.0%
0.0%
0.0%
0.0%
46.0%
Pre-Operating Source of Funds Pre-Operating Use of Funds
Investment Expenses
Owner $289,000 Advertising $1,500
Investor $110,000,000 Literature $14,800
Total Investment $110,289,000 Promotions $3,300
Other Marketing & Advertising $23,760
Debt Research & Development $238,000
Current Debt $0 General & Admin $4,716
Long-Term Debt $0 Total Expenses $286,076
Total Debt $0
Total Source of Funds $110,289,000 Assets
Inventory $42,520
Property $0
Equipment $23,434
Other Long-Term Assets $0
Total Assets $65,954
Total Use of Funds $352,030
Total Source & Use of Funds Yearly Revenue
Total Source of Funds $110,289,000 Year 1 Year 2
Total Use of Funds $352,030 Units
Month 1 Starting Cash $109,936,970 Seller Assisted Marketing Plan 312 0
Employee Edu. Formats 1 & 2 412 4,200
Manager Edu. Formats 3 & 4 362 4,200
Employer Edu. Formats 5 & 6 312 4,200
Small Business Edu. Format 7 262 4,200
Large Business Edu. Format 8 212 4,200
Packaged Edu. Formats 1/3/5/7 162 4,200
Packaged Edu. Formats 2/4/6/8 112 4,200
Total Units 2,146 29,400
Unit Price
Seller Assisted Marketing Plan $38,830.00 $0.00
Employee Edu. Formats 1 & 2 $4,151.51 $4,151.51
Manager Edu. Formats 3 & 4 $4,592.00 $4,592.00
Employer Edu. Formats 5 & 6 $25,000.00 $25,000.00
Small Business Edu. Format 7 $14,583.00 $14,583.00
Large Business Edu. Format 8 $22,917.00 $22,917.00
Packaged Edu. Formats 1/3/5/7 $32,930.70 $32,930.70
Packaged Edu. Formats 2/4/6/8 $42,479.83 $42,479.83
Revenue
Seller Assisted Marketing Plan $12,114,960 $0
Employee Edu. Formats 1 & 2 $1,710,422 $17,436,342
Manager Edu. Formats 3 & 4 $1,662,304 $19,286,400
Employer Edu. Formats 5 & 6 $7,800,000 $105,000,000
Small Business Edu. Format 7 $3,820,746 $61,248,600
Large Business Edu. Format 8 $4,858,404 $96,251,400
Packaged Edu. Formats 1/3/5/7 $5,334,773 $138,308,940
Packaged Edu. Formats 2/4/6/8 $4,757,741 $178,415,286
Gross Revenue $42,059,350 $615,946,968
Direct Costs
Material $1,281,570 $1,320,017
Production Facility Expense $42,000 $43,260
Production Equipment Rental $20,400 $21,012
Small Tools / Supplies $34,800 $35,844
Packaging Supplies $56,400 $58,092
Other Production Expenses $90,000 $92,700
Direct Cost of Revenue $1,525,170 $1,570,925
rly Revenue Yearly Personnel
Year 3 Year 4 Year 5 Year 1 Year 2
Payroll
0 0 0 Seller Assisted Marketing Plan $0 $250,000
4,200 4,200 4,200 Employee Edu. Formats 1 & 2 $2,876,829 $1,743,634
4,200 4,200 4,200 Manager Edu. Formats 3 & 4 $2,404,950 $1,928,640
4,200 4,200 4,200 Employer Edu. Formats 5 & 6 $4,481,803 $10,185,000
4,200 4,200 4,200 Small Business Edu. Format 7 $2,240,900 $5,465,708
4,200 4,200 4,200 Large Business Edu. Format 8 $2,648,830 $7,383,857
4,200 4,200 4,200 Packaged Edu. Formats 1/3/5/7 $2,648,829 $8,344,639
4,200 4,200 4,200 Packaged Edu. Formats 2/4/6/8 $5,732,636 $9,277,595
29,400 29,400 29,400 Marketing & Advertising $947,200 $6,914,760
Research & Development $768,000 $29,083,300
General & Admin $439,500 $29,083,300
$0.00 $0.00 $0.00 Total Payroll $25,189,477 $109,660,434
$4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83
$0 $0 $0
$17,436,342 $17,436,342 $17,436,342
$19,286,400 $19,286,400 $19,286,400
$105,000,000 $105,000,000 $105,000,000
$61,248,600 $61,248,600 $61,248,600
$96,251,400 $96,251,400 $96,251,400
$138,308,940 $138,308,940 $138,308,940
$178,415,286 $178,415,286 $178,415,286
$615,946,968 $615,946,968 $615,946,968
$1,359,618 $1,400,407 $1,442,419

$44,558 $45,895 $47,271
$21,642 $22,292 $22,960
$36,919 $38,027 $39,168
$59,835 $61,630 $63,479
$95,481 $98,345 $101,296
$1,618,053 $1,666,595 $1,716,593
y Personnel Yearly Income Statement
Gross Revenue $42,059,350 $615,946,968
$250,000 $250,000 $250,000 Direct Cost of Revenue $1,525,170 $1,570,925
$1,743,634 $1,743,634 $1,743,634 Other Direct Costs $0 $0
$1,928,640 $1,928,640 $1,928,640 Total Cost of Revenue $1,525,170 $1,570,925
$10,500,000 $10,500,000 $10,500,000
$6,124,860 $6,124,860 $6,124,860 Gross Profit $40,534,180 $614,376,043
$9,625,140 $9,625,140 $9,625,140 Gross Margin Percentage 96.4% 99.7%
$13,830,894 $13,830,894 $13,830,894
$17,841,529 $17,841,529 $17,841,529 Operating Expenses
$6,914,760 $6,914,760 $6,914,760 Advertising $3,329,190 $9,398,400
$39,275,160 $39,275,160 $39,275,160 Literature $15,774 $17,816,000
$39,275,160 $39,275,160 $39,275,160 Promotions $2,758,524 $6,914,760
$147,309,777 $147,309,777 $147,309,777 Other Marketing & Advertising $671,342 $29,083,300
Research & Development $2,549,076 $29,083,300
General & Admin $2,548,832 $69,593,938
Total Payroll $25,189,477 $109,660,434
Payroll Taxes $10,579,580 $46,057,382
Total Operating Expenses $47,641,795 $71,114,910
Operating Profit ($7,107,615) $296,768,528

Operating Profit Percentage -16.9% 48.2%
Depreciation $70,638 $195,638

Earning Before Interest & Taxes ($7,178,252) $296,572,891
EBIT Percentage -17.1% 48.1%
Interest Expenses $0 $0
Taxes Accrued $0 $124,560,614
Earnings ($7,178,252) $172,012,277
Earnings Percentage -17.1% 27.9%
ome Statement Yearly Statement of Cash Flow
$615,946,968 $615,946,968 $615,946,968 Operating Activities
$1,618,053 $1,666,595 $1,716,593 Cash Received
$0 $0 $0 Gross Revenue $42,059,350 $615,946,968
$1,618,053 $1,666,595 $1,716,593 Total Cash Received $42,059,350 $615,946,968
Cash Used
$614,328,915 $614,280,373 $614,230,375 Cost of Revenue $1,525,170 $1,570,925
99.7% 99.7% 99.7% Payroll/Taxes/Benefits $35,769,057 $155,717,817
Other Operating Expenses $11,872,738 $161,889,698
Additional Inventory $344,940 $6,187
$9,680,400 $9,970,800 $10,269,600 Interest Expenses $0 $0
$19,380,000 $19,596,000 $20,556,000 Taxes Accrued $0 $124,560,614
$7,122,203 $7,335,870 $7,555,947 Total Cash Used $49,511,905 $443,745,241
$39,275,160 $39,275,160 $39,275,160 Net Cash From/(Used By) Operating ($7,452,555) $172,201,727
$39,275,160 $39,275,160 $39,275,160
$81,593,937 $81,593,937 $81,593,937 Investing Activities
$147,309,777 $147,309,777 $147,309,777 Cash Received
$61,870,106 $61,870,106 $61,870,106 Proceeds from Property/Land $0 $0
$94,587,511 $406,226,810 $407,705,687 Proceeds from Equipment $0 $0
Total Cash Received $0 $0
$208,822,172 $208,053,563 $206,524,688 Cash Used
33.9% 33.8% 33.5% Purchase of Property/Land $0 $0
Purchase of Equipment $1,000,000 $1,000,000
$320,638 $445,638 $570,638 Total Cash Used $1,000,000 $1,000,000
$208,501,534 $207,607,925 $205,954,050 Net Cash From/(Used By) Investing ($1,000,000) ($1,000,000)
33.9% 33.7% 33.4%
Financing Activities
$0 $0 $0 Cash Received
$87,570,644 $87,195,329 $86,500,701 Proceeds from Investors $0 $0
$120,930,890 $120,412,597 $119,453,349 Proceeds from Long-Term Debt $0 $0
19.6% 19.5% 19.4% Total Cash Received $0 $0
Cash Used
Dividends Paid $0 $0
Repayment of Long-Term Debt $0 $0
Total Cash Used $0 $0
Net Cash From/(Used By) Financing $0 $0
Net Cash Flow ($8,452,555) $171,201,727

Cash Balance $101,484,415 $272,686,142
ment of Cash Flow Yearly Balance Sheet
Assets
Current Assets
$615,946,968 $615,946,968 $615,946,968 Cash $101,484,415 $272,686,142
$615,946,968 $615,946,968 $615,946,968 Inventory $387,460 $393,647
Other Current Assets $0 $0
$1,618,053 $1,666,595 $1,716,593 Total Current Assets $101,871,875 $273,079,789
$209,179,883 $209,179,883 $209,179,883 Long-Term Assets
$196,326,860 $197,046,927 $198,525,804 Property $0 $0
$6,373 $6,564 $0 Equipment $1,023,434 $2,023,434
$0 $0 $0 Other Long-Term Assets $0 $0
$87,570,644 $87,195,329 $86,500,701 Accumulated Depreciation ($70,638) ($266,275)
$494,701,813 $495,095,298 $495,922,981 Total Long-Term Assets $952,796 $1,757,159
$121,245,155 $120,851,670 $120,023,987 Total Assets $102,824,672 $274,836,948
Liabilities
Current Liabilities
$0 $0 $0 Current Debt $0 $0
$0 $0 $0 Total Current Liabilities $0 $0
$0 $0 $0 Long-Term Liabilities
Long-Term Debt $0 $0
$0 $0 $0 Total Long-Term Liabilities $0 $0
$1,000,000 $1,000,000 $1,000,000 Total Liabilities $0 $0
$1,000,000 $1,000,000 $1,000,000
($1,000,000) ($1,000,000) ($1,000,000) Shareholders' Equity
Paid-in Capital
Owner $289,000 $289,000
Investor $110,000,000 $110,000,000
$0 $0 $0 Total Paid-in Capital $110,289,000 $110,289,000
$0 $0 $0 Retained Earnings
$0 $0 $0 Previous Retained Earnings ($286,076) ($7,464,328)
Current Earnings ($7,178,252) $172,012,277
$0 $0 $0 Total Retained Earnings ($7,464,328) $164,547,948
$0 $0 $0 Total Shareholders' Equity $102,824,672 $274,836,948
$0 $0 $0 Total Liabilities & Equity $102,824,672 $274,836,948
$0 $0 $0
$120,245,155 $119,851,670 $119,023,987

$392,931,297 $512,782,967 $631,806,954
y Balance Sheet Break-Even
Year 3 Year 4 Year 5 Analysis Month
Operating Break-Even 13
Investment Cash Flow Break-Even 13
$392,931,297 $512,782,967 $631,806,954
$400,020 $406,584 $406,584
$0 $0 $0
$393,331,317 $513,189,551 $632,213,538
$0 $0 $0
$3,023,434 $4,023,434 $5,023,434
$0 $0 $0
($586,913) ($1,032,550) ($1,603,188)
$2,436,521 $2,990,884 $3,420,246
$395,767,838 $516,180,435 $635,633,784
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$289,000 $289,000 $289,000

$110,000,000 $110,000,000 $110,000,000
$110,289,000 $110,289,000 $110,289,000
$164,547,948 $285,478,838 $405,891,435

$120,930,890 $120,412,597 $119,453,349
$285,478,838 $405,891,435 $525,344,784
$395,767,838 $516,180,435 $635,633,784
$395,767,838 $516,180,435 $635,633,784
Worst Case -- Revenue Decrease By: 10%
Gross Revenue $37,853,415 $554,352,271 $554,352,271 $554,352,271 $554,352,271
Total Cost of Revenue $1,372,653 $1,413,832 $1,456,248 $1,499,936 $1,544,934
Gross Profit $36,480,762 $552,938,439 $552,896,023 $552,852,335 $552,807,338
Gross Margin Percentage 96.4% 99.7% 99.7% 99.7% 99.7%
Total Operating Expenses $47,641,795 $317,607,515 $405,506,743 $406,226,810 $407,705,687
Operating Profit ($11,161,033) $235,330,924 $147,389,280 $146,625,525 $145,101,650
Operating Profit Percentage -29.5% 42.5% 26.6% 26.4% 26.2%
Earning Before Interest & Taxes ($11,231,670) $235,135,286 $147,068,643 $146,179,888 $144,531,013
EBIT Percentage -29.7% 42.4% 26.5% 26.4% 26.1%
Interest Expenses $0 $0 $0 $0 $0
Taxes Accrued $0 $98,756,820 $61,768,830 $61,395,553 $60,703,025
Earnings ($11,231,670) $136,378,466 $85,299,813 $84,784,335 $83,827,987
Earnings Percentage -29.7% 24.6% 15.4% 15.3% 15.1%
Net Cash Flow ($12,505,973) $135,567,916 $84,614,078 $84,223,409 $83,398,625

Cash Balance $97,430,997 $232,998,914 $317,612,991 $401,836,400 $485,235,025
Best Case -- Revenue Increase By: 10%
Gross Revenue $46,265,286 $677,541,665 $677,541,665 $677,541,665 $677,541,665
Total Cost of Revenue $1,677,687 $1,728,017 $1,779,859 $1,833,255 $1,888,252
Gross Profit $44,587,599 $675,813,647 $675,761,806 $675,708,410 $675,653,413
Gross Margin Percentage 96.4% 99.7% 99.7% 99.7% 99.7%
Total Operating Expenses $47,641,795 $317,607,515 $405,506,743 $406,226,810 $407,705,687
Operating Profit Percentage -6.6% 52.9% 39.9% 39.8% 39.5%
Earning Before Interest & Taxes ($3,124,834) $358,010,495 $269,934,426 $269,035,962 $267,377,088
EBIT Percentage -6.8% 52.8% 39.8% 39.7% 39.5%
Interest Expenses $0 $0 $0 $0 $0
Taxes Accrued $0 $150,364,408 $113,372,459 $112,995,104 $112,298,377
Earnings ($3,124,834) $207,646,087 $156,561,967 $156,040,858 $155,078,711
Earnings Percentage -6.8% 30.6% 23.1% 23.0% 22.9%
Net Cash Flow ($4,399,137) $206,835,537 $155,876,232 $155,479,932 $154,649,348

Cash Balance $105,537,833 $312,373,371 $468,249,603 $623,729,535 $778,378,883
Year 1 Revenue
Units
Seller Assisted Marketing Plan 12 50 50 50 50 50 50 0
Employee Edu. Formats 1 & 2 0 0 0 12 50 50 50 50
Manager Edu. Formats 3 & 4 0 0 0 0 12 50 50 50
Employer Edu. Formats 5 & 6 0 0 0 0 0 12 50 50
Small Business Edu. Format 7 0 0 0 0 0 0 12 50
Large Business Edu. Format 8 0 0 0 0 0 0 0 12
Packaged Edu. Formats 1/3/5/7 0 0 0 0 0 0 0 0
Packaged Edu. Formats 2/4/6/8 0 0 0 0 0 0 0 0
Total Units 12 50 50 62 112 162 212 212
Unit Price
Seller Assisted Marketing Plan $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00 $38,830.00
Employee Edu. Formats 1 & 2 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51 $4,151.51
Manager Edu. Formats 3 & 4 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00 $4,592.00
Employer Edu. Formats 5 & 6 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00
Small Business Edu. Format 7 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00 $14,583.00
Large Business Edu. Format 8 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00 $22,917.00
Packaged Edu. Formats 1/3/5/7 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70 $32,930.70
Packaged Edu. Formats 2/4/6/8 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83 $42,479.83
Revenue
Seller Assisted Marketing Plan $465,960 $1,941,500 $1,941,500 $1,941,500 $1,941,500 $1,941,500 $1,941,500 $0
Employee Edu. Formats 1 & 2 $0 $0 $0 $49,818 $207,576 $207,576 $207,576 $207,576
Manager Edu. Formats 3 & 4 $0 $0 $0 $0 $55,104 $229,600 $229,600 $229,600
Employer Edu. Formats 5 & 6 $0 $0 $0 $0 $0 $300,000 $1,250,000 $1,250,000
Small Business Edu. Format 7 $0 $0 $0 $0 $0 $0 $174,996 $729,150
Large Business Edu. Format 8 $0 $0 $0 $0 $0 $0 $0 $275,004
Packaged Edu. Formats 1/3/5/7 $0 $0 $0 $0 $0 $0 $0 $0
Packaged Edu. Formats 2/4/6/8 $0 $0 $0 $0 $0 $0 $0 $0
Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330
Direct Costs
Material $6,690 $7,895 $13,665 $38,384 $70,251 $95,612 $115,922 $144,190
Production Facility Expense $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500
Production Equipment Rental $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700
Small Tools / Supplies $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900
Packaging Supplies $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700
Other Production Expenses $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Direct Cost of Revenue $26,990 $28,195 $33,965 $58,684 $90,551 $115,912 $136,222 $164,490
Year 1 Personn
Payroll
0 0 0 0 Seller Assisted Marketing Plan $0 $0 $0
50 50 50 50 Employee Edu. Formats 1 & 2 $239,736 $239,736 $239,736
50 50 50 50 Manager Edu. Formats 3 & 4 $200,413 $200,413 $200,413
50 50 50 50 Employer Edu. Formats 5 & 6 $373,484 $373,484 $373,484
50 50 50 50 Small Business Edu. Format 7 $186,742 $186,742 $186,742
50 50 50 50 Large Business Edu. Format 8 $220,736 $220,736 $220,736
12 50 50 50 Packaged Edu. Formats 1/3/5/7 $220,736 $220,736 $220,736
0 12 50 50 Packaged Edu. Formats 2/4/6/8 $477,720 $477,720 $477,720
262 312 350 350 Marketing & Advertising $78,933 $78,933 $78,933
Research & Development $64,000 $64,000 $64,000
General & Admin $36,625 $36,625 $36,625
$38,830.00 $38,830.00 $38,830.00 $38,830.00 Total Payroll $2,099,123 $2,099,123 $2,099,123
$4,151.51 $4,151.51 $4,151.51 $4,151.51
$4,592.00 $4,592.00 $4,592.00 $4,592.00
$25,000.00 $25,000.00 $25,000.00 $25,000.00
$14,583.00 $14,583.00 $14,583.00 $14,583.00
$22,917.00 $22,917.00 $22,917.00 $22,917.00
$32,930.70 $32,930.70 $32,930.70 $32,930.70
$42,479.83 $42,479.83 $42,479.83 $42,479.83
$0 $0 $0 $0
$207,576 $207,576 $207,576 $207,576
$229,600 $229,600 $229,600 $229,600
$1,250,000 $1,250,000 $1,250,000 $1,250,000
$729,150 $729,150 $729,150 $729,150
$1,145,850 $1,145,850 $1,145,850 $1,145,850
$395,168 $1,646,535 $1,646,535 $1,646,535
$0 $509,758 $2,123,992 $2,123,992
$3,957,344 $5,718,468 $7,332,702 $7,332,702
$175,088 $190,455 $197,774 $225,644

$3,500 $3,500 $3,500 $3,500
$1,700 $1,700 $1,700 $1,700
$2,900 $2,900 $2,900 $2,900
$4,700 $4,700 $4,700 $4,700
$7,500 $7,500 $7,500 $7,500
$195,388 $210,755 $218,074 $245,944
Year 1 Personnel
$0 $0 $0 $0 $0 $0 $0 $0 $0
$239,736 $239,736 $239,736 $239,736 $239,736 $239,736 $239,736 $239,736 $239,736
$200,413 $200,413 $200,413 $200,413 $200,413 $200,413 $200,413 $200,413 $200,413
$373,484 $373,484 $373,484 $373,484 $373,484 $373,484 $373,484 $373,484 $373,484
$186,742 $186,742 $186,742 $186,742 $186,742 $186,742 $186,742 $186,742 $186,742
$220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736
$220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736 $220,736
$477,720 $477,720 $477,720 $477,720 $477,720 $477,720 $477,720 $477,720 $477,720
$78,933 $78,933 $78,933 $78,933 $78,933 $78,933 $78,933 $78,933 $78,933
$64,000 $64,000 $64,000 $64,000 $64,000 $64,000 $64,000 $64,000 $64,000
$36,625 $36,625 $36,625 $36,625 $36,625 $36,625 $36,625 $36,625 $36,625
$2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123
Year 1 Income Statement
Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330
Direct Cost of Revenue $26,990 $28,195 $33,965 $58,684 $90,551 $115,912 $136,222 $164,490
Other Direct Costs $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Revenue $26,990 $28,195 $33,965 $58,684 $90,551 $115,912 $136,222 $164,490
Gross Profit $438,970 $1,913,305 $1,907,535 $1,932,634 $2,113,629 $2,562,764 $3,667,450 $2,526,840
Gross Margin Percentage 94.2% 98.5% 98.3% 97.1% 95.9% 95.7% 96.4% 93.9%
Operating Expenses
Advertising $500 $990 $1,500 $5,000 $57,500 $94,000 $130,000 $320,000
Literature $1,298 $1,301 $1,304 $1,307 $1,310 $1,313 $1,316 $1,319
Promotions $500 $504 $800 $5,120 $51,600 $200,000 $240,000 $280,000
Other Marketing & Advertising $7,920 $7,930 $7,940 $7,950 $79,600 $79,700 $79,801 $79,901
Research & Development $1,633 $1,637 $1,641 $1,645 $16,490 $16,530 $165,700 $166,100
General & Admin $1,572 $1,576 $1,580 $1,584 $16,490 $16,530 $165,700 $166,100
Total Payroll $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123 $2,099,123
Payroll Taxes $881,632 $881,632 $881,632 $881,632 $881,632 $881,632 $881,632 $881,632
Total Operating Expenses $2,994,178 $2,994,693 $2,995,520 $3,003,361 $3,203,745 $3,388,828 $3,763,272 $3,994,175
Operating Profit ($2,555,208) ($1,081,388) ($1,087,985) ($1,070,727) ### ($826,064) ($95,822) ($1,467,335)
Operating Profit Percentage -548.4% -55.7% -56.0% -53.8% -49.5% -30.8% -2.5% -54.5%
Depreciation $1,112 $1,980 $2,848 $3,716 $4,584 $5,452 $6,320 $7,189

Earning Before Interest & Taxes ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443) ### ($831,517) ($102,143) ($1,474,524)
EBIT Percentage -548.6% -55.8% -56.2% -54.0% -49.7% -31.0% -2.7% -54.8%
Interest Expenses $0 $0 $0 $0 $0 $0 $0 $0
Taxes Accrued $0 $0 $0 $0 $0 $0 $0 $0
Earnings ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443) ### ($831,517) ($102,143) ($1,474,524)
Earnings Percentage -548.6% -55.8% -56.2% -54.0% -49.7% -31.0% -2.7% -54.8%
Year 1 Statem
$3,957,344 $5,718,468 $7,332,702 $7,332,702 Operating Activities
$195,388 $210,755 $218,074 $245,944 Cash Received
$0 $0 $0 $0 Gross Revenue $465,960 $1,941,500 $1,941,500
$195,388 $210,755 $218,074 $245,944 Total Cash Received $465,960 $1,941,500 $1,941,500
Cash Used
$3,761,956 $5,507,713 $7,114,628 $7,086,758 Cost of Revenue $26,990 $28,195 $33,965
95.1% 96.3% 97.0% 96.6% Payroll/Taxes/Benefits $2,980,755 $2,980,755 $2,980,755
Other Operating Expenses $13,423 $13,938 $14,765
Additional Inventory $1,898 $9,090 $38,942
$510,000 $670,000 $768,900 $770,800 Interest Expenses $0 $0 $0
$1,322 $1,325 $1,328 $1,331 Taxes Accrued $0 $0 $0
$320,000 $536,000 $540,000 $584,000 Total Cash Used $3,023,066 $3,031,978 $3,068,427
$80,000 $80,100 $80,200 $80,300 Net Cash From/(Used By) Operating ($2,557,106) ($1,090,478) ($1,126,927)
$166,500 $166,900 $167,300 $1,677,000 Investing Activities
$166,500 $166,900 $167,300 $1,677,000 Cash Received
$2,099,123 $2,099,123 $2,099,123 $2,099,123 Proceeds from Property/Land $0 $0 $0
$881,632 $881,632 $881,632 $881,632 Proceeds from Equipment $0 $0 $0
$4,225,077 $4,601,980 $4,705,783 $7,771,186 Total Cash Received $0 $0 $0
Cash Used
($463,121) $905,734 $2,408,845 ($684,428) Purchase of Property/Land $0 $0 $0
-11.7% 15.8% 32.9% -9.3% Purchase of Equipment $83,333 $83,333 $83,333
Total Cash Used $83,333 $83,333 $83,333
$8,057 $8,925 $9,793 $10,661 Net Cash From/(Used By) Investing ($83,333) ($83,333) ($83,333)
($471,177) $896,809 $2,399,053 ($695,089) Financing Activities
-11.9% 15.7% 32.7% -9.5% Cash Received
Proceeds from Investors $0 $0 $0
$0 $0 $0 $0 Proceeds from Long-Term Debt $0 $0 $0
$0 $0 $0 $0 Total Cash Received $0 $0 $0
($471,177) $896,809 $2,399,053 ($695,089) Cash Used
-11.9% 15.7% 32.7% -9.5% Dividends Paid $0 $0 $0
Repayment of Long-Term Debt $0 $0 $0
Total Cash Used $0 $0 $0
Net Cash From/(Used By) Financing $0 $0 $0
Net Cash Flow ($2,640,439) ($1,173,811) ($1,210,260)
Cash Balance ### ### ###
Year 1 Statement of Cash Flow
$1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702 $7,332,702

$1,991,318 $2,204,180 $2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702 $7,332,702
$58,684 $90,551 $115,912 $136,222 $164,490 $195,388 $210,755 $218,074 $245,944

$2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755 $2,980,755
$22,606 $222,990 $408,073 $782,517 $1,013,420 $1,244,322 $1,621,225 $1,725,028 $4,790,431
$50,203 $39,954 $31,996 $44,533 $48,677 $24,209 $11,530 $43,906 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$3,112,248 $3,334,249 $3,536,736 $3,944,027 $4,207,341 $4,444,674 $4,824,265 $4,967,763 $8,017,130
($1,120,930) ($1,130,070) ($858,061) ($140,356) ($1,516,012) ($487,330) $894,203 $2,364,939 ($684,428)
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
$83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $83,333
($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333) ($83,333)
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
($1,204,263) ($1,213,403) ($941,394) ($223,689) ($1,599,345) ($570,663) $810,870 $2,281,606 ($767,761)
### $102,494,792 ### ### $99,730,364 ### $99,970,571 ### ###
Year 1 Balance Sheet
Assets
Current Assets
Cash $107,296,531 $106,122,719 $104,912,459 $103,708,196 $102,494,792 $101,553,399 $101,329,710
Inventory $44,418 $53,508 $92,451 $142,654 $182,608 $214,604 $259,137
Other Current Assets $0 $0 $0 $0 $0 $0 $0
Total Current Assets $107,340,949 $106,176,228 $105,004,910 $103,850,850 $102,677,400 $101,768,002 $101,588,847
Long-Term Assets
Property $0 $0 $0 $0 $0 $0 $0
Equipment $106,767 $190,101 $273,434 $356,767 $440,101 $523,434 $606,767
Other Long-Term Assets $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation ($1,112) ($3,092) ($5,941) ($9,657) ($14,241) ($19,694) ($26,014)
Total Long-Term Assets $105,655 $187,008 $267,493 $347,110 $425,859 $503,740 $580,753
Total Assets $107,446,604 $106,363,236 $105,272,403 $104,197,960 $103,103,259 $102,271,743 $102,169,600
Liabilities
Current Liabilities $0 $0 $0 $0 $0 $0 $0
Current Debt $0 $0 $0 $0 $0 $0 $0
Total Current Liabilities $0 $0 $0 $0 $0 $0 $0
Long-Term Liabilities
Long-Term Debt $0 $0 $0 $0 $0 $0 $0
Total Long-Term Liabilities $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $0 $0 $0 $0 $0 $0
Shareholders' Equity
Paid-in Capital
Owner $289,000 $289,000 $289,000 $289,000 $289,000 $289,000 $289,000
Investor $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000 $110,000,000
Total Paid-in Capital $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000 $110,289,000
Retained Earnings
Previous Retained Earnings ($286,076) ($2,842,396) ($3,925,764) ($5,016,597) ($6,091,040) ($7,185,741) ($8,017,257)
Current Earnings ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443) ($1,094,701) ($831,517) ($102,143)
Total Retained Earnings ($2,842,396) ($3,925,764) ($5,016,597) ($6,091,040) ($7,185,741) ($8,017,257) ($8,119,400)
Total Shareholders' Equity $107,446,604 $106,363,236 $105,272,403 $104,197,960 $103,103,259 $102,271,743 $102,169,600
Total Liabilities & Equity $107,446,604 $106,363,236 $105,272,403 $104,197,960 $103,103,259 $102,271,743 $102,169,600
Investor Return
Month 8 Month 9 Month 10 Month 11 Month 12 Investment Years Invested
Initial $110,000,000 5
Total $110,000,000
$99,730,364 $99,159,701 $99,970,571 ### ###
$307,814 $332,023 $343,553 $387,460 $387,460 5th Year Company Earnings
$0 $0 $0 $0 $0 Company $119,453,349
### $99,491,724 $100,314,124 ### ###
IRR
$0 $0 $0 $0 $0 Normal Case 65.1%
$690,101 $773,434 $856,767 $940,101 $1,023,434 Best Case 80.5%
$0 $0 $0 $0 $0 Worst Case 47.4%
($33,203) ($41,259) ($50,184) ($59,977) ($70,638)
$656,898 $732,175 $806,583 $880,124 $952,796
### $100,223,899 $101,120,708 ### ###
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$289,000 $289,000 $289,000 $289,000 $289,000

### $110,000,000 $110,000,000 ### ###
### $110,289,000 $110,289,000 ### ###
($8,119,400) ($9,593,924) ($10,065,101) ($9,168,292) ($6,769,240)

($1,474,524) ($471,177) $896,809 $2,399,053 ($695,089)
($9,593,924) ($10,065,101) ($9,168,292) ($6,769,240) ($7,464,328)
### $100,223,899 $101,120,708 ### ###
### $100,223,899 $101,120,708 ### ###
Investor Return Finan
Investment Multiple 5th Year Value Company Share
3.0 $330,000,000 46.0% Gross Revenue
3.0 $330,000,000 46.0% Gross Profit
Operating Profit
5th Year Multiple 5th Year Company Value Earning Before Interest & Taxes
6.0 $716,720,095 Earnings
Gross Margin Percentage

Operating Profit Percentage
EBIT Percentage
Earnings Percentage
Net Cash Flow

Cash Balance
Financial Overview
$42,059,350 $615,946,968 $615,946,968 $615,946,968 $615,946,968
$40,534,180 $614,376,043 $614,328,915 $614,280,373 $614,230,375
($7,107,615) $296,768,528 $208,822,172 $208,053,563 $206,524,688
($7,178,252) $296,572,891 $208,501,534 $207,607,925 $205,954,050
($7,178,252) $172,012,277 $120,930,890 $120,412,597 $119,453,349
96.4% 99.7% 99.7% 99.7% 99.7%

-16.9% 48.2% 33.9% 33.8% 33.5%
-17.1% 48.1% 33.9% 33.7% 33.4%
-17.1% 27.9% 19.6% 19.5% 19.4%
($8,452,555) $171,201,727 $120,245,155 $119,851,670 $119,023,987

$101,484,415 $272,686,142 $392,931,297 $512,782,967 $631,806,954
Total Source & Use of Funds
Investment $110,289,000
Debt $0
Expenses $286,076
Assets $65,954
Cash $109,936,970
Yearly Revenue
Seller Assisted Mar $12,114,960 $0 $0 $0 $0
Employee Edu. For $1,710,422 $17,436,342 $17,436,342 $17,436,342 $17,436,342
Manager Edu. Form $1,662,304 $19,286,400 $19,286,400 $19,286,400 $19,286,400
Employer Edu. Form $7,800,000 $105,000,000 $105,000,000 $105,000,000 $105,000,000
Small Business Edu $3,820,746 $61,248,600 $61,248,600 $61,248,600 $61,248,600
Large Business Edu $4,858,404 $96,251,400 $96,251,400 $96,251,400 $96,251,400
Packaged Edu. Form $5,334,773 $138,308,940 $138,308,940 $138,308,940 $138,308,940
Packaged Edu. Form $4,757,741 $178,415,286 $178,415,286 $178,415,286 $178,415,286
Year 1 Revenue
Month 1 Month 2 Month 3 Month 4 Month 5
Seller Assisted Mar $465,960 $1,941,500 $1,941,500 $1,941,500 $1,941,500
Employee Edu. For $0 $0 $0 $49,818 $207,576
Manager Edu. Form $0 $0 $0 $0 $55,104
Employer Edu. Form $0 $0 $0 $0 $0
Small Business Edu $0 $0 $0 $0 $0
Large Business Edu $0 $0 $0 $0 $0
Packaged Edu. Form $0 $0 $0 $0 $0
Packaged Edu. Form $0 $0 $0 $0 $0
Yearly Income Statement

Gross Revenue $42,059,350 $615,946,968 $615,946,968 $615,946,968 $615,946,968
Gross Profit $40,534,180 $614,376,043 $614,328,915 $614,280,373 $614,230,375
Earning Before Inte ($7,178,252) $296,572,891 $208,501,534 $207,607,925 $205,954,050
Earnings ($7,178,252) $172,012,277 $120,930,890 $120,412,597 $119,453,349
Gross Revenue $465,960 $1,941,500 $1,941,500 $1,991,318 $2,204,180
Gross Profit $438,970 $1,913,305 $1,907,535 $1,932,634 $2,113,629
Operating Profit ($2,555,208) ($1,081,388) ($1,087,985) ($1,070,727) ($1,090,116)
Earning Before Inte ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443) ($1,094,701)
Earnings ($2,556,320) ($1,083,368) ($1,090,833) ($1,074,443) ($1,094,701)
Yearly Statement of Cash Flow

Q1 Y1 Q2 Y1 Q3 Y1 Q4 Y1 Q1 Y2
Net Cash Flow ($5,024,511) ($3,359,060) ($2,393,698) $2,324,714 $42,797,057
Cash Balance $104,912,459 $101,553,399 $99,159,701 $101,484,415 $144,281,472

Net Cash Flow ($2,640,439) ($1,173,811) ($1,210,260) ($1,204,263) ($1,213,403)
Cash Balance $107,296,531 $106,122,719 $104,912,459 $103,708,196 $102,494,792
$1,941,500 $1,941,500 $0 $0 $0 $0 $0
$207,576 $207,576 $207,576 $207,576 $207,576 $207,576 $207,576
$229,600 $229,600 $229,600 $229,600 $229,600 $229,600 $229,600
$300,000 $1,250,000 $1,250,000 $1,250,000 $1,250,000 $1,250,000 $1,250,000
$0 $174,996 $729,150 $729,150 $729,150 $729,150 $729,150
$0 $0 $275,004 $1,145,850 $1,145,850 $1,145,850 $1,145,850
$0 $0 $0 $395,168 $1,646,535 $1,646,535 $1,646,535
$0 $0 $0 $0 $509,758 $2,123,992 $2,123,992
$2,678,676 $3,803,672 $2,691,330 $3,957,344 $5,718,468 $7,332,702 $7,332,702
$2,562,764 $3,667,450 $2,526,840 $3,761,956 $5,507,713 $7,114,628 $7,086,758
($826,064) ($95,822) ($1,467,335) ($463,121) $905,734 $2,408,845 ($684,428)
($831,517) ($102,143) ($1,474,524) ($471,177) $896,809 $2,399,053 ($695,089)
($831,517) ($102,143) ($1,474,524) ($471,177) $896,809 $2,399,053 ($695,089)
Q2 Y2 Q3 Y2 Q4 Y2 Q1 Y3 Q2 Y3 Q3 Y3 Q4 Y3
$42,800,338 $42,803,619 $42,800,713 $30,057,960 $30,061,241 $30,064,523 $30,061,431
$187,081,810 $229,885,429 $272,686,142 $302,744,102 $332,805,344 $362,869,866 $392,931,297
($941,394) ($223,689) ($1,599,345) ($570,663) $810,870 $2,281,606 ($767,761)
$101,553,399 $101,329,710 $99,730,364 $99,159,701 $99,970,571 $102,252,176 $101,484,415
Total Source & Use of Funds
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
Investment Debt Expenses Assets
Yearly Revenue Projections

$700,000,000
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$0
Year 1 Year 2 Year 3 Year 4
Year 1 Revenue Projections
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Month 2
Month 6
Month 1
Month 3
Month 4
Month 5
Month 7
Month 8
Month 9
Month 10
Yearly Income Statement

$700,000,000
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$700,000,000
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$0
($100,000,000)
Year 1 Year 2 Year 3 Year 4

$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
($2,000,000)
($4,000,000)
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Q1 Y4 Q2 Y4 Q3 Y4 Q4 Y4 Q1 Y5 Q2 Y5 Q3 Y5
$29,959,637 $29,962,918 $29,966,199 $29,962,917 $29,751,075 $29,754,356 $29,757,637
$422,890,934 $452,853,852 $482,820,051 $512,782,967 $542,534,042 $572,288,398 $602,046,036
Quarterly Statement of Cash Flow

$700,000,000
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$0
($100,000,000)
1 Y1
2 Y1
3 Y2
4 Y2
2 Y3
3 Y1
4 Y1
1 Y2
2 Y2
1 Y3
3 Y3
4 Y3
1 Y4
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$0
($100,000,000)
Q1 Y1
Q2 Y1
Q3 Y2
Q4 Y2
Q2 Y3
Q3 Y1
Q4 Y1
Q1 Y2
Q2 Y2
Q1 Y3
Q3 Y3
Q4 Y3
Q1 Y4
Net Cash Flow Cash Balance

$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
($20,000,000)
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Net Cash Flow Cash Balance
Operating Break-Even
$3,000,000,000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 3
Accumulated Revenue
Month Accum
$500,000,000
$0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 3
Accumulated Revenue
Month Accum
Investment Cash Flow Break-Even

$3,000,000,000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37
Month
Accumulated Cash Received Accum
nds
Assets Cash
nue Projections
Seller Assisted Marketing Plan
Year 4 Year 5
nue Projections
Packaged Edu. Formats

2/4/6/8
Packaged Edu. Formats
1/3/5/7
Large Business Edu. Format
8
Seller Assisted Marketing
Plan
Month 11
Month 8
Month 9
Month 10
Month 12
y Income Statement
Gross Revenue
Gross Profit
Operating Profit
Earning Before
Interest & Taxes
Earnings
Gross Revenue
Gross Profit
Operating Profit
Earning Before
Interest & Taxes
Earnings
ar 3 Year 4 Year 5
ome Statement
Gross Revenue
Gross Profit
Operating Profit
Earning Before
Interest & Taxes
Earnings
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Q4 Y5
$29,760,919
$631,806,954
of Cash Flow
2 Y3
2 Y4
3 Y4
4 Y4
4 Y5
3 Y3
4 Y3
1 Y4
1 Y5
2 Y5
3 Y5
Q2 Y3
Q2 Y4
Q3 Y4
Q4 Y4
Q4 Y5
Q3 Y3
Q4 Y3
Q1 Y4
Q1 Y5
Q2 Y5
Q3 Y5
Cash Balance
nt of Cash Flow
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Cash Balance
g Break-Even
27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
Revenue
Month Accumulated Expenses
27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
Revenue
Month Accumulated Expenses
sh Flow Break-Even
27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
Month
Received Accumulated Cash Used

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*** GROSS PROFIT ANALYSIS BY PRODUCT/SERVICE (Year 1 by month) ***

Cost of Goods Sold

Fixed Cost of Goods & Services

Research & Development

General & Administrative

Cost of Goods Sold

*** BALANCE SHEET (Year 1 by month) ***

Plant & Equipment

Liabilities & Owners' Equity

Long Term Debt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Deduct items not increasing cash

Financing & Other:

Change in Cash Balance

*** INCOME STATEMENT (Years 1 - 5) ***

Cost of Goods Sold

Assets Year 1 Year 2 Year 3 Year 4 Year 5

Plant & Equipment

Liabilities & Owners' Equity

Long Term Debt $0 $0 $0 $0 $0

Total Liabilities & Equity $15,608,866 $103,755,462 $241,848,495 $382,228,089 $482,124,045

*** CASH FLOWS (STATEMENT of CHANGES in FINANCIAL POSITION: Years 1 - 5) ***

Sources of Cash: Year 1 Year 2 Year 3 Year 4 Year 5

Deduct items not increasing cash

Cash from Operations $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474

Financing & Other:

Increase/(Decrease) in Cash $3,891,073 $84,372,421 $132,152,468 $139,964,349 $104,723,474

Change in Cash Balance

Ratios Year 1 Year 2 Year 3 Year 4 Year 5

*** BREAK-EVEN ANALYSIS (Year 1 by month) ***

Income from Operations Analysis

Net Income After Taxes Analysis

Units Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Unit Price Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Revenue Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Unit Cost Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Direct Cost of Revenue $26,990 $28,195 $33,965 $58,684 $90,551 $115,912

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14

Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22

Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22

Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22

Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22

Month 23 Month 24 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30

Month 23 Month 24 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30

Month 23 Month 24 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30

Month 31 Month 32 Month 33 Month 34 Month 35 Month 36 Month 37 Month 38

Month 31 Month 32 Month 33 Month 34 Month 35 Month 36 Month 37 Month 38

Month 31 Month 32 Month 33 Month 34 Month 35 Month 36 Month 37 Month 38

Month 39 Month 40 Month 41 Month 42 Month 43 Month 44 Month 45 Month 46

Month 39 Month 40 Month 41 Month 42 Month 43 Month 44 Month 45 Month 46

Month 39 Month 40 Month 41 Month 42 Month 43 Month 44 Month 45 Month 46

Month 47 Month 48 Month 49 Month 50 Month 51 Month 52 Month 53 Month 54

Month 47 Month 48 Month 49 Month 50 Month 51 Month 52 Month 53 Month 54

Month 47 Month 48 Month 49 Month 50 Month 51 Month 52 Month 53 Month 54

Month 55 Month 56 Month 57 Month 58 Month 59 Month 60

Month 55 Month 56 Month 57 Month 58 Month 59 Month 60

Month 55 Month 56 Month 57 Month 58 Month 59 Month 60

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Payroll Month 1 Month 2 Month 3 Month 4 Month 5 Month 6

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15

Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15

MDR, Inc.'s Financial Summary

MDR, Inc.'s Financial Summary

* GROSS PROFIT ANALYSIS BY PRODUCT/SERVICE (Year 1 by month) *

* BALANCE SHEET (Year 1 by month) *

* INCOME STATEMENT (Years 1 - 5) *

* CASH FLOWS (STATEMENT of CHANGES in FINANCIAL POSITION: Years 1 - 5) *

* BREAK-EVEN ANALYSIS (Year 1 by month) *