DIRECTIONS

1 Change the assumptions on the "Quick Assumptions" tab by typing numbers into the yellow high

2 Optional: to create even more customized or detailed changes to the assumptions, modify the "F
g numbers into the yellow highlighted cells

the assumptions, modify the "Full Assumptions" and/or "Headcount" tabs.

Directions: insert your assumptions into the highlighted cells in column B. The current figures are

Product/Service Revenue & Expense Assumptions

Revenues
Number of units you expect to sell each month 3,000
Expected annual sales growth rate 10.0%

Average price you charge per unit $20.00

Expected annual growth rate in your price 10.0%

Costs
Direct cost per unit sold $5.00
Expected quarterly growth rate in your per unit cost 10.0%

Company Expenses

Salaries
Your Salary each Month $7,500
Expected annual growth rate in your salary 5.0%

Others' Salaries each Month $12,000

Expected annual growth rate in other salary expenses 3.0%

Marketing Expenses
Expected initial Monthly marketing expense $5,000
Expected Annual growth rate in marketing expenses 5.0%

Rent/Utilities
Expected initial Monthly Rent/Utilities expense $3,000
Expected Annual growth rate in Rent/Utilities expenses 3.0%

Other Expenses

Insurance $500
Insurance 3.0%

Office Supplies $250

Office Supplies 3.0%

Other Expense 1 $0
Other Expense 1 0.0%

Other Expense 2 $0
Other Expense 2 0.0%

Other Expense 3 $0
Other Expense 3 0.0%
Capital Expenditures

Capital Expenditures Year 1 $25,000

Financing Options
% of Capital needed financed by Debt 100.0%
% of Capital needed financed by Equity 0.0%
d cells in column B. The current figures are for illustrative purposes only.

Notes
Monthly sales
Annual sales growth

Your average price that you will charge per product or service unit sold.
This is how much you expect to raise your prices each year

How much it costs you to produce or deliver each unit sold

This is how much you expect to raise your direct product costs to grow each quarter

You can further customize your Salaries on the "Headcount" tab

Enter your MONTHLY desired salary
Enter the amount your salary should increase each YEAR

Enter the MONTHLY amount of salaries you will have to pay your team
Enter the amount other salaries will increase each YEAR

Enter your initial MONTHLY marketing expense

Enter the amount in which Marketing expenses will increase each YEAR

Enter your initial MONTHLY Rent/Utilities expense

Enter the amount in which Rent/Utilities expenses will increase each YEAR

Complete only the relevant "other" expenses.

Initial MONTHLY expense

Expected ANNUAL increase in this expense

Initial MONTHLY expense

Expected ANNUAL increase in this expense

Initial MONTHLY expense

Expected ANNUAL increase in this expense

Initial MONTHLY expense

Expected ANNUAL increase in this expense

Initial MONTHLY expense

Expected ANNUAL increase in this expense
For Other Expenses #1-#3, leave the figures blank if not relevant
If relevant, replace text in Column A with the name of the expense.

Dollar amount of key purchases you have to make (to buy computers, desks, equipment, space build-out, etc.)

If your business requires financing, enter the % of the financing which will come from
debt vs. equity.
Directions: you are NOT required to complete this sheet; only do so if you want to further customize or detail
your assumptions. Highlighted cells link to the "Quick Assumptions" sheet. You CAN over-write those
assumptions here if you want. Note that calculations on this sheet are QUARTERLY.
DETAILED ASSUMPTIONS
Quarterly Assumptions Q1 Q2 Q3 Q4 Annual

Revenue Assumptions

Revenue 1 ( Based on number of units) Note: This is simple revenue model where total revenue equals to number of units multiplied
by rate per unit. However in complicated revenue model a separate sheet should be inserted.
Number of units
FY1 9,000 9,225 9,456 9,692 37,373
Growth 2.5% 2.5% 2.5%
FY2 9,934 10,183 10,437 10,698 41,252
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY3 10,966 11,240 11,521 11,809 45,535
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY4 12,104 12,407 12,717 13,035 50,262
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY5 13,361 13,695 14,037 14,388 55,480
Growth 2.5% 2.5% 2.5% 2.5% 10%

Per unit Revenue 1

FY1 $20.00 $20.50 $21.01 $21.54 $20.76
Growth 2.5% 2.5% 2.5%
FY2 $22.08 $22.63 $23.19 $23.77 $22.92
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY3 $24.37 $24.98 $25.60 $26.24 $25.30
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY4 $26.90 $27.57 $28.26 $28.97 $27.92
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY5 $29.69 $30.43 $31.19 $31.97 $30.82
Growth 2.5% 2.5% 2.5% 2.5% 10%

Total Revenue 1
FY1 $180,000 $189,100 $198,700 $208,700 $776,500
FY2 $219,300 $230,400 $242,100 $254,300 $946,100
FY3 $267,200 $280,700 $295,000 $309,900 $1,152,800
FY4 $325,600 $342,100 $359,400 $377,600 $1,404,700
FY5 $396,700 $416,800 $437,900 $460,000 $1,711,400

Cost Assumptions

Direct Product/Service Costs

Per unit Cost

FY1 $5.00 $5.13 $5.25 $5.38 $5.19
Growth 2.5% 2.5% 2.5%
FY2 $5.52 $5.66 $5.80 $5.94 $5.73
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY3 $6.09 $6.24 $6.40 $6.56 $6.32
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY4 $6.72 $6.89 $7.06 $7.24 $6.98
Growth 2.5% 2.5% 2.5% 2.5% 10%
FY5 $7.42 $7.61 $7.80 $7.99 $7.71
Growth 2.5% 2.5% 2.5% 2.5% 10%

Total Direct Cost 1

FY1 $45,000 $47,300 $49,700 $52,200 $194,200
FY2 $54,800 $57,600 $60,500 $63,600 $236,500
FY3 $66,800 $70,200 $73,700 $77,500 $288,200
FY4 $81,400 $85,500 $89,800 $94,400 $351,100
FY5 $99,200 $104,200 $109,500 $115,000 $427,900

Company Costs

Marketing Expenses
FY1 $15,000 $15,188 $15,377 $15,570 $61,134
Growth 1.3% 1.3% 1.3%
FY2 $15,764 $15,961 $16,161 $16,363 $64,249
Growth 1.3% 1.3% 1.3% 1.3%
FY3 $16,567 $16,774 $16,984 $17,196 $67,522
Growth 1.3% 1.3% 1.3% 1.3%
FY4 $17,411 $17,629 $17,849 $18,072 $70,962
Growth 1.3% 1.3% 1.3% 1.3%
FY5 $18,298 $18,527 $18,759 $18,993 $74,577
Growth 1.3% 1.3% 1.3% 1.3%

Rent/Utility Expenses
FY1 $9,000 $9,068 $9,136 $9,204 $36,407
Growth 0.8% 0.8% 0.8%
FY2 $9,273 $9,343 $9,413 $9,483 $37,512
Growth 0.8% 0.8% 0.8% 0.8%
FY3 $9,554 $9,626 $9,698 $9,771 $38,650
Growth 0.8% 0.8% 0.8% 0.8%
FY4 $9,844 $9,918 $9,992 $10,067 $39,822
Growth 0.8% 0.8% 0.8% 0.8%
FY5 $10,143 $10,219 $10,296 $10,373 $41,030
Growth 0.8% 0.8% 0.8% 0.8%

Other Expenses
FY1 $2,250 $2,277 $2,304 $2,332 $9,163
Growth 1.2% 1.2% 1.2%
FY2 $2,360 $2,388 $2,417 $2,446 $9,611
Growth 1.2% 1.2% 1.2% 1.2%
FY3 $2,475 $2,505 $2,535 $2,565 $10,081
Growth 1.2% 1.2% 1.2% 1.2%
FY4 $2,596 $2,627 $2,659 $2,691 $10,573
Growth 1.2% 1.2% 1.2% 1.2%
FY5 $2,723 $2,756 $2,789 $2,822 $11,090
Growth 1.2% 1.2% 1.2% 1.2%

Tax Rate 35%

Salary Expense

Department/ Position Salary (month)

You $7,500
Manager/Person #1 $1,000 Fill in the salaries of each role if you wish to customize.
Manager/Person #2 $1,000
Manager/Person #3 $1,000
Manager/Person #4 $1,000
Staff Role #1 $1,000 For certain staff roles (e.g., customer service), there may be multiple
Staff Role #2 $1,000 staff members. Enter the # of staff members and when they join below.

Headcount Q1 Q2 Q3 Q4 Annual
Staff Role #1 FY1 1 1 1 1 1
FY2 1 1 1 1 1
FY3 1 1 1 1 1
FY4 1
FY5 1

Staff Role #2 FY1 1 1 1 1 1

FY2 1 1 1 1 1
FY3 1 1 1 1 1
FY4 1
FY5 1

You - Increase in Salary 5%

Managers - Increase in Salary 3%
Staff Roles - Increase in Salary 3%

Current Asset/Liability Turnover

Current liabilities Turnover (In number of days) 30 Of total expenses

Current Assets excluding cash ( in number of days) 40 Of total revenue

Capital Expenditure Assumptions FY 1 FY 2 FY 3 FY 4 FY 5

Tangible Assets
Fixed Assets $25,000 $0 $0 $0 $0
Depreciation rate 20%

Capex ramp up Q1 Q2 Q3 Q4
(Capital expenditures made) Year 1 $25,000 $0 $0 $0
Year 2 $0 $0 $0 $0
Year 3 $0 $0 $0 $0
Year 4 $0 $0 $0 $0
Year 5 $0 $0 $0 $0

Intangible Assets
Intangibles( Ex:Patent) $0 $0 $0 $0 $0
Amortization Years 5

Intangible ramp up Q1 Q2 Q3 Q4
(Intangible assets purchased) Year 1 $0 $0 $0 $0
Year 2 $0 $0 $0 $0
Year 3 $0 $0 $0 $0
Year 4 $0 $0 $0 $0
Year 5 $0 $0 $0 $0

Capital Requirement FY 1 FY 2 FY 3 FY 4 FY 5

Debt borrowed $170,082 Total Initial Capital Required: $170,082

Payment method One time Percent financed debt: 100%
Year of Payment 5 Year End Percent financed equity: 0%
Interest rate 7.00%

Equity $0

Initial Balance Sheet

Assets
Preliminary Exp $0
Fixed Assets - Gross $0
Less :Accumulated Depreciation $0
Net Block $0

Intangible Assets $0
Less :Accumulated Amortization $0
Net Intangibles $0
Current asset (e.g., cash) $0
$0
Liabilities
Debt outstanding $0
Current liabilities $0
Share Capital $0 (Insert a figure for Share Capital that makes the number in row 201 equal zero).
$0
Preliminary exp written off ( years) 3
Summary

FY 1 FY 2 FY 3 FY 4 FY 5
Revenue $776,500 $946,100 $1,152,800 $1,404,700 $1,711,400
Direct Expenses $194,200 $236,500 $288,200 $351,100 $427,900
Gross Profit $582,300 $709,600 $864,600 $1,053,600 $1,283,500
Gross Profit (%) 75.0% 75.0% 75.0% 75.0% 75.0%
Other Expenses $340,800 $354,320 $372,978 $390,807 $409,577
EBITDA $241,500 $355,280 $491,622 $662,793 $873,923
Depreciation $5,200 $5,200 $5,200 $5,200 $4,200
Amortization $0 $0 $0 $0 $0
Preliminary Exp Written off $0 $0 $0 $0 $0
Interest Expense $12,000 $12,000 $12,000 $11,900 $11,900
Income Tax Expense $78,500 $118,300 $166,000 $226,000 $300,200
Net Income $145,800 $219,780 $308,422 $419,693 $557,623
Directions: you are NOT required to complete this sheet; only do so if you want to further customize or detail your headcount and/or salary assumptions.
HEADCOUNT

Quarterly
FY 1 FY 2 FY 3
Q1 FY1 Q2 FY1 Q3 FY1 Q4 FY1 Q1 FY2 Q2 FY2 Q3 FY2 Q4 FY2 Q1 FY3 Q2 FY3 Q3 FY3 Q4 FY3
DEPARTMENT/ POSITION Salary($)
(month)

You $7,500 $22,500 $22,500 $22,500 $22,500 $23,625 $23,625 $23,625 $23,625 $24,806 $24,806 $24,806 $24,806
Manager/Person #1 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Manager/Person #2 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Manager/Person #3 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Manager/Person #4 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Staff Role #1 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Staff Role #2 $1,000 $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Total Calculated Salaries $40,500 $40,500 $40,500 $40,500 $42,165 $42,165 $42,165 $42,165 $43,902 $43,902 $43,902 $43,902
Total Salaries $58,500 $58,500 $58,500 $58,500 $60,705 $60,705 $60,705 $60,705 $64,144 $64,144 $64,144 $64,144

Staff Role Calculations

Staff Role #1 Quarterly Salary $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183
Staff Role #2 Quarterly Salary $3,000 $3,000 $3,000 $3,000 $3,090 $3,090 $3,090 $3,090 $3,183 $3,183 $3,183 $3,183

# Staff Role 1 Employees 1 1 1 1 1 1 1 1 1 1 1 1

# Staff Role 2 Employees 1 1 1 1 1 1 1 1 1 1 1 1

Quick Assumption Calculations

You $22,500 $22,500 $22,500 $22,500 $23,625 $23,625 $23,625 $23,625 $24,806 $24,806 $24,806 $24,806 ###
Rest of Staff $36,000 $36,000 $36,000 $36,000 $37,080 $37,080 $37,080 $37,080 $39,338 $39,338 $39,338 $39,338
Total Salaries $58,500 $58,500 $58,500 $58,500 $60,705 $60,705 $60,705 $60,705 $64,144 $64,144 $64,144 $64,144

Salary
COO $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
CFO $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Others $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total $0 $0 0 0 0 0 0 0 0 0 0 0
HEADCOUNT

Annual

FY1 FY 2 FY 3 FY 4 FY 5
DEPARTMENT/ POSITION Salary($)

You $90,000 $94,500 $99,225 $104,186 $109,396

Manager/Person #1 $12,000 $12,360 $12,731 $13,113 $13,506
Manager/Person #2 $12,000 $12,360 $12,731 $13,113 $13,506
Manager/Person #3 $12,000 $12,360 $12,731 $13,113 $13,506
Manager/Person #4 $12,000 $12,360 $12,731 $13,113 $13,506
Staff Role #1 $12,000 $12,360 $12,731 $13,113 $13,506
Staff Role #2 $12,000 $12,360 $12,731 $13,113 $13,506
Total Calculated Salaries $162,000 $168,660 $175,610 $182,863 $190,432
Total Salaries $234,000 $242,820 $256,578 $269,407 $282,877

Staff Role Calculations

Staff Role #1 Annual Salary $12,000 $12,360 $12,731 $13,113 $13,506

Staff Role #2 Annual Salary $12,000 $12,360 $12,731 $13,113 $13,506

# Staff Role 1 Employees 1 1 1 1 1

# Staff Role 2 Employees 1 1 1 1 1

0 You $90,000 $94,500 $99,225 $104,186 $109,396

Rest of Staff $144,000 $148,320 $157,353 $165,220 $173,481
Total Salaries 234,000 242,820 256,578 269,407 282,877

Salary
COO $0 $0 $0 $0 $0
CFO $0 $0 $0 $0 $0
Others $0 $0 $0 $0 $0
Total $0 $0 $0 $0 $0
 Income Statement Projections

Quarterly
FY 1 FY 2 FY 3
Q1 FY1 Q2 FY1 Q3 FY1 Q4 FY1 Q1 FY2 Q2 FY2 Q3 FY2 Q4 FY2 Q1 FY3 Q2 FY3 Q3 FY3 Q4 FY3
Revenues
Revenue 1 $180,000 $189,100 $198,700 $208,700 $219,300 $230,400 $242,100 $254,300 $267,200 $280,700 $295,000 $309,900
Total Revenue $180,000 $189,100 $198,700 $208,700 $219,300 $230,400 $242,100 $254,300 $267,200 $280,700 $295,000 $309,900

Direct Cost
Direct Cost 1 $45,000 $47,300 $49,700 $52,200 $54,800 $57,600 $60,500 $63,600 $66,800 $70,200 $73,700 $77,500
Total Direct Costs $45,000 $47,300 $49,700 $52,200 $54,800 $57,600 $60,500 $63,600 $66,800 $70,200 $73,700 $77,500

GROSS PROFIT $135,000 $141,800 $149,000 $156,500 $164,500 $172,800 $181,600 $190,700 $200,400 $210,500 $221,300 $232,400
GROSS PROFIT(%) 75% 75% 75% 75% 75% 75% 75% 75% 75% 75% 75% 75%

Other Expenses
Salaries $58,500 $58,500 $58,500 $58,500 $60,705 $60,705 $60,705 $60,705 $64,144 $64,144 $64,144 $64,144
Marketing Expenses $15,000 $15,200 $15,400 $15,600 $15,800 $16,000 $16,200 $16,400 $16,600 $16,800 $17,000 $17,200
Rent/Utility Expenses $9,000 $9,100 $9,100 $9,200 $9,300 $9,300 $9,400 $9,500 $9,600 $9,600 $9,700 $9,800
Other Expenses $2,300 $2,300 $2,300 $2,300 $2,400 $2,400 $2,400 $2,400 $2,500 $2,500 $2,500 $2,600
Total Other Expenses $84,800 $85,100 $85,300 $85,600 $88,205 $88,405 $88,705 $89,005 $92,844 $93,044 $93,344 $93,744
EBITDA $50,200 $56,700 $63,700 $70,900 $76,295 $84,395 $92,895 $101,695 $107,556 $117,456 $127,956 $138,656
Depreciation $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300
Amortization - - - - - - - - - - - -
Preliminary Exp Written off - - - - - - - - - - - -
EBIT $48,900 $55,400 $62,400 $69,600 $74,995 $83,095 $91,595 $100,395 $106,256 $116,156 $126,656 $137,356
Interest Expense $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
PRETAX INCOME $45,900 $52,400 $59,400 $66,600 $71,995 $80,095 $88,595 $97,395 $103,256 $113,156 $123,656 $134,356
Cumulative Net Operating Loss - - - - - - - - - - - -
Adjusted against Loss - - - - - - - - - - - -
Taxable Income $45,900 $52,400 $59,400 $66,600 $71,995 $80,095 $88,595 $97,395 $103,256 $113,156 $123,656 $134,356
Income Tax Expense $16,100 $18,300 $20,800 $23,300 $25,200 $28,000 $31,000 $34,100 $36,100 $39,600 $43,300 $47,000
NET INCOME $29,800 $34,100 $38,600 $43,300 $46,795 $52,095 $57,595 $63,295 $67,156 $73,556 $80,356 $87,356
Net Profit Margin (%) 17% 18% 19% 21% 21% 23% 24% 25% 25% 26% 27% 28%
 Annual
FY 1 FY 2 FY 3 FY 4 FY 5

Revenues
Revenue 1 $776,500 $946,100 $1,152,800 $1,404,700 $1,711,400
Total Revenue $776,500 $946,100 $1,152,800 $1,404,700 $1,711,400

Direct Cost
Direct Cost 1 $194,200 $236,500 $288,200 $351,100 $427,900
Total Direct Costs $194,200 $236,500 $288,200 $351,100 $427,900

GROSS PROFIT $582,300 $709,600 $864,600 $1,053,600 $1,283,500

GROSS PROFIT(%) 75% 75% 75% 75% 75%

Other Expenses
Salaries $234,000 $242,820 $256,578 $269,407 $282,877
Marketing Expenses $61,200 $64,400 $67,600 $71,000 $74,600
Rent/Utility Expenses $36,400 $37,500 $38,700 $39,800 $41,000
Other Expenses $9,200 $9,600 $10,100 $10,600 $11,100
Total Other Expenses $340,800 $354,320 $372,978 $390,807 $409,577
EBITDA $241,500 $355,280 $491,622 $662,793 $873,923
Depreciation $5,200 $5,200 $5,200 $5,200 $4,200
Amortization - - - - -
Preliminary Exp Written off - - - - -
EBIT $236,300 $350,080 $486,422 $657,593 $869,723
Interest Expense $12,000 $12,000 $12,000 $11,900 $11,900
PRETAX INCOME $224,300 $338,080 $474,422 $645,693 $857,823
Net Operating Loss - - - - -
Use of Net Operating Loss - - - - -
Taxable Income $224,300 $338,080 $474,422 $645,693 $857,823
Income Tax Expense $78,500 $118,300 $166,000 $226,000 $300,200
NET INCOME $145,800 $219,780 $308,422 $419,693 $557,623
Net Profit Margin (%) 19% 23% 27% 30% 33%
$1,800,000

$1,600,000

$1,400,000

$1,200,000

$1,000,000 Revenue
Gross Profit
Net Income
$800,000

$600,000

$400,000

$200,000

$0
FY 1 FY 2 FY 3 FY 4 FY 5
Balance Sheet Projections

Quarterly
Initial Balance FY1 FY2 FY3
Sheet Q1 FY1 Q2 FY1 Q3 FY1 Q4 FY1 Q1 FY2 Q2 FY2 Q3 FY2 Q4 FY2 Q1 FY3 Q2 FY3 Q3 FY3 Q4 FY3

ASSETS
Cash $139,500 $171,700 $208,200 $249,200 $294,395 $343,890 $398,585 $458,980 $523,936 $593,991 $670,647 $754,102
Other Current Assets $0 $80,000 $84,000 $88,300 $92,800 $97,500 $102,400 $107,600 $113,000 $118,800 $124,800 $131,100 $137,700
Total Current Assets $0 $219,500 $255,700 $296,500 $342,000 $391,895 $446,290 $506,185 $571,980 $642,736 $718,791 $801,747 $891,802

Intangible Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Acc Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Intangibles $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Fixed Assets $0 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Accum Depreciation $0 $1,300 $2,600 $3,900 $5,200 $6,500 $7,800 $9,100 $10,400 $11,700 $13,000 $14,300 $15,600
Net fixed assets $0 $23,700 $22,400 $21,100 $19,800 $18,500 $17,200 $15,900 $14,600 $13,300 $12,000 $10,700 $9,400

Preliminary Exp $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

TOTAL ASSETS $0 $243,200 $278,100 $317,600 $361,800 $410,395 $463,490 $522,085 $586,580 $656,036 $730,791 $812,447 $901,202

LIABILITIES & EQUITY

Current Liabilities $0 $43,300 $44,100 $45,000 $45,900 $47,700 $48,700 $49,700 $50,900 $53,200 $54,400 $55,700 $57,100
Debt outstanding $0 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100 $170,100
Total Liabilities $0 $213,400 $214,200 $215,100 $216,000 $217,800 $218,800 $219,800 $221,000 $223,300 $224,500 $225,800 $227,200

Share Capital 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Retained earnings 0 $29,800 $63,900 $102,500 $145,800 $192,595 $244,690 $302,285 $365,580 $432,736 $506,291 $586,647 $674,002
Total Equity $0 $29,800 $63,900 $102,500 $145,800 $192,595 $244,690 $302,285 $365,580 $432,736 $506,291 $586,647 $674,002
TOTAL LIABILITIES & EQUITY $0 $243,200 $278,100 $317,600 $361,800 $410,395 $463,490 $522,085 $586,580 $656,036 $730,791 $812,447 $901,202
check $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Balance Sheet Projections

Annual
FY 1 FY 2 FY 3 FY 4 FY 5

ASSETS
Cash $249,200 $458,980 $754,102 $1,165,296 $1,530,937
Other Current Assets $92,800 $113,000 $137,700 $156,100 $190,200
Total Current Assets $342,000 $571,980 $891,802 $1,321,396 $1,721,137

Intangible Assets $0 $0 $0 $0 $0
Acc Amortization $0 $0 $0 $0 $0
Net Intangibles $0 $0 $0 $0 $0

Fixed Assets $25,000 $25,000 $25,000 $25,000 $25,000

Accum Depreciation $5,200 $10,400 $15,600 $20,800 $25,000
Net fixed assets $19,800 $14,600 $9,400 $4,200 $0

Preliminary Exp $0 $0 $0 $0 $0

TOTAL ASSETS $361,800 $586,580 $901,202 $1,325,596 $1,721,137

LIABILITIES & EQUITY

Current Liabilities $45,900 $50,900 $57,100 $61,800 $69,800
Debt outstanding $170,100 $170,100 $170,100 $170,100 $18
Total Liabilities $216,000 $221,000 $227,200 $231,900 $69,818

Share Capital $0 $0 $0 $0 $0
Retained earnings $145,800 $365,580 $674,002 $1,093,696 $1,651,319
Total Equity $145,800 $365,580 $674,002 $1,093,696 $1,651,319
TOTAL LIABILITIES & EQUITY $361,800 $586,580 $901,202 $1,325,596 $1,721,137
check $0 $0 $0 $0 $0
Cash Flow Projections

Quarterly
FY 1 FY 2 FY 3
Q1 FY1 Q2 FY1 Q3 FY1 Q4 FY1 Q1 FY2 Q2 FY2 Q3 FY2 Q4 FY2 Q1 FY3 Q2 FY3 Q3 FY3 Q4 FY3

CASH FLOW FROM OPERATIONS

Net Income (Loss) $29,800 $34,100 $38,600 $43,300 $46,795 $52,095 $57,595 $63,295 $67,156 $73,556 $80,356 $87,356
Change in Working Capital ($36,700) ($3,200) ($3,400) ($3,600) ($2,900) ($3,900) ($4,200) ($4,200) ($3,500) ($4,800) ($5,000) ($5,200)
Plus Depreciation $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300
Plus Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Plus Preliminary exp written off $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Cash Flow from Operations ($5,600) $32,200 $36,500 $41,000 $45,195 $49,495 $54,695 $60,395 $64,956 $70,056 $76,656 $83,456

CASH FLOW FROM INVESTMENTS

Fixed Assets ($25,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Intangible Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Cash Flow from Investments ($25,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

CASH FLOW FROM FINANCING

Cash from Equity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Cash from Debt financing $170,100 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Cash Flow from Financing $170,100 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Net Cash Flow $139,500 $32,200 $36,500 $41,000 $45,195 $49,495 $54,695 $60,395 $64,956 $70,056 $76,656 $83,456
Cash at Beginning of Period $0 $139,500 $171,700 $208,200 $249,200 $294,395 $343,890 $398,585 $458,980 $523,936 $593,991 $670,647
Cash at End of Period $139,500 $171,700 $208,200 $249,200 $294,395 $343,890 $398,585 $458,980 $523,936 $593,991 $670,647 $754,102
Cash Flow Projections

Annual
FY 1 FY 2 FY 3 FY 4 FY 5

CASH FLOW FROM OPERATIONS

Net Income (Loss) $145,800 $219,780 $308,422 $419,693 $557,623
Change in Working Capital ($46,900) ($15,200) ($18,500) ($13,700) ($26,100)
Plus Depreciation $5,200 $5,200 $5,200 $5,200 $4,200
Plus Amortization $0 $0 $0 $0 $0
Plus Preliminary exp written off $0 $0 $0 $0 $0
Net Cash Flow from Operations $104,100 $209,780 $295,122 $411,193 $535,723

CASH FLOW FROM INVESTMENTS

Fixed Assets ($25,000) $0 $0 $0 $0
Intangible Assets $0 $0 $0 $0 $0
Net Cash Flow from Investments ($25,000) $0 $0 $0 $0

CASH FLOW FROM FINANCING

Cash from Equity $0 $0 $0 $0 $0
Cash from Debt financing $170,100 $0 $0 $0 ($170,082)
Net Cash Flow from Financing $170,100 $0 $0 $0 ($170,082)

Net Cash Flow $249,200 $209,780 $295,122 $411,193 $365,641

Cash at Beginning of Period $0 $249,200 $458,980 $754,102 $1,165,296
Cash at End of Period $249,200 $458,980 $754,102 $1,165,296 $1,530,937
 Quarterly
FY 1 FY 2 FY 3
Initial Q1 FY1 Q2 FY1 Q3 FY1 Q4 FY1 Q1 FY2 Q2 FY2 Q3 FY2 Q4 FY2 Q1 FY3 Q2 FY3 Q3 FY3 Q4 FY3

CAPEX
Fixed Assets $25,000 - - - - - - - - - - -
Intangibles - - - - - - - - - - - -
TOTAL CAPEX $25,000 - - - - - - - - - - -

TOTAL ASSETS
Gross assets $0 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Less : Accumulated Depreciation $0 $1,300 $2,600 $3,900 $5,200 $6,500 $7,800 $9,100 $10,400 $11,700 $13,000 $14,300 $15,600
Closing Balance - $23,700 $22,400 $21,100 $19,800 $18,500 $17,200 $15,900 $14,600 $13,300 $12,000 $10,700 $9,400

Intangible Assets - - - - - - - - - - - - -
Less: Accumulated Amortization - - - - - - - - - - - - -
Closing Balance - - - - - - - - - - - - -

Total Amortization - - - - - - - - - - - -
Total Depreciation $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300
 Quarterly Annual

FY 1 FY 2 FY 3 FY 4 FY 5

CAPEX CAPEX
Fixed Assets Fixed Assets $25,000 $0 $0 $0 $0
Intangibles Intangibles $0 $0 $0 $0 $0
TOTAL CAPEX TOTAL CAPEX $25,000 - - - -

TOTAL ASSETS TOTAL ASSETS

Gross assets Gross assets $25,000 $25,000 $25,000 $25,000 $25,000
Less : Accumulated Depreciation Less : Accumulated Depreciation $5,200 $10,400 $15,600 $20,800 $25,000
Closing Balance Closing Balance $19,800 $14,600 $9,400 $4,200 -

Intangible Assets Intangible Assets - - - - -

Less: Accumulated Amortization Less: Accumulated Amortization - - - - -
Closing Balance Closing Balance - - - - -

Total Amortization Total Amortization $0 $0 $0 - -

Total Depreciation Total Depreciation $5,200 $5,200 $5,200 $5,200 $4,200
Depreciation Calculation for Tangible Assets
Fixed asset FY1 FY2
Ramp up Initial
Ramp up Q1 Q2 Q3 Q4 Q1
Q1 0 $25,000
Q2 $0
FY1

Q3 $0
Q4 $0
Q1 $0
Q2
FY2

Q3
Q4
Q1
Q2
FY3

Q3
Q4
Q1
Q2
FY4

Q3
Q4
Q1
FY5

Q2
Q3
Q4
Total addition $0 $25,000 $0 $0 $0 $0
Depreciation
Initial $0 $0 $0 $0 $0
Q1 $1,300 $1,300 $1,300 $1,300 $1,300
Q2 $0 $0 $0 $0
FY1

Q3 $0 $0 $0
Q4 $0 $0
Q1 $0
Q2
FY2

Q3
Q4
Q1
Q2
FY3

Q3
Q4
Q1
Q2
FY4

Q3
Q4
Q1
FY5

Q2
Q3
Q4
Total Depreciation $1,300 $1,300 $1,300 $1,300 $1,300
Accumulated
depreciation
Initial $0 $0 $0 $0 $0 $0
Q1 $1,300 $2,600 $3,900 $5,200 $6,500
Q2 $0 $0 $0 $0 $0
FY1

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY2

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
FY3
 Q2 $0 $0 $0 $0 $0
FY3 Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY4

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
FY5

Q2 $0 $0 $0 $0 $0
Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Accumulated Depreciation $1,300 $2,600 $3,900 $5,200 $6,500

Amortization Calculation for Intangible Assets

Intangibles FY1 FY2
Ramp up Initial
Ramp up Q1 Q2 Q3 Q4 Q1
Q1 0 $0
Q2 $0
FY1

Q3 $0
Q4 $0
Q1 $0
Q2
FY2

Q3
Q4
Q1
Q2
FY3

Q3
Q4
Q1
Q2
FY4

Q3
Q4
Q1
FY5

Q2
Q3
Q4
Total addition $0 $0 $0 $0 $0 $0
Amortization
Initial $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0
FY1

Q3 $0 $0 $0
Q4 $0 $0
Q1 $0
Q2
FY2

Q3
Q4
Q1
Q2
FY3

Q3
Q4
Q1
Q2
FY4

Q3
Q4
Q1
FY5

Q2
Q3
 Q4
Total Amortization $0 $0 $0 $0 $0
Accumulated
Amortization
Initial $0 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY1

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY2

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY3

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
Q2 $0 $0 $0 $0 $0
FY4

Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Q1 $0 $0 $0 $0 $0
FY5

Q2 $0 $0 $0 $0 $0
Q3 $0 $0 $0 $0 $0
Q4 $0 $0 $0 $0 $0
Accumulated Amortization $0 $0 $0 $0 $0
 FY2 FY3 FY4

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0
$0 $0
$0

$1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$7,800 $9,100 $10,400 $11,700 $13,000 $14,300 $15,600 $16,900 $18,200 $19,500
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$7,800 $9,100 $10,400 $11,700 $13,000 $14,300 $15,600 $16,900 $18,200 $19,500

FY2 FY3 FY4

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0
$0 $0
$0
 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
FY4 FY5

Q4 Q1 Q2 Q3 Q4

$0
$0
$0
$0
$0
$0 $0 $0 $0 $0

$0 $0 $0 $0 $0
$1,300 $1,300 $1,300 $1,300 $300
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0
$0 $0
$0
$1,300 $1,300 $1,300 $1,300 $300

$0 $0 $0 $0 $0
$20,800 $22,100 $23,400 $24,700 $25,000
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$20,800 $22,100 $23,400 $24,700 $25,000

FY4 FY5

Q4 Q1 Q2 Q3 Q4

$0
$0
$0
$0
$0
$0 $0 $0 $0 $0

$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0
$0 $0
 $0
$0 $0 $0 $0 $0

$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
One time FY1 FY2
Q1 Q2 Q3 Q4 Q1

Debt Outstanding at the beginning 170,082 170,082 170,082 170,082 170,082

Less : Debt Repayment - - - - -

Closing Balance 170,082 170,082 170,082 170,082 170,082

Interest Payable 3,000 3,000 3,000 3,000 3,000

 FY2 FY3
Q2 Q3 Q4 Q1 Q2 Q3 Q4

170,082 170,082 170,082 170,082 170,082 170,082 170,082

- - - - - - -

170,082 170,082 170,082 170,082 170,082 170,082 170,082

3,000 3,000 3,000 3,000 3,000 3,000 3,000

FY4 FY5

170,082 170,082

- 170,082

170,082 -

11,900 11,900