BRANDS 2011 2012 2013 2014

Joy 28% 29% 32% 31%

Domex 23% 23% 20% 21%
Tuff Cleaning
14% 15% 16% 16%
Solution
Breeze Liquid
13% 12% 11% 13%
Solution
Armor All 10% 8% 8% 7%
Other Brands 12% 13% 13% 12%

Historical Market % Market Share of

Years % Market Value Demand Factor
Demand Other Brands
2011 3,654,000 12% 423,864 1.00
2012 4,322,000 13% 557,538 1.00
2013 4,916,700 13% 658,838 1.00
2014 5,475,200 12% 673,450 1.00
2015 6,113,600 11% 654,155 1.00

Market Segment % Market Share of Historical Market

Years Historical Supply
Value Other Brands Demand

2011 34,825 12% 4,039,700 3,482,500

2012 38,004 13% 4,902,516 3,800,400
2013 45,119 13% 6,045,946 4,511,900
2014 51,653 12% 6,353,319 5,165,300
2015 58,037 11% 6,209,959 5,803,700

Estimated Market
Years Projected Demand Projected Supply GAP
Share
2017 6,113,600 5,270,345 843,255 18.18%
2018 6,113,600 4,739,225 1,374,375 16.67%
2019 6,113,600 4,562,388 1,551,212 20.83%
2020 6,113,600 4,970,407 1,143,193 23.08%
2021 6,113,600 5,713,645 399,955 41.67%

Predetermined FOH Rate per Unit

Particulars 2017 2018 2019
Budgeted FOH
Depreciation 15,700 15,700 15,700
Salaries and Wages 1,104,000 1,133,808 1,164,421
Rental Expenses 180,000 24,000 24,000
Budgeted Capacity 365,400 432,200 491,670
Predetermined FOH Rate 4 3 2
 Costs Data for Period 2017 - 2021
Particulars 2017 2018 2019
Total VOH per Unit 72 73.89 75.88
Total FOH per Unit 3.56 2.72 2.45
Total Absorption Costs 75.50 76.60 78.33
Total Variable Costs 72 73.89 75.88

Annual Depreciation Table

Office Equipment Furniture and Fixtures
Cost 57,000.00 Cost 7
Salvage Value 10,000.00 Salvage Value 1
2017 9,400.00 2017 6
2018 9,400.00 2018 6
2019 9,400.00 2019 6
2020 9,400.00 2020 6
2021 9,400.00 2021 6
2022 6
2023 6
2024 6
2025 6
2026 6
2027 6

Annual Salaries and Wages

Particulars 2017 2018 2019
Managing Partner 180,000.00 184,860.00 189,851.22
Production & Marketing Manager 180,000.00 184,860.00 189,851.22
Financial Manager 180,000.00 184,860.00 189,851.22

Office Staff #1 114,000.00 117,078.00 120,239.11

Office Staff #2 114,000.00 117,078.00 120,239.11
Laborer (Production) 84,000.00 86,268.00 88,597.24
Laborer (Production) 84,000.00 86,268.00 88,597.24

Laborer (Design, Assembly) 84,000.00 86,268.00 88,597.24

Laborer (Design, Assembly) 84,000.00 86,268.00 88,597.24

TOTAL 1,104,000.00 1,133,808.00 1,164,420.82

Projected Market % Market Share of Projected Market

Years Demand Factor
Demand Other Brands Share Value
2017 4,039,700 12% 468,605 1.00
2018 4,902,516 13% 632,425 1.00
2019 6,045,946 13% 810,157 1.00
2020 6,353,319 12% 781,458 1.00
2021 6,209,959 11% 664,466 1.00

Projected Market
Years Supply Factor Projected Supply
Demand
2017 6,113,600 0.86 5,257,696
2018 6,113,600 0.78 4,768,608
2019 6,113,600 0.75 4,585,200
2020 6,113,600 0.81 4,952,016
2021 6,113,600 0.93 5,685,648
 2015
31%
24%

14%

10%

10%
11%

Total Target Market Years Demand Less

423,864 2013 38,004 34,825
557,538 2014 45,119 38,004
658,838 2015 51,653 45,119
673,450 2016 58,037 51,653
654,155

Total Target
Supply Factor
Market Supply

0.86 365,400
0.78 432,200
0.75 491,670
0.81 547,520
0.93 611,360

Estimated Market Market Share of

Value Share "Other Brands"
17,785 97,818
29,549 177,294
43,305 207,862
32,449 140,613
17,831 42,795

t
2020 2021

15,700 15,700
1,195,860 1,228,148
24,000 24,000
547,520 611,360
2 2
 2020 2021
77.93 80.04
2.26 2.07
80.19 82.11
77.93 80.04

e and Fixtures
78,000.00
15,000.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00
6,300.00

2020 2021
194,977.20 200,241.59
194,977.20 200,241.59
194,977.20 200,241.59

123,485.56 126,819.67
123,485.56 126,819.67
90,989.36 93,446.07
90,989.36 93,446.07

90,989.36 93,446.07
90,989.36 93,446.07

1,195,860.18 1,228,148.40

Total Target Market

468,605
632,425
810,157
781,458
664,466
 Increase (Decrease)
3,179
7,115
6,534
6,384
5803.00

Variable Manufacturing
2017 2018 2019 2020 2021
Costs per Unit

Direct Materials
Lemon (3 pcs.) 16.00 16.43 16.88 17.33 17.80
Baking Soda (1/2 pack) 21.25 21.82 22.41 23.02 23.64
Vinegar (1/2 Bottle) 3.75 3.85 3.96 4.06 4.17
Bottle (250 ml) 1.50 1.54 1.58 1.62 1.67
Direct Labor
Production Costs per Unit 4.72 4.85 4.98 5.12 5.25
Assembly Costs per Unit
4.72 4.85 4.98 5.12 5.25
Packaging Costs per Unit
Variable MOH
Utilities 20.00 20.54 21.09 21.66 22.25
Total 71.95 73.89 75.88 77.93 80.04
GREENCARE CO. LTD
PROJECTED STATEMENT OF COMPREHENSIVE INCOME

2017 2018 2019 2020 2021

REVENUE
Sales 2,014,235 3,395,360 5,088,260 3,903,102 2,196,211
2,014,235 3,395,360 5,088,260 3,903,102 2,196,211

LESS: COST OF REVENUES

Cost of Good Solds 1,279,564 2,183,342 3,286,118 2,528,842 1,427,162
OTHER EXPENSES
Other Expenses - - - - -
1,279,564 2,183,342 3,286,118 2,528,842 1,427,162
GROSS PROFIT 734,672 1,212,018 1,802,141 1,374,260 769,049

OPERATING EXPENSES
General and Administrative 963,700 828,436 849,732 871,603 894,064
963,700 828,436 849,732 871,603 894,064

NET OPERATING LOSS (229,028) 383,582 952,410 502,658 (125,015)

PROVISION FOR INCOME TAX 115,075 285,723 150,797 (37,504)

NET OPERATING LOSS (229,028) 268,508 666,687 351,860 (87,510)

OTHER COMPREHENSIVE INCOME - - - - -

TOTAL COMPREHENSIVE INCOME (229,028) 268,508 666,687 351,860 (87,510)

See accompanying Notes to Financial Statements.

GREENCARE CO. LTD
PROJECTED STATEMENTS OF FINANCIAL POSITION

31-Dec
2017 2018 2019 2020 2021

ASSETS

Current Assets
Cash 2,693,916 2,895,296.54 1,162,439 1,505,040 1,549,250
Prepaid Expenses -
Trade and Other Receivables 67,127 166,672 175,930 44,210
Inventory - - - - -
Total Current Assets 2,693,916 2,962,423 1,329,110 1,680,970 1,593,460

Noncurrent Assets
Furniture and Fixtures 56,567 47,167 337,767 298,367 258,967
Equipment 77,746 71,447 565,147 508,847 452,547
Total Noncurrent Assets 134,313 118,614 902,914 807,214 711,514

TOTAL ASSETS 2,828,229 3,081,037 2,232,024 2,488,184 2,304,974

LIABILITIES AND EQUITY

Current Liabilities
Trade and Other Payables 1,500,000 1,500,000 - - -
Total Liabilities 1,500,000 1,500,000 - - -

Equity
Veridiano, Capital 423,657 507,926.80 724,922 810,309 749,239
Formoso, Capital 1,670,956 1,755,225.55 724,922 810,309 749,239
Santos, Capital 1,670,956 1,755,225.55 724,922 810,309 749,239
Total Equity 3,765,569 4,018,378 2,174,767 2,430,927 2,247,717

TOTAL LIABILITIES AND EQUITY 5,265,569 5,518,378 2,174,767 2,430,927 2,247,717

See accompanying Notes to Financial Statements.

GREENCARE CO. LTD
STATEMENT OF CASH FLOW

31-Dec
2017 2018 2019 2020 2021

CASH FLOW FROM OPERATING ACTIVITIES

Net Income (Loss) (229,028) 497,536 398,179 (314,826) (439,371)
Adjustment to Reconcile Net Income to Net Cash
Increase in:
Depreciation 15,700 15,700 15,700 95,700
Accounts Receivable - (67,127) (99,545) (9,258) 131,720
Accounts Payable 1,500,000 - (1,500,000) - -
End of Adjustment to Reconcile Net Income to Net Cash 1,500,000 (51,427) (1,583,845) 6,442 227,420
Net Cash Provided by Operating Activities 1,270,972 446,109 (1,185,666) (308,385) (211,950)

Cash Flow from Investing Activities

Furniture and Fixtures (56,567) (287,500) - -
Equipment (77,746) (496,801) - -
Net Cash Provided by Investing Activities (134,313) - (784,301) - -

Cash Flow from Financing Activities

Verdiano, Capital 500,000 (81,576) 79,036 216,995 85,387
Santos, Capital 500,000 (81,576) 79,036 405,243 85,387
Formoso, Capital 500,000 (81,576) 79,036 405,243 85,387
Net Cash Provided by Financing Activities 1,500,000 (244,729) 237,108 1,027,481 256,161

Net Increase (Decrease) in Cash 2,636,659 201,380 (1,732,858) 719,096 44,210

Cash at Beginning of the Period - 2,636,659 2,838,039 1,105,181 1,824,278
Cash at End of the Period 2,636,659 2,838,039 1,105,181 1,824,278 1,868,488
See accompanying Notes to Financial Statements.
GREENCARE CO. LTD
STATEMENT OF CHANGES IN EQUITY

Total
Initial Investment 150,000 150,000
Total Comprehensive Income (229,028) (229,028)
Balances at December 31, 2017 (79,028)
Additional Investment - -
Total Comprehensive Income 252,809 252,809
Balances at December 31, 2018 173,780
Additional Investment - -
Total Comprehensive Income 650,987 650,987
Balances at December 31, 2019 824,767
Additional Investment - -
Total Comprehensive Income 257,160 257,160
Balances at December 31, 2020 1,081,927
Additional Investment - -
Total Comprehensive Income (183,210) (183,210)
Balances at December 31, 2021 898,717

See accompanying Notes to Financial Statement