Telespace, Inc.
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 | |||||||||||||
| MyLine General | 0% | $0 | $9,000 | $10,500 | $12,000 | $13,500 | $15,000 | $16,500 | $18,000 | $19,500 | $21,000 | $22,500 | $25,500 |
| Sports Mom Toll Free | 0% | $0 | $0 | $2,100 | $4,200 | $6,300 | $8,400 | $10,500 | $17,500 | $24,500 | $31,500 | $45,500 | $59,500 |
| Domestic Travelers/Calling Cards | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,850 | $11,100 | $29,600 |
| International Travelers | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,000 | $24,000 | $48,000 |
| Military | 0% | $0 | $0 | $700 | $1,400 | $2,100 | $2,800 | $16,800 | $30,800 | $44,800 | $58,800 | $72,800 | $86,800 |
| Total Sales | $0 | $9,000 | $13,300 | $17,600 | $21,900 | $26,200 | $43,800 | $66,300 | $88,800 | $125,150 | $175,900 | $249,400 | |
| 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 | |
| MyLine General | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sports Mom Toll Free | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Domestic Travelers/Calling Cards | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| International Travelers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Military | $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 | ||
| Production Personnel | |||||||||||||
| VP of Operations-Russ Fish | $1,400 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
| Sr. Systems Engineer-Dana Gilliam | $4,200 | $4,200 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 | |
| Systems Engineer-David Gabler | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | |
| Subtotal | $9,400 | $15,000 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | |
| Sales and Marketing Personnel | |||||||||||||
| VP of Mkg.& Bus.Dev’t-M.van Steenwyk | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
| Sales Channel Managers | $0 | $0 | $0 | $0 | $0 | $0 | $2,500 | $5,000 | $7,500 | $7,500 | $7,500 | $10,000 | |
| Resource Analyst-Amber Higgins | $2,600 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | |
| Account Manager-Brenda Thomasi | $2,000 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | $3,125 | |
| Sales Representatives | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,500 | $5,000 | $5,000 | |
| Subtotal | $10,600 | $12,250 | $12,250 | $12,250 | $12,250 | $12,250 | $15,750 | $18,250 | $20,750 | $23,250 | $25,750 | $28,250 | |
| General and Administrative Personnel | |||||||||||||
| CEO-Trone Miller | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | |
| CFO-Phil ErkenBrack | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $9,167 | $9,167 | $9,167 | $9,167 | $9,167 | $9,167 | |
| Controller | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Billing Supervisor-Hector Padilla | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $4,000 | $4,000 | $4,000 | |
| Accountants | $0 | $0 | $0 | $0 | $0 | $0 | $2,000 | $4,000 | $4,000 | $4,000 | $6,000 | $6,000 | |
| Administration Manager-Betty Benedix | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,500 | $3,500 | |
| Asst. Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Receptionist | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $900 | $900 | $900 | $900 | $900 | |
| Human Resources Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 | $28,500 | $32,400 | $33,400 | $33,900 | $36,400 | $36,400 | |
| Other Personnel | |||||||||||||
| Name or title | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total People | 10 | 10 | 10 | 10 | 10 | 10 | 12 | 15 | 15 | 16 | 17 | 17 | |
| Total Payroll | $42,500 | $49,750 | $50,150 | $50,150 | $50,150 | $50,150 | $59,650 | $66,050 | $69,550 | $72,550 | $77,550 | $80,050 | |
| 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 | 30.00% | 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 | $0 | $9,000 | $13,300 | $17,600 | $21,900 | $26,200 | $43,800 | $66,300 | $88,800 | $125,150 | $175,900 | $249,400 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Production Payroll | $9,400 | $15,000 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | $15,400 | |
| Network expense | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | |
| Total Cost of Sales | $19,400 | $25,000 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | |
| Gross Margin | ($19,400) | ($16,000) | ($12,100) | ($7,800) | ($3,500) | $800 | $18,400 | $40,900 | $63,400 | $99,750 | $150,500 | $224,000 | |
| Gross Margin % | 0.00% | -177.78% | -90.98% | -44.32% | -15.98% | 3.05% | 42.01% | 61.69% | 71.40% | 79.70% | 85.56% | 89.82% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $10,600 | $12,250 | $12,250 | $12,250 | $12,250 | $12,250 | $15,750 | $18,250 | $20,750 | $23,250 | $25,750 | $28,250 | |
| Advertising/Promotion | $0 | $0 | $0 | $0 | $10,000 | $10,000 | $50,000 | $45,000 | $65,000 | $40,000 | $30,000 | $20,000 | |
| Trade Shows | $0 | $0 | $0 | $0 | $0 | $0 | $10,000 | $0 | $0 | $0 | $0 | $0 | |
| Travel | $0 | $0 | $0 | $0 | $3,000 | $3,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Marketing Collateral & Supplies | $0 | $0 | $0 | $0 | $1,500 | $1,500 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
| Publications | $0 | $0 | $0 | $0 | $0 | $0 | $6,500 | $0 | $0 | $0 | $0 | $0 | |
| Demos and Samples | $0 | $0 | $0 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $2,000 | $2,000 | |
| Total Sales and Marketing Expenses | $10,600 | $12,250 | $12,250 | $12,250 | $27,750 | $27,750 | $91,250 | $72,250 | $94,750 | $72,250 | $65,750 | $58,250 | |
| Sales and Marketing % | 0.00% | 136.11% | 92.11% | 69.60% | 126.71% | 105.92% | 208.33% | 108.97% | 106.70% | 57.73% | 37.38% | 23.36% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 | $28,500 | $32,400 | $33,400 | $33,900 | $36,400 | $36,400 | |
| Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Depreciation | $0 | $0 | $0 | $0 | $1,000 | $2,000 | $3,000 | $4,000 | $5,000 | $6,000 | $7,000 | $8,000 | |
| Leased Equipment | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Utilities | $500 | $500 | $500 | $500 | $500 | $500 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Insurance | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Rent | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $3,000 | $3,000 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Payroll Taxes | 23% | $9,775 | $11,443 | $11,535 | $11,535 | $11,535 | $11,535 | $13,720 | $15,192 | $15,997 | $16,687 | $17,837 | $18,412 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total General and Administrative Expenses | $36,775 | $38,443 | $38,535 | $38,535 | $39,535 | $40,535 | $50,220 | $57,592 | $60,397 | $62,587 | $68,237 | $69,812 | |
| General and Administrative % | 0.00% | 427.14% | 289.73% | 218.95% | 180.52% | 154.71% | 114.66% | 86.87% | 68.01% | 50.01% | 38.79% | 27.99% | |
| Other Expenses: | |||||||||||||
| Other Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Contract/Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Total Operating Expenses | $47,375 | $50,693 | $50,785 | $50,785 | $67,285 | $68,285 | $141,470 | $129,842 | $155,147 | $134,837 | $133,987 | $128,062 | |
| Profit Before Interest and Taxes | ($66,775) | ($66,693) | ($62,885) | ($58,585) | ($70,785) | ($67,485) | ($123,070) | ($88,942) | ($91,747) | ($35,087) | $16,514 | $95,939 | |
| EBITDA | ($66,775) | ($66,693) | ($62,885) | ($58,585) | ($69,785) | ($65,485) | ($120,070) | ($84,942) | ($86,747) | ($29,087) | $23,514 | $103,939 | |
| Interest Expense | $625 | $1,375 | $1,875 | $2,583 | $2,458 | $2,333 | $2,208 | $2,083 | $1,958 | $1,833 | $1,708 | $1,583 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($67,400) | ($68,068) | ($64,760) | ($61,168) | ($73,243) | ($69,818) | ($125,278) | ($91,025) | ($93,705) | ($36,920) | $14,805 | $94,355 | |
| Net Profit/Sales | 0.00% | -756.31% | -486.91% | -347.54% | -334.44% | -266.48% | -286.02% | -137.29% | -105.52% | -29.50% | 8.42% | 37.83% | |
| 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 | $450 | $665 | $880 | $1,095 | $1,310 | $2,190 | $3,315 | $4,440 | $6,258 | $8,795 | $12,470 | |
| Cash from Receivables | $0 | $0 | $285 | $8,686 | $12,771 | $16,856 | $20,941 | $25,447 | $42,323 | $63,698 | $85,511 | $120,500 | |
| Subtotal Cash from Operations | $0 | $450 | $950 | $9,566 | $13,866 | $18,166 | $23,131 | $28,762 | $46,763 | $69,955 | $94,306 | $132,970 | |
| 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 | $75,000 | $100,000 | $75,000 | $100,000 | $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 | $250,000 | $250,000 | $0 | $250,000 | $250,000 | $0 | $250,000 | $0 | |
| Subtotal Cash Received | $75,000 | $100,450 | $75,950 | $109,566 | $263,866 | $268,166 | $23,131 | $278,762 | $296,763 | $69,955 | $344,306 | $132,970 | |
| 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 | $42,500 | $49,750 | $50,150 | $50,150 | $50,150 | $50,150 | $59,650 | $66,050 | $69,550 | $72,550 | $77,550 | $80,050 | |
| Bill Payments | $830 | $24,981 | $27,337 | $27,933 | $29,130 | $43,989 | $45,953 | $105,789 | $87,964 | $107,140 | $83,287 | $76,226 | |
| Subtotal Spent on Operations | $43,330 | $74,731 | $77,487 | $78,083 | $79,280 | $94,139 | $105,603 | $171,839 | $157,514 | $179,690 | $160,837 | $156,277 | |
| 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 | $10,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | |
| 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 | $45,000 | $45,000 | $45,000 | $45,000 | $45,000 | $45,000 | $45,000 | $45,000 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $43,330 | $84,731 | $92,487 | $93,083 | $139,280 | $154,139 | $165,603 | $231,839 | $217,514 | $239,690 | $220,837 | $216,277 | |
| Net Cash Flow | $31,670 | $15,719 | ($16,537) | $16,483 | $124,586 | $114,028 | ($142,472) | $46,923 | $79,248 | ($169,735) | $123,469 | ($83,307) | |
| Cash Balance | $31,670 | $47,389 | $30,852 | $47,335 | $171,921 | $285,949 | $143,477 | $190,400 | $269,648 | $99,913 | $223,381 | $140,074 | |
| 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 | $0 | $31,670 | $47,389 | $30,852 | $47,335 | $171,921 | $285,949 | $143,477 | $190,400 | $269,648 | $99,913 | $223,381 | $140,074 |
| Accounts Receivable | $0 | $0 | $8,550 | $20,900 | $28,934 | $36,968 | $45,002 | $65,670 | $103,208 | $145,246 | $200,441 | $282,034 | $398,465 |
| Inventory | $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 |
| Other Current 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 |
| Total Current Assets | $30,000 | $61,670 | $85,939 | $81,752 | $106,269 | $238,889 | $360,950 | $239,147 | $323,608 | $444,893 | $330,353 | $535,416 | $568,539 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $0 | $0 | $0 | $0 | $0 | $45,000 | $90,000 | $135,000 | $180,000 | $225,000 | $270,000 | $315,000 | $360,000 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $1,000 | $3,000 | $6,000 | $10,000 | $15,000 | $21,000 | $28,000 | $36,000 |
| Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $44,000 | $87,000 | $129,000 | $170,000 | $210,000 | $249,000 | $287,000 | $324,000 |
| Total Assets | $30,000 | $61,670 | $85,939 | $81,752 | $106,269 | $282,889 | $447,950 | $368,147 | $493,608 | $654,893 | $579,353 | $822,416 | $892,539 |
| 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 | $24,070 | $26,407 | $26,979 | $27,664 | $42,526 | $42,406 | $102,880 | $84,366 | $104,356 | $80,736 | $73,993 | $64,762 |
| Current Borrowing | $0 | $75,000 | $165,000 | $225,000 | $310,000 | $295,000 | $280,000 | $265,000 | $250,000 | $235,000 | $220,000 | $205,000 | $190,000 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $0 | $99,070 | $191,407 | $251,979 | $337,664 | $337,526 | $322,406 | $367,880 | $334,366 | $339,356 | $300,736 | $278,993 | $254,762 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $0 | $99,070 | $191,407 | $251,979 | $337,664 | $337,526 | $322,406 | $367,880 | $334,366 | $339,356 | $300,736 | $278,993 | $254,762 |
| Paid-in Capital | $87,500 | $87,500 | $87,500 | $87,500 | $87,500 | $337,500 | $587,500 | $587,500 | $837,500 | $1,087,500 | $1,087,500 | $1,337,500 | $1,337,500 |
| Retained Earnings | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) | ($57,500) |
| Earnings | $0 | ($67,400) | ($135,468) | ($200,227) | ($261,395) | ($334,638) | ($404,456) | ($529,733) | ($620,758) | ($714,463) | ($751,383) | ($736,578) | ($642,223) |
| Total Capital | $30,000 | ($37,400) | ($105,468) | ($170,227) | ($231,395) | ($54,638) | $125,545 | $267 | $159,242 | $315,537 | $278,617 | $543,422 | $637,777 |
| Total Liabilities and Capital | $30,000 | $61,670 | $85,939 | $81,752 | $106,269 | $282,889 | $447,950 | $368,147 | $493,608 | $654,893 | $579,353 | $822,416 | $892,539 |
| Net Worth | $30,000 | ($37,400) | ($105,467) | ($170,227) | ($231,395) | ($54,638) | $125,545 | $267 | $159,242 | $315,537 | $278,617 | $543,422 | $637,778 |
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