Excel Financial Sampel

Pay Load Financial Model
(in whole USD; assumes no inflation)

Year BASE YEAR
Quarter Q1 2019
Model logic correctly functioning. Dec-18 Jan-19
Background Assumptions
Payload Payload
Annual Nominal Interest Rate earned on Cash 0.5% 0.0%

Annual Nominal Interest Rate on Short-Term Debt 3.5% 0.3%
Annual Nominal Interest Rate on Long-Term Debt 5.5% 0.5%
Principal Payments on LTD as a % of LTD 0.0%
Federal Tax Rate 21.0%

State Tax Rate 9.0%
# of Days Sales Outstanding -

# of Days Payables Outstanding 30
# of Days Inventory Outstanding -
Average Useful Life of Gross PP&E in Years 5
User Growth (Number of download)

Customer Acquistion Cost
Investment and Revolver Assumptions
Starting Capital 400,000

Subsequent Investments -
Minimum # Months Payroll Needed in Cash 2

Minimum Cash 70,917
Personnel Assumptions
Senior Management Compensation Base Annual Salary Benefits %

CEO 150,000 15.0% 14,375
CTO 130,000 10.0% 11,917
CBO 100,000 10.0% 9,167
Total Senior Management Salaries & Benefits 35,458
Total Senior Management Headcount 3
Business Development Compensation Base Annual Salary Benefits %

Manager 60,000 15.0% -
Business Associate 40,000 10.0% -
Business Associate 40,000 10.0% -
Total Business Development Salaries & Benefits -
Total Business Development Headcount -
Sales Compensation (Driving Growth) Base Annual Salary Benefits %

Sales Manager 50,000 15.0% -
Salesman 40,000 10.0% -
Salesman 40,000 10.0% -
Total Salesperson Salaries & Benefits -
Total Sales Headcount -
Marketing Compensation Base Annual Salary Benefits %

Marketing Manager 85,000 15.0% -
Marketing Consultant 45,000 10.0% -
Marketing Consultant 45,000 10.0% -
Total Marketing Salaries & Benefits -
Total Marketing Headcount -
IT Compensation Base Annual Salary Benefits %

Developer 75,000 10.0% -
Developer 75,000 10.0% -
Developer 75,000 10.0% -
Total IT & Data Salaries & Benefits -
Total IT & Data Headcount -
Other Compensation Base Annual Salary Benefits %

Bookeeper 50,000 10.0% -
Support Agent 45,000 10.0% -
Non-Organic Driver 30,000 0.0% -
Total Other Salaries & Benefits -
Total Other Headcount -
Total Salaries & Benefits 35,458

Total Headcount 3
Income Statement
Revenue
Number of monthly request (Immidiate)

Number of monthly request (Flexible)
Number of monthly request(Scheduled)
User Growth / Month 10%
Average Revenue per request (Immidiate) 100 0
Average Revenue per request (Flexible) 75 0
Average Revenue per request (Scheduled) 50 0
Total Revenues -
Cost of Goods Sold

Driver Commission 70% -
Total Cost of Goods Sold -

% of Revenues 0.0%
Gross Income -
% of Revenues 0.0%
Sales & Marketing Expenses

Total Salesperson Salaries & Benefits -
Total Marketing Salaries & Benefits -
Digital Advertising
Public Relations and Communications (500)
Other Sales & Marketing Expenses (250)
Total Sales & Marketing Expenses (750)
% of Revenues 0.0%
General & Administrative Expenses
Total Senior Management Salaries & Benefits (35,458)
Total IT Salaries & Benefits -
Total Other Salaries & Benefits -
Rent Expenses (5,000)
Operating Expenses (800)
Server Rent (5,000)
Software Development (9,375)
Utilities (5,000)
Research and Development 2% -
Brokerage Fees 4% -
Total General & Administrative Expenses (60,633)
% of Revenues 0.0%
Depreciation Expense -
Total Operating Expenses (61,383)

Operating Income -
% of Revenues 0.0%
EBITDA -
% of Revenues 0.0%
Interest Expense -
Interest Income -
Pre-Tax Profit (Loss) -
% of Revenues 0.0%
Add (Subtract) to Tax Loss Carryforward 0

Taxable Income (Loss) -
Tax Expense -
Net Income -
% of Revenues 0.0%
Balance Sheet
Assets
Cash - 400,000
Accounts Receivable - -
Inventory - -
- 400,000
Gross PP&E - -
Accumulated Depreciation - -
Net PP&E - -
Intangibles - -
Total Assets - 400,000
Liabilities & Shareholder's Equity
Revolver (Short-Term Debt) - -

Accounts Payable - -
Total Current Liabilities - -
Long-Term Debt - -
Total Liabilities - -
Paid-in Capital - 400,000

Retained Earnings - -
Total Shareholder's Equity - 400,000
Total Liabilities & Shareholder's Equity - 400,000
Balance Sheet Check Ok Ok
Off-Balance Sheet Items

Tax Loss Carryforward - -
Cash Flow Statement
Cash Flow from (to) Operations

Net Income -
Depreciation Expense -
Change in A/R -
Change in A/P -
Change in Inventory -
Change in Intangibles -
Total Cash Flow from (to) Operations -
Cash Flow from (to) Investing

Workstations (Computers & Desks) -
Technology Equipment -
Other Miscellaneous Items -
Total Cash Flow from (to) Investing -
Cash Flow from (to) Financing

Revolver Issuance / (Repayment) -
Long-Term Debt Issuance / (Repayment) -
New Equity Investments 400,000
Dividends -
Total Cash Flow from (to) Financing 400,000
Beginning Cash -
Change in Cash 400,000
Ending Cash - 400,000
Debt
Cash Flow available for Financing -

New Equity Investments 400,000
Dividends -
Beginning Cash -
Minimum Cash (70,917)
Cash Flow available for Debt Repayment 329,083
Cash Flow available for Revolver Repayment 329,083
Long-Term Debt Beginning Balance -

Long-Term Debt Ending Balance - -
Long-Term Debt Interest Expense -
Revolver Beginning Balance -

Revolver Issuance / (Repayment) -
Revolver Ending Balance - -
Revolver Interest Expense -
Summary
Total Revenues -
Total Cost of Goods Sold -
Total Operating Expenses (61,383)
EBITDA -
Interest Expense -
Net Income -
Cash 400,000
Total Assets 400,000
Revolver (Short-Term Debt) -
Long-Term Debt -
Total Shareholder's Equity 400,000
Total Headcount 3
Total Salaries & Benefits 35,458
1st Year
Q1 2019 Q2 2019 Q3 2019
Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - 1,000,000 - -
70,917 70,917 70,917 74,583 78,250 78,250 78,250 78,250

14,375 14,375 14,375 14,375 14,375 14,375 14,375 14,375
11,917 11,917 11,917 11,917 11,917 11,917 11,917 11,917
9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167
35,458 35,458 35,458 35,458 35,458 35,458 35,458 35,458
3 3 3 3 3 3 3 3
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - 3,667 3,667 3,667 3,667
- - - - - - - -
- - - - 3,667 3,667 3,667 3,667
- - - - 1 1 1 1
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
35,458 35,458 35,458 35,458 39,125 39,125 39,125 39,125

3 3 3 3 4 4 4 4
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -
- - - - - - - -
- - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - (3,667) (3,667) (3,667) (3,667)

- - - - - - - -
(500) (500) (500) (500) (500) (500) (500) (500)

(250) (250) (250) (250) (250) (250) (250) (250)
(750) (750) (750) (750) (4,417) (4,417) (4,417) (4,417)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(35,458) (35,458) (35,458) (35,458) (35,458) (35,458) (35,458) (35,458)
- - - - - - - -
- - - - - - - -
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000)
(800) (800) (800) (800) (800) (800) (800) (800)
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000)
(9,375) (9,375) (9,375) (9,375) (9,375) (9,375) (9,375)
- - - - - - - -
- - - - - - - -
(55,633) (55,633) (55,633) (55,633) (55,633) (55,633) (55,633) (46,258)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - (25) (25) (25) (25)
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)

(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(56,383) (56,383) (56,383) (56,383) (60,050) (60,050) (60,050) (50,675)

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - -
- - - - - - - -
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
56,383 56,383 56,383 56,383 60,075 60,075 60,075 50,700

- - - - - - - -
- - - - - - - -
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142

- - - - - - - -
- - - - - - - -
343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142
- - - - 1,500 1,500 1,500 1,500

- - - - (25) (50) (75) (100)
- - - - 1,475 1,450 1,425 1,400
- - - - - - - -
343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
400,000 400,000 400,000 400,000 400,000 1,400,000 1,400,000 1,400,000

(56,383) (112,767) (169,150) (225,533) (285,608) (345,683) (405,758) (456,458)
343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542
343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542
Ok Ok Ok Ok Ok Ok Ok Ok
56,383 112,767 169,150 225,533 285,608 345,683 405,758 456,458
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)

- - - - 25 25 25 25
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
(56,383) (56,383) (56,383) (56,383) (60,050) (60,050) (60,050) (50,675)
- - - - (1,500) - - -
- - - - - - - -
- - - - - - - -
- - - - (1,500) - - -
- - - - - - - -
- - - - - - - -
- - - - - 1,000,000 - -
- - - - - - - -
- - - - - 1,000,000 - -
400,000 343,617 287,233 230,850 174,467 112,917 1,052,867 992,817
(56,383) (56,383) (56,383) (56,383) (61,550) 939,950 (60,050) (50,675)
343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142
(56,383) (56,383) (56,383) (56,383) (61,550) (60,050) (60,050) (50,675)

- - - - - 1,000,000 - -
- - - - - - - -
400,000 343,617 287,233 230,850 174,467 112,917 1,052,867 992,817
(70,917) (70,917) (70,917) (74,583) (78,250) (78,250) (78,250) (78,250)
272,700 216,317 159,933 99,883 34,667 974,617 914,567 863,892
- - - - - - - -
272,700 216,317 159,933 99,883 34,667 974,617 914,567 863,892
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)
(56,383) (56,383) (56,383) (56,383) (60,050) (60,050) (60,050) (50,675)
- - - - - - - -
(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)
343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142

343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542
- - - - - - - -
- - - - - - - -
343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542
3 3 3 3 4 4 4 4
35,458 35,458 35,458 35,458 39,125 39,125 39,125 39,125
2nd Yea
Q4 2019 Q1 2020 Q2 2020
Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
78,250 78,250 131,112 183,974 183,974 183,974 183,974 183,974

14,375 14,375 14,375 15,094 15,094 15,094 15,094 15,094
11,917 11,917 11,917 12,513 12,513 12,513 12,513 12,513
9,167 9,167 9,167 9,625 9,625 9,625 9,625 9,625
35,458 35,458 35,458 37,231 37,231 37,231 37,231 37,231
3 3 3 3 3 3 3 3
- - -
- - - 3,667 3,667 3,667 3,667 3,667
- - -
- - - 3,667 3,667 3,667 3,667 3,667
- - - 1 1 1 1 1
- - - 4,792 4,792 4,792 4,792 4,792

3,667 3,667 3,667 3,777 3,777 3,777 3,777 3,777
- - - 3,667 3,667 3,667 3,667 3,667
3,667 3,667 3,667 12,235 12,235 12,235 12,235 12,235
1 1 1 3 3 3 3 3
- - - 8,146 8,146 8,146 8,146 8,146

- - - 4,125 4,125 4,125 4,125 4,125
- - - 4,125 4,125 4,125 4,125 4,125
- - - 16,396 16,396 16,396 16,396 16,396
- - - 3 3 3 3 3
- - - 6,875 6,875 6,875 6,875 6,875

- - - 6,875 6,875 6,875 6,875 6,875
- - -
- - - 13,750 13,750 13,750 13,750 13,750
- - - 2 2 2 2 2
- - - 4,583 4,583 4,583 4,583 4,583

- - - 4,125 4,125 4,125 4,125 4,125
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 2,500 2,500 2,500 2,500 2,500
- - - 8,708 8,708 8,708 8,708 8,708
- - - 2 2 2 2 2
39,125 39,125 39,125 91,987 91,987 91,987 91,987 91,987

4 4 4 14 14 14 14 14
2,600 2,600 2,600 2,600 2,600

1,000 1,000 1,000 1,000 1,000
800 800 800 800 800
0 0 0 260000 260000 260000 260000 260000

0 0 0 75000 75000 75000 75000 75000
0 0 0 40000 40000 40000 40000 40000
- - - 375,000.00 375,000.00 375,000.00 375,000.00 375,000.00
- - - (262,500) (262,500) (262,500) (262,500) (262,500)
- - - (262,500) (262,500) (262,500) (262,500) (262,500)

0.0% 0.0% 0.0% 70.0% 70.0% 70.0% 70.0% 70.0%
- - - 112,500 112,500 112,500 112,500 112,500

0.0% 0.0% 0.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(3,667) (3,667) (3,667) (12,235) (12,235) (12,235) (12,235) (12,235)

- - - (16,396) (16,396) (16,396) (16,396) (16,396)
- - - - -
(500) (500) (500) (500) (500) (500) (500) (500)
(250) (250) (250) (250) (250) (250) (250) (250)
(4,417) (4,417) (4,417) (29,381) (29,381) (29,381) (29,381) (29,381)
0.0% 0.0% 0.0% 7.8% 7.8% 7.8% 7.8% 7.8%
(35,458) (35,458) (35,458) (37,231) (37,231) (37,231) (37,231) (37,231)
- - - (13,750) (13,750) (13,750) (13,750) (13,750)
- - - (8,708) (8,708) (8,708) (8,708) (8,708)
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000)
(800) (800) (800) (1,000) (1,000) (1,000) (1,000) (1,000)
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000)
- - - (7,500) (7,500) (7,500) (7,500) (7,500)

- - - (15,000) (15,000) (15,000) (15,000) (15,000)
(46,258) (46,258) (46,258) (93,190) (93,190) (93,190) (93,190) (93,190)
0.0% 0.0% 0.0% 24.9% 24.9% 24.9% 24.9% 24.9%
(25) (25) (25) (25) (25) (25) (25) (25)
(50,700) (50,700) (50,700) (122,595) (122,595) (122,595) (122,595) (122,595)

(50,700) (50,700) (50,700) (10,095) (10,095) (10,095) (10,095) (10,095)
0.0% 0.0% 0.0% (2.7%) (2.7%) (2.7%) (2.7%) (2.7%)
(50,675) (50,675) (50,675) (10,070) (10,070) (10,070) (10,070) (10,070)

0.0% 0.0% 0.0% (2.7%) (2.7%) (2.7%) (2.7%) (2.7%)
- - - - - - - -
- - - - - - - -
(50,700) (50,700) (50,700) (10,095) (10,095) (10,095) (10,095) (10,095)
0.0% 0.0% 0.0% (2.7%) (2.7%) (2.7%) (2.7%) (2.7%)
50,700 50,700 50,700 10,095 10,095 10,095 10,095 10,095

- - - - - - - -
- - - - - - - -
(50,700) (50,700) (50,700) (10,095) (10,095) (10,095) (10,095) (10,095)
0.0% 0.0% 0.0% (2.7%) (2.7%) (2.7%) (2.7%) (2.7%)
891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335 1,002,265

- - - - - - - -
- - - - - - - -
891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335 1,002,265
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(125) (150) (175) (200) (225) (250) (275) (300)
1,375 1,350 1,325 1,300 1,275 1,250 1,225 1,200
- - - - - - - -
892,842 842,142 791,442 1,043,846 1,033,751 1,023,655 1,013,560 1,003,465
- - - - - - - -
- - - 262,500 262,500 262,500 262,500 262,500
- - - 262,500 262,500 262,500 262,500 262,500
- - - - - - - -
- - - 262,500 262,500 262,500 262,500 262,500
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

(507,158) (557,858) (608,558) (618,654) (628,749) (638,845) (648,940) (659,035)
892,842 842,142 791,442 781,346 771,251 761,155 751,060 740,965
892,842 842,142 791,442 1,043,846 1,033,751 1,023,655 1,013,560 1,003,465
507,158 557,858 608,558 618,654 628,749 638,845 648,940 659,035
(50,700) (50,700) (50,700) (10,095) (10,095) (10,095) (10,095) (10,095)

25 25 25 25 25 25 25 25
- - - - - - - -
- - - 262,500 - - - -
- - - - - - - -
- - - - - - - -
(50,675) (50,675) (50,675) 252,430 (10,070) (10,070) (10,070) (10,070)
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
942,142 891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335
(50,675) (50,675) (50,675) 252,430 (10,070) (10,070) (10,070) (10,070)
891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335 1,002,265
(50,675) (50,675) (50,675) 252,430 (10,070) (10,070) (10,070) (10,070)

- - - - - - - -
- - - - - - - -
942,142 891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335
(78,250) (78,250) (131,112) (183,974) (183,974) (183,974) (183,974) (183,974)
813,217 762,542 659,005 858,572 848,502 838,431 828,361 818,290
- - - - - - - -
813,217 762,542 659,005 858,572 848,502 838,431 828,361 818,290
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - 375,000 375,000 375,000 375,000 375,000

- - - (262,500) (262,500) (262,500) (262,500) (262,500)
(50,700) (50,700) (50,700) (122,595) (122,595) (122,595) (122,595) (122,595)
(50,675) (50,675) (50,675) (10,070) (10,070) (10,070) (10,070) (10,070)
- - - - - - - -
(50,700) (50,700) (50,700) (10,095) (10,095) (10,095) (10,095) (10,095)
891,467 840,792 790,117 1,042,546 1,032,476 1,022,405 1,012,335 1,002,265

892,842 842,142 791,442 1,043,846 1,033,751 1,023,655 1,013,560 1,003,465
- - - - - - - -
- - - - - - - -
892,842 842,142 791,442 781,346 771,251 761,155 751,060 740,965
4 4 4 14 14 14 14 14
39,125 39,125 39,125 91,987 91,987 91,987 91,987 91,987
2nd Year
2 2020 Q3 2020 Q4 2020 Q1 2021
Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
183,974 183,974 183,974 183,974 183,974 183,974 196,895 209,816

15,094 15,094 15,094 15,094 15,094 15,094 15,094 15,848
12,513 12,513 12,513 12,513 12,513 12,513 12,513 13,138
9,625 9,625 9,625 9,625 9,625 9,625 9,625 10,106
37,231 37,231 37,231 37,231 37,231 37,231 37,231 39,093
3 3 3 3 3 3 3 3
5,750
3,667 3,667 3,667 3,667 3,667 3,667 3,667 3,777
3,667
3,667 3,667 3,667 3,667 3,667 3,667 3,667 13,193
1 1 1 1 1 1 1 3
4,792 4,792 4,792 4,792 4,792 4,792 4,792 4,935

3,777 3,777 3,777 3,777 3,777 3,777 3,777 3,890
3,667 3,667 3,667 3,667 3,667 3,667 3,667 3,777
12,235 12,235 12,235 12,235 12,235 12,235 12,235 12,602
3 3 3 3 3 3 3 3
8,146 8,146 8,146 8,146 8,146 8,146 8,146 8,390

4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,249
4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,249
16,396 16,396 16,396 16,396 16,396 16,396 16,396 16,888
3 3 3 3 3 3 3 3
6,875 6,875 6,875 6,875 6,875 6,875 6,875 7,081

6,875 6,875 6,875 6,875 6,875 6,875 6,875 7,081
13,750 13,750 13,750 13,750 13,750 13,750 13,750 14,163

2 2 2 2 2 2 2 2
4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,721

4,125 4,125 4,125 4,125 4,125 4,125 4,125 4,249
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
2,500 2,500 2,500 2,500 2,500 2,500 2,500 -
8,708 8,708 8,708 8,708 8,708 8,708 8,708 8,970
2 2 2 2 2 2 2 2
91,987 91,987 91,987 91,987 91,987 91,987 91,987 104,908

14 14 14 14 14 14 14 16
2,600 2,600 2,600 2,600 2,600 2,600 2,600 5,200

1,000 1,000 1,000 1,000 1,000 1,000 1,000 2,000
800 800 800 800 800 800 800 1,600
260000 260000 260000 260000 260000 260000 260000 520000

75000 75000 75000 75000 75000 75000 75000 150000
40000 40000 40000 40000 40000 40000 40000 80000
375,000.00 375,000.00 375,000.00 375,000.00 375,000.00 375,000.00 375,000.00 750,000.00
(262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (525,000)
(262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (525,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
112,500 112,500 112,500 112,500 112,500 112,500 112,500 225,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(12,235) (12,235) (12,235) (12,235) (12,235) (12,235) (12,235) (12,602)

(16,396) (16,396) (16,396) (16,396) (16,396) (16,396) (16,396) (16,888)
- - - - - - - (750)
(500) (500) (500) (500) (500) (500) (500) (1,000)
(250) (250) (250) (250) (250) (250) (250) (750)
(29,381) (29,381) (29,381) (29,381) (29,381) (29,381) (29,381) (31,990)
7.8% 7.8% 7.8% 7.8% 7.8% 7.8% 7.8% 4.3%
(37,231) (37,231) (37,231) (37,231) (37,231) (37,231) (37,231) (39,093)
(13,750) (13,750) (13,750) (13,750) (13,750) (13,750) (13,750) (14,163)
(8,708) (8,708) (8,708) (8,708) (8,708) (8,708) (8,708) (8,970)
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (10,000)
(1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,250)
(5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (5,000) (7,000)
(7,500) (7,500) (7,500) (7,500) (7,500) (7,500) (7,500) (15,000)

(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (30,000)
(93,190) (93,190) (93,190) (93,190) (93,190) (93,190) (93,190) (125,475)
24.9% 24.9% 24.9% 24.9% 24.9% 24.9% 24.9% 16.7%
(25) (25) (25) (25) (25) (25) (25) (25)
(122,595) (122,595) (122,595) (122,595) (122,595) (122,595) (122,595) (157,490)

(10,095) (10,095) (10,095) (10,095) (10,095) (10,095) (10,095) 67,510
(2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) 9.0%
(10,070) (10,070) (10,070) (10,070) (10,070) (10,070) (10,070) 67,535

(2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) 9.0%
- - - - - - - -
- - - - - - - -
(10,095) (10,095) (10,095) (10,095) (10,095) (10,095) (10,095) 67,510
(2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) 9.0%
10,095 10,095 10,095 10,095 10,095 10,095 10,095 (67,510)

- - - - - - - -
- - - - - - - -
(10,095) (10,095) (10,095) (10,095) (10,095) (10,095) (10,095) 67,510
(2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) (2.7%) 9.0%
992,194 982,124 972,053 961,983 951,913 941,842 931,772 1,261,807

- - - - - - - -
- - - - - - - -
992,194 982,124 972,053 961,983 951,913 941,842 931,772 1,261,807
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(325) (350) (375) (400) (425) (450) (475) (500)
1,175 1,150 1,125 1,100 1,075 1,050 1,025 1,000
- - - - - - - -
993,369 983,274 973,178 963,083 952,988 942,892 932,797 1,262,807
- - - - - - - -
262,500 262,500 262,500 262,500 262,500 262,500 262,500 525,000
262,500 262,500 262,500 262,500 262,500 262,500 262,500 525,000
- - - - - - - -
262,500 262,500 262,500 262,500 262,500 262,500 262,500 525,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

(669,131) (679,226) (689,322) (699,417) (709,513) (719,608) (729,703) (662,193)
730,869 720,774 710,678 700,583 690,488 680,392 670,297 737,807
993,369 983,274 973,178 963,083 952,988 942,892 932,797 1,262,807
669,131 679,226 689,322 699,417 709,513 719,608 729,703 662,193
(10,095) (10,095) (10,095) (10,095) (10,095) (10,095) (10,095) 67,510

25 25 25 25 25 25 25 25
- - - - - - - -
- - - - - - - 262,500
- - - - - - - -
- - - - - - - -
(10,070) (10,070) (10,070) (10,070) (10,070) (10,070) (10,070) 330,035
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,002,265 992,194 982,124 972,053 961,983 951,913 941,842 931,772
(10,070) (10,070) (10,070) (10,070) (10,070) (10,070) (10,070) 330,035
992,194 982,124 972,053 961,983 951,913 941,842 931,772 1,261,807
(10,070) (10,070) (10,070) (10,070) (10,070) (10,070) (10,070) 330,035

- - - - - - - -
- - - - - - - -
1,002,265 992,194 982,124 972,053 961,983 951,913 941,842 931,772
(183,974) (183,974) (183,974) (183,974) (183,974) (183,974) (196,895) (209,816)
808,220 798,150 788,079 778,009 767,938 757,868 734,877 1,051,991
- - - - - - - -
808,220 798,150 788,079 778,009 767,938 757,868 734,877 1,051,991
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
375,000 375,000 375,000 375,000 375,000 375,000 375,000 750,000

(262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (262,500) (525,000)
(122,595) (122,595) (122,595) (122,595) (122,595) (122,595) (122,595) (157,490)
(10,070) (10,070) (10,070) (10,070) (10,070) (10,070) (10,070) 67,535
- - - - - - - -
(10,095) (10,095) (10,095) (10,095) (10,095) (10,095) (10,095) 67,510
992,194 982,124 972,053 961,983 951,913 941,842 931,772 1,261,807

993,369 983,274 973,178 963,083 952,988 942,892 932,797 1,262,807
- - - - - - - -
- - - - - - - -
730,869 720,774 710,678 700,583 690,488 680,392 670,297 737,807
14 14 14 14 14 14 14 16
91,987 91,987 91,987 91,987 91,987 91,987 91,987 104,908
3rd Year
Q1 2021 Q2 2021 Q3 2021
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
209,816 209,816 209,816 209,816 209,816 209,816 209,816 209,816

15,848 15,848 15,848 15,848 15,848 15,848 15,848 15,848
13,138 13,138 13,138 13,138 13,138 13,138 13,138 13,138
10,106 10,106 10,106 10,106 10,106 10,106 10,106 10,106
39,093 39,093 39,093 39,093 39,093 39,093 39,093 39,093
3 3 3 3 3 3 3 3
5,750 5,750 5,750 5,750 5,750 5,750 5,750 5,750

3,777 3,777 3,777 3,777 3,777 3,777 3,777 3,777
3,667 3,667 3,667 3,667 3,667 3,667 3,667 3,667
13,193 13,193 13,193 13,193 13,193 13,193 13,193 13,193
3 3 3 3 3 3 3 3
4,935 4,935 4,935 4,935 4,935 4,935 4,935 4,935

3,890 3,890 3,890 3,890 3,890 3,890 3,890 3,890
3,777 3,777 3,777 3,777 3,777 3,777 3,777 3,777
12,602 12,602 12,602 12,602 12,602 12,602 12,602 12,602
3 3 3 3 3 3 3 3
8,390 8,390 8,390 8,390 8,390 8,390 8,390 8,390

4,249 4,249 4,249 4,249 4,249 4,249 4,249 4,249
4,249 4,249 4,249 4,249 4,249 4,249 4,249 4,249
16,888 16,888 16,888 16,888 16,888 16,888 16,888 16,888
3 3 3 3 3 3 3 3
7,081 7,081 7,081 7,081 7,081 7,081 7,081 7,081

7,081 7,081 7,081 7,081 7,081 7,081 7,081 7,081
14,163 14,163 14,163 14,163 14,163 14,163 14,163 14,163

2 2 2 2 2 2 2 2
4,721 4,721 4,721 4,721 4,721 4,721 4,721 4,721

4,249 4,249 4,249 4,249 4,249 4,249 4,249 4,249
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
8,970 8,970 8,970 8,970 8,970 8,970 8,970 8,970
2 2 2 2 2 2 2 2
104,908 104,908 104,908 104,908 104,908 104,908 104,908 104,908

16 16 16 16 16 16 16 16
5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200

2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000
1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600
520000 520000 520000 520000 520000 520000 520000 520000

150000 150000 150000 150000 150000 150000 150000 150000
80000 80000 80000 80000 80000 80000 80000 80000
750,000.00 750,000.00 750,000.00 750,000.00 750,000.00 750,000.00 750,000.00 750,000.00
(525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000)
(525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
225,000 225,000 225,000 225,000 225,000 225,000 225,000 225,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(12,602) (12,602) (12,602) (12,602) (12,602) (12,602) (12,602) (12,602)

(16,888) (16,888) (16,888) (16,888) (16,888) (16,888) (16,888) (16,888)
(750) (750) (750) (750) (750) (750) (750) (750)
(1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000)
(750) (750) (750) (750) (750) (750) (750) (750)
(31,990) (31,990) (31,990) (31,990) (31,990) (31,990) (31,990) (31,990)
4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3%
(39,093) (39,093) (39,093) (39,093) (39,093) (39,093) (39,093) (39,093)
(14,163) (14,163) (14,163) (14,163) (14,163) (14,163) (14,163) (14,163)
(8,970) (8,970) (8,970) (8,970) (8,970) (8,970) (8,970) (8,970)
(10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000)
(1,250) (1,250) (1,250) (1,250) (1,250) (1,250) (1,250) (1,250)
(7,000) (7,000) (7,000) (7,000) (7,000) (7,000) (7,000) (7,000)
(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)

(30,000) (30,000) (30,000) (30,000) (30,000) (30,000) (30,000) (30,000)
(125,475) (125,475) (125,475) (125,475) (125,475) (125,475) (125,475) (125,475)
16.7% 16.7% 16.7% 16.7% 16.7% 16.7% 16.7% 16.7%
(25) (25) (25) (25) (25) (25) (25) (25)
(157,490) (157,490) (157,490) (157,490) (157,490) (157,490) (157,490) (157,490)

67,510 67,510 67,510 67,510 67,510 67,510 67,510 67,510
9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
67,535 67,535 67,535 67,535 67,535 67,535 67,535 67,535

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
- - - - - - - -
67,510 67,510 67,510 67,510 67,510 67,510 67,510 67,510
9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
(67,510) (67,510) (67,510) (67,510) (67,510) (67,510) (67,510) (67,510)

- - - - - - - -
- - - - - - - -
67,510 67,510 67,510 67,510 67,510 67,510 67,510 67,510
9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554 1,802,090

- - - - - - - -
- - - - - - - -
1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554 1,802,090
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(525) (550) (575) (600) (625) (650) (675) (700)
975 950 925 900 875 850 825 800
- - - - - - - -
1,330,317 1,397,828 1,465,338 1,532,848 1,600,359 1,667,869 1,735,379 1,802,890
- - - - - - - -
525,000 525,000 525,000 525,000 525,000 525,000 525,000 525,000
525,000 525,000 525,000 525,000 525,000 525,000 525,000 525,000
- - - - - - - -
525,000 525,000 525,000 525,000 525,000 525,000 525,000 525,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

(594,683) (527,172) (459,662) (392,152) (324,641) (257,131) (189,621) (122,110)
805,317 872,828 940,338 1,007,848 1,075,359 1,142,869 1,210,379 1,277,890
1,330,317 1,397,828 1,465,338 1,532,848 1,600,359 1,667,869 1,735,379 1,802,890
594,683 527,172 459,662 392,152 324,641 257,131 189,621 122,110
67,510 67,510 67,510 67,510 67,510 67,510 67,510 67,510

25 25 25 25 25 25 25 25
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
67,535 67,535 67,535 67,535 67,535 67,535 67,535 67,535
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,261,807 1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554
67,535 67,535 67,535 67,535 67,535 67,535 67,535 67,535
1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554 1,802,090
67,535 67,535 67,535 67,535 67,535 67,535 67,535 67,535

- - - - - - - -
- - - - - - - -
1,261,807 1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554
(209,816) (209,816) (209,816) (209,816) (209,816) (209,816) (209,816) (209,816)
1,119,526 1,187,062 1,254,597 1,322,132 1,389,668 1,457,203 1,524,738 1,592,274
- - - - - - - -
1,119,526 1,187,062 1,254,597 1,322,132 1,389,668 1,457,203 1,524,738 1,592,274
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000

(525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000) (525,000)
(157,490) (157,490) (157,490) (157,490) (157,490) (157,490) (157,490) (157,490)
67,535 67,535 67,535 67,535 67,535 67,535 67,535 67,535
- - - - - - - -
67,510 67,510 67,510 67,510 67,510 67,510 67,510 67,510
1,329,342 1,396,878 1,464,413 1,531,948 1,599,484 1,667,019 1,734,554 1,802,090

1,330,317 1,397,828 1,465,338 1,600,359 1,667,869 1,735,379 1,802,890
- - - - - - - -
- - - - - - - -
805,317 872,828 940,338 1,007,848 1,075,359 1,142,869 1,210,379 1,277,890
16 16 16 16 16 16 16 16
104,908 104,908 104,908 104,908 104,908 104,908 104,908 104,908
4th Yea
Q4 2021 Q1 2022 Q2 2022
Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - -
209,816 209,816 213,745 217,674 217,451 217,228 217,228 217,228

15,848 15,848 15,848 16,641 16,641 16,641 16,641 16,641
13,138 13,138 13,138 13,795 13,795 13,795 13,795 13,795
10,106 10,106 10,106 10,612 10,612 10,612 10,612 10,612
39,093 39,093 39,093 41,047 41,047 41,047 41,047 41,047
3 3 3 3 3 3 3 3
5,750 5,750 5,750 5,923 5,923 5,923 5,923 5,923

3,777 3,777 3,777 3,890 3,890 3,667 3,667 3,667
3,667 3,667 3,667 3,777 3,777 3,777 3,777 3,777
13,193 13,193 13,193 13,589 13,589 13,366 13,366 13,366
3 3 3 3 3 3 3 3
4,935 4,935 4,935 5,083 5,083 5,083 5,083 5,083

3,890 3,890 3,890 4,007 4,007 4,007 4,007 4,007
3,777 3,777 3,777 3,890 3,890 3,890 3,890 3,890
12,602 12,602 12,602 12,980 12,980 12,980 12,980 12,980
3 3 3 3 3 3 3 3
8,390 8,390 8,390 8,642 8,642 8,642 8,642 8,642

4,249 4,249 4,249 4,376 4,376 4,376 4,376 4,376
4,249 4,249 4,249 4,376 4,376 4,376 4,376 4,376
16,888 16,888 16,888 17,394 17,394 17,394 17,394 17,394
3 3 3 3 3 3 3 3
7,081 7,081 7,081 7,294 7,294 7,294 7,294 7,294

7,081 7,081 7,081 7,294 7,294 7,294 7,294 7,294
14,163 14,163 14,163 14,587 14,587 14,587 14,587 14,587

2 2 2 2 2 2 2 2
4,721 4,721 4,721 4,862 4,862 4,862 4,862 4,862

4,249 4,249 4,249 4,376 4,376 4,376 4,376 4,376
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
8,970 8,970 8,970 9,239 9,239 9,239 9,239 9,239
2 2 2 2 2 2 2 2
104,908 104,908 104,908 108,837 108,837 108,614 108,614 108,614

16 16 16 16 16 16 16 16
5,200 5,200 5,200 10,400 10,400 10,400 10,400 10,400

2,000 2,000 2,000 4,000 4,000 4,000 4,000 4,000
1,600 1,600 1,600 3,200 3,200 3,200 3,200 3,200
520000 520000 520000 1040000 1040000 1040000 1040000 1040000

150000 150000 150000 300000 300000 300000 300000 300000
80000 80000 80000 160000 160000 160000 160000 160000
750,000.00 750,000.00 750,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00
(525,000) (525,000) (525,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000)
(525,000) (525,000) (525,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
225,000 225,000 225,000 450,000 450,000 450,000 450,000 450,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(12,602) (12,602) (12,602) (12,980) (12,980) (12,980) (12,980) (12,980)

(16,888) (16,888) (16,888) (17,394) (17,394) (17,394) (17,394) (17,394)
(750) (750) (750) (750) (750) (750) (750) (750)
(1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000)
(750) (750) (750) (750) (750) (750) (750) (750)
(31,990) (31,990) (31,990) (32,874) (32,874) (32,874) (32,874) (32,874)
4.3% 4.3% 4.3% 2.2% 2.2% 2.2% 2.2% 2.2%
(39,093) (39,093) (39,093) (41,047) (41,047) (41,047) (41,047) (41,047)
(14,163) (14,163) (14,163) (14,587) (14,587) (14,587) (14,587) (14,587)
(8,970) (8,970) (8,970) (9,239) (9,239) (9,239) (9,239) (9,239)
(10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000)
(1,250) (1,250) (1,250) (1,500) (1,500) (1,500) (1,500) (1,500)
(7,000) (7,000) (7,000) (10,000) (10,000) (10,000) (10,000) (10,000)
(15,000) (15,000) (15,000) (30,000) (30,000) (30,000) (30,000) (30,000)

(30,000) (30,000) (30,000) (60,000) (60,000) (60,000) (60,000) (60,000)
(125,475) (125,475) (125,475) (176,373) (176,373) (176,373) (176,373) (176,373)
16.7% 16.7% 16.7% 11.8% 11.8% 11.8% 11.8% 11.8%
(25) (25) (25) (25) (25) (25) (25) (25)
(157,490) (157,490) (157,490) (209,273) (209,273) (209,273) (209,273) (209,273)

67,510 67,510 67,510 240,727 240,727 240,727 240,727 240,727
9.0% 9.0% 9.0% 16.0% 16.0% 16.0% 16.0% 16.0%
67,535 67,535 67,535 240,752 240,752 240,752 240,752 240,752

9.0% 9.0% 9.0% 16.1% 16.1% 16.1% 16.1% 16.1%
- - - - - - - -
- - - - - - - -
67,510 67,510 67,510 240,727 240,727 240,727 240,727 240,727
9.0% 9.0% 9.0% 16.0% 16.0% 16.0% 16.0% 16.0%
(67,510) (54,600) - - - - - -
- 12,910 67,510 240,727 240,727 240,727 240,727 240,727
- (3,873) (20,253) (72,218) (72,218) (72,218) (72,218) (72,218)
67,510 63,637 47,257 168,509 168,509 168,509 168,509 168,509
9.0% 8.5% 6.3% 11.2% 11.2% 11.2% 11.2% 11.2%
1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705 3,348,239

- - - - - - - -
- - - - - - - -
1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705 3,348,239
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(725) (750) (775) (800) (825) (850) (875) (900)
775 750 725 700 675 650 625 600
- - - - - - - -
1,870,400 1,934,037 1,981,295 2,674,804 2,843,312 3,011,821 3,180,330 3,348,839
- - - - - - - -
525,000 525,000 525,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000
525,000 525,000 525,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000
- - - - - - - -
525,000 525,000 525,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

(54,600) 9,037 56,295 224,804 393,312 561,821 730,330 898,839
1,345,400 1,409,037 1,456,295 1,624,804 1,793,312 1,961,821 2,130,330 2,298,839
1,870,400 1,934,037 1,981,295 2,674,804 2,843,312 3,011,821 3,180,330 3,348,839
54,600 - - - - - - -
67,510 63,637 47,257 168,509 168,509 168,509 168,509 168,509

25 25 25 25 25 25 25 25
- - - - - - - -
- - - 525,000 - - - -
- - - - - - - -
- - - - - - - -
67,535 63,662 47,282 693,534 168,534 168,534 168,534 168,534
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,802,090 1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705
67,535 63,662 47,282 693,534 168,534 168,534 168,534 168,534
1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705 3,348,239
67,535 63,662 47,282 693,534 168,534 168,534 168,534 168,534

- - - - - - - -
- - - - - - - -
1,802,090 1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705
(209,816) (209,816) (213,745) (217,674) (217,451) (217,228) (217,228) (217,228)
1,659,809 1,723,471 1,766,825 2,456,429 2,625,187 2,793,944 2,962,478 3,131,012
- - - - - - - -
1,659,809 1,723,471 1,766,825 2,456,429 2,625,187 2,793,944 2,962,478 3,131,012
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
750,000 750,000 750,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000

(525,000) (525,000) (525,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000)
(157,490) (157,490) (157,490) (209,273) (209,273) (209,273) (209,273) (209,273)
67,535 67,535 67,535 240,752 240,752 240,752 240,752 240,752
- - - - - - - -
67,510 63,637 47,257 168,509 168,509 168,509 168,509 168,509
1,869,625 1,933,287 1,980,570 2,674,104 2,842,637 3,011,171 3,179,705 3,348,239

1,870,400 1,934,037 1,981,295 2,674,804 2,843,312 3,011,821 3,180,330 3,348,839
- - - - - - - -
- - - - - - - -
1,345,400 1,409,037 1,456,295 1,624,804 1,793,312 1,961,821 2,130,330 2,298,839
16 16 16 16 16 16 16 16
104,908 104,908 104,908 108,837 108,837 108,614 108,614 108,614
4th Year
2 2022 Q3 2022 Q4 2022 Q1 2023
Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
217,228 217,228 217,228 217,228 217,228 217,228 228,182 239,136

16,641 16,641 16,641 16,641 16,641 16,641 16,641 17,473
13,795 13,795 13,795 13,795 13,795 13,795 13,795 14,485
10,612 10,612 10,612 10,612 10,612 10,612 10,612 11,142
41,047 41,047 41,047 41,047 41,047 41,047 41,047 43,100
3 3 3 3 3 3 3 3
5,923 5,923 5,923 5,923 5,923 5,923 5,923 6,100

3,667 3,667 3,667 3,667 3,667 3,667 3,667 3,777
3,777 3,777 3,777 3,777 3,777 3,777 3,777 3,890
13,366 13,366 13,366 13,366 13,366 13,366 13,366 13,767
3 3 3 3 3 3 3 3
5,083 5,083 5,083 5,083 5,083 5,083 5,083 5,236

4,007 4,007 4,007 4,007 4,007 4,007 4,007 4,127
3,890 3,890 3,890 3,890 3,890 3,890 3,890 4,007
12,980 12,980 12,980 12,980 12,980 12,980 12,980 13,370
3 3 3 3 3 3 3 3
8,642 8,642 8,642 8,642 8,642 8,642 8,642 8,901

4,376 4,376 4,376 4,376 4,376 4,376 4,376 4,507
4,376 4,376 4,376 4,376 4,376 4,376 4,376 4,507
17,394 17,394 17,394 17,394 17,394 17,394 17,394 17,916
3 3 3 3 3 3 3 3
7,294 7,294 7,294 7,294 7,294 7,294 7,294 7,512

7,294 7,294 7,294 7,294 7,294 7,294 7,294 7,512
6,875
14,587 14,587 14,587 14,587 14,587 14,587 14,587 21,900
2 2 2 2 2 2 2 3
4,862 4,862 4,862 4,862 4,862 4,862 4,862 5,008

4,376 4,376 4,376 4,376 4,376 4,376 4,376 4,507
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
9,239 9,239 9,239 9,239 9,239 9,239 9,239 9,516
2 2 2 2 2 2 2 2
108,614 108,614 108,614 108,614 108,614 108,614 108,614 119,568

16 16 16 16 16 16 16 17
10,400 10,400 10,400 10,400 10,400 10,400 10,400 20,800

4,000 4,000 4,000 4,000 4,000 4,000 4,000 8,000
3,200 3,200 3,200 3,200 3,200 3,200 3,200 6,400
1040000 1040000 1040000 1040000 1040000 1040000 1040000 2080000

300000 300000 300000 300000 300000 300000 300000 600000
160000 160000 160000 160000 160000 160000 160000 320000
1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 3,000,000.00
(1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (2,100,000)
(1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (2,100,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
450,000 450,000 450,000 450,000 450,000 450,000 450,000 900,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(12,980) (12,980) (12,980) (12,980) (12,980) (12,980) (12,980) (13,370)

(17,394) (17,394) (17,394) (17,394) (17,394) (17,394) (17,394) (17,916)
(750) (750) (750) (750) (750) (750) (750) (750)
(1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000)
(750) (750) (750) (750) (750) (750) (750) (750)
(32,874) (32,874) (32,874) (32,874) (32,874) (32,874) (32,874) (33,786)
2.2% 2.2% 2.2% 2.2% 2.2% 2.2% 2.2% 1.1%
(41,047) (41,047) (41,047) (41,047) (41,047) (41,047) (41,047) (43,100)
(14,587) (14,587) (14,587) (14,587) (14,587) (14,587) (14,587) (21,900)
(9,239) (9,239) (9,239) (9,239) (9,239) (9,239) (9,239) (9,516)
(10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (15,000)
(1,500) (1,500) (1,500) (1,500) (1,500) (1,500) (1,500) (1,750)
(10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (15,000)
(30,000) (30,000) (30,000) (30,000) (30,000) (30,000) (30,000) (60,000)

(60,000) (60,000) (60,000) (60,000) (60,000) (60,000) (60,000) (120,000)
(176,373) (176,373) (176,373) (176,373) (176,373) (176,373) (176,373) (286,266)
11.8% 11.8% 11.8% 11.8% 11.8% 11.8% 11.8% 9.5%
(25) (25) (25) (25) (25) (25) (25) (25)
(209,273) (209,273) (209,273) (209,273) (209,273) (209,273) (209,273) (320,076)

240,727 240,727 240,727 240,727 240,727 240,727 240,727 579,924
16.0% 16.0% 16.0% 16.0% 16.0% 16.0% 16.0% 19.3%
240,752 240,752 240,752 240,752 240,752 240,752 240,752 579,949

16.1% 16.1% 16.1% 16.1% 16.1% 16.1% 16.1% 19.3%
- - - - - - - -
- - - - - - - -
240,727 240,727 240,727 240,727 240,727 240,727 240,727 579,924
16.0% 16.0% 16.0% 16.0% 16.0% 16.0% 16.0% 19.3%
- - - - - - - -
240,727 240,727 240,727 240,727 240,727 240,727 240,727 579,924
(72,218) (72,218) (72,218) (72,218) (72,218) (72,218) (72,218) (173,977)
168,509 168,509 168,509 168,509 168,509 168,509 168,509 405,947
11.2% 11.2% 11.2% 11.2% 11.2% 11.2% 11.2% 13.5%
3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977 5,983,948

- - - - - - - -
- - - - - - - -
3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977 5,983,948
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(925) (950) (975) (1,000) (1,025) (1,050) (1,075) (1,100)
575 550 525 500 475 450 425 400
- - - - - - - -
3,517,348 3,685,857 3,854,366 4,022,875 4,191,384 4,359,893 4,528,402 5,984,348
- - - - - - - -
1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 2,100,000
1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 2,100,000
- - - - - - - -
1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 1,050,000 2,100,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

1,067,348 1,235,857 1,404,366 1,572,875 1,741,384 1,909,893 2,078,402 2,484,348
2,467,348 2,635,857 2,804,366 2,972,875 3,141,384 3,309,893 3,478,402 3,884,348
3,517,348 3,685,857 3,854,366 4,022,875 4,191,384 4,359,893 4,528,402 5,984,348
- - - - - - - -
168,509 168,509 168,509 168,509 168,509 168,509 168,509 405,947

25 25 25 25 25 25 25 25
- - - - - - - -
- - - - - - - 1,050,000
- - - - - - - -
- - - - - - - -
168,534 168,534 168,534 168,534 168,534 168,534 168,534 1,455,972
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
3,348,239 3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977
168,534 168,534 168,534 168,534 168,534 168,534 168,534 1,455,972
3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977 5,983,948
168,534 168,534 168,534 168,534 168,534 168,534 168,534 1,455,972

- - - - - - - -
- - - - - - - -
3,348,239 3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977
(217,228) (217,228) (217,228) (217,228) (217,228) (217,228) (228,182) (239,136)
3,299,546 3,468,080 3,636,613 3,805,147 3,973,681 4,142,215 4,299,795 5,744,812
- - - - - - - -
3,299,546 3,468,080 3,636,613 3,805,147 3,973,681 4,142,215 4,299,795 5,744,812
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 3,000,000

(1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (1,050,000) (2,100,000)
(209,273) (209,273) (209,273) (209,273) (209,273) (209,273) (209,273) (320,076)
240,752 240,752 240,752 240,752 240,752 240,752 240,752 579,949
- - - - - - - -
168,509 168,509 168,509 168,509 168,509 168,509 168,509 405,947
3,516,773 3,685,307 3,853,841 4,022,375 4,190,909 4,359,443 4,527,977 5,983,948

3,517,348 3,685,857 3,854,366 4,022,875 4,191,384 4,359,893 4,528,402 5,984,348
- - - - - - - -
- - - - - - - -
2,467,348 2,635,857 2,804,366 2,972,875 3,141,384 3,309,893 3,478,402 3,884,348
16 16 16 16 16 16 16 17
108,614 108,614 108,614 108,614 108,614 108,614 108,614 119,568
5th Year
Q1 2023 Q2 2023 Q3 2023
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
239,136 239,136 239,136 239,136 239,136 239,136 239,136 239,136

17,473 17,473 17,473 17,473 17,473 17,473 17,473 17,473
14,485 14,485 14,485 14,485 14,485 14,485 14,485 14,485
11,142 11,142 11,142 11,142 11,142 11,142 11,142 11,142
43,100 43,100 43,100 43,100 43,100 43,100 43,100 43,100
3 3 3 3 3 3 3 3
6,100 6,100 6,100 6,100 6,100 6,100 6,100 6,100

3,777 3,777 3,777 3,777 3,777 3,777 3,777 3,777
3,890 3,890 3,890 3,890 3,890 3,890 3,890 3,890
13,767 13,767 13,767 13,767 13,767 13,767 13,767 13,767
3 3 3 3 3 3 3 3
5,236 5,236 5,236 5,236 5,236 5,236 5,236 5,236

4,127 4,127 4,127 4,127 4,127 4,127 4,127 4,127
4,007 4,007 4,007 4,007 4,007 4,007 4,007 4,007
13,370 13,370 13,370 13,370 13,370 13,370 13,370 13,370
3 3 3 3 3 3 3 3
8,901 8,901 8,901 8,901 8,901 8,901 8,901 8,901

4,507 4,507 4,507 4,507 4,507 4,507 4,507 4,507
4,507 4,507 4,507 4,507 4,507 4,507 4,507 4,507
17,916 17,916 17,916 17,916 17,916 17,916 17,916 17,916
3 3 3 3 3 3 3 3
7,512 7,512 7,512 7,512 7,512 7,512 7,512 7,512

7,512 7,512 7,512 7,512 7,512 7,512 7,512 7,512
6,875 6,875 6,875 6,875 6,875 6,875 6,875 6,875
21,900 21,900 21,900 21,900 21,900 21,900 21,900 21,900
3 3 3 3 3 3 3 3
5,008 5,008 5,008 5,008 5,008 5,008 5,008 5,008

4,507 4,507 4,507 4,507 4,507 4,507 4,507 4,507
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
9,516 9,516 9,516 9,516 9,516 9,516 9,516 9,516
2 2 2 2 2 2 2 2
119,568 119,568 119,568 119,568 119,568 119,568 119,568 119,568

17 17 17 17 17 17 17 17
20,800 20,800 20,800 20,800 20,800 20,800 20,800 20,800

8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000
6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400
2080000 2080000 2080000 2080000 2080000 2080000 2080000 2080000

600000 600000 600000 600000 600000 600000 600000 600000
320000 320000 320000 320000 320000 320000 320000 320000
3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00
(2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000)
(2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(13,370) (13,370) (13,370) (13,370) (13,370) (13,370) (13,370) (13,370)

(17,916) (17,916) (17,916) (17,916) (17,916) (17,916) (17,916) (17,916)
(750) (750) (750) (750) (750) (750) (750) (750)
(1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000) (1,000)
(750) (750) (750) (750) (750) (750) (750) (750)
(33,786) (33,786) (33,786) (33,786) (33,786) (33,786) (33,786) (33,786)
1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1%
(43,100) (43,100) (43,100) (43,100) (43,100) (43,100) (43,100) (43,100)
(21,900) (21,900) (21,900) (21,900) (21,900) (21,900) (21,900) (21,900)
(9,516) (9,516) (9,516) (9,516) (9,516) (9,516) (9,516) (9,516)
(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)
(1,750) (1,750) (1,750) (1,750) (1,750) (1,750) (1,750) (1,750)
(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)
(60,000) (60,000) (60,000) (60,000) (60,000) (60,000) (60,000) (60,000)

(120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000)
(286,266) (286,266) (286,266) (286,266) (286,266) (286,266) (286,266) (286,266)
9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5%
(25) (25) (25) (25) (25) (25) (25) (25)
(320,076) (320,076) (320,076) (320,076) (320,076) (320,076) (320,076) (320,076)

579,924 579,924 579,924 579,924 579,924 579,924 579,924 579,924
19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3%
579,949 579,949 579,949 579,949 579,949 579,949 579,949 579,949

19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3%
- - - - - - - -
- - - - - - - -
579,924 579,924 579,924 579,924 579,924 579,924 579,924 579,924
19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3% 19.3%
- - - - - - - -
579,924 579,924 579,924 579,924 579,924 579,924 579,924 579,924
(173,977) (173,977) (173,977) (173,977) (173,977) (173,977) (173,977) (173,977)
405,947 405,947 405,947 405,947 405,947 405,947 405,947 405,947
13.5% 13.5% 13.5% 13.5% 13.5% 13.5% 13.5% 13.5%
6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749 9,231,721

- - - - - - - -
- - - - - - - -
6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749 9,231,721
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(1,125) (1,150) (1,175) (1,200) (1,225) (1,250) (1,275) (1,300)
375 350 325 300 275 250 225 200
- - - - - - - -
6,390,295 6,796,241 7,202,188 7,608,135 8,014,081 8,420,028 8,825,974 9,231,921
- - - - - - - -
2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000
2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000
- - - - - - - -
2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000 2,100,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

2,890,295 3,296,241 3,702,188 4,108,135 4,514,081 4,920,028 5,325,974 5,731,921
4,290,295 4,696,241 5,102,188 5,508,135 5,914,081 6,320,028 6,725,974 7,131,921
6,390,295 6,796,241 7,202,188 7,608,135 8,014,081 8,420,028 8,825,974 9,231,921
- - - - - - - -
405,947 405,947 405,947 405,947 405,947 405,947 405,947 405,947

25 25 25 25 25 25 25 25
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
405,972 405,972 405,972 405,972 405,972 405,972 405,972 405,972
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
5,983,948 6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749
405,972 405,972 405,972 405,972 405,972 405,972 405,972 405,972
6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749 9,231,721
405,972 405,972 405,972 405,972 405,972 405,972 405,972 405,972

- - - - - - - -
- - - - - - - -
5,983,948 6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749
(239,136) (239,136) (239,136) (239,136) (239,136) (239,136) (239,136) (239,136)
6,150,784 6,556,755 6,962,727 7,368,698 7,774,670 8,180,641 8,586,613 8,992,585
- - - - - - - -
6,150,784 6,556,755 6,962,727 7,368,698 7,774,670 8,180,641 8,586,613 8,992,585
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

(2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000)
(320,076) (320,076) (320,076) (320,076) (320,076) (320,076) (320,076) (320,076)
579,949 579,949 579,949 579,949 579,949 579,949 579,949 579,949
- - - - - - - -
405,947 405,947 405,947 405,947 405,947 405,947 405,947 405,947
6,389,920 6,795,891 7,201,863 7,607,835 8,013,806 8,419,778 8,825,749 9,231,721

6,390,295 6,796,241 7,202,188 7,608,135 8,014,081 8,420,028 8,825,974 9,231,921
- - - - - - - -
- - - - - - - -
4,290,295 4,696,241 5,102,188 5,508,135 5,914,081 6,320,028 6,725,974 7,131,921
17 17 17 17 17 17 17 17
119,568 119,568 119,568 119,568 119,568 119,568 119,568 119,568
1st Year 2nd
Q4 2023
Oct-23 Nov-23 Dec-23 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020
0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.1% 0.1%

0.3% 0.3% 0.3% 0.9% 0.9% 0.9% 0.9% 0.9%
0.5% 0.5% 0.5% 1.4% 1.4% 1.4% 1.4% 1.4%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - 1,000,000 - -
239,136 239,136 239,136 70,917 74,583 78,250 95,871 183,974

17,473 17,473 17,473 43,125 43,125 43,125 43,125 45,281
14,485 14,485 14,485 35,750 35,750 35,750 35,750 37,538
11,142 11,142 11,142 27,500 27,500 27,500 27,500 28,875
43,100 43,100 43,100 106,375 106,375 106,375 106,375 111,694
3 3 3 3 3 3 3 3
6,100 6,100 6,100 - - - - -

3,777 3,777 3,777 - - - - 11,000
3,890 3,890 3,890 - - - - -
13,767 13,767 13,767 - - - - 11,000
3 3 3 - - - - 1
5,236 5,236 5,236 - - - - 14,375

4,127 4,127 4,127 - 3,667 11,000 11,000 11,330
4,007 4,007 4,007 - - - - 11,000
13,370 13,370 13,370 - 3,667 11,000 11,000 36,705
3 3 3 - 0 1 1 3
8,901 8,901 8,901 - - - - 24,438

4,507 4,507 4,507 - - - - 12,375
4,507 4,507 4,507 - - - - 12,375
17,916 17,916 17,916 - - - - 49,188
3 3 3 - - - - 3
7,512 7,512 7,512 - - - - 20,625

7,512 7,512 7,512 - - - - 20,625
6,875 6,875 6,875 - - - - -
21,900 21,900 21,900 - - - - 41,250
3 3 3 - - - - 2
5,008 5,008 5,008 - - - - 13,750

4,507 4,507 4,507 - - - - 12,375
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
- - - - - - - 7,500
9,516 9,516 9,516 - - - - 26,125
2 2 2 - - - - 2
119,568 119,568 119,568 106,375 110,042 117,375 117,375 275,961

17 17 17 3 3 4 4 14
20,800 20,800 20,800 - - - - 7,800

8,000 8,000 8,000 - - - - 3,000
6,400 6,400 6,400 - - - - 2,400
2080000 2080000 2080000

600000 600000 600000
320000 320000 320000
3,000,000.00 3,000,000.00 3,000,000.00 - - - - 1,125,000
(2,100,000) (2,100,000) (2,100,000)
(2,100,000) (2,100,000) (2,100,000) - - - - (787,500)

70.0% 70.0% 70.0% 0.0% 0.0% 0.0% 0.0% 70.0%
900,000 900,000 900,000 - - - - 337,500

30.0% 30.0% 30.0% 0% 0% 0% 0% 30.0%
(13,370) (13,370) (13,370) - (3,667) (11,000) (11,000) (36,705)

(17,916) (17,916) (17,916) - - - - (49,188)
(750) (750) (750) - - - - -
(1,000) (1,000) (1,000) (1,500) (1,500) (1,500) (1,500) (1,500)
(750) (750) (750) (750) (750) (750) (750) (750)
(33,786) (33,786) (33,786) (2,250) (5,917) (13,250) (13,250) (88,143)
1.1% 1.1% 1.1% 0% 0% 0% 0% 7.8%
(43,100) (43,100) (43,100) (106,375) (106,375) (106,375) (106,375) (111,694)
(21,900) (21,900) (21,900) - - - - (41,250)
(9,516) (9,516) (9,516) - - - - (26,125)
(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)
(1,750) (1,750) (1,750)
(15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)
(60,000) (60,000) (60,000) - - - - (22,500)

(120,000) (120,000) (120,000) - - - - (45,000)
(286,266) (286,266) (286,266) (171,900) (166,900) (157,525) (138,775) (279,569)
9.5% 9.5% 9.5% 0% 0% 0% 0% 24.9%
(25) (25) (25) - (25) (75) (75) (75)
(320,076) (320,076) (320,076) (174,150) (172,842) (170,850) (152,100) (367,786)

579,924 579,924 579,924 (112,767) (172,842) (170,850) (152,100) (30,286)
19.3% 19.3% 19.3% 0% 0% 0% 0% (2.7%)
579,949 579,949 579,949 (112,767) (172,817) (170,775) (152,025) (30,211)

19.3% 19.3% 19.3% 0% 0% 0% 0% (2.7%)
- - - - - - - -
- - - - - - - -
579,924 579,924 579,924 (112,767) (172,842) (170,850) (152,100) (30,286)
19.3% 19.3% 19.3% 0% 0% 0% 0% (2.7%)
- - - 112,767 172,842 170,850 152,100 30,286

579,924 579,924 579,924 - - - - -
(173,977) (173,977) (173,977) - - - - -
405,947 405,947 405,947 (112,767) (172,842) (170,850) (152,100) (30,286)
13.5% 13.5% 13.5% 0% 0% 0% 0% 0%
9,637,692 10,043,664 10,449,636 287,233 112,917 942,142 790,117 1,022,405

- - - - - - - -
- - - - - - - -
9,637,692 10,043,664 10,449,636 287,233 112,917 942,142 790,117 1,022,405
1,500 1,500 1,500 - 1,500 1,500 1,500 1,500

(1,325) (1,350) (1,375) - (25) (100) (175) (250)
175 150 125 - 1,475 1,400 1,325 1,250
- - - - - - - -
9,637,867 10,043,814 10,449,761 287,233 114,392 943,542 791,442 1,023,655
- - - - - - - -
2,100,000 2,100,000 2,100,000 - - - - 262,500
2,100,000 2,100,000 2,100,000 - - - - 262,500
- - - - - - - -
2,100,000 2,100,000 2,100,000 - - - - 262,500
1,400,000 1,400,000 1,400,000 400,000 400,000 1,400,000 1,400,000 1,400,000

6,137,867 6,543,814 6,949,761 (112,767) (285,608) (456,458) (608,558) (638,845)
7,537,867 7,943,814 8,349,761 287,233 114,392 943,542 791,442 761,155
9,637,867 10,043,814 10,449,761 287,233 114,392 943,542 791,442 1,023,655
- - - 112,767 285,608 456,458 608,558 638,845
405,947 405,947 405,947 (112,767) (172,842) (170,850) (152,100) (30,286)

25 25 25 - 25 75 75 75
- - - - - - - -
- - - - - - - 262,500
- - - - - - - -
- - - - - - - -
405,972 405,972 405,972 (112,767) (172,817) (170,775) (152,025) 232,289
- - - - (1,500) - - -
- - - - - - - -
- - - - - - - -
- - - - (1,500) - - -
- - - - - - - -
- - - - - - - -
- - - 400,000 - 1,000,000 - -
- - - - - - - -
- - - 400,000 - 1,000,000 - -
9,231,721 9,637,692 10,043,664 - 287,233 112,917 942,142 790,117
405,972 405,972 405,972 287,233 (174,317) 829,225 (152,025) 232,289
9,637,692 10,043,664 10,449,636 287,233 112,917 942,142 790,117 1,022,405
405,972 405,972 405,972 (112,767) (174,317) (170,775) (152,025) 232,289

- - - 400,000 - 1,000,000 - -
- - - - - - - -
9,231,721 9,637,692 10,043,664 - 287,233 112,917 942,142 790,117
(239,136) (239,136) (239,136) (70,917) (74,583) (78,250) (95,871) (183,974)
9,398,556 9,804,528 10,210,499 216,317 38,333 863,892 694,246 838,431
- - - - - - - -
9,398,556 9,804,528 10,210,499 216,317 38,333 863,892 694,246 838,431
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
3,000,000 3,000,000 3,000,000 - - - - 1,125,000

(2,100,000) (2,100,000) (2,100,000) - - - - (787,500)
(320,076) (320,076) (320,076) (174,150) (172,842) (170,850) (152,100) (367,786)
579,949 579,949 579,949 (112,767) (172,817) (170,775) (152,025) (30,211)
- - - - - - - -
405,947 405,947 405,947 (112,767) (172,842) (170,850) (152,100) (30,286)
9,637,692 10,043,664 10,449,636 287,233 112,917 942,142 790,117 1,022,405

9,637,867 10,043,814 10,449,761 287,233 114,392 943,542 791,442 1,023,655
- - - - - - - -
- - - - - - - -
7,537,867 7,943,814 8,349,761 287,233 114,392 943,542 791,442 761,155
17 17 17 3 4 4 4 14
119,568 119,568 119,568 35,458 39,125 39,125 39,125 91,987
2nd Year 3rd Year 4th Yea
Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9%
1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - -
183,974 183,974 188,281 209,816 209,816 209,816 211,126 217,451

45,281 45,281 45,281 47,545 47,545 47,545 47,545 49,923
37,538 37,538 37,538 39,414 39,414 39,414 39,414 41,385
28,875 28,875 28,875 30,319 30,319 30,319 30,319 31,835
111,694 111,694 111,694 117,278 117,278 117,278 117,278 123,142
3 3 3 3 3 3 3 3
- - - 17,250 17,250 17,250 17,250 17,768

11,000 11,000 11,000 11,330 11,330 11,330 11,330 11,447
- - - 11,000 11,000 11,000 11,000 11,330
11,000 11,000 11,000 39,580 39,580 39,580 39,580 40,544
1 1 1 3 3 3 3 3
14,375 14,375 14,375 14,806 14,806 14,806 14,806 15,250

11,330 11,330 11,330 11,670 11,670 11,670 11,670 12,020
11,000 11,000 11,000 11,330 11,330 11,330 11,330 11,670
36,705 36,705 36,705 37,806 37,806 37,806 37,806 38,940
3 3 3 3 3 3 3 3
24,438 24,438 24,438 25,171 25,171 25,171 25,171 25,926

12,375 12,375 12,375 12,746 12,746 12,746 12,746 13,129
12,375 12,375 12,375 12,746 12,746 12,746 12,746 13,129
49,188 49,188 49,188 50,663 50,663 50,663 50,663 52,183
3 3 3 3 3 3 3 3
20,625 20,625 20,625 21,244 21,244 21,244 21,244 21,881

20,625 20,625 20,625 21,244 21,244 21,244 21,244 21,881
- - - - - - - -
41,250 41,250 41,250 42,488 42,488 42,488 42,488 43,762
2 2 2 2 2 2 2 2
13,750 13,750 13,750 14,163 14,163 14,163 14,163 14,587

12,375 12,375 12,375 12,746 12,746 12,746 12,746 13,129
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
7,500 7,500 7,500 - - - - -
26,125 26,125 26,125 26,909 26,909 26,909 26,909 27,716
2 2 2 2 2 2 2 2
275,961 275,961 275,961 314,724 314,724 314,724 314,724 326,288

14 14 14 16 16 16 16 16
7,800 7,800 7,800 15,600 15,600 15,600 15,600 31,200

3,000 3,000 3,000 6,000 6,000 6,000 6,000 12,000
2,400 2,400 2,400 4,800 4,800 4,800 4,800 9,600
1,125,000 1,125,000 1,125,000 2,250,000 2,250,000 2,250,000 2,250,000 4,500,000
(787,500) (787,500) (787,500) (1,575,000) (1,575,000) (1,575,000) (1,575,000) (3,150,000)

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
337,500 337,500 337,500 675,000 675,000 675,000 675,000 1,350,000

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
(36,705) (36,705) (36,705) (37,806) (37,806) (37,806) (37,806) (38,940)

(49,188) (49,188) (49,188) (50,663) (50,663) (50,663) (50,663) (52,183)
- - - (2,250) (2,250) (2,250) (2,250) (2,250)
(1,500) (1,500) (1,500) (3,000) (3,000) (3,000) (3,000) (3,000)
(750) (750) (750) (2,250) (2,250) (2,250) (2,250) (2,250)
(88,143) (88,143) (88,143) (95,969) (95,969) (95,969) (95,969) (98,623)
7.8% 7.8% 7.8% 4.3% 4.3% 4.3% 4.3% 2.2%
(111,694) (111,694) (111,694) (117,278) (117,278) (117,278) (117,278) (123,142)
(41,250) (41,250) (41,250) (42,488) (42,488) (42,488) (42,488) (43,762)
(26,125) (26,125) (26,125) (26,909) (26,909) (26,909) (26,909) (27,716)
(15,000) (15,000) (15,000) (30,000) (30,000) (30,000) (30,000) (30,000)
(15,000) (15,000) (15,000) (21,000) (21,000) (21,000) (21,000) (30,000)
(22,500) (22,500) (22,500) (45,000) (45,000) (45,000) (45,000) (90,000)

(45,000) (45,000) (45,000) (90,000) (90,000) (90,000) (90,000) (180,000)
(279,569) (279,569) (279,569) (376,425) (376,425) (376,425) (376,425) (529,120)
24.9% 24.9% 24.9% 16.7% 16.7% 16.7% 16.7% 11.8%
(75) (75) (75) (75) (75) (75) (75) (75)
(367,786) (367,786) (367,786) (472,469) (472,469) (472,469) (472,469) (627,819)

(30,286) (30,286) (30,286) 202,531 202,531 202,531 202,531 722,181
(2.7%) (2.7%) (2.7%) 9.0% 9.0% 9.0% 9.0% 16.0%
(30,211) (30,211) (30,211) 202,606 202,606 202,606 202,606 722,256

(2.7%) (2.7%) (2.7%) 9.0% 9.0% 9.0% 9.0% 16.1%
- - - - - - - -
- - - - - - - -
(30,286) (30,286) (30,286) 202,531 202,531 202,531 202,531 722,181
(2.7%) (2.7%) (2.7%) 9.0% 9.0% 9.0% 9.0% 16.0%
30,286 30,286 30,286 (202,531) (202,531) (202,531) (122,110) -

- - - - - - 80,421 722,181
- - - - - - (24,126) (216,654)
(30,286) (30,286) (30,286) 202,531 202,531 202,531 178,405 505,527
(2.7%) (2.7%) (2.7%) 9.0% 9.0% 9.0% 7.9% 11.2%
992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570 3,011,171

- - - - - - - -
- - - - - - - -
992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570 3,011,171
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(325) (400) (475) (550) (625) (700) (775) (850)
1,175 1,100 1,025 950 875 800 725 650
- - - - - - - -
993,369 963,083 932,797 1,397,828 1,600,359 1,802,890 1,981,295 3,011,821
- - - - - - - -
262,500 262,500 262,500 525,000 525,000 525,000 525,000 1,050,000
262,500 262,500 262,500 525,000 525,000 525,000 525,000 1,050,000
- - - - - - - -
262,500 262,500 262,500 525,000 525,000 525,000 525,000 1,050,000
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

(669,131) (699,417) (729,703) (527,172) (324,641) (122,110) 56,295 561,821
730,869 700,583 670,297 872,828 1,075,359 1,277,890 1,456,295 1,961,821
993,369 963,083 932,797 1,397,828 1,600,359 1,802,890 1,981,295 3,011,821
669,131 699,417 729,703 527,172 324,641 122,110 - -
(30,286) (30,286) (30,286) 202,531 202,531 202,531 178,405 505,527

75 75 75 75 75 75 75 75
- - - - - - - -
- - - 262,500 - - - 525,000
- - - - - - - -
- - - - - - - -
(30,211) (30,211) (30,211) 465,106 202,606 202,606 178,480 1,030,602
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,022,405 992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570
(30,211) (30,211) (30,211) 465,106 202,606 202,606 178,480 1,030,602
992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570 3,011,171
(30,211) (30,211) (30,211) 465,106 202,606 202,606 178,480 1,030,602

- - - - - - - -
- - - - - - - -
1,022,405 992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570
(183,974) (183,974) (188,281) (209,816) (209,816) (209,816) (211,126) (217,451)
808,220 778,009 743,491 1,187,062 1,389,668 1,592,274 1,769,444 2,793,721
- - - - - - - -
808,220 778,009 743,491 1,187,062 1,389,668 1,592,274 1,769,444 2,793,721
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,125,000 1,125,000 1,125,000 2,250,000 2,250,000 2,250,000 2,250,000 4,500,000

(787,500) (787,500) (787,500) (1,575,000) (1,575,000) (1,575,000) (1,575,000) (3,150,000)
(367,786) (367,786) (367,786) (472,469) (472,469) (472,469) (472,469) (627,819)
(30,211) (30,211) (30,211) 202,606 202,606 202,606 202,606 722,256
- - - - - - - -
(30,286) (30,286) (30,286) 202,531 202,531 202,531 178,405 505,527
992,194 961,983 931,772 1,396,878 1,599,484 1,802,090 1,980,570 3,011,171

993,369 963,083 932,797 1,397,828 1,600,359 1,802,890 1,981,295 3,011,821
- - - - - - - -
- - - - - - - -
730,869 700,583 670,297 872,828 1,075,359 1,277,890 1,456,295 1,961,821
14 14 14 16 16 16 16 16
91,987 91,987 91,987 104,908 104,908 104,908 104,908 108,614
4th Year 5th Year 1st Year
Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 2019
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.5%

0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 3.5%
1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 5.5%
0.0% 0.0% 100.0% 0.0% 0.0% 0.0% 0.0% 0.0%
21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0% 9.0%
- - - - - - - -
30 30 30 30 30 30 30 30
- - - - - - - -
- - - - - - - 1,000,000
217,228 217,228 220,879 239,136 239,136 239,136 239,136 79,905

49,923 49,923 49,923 52,419 52,419 52,419 52,419 172,500
41,385 41,385 41,385 43,454 43,454 43,454 43,454 143,000
31,835 31,835 31,835 33,426 33,426 33,426 33,426 110,000
123,142 123,142 123,142 129,299 129,299 129,299 129,299 425,500
3 3 3 3 3 3 3 3
17,768 17,768 17,768 18,301 18,301 18,301 18,301 -

11,000 11,000 11,000 11,330 11,330 11,330 11,330 -
11,330 11,330 11,330 11,670 11,670 11,670 11,670 -
40,098 40,098 40,098 41,300 41,300 41,300 41,300 -
3 3 3 3 3 3 3 -
15,250 15,250 15,250 15,708 15,708 15,708 15,708 -

12,020 12,020 12,020 12,381 12,381 12,381 12,381 25,667
11,670 11,670 11,670 12,020 12,020 12,020 12,020 -
38,940 38,940 38,940 40,109 40,109 40,109 40,109 25,667
3 3 3 3 3 3 3 1
25,926 25,926 25,926 26,704 26,704 26,704 26,704 -

13,129 13,129 13,129 13,522 13,522 13,522 13,522 -
13,129 13,129 13,129 13,522 13,522 13,522 13,522 -
52,183 52,183 52,183 53,749 53,749 53,749 53,749 -
3 3 3 3 3 3 3 -
21,881 21,881 21,881 22,537 22,537 22,537 22,537 -

21,881 21,881 21,881 22,537 22,537 22,537 22,537 -
- - - 20,625 20,625 20,625 20,625 -
43,762 43,762 43,762 65,700 65,700 65,700 65,700 -
2 2 2 3 3 3 3 -
14,587 14,587 14,587 15,025 15,025 15,025 15,025 -

13,129 13,129 13,129 13,522 13,522 13,522 13,522 -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
27,716 27,716 27,716 28,547 28,547 28,547 28,547 -
2 2 2 2 2 2 2 -
325,841 325,841 325,841 358,704 358,704 358,704 358,704 451,167

16 16 16 17 17 17 17 4
31,200 31,200 31,200 62,400 62,400 62,400 62,400 -

12,000 12,000 12,000 24,000 24,000 24,000 24,000 -
9,600 9,600 9,600 19,200 19,200 19,200 19,200 -
4,500,000 4,500,000 4,500,000 9,000,000 9,000,000 9,000,000 9,000,000 -
(3,150,000) (3,150,000) (3,150,000) (6,300,000) (6,300,000) (6,300,000) (6,300,000) -

70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 0.0%
1,350,000 1,350,000 1,350,000 2,700,000 2,700,000 2,700,000 2,700,000 -

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 0%
(38,940) (38,940) (38,940) (40,109) (40,109) (40,109) (40,109) (25,667)

(52,183) (52,183) (52,183) (53,749) (53,749) (53,749) (53,749) -
(2,250) (2,250) (2,250) (2,250) (2,250) (2,250) (2,250) -
(3,000) (3,000) (3,000) (3,000) (3,000) (3,000) (3,000) (6,000)
(2,250) (2,250) (2,250) (2,250) (2,250) (2,250) (2,250) (3,000)
(98,623) (98,623) (98,623) (101,357) (101,357) (101,357) (101,357) (34,667)
2.2% 2.2% 2.2% 1.1% 1.1% 1.1% 1.1% 0%
(123,142) (123,142) (123,142) (129,299) (129,299) (129,299) (129,299) (425,500)
(43,762) (43,762) (43,762) (65,700) (65,700) (65,700) (65,700) -
(27,716) (27,716) (27,716) (28,547) (28,547) (28,547) (28,547) -
(30,000) (30,000) (30,000) (45,000) (45,000) (45,000) (45,000) (60,000)
(30,000) (30,000) (30,000) (45,000) (45,000) (45,000) (45,000) (60,000)
(90,000) (90,000) (90,000) (180,000) (180,000) (180,000) (180,000) -

(180,000) (180,000) (180,000) (360,000) (360,000) (360,000) (360,000) -
(529,120) (529,120) (529,120) (858,797) (858,797) (858,797) (858,797) (635,100)
11.8% 11.8% 11.8% 9.5% 9.5% 9.5% 9.5% 0%
(75) (75) (75) (75) (75) (75) (75) (175)
(627,819) (627,819) (627,819) (960,229) (960,229) (960,229) (960,229) (669,942)

722,181 722,181 722,181 1,739,771 1,739,771 1,739,771 1,739,771 (608,558)
16.0% 16.0% 16.0% 19.3% 19.3% 19.3% 19.3% 0%
722,256 722,256 722,256 1,739,846 1,739,846 1,739,846 1,739,846 (608,383)

16.1% 16.1% 16.1% 19.3% 19.3% 19.3% 19.3% 0%
- - - - - - - -
- - - - - - - -
722,181 722,181 722,181 1,739,771 1,739,771 1,739,771 1,739,771 (608,558)
16.0% 16.0% 16.0% 19.3% 19.3% 19.3% 19.3% 0%
- - - - - - - 608,558
722,181 722,181 722,181 1,739,771 1,739,771 1,739,771 1,739,771 -
(216,654) (216,654) (216,654) (521,931) (521,931) (521,931) (521,931) -
505,527 505,527 505,527 1,217,840 1,217,840 1,217,840 1,217,840 (608,558)
11.2% 11.2% 11.2% 13.5% 13.5% 13.5% 13.5% 0%
3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 10,449,636 790,117

- - - - - - - -
- - - - - - - -
3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 10,449,636 790,117
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500

(925) (1,000) (1,075) (1,150) (1,225) (1,300) (1,375) (175)
575 500 425 350 275 200 125 1,325
- - - - - - - -
3,517,348 4,022,875 4,528,402 6,796,241 8,014,081 9,231,921 10,449,761 791,442
- - - - - - - -
1,050,000 1,050,000 1,050,000 2,100,000 2,100,000 2,100,000 2,100,000 -
1,050,000 1,050,000 1,050,000 2,100,000 2,100,000 2,100,000 2,100,000 -
- - - - - - - -
1,050,000 1,050,000 1,050,000 2,100,000 2,100,000 2,100,000 2,100,000 -
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000

1,067,348 1,572,875 2,078,402 3,296,241 4,514,081 5,731,921 6,949,761 (608,558)
2,467,348 2,972,875 3,478,402 4,696,241 5,914,081 7,131,921 8,349,761 791,442
3,517,348 4,022,875 4,528,402 6,796,241 8,014,081 9,231,921 10,449,761 791,442
- - - - - - - 608,558
505,527 505,527 505,527 1,217,840 1,217,840 1,217,840 1,217,840 (608,558)

75 75 75 75 75 75 75 175
- - - - - - - -
- - - 1,050,000 - - - -
- - - - - - - -
- - - - - - - -
505,602 505,602 505,602 2,267,915 1,217,915 1,217,915 1,217,915 (608,383)
- - - - - - - (1,500)
- - - - - - - -
- - - - - - - -
- - - - - - - (1,500)
- - - - - - - -
- - - - - - - -
- - - - - - - 1,400,000
- - - - - - - -
- - - - - - - 1,400,000
3,011,171 3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 -
505,602 505,602 505,602 2,267,915 1,217,915 1,217,915 1,217,915 790,117
3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 10,449,636 790,117
505,602 505,602 505,602 2,267,915 1,217,915 1,217,915 1,217,915 (609,883)

- - - - - - - 1,400,000
- - - - - - - -
3,011,171 3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 -
(217,228) (217,228) (220,879) (239,136) (239,136) (239,136) (239,136) (79,905)
3,299,546 3,805,147 4,307,098 6,556,755 7,774,670 8,992,585 10,210,499 6,100,421
- - - - - - - -
3,299,546 3,805,147 4,307,098 6,556,755 7,774,670 8,992,585 10,210,499 6,100,421
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
4,500,000 4,500,000 4,500,000 9,000,000 9,000,000 9,000,000 9,000,000 -

(3,150,000) (3,150,000) (3,150,000) (6,300,000) (6,300,000) (6,300,000) (6,300,000) -
(627,819) (627,819) (627,819) (960,229) (960,229) (960,229) (960,229) (669,942)
722,256 722,256 722,256 1,739,846 1,739,846 1,739,846 1,739,846 (608,383)
- - - - - - - -
505,527 505,527 505,527 1,217,840 1,217,840 1,217,840 1,217,840 (608,558)
3,516,773 4,022,375 4,527,977 6,795,891 8,013,806 9,231,721 10,449,636 790,117

3,517,348 4,022,875 4,528,402 6,796,241 8,014,081 9,231,921 10,449,761 791,442
- - - - - - - -
- - - - - - - -
2,467,348 2,972,875 3,478,402 4,696,241 5,914,081 7,131,921 8,349,761 791,442
16 16 16 17 17 17 17 4
108,614 108,614 108,614 119,568 119,568 119,568 119,568 39,125
2nd Year 3rd Year 4th Year 5th Year Checksum Checksum Checksum Checksum
Ok Ok Ok Ok
2020 2021 2022 2023 2019 2020 2021 2022
0.5% 0.5% 0.5% 0.5% Ok Ok Ok Ok

3.5% 3.5% 3.5% 3.5% Ok Ok Ok Ok
5.5% 5.5% 5.5% 5.5% Ok Ok Ok Ok
0.0% 0.0% 100.0% 0.0% Ok Ok Ok Ok
21.0% 21.0% 21.0% 21.0% Ok Ok Ok Ok

9.0% 9.0% 9.0% 9.0% Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
30 30 30 30 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
185,051 210,143 218,196 239,136 Ok Ok Ok Ok

181,125 190,181 199,690 209,675 Ok Ok Ok Ok
150,150 157,658 165,540 173,817 Ok Ok Ok Ok
115,500 121,275 127,339 133,706 Ok Ok Ok Ok
446,775 469,114 492,569 517,198 Ok Ok Ok Ok
3 3 3 3 Ok Ok Ok Ok
- 69,000 71,070 73,202 Ok Ok Ok Ok

44,000 45,320 44,447 45,320 Ok Ok Ok Ok
- 44,000 45,320 46,680 Ok Ok Ok Ok
44,000 158,320 160,837 165,202 Ok Ok Ok Ok
1 3 3 3 Ok Ok Ok Ok
57,500 59,225 61,002 62,832 Ok Ok Ok Ok

45,320 46,680 48,080 49,522 Ok Ok Ok Ok
44,000 45,320 46,680 48,080 Ok Ok Ok Ok
146,820 151,225 155,761 160,434 Ok Ok Ok Ok
3 3 3 3 Ok Ok Ok Ok
97,750 100,683 103,703 106,814 Ok Ok Ok Ok

49,500 50,985 52,515 54,090 Ok Ok Ok Ok
49,500 50,985 52,515 54,090 Ok Ok Ok Ok
196,750 202,653 208,732 214,994 Ok Ok Ok Ok
3 3 3 3 Ok Ok Ok Ok
82,500 84,975 87,524 90,150 Ok Ok Ok Ok

82,500 84,975 87,524 90,150 Ok Ok Ok Ok
- - - 82,500 Ok Ok Ok Ok
165,000 169,950 175,049 262,800 Ok Ok Ok Ok
2 2 2 3 Ok Ok Ok Ok
55,000 56,650 58,350 60,100 Ok Ok Ok Ok

49,500 50,985 52,515 54,090 Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
30,000 - - - Ok Ok Ok Ok
104,500 107,635 110,864 114,190 Ok Ok Ok Ok
2 2 2 2 Ok Ok Ok Ok
1,103,845 1,258,896 1,303,812 1,434,818 Ok Ok Ok Ok

14 16 16 17 Ok Ok Ok Ok
31,200 62,400 124,800 249,600 Ok Ok Ok Ok

12,000 24,000 48,000 96,000 Ok Ok Ok Ok
9,600 19,200 38,400 76,800 Ok Ok Ok Ok
4,500,000 9,000,000 18,000,000 36,000,000 Ok Ok Ok Ok
(3,150,000) (6,300,000) (12,600,000) (25,200,000) Ok Ok Ok Ok

70.0% 70.0% 70.0% 70.0%
1,350,000 2,700,000 5,400,000 10,800,000 Ok Ok Ok Ok

30.0% 30.0% 30.0% 30.0%
(146,820) (151,225) (155,761) (160,434) Ok Ok Ok Ok

(196,750) (202,653) (208,732) (214,994) Ok Ok Ok Ok
- (9,000) (9,000) (9,000) Ok Ok Ok Ok
(6,000) (12,000) (12,000) (12,000) Ok Ok Ok Ok
(3,000) (9,000) (9,000) (9,000) Ok Ok Ok Ok
(352,570) (383,877) (394,493) (405,428) Ok Ok Ok Ok
7.8% 4.3% 2.2% 1.1%
(446,775) (469,114) (492,569) (517,198) Ok Ok Ok Ok
(165,000) (169,950) (175,049) (262,800) Ok Ok Ok Ok
(104,500) (107,635) (110,864) (114,190) Ok Ok Ok Ok
(60,000) (120,000) (120,000) (180,000) Ok Ok Ok Ok
(60,000) (84,000) (120,000) (180,000) Ok Ok Ok Ok
(90,000) (180,000) (360,000) (720,000) Ok Ok Ok Ok

(180,000) (360,000) (720,000) (1,440,000) Ok Ok Ok Ok
(1,118,275) (1,505,699) (2,116,482) (3,435,188) Ok Ok Ok Ok
24.9% 16.7% 11.8% 9.5%
(300) (300) (300) (300) Ok Ok Ok Ok
(1,471,145) (1,889,876) (2,511,275) (3,840,916) Ok Ok Ok Ok

(121,145) 810,124 2,888,725 6,959,084 Ok Ok Ok Ok
(2.7%) 9.0% 16.0% 19.3%
(120,845) 810,424 2,889,025 6,959,384 Ok Ok Ok Ok

(2.7%) 9.0% 16.1% 19.3%
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
(121,145) 810,124 2,888,725 6,959,084 Ok Ok Ok Ok
(2.7%) 9.0% 16.0% 19.3%
121,145 (729,703) - - Ok Ok Ok Ok
- 80,421 2,888,725 6,959,084 Ok Ok Ok Ok
- (24,126) (866,617) (2,087,725) Ok Ok Ok Ok
(121,145) 785,998 2,022,107 4,871,359 Ok Ok Ok Ok
(2.7%) 8.7% 11.2% 13.5%
931,772 1,980,570 4,527,977 10,449,636 Ok Ok Ok Ok

- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
931,772 1,980,570 4,527,977 10,449,636 Ok Ok Ok Ok
1,500 1,500 1,500 1,500 Ok Ok Ok Ok

(475) (775) (1,075) (1,375) Ok Ok Ok Ok
1,025 725 425 125 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
932,797 1,981,295 4,528,402 10,449,761 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
262,500 525,000 1,050,000 2,100,000 Ok Ok Ok Ok
262,500 525,000 1,050,000 2,100,000 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
262,500 525,000 1,050,000 2,100,000 Ok Ok Ok Ok
1,400,000 1,400,000 1,400,000 1,400,000 Ok Ok Ok Ok

(729,703) 56,295 2,078,402 6,949,761 Ok Ok Ok Ok
670,297 1,456,295 3,478,402 8,349,761 Ok Ok Ok Ok
932,797 1,981,295 4,528,402 10,449,761 Ok Ok Ok Ok
Ok Ok Ok Ok
729,703 - - - Ok Ok Ok Ok
(121,145) 785,998 2,022,107 4,871,359 Ok Ok Ok Ok

300 300 300 300 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
262,500 262,500 525,000 1,050,000 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
141,655 1,048,798 2,547,407 5,921,659 Ok Ok Ok Ok
- - - -
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
790,117 931,772 1,980,570 4,527,977 Ok Ok Ok Ok
141,655 1,048,798 2,547,407 5,921,659 Ok Ok Ok Ok
931,772 1,980,570 4,527,977 10,449,636 Ok Ok Ok Ok
141,655 1,048,798 2,547,407 5,921,659 Ok Ok Ok Ok

- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
790,117 931,772 1,980,570 4,527,977 Ok Ok Ok Ok
(185,051) (210,143) (218,196) (239,136) Ok Ok Ok Ok
9,625,297 17,049,297 40,594,127 95,731,868
- - - - Ok Ok Ok Ok
9,625,297 17,049,297 40,594,127 95,731,868
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
4,500,000 9,000,000 18,000,000 36,000,000 Ok Ok Ok Ok

(3,150,000) (6,300,000) (12,600,000) (25,200,000) Ok Ok Ok Ok
(1,471,145) (1,889,876) (2,511,275) (3,840,916) Ok Ok Ok Ok
(120,845) 810,424 2,889,025 6,959,384 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
(121,145) 785,998 2,022,107 4,871,359 Ok Ok Ok Ok
931,772 1,980,570 4,527,977 10,449,636 Ok Ok Ok Ok

932,797 1,981,295 4,528,402 10,449,761 Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
- - - - Ok Ok Ok Ok
670,297 1,456,295 3,478,402 8,349,761 Ok Ok Ok Ok
14 16 16 17 Ok Ok Ok Ok
91,987 104,908 108,614 119,568 Ok Ok Ok Ok
Checksum
Ok
2023
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Ok
Payload Financial Model
Founders Friends / Family Angel / Seed Series A
Funding Rounds (SECTION INDEPENDENT OF MODEL; REQUIRES INDIVIDUAL INPUTS)
Initial Funding
Existing Common Shares 10,000,000 - - -
Existing Preferred Shares - - - -
Existing Options Granted - - - -
Total Cumulative Shares 10,000,000 - - -
Round 1
Investment Dollar Amount 400,000 - - -
Additional Common Shares - - - -
Additional Preferred Shares - - - -
Additional Options Granted - - - -
Cumulative Common Shares 10,000,000 - - -
Cumulative Preferred Shares - - - -
Cumulative Options Granted - - - -
Total Cumulative Shares 10,000,000 - - -
Round 2
Investment Dollar Amount - - 1,000,000 -
Additional Common Shares - - - -
Additional Preferred Shares - - 336,000 -
Additional Options Granted - - 30,000 -
Cumulative Common Shares 10,000,000 - - -
Cumulative Preferred Shares - - 336,000 -
Cumulative Options Granted - - 30,000 -
Total Cumulative Shares 10,000,000 - 366,000 -
Options Price / Total Post-Money
Series B Series C Series D Total Shares Pre-Money Valuation
Available Share Investment Valuation
- - - 10,000,000
- - - -
- - - -
- - - 10,000,000
4,000,000 $0.40 400,000 4,400,000

- - -
- - - -
- - - -
- - - -
- - - 10,000,000
- - - -
- - - - -
- - - 10,000,000
15,000,000 $1.50 1,000,000 16,000,000

- - -
- - - -
- - - 336,000
- - - 30,000
- - - 10,000,000
- - - 336,000
- - - - -
- - - 10,336,000
Payload Financial Model
WACC (SECTION INDEPENDENT OF PRIMARY MODEL; YELLOW CELLS BELOW REQUIRE INDIVIDUAL INPUTS) (1)
Risk-Free Rate (2) 1.9%

Market Risk Premium (3) 4.5%
Comparable Firm Comparable Firm Comparable Firm

1- AUTO 2- TZOO 3- BKNG Average
Equity 33,515 14,059 8,785,000
Debt 23,901 29,365 13,902,000
Tax Rate 29.80% 26.50% 30%
Levered Equity Beta (4) 1.1 1.1 1.0
Unlevered Equity Beta 0.7 0.4 0.5 0.5
Startup % Debt 0.0%

Startup % Equity 100.0%
Startup Tax Rate 40.0%
Levered Equity Beta 0.5
Equity Risk Premium 2.5%
Cost of Equity 4.4%

Cost of Debt 0.0%
Weighted Average Cost of Capital 4.4%
(1) Choosing WACC for an early-stage startup is a highly arbitrary exercise. A good baseline is to reflect the average IRR of angel investors. According to three studies o
returns range from 18-37% to 27% to 30%.
(2) Initial placeholder based on the 10-Year Treasury Yield as of 9/9/2011.
(3) Initial placeholder based on the difference between the 1928-2010 arithmetic average return of stocks (Damodaran, January 2011) and the 10-Year Treasury Yield a
(4) Available on Yahoo! Finance under "Key Statistics" for publicly-traded companies .
Valuation
Weighted Average Cost of Capital 4.4%

Terminal Value Growth 3.0%
2019 2020
Operating Income (608,558) (121,145)
Tax Expense - -
Tax-Effected EBIT (Earnings Before Interest) (608,558) (121,145)
Plus: Depreciation Expense (175) (300)
Capital Expenditures (1,500) -
Changes in Working Capital - 262,500
Changes in Other Assets & Liabilities - -
Unlevered Free Cash Flow (610,233) 141,055
Present Value of Unlevered Free Cash Flow (584,615) 129,460
Terminal Value
Present Value of Terminal Value
NPV based on terminal year 3 69,154,280

NPV based on terminal year 5 363,499,909
According to three studies of early-stage investors (http://goo.gl/Wcoiw ) , these
the 10-Year Treasury Yield as of 9/9/2011.

2021 2022 2023
810,124 2,888,725 6,959,084
(24,126) (866,617) (2,087,725)
785,998 2,022,107 4,871,359
(300) (300) (300)
- - -
262,500 525,000 1,050,000
- - -
1,048,198 2,546,807 5,921,059
921,650 2,145,324 4,778,265
78,119,053 441,278,788
68,687,785 356,109,825

Excel Financial Sampel

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Excel Financial Sampel

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Pay Load Financial Model

(in whole USD; assumes no inflation)

Annual Nominal Interest Rate earned on Cash 0.5% 0.0%

Federal Tax Rate 21.0%

# of Days Sales Outstanding -

Average Useful Life of Gross PP&E in Years 5

User Growth (Number of download)

Starting Capital 400,000

Minimum # Months Payroll Needed in Cash 2

Senior Management Compensation Base Annual Salary Benefits %

Business Development Compensation Base Annual Salary Benefits %

Sales Compensation (Driving Growth) Base Annual Salary Benefits %

Marketing Compensation Base Annual Salary Benefits %

IT Compensation Base Annual Salary Benefits %

Other Compensation Base Annual Salary Benefits %

Total Salaries & Benefits 35,458

Number of monthly request (Immidiate)

Cost of Goods Sold

Total Cost of Goods Sold -

Sales & Marketing Expenses

Total Operating Expenses (61,383)

Add (Subtract) to Tax Loss Carryforward 0

Total Assets - 400,000

Liabilities & Shareholder's Equity

Revolver (Short-Term Debt) - -

Paid-in Capital - 400,000

Total Liabilities & Shareholder's Equity - 400,000

Balance Sheet Check Ok Ok

Off-Balance Sheet Items

Cash Flow Statement

Cash Flow from (to) Operations

Cash Flow from (to) Investing

Cash Flow from (to) Financing

Cash Flow available for Financing -

Long-Term Debt Beginning Balance -

Revolver Beginning Balance -

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

70,917 70,917 70,917 74,583 78,250 78,250 78,250 78,250

35,458 35,458 35,458 35,458 39,125 39,125 39,125 39,125

- - - - (3,667) (3,667) (3,667) (3,667)

(500) (500) (500) (500) (500) (500) (500) (500)

- - - - (25) (25) (25) (25)

(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)

(56,383) (56,383) (56,383) (56,383) (60,050) (60,050) (60,050) (50,675)

56,383 56,383 56,383 56,383 60,075 60,075 60,075 50,700

343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142

- - - - 1,500 1,500 1,500 1,500

343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542

400,000 400,000 400,000 400,000 400,000 1,400,000 1,400,000 1,400,000

343,617 287,233 230,850 174,467 114,392 1,054,317 994,242 943,542

56,383 112,767 169,150 225,533 285,608 345,683 405,758 456,458

(56,383) (56,383) (56,383) (56,383) (60,075) (60,075) (60,075) (50,700)

(56,383) (56,383) (56,383) (56,383) (61,550) (60,050) (60,050) (50,675)

343,617 287,233 230,850 174,467 112,917 1,052,867 992,817 942,142

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0% 21.0%

78,250 78,250 131,112 183,974 183,974 183,974 183,974 183,974

- - - 4,792 4,792 4,792 4,792 4,792

- - - 8,146 8,146 8,146 8,146 8,146

- - - 6,875 6,875 6,875 6,875 6,875

- - - 4,583 4,583 4,583 4,583 4,583

39,125 39,125 39,125 91,987 91,987 91,987 91,987 91,987