Variables

INR :: USD
INR ::
Churn Rate/month
Maintenance Cost/ subscriber
ARPU

45
55
0.030
$3.00
$37.00

Subscriber Activations Per

Month.
Total Number of Active
Subscribers
Activation Revenue Per
Month($)
Additions
Number of WBNOs
Avalibality Fee
Initial Subscribers
Additional Revenue
Monthly Revenue
Total No. of Subs
Cummulative Total Revenue
to SIS

Jul-07

FY -07
Aug-07

Sep-07

Oct-07

5000

6000

6480

5000

10850

17005

840

1008

1089

25000

1
0
25000
4200
0
30000

1
0
25000
4200
0
35850

1
0
25000
4200
0
42005

$64,200.00

$5,040.00

$5,208.00

$5,288.64

Month 2

Month 3

Month 4

20.00%

20.00%

18.00%

5000
30000

6000
36000

6480
42480

20.00%

20.00%

20.00%

1
1
60000
25000
64200

PRICE MODEL
Monthly Fee
Setup Fee
Price Per Subscriber
Activation $

$$288,000

WBNO

Month 1

Growth rate for WBNO 1

Subscriber base additions
/month
Total
Growth rate for WBNO 2

0.17
0.17

25000
25000

Subscriber base additions

/month
Total
Growth rate for WBNO 3
Subscriber base additions
/month
Total
Growth rate for WBNO 4
Subscriber base additions
/month
Total
Growth rate for WBNO 5
Subscriber base additions
/month
Total
Growth rate for WBNO 6
Subscriber base additions
/month
Total
Growth rate for WBNO 7
Subscriber base additions
/month
Total
Growth rate for WBNO 8
Subscriber base additions
/month
Total
Growth rate for WBNO 9
Subscriber base additions
/month
Total
Growth rate for WBNO 10
Subscriber base additions
/month
Total

10000
10000

8000
8000

2000
12000

2400
14400

2880
17280

10.00%

10.00%

12.00%

800
8800

880
9680

1162
10842

Nov-07

Dec-07

Jan-08

Feb-08

FY-'08
Mar-08

5098

5709

10838

12478

15045

16564

18192

21592

26654

36692

48070

61672

76386

92287

856

959

1821

2096

2528

2783

3056

1
0
25000
4200
0
46592

1
0
25000
4200
0
51654

1
2
60000
54860
69216
0
91552

2
0
54860
9216
0
102929

2
0
54860
9216
0
116532

2
0
54860
9216
0
131246

2
0
54860
9216
0
147146

$5,056.40

$5,159.16

$71,037.27

$11,312.81

$11,744.00

$11,999.15

$12,272.73

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

12.00%

12.00%

11.00%

11.00%

12.00%

12.00%

11.00%

5098
47578

5709
53287

5862
59148

6506
65655

7879
73533

8824
82357

9059
91417

20.00%

20.00%

20.00%

20.00%

20.00%

18.00%

18.00%

Apr-08

May-08

3456
20736

4147
24883

4977
29860

5972
35832

7166
42998

7740
50738

9133
59871

12.00%

13.00%

15.00%

15.00%

20.00%

20.00%

18.00%

1301
12143

1579
13721

2058
15779

2367
18146

3629
21775

4355
26131

4703
30834
15.00%

9000
9000

10000
10000

1500
11500

20.00%

50.00%

50.00%

1800
10800

5400
16200

8100
24300

Jun-08

Jul-08

Aug-08

Sep-08

Oct-08

Nov-08

Dec-08

25469

29322

33795

36256

38087

43084

47190

114986

140858

170428

201571

233611

269686

308785

4279

4926

5678

6091

6399

7238

7928

1
3
60000
91244
75329
0
206230

3
0
91244
15329
0
232102

3
0
91244
15329
0
261672

3
0
91244
15329
0
292815

3
0
91244
15329

3
0
91244
15329

3
0
91244
15329

324855

360930

400029

$79,607.70

$20,255.00

$21,006.53

$21,420.08

$21,727.58

$22,567.04

$23,256.88

Month 12

Month 13

Month 14

Month 15

Month 16

Month 17

Month 18

10.00%

10.00%

10.00%

9.00%

9.00%

9.00%

8.00%

9142
100558

10056
110614

11061
121676

10951
132626

11936
144563

13011
157573

12606
170179

18.00%

18.00%

18.00%

18.00%

15.00%

15.00%

15.00%

10777
70647

12717
83364

15006
98369

17706
116076

17411
133487

20023
153510

23027
176537

18.00%

18.00%

18.00%

15.00%

15.00%

15.00%

15.00%

5550
36384

6549
42933

7728
50661

7599
58260

8739
67000

10050
77049

11557
88607

15.00%

15.00%

17.00%

17.00%

17.00%

15.00%

15.00%

1725
13225

1984
15209

2585
17794

3025
20819

3539
24359

3654
28012

4202
32214

12.00%

14.00%

15.00%

15.00%

15.00%

15.00%

8000
8000

960
8960

1254
10214

1532
11747

1762
13509

2026
15535

2330
17865

50.00%

80.00%

80.00%

70.00%

40.00%

40.00%

40.00%

12150
36450

29160
65610

52488
118098

82669
200767

80307
281073

112429
393503

157401
550904

17.00%

20.00%

850
5850

1170
7020

5000
5000

30.00%
5000
5000

1500
6500

5000
5000

Jan-09

Feb-09

FY -'09
Mar-09

58218

61211

69093

78084

83465

92823

477501

357740

408218

465064

529196

596785

671705

1129055

9781

10283

11608

13118

14022

15594

80220

1
4
60000
128290
81553

4
0
128290
21553

4
0
128290
21553

1
5
60000
159536
86802

5
0
159536
26802

5
0
159536
26802

1
6
60000
2760094
523696

486030

536509

593355

688733

756321

831241

3889149

$91,333.39

$31,836.15

$33,160.32

$99,920.18

$40,824.18

$42,396.45

$603,915.96

Month 19

Month 20

Month 21

Month 22

Month 23

Month 24

Month 25

8.00%

6.50%

6.50%

6.50%

6.50%

6.50%

5.50%

13614
183794

11947
195740

12723
208463

13550
222014

14431
236444

15369
251813

13850
265663

15.00%

14.00%

14.00%

14.00%

12.00%

12.00%

12.00%

Apr-09

May-09

Jun-09

Jul-09

26481
203017

28422
231440

32402
263841

36938
300779

36094
336873

40425
377298

45276
422573

15.00%

15.00%

15.00%

12.00%

12.00%

11.00%

10.00%

13291
101898

15285
117183

17577
134760

16171
150931

18112
169043

18595
187638

18764
206401

15.00%

15.00%

15.00%

15.00%

18.00%

18.00%

18.00%

4832
37046

5557
42603

6390
48994

7349
56343

10142
66484

11967
78452

14121
92573

15.00%

15.00%

15.00%

15.00%

15.00%

18.00%

18.00%

2680
20545

3082
23627

3544
27171

4076
31246

4687
35933

6468
42401

7632
50033

34.00%

32.00%

29.00%

27.00%

19.00%

17.00%

17.00%

187307
738211

236227
974438

282587
1257025

339397
1596422

303320
1899742

322956
2222698

377859
2600557

20.00%

29.00%

33.00%

21.00%

21.00%

19.00%

15.00%

1404
8424

2443
10867

3586
14453

3035
17488

3673
21161

4021
25181

3777
28958

40.00%

45.00%

43.00%

31.00%

26.00%

21.00%

17.00%

2600
9100

4095
13195

5674
18869

5849
24718

6427
31145

6540
37685

6407
44092

50.00%

60.00%

55.00%

41.00%

32.00%

27.00%

22.00%

2500
7500

4500
12000

6600
18600

7626
26226

8392
34618

9347
43965

9672
53638

23.00%

35.00%

29.00%

22.00%

19.00%

18.00%

1150
6150

2153
8303

2408
10710

2356
13066

2483
15549

2799
18348

5000
5000

Aug-09

Sep-09

Oct-09

Nov-09

Dec-09

Jan-10

Feb-10

443275

466688

486300

500795

551004

516220

600093

1538458

1958992

2386523

2815722

3282255

3700007

4189100

74470

78404

81698

84134

92569

86725

100816

6
0
2760094
463696

6
0
2760094
463696

6
0
2760094
463696

6
0
2760094
463696

1
7
60000
2808870
531890

7
0
2808870
471890

7
0
2808870
471890

4298552

4719086

5146616

5575816

6091125

6508877

6997970

$538,165.85

$542,099.24

$545,394.20

$547,829.32

$624,458.93

$558,615.13

$572,705.92

Month 26

Month 27

Month 28

Month 29

Month 30

Month 31

Month 32

5.50%

5.50%

5.50%

5.50%

5.50%

5.50%

5.00%

14611
280274

15415
295690

16263
311953

17157
329110

18101
347211

19097
366308

18315
384623

11.00%

9.50%

9.50%

9.50%

8.00%

8.00%

8.00%

46483
469056

44560
513617

48794
562410

53429
615839

49267
665106

53209
718315

57465
775780

8.00%

8.00%

8.00%

6.00%

6.00%

6.00%

6.00%

16512
222914

17833
240747

19260
260006

15600
275607

16536
292143

17529
309672

18580
328252

19.00%

22.00%

19.00%

20.00%

20.00%

20.00%

17.00%

17589
110162

24236
134397

25536
159933

31987
191920

38384
230303

46061
276364

46982
323346

20.00%

20.00%

20.00%

20.00%

22.00%

18.00%

17.00%

10007
60040

12008
72048

14410
86457

17291
103749

22825
126573

22783
149357

25391
174747

13.00%

12.00%

11.00%

10.00%

10.00%

8.00%

9.00%

338072
2938630

352636
3291265

362039
3653304

365330
4018635

401863
4420498

353640
4774138

429672
5203811

13.00%

12.00%

11.00%

10.00%

9.00%

8.00%

7.00%

3765
32723

3927
36650

4031
40681

4068
44749

4027
48777

3902
52679

3688
56367

14.00%

12.00%

12.00%

11.00%

10.00%

8.00%

8.00%

6173
50265

6032
56296

6756
63052

6936
69988

6999
76987

6159
83146

6652
89797

19.00%

18.00%

17.00%

15.00%

15.00%

15.00%

13.00%

10191
63829

11489
75318

12804
88122

13218
101340

15201
116541

17481
134023

17423
151445

21.00%

20.00%

16.00%

12.00%

11.00%

10.00%

10.00%

3853
22201

4440
26641

4263
30904

3708
34612

3807
38420

3842
42262

4226
46488

FY -'10
Mar-10

Apr-10

May-10

Jun-10

Jul-10

Aug-10

Sep-10

589932

572082

549291

595638

547140

682766

763801

4653359

5085841

5482557

5913718

6283447

6777710

7338179

99109

96110

92281

100067

91920

114705

128319

1
8
60000
2905851
548183

8
0
2905851
488183

8
0
2905851
488183

1
9
60000
3123533
584754

9
0
3123533
524754

1
10
60000
3195267
596805

10
0
3195267
536805

7559211

7991692

8388408

9037251

9406980

9972977

10533446

$647,291.68

$584,292.85

$580,463.91

$684,820.82

$616,673.08

$711,509.62

$665,123.43

Month 33

Month 34

Month 35

Month 36

Month 37

Month 38

Month 39

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

5.00%

19231
403854

20193
424047

21202
445249

22262
467512

23376
490887

24544
515431

25772
541203

6.00%

6.00%

6.00%

6.00%

5.50%

5.50%

5.50%

46547
822327

49340
871666

52300
923966

55438
979404

53867
1033272

56830
1090102

59956
1150057

6.00%

6.00%

5.00%

5.00%

5.00%

5.00%

5.00%

19695
347947

20877
368824

18441
387265

19363
406628

20331
426960

21348
448308

22415
470723

15.00%

12.00%

12.00%

10.00%

8.00%

8.00%

8.00%

48502
371848

44622
416470

49976
466446

46645
513091

41047
554138

44331
598469

47878
646346

16.00%

15.00%

15.00%

15.00%

13.00%

13.00%

13.00%

27960
202707

30406
233113

34967
268080

40212
308292

40078
348369

45288
393657

51175
444833

8.00%

7.00%

6.00%

6.00%

5.00%

5.50%

6.00%

416305
5620116

393408
6013524

360811
6374335

382460
6756795

337840
7094635

390205
7484840

449090
7933930

8.00%

9.00%

8.00%

8.00%

8.00%

7.00%

6.00%

4509
60876

5479
66355

5308
71663

5733
77396

6192
83588

5851
89439

5366
94805

8.00%

8.00%

6.00%

5.00%

6.00%

5.00%

6.00%

7184
96981

7758
104739

6284
111024

5551
116575

6994
123569

6178
129748

7785
137533

11.00%

10.00%

8.00%

9.00%

8.00%

7.00%

7.00%

16659
168104

16810
184915

14793
199708

17974
217682

17415
235096

16457
251553

17609
269162

9.00%

7.00%

8.00%

7.00%

7.00%

7.00%

7.00%

4184
50672

3547
54219

4337
58556

4099
62655

4386
67041

4693
71734

5021
76755

Figures in USD

Financial Summary
FY-07

FY-08

FY-09

FY-10

Total

Revenue

Particulars

74448

276159

2091203

7339179

9780990

Direct Cost

314595

2272644

1805164

1532575

5924978

Gross Margin
Gross Margin %

(240147)

(1996484)

286039

5806604

3856011

-323%

-723%

14%

79%

39%

Overheads

134106

49709

250944

880701

1315460

EBIT
EBIT %
Total No.of WBNOs in FY

(374253)

(2046193)

35095

4925902

2540551

-502.70%

-740.95%

1.68%

67.12%

25.97%

10

Particulars
Revenues
Revenue

FY 07
From July
74448

FY 08

FY 09

All figures in USD

Fy 10

276159

2091203

7339179

276159

2091203

7339179

Upfront charges
Set up charges

288000

Total revenues

362448

Expenses
Travel Expenses

1186

7769

16341

28323

Manpower Cost

19014

161037

382484

789542

280600

336720

336720

336720

1666666

999999

333333

Project Contingency 5%

14981

108221

85960

72980

Overheads - S & D

25371

11046

62736

220175
660526

AMC & Support Charges

Depreciation (Capex)

Overheads - S & GA

108734

38662

188208

Opportunity cost of funds(12%)

395518

441148

341274

Total costs

845405

2771269

2413724

2441599

Contribution
contribution % of revenues
Overheads S&D
Overheads S & GA

-482957

-2495110

-322521

4897579

-133.25%
7.00%

-903.50%
4.00%

-15.42%
3.00%

66.73%
3.00%

30.00%

14.00%

9.00%

9.00%

Total
9780990
0
288000
10068990

53619
1352078
1290760
2999998
282142
319329
996131
1177940
8471997
1596992
15.86%

Particulars
Hardware Cost
Software costs
Depriciation Hardware(3 Years)
Depriciation Software(1 Years)
Total Depriciation
Annual Maintenace Charges
Hardware @ 10%
Software @ 10%
Sales Tax
Total AMC

Capex Costs in US $
FY 07
FY 08

FY 09

1000000

2000000

0
0

333333

333333

1333333

666666

1666666

999999

50000

100000

100000

200000

200000

200000

30600

36720

36720

280600

336720

336720

FY 10
0
0
333333
0
333333
100000
200000
36720
336720

FY 07

FY 08

FY 09

FY 10

Month
Jul-07
Aug-07
Sep-07

M3

M2

M1

M0

On Site
P1

P2

P0

Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08

Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09

Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10

Resource
Grade

Kolkata CTC
(INR)

Others
(INR)

Cost/
Month rs

M3

2,020,613

198,284

M2

1,605,612

157,706

M1

1,171,413

115,251

M0

906,401

89,339

P2

666,122

65,845

P1

475,235

47,180

P0

317,215

31,729

OG

244,277

24,598

WP M2

3,600,000

352,000

WP M1

3,240,000

316,800

WP M0

2,700,000

264,000

WP P2

2,565,000

250,800

WP P1

2,430,000

237,600

S6

281,892

28,276

S5

240,000

24,179

OG

S6

S5

Total

M3

M2

M1

M0

24598

24598

24598

24598

24598

24598

129137.73
24598

24598

24598

24598

24598

24598

49195

49195

49195

49195

49195

49195

49195

49195

49195

49195

73793

73793

73793

73793

73793

73793

73793

73793

###
73793

73793

73793

73793

73793

73793

98391

98391

98391

98391

98391

98391

122988

122988

122988

122988

122988

122988

147586

147586

147586

147586

147586

147586

147586

147586

147586

147586

172184

172184

172184

172184

172184

172184

196781

196781

196781

196781

196781

196781

221379

221379

221379

221379

245977

245977

245977

245977

###

6219407

9%

Attrition and
occupancy
rate

75.0%

increment
rate

15.0%

INR:US$

P2

Offsite
P1

INR 45

P0

OG

S6

S5

Total

65845

72538

138383

65845

72538

138383

65845

72538

138383

726511.43
65845

72538

138383

65845

72538

138383

65845

72538

138383

65845

31729

145077

242651

65845

31729

145077

242651

65845

31729

145077

242651

65845

31729

145077

242651

65845

31729

145077

242651

65845

31729

241795

339369

65845

31729

241795

339369

65845

31729

241795

339369

65845

31729

241795

339369

###
65845

31729

241795

339369

65845

31729

241795

339369

65845

31729

241795

339369

65845

31729

338513

436087

65845

31729

338513

436087

65845

31729

338513

436087

131689

63459

386871

582020

131689

63459

386871

582020

131689

63459

386871

582020

131689

63459

483589

678738

131689

63459

483589

678738

131689

63459

483589

678738

131689

63459

483589

678738

131689

63459

483589

678738

131689

63459

580307

775455

131689

63459

580307

775455

131689

63459

580307

775455

197534

47180

63459

628666

936839

197534

47180

63459

628666

936839

197534

47180

63459

628666

936839

197534

47180

63459

725384

1033557

197534

47180

63459

725384

1033557

263379

141541

95188

725384

1225492

263379

141541

95188

725384

1225492

###

29309998

Travellers No.of tickets

FY 07

Other
Expenses
/day

Employee
Allowance/day

Jul-07
Aug-07
Sep-07

$5.27

$1.20

$5.27

$1.20

$5.27

$1.20

Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08

$5.27

$1.20

$5.27

$1.20

$5.27

$1.20

$10.54

$2.40

$10.54

$2.40

$10.54

$2.40

$10.54

$2.40

$10.54

$2.40

$15.81

$3.60

$15.81

$3.60

$15.81

$3.60

$15.81

$3.60

Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09

$15.81

$3.60

$15.81

$3.60

$15.81

$3.60

$21.08

$4.80

$21.08

$4.80

$21.08

$4.80

$26.35

$6.00

$26.35

$6.00

$26.35

$6.00

$31.62

$7.20

$31.62

$7.20

$31.62

$7.20

Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10

$31.62

$7.20

$31.62

$7.20

$36.89

$8.40

$36.89

$8.40

$36.89

$8.40

$42.16

$9.60

$42.16

$9.60

$42.16

$9.60

$47.43

$10.80

Total for FY 07

FY 08

Total for FY 08

FY 09

Total for FY 09

FY 10

Total For FY 10

$47.43

$10.80

10

$52.70

$12.00

10

$52.70

$12.00

Allowance

$5.27 Other Exp

$1.20

Return ticket
Accomodation(h
otel)

No.of persons
having
Accomomdation
(hotel)

No.of persons
having
Accomomdation
(Apartmentl)

Total monthly
expenses ($)

$617.43

$284.10

$284.10

$1,185.63
0

$284.10

$284.10

$284.10

$901.53

$568.20

$568.20

$568.20

$568.20

$1,185.63

$852.30

$852.30

$852.30

$852.30

$852.30

$852.30

$1,469.73

$1,136.40

$1,136.40

$1,753.83

$1,420.50

$1,420.50

$2,037.93

$1,704.60

$7,769.17

$1,704.60

$16,341.40
0

$1,704.60

$1,704.60

$2,322.03

$1,988.70

$1,988.70

$2,606.13

$2,272.80

$2,272.80

$2,890.23

$2,556.90

10

$3,174.33

10

$2,841.00

$28,322.83

INR 15,000 INR:US$

Accomodation
$18.00 (apartment)

INR 45
$3.00

FY
FY 07

FY 08

FY 09

FY 10

Month
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10

Total no.of WBNOs

1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
3
3
3
4
4
4
5
5
5
6
6
6
6
6
7
7
7
8
8
8
9
9
10
10

Number of People onsite for 11MVNO

Numbe of People offshore 4
Ratio of offsite to
onshore
4

M3

M2

M1

M0

On Site Head Count

P2

On Site Head Count

P1
P0

OG
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
3
3
3
4
4
4
5
5
5
6
6
6
6
6
7
7
7
8
8
8
9
9
10
10

S6

S5

Total
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
3
3
3
4
4
4
5
5
5
6
6
6
6
6
7
7
7
8
8
8
9
9
10
10

M3

M2

M1

M0

Off Site Head Count

P2
P1
P0
1
0
1
0
1
0
1
0
1
0
1
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
0
2
2
0
2
2
0
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
4
3
3
4
3
3

OG

S1

S0
3
3
3
3
3
3
6
6
6
6
6
10
10
10
10
10
10
10
14
14
14
16
16
16
20
20
20
20
20
24
24
24
26
26
26
30
30
30
30

Total
4
4
4
4
4
4
8
8
8
8
8
12
12
12
12
12
12
12
16
16
16
20
20
20
24
24
24
24
24
28
28
28
32
32
32
36
36
40
40

Grand Total
5
5
5
5
5
5
10
10
10
10
10
15
15
15
15
15
15
15
20
20
20
25
25
25
30
30
30
30
30
35
35
35
40
40
40
45
45
50
50

Cash Flow Model for WBNO

Month 1
Adds/Month
Active Units
ARPU (less taxes)($)
Gross Revenue($)
Avg Wholesale Cost/Unit
Avg Profit/Unit($)
Avg Margin
Net Acquisition Cost/Unit
Net Acquisition Costs
Churn
Maintenance/Unit
Maintenance cost ($)
Net Income
CUMM Net Income

Adds/Month -- new activations

Active Units -- total subscribers
after factoring in churn.
ARPU -- Average Revenue Per Unit.
Avg Wholesale Cost/Unit -- the
charges incurred from wholesale
service providers for the retail usage
(ARPU).
Avg Gross Profit/Unit -- wholesale
costs subtracted from retail revenue.
Avg Gross Margin -- gross profit
divided by sales revenue. Actual
margins are determined by the
combination of (1) costs from
wholesale contracts, (2) revenues
from retail offerings.
Net Acquisition Cost/Unit -calculated on next worksheet
Churn -- subscriber attrition as a
percentage of the total subscriber
base.

Month 2

Month 3

25000

5000

6000

25000

29250

34373

37

37

37

925000

1082250

1271783

19.9

19.9

19.9

17.10

17.10

17.10

46%

46%

46%

140.00

140.00

140.00

3500000.00

700000.00

840000.00

3%

3%

3%

3.00

3.00

3.00

75000.00

87750.00

103117.50

(3147500)

(287575)

(355348)

(3147500)

(3435075)

(3790423)

Maintenance/Unit -- the ongoing

direct costs to support the customer,
such as Call Center, IVR, and billing.
CUMM (cumulative) Net Revenue -a running total of how much is made
or lost, and does not include other
start-up costs, G&A, or cash reserve
requirements; these need to be
factored independently.

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

6480

5098

5709

5862

6506

7879

39821

43724

48122

52540

57470

63624

37

37

37

37

37

37

1473389

1617799

1780509

1943972

2126387

2354102

19.9

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

140.00

907200.00

713664.00

799303.68

820618.44

910886.47

1103000.71

3%

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

3.00

119463.98

131172.86

144365.61

157619.32

172409.74

190873.17

(345719)

(97152)

(120785)

(79808)

(100561)

(205897)

(4136142)

(4233294)

(4354079)

(4433887)

(4534447)

(4740344)

Month 10

Month 11

Month 12

Month 13

Month 14

Month 15

8824

9059

9142

10056

11061

10951

70540

77483

84300

91827

100133

108080

37

37

37

37

37

37

2609968

2866863

3119099

3397592

3704937

3998969

19.9

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

140.00

1235360.80

1268303.75

1279833.79

1407817.16

1548598.88

1533112.89

3%

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

3.00

211618.99

232448.36

252899.92

275480.43

300400.28

324240.69

(240752)

(175796)

(91204)

(113059)

(136718)

(9182)

(4981096)

(5156892)

(5248096)

(5361155)

(5497873)

(5507055)

Month 16

Month 17

Month 18

Month 19

Month 20

Month 21

11936

13011

12606

13614

11947

12723

116774

126282

135099

144660

152267

160422

37

37

37

37

37

37

4320646

4672420

4998665

5352436

5633887

5935626

19.9

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

140.00

1671093.05

1821491.43

1764822.81

1906008.63

1672522.57

1781236.54

3%

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

3.00

350322.61

378844.89

405297.18

433981.30

456801.63

481266.94

(24577)

(40920)

140074

133703

474445

480718

(5531631)

(5572552)

(5432478)

(5298774)

(4824329)

(4343611)

Month 22

Month 23

Month 24

Month 25

Month 26

Month 27

13550

14431

15369

13850

14611

15415

169160

178516

188529

196723

205433

214685

37

37

37

37

37

37

6258911

6605086

6975583

7278755

7601017

7943345

19.9

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

140.00

1897016.91

2020323.01

2151644.01

1938962.28

2045605.20

2158113.49

3%

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

3.00

507479.29

535547.55

565587.78

590169.34

616298.66

644054.98

488136

496750

506619

834834

850998

868945

(3855475)

(3358725)

(2852106)

(2017273)

(1166274)

(297329)

Month 28

Month 29

Month 30

Month 31

Month 32

Month 33

16263

17157

18101

19097

18315

19231

224507

234930

245983

257700

268284

279467

37

37

37

37

37

37

8306773

8692393

9101360

9534893

9926515

10340272

19.9

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

140.00

2276809.73

2402034.26

2534146.15

2673524.19

2564152.74

2692360.38

3%

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

3.00

673522.12

704788.61

737948.09

773099.45

804852.60

838400.45

888744

910472

934210

960043

1218654

1248122

591415

1501887

2436097

3396140

4614795

5862916

Month 34

Month 35

Month 36

Month 37

Month 38

20193

21202

22262

23376

24544

291276

303740

316890

330759

345380

37

37

37

37

37

10777194

11238365

11724925

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

2826978.40

2968327.32

3116743.68

3272580.87

3436209.91

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

873826.55

911218.77

950669.57

992276.21

1036141.00

1280006

1314401

1351403

1391117

1433653

7142923

8457324

9808727

11199844

12633497

Month 39

Month 40

Month 41

Month 42

Month 43

25772

5000

5000

5000

5000

360790

354967

349318

343838

338523

37

37

37

37

37

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

3608020.41

700000.00

700000.00

700000.00

700000.00

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

1082371.49

1064900.35

1047953.34

1031514.74

1015569.29

1479126

4305032

4225381

4148119

4073176

14112623

18417654

22643035

26791154

30864330

Month 44

Month 45

Month 46

Month 47

Month 48

5000

5000

5000

5000

5000

333367

328366

323515

318810

314246

37

37

37

37

37

19.9

19.9

19.9

19.9

19.9

17.10

17.10

17.10

17.10

17.10

46%

46%

46%

46%

46%

140.00

140.00

140.00

140.00

140.00

700000.00

700000.00

700000.00

700000.00

700000.00

3%

3%

3%

3%

3%

3.00

3.00

3.00

3.00

3.00

1000102.21

985099.15

970546.17

956429.79

942736.89

4000480

3929966

3861567

3795220

3730863

34864810

38794776

42656343

46451563

50182427

Acquisition costs
Marketing
Distribution
CPE costs
Total

Amount in USD
15
25
100
140