Vino Maestro Ltd.
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 | |||||||||||||
| Wine | 0% | $40,000 | $45,000 | $50,000 | $50,000 | $60,000 | $75,000 | $100,000 | $125,000 | $70,000 | $70,000 | $75,000 | $80,000 |
| Spirits | 0% | $4,000 | $4,500 | $5,000 | $5,000 | $6,000 | $7,500 | $10,000 | $12,500 | $7,000 | $7,000 | $7,500 | $8,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Sales | $44,000 | $49,500 | $55,000 | $55,000 | $66,000 | $82,500 | $110,000 | $137,500 | $77,000 | $77,000 | $82,500 | $88,000 | |
| 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 | |
| Wine | $24,242 | $27,273 | $30,303 | $30,303 | $36,364 | $45,455 | $60,606 | $75,758 | $42,424 | $42,424 | $45,455 | $48,485 | |
| Spirits | $3,279 | $3,689 | $4,098 | $4,098 | $4,918 | $6,148 | $8,197 | $10,246 | $5,738 | $5,738 | $6,148 | $6,557 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $27,521 | $30,961 | $34,401 | $34,401 | $41,282 | $51,602 | $68,803 | $86,003 | $48,162 | $48,162 | $51,602 | $55,042 | |
| 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 | ||
| Store Managers/Partners | 0% | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 |
| Salespeople — Full-time | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Salespeople — Seasonal | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $930 | $1,860 | $1,860 | $0 | $0 | $0 |
| Stock/Delivery — Full-time | 0% | $2,050 | $1,640 | $1,640 | $2,050 | $1,640 | $1,640 | $2,050 | $1,640 | $1,640 | $2,050 | $1,640 | $1,640 |
| Stock/Delivery — Seasonal | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $820 | $1,640 | $0 | $0 | $0 | $0 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 6 | 6 | 6 | 6 | 6 | 6 | 8 | 8 | 6 | 6 | 6 | 6 | |
| Total Payroll | $10,050 | $9,640 | $9,640 | $10,050 | $9,640 | $9,640 | $11,800 | $13,140 | $11,500 | $10,050 | $9,640 | $9,640 | |
| 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 | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |
| Long-term Interest Rate | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | |
| 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 | $44,000 | $49,500 | $55,000 | $55,000 | $66,000 | $82,500 | $110,000 | $137,500 | $77,000 | $77,000 | $82,500 | $88,000 | |
| Direct Cost of Sales | $27,521 | $30,961 | $34,401 | $34,401 | $41,282 | $51,602 | $68,803 | $86,003 | $48,162 | $48,162 | $51,602 | $55,042 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $27,521 | $30,961 | $34,401 | $34,401 | $41,282 | $51,602 | $68,803 | $86,003 | $48,162 | $48,162 | $51,602 | $55,042 | |
| Gross Margin | $16,479 | $18,539 | $20,599 | $20,599 | $24,718 | $30,898 | $41,197 | $51,497 | $28,838 | $28,838 | $30,898 | $32,958 | |
| Gross Margin % | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | 37.45% | |
| Expenses | |||||||||||||
| Payroll | $10,050 | $9,640 | $9,640 | $10,050 | $9,640 | $9,640 | $11,800 | $13,140 | $11,500 | $10,050 | $9,640 | $9,640 | |
| Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Depreciation | $880 | $990 | $1,100 | $1,100 | $1,320 | $1,650 | $2,200 | $2,750 | $1,540 | $1,540 | $1,650 | $1,760 | |
| POS computer software lease | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
| Rent | $0 | $0 | $0 | $6,233 | $6,233 | $6,233 | $6,233 | $6,233 | $6,233 | $6,233 | $6,233 | $6,233 | |
| Utilities- HVAC and phone/data lines | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Insurance | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Vehicle Delivery Expenses | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Maintenance/Repairs | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Cleaning/Supplies | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Rent | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | $1,972 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Advertising/Marketing | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Payroll Taxes | 16% | $1,608 | $1,542 | $1,542 | $1,608 | $1,542 | $1,542 | $1,888 | $2,102 | $1,840 | $1,608 | $1,542 | $1,542 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $18,260 | $17,894 | $18,004 | $24,713 | $24,457 | $24,787 | $27,843 | $29,947 | $26,835 | $25,153 | $24,787 | $24,897 | |
| Profit Before Interest and Taxes | ($1,781) | $644 | $2,594 | ($4,114) | $261 | $6,111 | $13,355 | $21,550 | $2,004 | $3,686 | $6,111 | $8,061 | |
| EBITDA | ($901) | $1,634 | $3,694 | ($3,014) | $1,581 | $7,761 | $15,555 | $24,300 | $3,544 | $5,226 | $7,761 | $9,821 | |
| Interest Expense | $2,174 | $2,148 | $2,121 | $2,095 | $2,069 | $2,043 | $2,017 | $1,990 | $1,964 | $1,938 | $1,912 | $1,886 | |
| Taxes Incurred | ($1,186) | ($376) | $118 | ($1,552) | ($452) | $1,017 | $2,835 | $4,890 | $10 | $437 | $1,050 | $1,544 | |
| Net Profit | ($2,768) | ($1,127) | $355 | ($4,657) | ($1,356) | $3,051 | $8,504 | $14,669 | $29 | $1,311 | $3,149 | $4,631 | |
| Net Profit/Sales | -6.29% | -2.28% | 0.64% | -8.47% | -2.05% | 3.70% | 7.73% | 10.67% | 0.04% | 1.70% | 3.82% | 5.26% | |
| 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 | $44,000 | $49,500 | $55,000 | $55,000 | $66,000 | $82,500 | $110,000 | $137,500 | $77,000 | $77,000 | $82,500 | $88,000 | |
| Subtotal Cash from Operations | $44,000 | $49,500 | $55,000 | $55,000 | $66,000 | $82,500 | $110,000 | $137,500 | $77,000 | $77,000 | $82,500 | $88,000 | |
| 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 | $44,000 | $49,500 | $55,000 | $55,000 | $66,000 | $82,500 | $110,000 | $137,500 | $77,000 | $77,000 | $82,500 | $88,000 | |
| 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 | $10,050 | $9,640 | $9,640 | $10,050 | $9,640 | $9,640 | $11,800 | $13,140 | $11,500 | $10,050 | $9,640 | $9,640 | |
| Bill Payments | $277 | $8,341 | $9,052 | $10,162 | $30,390 | $64,482 | $80,408 | $107,065 | $122,410 | $23,698 | $64,358 | $71,975 | |
| Subtotal Spent on Operations | $10,327 | $17,981 | $18,692 | $20,212 | $40,030 | $74,122 | $92,208 | $120,205 | $133,910 | $33,748 | $73,998 | $81,615 | |
| 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 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | $2,857 | |
| 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 | $13,184 | $20,838 | $21,549 | $23,069 | $42,887 | $76,979 | $95,065 | $123,062 | $136,767 | $36,605 | $76,855 | $84,472 | |
| Net Cash Flow | $30,816 | $28,662 | $33,451 | $31,931 | $23,113 | $5,521 | $14,935 | $14,438 | ($59,767) | $40,395 | $5,645 | $3,528 | |
| Cash Balance | $100,816 | $129,477 | $162,929 | $194,860 | $217,973 | $223,494 | $238,429 | $252,866 | $193,100 | $233,495 | $239,140 | $242,668 | |
| 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 | $70,000 | $100,816 | $129,477 | $162,929 | $194,860 | $217,973 | $223,494 | $238,429 | $252,866 | $193,100 | $233,495 | $239,140 | $242,668 |
| Inventory | $150,000 | $122,479 | $91,518 | $57,116 | $37,842 | $45,410 | $56,762 | $75,683 | $94,604 | $52,978 | $52,978 | $56,762 | $60,546 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $220,000 | $223,295 | $220,995 | $220,045 | $232,702 | $263,383 | $280,256 | $314,112 | $347,470 | $246,078 | $286,473 | $295,902 | $303,215 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 | $180,000 |
| Accumulated Depreciation | $0 | $880 | $1,870 | $2,970 | $4,070 | $5,390 | $7,040 | $9,240 | $11,990 | $13,530 | $15,070 | $16,720 | $18,480 |
| Total Long-term Assets | $180,000 | $179,120 | $178,130 | $177,030 | $175,930 | $174,610 | $172,960 | $170,760 | $168,010 | $166,470 | $164,930 | $163,280 | $161,520 |
| Total Assets | $400,000 | $402,415 | $399,125 | $397,075 | $408,632 | $437,993 | $453,216 | $484,872 | $515,480 | $412,548 | $451,403 | $459,182 | $464,735 |
| 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 | $8,040 | $8,735 | $9,187 | $28,258 | $61,832 | $76,861 | $102,870 | $121,666 | $21,561 | $61,963 | $69,450 | $73,228 |
| 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 | $8,040 | $8,735 | $9,187 | $28,258 | $61,832 | $76,861 | $102,870 | $121,666 | $21,561 | $61,963 | $69,450 | $73,228 |
| Long-term Liabilities | $240,000 | $237,143 | $234,286 | $231,429 | $228,572 | $225,715 | $222,858 | $220,001 | $217,144 | $214,287 | $211,430 | $208,573 | $205,716 |
| Total Liabilities | $240,000 | $245,183 | $243,021 | $240,616 | $256,830 | $287,547 | $299,719 | $322,871 | $338,810 | $235,848 | $273,393 | $278,023 | $278,944 |
| Paid-in Capital | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 | $235,000 |
| Retained Earnings | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) | ($75,000) |
| Earnings | $0 | ($2,768) | ($3,896) | ($3,541) | ($8,198) | ($9,554) | ($6,503) | $2,001 | $16,670 | $16,700 | $18,010 | $21,159 | $25,791 |
| Total Capital | $160,000 | $157,232 | $156,104 | $156,459 | $151,802 | $150,446 | $153,497 | $162,001 | $176,670 | $176,700 | $178,010 | $181,159 | $185,791 |
| Total Liabilities and Capital | $400,000 | $402,415 | $399,125 | $397,075 | $408,632 | $437,993 | $453,216 | $484,872 | $515,480 | $412,548 | $451,403 | $459,182 | $464,735 |
| Net Worth | $160,000 | $157,232 | $156,104 | $156,459 | $151,802 | $150,446 | $153,497 | $162,001 | $176,670 | $176,700 | $178,010 | $181,159 | $185,791 |
By 
