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Scholarship Assist

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
Sure Things 0% $0 $0 $878 $2,132 $3,323 $4,234 $4,989 $5,234 $5,565 $5,989 $6,343 $7,767
Questionables 0% $0 $0 $808 $1,961 $3,057 $3,895 $4,590 $4,815 $5,120 $5,510 $5,836 $7,146
Total Sales $0 $0 $1,686 $4,093 $6,380 $8,129 $9,579 $10,049 $10,685 $11,499 $12,179 $14,913
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
Sure Things $0 $0 $123 $298 $465 $593 $698 $733 $779 $838 $888 $1,087
Questionables $0 $0 $113 $275 $428 $545 $643 $674 $717 $771 $817 $1,000
Subtotal Direct Cost of Sales $0 $0 $236 $573 $893 $1,138 $1,341 $1,407 $1,496 $1,610 $1,705 $2,088
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
Steve 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Researcher 0% $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Account Manager 0% $0 $0 $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Account Manager 0% $0 $0 $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Total People 1 2 2 4 4 4 4 4 4 4 4 4
Total Payroll $2,000 $3,500 $3,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500

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 $0 $0 $1,686 $4,093 $6,380 $8,129 $9,579 $10,049 $10,685 $11,499 $12,179 $14,913
Direct Cost of Sales $0 $0 $236 $573 $893 $1,138 $1,341 $1,407 $1,496 $1,610 $1,705 $2,088
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $236 $573 $893 $1,138 $1,341 $1,407 $1,496 $1,610 $1,705 $2,088
Gross Margin $0 $0 $1,450 $3,520 $5,487 $6,991 $8,238 $8,642 $9,189 $9,889 $10,474 $12,825
Gross Margin % 0.00% 0.00% 86.00% 86.00% 86.00% 86.00% 86.00% 86.00% 86.00% 86.00% 86.00% 86.00%
Expenses
Payroll $2,000 $3,500 $3,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500
Sales and Marketing and Other Expenses $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350
Depreciation $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Rent $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
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
Payroll Taxes 15% $300 $525 $525 $975 $975 $975 $975 $975 $975 $975 $975 $975
Other $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Total Operating Expenses $3,967 $5,692 $5,692 $9,142 $9,142 $9,142 $9,142 $9,142 $9,142 $9,142 $9,142 $9,142
Profit Before Interest and Taxes ($3,967) ($5,692) ($4,242) ($5,622) ($3,655) ($2,151) ($904) ($500) $47 $747 $1,332 $3,683
EBITDA ($3,800) ($5,525) ($4,075) ($5,455) ($3,488) ($1,984) ($737) ($333) $214 $914 $1,499 $3,850
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($3,967) ($5,692) ($4,242) ($5,622) ($3,655) ($2,151) ($904) ($500) $47 $747 $1,332 $3,683
Net Profit/Sales 0.00% 0.00% -251.65% -137.33% -57.29% -26.46% -9.44% -4.97% 0.44% 6.50% 10.93% 24.70%

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 $0 $0 $1,686 $4,093 $6,380 $8,129 $9,579 $10,049 $10,685 $11,499 $12,179 $14,913
Subtotal Cash from Operations $0 $0 $1,686 $4,093 $6,380 $8,129 $9,579 $10,049 $10,685 $11,499 $12,179 $14,913
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 $0 $0 $1,686 $4,093 $6,380 $8,129 $9,579 $10,049 $10,685 $11,499 $12,179 $14,913
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 $2,000 $3,500 $3,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500
Bill Payments $60 $1,808 $2,033 $2,287 $3,059 $3,376 $3,620 $3,818 $3,885 $3,975 $4,088 $4,193
Subtotal Spent on Operations $2,060 $5,308 $5,533 $8,787 $9,559 $9,876 $10,120 $10,318 $10,385 $10,475 $10,588 $10,693
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 $2,060 $5,308 $5,533 $8,787 $9,559 $9,876 $10,120 $10,318 $10,385 $10,475 $10,588 $10,693
Net Cash Flow ($2,060) ($5,308) ($3,847) ($4,694) ($3,179) ($1,747) ($541) ($269) $300 $1,024 $1,591 $4,220
Cash Balance $20,290 $14,983 $11,135 $6,442 $3,263 $1,516 $975 $706 $1,006 $2,030 $3,621 $7,841
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 $22,350 $20,290 $14,983 $11,135 $6,442 $3,263 $1,516 $975 $706 $1,006 $2,030 $3,621 $7,841
Other Current Assets $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300
Total Current Assets $23,650 $21,590 $16,283 $12,435 $7,742 $4,563 $2,816 $2,275 $2,006 $2,306 $3,330 $4,921 $9,141
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Accumulated Depreciation $0 $167 $334 $501 $668 $835 $1,002 $1,169 $1,336 $1,503 $1,670 $1,837 $2,004
Total Long-term Assets $10,000 $9,833 $9,666 $9,499 $9,332 $9,165 $8,998 $8,831 $8,664 $8,497 $8,330 $8,163 $7,996
Total Assets $33,650 $31,423 $25,949 $21,934 $17,074 $13,728 $11,814 $11,106 $10,670 $10,803 $11,660 $13,084 $17,137
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 $0 $1,740 $1,958 $2,186 $2,946 $3,256 $3,493 $3,689 $3,753 $3,839 $3,949 $4,041 $4,411
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 $0 $1,740 $1,958 $2,186 $2,946 $3,256 $3,493 $3,689 $3,753 $3,839 $3,949 $4,041 $4,411
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $1,740 $1,958 $2,186 $2,946 $3,256 $3,493 $3,689 $3,753 $3,839 $3,949 $4,041 $4,411
Paid-in Capital $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000
Retained Earnings ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350) ($11,350)
Earnings $0 ($3,967) ($9,659) ($13,901) ($19,523) ($23,178) ($25,329) ($26,233) ($26,733) ($26,686) ($25,939) ($24,607) ($20,924)
Total Capital $33,650 $29,683 $23,991 $19,749 $14,127 $10,472 $8,321 $7,417 $6,917 $6,964 $7,711 $9,043 $12,726
Total Liabilities and Capital $33,650 $31,423 $25,949 $21,934 $17,074 $13,728 $11,814 $11,106 $10,670 $10,803 $11,660 $13,084 $17,137
Net Worth $33,650 $29,683 $23,991 $19,749 $14,127 $10,472 $8,321 $7,417 $6,917 $6,964 $7,711 $9,043 $12,726