Claremont Funding
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 | |||||||||||||
| First-Time Homeowners | 0% | $2,100 | $2,200 | $5,020 | $8,000 | $10,500 | $15,000 | $18,000 | $22,000 | $10,022 | $5,210 | $3,820 | $2,800 |
| Other Homebuyers | 0% | $1,050 | $1,100 | $2,510 | $4,000 | $5,250 | $7,500 | $9,000 | $11,000 | $5,011 | $2,605 | $1,910 | $1,400 |
| Residential Refinancing | 0% | $3,000 | $3,000 | $6,640 | $10,000 | $11,000 | $14,000 | $17,000 | $20,000 | $13,000 | $4,322 | $3,222 | $2,655 |
| Total Sales | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
| 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 | |
| First-Time Homeowners | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Homebuyers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Residential Refinancing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 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 | ||
| Joan Billings | 0% | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
| Maureen Shoe | 0% | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
| Admin Assistants | 0% | $3,000 | $3,000 | $3,000 | $3,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $3,000 | $3,000 | $3,000 |
| Total People | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | |
| Total Payroll | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 | |
| 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 | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
| Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
| 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 | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross Margin | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
| Gross Margin % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
| Expenses | |||||||||||||
| Payroll | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 | |
| Sales and Marketing and Other Expenses | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Leased Equipment | $200 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
| Insurance | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
| Rent | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
| Payroll Taxes | 15% | $1,950 | $1,950 | $1,950 | $1,950 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $1,950 | $1,950 | $1,950 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $19,200 | $19,000 | $19,000 | $19,000 | $21,300 | $21,300 | $21,300 | $21,300 | $21,300 | $19,000 | $19,000 | $19,000 | |
| Profit Before Interest and Taxes | ($13,050) | ($12,700) | ($4,830) | $3,000 | $5,450 | $15,200 | $22,700 | $31,700 | $6,733 | ($6,863) | ($10,048) | ($12,145) | |
| EBITDA | ($13,050) | ($12,700) | ($4,830) | $3,000 | $5,450 | $15,200 | $22,700 | $31,700 | $6,733 | ($6,863) | ($10,048) | ($12,145) | |
| Interest Expense | $248 | $246 | $244 | $279 | $277 | $275 | $235 | $233 | $231 | $229 | $227 | $225 | |
| Taxes Incurred | ($3,989) | ($3,884) | ($1,522) | $816 | $1,552 | $4,478 | $6,739 | $9,440 | $1,951 | ($2,128) | ($3,083) | ($3,711) | |
| Net Profit | ($9,309) | ($9,062) | ($3,552) | $1,905 | $3,621 | $10,448 | $15,725 | $22,027 | $4,551 | ($4,965) | ($7,193) | ($8,659) | |
| Net Profit/Sales | -151.36% | -143.84% | -25.06% | 8.66% | 13.54% | 28.62% | 35.74% | 41.56% | 16.24% | -40.90% | -80.35% | -126.32% | |
| 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 | $1,538 | $1,575 | $3,543 | $5,500 | $6,688 | $9,125 | $11,000 | $13,250 | $7,008 | $3,034 | $2,238 | $1,714 | |
| Cash from Receivables | $0 | $154 | $4,616 | $4,922 | $10,823 | $16,619 | $20,306 | $27,563 | $33,225 | $39,126 | $20,627 | $9,023 | |
| Subtotal Cash from Operations | $1,538 | $1,729 | $8,159 | $10,422 | $17,511 | $25,744 | $31,306 | $40,813 | $40,233 | $42,160 | $22,865 | $10,737 | |
| 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 | $4,500 | $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 | $12,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $1,538 | $1,729 | $20,159 | $14,922 | $17,511 | $25,744 | $31,306 | $40,813 | $40,233 | $42,160 | $22,865 | $10,737 | |
| 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 | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 | |
| Bill Payments | $10,082 | $2,455 | $2,441 | $4,801 | $7,130 | $8,226 | $11,127 | $13,365 | $15,724 | $8,336 | $4,070 | $3,124 | |
| Subtotal Spent on Operations | $23,082 | $15,455 | $15,441 | $17,801 | $22,130 | $23,226 | $26,127 | $28,365 | $30,724 | $21,336 | $17,070 | $16,124 | |
| 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 | $4,500 | $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 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
| 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 | $23,332 | $15,705 | $15,691 | $18,051 | $22,380 | $23,476 | $30,877 | $28,615 | $30,974 | $21,586 | $17,320 | $16,374 | |
| Net Cash Flow | ($21,794) | ($13,977) | $4,468 | ($3,129) | ($4,869) | $2,267 | $430 | $12,198 | $9,260 | $20,574 | $5,546 | ($5,637) | |
| Cash Balance | $18,156 | $4,179 | $8,647 | $5,518 | $649 | $2,916 | $3,346 | $15,544 | $24,803 | $45,378 | $50,923 | $45,287 | |
| 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 | $39,950 | $18,156 | $4,179 | $8,647 | $5,518 | $649 | $2,916 | $3,346 | $15,544 | $24,803 | $45,378 | $50,923 | $45,287 |
| Accounts Receivable | $0 | $4,613 | $9,184 | $15,195 | $26,773 | $36,013 | $46,769 | $59,463 | $71,650 | $59,450 | $29,427 | $15,513 | $11,631 |
| Other Current Assets | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
| Total Current Assets | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
| 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 | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
| 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 | $10,000 | $2,377 | $2,283 | $4,564 | $6,859 | $7,858 | $10,684 | $12,832 | $15,441 | $8,199 | $3,965 | $3,040 | $2,430 |
| Current Borrowing | $0 | $0 | $0 | $0 | $4,500 | $4,500 | $4,500 | $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 | $10,000 | $2,377 | $2,283 | $4,564 | $11,359 | $12,358 | $15,184 | $12,832 | $15,441 | $8,199 | $3,965 | $3,040 | $2,430 |
| Long-term Liabilities | $30,000 | $29,750 | $29,500 | $29,250 | $29,000 | $28,750 | $28,500 | $28,250 | $28,000 | $27,750 | $27,500 | $27,250 | $27,000 |
| Total Liabilities | $40,000 | $32,127 | $31,783 | $33,814 | $40,359 | $41,108 | $43,684 | $41,082 | $43,441 | $35,949 | $31,465 | $30,290 | $29,430 |
| Paid-in Capital | $40,000 | $40,000 | $40,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 |
| Retained Earnings | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) |
| Earnings | $0 | ($9,309) | ($18,371) | ($21,922) | ($20,018) | ($16,397) | ($5,949) | $9,776 | $31,803 | $36,354 | $31,389 | $24,197 | $15,538 |
| Total Capital | $19,950 | $10,641 | $1,579 | $10,028 | $11,932 | $15,553 | $26,001 | $41,726 | $63,753 | $68,304 | $63,339 | $56,147 | $47,488 |
| Total Liabilities and Capital | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
| Net Worth | $19,950 | $10,641 | $1,579 | $10,028 | $11,932 | $15,553 | $26,001 | $41,726 | $63,753 | $68,304 | $63,339 | $56,147 | $47,488 |
By 
