Emperor - Financial Model - 5 8 15 1

Summary
For the Year Ending

FY1
FY2
FY3
FY4
FY5
Total Revenues
$248,268
$581,119
$894,567
$1,134,527
$1,347,245
Total Direct Cost

Gross profit
Gross Profit Margin (%)
($62,067)
$186,201
75%
($145,280)
$435,839
75%
($223,642)
$670,925
75%
($226,905)
$907,622
80%
($269,449)
$1,077,796
80%
($218,063)
($31,862)
($50,000)
($306,018)
$129,822
($50,000)
($519,832)
$151,093
($50,000)
($650,981)
$256,641
($50,000)
($736,296)
$341,500
($50,000)
$0
($81,862)
($74,468)
$0
$0
$0
$79,822
($64,926)
$0
$0
$0
$101,093
($54,677)
$0
$0
$0
$206,641
($43,742)
$0
$0
$0
$291,500
($32,075)
$0
$0
$0
($156,330)
$0
$14,896
$0
$46,416
$0
$162,898
$0
$259,425
$0
$0
$0
($23,758)
($90,799)
($156,330)
-63%
$14,896
3%
$46,416
5%
$139,141
12%
$168,626
13%
Total Other Expenses

EBITDA
Depreciation
Amortization & Impairment
EBIT
Interest Expense-Debt
Interest Expense-Leased Assets
Interest Income
Other Income (Expenses)
Pretax Income
Income Tax Expense
Net Income
Net profit (%)
EBITDA, Net Income, and Net Profit (%)

$1,600,000
20%
$1,400,000
10%
$1,200,000
0%
$1,000,000
-10%
$800,000
-20%
$600,000
-30%
$400,000
-40%
$200,000
$0
($200,000)
($400,000)
-50%
FY1
FY2
FY3
FY4
FY5
-60%
-70%
fit (%)
20%
10%
0%
-10%
-20%
-30%
-40%
-50%
FY5
-60%
-70%
Revenue Assumptions
Total Units Sold
Year 1
Year 2
Year 3
Year 4
Year 5
Monthly Growth
7.50%
6.00%
2.00%
2.00%
1.00%
Wholesale Distribution
Total Units Sold via Wholesale Distribution Channels
Year 1
Year 2
Year 3
Year 4
Year 5
Total Wholesale Revenue

Year 1
Year 2
Year 3
Year 4
Year 5
% of Total Units
Sold
70%
70%
70%
70%
70%
Average Price per
Unit
$
400.00
$
400.00
$
400.00
$
400.00
$
400.00
Retail
% of Total
Contracts
30%
30%
30%
30%
30%
Total Units Sold via Retail Channel

Year 1
Year 2
Year 3
Year 4
Year 5
Total Retail & Ecommerce Revenue

Year 1
Year 2
Year 3
Year 4
Year 5
$
$
$
$
$
$ Hourly Rate
950.00
950.00
950.00
950.00
950.00
Direct Cost
Year 1
Year 2
Year 3
Year 4
Year 5
Direct Cost (% of
Revenue)
25%
25%
25%
20%
20%
M1
M2
M3
M4
M5
M6
M7
M8
M9
5
61
118
150
188
10
65
120
153
190
30
69
123
156
192
32
73
125
159
194
35
77
128
162
196
37
82
130
165
198
40
86
133
169
200
43
92
136
172
202
46
97
138
175
204
7
45
84
107
133
21
48
86
109
134
23
51
88
111
136
24
54
89
113
137
26
57
91
116
138
28
61
93
118
140
30
64
95
120
141
32
68
97
123
143
Total Units Sold
Units via Wholesale Channels

4
43
83
105
132
Monthly Revenue
$
1,400
$
17,071
$
33,054
$
41,921
$
52,644
$
$
$
$
$
Units via Retail Store

2
18
35
45
56
Monthly Revenue
$
1,425
$
17,376
$
33,644
$
42,669
$
53,584
$706
$8,612
$16,675
$16,918
$21,246
2,800
18,095
33,715
42,759
53,171
$
$
$
$
$
3
19
36
46
57
$
$
$
$
$
2,850
18,418
34,317
43,523
54,120
$1,413
$9,128
$17,008
$17,256
$21,458
8,400
19,181
34,390
43,614
53,702
$
$
$
$
$
9
21
37
47
58
$
$
$
$
$
8,550
19,524
35,004
44,393
54,661
$4,238
$9,676
$17,348
$17,601
$21,673
9,030
20,332
35,077
44,487
54,239
$
$
$
$
$
10
22
38
48
58
$
$
$
$
$
9,191
20,695
35,704
45,281
55,208
$4,555
$10,257
$17,695
$17,953
$21,890
9,707
21,552
35,779
45,376
54,782
$
$
$
$
$
10
23
38
49
59
$
$
$
$
$
9,881
21,937
36,418
46,187
55,760
$4,897
$10,872
$18,049
$18,313
$22,108
10,435
22,845
36,494
46,284
55,330
$
$
$
$
$
11
24
39
50
59
$
$
$
$
$
10,622
23,253
37,146
47,110
56,318
$5,264
$11,524
$18,410
$18,679
$22,329
11,218
24,216
37,224
47,209
55,883
$
$
$
$
$
12
26
40
51
60
$
$
$
$
$
11,418
24,648
37,889
48,052
56,881
$5,659
$12,216
$18,778
$19,052
$22,553
12,059 $
25,669 $
37,969 $
48,154 $
56,442 $
13
28
41
52
60
$
$
$
$
$
12,275
26,127
38,647
49,014
57,450
$6,083
$12,949
$19,154
$19,433
$22,778
12,964
27,209
38,728
49,117
57,006
14
29
41
53
61
$
$
$
$
$
13,195
27,695
39,420
49,994
58,024
$6,540
$13,726
$19,537
$19,822
$23,006
M10
M11
50
103
141
179
206
54
109
144
183
208
35
72
99
125
144
$
$
$
$
$
13,936
28,841
39,503
50,099
57,576
37
76
101
128
145
$
$
$
$
$
15
31
42
54
62
$
$
$
$
$
14,185
29,356
40,208
50,994
58,604
$7,030
$14,549
$19,928
$20,219
$23,236
M12
14,981
30,572
40,293
51,101
58,152
$
$
$
$
$
16
33
43
55
62
$
$
$
$
$
15,249
31,118
41,012
52,014
59,190
$7,557
$15,422
$20,326
$20,623
$23,469
$
$
$
$
$
Annual
58
116
147
186
210
Annual
Average Monthly
439
37
1,029
86
1,583
132
2,008
167
2,385
199
40
81
103
130
147
Annual
Average Monthly
308
26
720
60
1,108
92
1,406
117
1,669
139
16,105
32,406
41,099
52,123
58,734
$
$
$
$
$
Annual
123,036
287,988
443,325
562,244
667,661
Average Monthly
$
10,253
$
23,999
$
36,944
$
46,854
$
55,638
17
35
44
56
63
Annual
Average Monthly
132
11
309
26
475
40
602
50
715
60
16,392
32,985
41,833
53,054
59,782
Annual
Average Monthly
125,233
10,436
293,131
24,428
451,242
37,603
572,284
47,690
679,584
56,632
$8,124
$16,348
$20,733
$21,035
$23,703
$
$
$
$
$
$62,067
$145,280
$223,642
$226,905
$269,449
Average
Weekly
Average
Daily
9
21
33
42
50
Average
Weekly
1
3
4
5
7
Average
Daily
6
15
23
29
35
1
2
3
4
5
Average
Weekly
$
2,563
$
6,000
$
9,236
$
11,713
$
13,910
Average
Daily
$
336
$
787
$
1,211
$
1,536
$
1,824
Average
Weekly
Average
Daily
3
6
10
13
15
0
1
1
2
2
Average
Weekly
2,609
6,107
9,401
11,923
14,158
Average
Daily
342
801
1,233
1,564
1,857
Assumptions
General & Administrative Expenses
Rent
Year 1
Year 2
Year 3
Year 4
Year 5
M1
M2
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
Growth(y-o-y)
15%
15%
15%
15%
Utilities
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Public Relations/Marketing
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Insurance
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Repairs and Maintenance

Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Materials
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Telephone
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Travel
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Website Hosting
Year 1
Year 2
Year 3
Year 4
Year 5
Growth(y-o-y)
Office/SG&A
Growth(y-o-y)
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
15%
0%
0%
0%
0%
15%
15%
15%
15%
Year 1
Year 2
Year 3
Year 4
Year 5
Miscellaneous
Year 1
Year 2
Year 3
Year 4
Year 5
Total Non-Personnel General & Administrative
Year 1
Year 2
Year 3
Year 4
Year 5
15%
15%
15%
15%
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
Growth(y-o-y)
15%
15%
15%
15%
Tax Rate
Balance Sheet Assumptions

Current Liabilities Turnover (number of days)
Current Assets Excluding Cash (number of days)
Prepaid Expenses (% of Sales)
Days in Inventory
Other Current Assets (% of sales)
Accrued Expenses (number of days)
Other Current Liabilities (% of sales)
35%
30 days
3 days
2% of Net Sales
0 days
2% of Net sales
30 days
2% of Net Sales
Capex Assumptions
Tangible Assets
Fixed Asset
Depreciation Rate
$500,000
10%
Capex
Q1
$500,000
$0
$0
$0
$0
FY1
FY2
FY3
FY4
FY5
Capital Requirement
Capital Requirements
Equity Investment
Debt Investment
Q2
$0
$0
$0
$0
$0
Q3
$0
$0
$0
$0
$0
FY 1
$1,500,000
20%
80%
$300,000
$1,200,000
Debt
New Loan Amount

Interest Rate
Months Remaining
Interest Payment
Total Payment
Principal Payment
Period
Current Portion
Long-Term Portion
$1,200,000
7%
84
Month 1
Month 2
$1,200,000
$1,188,337
-$6,500
-$17,989
-$11,489
1
$144,201
$1,055,799
-$6,500
-$18,163
-$11,663
2
$144,982
$1,043,355
M3
M4
M5
M6
M7
M8
M9
M10
M11
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$3,500
$4,025
$4,629
$5,323
$6,122
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$120
$138
$159
$183
$210
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$150
$173
$198
$228
$262
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$1,500
$1,725
$1,984
$2,281
$2,624
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$50
$58
$66
$76
$87
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$500
$575
$661
$760
$875
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
$10,370
$11,926
$13,714
$15,771
$18,137
Administrative
35%
30
3
2%
0
2%
30
2%
$500,000
10%
Capex
FY1
FY2
FY3
FY4
FY5
Q4
$0
$0
$0
$0
$0
FY 1
$1,500,000
20%
80%
Month 3
$1,200,000
7%
84
Month 4
Month 5
Year 1
Month 6
### $1,164,821 $1,152,968 $1,141,050
-$6,437
-$6,373
-$6,309
-$18,163
-$18,163
-$18,163
-$11,726
-$11,790
-$11,853
3
4
5
$145,767
$146,557
$147,350
### $1,018,265 $1,005,618
-$6,245
-$18,163
-$11,918
6
$148,149
$992,902
Month 7
Month 8
Month 9
Month 10
Month 11
$1,129,068 $1,117,021 $1,104,909 $1,092,731 $1,080,487
-$6,181
-$18,163
-$11,982
7
$148,951
$980,117
-$6,116
-$18,163
-$12,047
8
$149,758
$967,263
-$6,051
-$18,163
-$12,112
9
$150,569
$954,340
-$5,985
-$18,163
-$12,178
10
$151,385
$941,346
-$5,919
-$18,163
-$12,244
11
$152,205
$928,282
M12
Annual
$3,500
$4,025
$4,629
$5,323
$6,122
$42,000
$48,300
$55,545
$63,877
$73,458
$500
$575
$661
$760
$875
$6,000
$6,900
$7,935
$9,125
$10,494
$3,500
$4,025
$4,629
$5,323
$6,122
$42,000
$48,300
$55,545
$63,877
$73,458
$120
$138
$159
$183
$210
$1,440
$1,656
$1,904
$2,190
$2,519
$150
$173
$198
$228
$262
$1,800
$2,070
$2,381
$2,738
$3,148
$1,500
$1,725
$1,984
$2,281
$2,624
$18,000
$20,700
$23,805
$27,376
$31,482
$50
$58
$66
$76
$87
$600
$690
$794
$913
$1,049
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$50
$58
$66
$76
$87
$600
$690
$794
$913
$1,049
$500
$575
$661
$760
$875
$6,000
$6,900
$7,935
$9,125
$10,494
$500
$575
$661
$760
$875
$6,000
$6,900
$7,935
$9,125
$10,494
$10,370
$11,926
$13,714
$15,771
$18,137
$124,440
$143,106
$164,572
$189,258
$217,646
Administrative
35%
30
3
2%
0
2%
30
2%
$500,000
10%
Capex
FY1
FY2
FY3
FY4
FY5
FY 1
$1,500,000
20%
80%
Year 2
Month 12
Month 13
$1,200,000 $1,068,176 $1,055,799

7%
84
-$5,853
-$5,786
-$18,163
-$18,163
-$12,310
-$12,377
12
13
$153,029 $153,858
$915,147 $901,942
Headcount
Monthly
Month 1
Headcount
Management
Neil Booc
Operations Manager
Designer/Seamstress
Salary
Support
Business Development/Marketing
$0
$60,000
$40,000
$45,000
Salary
$0
$63,672
$42,448
$0
$64,946
$43,297
2%
2%
2%
2%
$45,900
$46,818
$47,754
$48,709
1
0
1
$3,333
Total Salary
Total Personnel Expenses
$0
$62,424
$41,616
$3,750
Total Headcount
Payroll Taxes
Social Security
Medicare
Other taxes
Total Taxes
$0
$61,200
$40,800
$7,083
6.20%
1.45%
2.50%
10.15%
$719
$7,802
Month 2
Month 3
Month 4
Year 1
Month 6
Month 7
Month 5
Month 8
Month 9
Month 10
Month 11
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
1
0
1
$3,333
$3,750
$3,750
$3,750
$3,750
$3,750
$3,750
$3,750
$3,750
$3,750
$3,750
$7,083
$7,083
$7,083
$7,083
$7,083
$7,083
$7,083
$7,083
$7,083
$7,083
$719
$719
$719
$719
$719
$719
$719
$719
$719
$719
$7,802
$7,802
$7,802
$7,802
$7,802
$7,802
$7,802
$7,802
$7,802
$7,802
Month 12
1
0
1
$3,333
1
$3,750
3
$7,083
$719
$7,802
Month 1
Month 2
1
1
1
8,500 $
Month 3
1
1
1
8,500 $
Month 4
1
1
1
8,500 $
Year 2
Month 6
Month 7
Month 5
1
1
1
8,500 $
1
1
1
8,500 $
1
1
1
8,500 $
Month 8
1
1
1
8,500 $
Month 9
1
1
1
8,500 $
Month 10
1
1
1
8,500 $
Month 11
1
1
1
8,500 $
1
1
1
8,500
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$3,825
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$12,325
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$1,251
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
$13,576
Month 12
1
1
1
8,500
1
$3,825
4
$12,325
$1,251
$13,576
Month 1
Month 2
1
1
4
19,074 $
Month 3
1
1
4
19,074 $
Month 4
1
1
4
19,074 $
Month 5
1
1
4
19,074 $
Month 6
1
1
4
19,074 $
Year 3
Month 7
1
1
4
19,074 $
Month 8
1
1
4
19,074 $
Month 9
1
1
4
19,074 $
Month 10
1
1
4
19,074 $
Month 11
1
1
4
19,074 $
1
1
4
19,074
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$7,803
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$26,877
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$2,728
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
$29,605
Month 12
1
1
4
19,074
2
$7,803
8
$26,877
$2,728
$29,605
Headcount
Annual
Headcount
Management
Neil Booc
Operations Manager
Designer/Seamstress
Salary
Support
Business Development/Marketing
Salary
Total Headcount
Total Salary
Payroll Taxes
Social Security
Medicare
Other taxes
Total Taxes
FY1
FY2
FY3
FY4
FY5
1
0
1
$39,996
1
1
1
$102,000
1
1
4
$228,888
1
1
5
$275,914
1
1
6
$324,730
$45,000
$45,900
$93,636
$143,263
$146,128
10
11
$84,996
$147,900
$322,524
$419,177
$470,858
$8,627
$15,012
$32,736
$42,546
$47,792
$93,623
$162,912
$355,260
$461,723
$518,650
###
Assets & Depreciation Assumptions
Quarterly
FY 1
Q1 FY1
CAPITAL EXPENDITURES
Location Build Out
Manufacturing Equipment
Furniture, Fixtures, Equipment
TOTAL CAPEX
Q2 FY1
FY 2
Q3 FY1
Q4 FY1
Q1 FY2
Q2 FY2
$200,000
$200,000
$100,000
$500,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
INTANGIBLE ASSETS
Website Buildout
Intangible & Other Assets
TOTAL INTANGIBLE ASSETS
$25,000
$0
$25,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Working Capital
Personnel Expenses
Marketing Expenses
Additional Operating Capital
TOTAL OPEX
TOTAL INITIAL FUNDING
$250,000
$150,000
$575,000
$975,000
$1,500,000
$500,000
$12,500
$500,000
$25,000
$500,000
$37,500
$500,000
$50,000
$500,000
$62,500
$500,000
$75,000
Closing Balance
$487,500
$475,000
$462,500
$450,000
$437,500
$425,000
Total Depreciation
$12,500
$12,500
$12,500
$12,500
$12,500
$12,500
TOTAL ASSETS
Gross assets
Less : Accumulated Depreciation
FY 2
FY 3
Q3 FY2
Q4 FY2
Q1 FY3
Q2 FY3
Q3 FY3
Q4 FY3
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$500,000
$87,500
$500,000
$100,000
$500,000
$112,500
$500,000
$125,000
$500,000
$137,500
$500,000
$150,000
$412,500
$400,000
$387,500
$375,000
$362,500
$350,000
$12,500
$12,500
$12,500
$12,500
$12,500
$12,500
Assets & Depreciation Assumptions

Annual
Year 2
CAPITAL EXPENDITURES
Location Build Out
Manufacturing Equipment
Furniture, Fixtures, Equipment
TOTAL CAPEX
INTANGIBLE ASSETS
Website Buildout
TOTAL INTANGIBLE ASSETS
Working Capital
Personnel Expenses
Marketing Expenses
Additional Operating Capital
TOTAL OPEX
TOTAL INITIAL FUNDING
Year 3
Year 4
Year 5
$200,000
$200,000
$100,000
$500,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25,000
$0
$25,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$250,000
$150,000
$575,000
$975,000
$1,500,000
TOTAL ASSETS
Gross assets
Less : Accumulated Depreciation
$500,000
$50,000
$500,000
$100,000
$500,000
$150,000
$500,000
$200,000
$500,000
$250,000
Closing Balance
$450,000
$400,000
$350,000
$300,000
$250,000
$50,000
$50,000
$50,000
$50,000
$50,000
Total Depreciation
Income Statement Projections Year 1 Monthly

For the Year Ending
Month 1
Month 2
Month 3
Month 4
Month 5
FY1
Month 6
Month 7
Revenues
$1,400
$2,800
$8,400
$9,030
$9,707
$10,435
$11,218

Net Sales
Direct Cost
Direct Cost
$1,425
$2,825
$2,850
$5,650
$8,550
$16,950
$9,191
$18,221
$9,881
$19,588
$10,622
$21,057
$11,418
$22,636
$706
$1,413
$4,238
$4,555
$4,897
$5,264
$5,659
Cost of Goods Sold

GROSS PROFIT
Gross margin (%)
$(706)
$2,119
75%
$(1,413)
$4,238
75%
$(4,238)
$12,713
75%
$(4,555)
$13,666
75%
$(4,897)
$14,691
75%
$(5,264)
$15,793
75%
$(5,659)
$16,977
75%
Operating Expenses
Total Non-Personnel General & Administrati
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
Total Operating Expenses

EBITDA
EBITDA %
Depreciation
$(18,172)
$(16,053)
-568%
$(4,167)
$(18,172)
$(13,934)
-247%
$(4,167)
$(18,172)
$(5,459)
-32%
$(4,167)
$(18,172)
$(4,506)
-25%
$(4,167)
$(18,172)
$(3,481)
-18%
$(4,167)
$(18,172)
$(2,379)
-11%
$(4,167)
$(18,172)
$(1,195)
-5%
$(4,167)
$(20,220)
$(18,101)
$(9,626)
$(8,673)
$(7,648)
$(6,546)
$(5,361)
-716%
$(6,500)
-
-320%
$(6,500)
-
-57%
$(6,437)
-
-48%
$(6,373)
-
-39%
$(6,309)
-
-31%
$(6,245)
-
-24%
$(6,181)
-
$(26,720)
$(26,720)
-
$(24,601)
$(51,321)
-
$(16,063)
$(67,384)
-
$(15,046)
$(82,430)
-
$(13,957)
$(96,387)
-
$(12,791)
$(109,178)
-
$(11,542)
$(120,720)
-

EBIT
EBIT%
Interest Income
Pretax Income
Dividends
Cumulative Net Operating Loss
Adjusted against Loss
Taxable Income
Income Tax Expense
NET INCOME
Net Profit Margin (%)
($26,720)
-946%
($24,601)
-435%
($16,063)
-95%
($15,046)
-83%
($13,957)
-71%
($12,791)
-61%
($11,542)
-51%
nding
Month 8
Month 9
Month 10
Month 11
Month 12
$12,059
$12,964
$13,936
$14,981
$16,105
$12,275
$24,334
$13,195
$26,159
$14,185
$28,121
$15,249
$30,230
$16,392
$32,497
$6,083
$6,540
$7,030
$7,557
$8,124
$(6,083)
$18,250
75%
$(6,540)
$19,619
75%
$(7,030)
$21,091
75%
$(7,557)
$22,672
75%
$(8,124)
$24,373
75%
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(10,370)
$(7,802)
$(18,172)
$79
0%
$(4,167)
$(18,172)
$1,447
6%
$(4,167)
$(18,172)
$2,919
10%
$(4,167)
$(18,172)
$4,501
15%
$(4,167)
$(18,172)
$6,201
19%
$(4,167)
$(4,088)
$(2,719)
$(1,248)
$334
$2,034
-17%
$(6,116)
-
-10%
$(6,051)
-
-4%
$(5,985)
-
1%
$(5,919)
-
6%
$(5,853)
-
$(10,204)
$(130,924)
-
$(8,770)
$(139,694)
-
$(7,233)
$(146,927)
-
$(5,585)
$(152,512)
-
$(3,818)
$(156,330)
-
($10,204)
-42%
($8,770)
-34%
($7,233)
-26%
($5,585)
-18%
($3,818)
-12%
Income Statement Projections Year 2 Monthly

For the Year Ending
Month 1
Month 2
Month 3
Month 4
Month 5
FY2
Month 6
Month 7
Month 8
Revenues
$17,071
$18,095
$19,181
$20,332
$21,552
$22,845
$24,216
$25,669

Net Sales
Direct Cost
Direct Cost
$17,376
$34,447
$18,418
$36,514
$19,524
$38,705
$20,695
$41,027
$21,937
$43,489
$23,253
$46,098
$24,648
$48,864
$26,127
$51,796
$8,612
$9,128
$9,676
$10,257
$10,872
$11,524
$12,216
$12,949
Cost of Goods Sold

GROSS PROFIT
Gross margin (%)
$(8,612)
$25,835
75%
$(9,128)
$27,385
75%
$(9,676)
$29,029
75%
$(10,257)
$30,770
75%
$(10,872)
$32,616
75%
$(11,524)
$34,573
75%
$(12,216)
$36,648
75%
$(12,949)
$38,847
75%
Operating Expenses
Total Non-Personnel General & Admini
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)

EBITDA
EBITDA %
Depreciation
$(25,501)
$334
1%
$(4,167)
$(25,501)
$1,884
5%
$(4,167)
$(25,501)
$3,527
9%
$(4,167)
$(25,501)
$5,269
13%
$(4,167)
$(25,501)
$7,115
16%
$(4,167)
$(25,501)
$9,072
20%
$(4,167)
$(25,501)
$11,146
23%
$(4,167)
$(25,501)
$13,345
26%
$(4,167)
EBIT
$(3,833)
$(2,283)
$(640)
$1,102
$2,948
$4,905
$6,980
$9,179
EBIT%
Interest Income
-11%
$(5,786)
-
-6%
$(5,719)
-
-2%
$(5,652)
-
3%
$(5,584)
-
7%
$(5,516)
-
11%
$(5,447)
-
14%
$(5,378)
-
18%
$(5,309)
-
$(9,619)
$(165,949)
-
$(8,002)
$(173,951)
-
$(6,291)
$(180,242)
-
$(4,482)
$(184,724)
-
$(2,567)
$(187,291)
-
$(542)
$(187,833)
-
$1,601
$(187,833)
$1,601
-
$3,870
$(186,231)
$3,870
-

Pretax Income
Dividends
Taxable Income
Income Tax Expense
NET INCOME
($9,619)
-28%
($8,002)
-22%
($6,291)
-16%
($4,482)
-11%
($2,567)
-6%
($542)
-1%
$1,601
3%
$3,870
7%
Month 9
Month 10
Month 11
Month 12
$27,209
$28,841
$30,572
$32,406
$27,695
$54,903
$29,356
$58,198
$31,118
$61,689
$32,985
$65,391
$13,726
$14,549
$15,422
$16,348
$(13,726)
$41,177
75%
$(14,549)
$43,648
75%
$(15,422)
$46,267
75%
$(16,348)
$49,043
75%
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(11,926)
$(13,576)
$(25,501)
$15,676
29%
$(4,167)
$(25,501)
$18,147
31%
$(4,167)
$(25,501)
$20,766
34%
$(4,167)
$(25,501)
$23,542
36%
$(4,167)
$11,509
$13,980
$16,599
$19,375
21%
$(5,239)
-
24%
$(5,169)
-
27%
$(5,099)
-
30%
$(5,028)
-
$6,270
$(182,362)
$6,270
-
$8,811
$(176,092)
$8,811
-
$11,500
$(167,281)
$11,500
-
$14,347
$(155,781)
$14,347
-
$6,270
11%
$8,811
15%
$11,500
19%
$14,347
22%
For the Year Ending

Month 1
Month 2
Month 3
Month 4
Month 5
FY3
Month 6
Month 7
Month 8
$33,054
$33,715
$34,390
$35,077
$35,779
$36,494
$37,224
$37,969
$33,644
$66,699
$34,317
$68,033
$35,004
$69,393
$35,704
$70,781
$36,418
$72,197
$37,146
$73,641
$37,889
$75,113
$38,647
$76,616
Revenues
Net Sales
Direct Cost
Direct Cost
$16,675
$17,008
$17,348
$17,695
$18,049
$18,410
$18,778
$19,154
Cost of Goods Sold

GROSS PROFIT
Gross margin (%)
$(16,675)
$50,024
75%
$(17,008)
$51,024
75%
$(17,348)
$52,045
75%
$(17,695)
$53,086
75%
$(18,049)
$54,147
75%
$(18,410)
$55,230
75%
$(18,778)
$56,335
75%
$(19,154)
$57,462
75%
Operating Expenses
Total Non-Personnel General & Admini
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)

EBITDA
EBITDA %
Depreciation
$(43,319)
$6,705
10%
$(4,167)
$(43,319)
$7,705
11%
$(4,167)
$(43,319)
$8,726
13%
$(4,167)
$(43,319)
$9,766
14%
$(4,167)
$(43,319)
$10,828
15%
$(4,167)
$(43,319)
$11,911
16%
$(4,167)
$(43,319)
$13,016
17%
$(4,167)
$(43,319)
$14,142
18%
$(4,167)
$2,538
$3,538
$4,559
$5,600
$6,661
$7,744
$8,849
$9,976
4%
$(4,957)
-
5%
$(4,886)
-
7%
$(4,814)
-
8%
$(4,741)
-
9%
$(4,669)
-
11%
$(4,595)
-
12%
$(4,522)
-
13%
$(4,448)
-
$(2,419)
$(158,200)
-
$(1,347)
$(159,548)
-
$(255)
$(159,802)
-
$858
$(159,802)
$858
-
$1,993
$(158,944)
$1,993
-
$3,149
$(156,951)
$3,149
-
$4,327
$(153,802)
$4,327
-
$5,528
$(149,475)
$5,528
-

EBIT
EBIT%
Interest Income
Pretax Income
Dividends
Taxable Income
Income Tax Expense
NET INCOME
($2,419)
-4%
($1,347)
-2%
($255)
0%
$858
1%
$1,993
3%
$3,149
4%
$4,327
6%
$5,528
7%
Month 9
Month 10
Month 11
Month 12
$38,728
$39,503
$40,293
$41,099
$39,420
$78,148
$40,208
$79,711
$41,012
$81,305
$41,833
$82,931
$19,537
$19,928
$20,326
$20,733
$(19,537)
$58,611
75%
$(19,928)
$59,783
75%
$(20,326)
$60,979
75%
$(20,733)
$62,198
75%
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(13,714)
$(29,605)
$(43,319)
$15,292
20%
$(4,167)
$(43,319)
$16,464
21%
$(4,167)
$(43,319)
$17,660
22%
$(4,167)
$(43,319)
$18,879
23%
$(4,167)
$11,125
$12,297
$13,493
$14,712
14%
$(4,374)
-
15%
$(4,299)
-
17%
$(4,224)
-
18%
$(4,149)
-
$6,751
$(143,947)
$6,751
-
$7,998
$(137,196)
$7,998
-
$9,269
$(129,198)
$9,269
-
$10,564
$(119,929)
$10,564
-
$6,751
9%
$7,998
10%
$9,269
11%
$10,564
13%
Annual
For the Year Ending
FY1
FY2
FY3
FY4
FY5
Revenues
$123,036
$287,988
$443,325
$562,244
$667,661

Net Sales
Direct Cost
Direct Cost
$125,233
$248,268
$293,131
$581,119
$451,242
$894,567
$572,284
$1,134,527
$679,584
$1,347,245
$62,067
$145,280
$223,642
$226,905
$269,449
Cost of Goods Sold

GROSS PROFIT
Gross margin (%)
$(62,067)
$186,201
75%
$(145,280)
$435,839
75%
$(223,642)
$670,925
75%
$(226,905)
$907,622
80%
$(269,449)
$1,077,796
80%
Operating Expenses
Total Non-Personnel General & Administr
$(124,440)
$(93,623)
$(143,106)
$(162,912)
$(164,572)
$(355,260)
$(189,258)
$(461,723)
$(217,646)
$(518,650)
Total Operating Expenses

EBITDA
EBITDA %
Depreciation
$(218,063)
$(31,862)
-13%
($50,000)
$(306,018)
$129,822
22%
($50,000)
$(519,832)
$151,093
17%
($50,000)
$(650,981)
$256,641
23%
($50,000)
$(736,296)
$341,500
25%
($50,000)
$0
$0
EBIT
($81,862)
$79,822
$101,093
$206,641
$291,500
EBIT%
Interest Income
($74,468)
$0
$0
($64,926)
$0
$0
($54,677)
$0
$0
($43,742)
$0
$0
($32,075)
$0
$0

Pretax Income
Dividends
Taxable Income
$0
($156,330)
$0
($156,330)
$0
$0
$0
$14,896
$0
($156,330)
$14,896
$0
$0
$46,416
$0
($141,435)
$46,416
$0
$0
$162,898
$0
($95,019)
$95,019
$67,880
$0
$259,425
$0
$0
$0
$259,425
Income Tax Expense
$0
$0
$0
($23,758)
($90,799)
NET INCOME
($156,330)
-63%
$14,896
3%
$46,416
5%
$139,141
12%
$168,626
13%
Balance Sheet Projections
ASSETS
Cash
Accounts Receivable
Prepaid Expenses
Inventory
Other Current Assets
Month 1
Month 2
Month 3
Month 4
For the Year Ending

FY1
Month 5
Month 6
Month 7
970,985
283
57
0
939,256
565
113
0
917,103
1,695
339
0
894,599
1,822
364
0
873,133
1,959
392
0
852,781
2,106
421
0
833,629
2,264
453
0
57
113
339
364
392
421
453
Total Current Assets
971,381
940,047
919,476
897,150
875,875
855,729
836,798
Property & Equipment

Leased Asset
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(4,167)
(8,333)
(12,500)
(16,667)
(20,833)
(25,000)
(29,167)
Property & Equipment, net
495,833
491,667
487,500
483,333
479,167
475,000
470,833

Assets (IP)
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
Accumulated Depreciation
1,492,215
1,456,714
1,431,976
1,405,483
1,380,042
1,355,729
1,332,632
LIABILITIES & EQUITY

Accounts Payable
Accrued Expenses & Payroll Taxes
Other Current Liabilities
706
18,172
57
1,413
18,172
113
4,238
18,172
339
4,555
18,172
364
4,897
18,172
392
5,264
18,172
421
5,659
18,172
453
Current Portion of Long Term Debt
144,201
144,982
145,767
146,557
147,350
148,149
148,951
163,135
164,680
168,516
169,648
170,811
172,006
173,235
1,055,799
1,043,355
1,030,844
1,018,265
1,005,618
992,902
980,117
1,218,935
1,208,035
1,199,360
1,187,913
1,176,429
1,164,907
1,153,352
Paid in Capital
300,000
300,000
300,000
300,000
300,000
300,000
300,000
Retained earnings
(26,720)
(51,321)
(67,384)
(82,430)
(96,387)
(109,178)
(120,720)
273,280
248,679
232,616
217,570
203,613
190,822
179,280
1,492,215
$0
1,456,714
$0
1,431,976
$0
1,405,483
$0
1,380,042
$0
1,355,729
$0
1,332,632
$0
TOTAL ASSETS
Total Current Liabilities

Long-Term Debt, net of Current
Due to Related Parties
Total Liabilities
Shareholder's Equity
Total Equity
TOTAL LIABILITIES & EQUITY
check
ear Ending
Y1
Month 8
Month 9
Month 10
Month 11
Month 12
815,765
2,433
487
0
799,287
2,616
523
0
784,298
2,812
562
0
770,909
3,023
605
0
759,242
3,250
650
0
487
523
562
605
650
819,172
802,950
788,235
775,142
763,792
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(33,333)
(37,500)
(41,667)
(45,833)
(50,000)
466,667
462,500
458,333
454,167
450,000
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
1,310,838
1,290,450
1,271,568
1,254,308
1,238,792
6,083
18,172
487
6,540
18,172
523
7,030
18,172
562
7,557
18,172
605
8,124
18,172
650
149,758
150,569
151,385
152,205
153,029
174,499
175,804
177,149
178,538
179,975
967,263
954,340
941,346
928,282
915,147
1,141,763
1,130,144
1,118,495
1,106,820
1,095,122
300,000
300,000
300,000
300,000
300,000
(130,924)
(139,694)
(146,927)
(152,512)
(156,330)
169,076
160,306
153,073
147,488
143,670
1,310,838
$0
1,290,450
$0
1,271,568
$0
1,254,308
$0
1,238,792
$0
ASSETS
Cash
Accounts Receivable
Prepaid Expenses
Inventory
Month 1
Month 2
Month 3
Month 4
Month 5
748,996
3,445
689
0
732,986
3,651
730
0
718,635
3,870
774
0
706,042
4,103
821
0
695,314
4,349
870
0
For the Year Ending

FY2
Month 6
Month 7
686,562
4,610
922
0
679,906
4,886
977
0
689
730
774
821
870
922
977
753,819
738,097
724,053
711,786
701,403
693,016
686,747

Leased Asset
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(54,167)
(58,333)
(62,500)
(66,667)
(70,833)
(75,000)
(79,167)
445,833
441,667
437,500
433,333
429,167
425,000
420,833

Assets (IP)
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
1,224,652
1,204,764
1,186,553
1,170,120
1,155,569
1,143,016
1,132,580

Accounts Payable
Accrued Expenses & Payroll Taxes P
8,612
25,501
689
9,128
25,501
730
9,676
25,501
774
10,257
25,501
821
10,872
25,501
870
11,524
25,501
922
12,216
25,501
977
153,858
154,691
155,529
156,372
157,219
158,070
158,927
188,660
190,051
191,480
192,950
194,461
196,017
197,621
901,942
888,664
875,315
861,893
848,399
834,831
821,191
1,090,601
1,078,715
1,066,795
1,054,843
1,042,860
1,030,849
1,018,811
TOTAL ASSETS

Total Liabilities
Paid in Capital
Retained earnings
Total Equity
300,000
300,000
300,000
300,000
300,000
300,000
300,000
(165,949)
(173,951)
(180,242)
(184,724)
(187,291)
(187,833)
(186,231)
134,051
126,049
119,758
115,276
112,709
112,167
113,769
1,224,652
$0
1,204,764
$0
1,186,553
$0
1,170,120
$0
1,155,569
$0
1,143,016
$0
1,132,580
$0
Year Ending
FY2
Month 8
Month 9
Month 10
Month 11
Month 12
675,469
5,180
1,036
0
673,387
5,490
1,098
0
673,798
5,820
1,164
0
676,854
6,169
1,234
0
682,715
6,539
1,308
0
1,036
1,098
1,164
1,234
1,308
682,721
681,073
681,945
685,491
691,870
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(83,333)
(87,500)
(91,667)
(95,833)
(100,000)
416,667
412,500
408,333
404,167
400,000
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
1,124,387
1,118,573
1,115,279
1,114,658
1,116,870
12,949
25,501
1,036
13,726
25,501
1,098
14,549
25,501
1,164
15,422
25,501
1,234
16,348
25,501
1,308
159,787
160,653
161,523
162,398
163,278
199,273
200,978
202,737
204,555
206,434
807,476
793,687
779,823
765,884
751,870
1,006,749
994,665
982,560
970,439
958,304
300,000
300,000
300,000
300,000
300,000
(182,362)
(176,092)
(167,281)
(155,781)
(141,435)
117,638
123,908
132,719
144,219
158,565
1,124,387
$0
1,118,573
$0
1,115,279
$0
1,114,658
$0
1,116,870
$0
ASSETS
Cash
Accounts Receivable
Prepaid Expenses
Inventory
Month 1
Month 2
Month 3
Month 4
Month 5
For the Year Ending

FY3
Month 6
Month 7
689,245
6,670
1,334
0
678,960
6,803
1,361
0
669,699
6,939
1,388
0
661,483
7,078
1,416
0
654,332
7,220
1,444
0
648,268
7,364
1,473
0
643,313
7,511
1,502
0
1,334
1,361
1,388
1,416
1,444
1,473
1,502
698,582
688,484
679,414
671,392
664,440
658,578
653,828

Leased Asset
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(104,167)
(108,333)
(112,500)
(116,667)
(120,833)
(125,000)
(129,167)
395,833
391,667
387,500
383,333
379,167
375,000
370,833

Assets (IP)
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
1,119,416
1,105,151
1,091,914
1,079,726
1,068,607
1,058,578
1,049,662

Accounts Payable
16,675
43,319
1,334
17,008
43,319
1,361
17,348
43,319
1,388
17,695
43,319
1,416
18,049
43,319
1,444
18,410
43,319
1,473
18,778
43,319
1,502
164,162
165,051
165,945
166,844
167,748
168,657
169,570
225,490
226,739
228,000
229,274
230,560
231,858
233,169
737,779
723,613
709,369
695,049
680,651
666,175
651,620
963,269
950,352
937,370
924,323
911,211
898,033
884,790
TOTAL ASSETS

Total Liabilities
Paid in Capital
Retained earnings
Total Equity
300,000
300,000
300,000
300,000
300,000
300,000
300,000
(143,854)
(145,201)
(145,456)
(144,597)
(142,604)
(139,455)
(135,128)
156,146
154,799
154,544
155,403
157,396
160,545
164,872
1,119,416
$0
1,105,151
$0
1,091,914
$0
1,079,726
$0
1,068,607
$0
1,058,578
$0
1,049,662
$0
the Year Ending

FY3
Month 8
Month 9
Month 10
Month 11
Month 12
639,487
7,662
1,532
0
636,815
7,815
1,563
0
635,320
7,971
1,594
0
635,023
8,131
1,626
0
635,952
8,293
1,659
0
1,532
1,563
1,594
1,626
1,659
650,214
647,756
646,480
646,406
647,562
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(133,333)
(137,500)
(141,667)
(145,833)
(150,000)
366,667
362,500
358,333
354,167
350,000
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0
1,041,881
1,035,256
1,029,813
1,025,573
1,022,562
19,154
43,319
1,532
19,537
43,319
1,563
19,928
43,319
1,594
20,326
43,319
1,626
20,733
43,319
1,659
170,489
171,412
172,341
173,274
174,213
234,494
235,831
237,182
238,545
239,923
636,987
622,275
607,482
592,610
577,657
871,481
858,106
844,664
831,155
817,580
300,000
300,000
300,000
300,000
300,000
(129,601)
(122,849)
(114,851)
(105,582)
(95,019)
170,399
177,151
185,149
194,418
204,981
1,041,881
$0
1,035,256
$0
1,029,813
$0
1,025,573
$0
1,022,562
$0
For the Year Ending
ASSETS
Cash
Accounts Receivable
Prepaid Expenses
Inventory
FY1
FY2
FY3
FY4
FY5
759,242
3,250
650
0
682,715
6,539
1,308
0
635,952
8,293
1,659
0
658,591
9,454
1,891
0
699,865
11,227
2,245
0
650
1,308
1,659
1,891
2,245
763,792
691,870
647,562
671,827
715,583

Leased Asset
500,000
0
500,000
0
500,000
0
500,000
0
500,000
0
(50,000)
(100,000)
(150,000)
(200,000)
(250,000)
450,000
400,000
350,000
300,000
250,000

Assets (IP)
25,000
0
25,000
0
25,000
0
25,000
0
25,000
0

TOTAL ASSETS
Accounts Payable
Total Liabilities
Paid in Capital
Retained earnings
Total Equity
check
1,238,792
1,116,870
1,022,562
996,827
990,583
8,124
18,172
650
16,348
25,501
1,308
20,733
43,319
1,659
18,909
54,248
1,891
22,454
61,358
2,245
153,029
163,278
174,213
185,880
198,329
179,975
206,434
239,923
260,928
284,386
915,147
751,870
577,657
391,777
193,448
1,095,122
958,304
817,580
652,705
477,834
300,000
300,000
300,000
300,000
300,000
(156,330)
(141,435)
(95,019)
44,122
212,748
143,670
158,565
204,981
344,122
512,748
1,238,792
$0
1,116,870
$0
1,022,562
$0
996,827
$0
990,583
$0
Cash Flow Projections

Monthly
For the Year Ended
Month 1
CASH FLOW FROM OPERATIONS
Net Income (Loss)
Plus Depreciation
Plus Amortization & Impairment
Changes in Working Capital
Changes in A/R
Changes in Prepaid Expenses
Changes in Inventory
Changes in Other Current Assets
Changes in A/P
Changes in Accrued Expenses
Changes in Other Current Liabilities
Month 2
Month 3
Month 4
Month 5
FY1
Month 6
($26,720)
$4,167
($24,601)
$4,167
($16,063)
$4,167
($15,046)
$4,167
($13,957)
$4,167
($12,791)
$4,167
$0
$0
$0
$0
$0
$0
($283)
($57)
$0
($57)
$706
$18,172
($282)
($57)
$0
($57)
$707
$0
($1,130)
($226)
$0
($226)
$2,825
$0
($127)
($25)
$0
($25)
$317
$0
($137)
($27)
$0
($27)
$342
$0
($147)
($29)
$0
($29)
$367
$0
$57
$57
$226
$25
$27
$29
Net Change in Working Capital
$18,539
$369
$1,469
$165
$178
$191
Net Cash Flow from Operations
($4,015)
($20,066)
($10,427)
($10,715)
($9,613)
($8,434)
($25,000)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($500,000)
$0
$0
$0
$0
$0
($525,000)
$0
$0
$0
$0
$0
$300,000
$1,200,000
$0
($11,663)
$0
($11,726)
$0
($11,790)
$0
($11,853)
$0
($11,918)
$0
$0
$0
$0
$0
$0
$1,500,000
($11,663)
($11,726)
($11,790)
($11,853)
($11,918)
CASH FLOW FROM INVESTMENTS

Purchase of Assets (IP)
Purchase of Intangibles & Other Asse
Fixed Assets
Net Cash Flow from Investments
CASH FLOW FROM FINANCING
Paid in Capital
Debt
Lease Payments
Net Cash Flow from Financing
Net Cash Flow
Cash at Beginning of Period
Cash at End of Period
$970,985
($31,729)
($22,153)
($22,504)
($21,466)
($20,352)
$0
$970,985
$939,256
$917,103
$894,599
$873,133
$970,985
$939,256
$917,103
$894,599
$873,133
$852,781
For the Year Ended

FY1
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
($11,542)
$4,167
($10,204)
$4,167
($8,770)
$4,167
($7,233)
$4,167
($5,585)
$4,167
($3,818)
$4,167
$0
$0
$0
$0
$0
$0
($158)
($32)
$0
($32)
$395
$0
($169)
($34)
$0
($34)
$424
$0
($183)
($37)
$0
($37)
$457
$0
($196)
($39)
$0
($39)
$490
$0
($211)
($42)
$0
($42)
$527
$0
($227)
($45)
$0
($45)
$567
$0
$32
$34
$37
$39
$42
$45
$205
$221
$237
$255
$274
$295
($7,170)
($5,816)
($4,366)
($2,811)
($1,145)
$643
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($11,982)
$0
($12,047)
$0
($12,112)
$0
($12,178)
$0
($12,244)
$0
($12,310)
$0
$0
$0
$0
$0
$0
($11,982)
($12,047)
($12,112)
($12,178)
($12,244)
($12,310)
($19,152)
($17,863)
($16,478)
($14,989)
($13,389)
($11,667)
$852,781
$833,629
$815,765
$799,287
$784,298
$770,909
$833,629
$815,765
$799,287
$784,298
$770,909
$759,242
For the Year Ended

Month 1
Net Income (Loss)
Plus Depreciation
Changes in A/R
Changes in A/P
Month 2
Month 3
Month 4
Month 5
Month 6
FY2
Month 7
($9,619)
$4,167
($8,002)
$4,167
($6,291)
$4,167
($4,482)
$4,167
($2,567)
$4,167
($542)
$4,167
$1,601
$4,167
$0
$0
$0
$0
$0
$0
$0
($195)
($39)
$0
($39)
$488
$7,329
($206)
($41)
$0
($41)
$516
$0
($219)
($44)
$0
($44)
$548
$0
($233)
($46)
$0
($46)
$581
$0
($246)
($49)
$0
($49)
$615
$0
($261)
($52)
$0
($52)
$652
$0
($276)
($55)
$0
($55)
$692
$0
$39
$41
$44
$46
$49
$52
$55
$7,583
$269
$285
$302
$320
$339
$361
$2,131
($3,566)
($1,839)
($13)
$1,919
$3,964
$6,129
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($12,377)
$0
($12,444)
$0
($12,511)
$0
($12,579)
$0
($12,647)
$0
($12,716)
$0
($12,785)
$0
$0
$0
$0
$0
$0
$0
($12,377)
($12,444)
($12,511)
($12,579)
($12,647)
($12,716)
($12,785)

Purchase of Intangibles & Other Assets
Fixed Assets
Paid in Capital
Debt
Loan
Net Cash Flow
($10,246)
($16,010)
($14,351)
($12,593)
($10,728)
($8,752)
($6,656)
$759,242
$748,996
$732,986
$718,635
$706,042
$695,314
$686,562
$748,996
$732,986
$718,635
$706,042
$695,314
$686,562
$679,906
he Year Ended
FY2
Month 8
Month 9
Month 10
Month 11
Month 12
$3,870
$4,167
$6,270
$4,167
$8,811
$4,167
$11,500
$4,167
$14,347
$4,167
$0
$0
$0
$0
$0
($294)
($59)
$0
($59)
$733
$0
($310)
($62)
$0
($62)
$777
$0
($330)
($66)
$0
($66)
$823
$0
($349)
($70)
$0
($70)
$873
$0
($370)
($74)
$0
($74)
$926
$0
$59
$62
$66
$70
$74
$380
$405
$427
$454
$482
$8,417
$10,842
$13,404
$16,121
$18,995
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($12,854)
$0
($12,924)
$0
($12,994)
$0
($13,064)
$0
($13,135)
$0
$0
$0
$0
$0
($12,854)
($12,924)
($12,994)
($13,064)
($13,135)
($4,437)
($2,082)
$411
$3,057
$5,861
$679,906
$675,469
$673,387
$673,798
$676,854
$675,469
$673,387
$673,798
$676,854
$682,715
For the Year Ended

FY3
Month 1
Net Income (Loss)
Plus Depreciation
Changes in A/R
Changes in A/P
Month 2
Month 3
Month 4
Month 5
Month 6
($2,419)
$4,167
($1,347)
$4,167
($255)
$4,167
$858
$4,167
$1,993
$4,167
$3,149
$4,167
$0
$0
$0
$0
$0
$0
($131)
($26)
$0
($26)
$327
$17,818
($133)
($27)
$0
($27)
$333
$0
($136)
($27)
$0
($27)
$340
$0
($139)
($28)
$0
($28)
$347
$0
($142)
($28)
$0
($28)
$354
$0
($144)
($29)
$0
($29)
$361
$0
$26
$27
$27
$28
$28
$29
$17,988
$173
$177
$180
$184
$188
$19,735
$2,993
$4,089
$5,205
$6,343
$7,504
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($13,206)
$0
($13,277)
$0
($13,349)
$0
($13,422)
$0
($13,494)
$0
($13,567)
$0
$0
$0
$0
$0
$0
($13,206)
($13,277)
($13,349)
($13,422)
($13,494)
($13,567)

Purchase of Intangibles & Other Asse
Fixed Assets
Paid in Capital
Debt
Loan
Net Cash Flow
$6,530
($10,285)
($9,261)
($8,216)
($7,151)
($6,064)
$682,715
$689,245
$678,960
$669,699
$661,483
$654,332
$689,245
$678,960
$669,699
$661,483
$654,332
$648,268
For the Year Ended

FY3
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$4,327
$4,167
$5,528
$4,167
$6,751
$4,167
$7,998
$4,167
$9,269
$4,167
$10,564
$4,167
$0
$0
$0
$0
$0
$0
($147)
($29)
$0
($29)
$368
$0
($151)
($30)
$0
($30)
$376
$0
($153)
($31)
$0
($31)
$383
$0
($156)
($31)
$0
($31)
$391
$0
($160)
($32)
$0
($32)
$398
$0
($162)
($33)
$0
($33)
$407
$0
$29
$30
$31
$31
$32
$33
$192
$195
$199
$204
$206
$212
$8,685
$9,889
$11,117
$12,368
$13,642
$14,943
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($13,641)
$0
($13,715)
$0
($13,789)
$0
($13,864)
$0
($13,939)
$0
($14,014)
$0
$0
$0
$0
$0
$0
($13,641)
($13,715)
($13,789)
($13,864)
($13,939)
($14,014)
($4,956)
($3,826)
($2,672)
($1,495)
($297)
$929
$648,268
$643,313
$639,487
$636,815
$635,320
$635,023
$643,313
$639,487
$636,815
$635,320
$635,023
$635,952
Cash Flow Projections

Annual
For the Year Ending
FY1
Net Income (Loss)
Plus Depreciation
Changes in A/R
Changes in A/P
FY2
FY3
FY4
FY5
($156,330)
$50,000
$14,896
$50,000
$46,416
$50,000
$139,141
$50,000
$168,626
$50,000
$0
$0
$0
$0
$0
($3,250)
($650)
$0
($650)
$8,124
$18,172
($3,289)
($658)
$0
($658)
$8,224
$7,329
($1,754)
($351)
$0
($351)
$4,385
$17,818
($1,161)
($232)
$0
($232)
($1,824)
$10,929
($1,773)
($355)
$0
($355)
$3,545
$7,110
$650
$658
$351
$232
$355
$22,396
$11,606
$20,098
$7,712
$8,527
($83,934)
$76,502
$116,514
$196,852
$227,154
($25,000)
$0
$0
$0
$0
$0
$0
$0
$0
$0
Fixed Assets
($500,000)
$0
$0
$0
$0
($525,000)
$0
$0
$0
$0
$300,000
$1,068,176
$0
($153,029)
$0
($163,278)
$0
($174,213)
$0
($185,880)
$0
$0
$0
$0
$0
$1,368,176
($153,029)
($163,278)
($174,213)
($185,880)

Purchase of Intangibles & Other Assets

Paid in Capital
Debt
Lease Payments
Net Cash Flow
$759,242
($76,527)
($46,763)
$22,640
$41,274
$0
$759,242
$682,715
$635,952
$658,591
$759,242
$682,715
$635,952
$658,591
$699,865
###
Depreciation Calculation for Tangible Assets
Fixed asset
Ramp up
Ramp up
Year 5
Year 4
Year 3
Year 2
Year 1
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total addition
Year 1
Initial
Q1
$500,000
Q2
Year 2
Q3
Q4
Q1
Q2
Q3
$0
$0
$0
$0
$0
$0
$0
$500,000
$0
$0
$0
$0
$0
$0
$0
Depreciation
$12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Initial
Year 5
Year 4
Year 3
Year 2
Year 1
Year 5
Year 4
Year 3
Year 2
Year 1
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total Depreciation
Accumulated
depreciation
Initial
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
$12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
$0
$12,500 $25,000 $37,500 $50,000 $62,500 $75,000 $87,500

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$12,500 $25,000 $37,500 $50,000 $62,500 $75,000 $87,500
Year 2
Q4
$0
$0
$12,500
$0
$0
$0
$0
$0
$0
$0
$0
$12,500
$100,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100,000
Year 3
Q1
Q2
Year 4
Q3
Q4
Q1
Q2
Year 5
Q3
Q4
Q1
Q2
Q3
Q4
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0 Err:508 Err:508 Err:508 Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508 Err:508 Err:508 Err:508
$0
$0
$0
$0
Err:508 Err:508 Err:508
Err:508 Err:508
Err:508
$12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 Err:508 Err:508 Err:508 Err:508 Err:508
$112,500 $125,000 $137,500 $150,000 $162,500 $175,000 $187,500 $200,000 $212,500

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
Err:508 Err:508
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$112,500 $125,000 $137,500 $150,000 $162,500 $175,000 $187,500
Err:508
Err:508
$225,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508
Err:508
Err:508
$0
Err:508
Err:508
Err:508
$0
Err:508
$0
$0
$237,500
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508
Err:508
Err:508
$0
Err:508
Err:508
Err:508
$0
Err:508
Err:508
$0
$250,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
Err:508
Err:508
Err:508
$0
Err:508
Err:508
Err:508
$0
Err:508
Err:508
Err:508
Err:508
Err:508
Err:508

Emperor - Financial Model - 5 8 15 1

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Emperor - Financial Model - 5 8 15 1

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Summary

For the Year Ending

Total Direct Cost

Total Other Expenses

EBITDA, Net Income, and Net Profit (%)

Total Wholesale Revenue

Total Units Sold via Retail Channel

Total Retail & Ecommerce Revenue

Total Units Sold

Units via Wholesale Channels

Units via Retail Store

Repairs and Maintenance

Balance Sheet Assumptions

New Loan Amount

### $1,164,821 $1,152,968 $1,141,050

$1,129,068 $1,117,021 $1,104,909 $1,092,731 $1,080,487

$1,200,000 $1,068,176 $1,055,799

Total Personnel Expenses

Assets & Depreciation Assumptions

Income Statement Projections Year 1 Monthly

Total Retail & Ecommerce Revenue

Cost of Goods Sold

Total Operating Expenses

Amortization & Impairment

Income Statement Projections Year 2 Monthly

Total Retail & Ecommerce Revenue

Cost of Goods Sold

Total Other Expenses

Amortization & Impairment

Other Income (Expenses)

For the Year Ending

Cost of Goods Sold

Total Other Expenses

Amortization & Impairment

Total Retail & Ecommerce Revenue

Cost of Goods Sold

Total Operating Expenses

Amortization & Impairment

Other Income (Expenses)

Income Tax Expense

Balance Sheet Projections

For the Year Ending

Total Current Assets

Property & Equipment

Property & Equipment, net

Intangible & Other Assets

Amortization & Impairment

LIABILITIES & EQUITY

Current Portion of Long Term Debt

Total Current Liabilities

For the Year Ending

Total Current Assets

Property & Equipment

Property & Equipment, net

Intangible & Other Assets

Amortization & Impairment

LIABILITIES & EQUITY

Current Portion of Long Term Debt

Total Current Liabilities

For the Year Ending

Total Current Assets

Property & Equipment