bal

BALANCE SHEET as at:

ASSETS 31Oct96 31Oct97 31Oct97

prelim final
Cash: 400000 22733 162733
Inventory: 223476 223476
Accounts Receivable: 325903 325903
TOTAL CURRENT ASSETS: 400000 572112 712112

Equipment: 50000
Furnishings: 75000
Tooling, Molds: 60000
Intellectual Property: 25000

TOTAL FIXED ASSETS: 210000

TOTAL ASSETS: 400000 572112 922112

LIABILITIES

Bank Line: 50000 0

Accounts Payable: 278344 278344

Long Term Debts: 100000 100000

TOTAL LIABILITIES: 150000 278344 378344

SHAREHOLDERS' EQUITY:

Share Capital: 250000 250000

Retained Earnings: 293768 293768

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TOTAL EQUITY: 250000 293768 543768

LIABILITIES + EQUITY: 400000 572112 922112

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 bal

BALANCE SHEET as at:

ASSETS 31Oct96 31Oct97 31Oct97

prelim final
Cash: 400000 22733 162733
Inventory: 223476 223476
Accounts Receivable: 325903 325903
TOTAL CURRENT ASSETS: 400000 572112 712112

Equipment: 50000
Furnishings: 75000
Tooling, Molds: 60000
Intellectual Property: 25000

TOTAL FIXED ASSETS: 210000

TOTAL ASSETS: 400000 572112 922112

LIABILITIES

Bank Line: 50000 0

Accounts Payable: 278344 278344

Long Term Debts: 100000 100000

TOTAL LIABILITIES: 150000 278344 378344

SHAREHOLDERS' EQUITY:

Share Capital: 250000 250000

Retained Earnings: 293768 293768

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TOTAL EQUITY: 250000 293768 543768

LIABILITIES + EQUITY: 400000 572112 922112

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P&L and CASH FLOW PROJECTIONS

Millenium Tech Corp Last Updated: 22-Oct-97

Month#1 Month#2 Month#3 Month#4 Month#5 Month#6 Month#7 Month#8 Month#9 Month#10 Month#11 Month#12 FYTOTAL
SALES:
#Dealers: 5 10 10 15 15 20 20 20 25 25 25 30
Sales/Dlr: 3 4 8 10 15 15 20 20 20 20 20 20
Dealer Sales: 15 40 80 150 225 300 400 400 500 500 500 600
Direct Sales: 5 10 20 30 40 50 50 50 50 50 50 50
TOTAL UNITS: 20 50 100 180 265 350 450 450 550 550 550 650 4165

AVG. SELLING PRICE: 560.00 554.40 548.86 543.37 537.93 532.55 527.23 521.96 516.74 511.57 506.45 501.39

GROSS REVENUE($): 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363 278550 325903 2162713

Unit Costs: 384 380 376 373 369 365 362 358 354 351 347 344
COST OF GOODS SOLD: 7680 19008 37636 67067 97750 127813 162688 161061 194884 192935 191005 223476 1483003

GROSS MARGIN: 3520 8712 17250 30739 44802 58581 74565 73820 89322 88428 87544 102427 679710
31% 31% 31% 31% 31% 31% 31% 31% 31% 31% 31% 31%

EXPENSES:
Sales: 9060 8167 12222 15389 13386 14917 17773 19966 21455 21121 22927 23573 199954
R&D: 1100 867 1022 2764 4761 6292 9148 10416 12955 12671 14677 15373 92044
G&A: 1100 1267 1322 2714 4711 6242 9098 10416 13005 12921 15227 15923 93944

TOTAL EXPENSES: 11260 10300 14567 20867 22857 27450 36018 40797 47414 46714 52830 54868 385942

NET PROFIT (BT): -7740 -1588 2683 9872 21945 31131 38547 33023 41908 41714 34714 47559 293768

CASH FLOW #1 ($):

Open Cash Balance: 0 -7680 -26748 -46964 -73712 -94523 -102641 -106385 -66211 -67011 -23154 20489
Add Cash from Sales: 0 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363 278550
Less Cash re Expenses: 0 -11260 -10300 -14567 -20867 -22857 -27450 -36018 -40797 -47414 -46714 -52830
Less Cash for Prod'n: -7680 -19008 -37636 -67067 -97750 -127813 -162688 -161061 -194884 -192935 -191005 -223476
Closing Cash Balance: -7680 -26748 -46964 -73712 -94523 -102641 -106385 -66211 -67011 -23154 20489 22733

CASH FLOW #2($):

Open Cash Balance: -26688 -64324 -142651 -239501 -354161 -482830 -568942 -648723 -691282 -685832 -721842 -484350
Add Cash from Sales: 0 0 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363
Less Cash re Expenses: 0 -11260 -10300 -14567 -20867 -22857 -27450 -36018 -40797 -47414 -46714 -52830
Less Cash for Prod'n: -37636 -67067 -97750 -127813 -162688 -161061 -194884 -192935 -191005 -223476
Closing Cash Balance: -64324 -142651 -239501 -354161 -482830 -568942 -648723 -691282 -685832 -721842 -484350 -255817

ACCOUNTS RECEIVABLE:
Open A/R Balance: 0 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363 278550
+ New Sales: 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363 278550 325903
- Cash From Sales: 0 -11200 -27720 -54886 -97806 -142552 -186394 -237253 -234880 -284205 -281363 -278550
= Closing A/R Balance: 11200 27720 54886 97806 142552 186394 237253 234880 284205 281363 278550 325903

ACCOUNTS PAYABLE:
Open A/P Balance: 7680 30268 47936 81634 118617 150670 190138 197079 235681 240349 237719 276306
+ Prod'n goods rec'd: 19008 37636 67067 97750 127813 162688 161061 194884 192935 191005 223476 223476
+ Expense items: 11260 10300 14567 20867 22857 27450 36018 40797 47414 46714 52830 54868
- Goods shipped: -7680 -19008 -37636 -67067 -97750 -127813 -162688 -161061 -194884 -192935 -191005 -223476
- Expense Items Paid: 0 -11260 -10300 -14567 -20867 -22857 -27450 -36018 -40797 -47414 -46714 -52830
= Closing A/P Balance: 30268 47936 81634 118617 150670 190138 197079 235681 240349 237719 276306 278344

INVENTORY:
Open Inventory: 7680 19008 37636 67067 97750 127813 162688 161061 194884 192935 191005 223476
+ Prod'n goods rec'd: 19008 37636 67067 97750 127813 162688 161061 194884 192935 191005 223476 223476
- Goods shipped: -7680 -19008 -37636 -67067 -97750 -127813 -162688 -161061 -194884 -192935 -191005 -223476
= Closing A/P Balance: 19008 37636 67067 97750 127813 162688 161061 194884 192935 191005 223476 223476

(note - month #12 is not entirely correct - to complete month#12, you need to have data for month#13, etc)

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