Panache Travel Group
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 | |||||||||||||
| Journeys | 0% | $0 | $0 | $0 | $0 | $0 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $30,000 | $30,000 |
| Services | 0% | $0 | $0 | $0 | $0 | $0 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $20,000 | $20,000 |
| Total Sales | $0 | $0 | $0 | $0 | $0 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $50,000 | $50,000 | |
| 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 | |
| Journeys | $0 | $0 | $0 | $0 | $0 | $0 | $39,000 | $39,000 | $39,000 | $39,000 | $23,400 | $23,400 | |
| Services | $0 | $0 | $0 | $0 | $0 | $0 | $27,000 | $27,000 | $27,000 | $27,000 | $18,000 | $18,000 | |
| Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $66,000 | $66,000 | $66,000 | $66,000 | $41,400 | $41,400 | |
| 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 | ||
| President and Development Dir. * | 0% | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Marketing & Advertising Dir. * | 0% | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Office Manager * | 0% | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Accounting | 0% | $0 | $0 | $0 | $0 | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $500 |
| Travel Dir. * | 0% | $0 | $0 | $0 | $0 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Travel Agent | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales Reps. | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Tour Guides | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Additional Office Support | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 10 | 10 | 10 | 10 | 12 | 14 | 14 | 14 | 12 | 10 | 10 | 10 | |
| Total Payroll | $0 | $0 | $0 | $0 | $0 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | |
| 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% | 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 | $0 | $0 | $0 | $0 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $50,000 | $50,000 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $66,000 | $66,000 | $66,000 | $66,000 | $41,400 | $41,400 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $66,000 | $66,000 | $66,000 | $66,000 | $41,400 | $41,400 | |
| Gross Margin | $0 | $0 | $0 | $0 | $0 | $80,000 | $14,000 | $14,000 | $14,000 | $14,000 | $8,600 | $8,600 | |
| Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 100.00% | 17.50% | 17.50% | 17.50% | 17.50% | 17.20% | 17.20% | |
| Expenses | |||||||||||||
| Payroll | $0 | $0 | $0 | $0 | $0 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | |
| Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $2,100 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $0 | $0 | $0 | $0 | $0 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | |
| Insurance | $0 | $0 | $0 | $0 | $0 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
| Rent | $0 | $0 | $0 | $0 | $0 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | |
| Payroll Taxes | 5% | $0 | $0 | $0 | $0 | $0 | $375 | $375 | $375 | $375 | $375 | $375 | $375 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $0 | $0 | $0 | $0 | $0 | $10,500 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | |
| Profit Before Interest and Taxes | $0 | $0 | $0 | $0 | $0 | $69,500 | $4,000 | $4,000 | $4,000 | $4,000 | ($1,400) | ($1,400) | |
| EBITDA | $0 | $0 | $0 | $0 | $0 | $69,500 | $4,000 | $4,000 | $4,000 | $4,000 | ($1,400) | ($1,400) | |
| Interest Expense | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | |
| Taxes Incurred | ($3) | ($2) | ($2) | ($2) | ($2) | $17,373 | $998 | $998 | $998 | $998 | ($352) | ($352) | |
| Net Profit | ($6) | ($7) | ($7) | ($7) | ($7) | $52,118 | $2,993 | $2,993 | $2,993 | $2,993 | ($1,057) | ($1,057) | |
| Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 65.15% | 3.74% | 3.74% | 3.74% | 3.74% | -2.11% | -2.11% | |
| 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 | $0 | $0 | $0 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $50,000 | $50,000 | |
| Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $0 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $50,000 | $50,000 | |
| 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 | $0 | $0 | $0 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $50,000 | $50,000 | |
| 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 | $0 | $0 | $0 | $0 | $0 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | |
| Bill Payments | $0 | $6 | $7 | $7 | $7 | $686 | $22,019 | $69,507 | $69,507 | $69,507 | $68,642 | $43,557 | |
| Subtotal Spent on Operations | $0 | $6 | $7 | $7 | $7 | $8,186 | $29,519 | $77,007 | $77,007 | $77,007 | $76,142 | $51,057 | |
| 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 | $0 | $6 | $7 | $7 | $7 | $8,186 | $29,519 | $77,007 | $77,007 | $77,007 | $76,142 | $51,057 | |
| Net Cash Flow | ($0) | ($6) | ($7) | ($7) | ($7) | $71,814 | $50,481 | $2,993 | $2,993 | $2,993 | ($26,142) | ($1,057) | |
| Cash Balance | $100,000 | $99,993 | $99,986 | $99,980 | $99,973 | $171,787 | $222,267 | $225,260 | $228,254 | $231,247 | $205,105 | $204,048 | |
| 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 | $100,000 | $100,000 | $99,993 | $99,986 | $99,980 | $99,973 | $171,787 | $222,267 | $225,260 | $228,254 | $231,247 | $205,105 | $204,048 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $100,000 | $100,000 | $99,993 | $99,986 | $99,980 | $99,973 | $171,787 | $222,267 | $225,260 | $228,254 | $231,247 | $205,105 | $204,048 |
| 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 | $100,000 | $100,000 | $99,993 | $99,986 | $99,980 | $99,973 | $171,787 | $222,267 | $225,260 | $228,254 | $231,247 | $205,105 | $204,048 |
| 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 | $6 | $7 | $7 | $7 | $7 | $19,702 | $67,190 | $67,190 | $67,190 | $67,190 | $42,105 | $42,105 |
| Current Borrowing | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 | $1,100 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $1,100 | $1,106 | $1,107 | $1,107 | $1,107 | $1,107 | $20,802 | $68,290 | $68,290 | $68,290 | $68,290 | $43,205 | $43,205 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1,100 | $1,106 | $1,107 | $1,107 | $1,107 | $1,107 | $20,802 | $68,290 | $68,290 | $68,290 | $68,290 | $43,205 | $43,205 |
| Paid-in Capital | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
| Retained Earnings | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) | ($1,100) |
| Earnings | $0 | ($6) | ($13) | ($20) | ($27) | ($34) | $52,084 | $55,077 | $58,070 | $61,064 | $64,057 | $63,000 | $61,943 |
| Total Capital | $98,900 | $98,894 | $98,887 | $98,880 | $98,873 | $98,866 | $150,984 | $153,977 | $156,970 | $159,964 | $162,957 | $161,900 | $160,843 |
| Total Liabilities and Capital | $100,000 | $100,000 | $99,993 | $99,986 | $99,980 | $99,973 | $171,787 | $222,267 | $225,260 | $228,254 | $231,247 | $205,105 | $204,048 |
| Net Worth | $98,900 | $98,894 | $98,887 | $98,880 | $98,873 | $98,866 | $150,984 | $153,977 | $156,970 | $159,964 | $162,957 | $161,900 | $160,843 |
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