Saskatchewan projections revised · 2011. 2. 4. · ORBIT CANADA INC. SASKATCHEWAN PRO FORMA FINANCIAL PROJECTIONS Saskatchewan projections revised Orbit Canada Inc. Pro Forma Income

ORBIT CANADA INC.SASKATCHEWAN

PRO FORMA FINANCIAL PROJECTIONS

Saskatchewan projections revised

Orbit Canada Inc. Pro Forma Income Statement

Month JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Y/E DECYear 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000

TOTAL REVENUE 79,299$ 121,377$ 163,455$ 205,532$ 247,610$ 289,688$ 331,766$ 373,843$ 415,921$ 457,999$ 500,076$ 542,154$ 3,728,720$

TOTAL COST OF GOODS SOLD 15,947$ 27,311$ 38,675$ 50,039$ 61,403$ 72,767$ 84,131$ 95,495$ 106,859$ 118,223$ 129,586$ 140,950$ 941,386$

GROSS PROFIT 63,352$ 94,066$ 124,780$ 155,493$ 186,207$ 216,921$ 247,635$ 278,349$ 309,062$ 339,776$ 370,490$ 401,204$ 2,787,335$

OPERATING EXPENSES Salaries, Benefits and Related Expenses 108,403$ 137,054$ 144,706$ 144,706$ 147,917$ 147,917$ 151,620$ 151,620$ 154,586$ 154,586$ 162,242$ 162,242$ 1,767,600$ Marketing 304,583 309,999 500,415 139,165 144,581 149,997 155,413 160,829 166,245 171,661 177,078 182,494 2,562,459 Subcontract and Consulting Fees 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 Equipment & Software Technical Support 21,000 21,000 21,000 21,000 21,000 21,000 21,000 21,000 21,000 21,000 21,000 21,000 252,000 Maintenance and Repairs of facilities 825 1,649 2,474 3,351 4,227 5,115 6,106 6,931 7,807 8,694 9,530 10,354 67,063 Main Head-End Access charges: 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 180,000 One time installation charges: 37,300 37,300 Monthly local access at the repeater sites 750 750 750 750 750 750 750 750 750 750 750 750 9,000 Office Rents, Property & Business Taxes 833 833 833 833 833 833 833 833 833 833 833 833 10,000 Main Head End Rent 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000 Repeater Site 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 36,000 Vehicle Expenses 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000 Field Representative Expenses 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000 Telephone and Office Supplies 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000 Legal & Accounting 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 Insurance 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 Bank Charges 500 500 500 500 500 500 500 500 500 500 500 500 6,000 Bad Debt Expense 793 1,214 1,635 2,055 2,476 2,897 3,318 3,738 4,159 4,580 5,001 5,422 37,287 R & D Expenses 1,586 2,428 3,269 4,111 4,952 5,794 6,635 7,477 8,318 9,160 10,002 10,843 74,574 Education Fund 3,965 6,069 8,173 10,277 12,381 14,484 16,588 18,692 20,796 22,900 25,004 27,108 186,436 License Fees 440,549 440,549 Contingency 625 625 625 625 625 625 625 625 625 625 625 625 7,500

TOTAL OPERATING EXPENSES 500,863$ 539,121$ 1,181,929$ 384,373$ 397,242$ 406,911$ 457,689$ 429,996$ 442,620$ 452,290$ 469,564$ 479,171$ 6,141,769$

EBITDA (437,511)$ (445,055)$ (1,057,150)$ (228,879)$ (211,035)$ (189,990)$ (210,054)$ (151,647)$ (133,558)$ (112,514)$ (99,074)$ (77,967)$ (3,354,434)$ Amortization (6,597) (13,194) (19,792) (26,806) (33,819) (40,917) (48,847) (55,444) (62,458) (69,556) (76,236) (82,833) (536,500) Interest Expenses (3,640) (11,123) (18,425) (27,553) (29,991) (32,303) (34,462) (36,802) (38,685) (40,435) (42,028) (43,524) (358,970) Income Taxes 201,487 211,218 492,915 127,457 123,680 118,444 132,013 109,752 105,615 100,127 97,802 91,946 1,912,457

NET INCOME (246,262)$ (258,155)$ (602,452)$ (155,781)$ (151,165)$ (144,765)$ (161,350)$ (134,142)$ (129,086)$ (122,377)$ (119,536)$ (112,378)$ (2,337,447)$



Orbit Canada Inc. Pro Forma Balance Sheet

Month JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Y/E DECYear 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000ASSETSCURRENT ASSETS

Cash -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Accounts Receivable 79,299 121,377 163,455 205,532 247,610 289,688 331,766 373,843 415,921 457,999 500,076 542,154 542,154 Prepaid & Sundry Assets - - - - - - - - - - - - -

TOTAL CURRENT ASSETS 79,299$ 121,377$ 163,455$ 205,532$ 247,610$ 289,688$ 331,766$ 373,843$ 415,921$ 457,999$ 500,076$ 542,154$ 542,154$

R&D TAX CREDIT RECEIVABLE -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

CAPITAL ASSETSCapital Assets 395,833$ 791,667$ 1,187,500$ 1,608,333$ 2,029,167$ 2,455,000$ 2,930,833$ 3,326,667$ 3,747,500$ 4,173,333$ 4,574,167$ 4,970,000$ 4,970,000$ Accumulated Amortization 6,597 19,792 39,583 66,389 100,208 141,125 189,972 245,417 307,875 377,431 453,667 536,500 536,500

NET CAPITAL ASSETS 389,236$ 771,875$ 1,147,917$ 1,541,944$ 1,928,958$ 2,313,875$ 2,740,861$ 3,081,250$ 3,439,625$ 3,795,903$ 4,120,500$ 4,433,500$ 4,433,500$ TOTAL ASSETS 468,535$ 893,252$ 1,311,371$ 1,747,477$ 2,176,568$ 2,603,563$ 3,072,627$ 3,455,093$ 3,855,546$ 4,253,902$ 4,620,576$ 4,975,654$ 4,975,654$

LIABILITIES AND OWNERS' EQUITYCURRENT LIABILITIES

Accounts Payable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Income Tax Payable (402,085) (613,303) (1,106,218) (1,233,675) (1,357,355) (1,475,800) (1,607,813) (1,717,565) (1,823,181) (1,923,307) (2,021,109) (2,113,055) (2,113,055)

TOTAL CURRENT LIABILITIES (402,085)$ (613,303)$ (1,106,218)$ (1,233,675)$ (1,357,355)$ (1,475,800)$ (1,607,813)$ (1,717,565)$ (1,823,181)$ (1,923,307)$ (2,021,109)$ (2,113,055)$ (2,113,055)$

LONG-TERM LIABILITIESLease\ Loan Obligation - - 387,917 792,417 1,188,500 1,582,047 2,016,722 2,364,305 2,729,435 3,092,163 3,423,137 3,742,590 3,742,590 Other Long Term Debt - - - - - - - - - - - - -

TOTAL LONG-TERM LIABILITIES -$ -$ 387,917$ 792,417$ 1,188,500$ 1,582,047$ 2,016,722$ 2,364,305$ 2,729,435$ 3,092,163$ 3,423,137$ 3,742,590$ 3,742,590$

TOTAL LIABILITIES (402,085)$ (613,303)$ (718,302)$ (441,259)$ (168,855)$ 106,247$ 408,909$ 646,740$ 906,255$ 1,168,856$ 1,402,027$ 1,629,535$ 1,629,535$

SHAREHOLDERS EQUITYCapital Stock -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ New Equity Capital / Debt 1,362,058 2,256,148 3,381,718 3,696,561 4,004,414 4,301,071 4,628,822 4,907,600 5,177,623 5,435,755 5,688,794 5,928,742 5,928,742 Retained Earnings (491,438) (749,593) (1,352,045) (1,507,825) (1,658,990) (1,803,755) (1,965,105) (2,099,246) (2,228,332) (2,350,709) (2,470,245) (2,582,623) (2,582,623)

TOTAL SHAREHOLDERS EQUITY 870,621$ 1,506,555$ 2,029,673$ 2,188,735$ 2,345,424$ 2,497,316$ 2,663,717$ 2,808,354$ 2,949,291$ 3,085,046$ 3,218,549$ 3,346,119$ 3,346,119$

TOTAL LIABILITIES & EQUITY 468,535$ 893,252$ 1,311,371$ 1,747,477$ 2,176,568$ 2,603,563$ 3,072,627$ 3,455,093$ 3,855,546$ 4,253,902$ 4,620,576$ 4,975,654$ 4,975,654$



Orbit Canada Inc. Pro Forma Cash Flow Statement

Month JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Y/E DECYear 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000

Receipts -$ 79,299$ 121,377$ 163,455$ 205,532$ 247,610$ 289,688$ 331,766$ 373,843$ 415,921$ 457,999$ 500,076$ 3,186,566$

DisbursementsCost of Goods Sold 15,947$ 27,311$ 38,675$ 50,039$ 61,403$ 72,767$ 84,131$ 95,495$ 106,859$ 118,223$ 129,586$ 140,950$ 941,386$ Operating Expenses 500,863 539,121 1,181,929 384,373 397,242 406,911 457,689 429,996 442,620 452,290 469,564 479,171 6,141,769

Total Disbursements 516,810$ 566,432$ 1,220,604$ 434,412$ 458,645$ 479,678$ 541,820$ 525,490$ 549,479$ 570,512$ 599,150$ 620,121$ 7,083,154$

Cash Flow from Operations (516,810)$ (487,133)$ (1,099,227)$ (270,957)$ (253,112)$ (232,068)$ (252,132)$ (193,725)$ (175,636)$ (154,591)$ (141,151)$ (120,045)$ (3,896,588)$

Opening Bank Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

Capital Assets Leased (395,833)$ (395,833)$ (395,833)$ (420,833)$ (420,833)$ (425,833)$ (475,833)$ (395,833)$ (420,833)$ (425,833)$ (400,833)$ (395,833)$ (4,970,000)$ Capital Assets PurchasedInterest Payments (3,640) (11,123) (18,425) (27,553) (29,991) (32,303) (34,462) (36,802) (38,685) (40,435) (42,028) (43,524) (358,970)$

Income Tax Payments - - - - - - - - - - - - -

Capital Raised 916,284$ 894,090$ 1,513,486$ 719,343$ 703,936$ 690,204$ 762,427$ 626,360$ 635,154$ 620,860$ 584,012$ 559,402$ 9,225,558$

Closing Bank Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$





MonthYear

TOTAL REVENUE

TOTAL COST OF GOODS SOLD

GROSS PROFIT

OPERATING EXPENSES Salaries, Benefits and Related ExpensesMarketing Subcontract and Consulting Fees Equipment & Software Technical SupportMaintenance and Repairs of facilitiesMain Head-End Access charges:One time installation charges:Monthly local access at the repeater sitesOffice Rents, Property & Business TaxesMain Head End RentRepeater Site RentVehicle Expenses Field Representative ExpensesTelephone and Office SuppliesLegal & Accounting Insurance Bank Charges Bad Debt ExpenseR & D Expenses Education FundLicense FeesContingency

TOTAL OPERATING EXPENSES

EBITDAAmortizationInterest Expenses Income Taxes

NET INCOME




MonthYearASSETSCURRENT ASSETS

CashAccounts ReceivablePrepaid & Sundry Assets

TOTAL CURRENT ASSETS

R&D TAX CREDIT RECEIVABLE

CAPITAL ASSETSCapital AssetsAccumulated Amortization

NET CAPITAL ASSETS TOTAL ASSETS


Accounts PayableIncome Tax Payable

TOTAL CURRENT LIABILITIES

LONG-TERM LIABILITIESLease\ Loan ObligationOther Long Term Debt

TOTAL LONG-TERM LIABILITIES

TOTAL LIABILITIES

SHAREHOLDERS EQUITYCapital StockNew Equity Capital / DebtRetained Earnings

TOTAL SHAREHOLDERS EQUITY

TOTAL LIABILITIES & EQUITY




MonthYear

Receipts

DisbursementsCost of Goods SoldOperating Expenses

Total Disbursements

Cash Flow from Operations

Opening Bank Balance

Capital Assets LeasedCapital Assets PurchasedInterest Payments

Income Tax Payments

Capital Raised

Closing Bank Balance





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Y/E DEC2001 2001 2001 2001 2001 2001 2001 2001 2001 2001 2001 2001 2001

573,234$ 602,617$ 632,000$ 661,383$ 690,767$ 720,150$ 749,533$ 778,916$ 808,300$ 837,683$ 867,066$ 896,450$ 8,818,099$

144,196$ 149,774$ 155,353$ 160,932$ 166,510$ 172,089$ 177,668$ 183,246$ 188,825$ 194,404$ 199,982$ 205,561$ 2,098,539$

429,038$ 452,843$ 476,647$ 500,452$ 524,256$ 548,061$ 571,866$ 595,670$ 619,475$ 643,280$ 667,084$ 690,889$ 6,719,560$

170,924$ 196,368$ 221,290$ 221,290$ 221,290$ 221,290$ 225,105$ 225,105$ 225,105$ 225,105$ 232,991$ 232,991$ 2,618,858$ 184,625 186,756 388,888 191,019 193,150 195,281 197,413 199,544 201,675 203,806 205,938 208,069 2,556,163

9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 108,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 312,000 12,188 14,010 15,844 17,667 19,510 21,333 23,333 25,156 26,990 28,875 30,740 32,563 268,208 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 900,000

111,900 111,900 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000

833 833 833 833 833 833 833 833 833 833 833 833 10,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 192,000

7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 84,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000

10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000

10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000

500 500 500 500 500 500 500 500 500 500 500 500 6,000 5,732 6,026 6,320 6,614 6,908 7,201 7,495 7,789 8,083 8,377 8,671 8,964 88,181

11,465 12,052 12,640 13,228 13,815 14,403 14,991 15,578 16,166 16,754 17,341 17,929 176,362 28,662 30,131 31,600 33,069 34,538 36,007 37,477 38,946 40,415 41,884 43,353 44,822 440,905

449,360 449,360 625 625 625 625 625 625 625 625 625 625 625 625 7,500

581,054$ 612,803$ 1,293,400$ 650,345$ 656,671$ 662,975$ 785,172$ 679,577$ 685,892$ 692,260$ 706,492$ 712,797$ 8,719,437$

(152,016)$ (159,960)$ (816,753)$ (149,893)$ (132,414)$ (114,914)$ (213,306)$ (83,907)$ (66,417)$ (48,980)$ (39,408)$ (21,908)$ (1,999,877)$ (97,500) (112,083) (126,750) (141,333) (156,083) (170,667) (186,667) (201,250) (215,917) (231,000) (245,917) (260,500) (2,145,667) (44,859) (53,908) (61,054) (77,636) (86,880) (96,138) (105,247) (115,929) (124,947) (133,936) (143,061) (152,100) (1,195,693) 132,469 146,678 452,050 165,988 168,920 171,774 227,349 180,488 183,276 186,262 192,773 195,529 2,403,556

(161,906)$ (179,273)$ (552,506)$ (202,874)$ (206,457)$ (209,945)$ (277,871)$ (220,597)$ (224,004)$ (227,654)$ (235,612)$ (238,979)$ (2,937,680)$















TOTAL LIABILITIES





-$ (243,251)$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 573,234 602,617 632,000 661,383 690,767 720,150 749,533 778,916 808,300 837,683 867,066 896,450 896,450

- - - - - - - - - - - - - 573,234$ 359,366$ 632,000$ 661,383$ 690,767$ 720,150$ 749,533$ 778,916$ 808,300$ 837,683$ 867,066$ 896,450$ 896,450$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

5,850,000$ 6,725,000$ 7,605,000$ 8,480,000$ 9,365,000$ 10,240,000$ 11,200,000$ 12,075,000$ 12,955,000$ 13,860,000$ 14,755,000$ 15,630,000$ 15,630,000$ 634,000 746,083 872,833 1,014,167 1,170,250 1,340,917 1,527,583 1,728,833 1,944,750 2,175,750 2,421,667 2,682,167 2,682,167

5,216,000$ 5,978,917$ 6,732,167$ 7,465,833$ 8,194,750$ 8,899,083$ 9,672,417$ 10,346,167$ 11,010,250$ 11,684,250$ 12,333,333$ 12,947,833$ 12,947,833$

5,789,234$ 6,338,282$ 7,364,167$ 8,127,217$ 8,885,517$ 9,619,233$ 10,421,950$ 11,125,083$ 11,818,550$ 12,521,933$ 13,200,400$ 13,844,283$ 13,844,283$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ (2,245,524) (2,392,202) (2,844,252) (3,010,240) (3,179,160) (3,350,933) (3,578,283) (3,758,771) (3,942,047) (4,128,310) (4,321,083) (4,516,611) (4,516,611) (2,245,524)$ (2,392,202)$ (2,844,252)$ (3,010,240)$ (3,179,160)$ (3,350,933)$ (3,578,283)$ (3,758,771)$ (3,942,047)$ (4,128,310)$ (4,321,083)$ (4,516,611)$ (4,516,611)$

3,667,739 3,594,384 3,522,496 3,452,046 3,383,005 3,315,345 3,249,038 3,184,058 3,120,376 3,057,969 2,996,810 2,936,873 2,936,873 - - - - - - - - - - - - -

3,667,739$ 3,594,384$ 3,522,496$ 3,452,046$ 3,383,005$ 3,315,345$ 3,249,038$ 3,184,058$ 3,120,376$ 3,057,969$ 2,996,810$ 2,936,873$ 2,936,873$

1,422,215$ 1,202,182$ 678,244$ 441,806$ 203,845$ (35,588)$ (329,244)$ (574,714)$ (821,671)$ (1,070,341)$ (1,324,273)$ (1,579,738)$ (1,579,738)$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 7,111,548 8,059,903 10,162,232 11,364,593 12,567,311 13,750,407 15,124,651 16,293,850 17,458,278 18,637,985 19,805,996 20,944,324 20,944,324

(2,744,529) (2,923,802) (3,476,309) (3,679,183) (3,885,640) (4,095,585) (4,373,457) (4,594,054) (4,818,058) (5,045,712) (5,281,323) (5,520,303) (5,520,303) 4,367,019$ 5,136,101$ 6,685,923$ 7,685,411$ 8,681,671$ 9,654,821$ 10,751,194$ 11,699,797$ 12,640,221$ 13,592,274$ 14,524,673$ 15,424,021$ 15,424,021$

5,789,234$ 6,338,282$ 7,364,167$ 8,127,217$ 8,885,517$ 9,619,233$ 10,421,950$ 11,125,083$ 11,818,550$ 12,521,933$ 13,200,400$ 13,844,283$ 13,844,283$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised



542,154$ 573,234$ 602,617$ 632,000$ 661,383$ 690,767$ 720,150$ 749,533$ 778,916$ 808,300$ 837,683$ 867,066$ 8,463,803$

144,196$ 149,774$ 155,353$ 160,932$ 166,510$ 172,089$ 177,668$ 183,246$ 188,825$ 194,404$ 199,982$ 205,561$ 2,098,539$ 581,054 612,803 1,293,400 650,345 656,671 662,975 785,172 679,577 685,892 692,260 706,492 712,797 8,719,437 725,249$ 762,577$ 1,448,753$ 811,276$ 823,181$ 835,064$ 962,840$ 862,823$ 874,717$ 886,663$ 906,474$ 918,358$ 10,817,976$

(183,095)$ (189,343)$ (846,136)$ (179,276)$ (161,797)$ (144,298)$ (242,690)$ (113,290)$ (95,801)$ (78,363)$ (68,791)$ (51,291)$ (2,354,172)$

-$ -$ (243,251)$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ (880,000)$ (875,000)$ (880,000)$ (875,000)$ (885,000)$ (875,000)$ (960,000)$ (875,000)$ (880,000)$ (905,000)$ (895,000)$ (875,000)$ (10,660,000)$

(44,859) (53,908) (61,054) (77,636) (86,880) (96,138) (105,247) (115,929) (124,947) (133,936) (143,061) (152,100) (1,195,693)$

- - - - - - - - - - - - -

1,107,955$ 1,118,251$ 2,030,441$ 1,131,912$ 1,133,677$ 1,115,435$ 1,307,937$ 1,104,219$ 1,100,747$ 1,117,299$ 1,106,852$ 1,078,391$ 14,453,116$

-$ (243,251)$ -$ -$ -$ -$ -$ -$ -$ -$ -$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME















TOTAL LIABILITIES







MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised






MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002 2002

941,530$ 978,494$ 1,015,457$ 1,052,421$ 1,089,384$ 1,126,348$ 1,163,311$ 1,200,275$ 1,237,238$ 1,274,202$ 1,311,166$ 1,348,129$

211,139$ 216,718$ 222,297$ 227,875$ 233,454$ 239,033$ 244,611$ 250,190$ 255,769$ 261,347$ 266,926$ 272,505$

730,391$ 761,776$ 793,160$ 824,545$ 855,930$ 887,315$ 918,700$ 950,085$ 981,470$ 1,012,855$ 1,044,240$ 1,075,625$

253,340$ 253,340$ 261,462$ 261,462$ 261,462$ 261,462$ 265,392$ 265,392$ 277,967$ 277,967$ 286,090$ 286,090$ 210,746 213,424 416,102 218,779 221,457 224,134 226,812 229,490 232,167 234,845 237,522 240,200

8,100 8,100 8,100 8,100 8,100 8,100 8,100 8,100 8,100 8,100 8,100 8,100 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 34,385 36,208 38,031 39,854 41,677 43,500 45,323 47,146 48,969 50,792 52,615 54,438

165,000 165,000 165,000 165,000 165,000 165,000 165,000 165,000 165,000 165,000 165,000 165,000 111,900

4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 833 833 833 833 833 833 833 833 833 833 833 833

28,000 28,000 28,000 28,000 28,000 28,000 28,000 28,000 28,000 28,000 28,000 28,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000

3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000

5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000

2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 500 500 500 500 500 500 500 500 500 500 500 500

9,415 9,785 10,155 10,524 10,894 11,263 11,633 12,003 12,372 12,742 13,112 13,481 18,831 19,570 20,309 21,048 21,788 22,527 23,266 24,005 24,745 25,484 26,223 26,963 47,077 48,925 50,773 52,621 54,469 56,317 58,166 60,014 61,862 63,710 65,558 67,406

458,347 625 625 625 625 625 625 625 625 625 625 625 625

858,352$ 865,810$ 1,539,737$ 888,848$ 896,305$ 903,763$ 1,027,050$ 922,607$ 942,640$ 950,098$ 965,678$ 973,136$

(127,962)$ (104,034)$ (746,577)$ (64,302)$ (40,375)$ (16,448)$ (108,350)$ 27,478$ 38,830$ 62,757$ 78,562$ 102,489$ (275,083) (289,667) (304,250) (318,833) (333,417) (348,000) (362,583) (377,167) (391,750) (406,333) (420,917) (435,500) (160,907) (170,780) (167,364) (164,017) (160,737) (157,522) (154,371) (151,284) (148,258) (145,293) (142,387) (139,540) 253,778 254,016 548,186 246,219 240,538 234,886 281,387 225,438 225,530 219,991 218,134 212,648

(310,173)$ (310,464)$ (670,005)$ (300,934)$ (293,991)$ (287,083)$ (343,917)$ (275,535)$ (275,648)$ (268,878)$ (266,608)$ (259,903)$















TOTAL LIABILITIES





-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 941,530 978,494 1,015,457 1,052,421 1,089,384 1,126,348 1,163,311 1,200,275 1,237,238 1,274,202 1,311,166 1,348,129

- - - - - - - - - - - - 941,530$ 978,494$ 1,015,457$ 1,052,421$ 1,089,384$ 1,126,348$ 1,163,311$ 1,200,275$ 1,237,238$ 1,274,202$ 1,311,166$ 1,348,129$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

16,505,000$ 17,380,000$ 18,255,000$ 19,130,000$ 20,005,000$ 20,880,000$ 21,755,000$ 22,630,000$ 23,505,000$ 24,380,000$ 25,255,000$ 26,130,000$ 2,957,250 3,246,917 3,551,167 3,870,000 4,203,417 4,551,417 4,914,000 5,291,167 5,682,917 6,089,250 6,510,167 6,945,667

13,547,750$ 14,133,083$ 14,703,833$ 15,260,000$ 15,801,583$ 16,328,583$ 16,841,000$ 17,338,833$ 17,822,083$ 18,290,750$ 18,744,833$ 19,184,333$

14,489,280$ 15,111,577$ 15,719,290$ 16,312,421$ 16,890,968$ 17,454,931$ 18,004,311$ 18,539,108$ 19,059,322$ 19,564,952$ 20,055,999$ 20,532,462$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ (4,770,390) (5,024,406) (5,572,592) (5,818,811) (6,059,348) (6,294,235) (6,575,621) (6,801,059) (7,026,590) (7,246,581) (7,464,715) (7,677,363) (4,770,390)$ (5,024,406)$ (5,572,592)$ (5,818,811)$ (6,059,348)$ (6,294,235)$ (6,575,621)$ (6,801,059)$ (7,026,590)$ (7,246,581)$ (7,464,715)$ (7,677,363)$

2,878,136 2,820,573 2,764,162 2,708,878 2,654,701 2,601,607 2,549,575 2,498,583 2,448,612 2,399,639 2,351,647 2,304,614 - - - - - - - - - - - -

2,878,136$ 2,820,573$ 2,764,162$ 2,708,878$ 2,654,701$ 2,601,607$ 2,549,575$ 2,498,583$ 2,448,612$ 2,399,639$ 2,351,647$ 2,304,614$

(1,892,254)$ (2,203,833)$ (2,808,430)$ (3,109,932)$ (3,404,647)$ (3,692,628)$ (4,026,047)$ (4,302,476)$ (4,577,978)$ (4,846,942)$ (5,113,069)$ (5,372,749)$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 22,212,010 23,456,350 25,338,666 26,534,232 27,701,485 28,840,512 30,067,229 31,153,990 32,225,354 33,268,826 34,292,608 35,288,656 (5,830,476) (6,140,941) (6,810,946) (7,111,880) (7,405,870) (7,692,953) (8,036,871) (8,312,406) (8,588,054) (8,856,933) (9,123,541) (9,383,444) 16,381,534$ 17,315,410$ 18,527,721$ 19,422,353$ 20,295,615$ 21,147,559$ 22,030,358$ 22,841,584$ 23,637,300$ 24,411,894$ 25,169,068$ 25,905,212$

14,489,280$ 15,111,577$ 15,719,290$ 16,312,421$ 16,890,968$ 17,454,931$ 18,004,311$ 18,539,108$ 19,059,322$ 19,564,952$ 20,055,999$ 20,532,462$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised



896,450$ 941,530$ 978,494$ 1,015,457$ 1,052,421$ 1,089,384$ 1,126,348$ 1,163,311$ 1,200,275$ 1,237,238$ 1,274,202$ 1,311,166$

211,139$ 216,718$ 222,297$ 227,875$ 233,454$ 239,033$ 244,611$ 250,190$ 255,769$ 261,347$ 266,926$ 272,505$ 858,352 865,810 1,539,737 888,848 896,305 903,763 1,027,050 922,607 942,640 950,098 965,678 973,136

1,069,492$ 1,082,528$ 1,762,034$ 1,116,723$ 1,129,759$ 1,142,795$ 1,271,661$ 1,172,797$ 1,198,409$ 1,211,445$ 1,232,604$ 1,245,640$

(173,042)$ (140,998)$ (783,540)$ (101,266)$ (77,339)$ (53,411)$ (145,313)$ (9,486)$ 1,866$ 25,793$ 41,598$ 65,525$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

(875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (160,907) (170,780) (167,364) (164,017) (160,737) (157,522) (154,371) (151,284) (148,258) (145,293) (142,387) (139,540)

- - - - - - - - - - - -

1,208,949$ 1,186,778$ 1,825,905$ 1,140,283$ 1,113,075$ 1,085,933$ 1,174,685$ 1,035,770$ 1,021,392$ 994,500$ 975,789$ 949,014$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

Y/E DEC2002

13,737,955$

2,901,864$

10,836,091$

3,211,424$ 2,905,678

97,200 372,000 532,938

1,980,000 111,900

54,000 10,000

336,000 132,000

36,000 180,000

60,000 120,000

24,000 6,000

137,380 274,759 686,898 458,347

7,500 11,734,024$

(897,933)$ (4,263,500) (1,862,460) 3,160,752

(3,863,141)$















TOTAL LIABILITIES




Y/E DEC2002

-$ 1,348,129

- 1,348,129$

-$

26,130,000$ 6,945,667

19,184,333$

20,532,462$

-$ (7,677,363) (7,677,363)$

2,304,614 -

2,304,614$

(5,372,749)$

-$ 49,000,728 (9,383,444) 25,905,212$

20,532,462$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised


Y/E DEC2002

13,286,276$

2,901,864$ 11,734,024 14,635,888$

(1,349,612)$

-$

-$ (10,500,000)$

(1,862,460)$

-

13,712,072$

-$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME


1,385,358$ 1,422,385$ 1,459,411$ 1,496,438$ 1,533,465$ 1,570,492$ 1,607,518$ 1,644,545$ 1,681,572$ 1,718,599$ 1,755,625$ 1,792,652$

278,373$ 284,158$ 289,944$ 295,729$ 301,514$ 307,300$ 313,085$ 318,870$ 324,655$ 330,441$ 336,226$ 342,011$

1,106,985$ 1,138,226$ 1,169,468$ 1,200,709$ 1,231,951$ 1,263,192$ 1,294,434$ 1,325,675$ 1,356,917$ 1,388,158$ 1,419,399$ 1,450,641$

298,719$ 298,719$ 307,086$ 307,086$ 307,086$ 307,086$ 311,133$ 311,133$ 314,373$ 314,373$ 322,740$ 322,740$ 242,892 245,584 448,277 250,969 253,661 256,353 259,045 261,738 264,430 267,122 269,814 272,506

7,290 7,290 7,290 7,290 7,290 7,290 7,290 7,290 7,290 7,290 7,290 7,290 36,000 36,000 36,000 36,000 36,000 36,000 36,000 36,000 36,000 36,000 36,000 36,000 56,260 58,083 59,906 61,729 63,552 65,375 67,198 69,021 70,844 72,667 74,490 76,313

255,000 255,000 255,000 255,000 255,000 255,000 255,000 255,000 255,000 255,000 255,000 255,000 111,900

6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 833 833 833 833 833 833 833 833 833 833 833 833

40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000

3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000

5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000

2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 500 500 500 500 500 500 500 500 500 500 500 500

13,854 14,224 14,594 14,964 15,335 15,705 16,075 16,445 16,816 17,186 17,556 17,927 27,707 28,448 29,188 29,929 30,669 31,410 32,150 32,891 33,631 34,372 35,113 35,853 69,268 71,119 72,971 74,822 76,673 78,525 80,376 82,227 84,079 85,930 87,781 89,633

467,514 625 625 625 625 625 625 625 625 625 625 625 625

1,110,449$ 1,117,926$ 1,801,284$ 1,141,247$ 1,148,724$ 1,156,201$ 1,279,626$ 1,175,203$ 1,185,921$ 1,193,398$ 1,209,242$ 1,216,719$

(3,464)$ 20,300$ (631,816)$ 59,462$ 83,226$ 106,991$ 14,808$ 150,472$ 170,996$ 194,760$ 210,158$ 233,922$ (450,083) (464,667) (479,250) (493,833) (508,417) (523,000) (537,583) (552,167) (566,750) (581,333) (595,917) (610,500) (136,749) (145,344) (142,437) (139,588) (136,796) (134,060) (131,379) (128,752) (126,177) (123,653) (121,180) (118,756) 265,633 265,370 564,076 258,282 252,894 247,531 294,370 238,701 234,869 229,602 228,122 222,900

(324,663)$ (324,341)$ (689,427)$ (315,678)$ (309,093)$ (302,538)$ (359,785)$ (291,745)$ (287,062)$ (280,625)$ (278,816)$ (272,434)$















TOTAL LIABILITIES





-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,385,358 1,422,385 1,459,411 1,496,438 1,533,465 1,570,492 1,607,518 1,644,545 1,681,572 1,718,599 1,755,625 1,792,652

- - - - - - - - - - - - 1,385,358$ 1,422,385$ 1,459,411$ 1,496,438$ 1,533,465$ 1,570,492$ 1,607,518$ 1,644,545$ 1,681,572$ 1,718,599$ 1,755,625$ 1,792,652$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

27,005,000$ 27,880,000$ 28,755,000$ 29,630,000$ 30,505,000$ 31,380,000$ 32,255,000$ 33,130,000$ 34,005,000$ 34,880,000$ 35,755,000$ 36,630,000$ 7,395,750 7,860,417 8,339,667 8,833,500 9,341,917 9,864,917 10,402,500 10,954,667 11,521,417 12,102,750 12,698,667 13,309,167

19,609,250$ 20,019,583$ 20,415,333$ 20,796,500$ 21,163,083$ 21,515,083$ 21,852,500$ 22,175,333$ 22,483,583$ 22,777,250$ 23,056,333$ 23,320,833$

20,994,608$ 21,441,968$ 21,874,745$ 22,292,938$ 22,696,548$ 23,085,575$ 23,460,018$ 23,819,878$ 24,165,155$ 24,495,849$ 24,811,959$ 25,113,485$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ (7,942,996) (8,208,366) (8,772,442) (9,030,724) (9,283,618) (9,531,149) (9,825,519) (10,064,220) (10,299,089) (10,528,691) (10,756,813) (10,979,714) (7,942,996)$ (8,208,366)$ (8,772,442)$ (9,030,724)$ (9,283,618)$ (9,531,149)$ (9,825,519)$ (10,064,220)$ (10,299,089)$ (10,528,691)$ (10,756,813)$ (10,979,714)$

2,258,521 2,213,351 2,169,084 2,125,702 2,083,188 2,041,524 2,000,694 1,960,680 1,921,466 1,883,037 1,845,376 1,808,469 - - - - - - - - - - - -

2,258,521$ 2,213,351$ 2,169,084$ 2,125,702$ 2,083,188$ 2,041,524$ 2,000,694$ 1,960,680$ 1,921,466$ 1,883,037$ 1,845,376$ 1,808,469$

(5,684,475)$ (5,995,015)$ (6,603,358)$ (6,905,022)$ (7,200,430)$ (7,489,625)$ (7,824,825)$ (8,103,540)$ (8,377,622)$ (8,645,654)$ (8,911,437)$ (9,171,245)$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 36,387,190 37,469,431 39,199,977 40,235,512 41,243,622 42,224,382 43,293,811 44,224,131 45,130,553 46,009,902 46,870,611 47,704,380 (9,708,107) (10,032,447) (10,721,874) (11,037,552) (11,346,644) (11,649,183) (12,008,968) (12,300,713) (12,587,775) (12,868,400) (13,147,216) (13,419,650) 26,679,083$ 27,436,983$ 28,478,103$ 29,197,960$ 29,896,978$ 30,575,200$ 31,284,843$ 31,923,418$ 32,542,777$ 33,141,502$ 33,723,395$ 34,284,730$

20,994,608$ 21,441,968$ 21,874,745$ 22,292,938$ 22,696,548$ 23,085,575$ 23,460,018$ 23,819,878$ 24,165,155$ 24,495,849$ 24,811,959$ 25,113,485$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised



1,348,129$ 1,385,358$ 1,422,385$ 1,459,411$ 1,496,438$ 1,533,465$ 1,570,492$ 1,607,518$ 1,644,545$ 1,681,572$ 1,718,599$ 1,755,625$

278,373$ 284,158$ 289,944$ 295,729$ 301,514$ 307,300$ 313,085$ 318,870$ 324,655$ 330,441$ 336,226$ 342,011$ 1,110,449 1,117,926 1,801,284 1,141,247 1,148,724 1,156,201 1,279,626 1,175,203 1,185,921 1,193,398 1,209,242 1,216,719 1,388,822$ 1,402,085$ 2,091,228$ 1,436,976$ 1,450,239$ 1,463,501$ 1,592,711$ 1,494,073$ 1,510,576$ 1,523,839$ 1,545,468$ 1,558,730$

(40,693)$ (16,727)$ (668,843)$ 22,435$ 46,200$ 69,964$ (22,219)$ 113,445$ 133,969$ 157,733$ 173,131$ 196,895$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

(875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (136,749) (145,344) (142,437) (139,588) (136,796) (134,060) (131,379) (128,752) (126,177) (123,653) (121,180) (118,756)

- - - - - - - - - - - -

1,052,442$ 1,037,070$ 1,686,280$ 992,153$ 965,597$ 939,096$ 1,028,598$ 890,306$ 867,208$ 840,920$ 823,049$ 796,861$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

Y/E DEC2003

19,068,060$

3,722,306$

15,345,754$

3,722,273$ 3,292,391

87,480 432,000 795,438

3,060,000 111,900

78,000 10,000

480,000 180,000

36,000 240,000

60,000 120,000

24,000 6,000

190,681 381,361 953,403 467,514

7,500 14,735,940$

609,814$ (6,363,500) (1,584,871) 3,302,351

(4,036,206)$















TOTAL LIABILITIES




Y/E DEC2003

-$ 1,792,652

- 1,792,652$

-$

36,630,000$ 13,309,167 23,320,833$

25,113,485$

-$ (10,979,714) (10,979,714)$

1,808,469 -

1,808,469$

(9,171,245)$

-$ 47,704,380

(13,419,650) 34,284,730$

25,113,485$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised


Y/E DEC2003

18,623,537$

3,722,306$ 14,735,940 18,458,246$

165,291$

-$

(10,500,000)$ (1,584,871)$

-

11,919,580$

-$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME


1,829,633$ 1,866,817$ 1,904,000$ 1,941,183$ 1,978,367$ 2,015,550$ 2,052,733$ 2,089,917$ 2,127,100$ 2,164,283$ 2,201,467$ 2,238,650$

347,506$ 353,085$ 358,664$ 364,242$ 369,821$ 375,400$ 380,978$ 386,557$ 392,136$ 397,714$ 403,293$ 408,872$

1,482,127$ 1,513,732$ 1,545,336$ 1,576,941$ 1,608,546$ 1,640,150$ 1,671,755$ 1,703,360$ 1,734,964$ 1,766,569$ 1,798,174$ 1,829,778$

336,590$ 336,590$ 345,208$ 345,208$ 345,208$ 345,208$ 349,376$ 349,376$ 352,714$ 352,714$ 361,331$ 361,331$ 275,224 277,942 480,659 283,377 286,095 288,813 291,530 294,248 296,966 299,683 302,401 305,119

6,561 6,561 6,561 6,561 6,561 6,561 6,561 6,561 6,561 6,561 6,561 6,561 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 78,135 79,958 81,781 83,604 85,427 87,250 89,073 90,896 92,719 94,542 96,365 98,188

345,000 345,000 345,000 345,000 345,000 345,000 345,000 345,000 345,000 345,000 345,000 345,000 111,900

11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 833 833 833 833 833 833 833 833 833 833 833 833

52,000 52,000 52,000 52,000 52,000 52,000 52,000 52,000 52,000 52,000 52,000 52,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000

3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000

5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000

2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 500 500 500 500 500 500 500 500 500 500 500 500

18,296 18,668 19,040 19,412 19,784 20,155 20,527 20,899 21,271 21,643 22,015 22,386 36,593 37,336 38,080 38,824 39,567 40,311 41,055 41,798 42,542 43,286 44,029 44,773 91,482 93,341 95,200 97,059 98,918 100,777 102,637 104,496 106,355 108,214 110,073 111,932

476,864 625 625 625 625 625 625 625 625 625 625 625 625

1,346,840$ 1,365,855$ 2,058,852$ 1,389,503$ 1,397,018$ 1,404,533$ 1,528,117$ 1,423,733$ 1,434,586$ 1,442,101$ 1,458,234$ 1,465,749$

135,287$ 147,876$ (513,516)$ 187,438$ 211,527$ 235,617$ 143,638$ 279,627$ 300,379$ 324,468$ 339,940$ 364,029$ (625,083) (639,667) (654,250) (668,833) (683,417) (698,000) (712,583) (727,167) (741,750) (756,333) (770,917) (785,500) (116,381) (121,347) (118,920) (116,542) (114,211) (111,927) (109,688) (107,494) (105,344) (103,238) (101,173) (99,149) 272,780 275,912 579,009 269,072 263,745 258,439 305,385 249,765 246,022 240,796 239,467 234,279

(333,398)$ (337,226)$ (707,677)$ (328,865)$ (322,355)$ (315,870)$ (373,249)$ (305,269)$ (300,694)$ (294,307)$ (292,682)$ (286,341)$















TOTAL LIABILITIES





-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,829,633 1,866,817 1,904,000 1,941,183 1,978,367 2,015,550 2,052,733 2,089,917 2,127,100 2,164,283 2,201,467 2,238,650

- - - - - - - - - - - - 1,829,633$ 1,866,817$ 1,904,000$ 1,941,183$ 1,978,367$ 2,015,550$ 2,052,733$ 2,089,917$ 2,127,100$ 2,164,283$ 2,201,467$ 2,238,650$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

37,505,000$ 38,380,000$ 39,255,000$ 40,130,000$ 41,005,000$ 41,880,000$ 42,755,000$ 43,630,000$ 44,505,000$ 45,380,000$ 46,255,000$ 47,130,000$ 13,934,250 14,573,917 15,228,167 15,897,000 16,580,417 17,278,417 17,991,000 18,718,167 19,459,917 20,216,250 20,987,167 21,772,667 23,570,750$ 23,806,083$ 24,026,833$ 24,233,000$ 24,424,583$ 24,601,583$ 24,764,000$ 24,911,833$ 25,045,083$ 25,163,750$ 25,267,833$ 25,357,333$

25,400,383$ 25,672,900$ 25,930,833$ 26,174,183$ 26,402,950$ 26,617,133$ 26,816,733$ 27,001,750$ 27,172,183$ 27,328,033$ 27,469,300$ 27,595,983$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ (11,252,493) (11,528,405) (12,107,414) (12,376,486) (12,640,231) (12,898,670) (13,204,055) (13,453,821) (13,699,843) (13,940,639) (14,180,107) (14,414,385) (11,252,493)$ (11,528,405)$ (12,107,414)$ (12,376,486)$ (12,640,231)$ (12,898,670)$ (13,204,055)$ (13,453,821)$ (13,699,843)$ (13,940,639)$ (14,180,107)$ (14,414,385)$

1,772,299 1,736,853 1,702,116 1,668,074 1,634,713 1,602,018 1,569,978 1,538,578 1,507,807 1,477,651 1,448,098 1,419,136 - - - - - - - - - - - -

1,772,299$ 1,736,853$ 1,702,116$ 1,668,074$ 1,634,713$ 1,602,018$ 1,569,978$ 1,538,578$ 1,507,807$ 1,477,651$ 1,448,098$ 1,419,136$

(9,480,194)$ (9,791,552)$ (10,405,298)$ (10,708,412)$ (11,005,518)$ (11,296,652)$ (11,634,077)$ (11,915,242)$ (12,192,036)$ (12,462,989)$ (12,732,009)$ (12,995,250)$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 48,633,625 49,554,725 51,134,081 52,009,411 52,857,639 53,678,826 54,589,101 55,360,551 56,108,472 56,829,581 57,532,550 58,208,815

(13,753,048) (14,090,273) (14,797,950) (15,126,816) (15,449,171) (15,765,041) (16,138,290) (16,443,559) (16,744,253) (17,038,559) (17,331,241) (17,617,582) 34,880,577$ 35,464,452$ 36,336,131$ 36,882,595$ 37,408,468$ 37,913,785$ 38,450,811$ 38,916,992$ 39,364,219$ 39,791,022$ 40,201,309$ 40,591,233$

25,400,383$ 25,672,900$ 25,930,833$ 26,174,183$ 26,402,950$ 26,617,133$ 26,816,733$ 27,001,750$ 27,172,183$ 27,328,033$ 27,469,300$ 27,595,983$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised



1,792,652$ 1,829,633$ 1,866,817$ 1,904,000$ 1,941,183$ 1,978,367$ 2,015,550$ 2,052,733$ 2,089,917$ 2,127,100$ 2,164,283$ 2,201,467$

347,506$ 353,085$ 358,664$ 364,242$ 369,821$ 375,400$ 380,978$ 386,557$ 392,136$ 397,714$ 403,293$ 408,872$ 1,346,840 1,365,855 2,058,852 1,389,503 1,397,018 1,404,533 1,528,117 1,423,733 1,434,586 1,442,101 1,458,234 1,465,749 1,694,346$ 1,718,940$ 2,417,516$ 1,753,745$ 1,766,839$ 1,779,933$ 1,909,096$ 1,810,290$ 1,826,721$ 1,839,815$ 1,861,526$ 1,874,620$

98,306$ 110,693$ (550,699)$ 150,255$ 174,344$ 198,433$ 106,454$ 242,444$ 263,195$ 287,285$ 302,757$ 326,846$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

(875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (875,000)$ (116,381) (121,347) (118,920) (116,542) (114,211) (111,927) (109,688) (107,494) (105,344) (103,238) (101,173) (99,149)

- - - - - - - - - - - -

893,075$ 885,654$ 1,544,619$ 841,287$ 814,867$ 788,493$ 878,234$ 740,051$ 717,149$ 690,953$ 673,416$ 647,303$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

Y/E DEC2004

24,409,699$

4,538,268$

19,871,431$

4,180,854$ 3,682,056

78,732 492,000

1,057,938 4,140,000

111,900 126,500

10,000 624,000 228,000

36,000 300,000

60,000 120,000

24,000 6,000

244,097 488,194

1,220,485 476,864

7,500 17,715,120$

2,156,310$ (8,463,500) (1,325,415) 3,434,672

(4,197,932)$















TOTAL LIABILITIES




Y/E DEC2004

-$ 2,238,650

- 2,238,650$

-$

47,130,000$ 21,772,667 25,357,333$

27,595,983$

-$ (14,414,385) (14,414,385)$

1,419,136 -

1,419,136$

(12,995,250)$

-$ 58,208,815

(17,617,582) 40,591,233$

27,595,983$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised


Y/E DEC2004

23,963,701$

4,538,268$ 17,715,120 22,253,389$

1,710,313$

-$

(10,500,000)$ (1,325,415)$

-

10,115,102$

-$





MonthYear

TOTAL REVENUE


GROSS PROFIT




NET INCOME

Y/E DEC Y/E DEC Y/E DEC Y/E DEC Y/E DEC2000 2001 2002 2003 2004

3,728,720$ 8,818,099$ 13,737,955$ 19,068,060$ 24,409,699$

941,386$ 2,098,539$ 2,901,864$ 3,722,306$ 4,538,268$

2,787,335$ 6,719,560$ 10,836,091$ 15,345,754$ 19,871,431$

1,767,600$ 2,618,858$ 3,211,424$ 3,722,273$ 4,180,854$ 2,562,459 2,556,163 2,905,678 3,292,391 3,682,056

120,000 108,000 97,200 87,480 78,732 252,000 312,000 372,000 432,000 492,000

67,063 268,208 532,938 795,438 1,057,938 180,000 900,000 1,980,000 3,060,000 4,140,000

37,300 111,900 111,900 111,900 111,900 9,000 30,000 54,000 78,000 126,500

10,000 10,000 10,000 10,000 10,000 48,000 192,000 336,000 480,000 624,000 36,000 84,000 132,000 180,000 228,000 36,000 36,000 36,000 36,000 36,000 60,000 120,000 180,000 240,000 300,000 60,000 60,000 60,000 60,000 60,000

120,000 120,000 120,000 120,000 120,000 24,000 24,000 24,000 24,000 24,000

6,000 6,000 6,000 6,000 6,000 37,287 88,181 137,380 190,681 244,097 74,574 176,362 274,759 381,361 488,194

186,436 440,905 686,898 953,403 1,220,485 440,549 449,360 458,347 467,514 476,864

7,500 7,500 7,500 7,500 7,500 6,141,769$ 8,719,437$ 11,734,024$ 14,735,940$ 17,715,120$

(3,354,434)$ (1,999,877)$ (897,933)$ 609,814$ 2,156,310$ (536,500) (2,145,667) (4,263,500) (6,363,500) (8,463,500) (358,970) (1,195,693) (1,862,460) (1,584,871) (1,325,415)

1,912,457 2,403,556 3,160,752 3,302,351 3,434,672 (2,337,447)$ (2,937,680)$ (3,863,141)$ (4,036,206)$ (4,197,932)$















TOTAL LIABILITIES





-$ -$ -$ -$ -$ 542,154 896,450 1,348,129 1,792,652 2,238,650

- - - - - 542,154$ 896,450$ 1,348,129$ 1,792,652$ 2,238,650$

-$ -$ -$ -$ -$

4,970,000$ 15,630,000$ 26,130,000$ 36,630,000$ 47,130,000$ 536,500 2,682,167 6,945,667 13,309,167 21,772,667

4,433,500$ 12,947,833$ 19,184,333$ 23,320,833$ 25,357,333$

4,975,654$ 13,844,283$ 20,532,462$ 25,113,485$ 27,595,983$

-$ -$ -$ -$ -$ (2,113,055) (4,516,611) (7,677,363) (10,979,714) (14,414,385) (2,113,055)$ (4,516,611)$ (7,677,363)$ (10,979,714)$ (14,414,385)$

3,742,590 2,936,873 2,304,614 1,808,469 1,419,136 - - - - -

3,742,590$ 2,936,873$ 2,304,614$ 1,808,469$ 1,419,136$

1,629,535$ (1,579,738)$ (5,372,749)$ (9,171,245)$ (12,995,250)$

-$ -$ -$ -$ 5,928,742 20,944,324 49,000,728 47,704,380 58,208,815

(2,582,623) (5,520,303) (9,383,444) (13,419,650) (17,617,582) 3,346,119$ 15,424,021$ 25,905,212$ 34,284,730$ 40,591,233$

-$ 4,975,654$ 13,844,283$ 20,532,462$ 25,113,485$ 27,595,983$




MonthYear

Receipts


Total Disbursements




Income Tax Payments

Capital Raised



3,186,566$ 8,463,803$ 13,286,276$ 18,623,537$ 23,963,701$

- - - - 941,386$ 2,098,539$ 2,901,864$ 3,722,306$ 4,538,268$

6,141,769 8,719,437 11,734,024 14,735,940 17,715,120 7,083,154$ 10,817,976$ 14,635,888$ 18,458,246$ 22,253,389$

- - - - (3,896,588)$ (2,354,172)$ (1,349,612)$ 165,291$ 1,710,313$

-$ -$ -$ -$ -$

(4,970,000)$ -$ -$ -$ (10,500,000)$

(358,970)$ (1,195,693)$ (1,862,460)$ (1,584,871)$ (1,325,415)$

- - - - -

9,225,558$ 14,453,116$ 13,712,072$ 11,919,580$ 10,115,102$

-$ -$ -$ -$ -$

Documents

Saskatchewan projections revised · 2011. 2. 4. · ORBIT CANADA INC. SASKATCHEWAN PRO FORMA FINANCIAL PROJECTIONS Saskatchewan projections revised Orbit Canada Inc. Pro Forma Income