Bionex Corporation
Appendix
| Sales Forecast | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Sales | |||||||||||||
| Xenasys Transaction Systems | 0% | $16,000 | $16,650 | $15,548 | $15,730 | $15,239 | $25,125 | $27,444 | $31,260 | $36,649 | $39,697 | $46,501 | $49,176 |
| Xenavex Identification Platforms | 0% | $15,255 | $15,793 | $13,562 | $13,597 | $13,936 | $22,626 | $28,720 | $34,279 | $34,370 | $41,000 | $41,487 | $47,710 |
| BioXen Biometric Devices | 0% | $8,766 | $10,607 | $12,834 | $15,530 | $18,791 | $22,737 | $39,511 | $56,289 | $55,280 | $39,738 | $28,973 | $21,358 |
| Total Sales | $40,021 | $43,050 | $41,944 | $44,857 | $47,966 | $70,488 | $95,675 | $121,828 | $126,299 | $120,435 | $116,961 | $118,244 | |
| Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Xenasys Transaction Systems | $7,211 | $7,524 | $7,855 | $7,206 | $7,579 | $7,973 | $7,392 | $7,835 | $7,306 | $7,804 | $7,332 | $7,892 | |
| Xenavex Identification Platforms | $7,211 | $7,472 | $7,745 | $7,032 | $7,334 | $7,651 | $7,983 | $7,332 | $7,699 | $7,084 | $7,488 | $7,913 | |
| BioXen Biometric Devices | $7,700 | $7,985 | $7,284 | $7,598 | $7,928 | $8,275 | $8,639 | $9,020 | $7,421 | $7,843 | $7,285 | $7,749 | |
| Subtotal Direct Cost of Sales | $22,122 | $22,981 | $22,884 | $21,836 | $22,841 | $23,899 | $24,014 | $24,187 | $22,426 | $22,731 | $22,105 | $23,554 | |
| Personnel Plan | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| CEO | 0% | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $5,000 |
| CFO | 0% | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $5,000 | $7,000 |
| President of Engineering | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| President of Sales | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| President of Marketing | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| Total People | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |
| Total Payroll | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $30,000 | $30,000 | |
| General Assumptions | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
| Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
| Long-term Interest Rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |
| Tax Rate | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Pro Forma Profit and Loss | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Sales | $40,021 | $43,050 | $41,944 | $44,857 | $47,966 | $70,488 | $95,675 | $121,828 | $126,299 | $120,435 | $116,961 | $118,244 | |
| Direct Cost of Sales | $22,122 | $22,981 | $22,884 | $21,836 | $22,841 | $23,899 | $24,014 | $24,187 | $22,426 | $22,731 | $22,105 | $23,554 | |
| Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $22,122 | $22,981 | $22,884 | $21,836 | $22,841 | $23,899 | $24,014 | $24,187 | $22,426 | $22,731 | $22,105 | $23,554 | |
| Gross Margin | $17,899 | $20,069 | $19,060 | $23,021 | $25,125 | $46,589 | $71,661 | $97,641 | $103,873 | $97,704 | $94,856 | $94,690 | |
| Gross Margin % | 44.72% | 46.62% | 45.44% | 51.32% | 52.38% | 66.09% | 74.90% | 80.15% | 82.24% | 81.13% | 81.10% | 80.08% | |
| Expenses | |||||||||||||
| Payroll | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $30,000 | $30,000 | |
| Sales and Marketing and Other Expenses | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Contracted Employees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Rent | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | $4,166 | |
| Utilities | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | |
| Insurance | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Payroll Taxes | 15% | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,800 | $4,500 | $4,500 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $42,591 | $40,291 | $40,291 | |
| Profit Before Interest and Taxes | ($24,692) | ($22,522) | ($23,531) | ($19,570) | ($17,466) | $3,998 | $29,070 | $55,050 | $61,282 | $55,113 | $54,565 | $54,399 | |
| EBITDA | ($24,692) | ($22,522) | ($23,531) | ($19,570) | ($17,466) | $3,998 | $29,070 | $55,050 | $61,282 | $55,113 | $54,565 | $54,399 | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Taxes Incurred | ($6,173) | ($5,631) | ($5,883) | ($4,893) | ($4,367) | $999 | $7,268 | $13,763 | $15,321 | $13,778 | $13,641 | $13,600 | |
| Net Profit | ($18,519) | ($16,892) | ($17,648) | ($14,678) | ($13,100) | $2,998 | $21,803 | $41,288 | $45,962 | $41,335 | $40,924 | $40,799 | |
| Net Profit/Sales | -46.27% | -39.24% | -42.07% | -32.72% | -27.31% | 4.25% | 22.79% | 33.89% | 36.39% | 34.32% | 34.99% | 34.50% | |
| Pro Forma Cash Flow | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Cash Received | |||||||||||||
| Cash from Operations | |||||||||||||
| Cash Sales | $24,013 | $25,830 | $25,167 | $26,914 | $28,780 | $42,293 | $57,405 | $73,097 | $75,779 | $72,261 | $70,177 | $70,946 | |
| Cash from Receivables | $0 | $534 | $16,049 | $17,205 | $16,817 | $17,984 | $19,487 | $28,531 | $38,619 | $48,791 | $50,441 | $48,128 | |
| Subtotal Cash from Operations | $24,013 | $26,364 | $41,215 | $44,119 | $45,596 | $60,277 | $76,892 | $101,628 | $114,398 | $121,052 | $120,618 | $119,074 | |
| Additional Cash Received | |||||||||||||
| Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $24,013 | $26,364 | $41,215 | $44,119 | $45,596 | $60,277 | $76,892 | $101,628 | $114,398 | $121,052 | $120,618 | $119,074 | |
| Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Expenditures from Operations | |||||||||||||
| Cash Spending | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $30,000 | $30,000 | |
| Bill Payments | $12,762 | $26,587 | $27,930 | $27,590 | $27,585 | $29,280 | $35,702 | $42,095 | $48,534 | $48,296 | $47,065 | $46,084 | |
| Subtotal Spent on Operations | $44,762 | $58,587 | $59,930 | $59,590 | $59,585 | $61,280 | $67,702 | $74,095 | $80,534 | $80,296 | $77,065 | $76,084 | |
| Additional Cash Spent | |||||||||||||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $44,762 | $58,587 | $59,930 | $59,590 | $59,585 | $61,280 | $67,702 | $74,095 | $80,534 | $80,296 | $77,065 | $76,084 | |
| Net Cash Flow | ($20,749) | ($32,223) | ($18,714) | ($15,471) | ($13,989) | ($1,003) | $9,189 | $27,533 | $33,864 | $40,756 | $43,553 | $42,990 | |
| Cash Balance | $91,128 | $58,905 | $40,190 | $24,719 | $10,730 | $9,727 | $18,916 | $46,449 | $80,314 | $121,069 | $164,622 | $207,612 | |
| Pro Forma Balance Sheet | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Assets | Starting Balances | ||||||||||||
| Current Assets | |||||||||||||
| Cash | $111,877 | $91,128 | $58,905 | $40,190 | $24,719 | $10,730 | $9,727 | $18,916 | $46,449 | $80,314 | $121,069 | $164,622 | $207,612 |
| Accounts Receivable | $0 | $16,008 | $32,695 | $33,424 | $34,161 | $36,531 | $46,742 | $65,525 | $85,726 | $97,626 | $97,010 | $93,353 | $92,523 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $111,877 | $107,136 | $91,599 | $73,614 | $58,880 | $47,261 | $56,469 | $84,442 | $132,175 | $177,940 | $218,079 | $257,975 | $300,135 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $0 | $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 | $0 |
| Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $111,877 | $107,136 | $91,599 | $73,614 | $58,880 | $47,261 | $56,469 | $84,442 | $132,175 | $177,940 | $218,079 | $257,975 | $300,135 |
| Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Current Liabilities | |||||||||||||
| Accounts Payable | $11,877 | $25,655 | $27,010 | $26,673 | $26,617 | $28,097 | $34,306 | $40,477 | $46,922 | $46,726 | $45,530 | $44,503 | $45,863 |
| Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $11,877 | $25,655 | $27,010 | $26,673 | $26,617 | $28,097 | $34,306 | $40,477 | $46,922 | $46,726 | $45,530 | $44,503 | $45,863 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $11,877 | $25,655 | $27,010 | $26,673 | $26,617 | $28,097 | $34,306 | $40,477 | $46,922 | $46,726 | $45,530 | $44,503 | $45,863 |
| Paid-in Capital | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 | $550,000 |
| Retained Earnings | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) | ($450,000) |
| Earnings | $0 | ($18,519) | ($35,411) | ($53,059) | ($67,737) | ($80,836) | ($77,838) | ($56,035) | ($14,748) | $31,214 | $72,549 | $113,472 | $154,272 |
| Total Capital | $100,000 | $81,481 | $64,589 | $46,941 | $32,263 | $19,164 | $22,162 | $43,965 | $85,252 | $131,214 | $172,549 | $213,472 | $254,272 |
| Total Liabilities and Capital | $111,877 | $107,136 | $91,599 | $73,614 | $58,880 | $47,261 | $56,469 | $84,442 | $132,175 | $177,940 | $218,079 | $257,975 | $300,135 |
| Net Worth | $100,000 | $81,481 | $64,589 | $46,941 | $32,263 | $19,164 | $22,162 | $43,965 | $85,252 | $131,214 | $172,549 | $213,472 | $254,272 |
By 
