Bill Snow Financial Model 2004-03-09

Yet another Extremely Valuable Entrepreneurial Resource
from
Bill Snow
"Candid, abrasive, and refreshingly hip."
"You don't see this kind of free stuff on gossip monger sites."
Release date
March 9, 2004
Version 2.1
Please note:
There are "hidden" columns and rows all over the place. Open them up to make adjustments. I've set this thing to print.
I make no assurances this financial model conforms to GAAP. What do you want? It's free!
I am not that happy with the LT Note tab. It is close enough, but not perfect. It is difficult to create a "one size fits all" debt calculator.
While this model should provide entrepreneurs with a good platform, it is not a universal model. You will need to adapt it to your specific model.
While I am happy with this model, it is probably "buggy." There are probably a few errors. If you find one, tell me about it bill@billsnow.com
I have not set this model to calculate inventory and few other things. What do you want? It's free! Figure it out yourself!
You can adjust certain numbers in the Assumptions page to adjust revenue, expenses, and staffing needs. Play around with Blue numbers.
Unless you screw up formulas, the balance sheet should always balance (how cool is that?)
And remember, this is a free resource!
Contact me with comments, "catches," or anything else:

bill@billsnow.com
http://www.billsnow.com
Bill Snow Financial Projections
Assumptions
Selected Financial Highlights

Total Investment
Year 1
$ 1,000,000
Year 2
$ 2,000,000
REVENUE
Subscription
$
Total Transactions $
Company Marketing $
Advertising
$
Total Revenue
$
426,806
101,033
527,839
100%
Cost of Goods Sold
142,692
27%
Gross Profit
385,147
Expenses
Sales & Marketing
Operations
IT
Office & Admin
Depr & Amort
Total expenses
$
92,477
$
101,105
$
672,917
$
240,295
$
1,864
$ 1,108,658
EBIT
(723,511)
-137%
175,112
Net earnings
(751,011)
-142%
EBITDA
(721,647)
-137%
Free Cash Flow
(974,727)
-185%
(655,580)
Year 3
-
100%
$ 7,350,863
$ 2,237,313
$ 1,079,900
$
$ 10,668,076
855,925
19%
73%
$ 3,591,458
18%
$
463,838
$
774,942
$
615,469
$ 1,542,059
$
20,039
$ 3,416,346
81%
19%
0%
0%
19%
127%
46%
0%
210%
$ 3,074,794
$
929,890
$
442,700
$
$ 4,447,383
Year 4
-
100%
$ 11,849,963
$ 3,744,666
$ 1,844,700
$
$ 17,439,329
$ 1,826,898
17%
81%
$ 8,841,177
10%
$
$
$
$
$
$
Year 5
-
100%
$ 16,349,063
$ 5,399,619
$ 2,708,000
$
$ 24,456,682
100%
39,051,488
12,412,520
6,075,300
57,539,308
$ 2,388,465
14%
$ 2,829,924
12%
8,043,905
83%
$ 15,050,863
86%
$ 21,626,757
88%
49,495,403
1,154,913
2,262,468
292,750
2,875,036
49,369
6,634,535
11%
8%
51%
$ 1,625,435
$ 5,251,802
$
413,688
$ 3,937,821
$
113,381
$ 11,342,127
7%
62%
$
$
$
$
$
$
46%
4,724,144
12,094,953
2,341,323
12,049,980
271,394
31,481,794
4%
$ 2,206,642
21%
$ 6,070,735
35%
$ 10,284,630
42%
18,013,609
145,112
3%
$ 1,537,076
14%
$ 3,624,441
21%
$ 6,152,778
25%
10,708,396
195,150
4%
$ 2,256,011
21%
$ 6,157,476
35%
$ 10,398,011
43%
18,285,003
2%
$ 2,390,715
14%
$ 4,858,975
20%
5,853,365
69%
21%
10%
0%
17%
14%
35%
0%
77%
-15%
233,981
69%
21%
10%
0%
21%
3%
27%
0%
1,387,481
3,704,637
346,500
3,454,769
86,741
8,980,128
68%
21%
11%
0%
21%
2%
20%
0%
Total team members

Rev/team member
9
58,649
27
164,718
44
242,456
52
335,372
56
436,726
Markets
Trial Users
Subscribers
Companies
Certificates redeemed
2
29,640
17,072
316
67,355
6
23,896
135,796
1,183
619,926
10
43,892
393,961
2,365
1,491,542
14
63,888
751,578
3,712
2,496,444
18
83,884
1,148,954
5,227
3,599,746
65,273
$ 1,544,694
$ 2,098,675
$ 4,749,390
$ 9,888,365
Year 1
Year 2
Year 3
Year 4
Year 5
Ending cash
5 year total
3,000,000
67%
22%
11%
0%
21%
2%
16%
0%
18
83,884
1,148,954
5,227
3,599,746
5 year total
Development costs*
$
650,000
$
500,000
* Development costs are expensed, and included in IT expense
1,150,000
Assumptions
Assumptions
"Toggle" assumptions - Adjust these assumptions to make changes in the Model
You can change any number that is blue

Stage
Pre Launch
1.0
2.0
3.0
Revenue
0
500,000
2,500,000
10,000,000
25,000,000
Make adjustments to certain assumptions (in blue). For quick reference, use the Selected Financial Highlights to the left
For every employee hired, this amount will be spent of equipment, computers,
$ etc.5,000
Make adjustments here
Annual fee paid by customers
$
25.00
No. of transactions/mo/company during trial phase
1.0
No. of transactions/mo/company during customer phase
0.75
% of trial users will become members
75%
Max. No. of Transactions per company (trail)
50
Max. No. of Transactions per company (customers)
50
Revenue per transaction
$
1.50
Company marketing revenue (per mo per member company)
$
100
% of new companies that will join Company marketing
0%
% of existing companies that will join Company mkting
50%
Accounts Receivable (% of previous mo's rev)
Market Calculator (see the calculator tab)
Beg. Mo
1
7
13
19
25
End Mo.
6
12
18
24
60
3
Mos. Between adding new
market
5.0
5.0
3.0
3.0
3.0
Subscriber Calculator (see the calculator tab)

Beg. Mo
End Mo.
1
7
10
13
25
6
9
12
24
60
150%
Mo. Growth
Rate
75.00%
15.00%
0.00%
0.00%
0.00%
Company Calculator (see the calculator tab)

Beg. Mo.
End. Mo
1
7
10
13
6
9
12
24
Mo. Growth
Rate
50.00%
10.00%
5.00%
2.00%
25
60
1.00%
200
50000
Year
1
2
3
4
5
Start month
# of Trial Users (1st mo)

Max number of users in a mkt
Annual
Attrition
0.00%
25.00%
30.00%
35.00%
40.00%
20 # of companies (1st mo)

5,000 Max companies per market
Annual
Year
Attrition
1
0.00%
2
10.00%
3
15.00%
4
20.00%
5
25.00%
Assumptions
Assumptions
Assumptions
2004
2005
Revenue
Company Stage
Pre Launch
Cost of Goods Sold
EXPENSES
2007
643,549
2.0
2004
Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
2006
186,582
3.0
2005
2008
1,198,043
1,773,387
3.0
2006
24,456,682
3.0
2007
2008
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
3,000.00
2,500.00
2,000.00
2,000.00
2,000.00
0.75
0.75
0.75
0.75
0.75
1.00
1.00
1.00
1.00
1.00
0.15
0.15
0.15
0.15
0.15
2004
2005
2006
2007
2008
one time fee

one time fee
per month per city
per certificate (capped at $100K)
per new subscriber
per certificate
Sales & Marketing

Sales & Mkting - Salaries
Payroll tax
Consumer Mkting
Marketing
Branding
Total Consumer Mkting
Company Mkting
Commissions
Association Mkting
Total Company Mkting
Other Mkting Exp
Trade Show - Chgo
Trade Shows - Other
Meals & Ent
Designer
Promotions/Postage
Travel Expense
Printing
$
$
$
$
3,250.00
1,000.00
$
$
4,350.00
5,250.00
$
$
5,000.00
11,000.00
$
$
5,600.00
17,000.00
Calculated on "revenue" page

Calculated on "revenue" page
per new restaurant

per month per city
25.00
25.00
25.00
25.00
25.00
0.00
500.00
500.00
500.00
500.00
0.00
0.00
10,000.00
10,000.00
10,000.00
0.00
25.00
50.00
50.00
50.00
2,000.00
2,000.00
2,000.00
2,000.00
In May of each year

per month
per employee per month
2,000.00 one time fee (for each new city)
2,000.00
1,000.00
1,000.00
1,000.00
1,000.00
0.00
150.00
150.00
150.00
150.00
100.00
250.00
500.00
500.00
500.00
2,000.00
2,000.00
2,000.00
2,000.00
2,000.00
10.00
10.00
10.00
10.00
10.00
0.25
0.25
0.25
0.25
500.00
1,000.00
2,000.00
2,000.00
2,000.00
100.00
100.00
100.00
100.00
100.00
200.00
200.00
200.00
200.00
200.00
100.00
100.00
100.00
100.00
100.00
400.00
500.00
600.00
600.00
600.00
150.00
200.00
250.00
250.00
250.00
400.00
600.00
750.00
750.00
750.00
0.05
0.04
0.04
0.04
0.04
500.00
600.00
700.00
700.00
700.00
one time fee (for each new city)

per employee per month
per month
Total Other Mkting

Total Sales & Marketing
Operations
Operations - Salaries
Payroll tax
Call Center
Company Support
Customer Support
per month
per month per restaurant
0.25 per month per consumer
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Office & Admin - Salaries
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
100.00
100.00
100.00
100.00
100.00
0.00
0.00
0.00
0.00
0.00
1,000.00
1,500.00
2,500.00
2,500.00
2,500.00
200.00
200.00
200.00
200.00
200.00
0.00
0.00
0.00
0.00
0.00
150.00
200.00
400.00
400.00
400.00
50.00
100.00
100.00
100.00
100.00
50.00
100.00
100.00
100.00
100.00
200.00
250.00
250.00
250.00
250.00
175.00
200.00
250.00
250.00
250.00
100.00
150.00
200.00
200.00
200.00
per month
per month per employee

per month
% of revenue
per month
per month
% of revenue
per month
Calculated in IS
Assumptions
Basic ratios and rates
Interest rate (received)
Interest rate (paid)
Corporate tax rate
Payroll tax expense
Rent - dollar per square foot
$
Square foot per employee, average
Per employee hired (equipment, computers, furniture, etc.)
$
Consumer annual fee
$
Certificates/mo/restaurant (trial phase)
Certificates/mo/restaurants (Customer phase)
% of trial users will become members
Max. No. of Transactions per rest. (trail)
Max. No. of Transactions per rest. (customers)
Revenue per certificate (transaction)
CMS revenue (per mo per member rest.)
% of new rest that will join CMS
% of existing rest that will join CMS
Balance Sheet Assumptions
Accounts Receivable
Accounts payable
Accrued liabilities
Depreciation schedule - Transaction Equipment
Purchase when monthly cost =
100,000
Purchase price
100,000
Monthly cost stays constant at
100,000
0%
10%
40%
7.5%
12
200
5,000
25.00
1.0
0.75
75%
50
50
Make
Make
Make
Make
Make
Make
adjustments
adjustments
adjustments
adjustments
adjustments
adjustments
here
here
here
here
here
here
1.5
100.00
0%
50%
150% of last month's sales

100% of certain expenses (previous mo.)
Rent Calculator
Note:
Rent expense is estimated by multiply the estimated number of employees (at year end) by the average amount of space per
employee. This yields "square foot, cumulative," and is multiplied by the avg rent/square foot to determine est. rent exp
2004
2005
2006
2007
2008
Square footage, cumulative
1,800
5,400
8,800
10,400
11,200
Rent expense
21,600
64,800
105,600
124,800
134,400
Bill Snow Financial Model
Projected Financial Statements

Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Jul-04
Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
2004
10
11
12
Totals
Projected I/S
Starting Cash
Investment
Equity
Debt
Debt/equity added (deducted) in period
Company Stage
REVENUE
Subscription
Transactions - Trial Users
Transactions - Customers
Total Transactions
Company Marketing
Advertising
Total Revenue
459,208
420,940
353,389
303,931
740,119
692,025
563,990
250,000
250,000
500,000
500,000
500,000
Pre Launch
Pre Launch
Pre Launch
Pre Launch
Pre Launch
Pre Launch
425,001
330,581
214,190
138,708
750,000
250,000
1,000,000
1.0
1.0
1.0
1.0
1.0
1.0
1.0
80.9%
8.4%
10.7%
19.1%
0.0%
0.0%
100.0%
300
4,444
7,946
14,085
24,822
43,914
77,990
94,776
116,191
143,372
426,806
44,460
56,573
101,033
527,839
Cost of Goods Sold

Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
Total COGS
5,000
5,000
3,000
150
30
13,180
3,000
347
150
69
3,566
3,000
692
263
138
4,093
3,000
1,295
460
259
5,014
3,000
2,352
805
470
6,627
5,000
5,000
6,000
4,351
1,409
870
22,630
6,000
6,304
2,615
1,261
16,180
6,000
8,669
3,098
1,734
19,500
6,000
11,596
3,720
2,319
23,635
6,000
14,761
4,554
2,952
28,267
10,000
10,000
45,000
50,516
17,072
10,103
142,692
1.9%
1.9%
8.5%
9.6%
3.2%
1.9%
27.0%
Gross Profit
(12,880)
878
3,853
9,070
18,195
21,285
61,809
75,275
92,556
115,105
385,147
73.0%
500
4,100
6,100
250
100
1,850
375
10,100
11,975
575
100
2,175
2,000
150
1,350
100
5,100
6,917
519
2,775
4,100
17,310
6,917
519
1,625
100
11,660
6,917
519
1,800
100
11,835
6,917
519
2,050
100
12,085
6,917
519
2,100
100
12,385
36,583
2,744
13,400
19,000
92,477
6.9%
0.5%
2.5%
3.6%
17.5%
3,333
250
3,583
3,333
250
3,583
3,333
250
2,000
200
50
5,833
3,333
250
2,000
300
125
6,008
3,333
250
2,000
450
256
6,290
3,333
250
2,000
680
486
6,750
3,333
250
2,000
1,020
889
7,492
3,333
250
2,000
1,730
1,643
8,956
3,333
250
2,000
1,980
2,458
10,021
3,333
250
2,000
2,300
3,440
11,323
3,333
250
2,000
2,720
4,648
12,951
6,667
500
2,000
3,160
5,987
18,314
43,333
3,250
20,000
14,540
19,982
101,105
8.2%
0.6%
3.8%
2.8%
3.8%
19.2%
33,333
33,333
33,333
33,333
500
33,333
33,833
500
33,333
33,833
500
33,333
33,833
500
33,333
33,833
500
75,000
75,500
3,333
250
500
75,000
79,083
3,333
250
500
75,000
79,083
3,333
250
500
75,000
79,083
3,333
250
500
75,000
79,083
3,333
250
500
75,000
79,083
16,667
1,250
5,000
650,000
672,917
3.2%
0.2%
0.9%
123.1%
127.5%
100
200
100
400
150
400
500
100
1,000
200
150
50
50
200
175
100
3,875
-
100
200
100
400
150
400
500
100
1,000
200
150
50
50
200
175
100
3,875
-
100
200
100
400
150
400
15
500
100
0
1,000
200
1,800
150
50
50
200
175
100
5,690
-
100
200
100
400
150
400
222
500
100
4
1,000
200
1,800
150
50
50
200
175
100
5,902
-
100
200
100
400
150
400
397
500
100
8
1,000
200
1,800
150
50
50
200
175
100
6,080
-
100
200
100
400
150
400
704
500
100
14
1,000
200
1,800
150
50
50
200
175
100
6,393
-
10,833
813
500
1,000
500
2,000
750
400
1,241
500
500
25
1,000
1,000
1,800
750
250
250
1,000
875
500
26,487
-
10,833
813
800
1,600
800
3,200
1,200
400
2,196
500
800
44
1,000
1,600
1,800
1,200
400
400
1,600
1,400
800
33,385
238
10,833
813
800
1,600
800
3,200
1,200
400
3,899
500
800
78
1,000
1,600
1,800
1,200
400
400
1,600
1,400
800
35,123
414
10,833
813
800
1,600
800
3,200
1,200
400
4,739
500
800
95
1,000
1,600
1,800
1,200
400
400
1,600
1,400
800
35,979
409
10,833
813
800
1,600
800
3,200
1,200
400
5,810
500
800
116
1,000
1,600
1,800
1,200
400
400
1,600
1,400
800
37,072
404
10,833
813
900
1,800
900
3,600
1,350
400
7,169
500
900
143
1,000
1,800
1,800
1,350
450
450
1,800
1,575
900
40,433
399
65,000
4,875
5,200
10,400
5,200
20,800
7,800
4,800
26,392
6,000
5,200
528
12,000
10,400
18,000
7,800
2,600
2,600
10,400
9,100
5,200
240,295
1,864
12.3%
0.9%
1.0%
2.0%
1.0%
3.9%
1.5%
0.9%
5.0%
1.1%
1.0%
0.1%
2.3%
2.0%
3.4%
1.5%
0.5%
0.5%
2.0%
1.7%
1.0%
45.5%
0.4%
EXPENSES
Sales & Marketing
Payroll tax
Total Other Mkting
Operations
Payroll tax
Call Center
Company Support
Customer Support
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
Total Office & Admin
Depreciation
Amortization
Total Expenses
EBIT
Interest Expense
Interest Income
EBT
Allowance for tax
Net earnings
Adjustments
Interest, net
Tax
Deprec & Amort
Total adjustments
EBITDA
Free Cash Flow
300
300
-
3,750
525
169
694
-
6,563
920
464
1,384
-
11,494
1,610
981
2,591
-
20,119
2,817
1,887
4,704
-
35,213
5,231
3,471
8,702
-
65,381
6,195
6,413
12,608
-
77,438
7,440
9,898
17,338
-
93,000
9,108
14,083
23,191
-
113,850
10,316
19,206
29,522
-
40,792
(40,792)
-
40,792
(40,792)
(2,500)
51,457
(64,337)
(2,500)
47,593
(46,716)
(2,500)
58,178
(54,325)
(2,500)
49,151
(40,081)
(2,500)
114,579
(96,383)
(2,500)
138,974
(117,689)
(2,500)
136,302
(74,493)
(2,500)
138,630
(63,355)
(2,500)
141,595
(49,039)
(2,500)
150,615
(35,510)
(2,500)
(40,792)
(40,792)
(43,292)
(43,292)
(66,837)
(66,837)
(49,216)
(49,216)
(56,825)
(56,825)
(42,581)
(42,581)
(98,883)
(98,883)
(120,189)
(120,189)
(76,993)
(76,993)
(65,855)
(65,855)
(51,539)
(51,539)
(38,010)
(38,010)
1,108,658
210.0%
(723,511) -137.1%
(27,500)
-5.2%
0.0%
(751,011) -142.3%
0.0%
(751,011) -142.3%
(40,792)
(40,792)
2,500
2,500
(40,792)
(38,268)
2,500
2,500
(64,337)
(67,551)
2,500
2,500
(46,716)
(49,457)
2,500
2,500
(54,325)
(63,813)
2,500
2,500
(40,081)
(48,093)
2,500
2,500
(96,383)
(128,036)
2,500
238
2,738
(117,451)
(138,988)
2,500
414
2,914
(74,079)
(94,420)
2,500
409
2,909
(62,946)
(116,391)
2,500
404
2,904
(48,635)
(75,481)
2,500
399
2,899
(35,111)
(73,435)
0.0%
27,500
5.2%
0.0%
1,864
0.4%
29,364
5.6%
(721,647) -136.7%
(974,727) -184.7%

Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Jul-04
Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
2004
10
11
12
Totals
Projected B/S
ASSETS
Current assets
Cash
A/R
Prepaid exp
Inventory
Other current assets
Total current assets
Property/equip, net
Other LT assets
Goodwill, net
Total assets
459,208
459,208
459,208
420,940
420,940
420,940
353,389
353,389
353,389
303,931
450
304,381
304,381
740,119
6,666
746,784
746,784
692,025
11,919
703,944
703,944
563,990
21,127
585,116
20,000
605,116
425,001
37,234
462,235
34,762
496,997
330,581
65,871
396,453
34,348
430,801
214,190
116,984
331,174
33,939
365,113
138,708
142,163
280,872
33,535
314,407
65,273
174,287
239,560
38,136
277,696
65,273
174,287
239,560
38,136
277,696
LIABILITIES
Current Liabilities
A/P
Other Current Liab
Total current liabilities
LT Note
Total liabilities
250,000
250,000
5,738
5,738
249,286
255,023
5,738
5,738
248,571
254,309
6,660
6,660
247,857
254,518
6,602
6,602
247,143
253,745
7,058
7,058
246,429
253,486
7,827
7,827
245,714
253,542
20,611
20,611
245,000
265,611
32,122
32,122
244,286
276,408
33,004
33,004
243,571
276,575
34,550
34,550
242,857
277,407
36,564
36,564
242,143
278,706
36,564
36,564
242,143
36,564
250,000
(40,792)
209,208
250,000
(84,083)
165,917
250,000
(150,920)
99,080
250,000
(200,136)
49,864
750,000
(256,961)
493,039
750,000
(299,542)
450,458
750,000
(398,425)
351,575
750,000
(518,614)
231,386
750,000
(595,607)
154,393
750,000
(661,462)
88,538
750,000
(713,001)
36,999
750,000
(751,011)
(1,011)
750,000
(751,011)
(1,011)
459,208
420,940
353,389
304,381
746,784
703,944
605,116
496,997
430,801
365,113
314,407
277,696
277,696
(40,792)
(43,292)
(66,837)
(49,216)
(56,825)
(42,581)
(98,883)
(76,993)
(65,855)
(51,539)
(38,010)
EQUITY
Capital
Retained earnings
Total equity
Total liabilities and equity
Projected CFS
Cash Flow from Operations
Net Income
Adjustments
Depreciation
Amortization
Change in inventory
Change in A/R
Change in A/P
Cash from operations
Cash Flow from Investing
Purchase/sale of equip
Acquisitions
Cash from Investing Activities
(40,792)
5,738
(37,554)
(66,837)
(450)
923
(48,743)
(6,216)
(58)
(63,098)
(5,253)
455
(47,379)
(120,189)
238
(9,208)
770
(107,322)
(16,107)
12,784
(123,274)
414
(28,638)
11,511
(93,706)
409
(51,113)
882
(115,677)
404
(25,179)
1,547
(74,767)
399
(751,011)
(32,123)
2,013
(67,721)
1,864
(174,287)
36,564
(886,869)
(20,000)
(15,000)
(5,000)
(40,000)
(20,000)
(15,000)
(5,000)
(40,000)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
750,000
242,143
992,143
740,119
(48,093)
692,025
692,025
(128,036)
563,990
563,990
(138,988)
425,001
425,001
(94,420)
330,581
330,581
(116,391)
214,190
214,190
(75,481)
138,708
138,708
(73,435)
65,273
65,273
65,273
Cash Flow from Financing

Proceeds from equity, net
Proceeds from debt, net
Cash from Financing Activities
250,000
250,000
500,000
(714)
(714)
(714)
(714)
(714)
(714)
Beginning cash balance

Increase (decrease) in cash
Ending cash balance
459,208
459,208
459,208
(38,268)
420,940
420,940
(67,551)
353,389
353,389
(49,457)
303,931
500,000
(714)
499,286
303,931
436,187
740,119

Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
2005
13
14
15
16
17
18
19
20
21
22
23
24
Totals
Projected I/S
Starting Cash
65,273
1,847,830
1,784,624
1,695,304
1,573,101
1,509,261
1,451,826
1,403,253
1,380,337
1,385,759
1,408,921
1,446,589
Investment
Equity
2,000,000
Debt
Debt/equity added (deducted) in period2,000,000
2,000,000
2,000,000
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
128,944
12,729
25,009
37,738
19,900
159,113
13,694
32,169
45,862
21,700
171,169
14,939
35,175
50,114
23,500
186,731
16,907
40,275
57,182
26,900
211,331
18,339
44,700
63,039
29,800
229,238
20,847
50,775
71,622
33,900
260,588
22,577
56,250
78,827
37,500
282,206
24,860
61,275
86,135
40,900
310,744
28,346
68,775
97,121
45,900
354,319
30,075
74,550
104,625
49,700
375,938
32,358
80,700
113,058
53,800
186,582
226,675
244,782
270,813
304,170
334,760
376,914
409,241
453,764
508,644
542,796
404,475
35,844
88,725
124,569
59,200
588,244
3,074,794
271,512
658,378
929,890
442,700
4,447,383
5,000
5,000
7,500
18,869
5,158
3,774
45,300
7,500
22,931
6,365
4,586
41,382
7,500
25,057
6,847
5,011
44,415
5,000
5,000
10,000
28,591
7,469
5,718
61,778
10,000
31,520
8,453
6,304
56,277
10,000
35,811
9,170
7,162
62,143
5,000
5,000
12,500
39,413
10,424
7,883
80,219
12,500
43,067
11,288
8,613
75,469
12,500
48,560
12,430
9,712
83,202
5,000
5,000
15,000
52,313
14,173
10,463
101,948
15,000
56,529
15,038
11,306
97,872
15,000
62,285
16,179
12,457
105,920
20,000
20,000
135,000
464,945
122,992
92,989
855,925
0.4%
0.4%
3.0%
10.5%
2.8%
2.1%
19.2%
141,281
185,293
200,367
209,035
247,894
272,617
296,695
333,772
370,562
406,696
444,923
482,324
3,591,458
80.8%
13,917
1,044
3,550
6,575
29,335
13,917
1,044
2,400
3,575
24,685
13,917
1,044
2,375
3,575
24,860
19,750
1,481
3,700
7,625
38,006
19,750
1,481
3,475
24,625
55,031
19,750
1,481
4,025
4,625
35,581
22,750
1,706
4,325
7,800
43,281
22,750
1,706
4,175
4,800
40,331
22,750
1,706
5,000
4,975
41,331
22,750
1,706
4,925
7,975
45,506
22,750
1,706
5,050
4,975
42,631
22,750
1,706
5,675
4,975
43,256
237,500
17,813
48,675
86,100
463,838
5.3%
0.4%
1.1%
1.9%
10.4%
30,000
2,250
2,000
3,980
7,679
45,909
30,000
2,250
2,000
4,340
9,431
48,021
30,000
2,250
2,000
4,690
11,350
50,290
30,000
2,250
2,000
5,370
13,536
53,156
30,000
2,250
2,000
5,960
15,872
56,082
30,000
2,250
2,000
6,770
18,553
59,573
30,000
2,250
2,000
7,500
21,397
63,147
30,000
2,250
2,000
8,170
24,512
66,932
34,167
2,563
2,000
9,170
28,037
75,936
34,167
2,563
2,000
9,940
31,674
80,344
34,167
2,563
2,000
10,760
35,582
85,071
34,167
2,563
2,000
11,830
39,923
90,482
376,667
28,250
24,000
88,480
257,546
774,942
8.5%
0.6%
0.5%
2.0%
5.8%
17.4%
4,583
344
1,000
41,667
47,594
4,583
344
1,000
41,667
47,594
4,583
344
1,000
41,667
47,594
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
9,167
688
1,000
41,667
52,521
96,250
7,219
12,000
500,000
615,469
2.2%
0.2%
0.3%
11.2%
13.8%
37,917
2,844
1,900
3,800
1,900
9,500
3,800
600
7,463
600
1,900
19
1,500
3,800
5,400
3,800
1,900
1,900
4,750
3,800
2,850
101,942
454
37,917
2,844
1,900
3,800
1,900
9,500
3,800
600
9,067
600
1,900
23
1,500
3,800
5,400
3,800
1,900
1,900
4,750
3,800
2,850
103,550
1,580
37,917
2,844
1,900
3,800
1,900
9,500
3,800
600
9,791
600
1,900
24
1,500
3,800
5,400
3,800
1,900
1,900
4,750
3,800
2,850
104,276
1,561
45,833
3,438
2,500
5,000
2,500
12,500
5,000
600
10,833
600
2,500
27
1,500
5,000
5,400
5,000
2,500
2,500
6,250
5,000
3,750
128,230
1,542
45,833
3,438
2,500
5,000
2,500
12,500
5,000
600
12,167
600
2,500
30
1,500
5,000
5,400
5,000
2,500
2,500
6,250
5,000
3,750
129,568
1,881
45,833
3,438
2,500
5,000
2,500
12,500
5,000
600
13,390
600
2,500
33
1,500
5,000
5,400
5,000
2,500
2,500
6,250
5,000
3,750
130,795
1,859
45,833
3,438
2,600
5,200
2,600
13,000
5,200
600
15,077
600
2,600
38
1,500
5,200
5,400
5,200
2,600
2,600
6,500
5,200
3,900
134,885
1,836
45,833
3,438
2,600
5,200
2,600
13,000
5,200
600
16,370
600
2,600
41
1,500
5,200
5,400
5,200
2,600
2,600
6,500
5,200
3,900
136,181
1,874
45,833
3,438
2,700
5,400
2,700
13,500
5,400
600
18,151
600
2,700
45
1,500
5,400
5,400
5,400
2,700
2,700
6,750
5,400
4,050
140,367
1,852
45,833
3,438
2,700
5,400
2,700
13,500
5,400
600
20,346
600
2,700
51
1,500
5,400
5,400
5,400
2,700
2,700
6,750
5,400
4,050
142,567
1,889
45,833
3,438
2,700
5,400
2,700
13,500
5,400
600
21,712
600
2,700
54
1,500
5,400
5,400
5,400
2,700
2,700
6,750
5,400
4,050
143,937
1,867
45,833
3,438
2,700
5,400
2,700
13,500
5,400
600
23,530
600
2,700
59
1,500
5,400
5,400
5,400
2,700
2,700
6,750
5,400
4,050
145,759
1,845
526,250
39,469
29,200
58,400
29,200
146,000
58,400
7,200
177,895
7,200
29,200
445
18,000
58,400
64,800
58,400
29,200
29,200
73,000
58,400
43,800
1,542,059
20,039
11.8%
0.9%
0.7%
1.3%
0.7%
3.3%
1.3%
0.2%
4.0%
0.2%
0.7%
0.0%
0.4%
1.3%
1.5%
1.3%
0.7%
0.7%
1.6%
1.3%
1.0%
34.7%
0.5%
225,235
(83,953)
(2,500)
225,430
(40,137)
(2,500)
228,581
(28,214)
(2,500)
273,456
(64,421)
(2,500)
295,083
(47,189)
(2,500)
280,329
(7,712)
(2,500)
295,671
1,024
(2,500)
297,839
35,933
(2,500)
312,006
58,556
(2,500)
322,827
83,869
(2,500)
326,027
118,896
(2,500)
333,863
148,460
(2,500)
3,416,346
175,112
(27,500)
(86,453)
(86,453)
(42,637)
(42,637)
(30,714)
(30,714)
(66,921)
(66,921)
(49,689)
(49,689)
(10,212)
(10,212)
(1,476)
(1,476)
33,433
33,433
56,056
56,056
81,369
81,369
116,396
116,396
145,960
145,960
145,112
145,112
76.8%
3.9%
-0.6%
0.0%
3.3%
0.0%
3.3%
2,500
454
2,954
(83,499)
(217,443)
2,500
1,580
4,080
(38,557)
(63,206)
2,500
1,561
4,061
(26,653)
(89,321)
2,500
1,542
4,042
(62,879)
(122,203)
2,500
1,881
4,381
(45,308)
(63,840)
2,500
1,859
4,359
(5,853)
(57,435)
2,500
1,836
4,336
2,860
(48,573)
2,500
1,874
4,374
37,807
(22,916)
2,500
1,852
4,352
60,408
5,423
2,500
1,889
4,389
85,758
23,161
2,500
1,867
4,367
120,763
37,668
2,500
1,845
4,345
150,305
98,105
30,000
20,039
50,039
195,150
(655,580)
0.0%
0.7%
0.0%
0.5%
1.1%
4.4%
-14.7%
Company Stage
REVENUE
Subscription
Total Transactions
Company Marketing
Advertising
Total Revenue
Cost of Goods Sold
Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
Total COGS
Gross Profit
EXPENSES
Sales & Marketing
Payroll tax
Total Other Mkting
Operations
Payroll tax
Call Center
Company Support
Customer Support
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
Depreciation
Amortization
Total Expenses
EBIT
Interest Expense
Interest Income
EBT
Allowance for tax
Net earnings
Adjustments
Interest, net
Tax
Deprec & Amort
Total adjustments
EBITDA
Free Cash Flow
69.1%
6.1%
14.8%
20.9%
10.0%
0.0%
100.0%

Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
2005
13
14
15
16
17
18
19
20
21
22
23
24
Totals
Projected B/S
ASSETS
Current assets
Cash
A/R
Prepaid exp
Inventory
Property/equip, net
Other LT assets
Goodwill, net
Total assets
1,847,830
215,058
2,062,888
132,682
2,195,570
1,784,624
279,872
2,064,497
131,102
2,195,599
1,695,304
340,012
2,035,316
129,542
2,164,857
1,573,101
367,173
1,940,274
157,999
2,098,274
1,509,261
406,219
1,915,480
156,119
2,071,599
1,451,826
456,255
1,908,081
154,260
2,062,341
1,403,253
502,139
1,905,392
157,424
2,062,816
1,380,337
565,371
1,945,708
155,549
2,101,257
1,385,759
613,861
1,999,621
158,698
2,158,318
1,408,921
680,646
2,089,567
156,808
2,246,376
1,446,589
762,966
2,209,555
154,942
2,364,496
1,544,694
814,193
2,358,887
153,097
2,511,984
1,544,694
814,193
2,358,887
153,097
2,511,984
LIABILITIES
Current Liabilities
A/P
Other Current Liab
LT Note
Total liabilities
41,605
41,605
241,429
283,034
84,985
84,985
240,714
325,700
85,672
85,672
240,000
325,672
86,724
86,724
239,286
326,009
110,452
110,452
238,571
349,023
112,121
112,121
237,857
349,978
114,786
114,786
237,143
351,929
120,509
120,509
236,428
356,937
122,228
122,228
235,714
357,943
129,631
129,631
235,000
364,631
132,070
132,070
234,286
366,356
134,312
134,312
233,571
367,883
134,312
134,312
233,571
134,312
2,750,000
(837,464)
1,912,536
2,750,000
(880,101)
1,869,899
2,750,000
(910,815)
1,839,185
2,750,000
(977,736)
1,772,264
2,750,000
(1,027,425)
1,722,575
2,750,000
(1,037,637)
1,712,363
2,750,000
(1,039,113)
1,710,887
2,750,000
(1,005,680)
1,744,320
2,750,000
(949,624)
1,800,376
2,750,000
(868,256)
1,881,744
2,750,000
(751,859)
1,998,141
2,750,000
(605,899)
2,144,101
2,750,000
(605,899)
2,144,101
2,195,570
2,195,599
2,164,857
2,098,274
2,071,599
2,062,341
2,062,816
2,101,257
2,158,318
2,246,376
2,364,496
2,511,984
2,511,984
33,433
56,056
81,369
116,396
145,960
145,112
1,874
1,852
1,889
1,867
1,845
EQUITY
Capital
Retained earnings
Total equity
Projected CFS
Net Income
Adjustments
Depreciation
Amortization
Change in inventory
Change in A/R
Change in A/P
Acquisitions
(86,453)
454
(40,771)
5,042
(121,729)
(42,637)
1,580
(64,815)
43,380
(62,492)
(30,714)
1,561
(60,140)
687
(88,606)
(66,921)
1,542
(27,161)
1,052
(91,488)
(49,689)
1,881
(39,046)
23,728
(63,126)
(10,212)
1,859
(50,036)
1,669
(56,721)
(1,476)
1,836
(45,884)
2,665
(42,859)
(63,232)
5,723
(22,202)
(48,490)
1,719
11,137
(66,785)
7,403
23,876
(82,319)
2,439
38,382
(51,228)
2,242
98,819
20,039
(639,907)
97,748
(377,008)
(95,000)
(30,000)
(5,000)
(5,000)
(135,000)
(95,000)
(30,000)
(5,000)
(5,000)
(135,000)

2,000,000
(714)
1,999,286

Ending cash balance
65,273
1,782,557
1,847,830
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
(714)
1,847,830
(63,206)
1,784,624
1,784,624
(89,321)
1,695,304
1,695,304
(122,203)
1,573,101
1,573,101
(63,840)
1,509,261
1,509,261
(57,435)
1,451,826
1,451,826
(48,573)
1,403,253
1,403,253
(22,916)
1,380,337
(714)
(714)
1,380,337
5,423
1,385,759
(714)
(714)
1,385,759
23,161
1,408,921
(714)
(714)
1,408,921
37,668
1,446,589
(714)
(714)
1,446,589
98,105
1,544,694
2,000,000
(8,571)
1,991,429
65,273
1,479,420
1,544,694

Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
2006
25
26
27
28
29
30
31
32
33
34
35
36
Totals
Projected I/S
Starting Cash
Investment
Equity
Debt
Company Stage
REVENUE
Subscription
Total Transactions
Company Marketing
Advertising
Total Revenue
1,544,694
1,324,474
1,356,896
1,414,647
1,470,342
1,503,348
1,622,429
1,690,501
1,748,524
1,738,040
1,837,792
1,944,117
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
448,050
37,574
94,725
132,299
63,200
469,669
39,857
101,625
141,482
67,800
498,206
43,343
109,650
152,993
73,100
541,781
45,072
116,025
161,097
77,400
563,400
47,355
122,850
170,205
81,900
591,938
50,841
131,175
182,016
87,500
635,513
52,571
138,075
190,646
92,100
657,131
54,854
144,675
199,529
96,500
685,669
58,340
153,750
212,090
102,500
729,244
60,069
161,025
221,094
107,400
750,863
62,352
168,300
230,652
112,200
7,350,863
618,063
1,619,250
2,237,313
1,079,900
10,668,076
643,549
678,950
724,299
780,278
815,505
861,454
918,258
953,160
1,000,258
1,057,738
1,093,715
779,400
65,838
177,375
243,213
118,300
1,140,913
Cost of Goods Sold

Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
Total COGS
5,000
5,000
14,000
66,149
17,922
13,230
121,301
14,000
70,741
18,787
14,148
117,676
14,000
76,496
19,928
15,299
125,724
5,000
5,000
16,000
80,549
21,671
16,110
144,329
16,000
85,103
22,536
17,021
140,659
16,000
91,008
23,678
18,202
148,887
5,000
5,000
18,000
95,323
25,421
19,065
167,808
18,000
99,764
26,285
19,953
164,002
18,000
100,000
27,427
21,209
166,636
5,000
5,000
20,000
100,000
29,170
22,109
181,279
20,000
100,000
30,035
23,065
173,100
20,000
100,000
31,176
24,321
175,497
20,000
20,000
204,000
1,065,132
294,035
223,731
1,826,898
0.2%
0.2%
1.9%
10.0%
2.8%
2.1%
17.1%
Gross Profit
522,247
561,275
598,575
635,949
674,846
712,566
750,450
789,157
833,623
876,459
920,615
965,416
8,841,177
82.9%
45,000
3,375
5,500
20,900
84,375
47,917
3,594
5,800
18,500
85,410
47,917
3,594
6,175
18,500
85,985
47,917
3,594
6,125
21,500
90,385
47,917
3,594
6,275
58,500
127,535
47,917
3,594
6,775
18,700
88,235
47,917
3,594
6,800
21,700
92,710
47,917
3,594
6,700
18,700
89,810
53,333
4,000
7,525
19,100
96,858
57,917
4,344
7,425
22,300
106,335
57,917
4,344
7,425
19,300
103,335
57,917
4,344
8,025
19,300
103,935
607,500
45,563
80,550
277,000
1,154,913
5.7%
0.4%
0.8%
2.6%
10.8%
84,167
6,313
2,000
12,630
44,369
149,479
84,167
6,313
2,000
13,550
49,049
155,078
84,167
6,313
2,000
14,620
54,184
161,283
84,167
6,313
2,000
15,470
59,412
167,361
84,167
6,313
2,000
16,380
64,878
173,738
89,167
6,688
2,000
17,490
70,771
186,115
89,167
6,688
2,000
18,410
76,703
192,967
89,167
6,688
2,000
19,290
82,843
199,988
89,167
6,688
2,000
20,500
89,308
207,662
89,167
6,688
2,000
21,470
95,771
215,095
89,167
6,688
2,000
22,440
102,441
222,735
89,167
6,688
2,000
23,650
109,463
230,967
1,045,000
78,375
24,000
215,900
899,193
2,262,468
9.8%
0.7%
0.2%
2.0%
8.4%
21.2%
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
18,750
1,406
2,000
22,156
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
250,000
18,750
24,000
292,750
67,500
5,063
3,700
7,400
3,700
22,200
9,250
750
24,133
700
3,700
64
2,500
7,400
8,800
14,800
3,700
3,700
9,250
9,250
7,400
214,960
1,823
70,833
5,313
4,000
8,000
4,000
24,000
10,000
750
25,461
700
4,000
68
2,500
8,000
8,800
16,000
4,000
4,000
10,000
10,000
8,000
228,424
4,003
70,833
5,313
4,000
8,000
4,000
24,000
10,000
750
27,161
700
4,000
72
2,500
8,000
8,800
16,000
4,000
4,000
10,000
10,000
8,000
230,129
4,134
70,833
5,313
4,000
8,000
4,000
24,000
10,000
750
29,260
700
4,000
78
2,500
8,000
8,800
16,000
4,000
4,000
10,000
10,000
8,000
232,234
4,085
70,833
5,313
4,000
8,000
4,000
24,000
10,000
750
30,581
700
4,000
82
2,500
8,000
8,800
16,000
4,000
4,000
10,000
10,000
8,000
233,559
4,036
70,833
5,313
4,100
8,200
4,100
24,600
10,250
750
32,305
700
4,100
86
2,500
8,200
8,800
16,400
4,100
4,100
10,250
10,250
8,200
238,136
3,988
70,833
5,313
4,100
8,200
4,100
24,600
10,250
750
34,435
700
4,100
92
2,500
8,200
8,800
16,400
4,100
4,100
10,250
10,250
8,200
240,272
4,000
70,833
5,313
4,100
8,200
4,100
24,600
10,250
750
35,743
700
4,100
95
2,500
8,200
8,800
16,400
4,100
4,100
10,250
10,250
8,200
241,585
3,953
70,833
5,313
4,300
8,600
4,300
25,800
10,750
750
37,510
700
4,300
100
2,500
8,600
8,800
17,200
4,300
4,300
10,750
10,750
8,600
249,056
3,906
70,833
5,313
4,400
8,800
4,400
26,400
11,000
750
39,665
700
4,400
106
2,500
8,800
8,800
17,600
4,400
4,400
11,000
11,000
8,800
254,067
5,169
70,833
5,313
4,400
8,800
4,400
26,400
11,000
750
41,014
700
4,400
109
2,500
8,800
8,800
17,600
4,400
4,400
11,000
11,000
8,800
255,419
5,167
70,833
5,313
4,400
8,800
4,400
26,400
11,000
750
42,784
700
4,400
114
2,500
8,800
8,800
17,600
4,400
4,400
11,000
11,000
8,800
257,194
5,105
846,667
63,500
49,500
99,000
49,500
297,000
123,750
9,000
400,053
8,400
49,500
1,067
30,000
99,000
105,600
198,000
49,500
49,500
123,750
123,750
99,000
2,875,036
49,369
7.9%
0.6%
0.5%
0.9%
0.5%
2.8%
1.2%
0.1%
3.8%
0.1%
0.5%
0.0%
0.3%
0.9%
1.0%
1.9%
0.5%
0.5%
1.2%
1.2%
0.9%
26.9%
0.5%
472,792
49,455
(2,500)
495,072
66,202
(2,500)
503,688
94,887
(2,500)
516,222
119,727
(2,500)
561,024
113,822
(2,500)
538,632
173,935
(2,500)
552,106
198,344
(2,500)
557,492
231,666
(2,500)
586,357
247,266
(2,500)
609,541
266,918
(2,500)
615,532
305,083
(2,500)
626,077
339,339
(2,500)
6,634,535
2,206,642
(27,500)
46,955
18,782
28,173
63,702
63,702
92,387
92,387
117,227
117,227
111,322
111,322
171,435
171,435
195,844
69,676
126,168
229,166
91,666
137,499
244,766
97,906
146,859
264,418
105,767
158,651
302,583
121,033
181,550
336,839
134,735
202,103
2,176,642
639,567
1,537,076
62.2%
20.7%
-0.3%
0.0%
20.4%
6.0%
14.4%
2,500
4,003
6,503
70,206
32,423
2,500
4,134
6,634
99,021
57,751
2,500
4,085
6,585
123,812
55,695
2,500
4,036
6,536
117,858
33,007
2,500
3,988
6,488
177,923
119,080
2,500
69,676
4,000
76,176
202,344
68,073
2,500
91,666
3,953
98,119
235,619
58,022
2,500
97,906
3,906
104,312
251,171
(10,483)
2,500
105,767
5,169
113,436
272,087
99,751
2,500
121,033
5,167
128,700
310,250
106,325
2,500
134,735
5,105
142,341
344,444
154,558
30,000
639,567
49,369
718,935
2,256,011
233,981
0.0%
0.3%
6.0%
0.5%
6.7%
21.1%
2.2%
EXPENSES
Sales & Marketing
Payroll tax
Total Other Mkting
Operations
Payroll tax
Call Center
Company Support
Customer Support
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
Depreciation
Amortization
Total Expenses
EBIT
Interest Expense
Interest Income
EBT
Allowance for tax
Net earnings
Adjustments
Interest, net
Tax
Deprec & Amort
Total adjustments
EBITDA
Free Cash Flow
2,500
18,782
1,823
23,105
51,278
(220,220)
68.9%
5.8%
15.2%
21.0%
10.1%
0.0%
100.0%
2.3%
0.2%
0.2%
0.0%
2.7%

Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
2006
25
26
27
28
29
30
31
32
33
34
35
36
Totals
Projected B/S
ASSETS
Current assets
Cash
A/R
Prepaid exp
Inventory
Property/equip, net
Other LT assets
Goodwill, net
Total assets
1,324,474
882,366
2,206,840
336,275
2,543,114
1,356,896
965,323
2,322,219
347,271
2,669,490
1,414,647
1,018,425
2,433,072
343,137
2,776,209
1,470,342
1,086,448
2,556,790
339,052
2,895,842
1,503,348
1,170,417
2,673,766
335,016
3,008,782
1,622,429
1,223,258
2,845,686
336,027
3,181,714
1,690,501
1,292,180
2,982,682
332,027
3,314,709
1,748,524
1,377,387
3,125,911
328,074
3,453,985
1,738,040
1,429,740
3,167,780
434,169
3,601,949
1,837,792
1,500,387
3,338,179
434,000
3,772,179
1,944,117
1,586,607
3,530,723
428,833
3,959,557
2,098,675
1,640,572
3,739,246
423,728
4,162,975
2,098,675
1,640,572
3,739,246
423,728
4,162,975
LIABILITIES
Current Liabilities
A/P
Other Current Liab
LT Note
Total liabilities
137,983
137,983
232,857
370,840
201,371
201,371
232,143
433,514
216,418
216,418
231,428
447,846
219,538
219,538
230,714
450,252
221,870
221,870
230,000
451,870
224,082
224,082
229,286
453,368
231,623
231,623
228,571
460,195
234,115
234,115
227,857
461,972
235,933
235,933
227,143
463,076
248,227
248,227
226,428
474,656
254,769
254,769
225,714
480,483
256,798
256,798
225,000
481,798
256,798
256,798
225,000
256,798
2,750,000
(577,726)
2,172,274
2,750,000
(514,024)
2,235,976
2,750,000
(421,637)
2,328,363
2,750,000
(304,410)
2,445,590
2,750,000
(193,089)
2,556,911
2,750,000
(21,654)
2,728,346
2,750,000
104,514
2,854,514
2,750,000
242,014
2,992,014
2,750,000
388,873
3,138,873
2,750,000
547,524
3,297,524
2,750,000
729,074
3,479,074
2,750,000
931,177
3,681,177
2,750,000
931,177
3,681,177
2,543,114
2,669,490
2,776,209
2,895,842
3,008,782
3,181,714
3,314,709
3,453,985
3,601,949
3,772,179
3,959,557
4,162,975
4,162,975
28,173
63,702
92,387
117,227
111,322
171,435
126,168
137,499
146,859
158,651
181,550
202,103
1,537,076
1,823
4,003
4,134
4,085
4,036
3,988
4,000
3,953
3,906
5,169
5,167
5,105
EQUITY
Capital
Retained earnings
Total equity
Projected CFS
Net Income
Adjustments
Depreciation
Amortization
Change in inventory
Change in A/R
Change in A/P
Acquisitions
Ending cash balance
(68,173)
3,671
(34,506)
(82,957)
63,388
48,137
(185,000)
(15,000)
(5,000)
(185,000)
(15,000)
(5,000)
(714)
(714)
(714)
(714)
1,544,694
(220,220)
1,324,474
1,324,474
32,423
1,356,896
(53,103)
15,047
58,465
(714)
(714)
1,356,896
57,751
1,414,647
(68,023)
3,120
56,409
(714)
(714)
1,414,647
55,695
1,470,342
(83,969)
2,332
33,721
(714)
(714)
1,470,342
33,007
1,503,348
(52,840)
2,212
124,795
(714)
(714)
1,503,348
119,080
1,622,429
(68,923)
7,541
68,787
(714)
(714)
1,622,429
68,073
1,690,501
(85,207)
2,491
58,737
(70,648)
12,294
105,466
(110,000)
(5,000)
(320,000)
(110,000)
(5,000)
(320,000)
(714)
(714)
(714)
(714)
(714)
(714)
1,690,501
58,022
1,748,524
1,748,524
(10,483)
1,738,040
1,738,040
99,751
1,837,792
(86,219)
6,542
107,039
(714)
(714)
1,837,792
106,325
1,944,117
(53,965)
2,029
155,272
49,369
(826,379)
122,486
882,552
(52,353)
1,818
100,231
(714)
(714)
1,944,117
154,558
2,098,675
(8,571)
(8,571)
1,544,694
553,981
2,098,675

Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
2007
37
38
39
40
41
42
43
44
45
46
47
48
Totals
Projected I/S
Starting Cash
Investment
Equity
Debt
Company Stage
REVENUE
Subscription
Total Transactions
Company Marketing
Advertising
Total Revenue
Cost of Goods Sold
Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
Total COGS
Gross Profit
EXPENSES
Sales & Marketing
Payroll tax
Total Other Mkting
Operations
Payroll tax
Call Center
Company Support
Customer Support
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
Depreciation
Amortization
Total Expenses
EBIT
Interest Expense
Interest Income
EBT
Allowance for tax
Net earnings
Adjustments
Interest, net
Tax
Deprec & Amort
Total adjustments
EBITDA
Free Cash Flow
2,098,675
2,023,629
2,185,708
2,393,930
2,604,571
2,747,010
3,010,732
3,255,455
3,505,517
3,807,686
4,090,969
4,398,285
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
822,975
67,568
184,500
252,068
123,000
844,594
69,851
192,525
262,376
128,400
873,131
73,337
201,675
275,012
134,500
916,706
75,066
209,175
284,241
139,500
938,325
77,349
217,050
294,399
144,700
966,863
80,835
226,275
307,110
150,900
1,010,438
82,565
234,150
316,715
156,100
1,032,056
84,848
241,875
326,723
161,300
1,060,594
88,334
252,000
340,334
168,000
1,104,169
90,063
260,400
350,463
173,600
1,125,788
92,346
268,650
360,996
179,100
1,198,043
1,235,369
1,282,643
1,340,447
1,377,424
1,424,873
1,483,252
1,520,079
1,568,927
1,628,232
1,665,884
1,154,325
95,832
278,400
374,232
185,600
1,714,157
11,849,963
977,991
2,766,675
3,744,666
1,844,700
17,439,329
5,000
5,000
22,000
100,000
32,919
25,207
190,126
22,000
100,000
33,784
26,238
182,021
22,000
100,000
34,925
27,501
184,426
5,000
5,000
24,000
100,000
36,668
28,424
199,092
24,000
100,000
37,533
29,440
190,973
24,000
100,000
38,675
30,711
193,386
5,000
5,000
26,000
100,000
40,418
31,671
208,089
26,000
100,000
41,282
32,672
199,955
26,000
100,000
42,424
34,033
202,457
5,000
5,000
28,000
100,000
44,167
35,046
217,213
28,000
100,000
45,032
36,100
209,131
28,000
100,000
46,173
37,423
211,596
20,000
20,000
300,000
1,200,000
473,999
374,467
2,388,465
0.1%
0.1%
1.7%
6.9%
2.7%
2.1%
13.7%
1,007,917
1,053,348
1,098,216
1,141,355
1,186,451
1,231,487
1,275,163
1,320,124
1,366,470
1,411,019
1,456,752
1,502,561
15,050,863
86.3%
57,917
4,344
7,875
22,500
108,635
57,917
4,344
8,175
19,500
105,935
57,917
4,344
8,550
19,500
106,310
57,917
4,344
8,500
22,500
110,910
57,917
4,344
8,625
60,500
149,035
57,917
4,344
9,075
20,500
109,485
57,917
4,344
9,125
23,500
114,185
57,917
4,344
9,075
20,500
111,135
57,917
4,344
9,875
20,500
111,935
62,500
4,688
9,800
23,900
121,838
62,500
4,688
9,750
20,900
118,788
62,500
4,688
10,250
20,900
119,288
708,750
53,156
108,675
295,200
1,387,481
4.1%
0.3%
0.6%
1.7%
8.0%
94,167
7,063
2,000
24,600
116,474
244,303
94,167
7,063
2,000
25,670
123,649
252,548
94,167
7,063
2,000
26,890
131,202
261,322
94,167
7,063
2,000
27,890
138,730
269,849
114,167
8,563
2,000
28,940
146,428
300,097
114,167
8,563
2,000
30,170
154,470
309,369
114,167
8,563
2,000
31,220
162,422
318,371
114,167
8,563
2,000
32,250
170,510
327,489
114,167
8,563
2,000
33,600
178,822
337,151
119,167
8,938
2,000
34,720
186,995
351,819
119,167
8,938
2,000
35,820
195,303
361,227
119,167
8,938
2,000
37,120
203,866
371,091
1,305,000
97,875
24,000
368,890
1,908,872
3,704,637
7.5%
0.6%
0.1%
2.1%
10.9%
21.2%
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
300,000
22,500
24,000
346,500
70,833
5,313
4,500
9,000
4,500
27,000
11,250
750
44,927
700
4,500
120
2,500
9,000
10,400
18,000
4,500
4,500
11,250
11,250
9,000
263,792
5,044
70,833
5,313
4,500
9,000
4,500
27,000
11,250
750
46,326
700
4,500
124
2,500
9,000
10,400
18,000
4,500
4,500
11,250
11,250
9,000
265,196
7,663
70,833
5,313
4,500
9,000
4,500
27,000
11,250
750
48,099
700
4,500
128
2,500
9,000
10,400
18,000
4,500
4,500
11,250
11,250
9,000
266,973
7,572
70,833
5,313
4,500
9,000
4,500
27,000
11,250
750
50,267
700
4,500
134
2,500
9,000
10,400
18,000
4,500
4,500
11,250
11,250
9,000
269,147
7,482
75,833
5,688
5,000
10,000
5,000
30,000
12,500
750
51,653
700
5,000
138
2,500
10,000
10,400
20,000
5,000
5,000
12,500
12,500
10,000
290,162
7,392
75,833
5,688
5,000
10,000
5,000
30,000
12,500
750
53,433
700
5,000
142
2,500
10,000
10,400
20,000
5,000
5,000
12,500
12,500
10,000
291,946
7,602
75,833
5,688
5,000
10,000
5,000
30,000
12,500
750
55,622
700
5,000
148
2,500
10,000
10,400
20,000
5,000
5,000
12,500
12,500
10,000
294,141
7,512
75,833
5,688
5,000
10,000
5,000
30,000
12,500
750
57,003
700
5,000
152
2,500
10,000
10,400
20,000
5,000
5,000
12,500
12,500
10,000
295,526
7,422
75,833
5,688
5,000
10,000
5,000
30,000
12,500
750
58,835
700
5,000
157
2,500
10,000
10,400
20,000
5,000
5,000
12,500
12,500
10,000
297,362
7,334
75,833
5,688
5,200
10,400
5,200
31,200
13,000
750
61,059
700
5,200
163
2,500
10,400
10,400
20,800
5,200
5,200
13,000
13,000
10,400
305,292
7,246
75,833
5,688
5,200
10,400
5,200
31,200
13,000
750
62,471
700
5,200
167
2,500
10,400
10,400
20,800
5,200
5,200
13,000
13,000
10,400
306,708
7,279
75,833
5,688
5,200
10,400
5,200
31,200
13,000
750
64,281
700
5,200
171
2,500
10,400
10,400
20,800
5,200
5,200
13,000
13,000
10,400
308,523
7,193
890,000
66,750
58,600
117,200
58,600
351,600
146,500
9,000
653,975
8,400
58,600
1,744
30,000
117,200
124,800
234,400
58,600
58,600
146,500
146,500
117,200
3,454,769
86,741
5.1%
0.4%
0.3%
0.7%
0.3%
2.0%
0.8%
0.1%
3.8%
0.0%
0.3%
0.0%
0.2%
0.7%
0.7%
1.3%
0.3%
0.3%
0.8%
0.8%
0.7%
19.8%
0.5%
650,650
357,266
(2,500)
660,217
393,131
(2,500)
671,052
427,164
(2,500)
686,263
455,092
(2,500)
775,562
410,889
(2,500)
747,278
484,209
(2,500)
763,084
512,079
(2,500)
770,448
549,677
(2,500)
782,658
583,812
(2,500)
815,070
595,948
(2,500)
822,877
633,876
(2,500)
834,969
667,592
(2,500)
8,980,128
6,070,735
(27,500)
354,766
141,907
212,860
390,631
156,252
234,378
424,664
169,866
254,799
452,592
181,037
271,555
408,389
163,356
245,033
481,709
192,684
289,025
509,579
203,832
305,747
547,177
218,871
328,306
581,312
232,525
348,787
593,448
237,379
356,069
631,376
252,550
378,825
665,092
266,037
399,055
6,040,735
2,416,294
3,624,441
51.5%
34.8%
-0.2%
0.0%
34.6%
13.9%
20.8%
2,500
141,907
5,044
149,451
362,311
(75,046)
2,500
156,252
7,663
166,415
400,793
162,080
2,500
169,866
7,572
179,937
434,736
208,221
2,500
181,037
7,482
191,018
462,574
210,641
2,500
163,356
7,392
173,248
418,281
142,440
2,500
192,684
7,602
202,786
491,811
263,721
2,500
203,832
7,512
213,843
519,591
244,723
2,500
218,871
7,422
228,793
557,099
250,062
2,500
232,525
7,334
242,359
591,146
302,169
2,500
237,379
7,246
247,126
603,195
283,284
2,500
252,550
7,279
262,330
641,155
307,316
2,500
266,037
7,193
275,729
674,785
351,104
30,000
2,416,294
86,741
2,533,035
6,157,476
2,390,715
0.0%
0.2%
13.9%
0.5%
14.5%
35.3%
13.7%
67.9%
5.6%
15.9%
21.5%
10.6%
0.0%
100.0%
1.7%
0.1%
0.1%
0.0%
2.0%

Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
2007
37
38
39
40
41
42
43
44
45
46
47
48
Totals
Projected B/S
ASSETS
Current assets
Cash
A/R
Prepaid exp
Inventory
Property/equip, net
Other LT assets
Goodwill, net
Total assets
2,023,629
1,711,370
3,734,998
643,684
4,378,682
2,185,708
1,797,064
3,982,772
636,021
4,618,793
2,393,930
1,853,054
4,246,984
628,449
4,875,433
2,604,571
1,923,964
4,528,535
620,968
5,149,503
2,747,010
2,010,671
4,757,681
638,575
5,396,257
3,010,732
2,066,136
5,076,868
630,973
5,707,841
3,255,455
2,137,309
5,392,763
623,462
6,016,225
3,505,517
2,224,878
5,730,395
616,039
6,346,434
3,807,686
2,280,118
6,087,804
608,706
6,696,509
4,090,969
2,353,391
6,444,360
611,459
7,055,819
4,398,285
2,442,348
6,840,633
604,180
7,444,813
4,749,390
2,498,825
7,248,215
596,987
7,845,202
4,749,390
2,498,825
7,248,215
596,987
7,845,202
LIABILITIES
Current Liabilities
A/P
Other Current Liab
LT Note
Total liabilities
260,360
260,360
224,286
484,646
266,807
266,807
223,571
490,378
269,362
269,362
222,857
492,219
272,591
272,591
222,143
494,734
275,026
275,026
221,428
496,455
298,299
298,299
220,714
519,013
301,650
301,650
220,000
521,650
304,268
304,268
219,286
523,553
306,270
306,270
218,571
524,841
310,225
310,225
217,857
528,082
321,107
321,107
217,143
538,250
323,156
323,156
216,428
539,584
323,156
323,156
216,428
323,156
2,750,000
1,144,037
3,894,037
2,750,000
1,378,415
4,128,415
2,750,000
1,633,214
4,383,214
2,750,000
1,904,769
4,654,769
2,750,000
2,149,802
4,899,802
2,750,000
2,438,828
5,188,828
2,750,000
2,744,575
5,494,575
2,750,000
3,072,881
5,822,881
2,750,000
3,421,668
6,171,668
2,750,000
3,777,737
6,527,737
2,750,000
4,156,563
6,906,563
2,750,000
4,555,618
7,305,618
2,750,000
4,555,618
7,305,618
4,378,682
4,618,793
4,875,433
5,149,503
5,396,257
5,707,841
6,016,225
6,346,434
6,696,509
7,055,819
7,444,813
7,845,202
7,845,202
212,860
234,378
254,799
271,555
245,033
289,025
305,747
328,306
348,787
356,069
378,825
399,055
3,624,441
5,044
7,663
7,572
7,482
7,392
7,602
7,512
7,422
7,334
7,246
7,279
7,193
EQUITY
Capital
Retained earnings
Total equity
Projected CFS
Net Income
Adjustments
Depreciation
Amortization
Change in inventory
Change in A/R
Change in A/P
Acquisitions
Ending cash balance
(70,798)
3,562
150,668
(85,694)
6,447
162,794
(55,990)
2,555
208,935
(70,910)
3,229
211,355
(86,707)
2,435
168,154
(55,465)
23,273
264,435
(71,173)
3,351
245,437
(87,569)
2,618
250,776
(55,240)
2,002
302,883
(73,273)
3,955
293,998
(88,957)
10,882
308,030
(56,478)
2,049
351,819
86,741
(858,254)
66,358
2,919,287
(225,000)
(25,000)
(10,000)
(260,000)
(225,000)
(25,000)
(10,000)
(260,000)
(714)
(714)
2,098,675
(75,046)
2,023,629
(714)
(714)
2,023,629
162,080
2,185,708
(714)
(714)
2,185,708
208,221
2,393,930
(714)
(714)
2,393,930
210,641
2,604,571
(714)
(714)
2,604,571
142,440
2,747,010
(714)
(714)
2,747,010
263,721
3,010,732
(714)
(714)
3,010,732
244,723
3,255,455
(714)
(714)
3,255,455
250,062
3,505,517
(714)
(714)
3,505,517
302,169
3,807,686
(714)
(714)
3,807,686
283,284
4,090,969
(714)
(714)
4,090,969
307,316
4,398,285
(714)
(714)
4,398,285
351,104
4,749,390
(8,571)
(8,571)
2,098,675
2,650,715
4,749,390

Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
2008
49
50
51
52
53
54
55
56
57
58
59
60
Totals
Projected I/S
Starting Cash
Investment
Equity
Debt
Company Stage
REVENUE
Subscription
Total Transactions
Company Marketing
Advertising
Total Revenue
Cost of Goods Sold
Start up costs
Website
Maintenance
Transaction fees
Credit card fees
Network costs
Total COGS
Gross Profit
EXPENSES
Sales & Marketing
Payroll tax
Total Other Mkting
Operations
Payroll tax
Call Center
Company Support
Customer Support
Total Operations
IT
IT - Salaries
Payroll tax
Hosting
Development
Total IT
Office & Admin
Payroll Taxes
Ins - P & C
Ins - W/C
Ins - Disability
Health Ins
Life Ins
Ins - D&O
Professional Fees
Gen Liability Ins
Payroll Service
Dues & Subs
HR Recruiting
Misc. Office Exp
Rent Expense
Equipment Rental
Office Supplies
Postage
Telephone
Utilities
Vehicle Expense
Depreciation
Amortization
Total Expenses
EBIT
Interest Expense
Interest Income
EBT
Allowance for tax
Net earnings
Adjustments
Interest, net
Tax
Deprec & Amort
Total adjustments
EBITDA
Free Cash Flow
4,749,390
4,842,304
5,202,351
5,591,610
6,002,592
6,386,866
6,846,591
7,309,453
7,766,811
8,286,755
8,794,664
9,316,953
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
1,197,900
97,562
286,725
384,287
191,200
1,219,519
99,845
295,875
395,720
197,300
1,248,056
103,331
305,850
409,181
203,900
1,291,631
105,060
314,550
419,610
209,700
1,313,250
107,343
323,400
430,743
215,600
1,341,788
110,829
333,450
444,279
222,300
1,385,363
112,559
342,675
455,234
228,500
1,406,981
114,842
351,300
466,142
234,200
1,435,519
118,328
362,250
480,578
241,500
1,479,094
120,057
372,150
492,207
248,100
1,500,713
122,340
381,450
503,790
254,300
1,773,387
1,812,538
1,861,137
1,920,941
1,959,593
2,008,367
2,069,096
2,107,323
2,157,596
2,219,401
2,258,803
1,529,250
125,826
392,025
517,851
261,400
2,308,501
16,349,063
1,337,919
4,061,700
5,399,619
2,708,000
24,456,682
5,000
5,000
30,000
100,000
47,916
38,429
226,345
30,000
100,000
48,781
39,572
218,353
30,000
100,000
49,922
40,918
220,840
5,000
5,000
32,000
100,000
51,665
41,961
235,626
32,000
100,000
52,530
43,074
227,604
32,000
100,000
53,672
44,428
230,099
5,000
5,000
34,000
100,000
55,415
45,523
244,938
34,000
100,000
56,279
46,614
236,893
34,000
100,000
57,421
48,058
239,479
5,000
5,000
36,000
100,000
59,164
49,221
254,384
36,000
100,000
60,029
50,379
246,408
36,000
100,000
61,170
51,785
248,955
20,000
20,000
396,000
1,200,000
653,963
539,962
2,829,924
0.1%
0.1%
1.6%
4.9%
2.7%
2.2%
11.6%
1,547,042
1,594,186
1,640,296
1,685,315
1,731,989
1,778,267
1,824,158
1,870,429
1,918,118
1,965,016
2,012,395
2,059,546
21,626,757
88.4%
62,500
4,688
10,275
23,900
123,963
62,500
4,688
10,550
20,900
121,238
67,917
5,094
10,825
21,300
127,735
67,917
5,094
10,900
24,300
132,460
67,917
5,094
10,950
61,300
169,510
67,917
5,094
11,350
21,300
129,910
67,917
5,094
11,575
24,300
134,785
67,917
5,094
11,375
21,500
131,785
67,917
5,094
12,150
21,500
132,560
72,500
5,438
12,300
24,700
142,488
72,500
5,438
12,100
21,700
139,288
72,500
5,438
12,525
21,700
139,713
817,917
61,344
136,875
308,400
1,625,435
3.3%
0.3%
0.6%
1.3%
6.6%
119,167
8,938
2,000
38,230
212,281
380,615
119,167
8,938
2,000
39,450
220,779
390,333
119,167
8,938
2,000
40,780
229,564
400,448
119,167
8,938
2,000
41,940
238,183
410,227
119,167
8,938
2,000
43,120
246,894
420,118
119,167
8,938
2,000
44,460
255,852
430,416
119,167
8,938
2,000
45,690
264,568
440,363
124,167
9,313
2,000
46,840
273,339
455,658
124,167
9,313
2,000
48,300
282,217
465,996
124,167
9,313
2,000
49,620
290,798
475,898
124,167
9,313
2,000
50,860
299,431
485,770
124,167
9,313
2,000
52,270
308,210
495,959
1,455,000
109,125
24,000
541,560
3,122,117
5,251,802
5.9%
0.4%
0.1%
2.2%
12.8%
21.5%
25,000
1,875
2,000
28,875
25,000
1,875
2,000
28,875
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
31,250
2,344
2,000
35,594
362,500
27,188
24,000
413,688
75,833
5,688
5,200
10,400
5,200
31,200
13,000
750
66,502
700
5,200
177
2,500
10,400
11,200
20,800
5,200
5,200
13,000
13,000
10,400
311,550
7,107
75,833
5,688
5,200
10,400
5,200
31,200
13,000
750
67,970
700
5,200
181
2,500
10,400
11,200
20,800
5,200
5,200
13,000
13,000
10,400
313,022
10,118
75,833
5,688
5,400
10,800
5,400
32,400
13,500
750
69,793
700
5,400
186
2,500
10,800
11,200
21,600
5,400
5,400
13,500
13,500
10,800
320,550
9,997
75,833
5,688
5,400
10,800
5,400
32,400
13,500
750
72,035
700
5,400
192
2,500
10,800
11,200
21,600
5,400
5,400
13,500
13,500
10,800
322,798
9,997
75,833
5,688
5,400
10,800
5,400
32,400
13,500
750
73,485
700
5,400
196
2,500
10,800
11,200
21,600
5,400
5,400
13,500
13,500
10,800
324,252
9,878
75,833
5,688
5,400
10,800
5,400
32,400
13,500
750
75,314
700
5,400
201
2,500
10,800
11,200
21,600
5,400
5,400
13,500
13,500
10,800
326,085
9,761
75,833
5,688
5,400
10,800
5,400
32,400
13,500
750
77,591
700
5,400
207
2,500
10,800
11,200
21,600
5,400
5,400
13,500
13,500
10,800
328,369
9,644
75,833
5,688
5,500
11,000
5,500
33,000
13,750
750
79,025
700
5,500
211
2,500
11,000
11,200
22,000
5,500
5,500
13,750
13,750
11,000
332,656
9,530
75,833
5,688
5,500
11,000
5,500
33,000
13,750
750
80,910
700
5,500
216
2,500
11,000
11,200
22,000
5,500
5,500
13,750
13,750
11,000
334,546
9,476
75,833
5,688
5,600
11,200
5,600
33,600
14,000
750
83,228
700
5,600
222
2,500
11,200
11,200
22,400
5,600
5,600
14,000
14,000
11,200
339,720
9,363
75,833
5,688
5,600
11,200
5,600
33,600
14,000
750
84,705
700
5,600
226
2,500
11,200
11,200
22,400
5,600
5,600
14,000
14,000
11,200
341,202
9,311
75,833
5,688
5,600
11,200
5,600
33,600
14,000
750
86,569
700
5,600
231
2,500
11,200
11,200
22,400
5,600
5,600
14,000
14,000
11,200
343,070
9,200
910,000
68,250
65,200
130,400
65,200
391,200
163,000
9,000
917,126
8,400
65,200
2,446
30,000
130,400
134,400
260,800
65,200
65,200
163,000
163,000
130,400
3,937,821
113,381
3.7%
0.3%
0.3%
0.5%
0.3%
1.6%
0.7%
0.0%
3.8%
0.0%
0.3%
0.0%
0.1%
0.5%
0.5%
1.1%
0.3%
0.3%
0.7%
0.7%
0.5%
16.1%
0.5%
852,110
694,932
(2,500)
863,586
730,600
(2,500)
894,324
745,972
(2,500)
911,077
774,238
(2,500)
959,352
772,637
(2,500)
931,766
846,501
(2,500)
948,755
875,403
(2,500)
965,223
905,207
(2,500)
978,173
939,945
(2,500)
1,003,062
961,954
(2,500)
1,011,164
1,001,231
(2,500)
1,023,536
1,036,010
(2,500)
11,342,127
10,284,630
(27,500)
692,432
276,973
415,459
728,100
291,240
436,860
743,472
297,389
446,083
771,738
308,695
463,043
770,137
308,055
462,082
844,001
337,600
506,401
872,903
349,161
523,742
902,707
361,083
541,624
937,445
374,978
562,467
959,454
383,782
575,673
998,731
399,492
599,238
1,033,510
413,404
620,106
10,254,630
4,101,852
6,152,778
46.4%
42.1%
-0.1%
0.0%
41.9%
16.8%
25.2%
2,500
276,973
7,107
286,580
702,039
92,914
2,500
291,240
10,118
303,858
740,717
360,047
2,500
297,389
9,997
309,886
755,969
389,259
2,500
308,695
9,997
321,192
784,235
410,982
2,500
308,055
9,878
320,433
782,515
384,275
2,500
337,600
9,761
349,861
856,262
459,724
2,500
349,161
9,644
361,306
885,048
462,863
2,500
361,083
9,530
373,112
914,736
457,358
2,500
374,978
9,476
386,954
949,421
519,944
2,500
383,782
9,363
395,645
971,317
507,909
2,500
399,492
9,311
411,303
1,010,542
522,289
2,500
413,404
9,200
425,104
1,045,210
571,412
30,000
4,101,852
113,381
4,245,233
10,398,011
4,858,975
0.0%
0.1%
16.8%
0.5%
17.4%
42.5%
19.9%
66.8%
5.5%
16.6%
22.1%
11.1%
0.0%
100.0%
1.5%
0.1%
0.1%
0.0%
1.7%

Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
2008
49
50
51
52
53
54
55
56
57
58
59
60
Totals
Projected B/S
ASSETS
Current assets
Cash
A/R
Prepaid exp
Inventory
Property/equip, net
Other LT assets
Goodwill, net
Total assets
4,842,304
2,571,236
7,413,540
849,880
8,263,420
5,202,351
2,660,080
7,862,431
839,763
8,702,193
5,591,610
2,718,807
8,310,418
839,765
9,150,183
6,002,592
2,791,705
8,794,297
829,768
9,624,065
6,386,866
2,881,412
9,268,278
819,890
10,088,168
6,846,591
2,939,390
9,785,980
810,129
10,596,110
7,309,453
3,012,550
10,322,003
800,485
11,122,488
7,766,811
3,103,644
10,870,455
795,956
11,666,410
8,286,755
3,160,984
11,447,739
786,480
12,234,219
8,794,664
3,236,394
12,031,058
782,117
12,813,175
9,316,953
3,329,101
12,646,054
772,806
13,418,860
9,888,365
3,388,204
13,276,568
763,606
14,040,174
9,888,365
3,388,204
13,276,568
763,606
14,040,174
LIABILITIES
Current Liabilities
A/P
Other Current Liab
LT Note
Total liabilities
326,628
326,628
215,714
542,343
329,256
329,256
215,000
544,256
331,877
331,877
214,286
546,163
343,431
343,431
213,571
557,002
346,166
346,166
212,857
559,023
348,421
348,421
212,143
560,564
351,772
351,772
211,428
563,200
354,785
354,785
210,714
565,499
360,841
360,841
210,000
570,840
364,838
364,838
209,285
574,124
371,999
371,999
208,571
580,570
373,921
373,921
207,857
581,778
373,921
373,921
207,857
373,921
2,750,000
4,971,077
7,721,077
2,750,000
5,407,937
8,157,937
2,750,000
5,854,021
8,604,021
2,750,000
6,317,063
9,067,063
2,750,000
6,779,145
9,529,145
2,750,000
7,285,546
10,035,546
2,750,000
7,809,288
10,559,288
2,750,000
8,350,912
11,100,912
2,750,000
8,913,379
11,663,379
2,750,000
9,489,051
12,239,051
2,750,000
10,088,290
12,838,290
2,750,000
10,708,396
13,458,396
2,750,000
10,708,396
13,458,396
8,263,420
8,702,193
9,150,183
9,624,065
10,088,168
10,596,110
11,122,488
11,666,410
12,234,219
12,813,175
13,418,860
14,040,174
14,040,174
415,459
436,860
446,083
463,043
462,082
506,401
523,742
541,624
562,467
575,673
599,238
620,106
6,152,778
7,107
10,118
9,997
9,997
9,878
9,761
9,644
9,530
9,476
9,363
9,311
9,200
EQUITY
Capital
Retained earnings
Total equity
Projected CFS
Net Income
Adjustments
Depreciation
Amortization
Change in inventory
Change in A/R
Change in A/P
Acquisitions
Ending cash balance
(72,410)
3,473
353,629
(88,844)
2,628
360,761
(58,728)
2,621
399,974
(72,898)
11,553
411,696
(89,707)
2,735
384,989
(57,978)
2,255
460,439
(73,160)
3,351
463,577
(91,094)
3,013
463,072
(57,340)
6,056
520,659
(75,410)
3,998
513,623
(92,707)
7,161
523,003
(59,103)
1,922
572,126
113,381
(889,379)
50,766
5,427,547
(260,000)
(10,000)
(5,000)
(5,000)
(280,000)
(260,000)
(10,000)
(5,000)
(5,000)
(280,000)
(714)
(714)
4,749,390
92,914
4,842,304
(714)
(714)
4,842,304
360,047
5,202,351
(714)
(714)
5,202,351
389,259
5,591,610
(714)
(714)
5,591,610
410,982
6,002,592
(714)
(714)
6,002,592
384,275
6,386,866
(714)
(714)
6,386,866
459,724
6,846,591
(714)
(714)
6,846,591
462,863
7,309,453
(714)
(714)
7,309,453
457,358
7,766,811
(714)
(714)
7,766,811
519,944
8,286,755
(714)
(714)
8,286,755
507,909
8,794,664
(714)
(714)
8,794,664
522,289
9,316,953
(714)
(714)
9,316,953
571,412
9,888,365
(8,571)
(8,571)
4,749,390
5,138,975
9,888,365
Staffing
Year 1
Month 1
0
Pre Launch
Revenue
Company Stage
HEAD COUNT
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Total Sales - Biz Dev
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
TOTAL EMPLOYEES
New Employees
Revenue per employee
Year 1
Month 2
0
Pre Launch
Year 1
Month 3
300
Pre Launch
Year 1
Month 4
4,444
Pre Launch
Year 1
Month 5
7,946
Pre Launch
Year 1
Month 6
14,085
Pre Launch
Year 1
Month 7
24,822
1.0
Year 1
Month 8
43,914
1.0
Year 1
Month 9
77,990
1.0
Year 1
Month 10
94,776
1.0
Year 1
Month 11
116,191
1.0
Year 1
Month 12
143,372
1.0
Year 1
Totals
527,839
1.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
0
0
3
1
1
1
0
0
3
1
1
1
0
0
3
1
1
1
0
0
3
1
1
1
0
0
3
1
1
1
0
0
3
1
1
1
0
0
3
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
1
1
0
1
1
0
1
1
0
1
1
0
1
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
1
0
0
0
0
1
0
2
0
0
0
0
2
0
2
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
1
1
0
0
0
1
0
1
0
1
5
4
4,964 $
2
0
2
8
3
5,489 $
2
0
2
9
1
15,930
2
0
2
9
8
58,649
0
0
0
1
0
300 $
0
0
0
1
0
4,444 $
0
0
0
1
0
7,946
0
0
0
1
0
14,085 $
2
0
2
8
0
9,749
2
0
2
8
0
11,847
2
0
2
8
0
14,524
Staffing
Year 1
Month 1
0
Pre Launch
Revenue
Company Stage
SALARY EXPENSE
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
Total Comp. - Employees
$
$
$
$
$
Avg. Sal
60,000
20,000
50,000
50,000
50,000
$
$
$
Year 1
Month 2
0
Pre Launch
Year 1
Month 3
300
Pre Launch
Year 1
Month 4
4,444
Pre Launch
Year 1
Month 5
7,946
Pre Launch
Year 1
Month 6
14,085
Pre Launch
Year 1
Month 7
24,822
1.0
Year 1
Month 8
43,914
1.0
Year 1
Month 9
77,990
1.0
Year 1
Month 10
94,776
1.0
Year 1
Month 11
116,191
1.0
Year 1
Month 12
143,372
1.0
Year 1
Totals
527,839
1.0
5,000
1,667
4,167
10,833
5,000
1,667
4,167
10,833
5,000
1,667
4,167
10,833
5,000
1,667
4,167
10,833
5,000
1,667
4,167
10,833
5,000
1,667
4,167
10,833
30,000
10,000
25,000
65,000
30,000
45,000
35,000
$
$
40,000
35,000
2,917
2,917
2,917
2,917
2,917
2,917
2,917
2,917
2,917
2,917
14,583
14,583
$
$
$
$
$
$
45,000
40,000
40,000
40,000
40,000
40,000
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
6,667
6,667
43,333
43,333
$
$
30,000
25,000
40,000
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
3,333
16,667
16,667
$
$
24,000
10,000
3,333
3,333
3,333
3,333
3,333
3,333
2,000
2,000
16,167
4,000
4,000
24,417
4,000
4,000
24,417
4,000
4,000
24,417
4,000
4,000
24,417
4,000
4,000
27,750
22,000
22,000
161,583
Staffing
Year 2
Month 1
186,582
2.0
Revenue
Company Stage
HEAD COUNT
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
TOTAL EMPLOYEES
New Employees
Year 2
Month 2
226,675
2.0
Year 2
Month 3
244,782
2.0
Year 2
Month 4
270,813
2.0
Year 2
Month 5
304,170
2.0
Year 2
Month 6
334,760
2.0
Year 2
Month 7
376,914
2.0
Year 2
Month 8
409,241
2.0
Year 2
Month 9
453,764
2.0
Year 2
Month 10
508,644
2.0
Year 2
Month 11
542,796
2.0
Year 2
Month 12
588,244
2.0
Year 2
Totals
4,447,383
2.0
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
0
0
1
1
0
0
1
1
0
0
1
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
1
3
1
1
2
1
1
2
1
1
2
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
2
1
1
1
1
7
1
3
1
1
1
1
8
1
3
1
1
1
1
8
1
3
1
1
1
1
8
1
3
1
1
1
1
8
1
3
1
1
1
1
8
1
0
1
1
0
1
1
0
1
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
2
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
0
2
19
19
9,820
2
0
2
19
0
11,930
2
0
2
19
0
12,883
2
1
3
25
6
10,833
2
1
3
25
0
12,167
2
1
3
25
0
13,390
3
1
4
26
1
14,497
3
1
4
26
0
15,740
3
1
4
27
1
16,806
3
1
4
27
0
18,839
3
1
4
27
0
20,104
3
1
4
27
0
21,787
3
1
4
27
8
164,718
Staffing
Revenue
Company Stage
SALARY EXPENSE
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
Year 2
Month 1
186,582
2.0
Year 2
Month 2
226,675
2.0
Year 2
Month 3
244,782
2.0
Year 2
Month 4
270,813
2.0
Year 2
Month 5
304,170
2.0
Year 2
Month 6
334,760
2.0
Year 2
Month 7
376,914
2.0
Year 2
Month 8
409,241
2.0
Year 2
Month 9
453,764
2.0
Year 2
Month 10
508,644
2.0
Year 2
Month 11
542,796
2.0
Year 2
Month 12
588,244
2.0
Year 2
Totals
4,447,383
2.0
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
8,333
6,667
6,667
6,667
6,667
35,000
100,000
80,000
80,000
80,000
80,000
420,000
$
$
$
$
$
Avg. Sal
100,000
80,000
80,000
80,000
80,000
$
$
$
35,000
50,000
45,000
2,917
2,917
2,917
2,917
2,917
2,917
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
2,917
4,167
3,750
10,833
35,000
37,500
33,750
106,250
$
$
50,000
45,000
4,167
3,750
7,917
4,167
3,750
7,917
4,167
3,750
7,917
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
4,167
7,500
11,667
50,000
78,750
128,750
$
$
$
$
$
$
60,000
50,000
50,000
50,000
50,000
50,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
8,333
4,167
4,167
4,167
4,167
30,000
5,000
12,500
4,167
4,167
4,167
4,167
34,167
5,000
12,500
4,167
4,167
4,167
4,167
34,167
5,000
12,500
4,167
4,167
4,167
4,167
34,167
5,000
12,500
4,167
4,167
4,167
4,167
34,167
60,000
116,667
50,000
50,000
50,000
50,000
376,667
$
$
55,000
45,000
4,583
4,583
4,583
4,583
4,583
4,583
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
4,583
3,750
8,333
55,000
33,750
88,750
55,000
4,583
4,583
4,583
4,583
4,583
4,583
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
9,167
96,250
96,250
$
$
36,000
25,000
6,000
6,000
91,000
6,000
6,000
91,000
6,000
6,000
91,000
6,000
2,083
8,083
113,083
6,000
2,083
8,083
113,083
6,000
2,083
8,083
113,083
9,000
2,083
11,083
116,083
9,000
2,083
11,083
116,083
9,000
2,083
11,083
120,250
9,000
2,083
11,083
120,250
9,000
2,083
11,083
120,250
9,000
2,083
11,083
120,250
90,000
18,750
108,750
1,325,417
Staffing
Year 3
Month 1
643,549
3.0
Revenue
Company Stage
HEAD COUNT
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
TOTAL EMPLOYEES
New Employees
Year 3
Month 2
678,950
3.0
Year 3
Month 3
724,299
3.0
Year 3
Month 4
780,278
3.0
Year 3
Month 5
815,505
3.0
Year 3
Month 6
861,454
3.0
Year 3
Month 7
918,258
3.0
Year 3
Month 8
953,160
3.0
Year 3
Month 9
1,000,258
3.0
Year 3
Month 10
1,057,738
3.0
Year 3
Month 11
1,093,715
3.0
Year 3
Month 12
1,140,913
3.0
Year 3
Totals
10,668,076
3.0
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
3
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
3
5
2
3
5
2
3
5
2
3
5
2
3
5
2
3
5
2
3
5
2
3
5
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
6
2
2
2
2
16
2
6
2
2
2
2
16
2
6
2
2
2
2
16
2
6
2
2
2
2
16
2
6
2
2
2
2
16
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
2
7
2
2
2
2
17
1
1
2
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
2
1
3
37
37
17,393
2
2
4
40
3
16,974
2
2
4
40
0
18,107
2
2
4
40
0
19,507
2
2
4
40
0
20,388
2
2
4
41
1
21,011
2
2
4
41
0
22,397
2
2
4
41
0
23,248
2
2
4
43
2
23,262
3
2
5
44
1
24,039
3
2
5
44
0
24,857
3
2
5
44
0
25,930
3
2
5
44
7
242,456
Staffing
Revenue
Company Stage
SALARY EXPENSE
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
Year 3
Month 1
643,549
3.0
Year 3
Month 2
678,950
3.0
Year 3
Month 3
724,299
3.0
Year 3
Month 4
780,278
3.0
Year 3
Month 5
815,505
3.0
Year 3
Month 6
861,454
3.0
Year 3
Month 7
918,258
3.0
Year 3
Month 8
953,160
3.0
Year 3
Month 9
1,000,258
3.0
Year 3
Month 10
1,057,738
3.0
Year 3
Month 11
1,093,715
3.0
Year 3
Month 12
1,140,913
3.0
Year 3
Totals
10,668,076
3.0
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
150,000
125,000
125,000
125,000
125,000
650,000
$
$
$
$
$
Avg. Sal
150,000
125,000
125,000
125,000
125,000
$
$
$
40,000
60,000
60,000
3,333
5,000
5,000
13,333
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
76,667
60,000
60,000
196,667
$
$
100,000
65,000
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
16,250
32,917
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
200,000
216,667
416,667
$
$
$
$
$
$
85,000
60,000
60,000
60,000
60,000
60,000
14,167
30,000
10,000
10,000
10,000
10,000
84,167
14,167
30,000
10,000
10,000
10,000
10,000
84,167
14,167
30,000
10,000
10,000
10,000
10,000
84,167
14,167
30,000
10,000
10,000
10,000
10,000
84,167
14,167
30,000
10,000
10,000
10,000
10,000
84,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
14,167
35,000
10,000
10,000
10,000
10,000
89,167
170,000
395,000
120,000
120,000
120,000
120,000
1,045,000
$
$
75,000
60,000
6,250
5,000
11,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
75,000
115,000
190,000
75,000
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
18,750
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
250,000
250,000
$
$
55,000
35,000
9,167
2,917
12,083
226,667
9,167
5,833
15,000
237,917
9,167
5,833
15,000
237,917
9,167
5,833
15,000
237,917
9,167
5,833
15,000
237,917
9,167
5,833
15,000
242,917
9,167
5,833
15,000
242,917
9,167
5,833
15,000
242,917
9,167
5,833
15,000
254,583
13,750
5,833
19,583
259,167
13,750
5,833
19,583
259,167
13,750
5,833
19,583
259,167
123,750
67,083
190,833
2,939,167
Staffing
Year 4
Month 1
1,198,043
3.0
Revenue
Company Stage
HEAD COUNT
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
TOTAL EMPLOYEES
New Employees
Year 4
Month 2
1,235,369
3.0
Year 4
Month 3
1,282,643
3.0
Year 4
Month 4
1,340,447
3.0
Year 4
Month 5
1,377,424
3.0
Year 4
Month 6
1,424,873
3.0
Year 4
Month 7
1,483,252
3.0
Year 4
Month 8
1,520,079
3.0
Year 4
Month 9
1,568,927
3.0
Year 4
Month 10
1,628,232
3.0
Year 4
Month 11
1,665,884
3.0
Year 4
Month 12
1,714,157
3.0
Year 4
Totals
17,439,329
3.0
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
2
1
1
4
2
1
1
4
2
1
1
4
2
1
1
4
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
4
6
2
8
2
2
2
2
18
2
8
2
2
2
2
18
2
8
2
2
2
2
18
2
8
2
2
2
2
18
2
8
3
3
3
3
22
2
8
3
3
3
3
22
2
8
3
3
3
3
22
2
8
3
3
3
3
22
2
8
3
3
3
3
22
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
3
2
5
45
45
26,623
3
2
5
45
0
27,453
3
2
5
45
0
28,503
3
2
5
45
0
29,788
3
2
5
50
5
27,548
3
2
5
50
0
28,497
3
2
5
50
0
29,665
3
2
5
50
0
30,402
3
2
5
50
0
31,379
4
2
6
52
2
31,312
4
2
6
52
0
32,036
4
2
6
52
0
32,965
4
2
6
52
7
335,372
Staffing
Year 4
Month 1
1,198,043
3.0
Revenue
Company Stage
SALARY EXPENSE
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
$
$
$
$
$
Avg. Sal
150,000
125,000
125,000
125,000
125,000
$
$
$
Year 4
Month 2
1,235,369
3.0
Year 4
Month 3
1,282,643
3.0
Year 4
Month 4
1,340,447
3.0
Year 4
Month 5
1,377,424
3.0
Year 4
Month 6
1,424,873
3.0
Year 4
Month 7
1,483,252
3.0
Year 4
Month 8
1,520,079
3.0
Year 4
Month 9
1,568,927
3.0
Year 4
Month 10
1,628,232
3.0
Year 4
Month 11
1,665,884
3.0
Year 4
Month 12
1,714,157
3.0
Year 4
Totals
17,439,329
3.0
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
150,000
125,000
125,000
125,000
125,000
650,000
40,000
60,000
60,000
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
5,000
5,000
16,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
80,000
100,000
60,000
240,000
$
$
100,000
65,000
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
16,667
21,667
38,333
200,000
260,000
460,000
$
$
$
$
$
$
85,000
60,000
60,000
60,000
60,000
60,000
14,167
40,000
10,000
10,000
10,000
10,000
94,167
14,167
40,000
10,000
10,000
10,000
10,000
94,167
14,167
40,000
10,000
10,000
10,000
10,000
94,167
14,167
40,000
10,000
10,000
10,000
10,000
94,167
14,167
40,000
15,000
15,000
15,000
15,000
114,167
14,167
40,000
15,000
15,000
15,000
15,000
114,167
14,167
40,000
15,000
15,000
15,000
15,000
114,167
14,167
40,000
15,000
15,000
15,000
15,000
114,167
14,167
40,000
15,000
15,000
15,000
15,000
114,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
170,000
495,000
160,000
160,000
160,000
160,000
1,305,000
$
$
75,000
60,000
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
75,000
120,000
195,000
75,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
300,000
300,000
$
$
55,000
35,000
13,750
5,833
19,583
264,167
13,750
5,833
19,583
264,167
13,750
5,833
19,583
264,167
13,750
5,833
19,583
264,167
13,750
5,833
19,583
289,167
13,750
5,833
19,583
289,167
13,750
5,833
19,583
289,167
13,750
5,833
19,583
289,167
13,750
5,833
19,583
289,167
18,333
5,833
24,167
298,750
18,333
5,833
24,167
298,750
18,333
5,833
24,167
298,750
178,750
70,000
248,750
3,398,750
Staffing
Year 5
Month 1
1,773,387
3.0
Revenue
Company Stage
HEAD COUNT
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
TOTAL EMPLOYEES
New Employees
Year 5
Month 2
1,812,538
3.0
Year 5
Month 3
1,861,137
3.0
Year 5
Month 4
1,920,941
3.0
Year 5
Month 5
1,959,593
3.0
Year 5
Month 6
2,008,367
3.0
Year 5
Month 7
2,069,096
3.0
Year 5
Month 8
2,107,323
3.0
Year 5
Month 9
2,157,596
3.0
Year 5
Month 10
2,219,401
3.0
Year 5
Month 11
2,258,803
3.0
Year 5
Month 12
2,308,501
3.0
Year 5
Totals
24,456,682
3.0
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
1
1
1
1
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
2
1
5
2
4
6
2
4
6
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
5
7
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
9
3
3
3
3
23
2
10
3
3
3
3
24
2
10
3
3
3
3
24
2
10
3
3
3
3
24
2
10
3
3
3
3
24
2
10
3
3
3
3
24
2
10
3
3
3
3
24
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
1
2
3
4
4
4
4
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
4
2
6
52
52
34,104
4
2
6
52
0
34,857
4
2
6
54
2
34,465
4
2
6
54
0
35,573
4
2
6
54
0
36,289
4
2
6
54
0
37,192
4
2
6
54
0
38,317
4
2
6
55
1
38,315
4
2
6
55
0
39,229
5
2
7
56
1
39,632
5
2
7
56
0
40,336
5
2
7
56
0
41,223
5
2
7
56
4
436,726
Staffing
Year 5
Month 1
1,773,387
3.0
Revenue
Company Stage
SALARY EXPENSE
Executive
CEO
CFO
COO
CIO
CMO
Total Executive
Administrative
Admin Asst
Accounting
HR
Total Admin
Sales - Biz Dev
Director
Acct Execs
Operations
Manager
Call Center
Cust Srvc
Field Ops
Trainers
QA
Total Operations
Marketing
Marketing Mgr
Acct Exec
Total Mkting
IT
Technicians
Total IT
Sales - Field Reps
City Manager
Support
Total Field Reps
$
$
$
$
$
Avg. Sal
150,000
125,000
125,000
125,000
125,000
$
$
$
Year 5
Month 2
1,812,538
3.0
Year 5
Month 3
1,861,137
3.0
Year 5
Month 4
1,920,941
3.0
Year 5
Month 5
1,959,593
3.0
Year 5
Month 6
2,008,367
3.0
Year 5
Month 7
2,069,096
3.0
Year 5
Month 8
2,107,323
3.0
Year 5
Month 9
2,157,596
3.0
Year 5
Month 10
2,219,401
3.0
Year 5
Month 11
2,258,803
3.0
Year 5
Month 12
2,308,501
3.0
Year 5
Totals
24,456,682
3.0
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
12,500
10,417
10,417
10,417
10,417
54,167
150,000
125,000
125,000
125,000
125,000
650,000
40,000
60,000
60,000
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
6,667
10,000
5,000
21,667
80,000
120,000
60,000
260,000
$
$
100,000
65,000
16,667
21,667
38,333
16,667
21,667
38,333
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
16,667
27,083
43,750
200,000
314,167
514,167
$
$
$
$
$
$
85,000
60,000
60,000
60,000
60,000
60,000
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
45,000
15,000
15,000
15,000
15,000
119,167
14,167
50,000
15,000
15,000
15,000
15,000
124,167
14,167
50,000
15,000
15,000
15,000
15,000
124,167
14,167
50,000
15,000
15,000
15,000
15,000
124,167
14,167
50,000
15,000
15,000
15,000
15,000
124,167
14,167
50,000
15,000
15,000
15,000
15,000
124,167
170,000
565,000
180,000
180,000
180,000
180,000
1,455,000
$
$
75,000
60,000
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
6,250
10,000
16,250
75,000
120,000
195,000
75,000
25,000
25,000
25,000
25,000
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
31,250
362,500
362,500
$
$
55,000
35,000
18,333
5,833
24,167
298,750
18,333
5,833
24,167
298,750
18,333
5,833
24,167
310,417
18,333
5,833
24,167
310,417
18,333
5,833
24,167
310,417
18,333
5,833
24,167
310,417
18,333
5,833
24,167
310,417
18,333
5,833
24,167
315,417
18,333
5,833
24,167
315,417
22,917
5,833
28,750
320,000
22,917
5,833
28,750
320,000
22,917
5,833
28,750
320,000
233,750
70,000
303,750
3,740,417
Transaction Calculator
Jan-04
1
Feb-04
2
Mar-04
3
Apr-04
4
May-04
5
Jun-04
6
Jul-04
7
Aug-04
8
Sep-04
9
Oct-04
10
Nov-04
11
Dec-04
12
2004
Totals
Number of Transactions
Number of trial users
200
350
613
1,073
1,878
3,487
4,130
4,960
6,072
6,877
29,640
New Subscribers
Total Number of Subscribers
150
150
263
413
460
872
805
1,677
1,409
3,086
2,615
5,701
3,098
8,798
3,720
12,518
4,554
17,072
17,072
17,072
New Markets
Total Number of Markets
1
1
1
2
2
2
New Companies
Total Number of Companies
20
20
10
30
15
45
23
68
34
102
71
173
25
198
32
230
42
272
44
316
316
316
No. of Trans. (trial)

No. of Trans.(subscriber)
200
-
350
113
613
309
1,073
654
1,878
1,258
3,487
2,314
4,130
4,276
4,960
6,599
6,072
9,389
6,877
12,804
29,640
12,804
No. of Company Trans. (trial)

No. of Company Trans. (subscriber)
1,000
1,000
1,500
1,500
2,250
2,250
3,400
3,400
5,100
5,100
8,650
8,650
9,900
9,900
11,500
11,500
13,600
13,600
15,800
15,800
72,700
72,700
Trail Transactions (lower est.)

Subscriber Transactions (lower est.)
200
-
350
113
613
309
1,073
654
1,878
1,258
3,487
2,314
4,130
4,276
4,960
6,599
6,072
9,389
6,877
12,804
29,640
37,715
Transaction per rest.
10
15
20
25
31
34
42
50
57
62
213
Companies enrolled in Company Mkting
Jan-05
13
Feb-05
14
Mar-05
15
Apr-05
16
May-05
17
Jun-05
18
Jul-05
19
Aug-05
20
Sep-05
21
Oct-05
22
Nov-05
23
Dec-05
24
2005
Totals
8,486
9,129
9,959
11,271
12,226
13,898
15,051
16,573
18,897
20,050
21,572
23,896
23,896
5,158
22,230
6,365
28,595
6,847
35,441
7,469
42,873
8,453
51,261
9,170
60,315
10,424
70,538
11,288
81,474
12,430
93,250
14,173
106,648
15,038
120,755
16,179
135,796
122,992
135,796
New Subscribers
New Markets
1
4
82
398
36
434
35
469
199
217

8,486
16,673

New Companies
1
3
1
5
68
537
59
596
81
677
235
269
298
9,129
21,446
9,959
26,581
11,271
32,155
19,900
19,900
21,700
21,700
23,450
23,450
8,486
16,673
9,129
21,446
9,959
23,450
63
70
71
1
6
73
750
67
817
100
917
339
375
409
12,226
38,445
13,898
45,236
15,051
52,903
26,850
26,850
29,800
29,800
33,850
33,850
11,271
26,850
12,226
29,800
13,898
33,850
71
71
71
4
6
77
994
82
1,076
107
1,183
867
1,183
459
497
538
592
592
16,573
61,105
18,897
69,937
20,050
79,986
21,572
90,567
23,896
101,847
23,896
101,847
37,500
37,500
40,850
40,850
45,850
45,850
49,700
49,700
53,800
53,800
59,150
59,150
442,400
442,400
15,051
37,500
16,573
40,850
18,897
45,850
20,050
49,700
21,572
53,800
23,896
59,150
181,008
438,918
70
70
71
70
70
70
524
Jan-06
25
Feb-06
26
Mar-06
27
Apr-06
28
May-06
29
Jun-06
30
Jul-06
31
Aug-06
32
Sep-06
33
Oct-06
34
Nov-06
35
Dec-06
36
2006
Totals
New Subscribers
New Markets
25,049
26,571
28,895
30,048
31,570
33,894
35,047
36,569
38,893
40,046
41,568
43,892
43,892
17,922
152,429
18,787
169,624
19,928
187,841
21,671
207,600
22,536
227,944
23,678
249,191
25,421
271,764
26,285
294,805
27,427
318,339
29,170
343,037
30,035
368,196
31,176
393,961
294,035
393,961
1
8
80
1,263
92
1,355
107
1,462
632
678
25,049
114,321

New Companies

1
7
1
9
85
1,547
91
1,638
111
1,749
731
774
819
26,571
127,218
28,895
140,881
30,048
155,700
63,150
63,150
67,750
67,750
73,100
73,100
25,049
63,150
26,571
67,750
28,895
73,100
70
70
70
1
10
92
1,841
88
1,929
121
2,050
875
921
965
31,570
170,958
33,894
186,893
35,047
203,823
77,350
77,350
81,900
81,900
87,450
87,450
30,048
77,350
31,570
81,900
33,894
87,450
69
69
69
10
10
4
10
97
2,147
97
2,244
121
2,365
1,182
2,365
1,025
1,074
1,122
1,183
1,183
36,569
221,103
38,893
238,755
40,046
257,277
41,568
276,147
43,892
295,471
43,892
295,471
92,050
92,050
96,450
96,450
102,500
102,500
107,350
107,350
112,200
112,200
118,250
118,250
1,079,500
1,079,500
35,047
92,050
36,569
96,450
38,893
102,500
40,046
107,350
41,568
112,200
43,892
118,250
412,042
1,079,500
69
69
69
69
69
69
631
Jan-07
37
Feb-07
38
Mar-07
39
Apr-07
40
May-07
41
Jun-07
42
Jul-07
43
Aug-07
44
Sep-07
45
Oct-07
46
Nov-07
47
Dec-07
48
2007
Totals
New Subscribers
New Markets
45,045
46,567
48,891
50,044
51,566
53,890
55,043
56,565
58,889
60,042
61,564
63,888
63,888
32,919
420,852
33,784
448,030
34,925
475,919
36,668
504,876
37,533
534,147
38,675
563,991
40,418
594,644
41,282
625,476
42,424
656,399
44,167
687,937
45,032
719,646
46,173
751,578
473,999
751,578
11
11
1
12
95
2,460
107
2,567
122
2,689
1,230
1,284

45,045
315,639

New Companies
1
11
12
12
1
13
100
2,789
105
2,894
123
3,017
1,345
1,395
1,447
46,567
336,022
48,891
356,939
50,044
378,657
123,000
123,000
128,350
128,350
134,450
134,450
45,045
123,000
46,567
128,350
48,891
134,450
68
68
68
13
13
1
14
105
3,122
103
3,225
135
3,360
1,509
1,561
1,613
51,566
400,610
53,890
422,993
55,043
445,983
139,450
139,450
144,700
144,700
150,850
150,850
50,044
139,450
51,566
144,700
53,890
150,850
68
68
68
14
14
4
14
112
3,472
110
3,582
130
3,712
1,347
3,712
1,680
1,736
1,791
1,856
1,856
56,565
469,107
58,889
492,299
60,042
515,953
61,564
539,735
63,888
563,683
63,888
563,683
156,100
156,100
161,250
161,250
168,000
168,000
173,600
173,600
179,100
179,100
185,600
185,600
1,844,450
1,844,450
55,043
156,100
56,565
161,250
58,889
168,000
60,042
173,600
61,564
179,100
63,888
185,600
651,994
1,844,450
68
68
68
67
67
67
673
Jan-08
49
Feb-08
50
Mar-08
51
Apr-08
52
May-08
53
Jun-08
54
Jul-08
55
Aug-08
56
Sep-08
57
Oct-08
58
Nov-08
59
Dec-08
60
2008
Totals
New Subscribers
New Markets
65,041
66,563
68,887
70,040
71,562
73,886
75,039
76,561
78,885
80,038
81,560
83,884
83,884
47,916
784,082
48,781
816,554
49,922
849,370
51,665
882,692
52,530
916,015
53,672
949,521
55,415
983,235
56,279
1,016,794
57,421
1,049,984
59,164
1,083,156
60,029
1,116,165
61,170
1,148,954
653,963
1,148,954
15
15
1
16
111
3,823
122
3,945
133
4,078
1,912
1,973

65,041
588,062

New Companies
1
15
16
16
1
17
116
4,194
118
4,312
134
4,446
2,039
2,097
2,156
66,563
612,415
68,887
637,027
70,040
662,019
191,150
191,150
197,250
197,250
203,900
203,900
65,041
191,150
66,563
197,250
68,887
203,900
67
67
67
17
17
1
18
123
4,569
115
4,684
146
4,830
2,223
2,285
2,342
71,562
687,011
73,886
712,141
75,039
737,426
209,700
209,700
215,600
215,600
222,300
222,300
70,040
209,700
71,562
215,600
73,886
222,300
67
67
67
18
18
4
18
132
4,962
124
5,086
141
5,227
1,515
5,227
2,415
2,481
2,543
2,614
2,614
76,561
762,595
78,885
787,488
80,038
812,367
81,560
837,124
83,884
861,716
83,884
861,716
228,450
228,450
234,200
234,200
241,500
241,500
248,100
248,100
254,300
254,300
261,350
261,350
2,707,800
2,707,800
75,039
228,450
76,561
234,200
78,885
241,500
80,038
248,100
81,560
254,300
83,884
261,350
891,946
2,707,800
66
66
66
66
66
66
689
LT Note
Jan-04
1
Debt added to date
250,000
New debt
250,000.00
Beg Bal
Payment
Interest
Principle
Ending Bal
250,000.00
Interest rate
12%
Term
years
10
months
120
Feb-04
2
250,000
250,000.00
(3,214.29)
(2,500.00)
(714.29)
249,285.71
Mar-04
3
250,000
249,285.71
(3,214.29)
(2,500.00)
(714.29)
248,571.42
Apr-04
4
250,000
248,571.42
(3,214.29)
(2,500.00)
(714.29)
247,857.13
May-04
5
250,000
247,857.13
(3,214.29)
(2,500.00)
(714.29)
247,142.84
Jun-04
6
250,000
247,142.84
(3,214.29)
(2,500.00)
(714.29)
246,428.55
Jul-04
7
250,000
246,428.55
(3,214.29)
(2,500.00)
(714.29)
245,714.26
Aug-04
8
250,000
245,714.26
(3,214.29)
(2,500.00)
(714.29)
244,999.97
Sep-04
9
250,000
244,999.97
(3,214.29)
(2,500.00)
(714.29)
244,285.68
Oct-04
10
250,000
244,285.68
(3,214.29)
(2,500.00)
(714.29)
243,571.39
Nov-04
11
250,000
243,571.39
(3,214.29)
(2,500.00)
(714.29)
242,857.10
Dec-04
12
250,000
242,857.10
(3,214.29)
(2,500.00)
(714.29)
242,142.81
Totals
250,000.00
(35,357.19)
(27,500.00)
(7,857.19)
242,142.81
LT Note
Jan-05
13
Debt added to date
250,000
New debt
Beg Bal
242,142.81
Payment
(3,214.29)
Interest
(2,500.00)
Principle
(714.29)
Ending Bal
241,428.52
Interest rate
12%
Term
years
10
months
120
Feb-05
14
250,000
241,428.52
(3,214.29)
(2,500.00)
(714.29)
240,714.23
Mar-05
15
250,000
240,714.23
(3,214.29)
(2,500.00)
(714.29)
239,999.94
Apr-05
16
250,000
239,999.94
(3,214.29)
(2,500.00)
(714.29)
239,285.65
May-05
17
250,000
239,285.65
(3,214.29)
(2,500.00)
(714.29)
238,571.36
Jun-05
18
250,000
238,571.36
(3,214.29)
(2,500.00)
(714.29)
237,857.08
Jul-05
19
250,000
237,857.08
(3,214.29)
(2,500.00)
(714.29)
237,142.79
Aug-05
20
250,000
237,142.79
(3,214.29)
(2,500.00)
(714.29)
236,428.50
Sep-05
21
250,000
236,428.50
(3,214.29)
(2,500.00)
(714.29)
235,714.21
Oct-05
22
250,000
235,714.21
(3,214.29)
(2,500.00)
(714.29)
234,999.92
Nov-05
23
250,000
234,999.92
(3,214.29)
(2,500.00)
(714.29)
234,285.63
Dec-05
24
250,000
234,285.63
(3,214.29)
(2,500.00)
(714.29)
233,571.34
Totals
242,142.81
(38,571.48)
(30,000.00)
(8,571.48)
233,571.34
LT Note
Jan-06
25
Debt added to date
250,000
New debt
Beg Bal
233,571.34
Payment
(3,214.29)
Interest
(2,500.00)
Principle
(714.29)
Ending Bal
232,857.05
Interest rate
12%
Term
years
10
months
120
Feb-06
26
250,000
232,857.05
(3,214.29)
(2,500.00)
(714.29)
232,142.76
Mar-06
27
250,000
232,142.76
(3,214.29)
(2,500.00)
(714.29)
231,428.47
Apr-06
28
250,000
231,428.47
(3,214.29)
(2,500.00)
(714.29)
230,714.18
May-06
29
250,000
230,714.18
(3,214.29)
(2,500.00)
(714.29)
229,999.89
Jun-06
30
250,000
229,999.89
(3,214.29)
(2,500.00)
(714.29)
229,285.60
Jul-06
31
250,000
229,285.60
(3,214.29)
(2,500.00)
(714.29)
228,571.31
Aug-06
32
250,000
228,571.31
(3,214.29)
(2,500.00)
(714.29)
227,857.02
Sep-06
33
250,000
227,857.02
(3,214.29)
(2,500.00)
(714.29)
227,142.73
Oct-06
34
250,000
227,142.73
(3,214.29)
(2,500.00)
(714.29)
226,428.44
Nov-06
35
250,000
226,428.44
(3,214.29)
(2,500.00)
(714.29)
225,714.15
Dec-06
36
250,000
225,714.15
(3,214.29)
(2,500.00)
(714.29)
224,999.86
Totals
233,571.34
(38,571.48)
(30,000.00)
(8,571.48)
224,999.86
LT Note
Jan-07
37
Debt added to date
250,000
New debt
Beg Bal
224,999.86
Payment
(3,214.29)
Interest
(2,500.00)
Principle
(714.29)
Ending Bal
224,285.57
Interest rate
12%
Term
years
10
months
120
Feb-07
38
250,000
224,285.57
(3,214.29)
(2,500.00)
(714.29)
223,571.28
Mar-07
39
250,000
223,571.28
(3,214.29)
(2,500.00)
(714.29)
222,856.99
Apr-07
40
250,000
222,856.99
(3,214.29)
(2,500.00)
(714.29)
222,142.70
May-07
41
250,000
222,142.70
(3,214.29)
(2,500.00)
(714.29)
221,428.41
Jun-07
42
250,000
221,428.41
(3,214.29)
(2,500.00)
(714.29)
220,714.12
Jul-07
43
250,000
220,714.12
(3,214.29)
(2,500.00)
(714.29)
219,999.83
Aug-07
44
250,000
219,999.83
(3,214.29)
(2,500.00)
(714.29)
219,285.54
Sep-07
45
250,000
219,285.54
(3,214.29)
(2,500.00)
(714.29)
218,571.25
Oct-07
46
250,000
218,571.25
(3,214.29)
(2,500.00)
(714.29)
217,856.96
Nov-07
47
250,000
217,856.96
(3,214.29)
(2,500.00)
(714.29)
217,142.67
Dec-07
48
250,000
217,142.67
(3,214.29)
(2,500.00)
(714.29)
216,428.38
Totals
224,999.86
(38,571.48)
(30,000.00)
(8,571.48)
216,428.38
LT Note
Jan-08
49
Debt added to date
250,000
New debt
Beg Bal
216,428.38
Payment
(3,214.29)
Interest
(2,500.00)
Principle
(714.29)
Ending Bal
215,714.09
Interest rate
12%
Term
years
10
months
120
Feb-08
50
250,000
215,714.09
(3,214.29)
(2,500.00)
(714.29)
214,999.80
Mar-08
51
250,000
214,999.80
(3,214.29)
(2,500.00)
(714.29)
214,285.51
Apr-08
52
250,000
214,285.51
(3,214.29)
(2,500.00)
(714.29)
213,571.23
May-08
53
250,000
213,571.23
(3,214.29)
(2,500.00)
(714.29)
212,856.94
Jun-08
54
250,000
212,856.94
(3,214.29)
(2,500.00)
(714.29)
212,142.65
Jul-08
55
250,000
212,142.65
(3,214.29)
(2,500.00)
(714.29)
211,428.36
Aug-08
56
250,000
211,428.36
(3,214.29)
(2,500.00)
(714.29)
210,714.07
Sep-08
57
250,000
210,714.07
(3,214.29)
(2,500.00)
(714.29)
209,999.78
Oct-08
58
250,000
209,999.78
(3,214.29)
(2,500.00)
(714.29)
209,285.49
Nov-08
59
250,000
209,285.49
(3,214.29)
(2,500.00)
(714.29)
208,571.20
Dec-08
60
250,000
208,571.20
(3,214.29)
(2,500.00)
(714.29)
207,856.91
Totals
216,428.38
(38,571.48)
(30,000.00)
(8,571.48)
207,856.91
Capitalization Table
Idea
EBITDA
5X
pre money
investment
post money
Share price
FF
VC - A
Exit Scenarios
Year 3
Year 4
IPO
2,256,011
######
$ 750,000
$ 250,000
######
$
0.17
Authorized Shares
Common
10,000,000
10,000,000
Shares owned
CEO
CFO
COO
CIO
CMO
Director of Biz Dev
Director of Ops
Director of Marketing
Employee 8
Other employees
Option plan
FF
Angel
VC - A
VC - B
IPO
Total
Angel
$
$
$
###### 40.0%
750,000 30.0%
750,000 30.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
###### ####
Value of holdings
CEO
$
CFO
$
COO
$
CIO
$
CMO
$
Director of Biz Dev $
Director of Ops
$
Director of Marketing $
Employee 8
$
Other employees
$
Option plan
$
FF
$
Angel
$
VC - A
$
VC - B
$
IPO
$
Total Capitalization $
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
6,000,000
$ 166,667
$ 125,000
$ 125,000
$ 83,333
$ 83,333
$ 16,667
$ 16,667
$ 16,667
$
8,333
$ 25,000
$ 83,333
$ 250,000
$
$
$
$
######
75.0% $ 2,000,000
25.0% $
500,000
#### $ 2,500,000
$
0.33
80.0%
20.0%
####
10,000,000
16.7%
12.5%
12.5%
8.3%
8.3%
1.7%
1.7%
1.7%
0.8%
2.5%
8.3%
25.0%
0.0%
0.0%
0.0%
0.0%
####
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
7,500,000
$ 333,333
$ 250,000
$ 250,000
$ 166,667
$ 166,667
$
33,333
$
33,333
$
33,333
$
16,667
$
50,000
$ 166,667
$ 500,000
$ 500,000
$
$
$
$ 2,500,000
13.3%
10.0%
10.0%
6.7%
6.7%
1.3%
1.3%
1.3%
0.7%
2.0%
6.7%
20.0%
20.0%
0.0%
0.0%
0.0%
####
######
######
######
$
0.67
71.4% $ 75,000,000 69.4%

28.6% $ 33,000,000 30.6%
####
######## ####
$
7.14
$
20,000,000
50,000,000
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
3,000,000
######
$ 666,667
$ 500,000
$ 500,000
$ 333,333
$ 333,333
$ 66,667
$ 66,667
$ 66,667
$ 33,333
$ 100,000
$ 333,333
######
######
######
$
$
######
9.5%
7.1%
7.1%
4.8%
4.8%
1.0%
1.0%
1.0%
0.5%
1.4%
4.8%
14.3%
14.3%
28.6%
0.0%
0.0%
####
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
3,000,000
4,620,000
15,120,000
$ 7,142,857
$ 5,357,143
$ 5,357,143
$ 3,571,429
$ 3,571,429
$
714,286
$
714,286
$
714,286
$
357,143
$ 1,071,429
$ 3,571,429
$ 10,714,286
$ 10,714,286
$ 21,428,571
$
$ 33,000,000
########
6.6%
5.0%
5.0%
3.3%
3.3%
0.7%
0.7%
0.7%
0.3%
1.0%
3.3%
9.9%
9.9%
19.8%
0.0%
30.6%
####
1.07
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
3,000,000
######
######
$ 805,718
$ 805,718
$ 537,145
$ 537,145
$ 107,429
$ 107,429
$ 107,429
$ 53,715
$ 161,144
$ 537,145
######
######
######
$
$
######
9.5%
7.1%
7.1%
4.8%
4.8%
1.0%
1.0%
1.0%
0.5%
1.4%
4.8%
14.3%
14.3%
28.6%
0.0%
0.0%
####
Year 5
6,157,476
30,787,382
10,398,011
51,990,057
2.93
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
3,000,000
10,500,000
$ 2,932,132
$ 2,199,099
$ 2,199,099
$ 1,466,066
$ 1,466,066
$ 293,213
$ 293,213
$ 293,213
$ 146,607
$ 439,820
$ 1,466,066
$ 4,398,197
$ 4,398,197
$ 8,796,395
$
$
#######
9.5%
7.1%
7.1%
4.8%
4.8%
1.0%
1.0%
1.0%
0.5%
1.4%
4.8%
14.3%
14.3%
28.6%
0.0%
0.0%
####
4.95
1,000,000
750,000
750,000
500,000
500,000
100,000
100,000
100,000
50,000
150,000
500,000
1,500,000
1,500,000
3,000,000
10,500,000
$ 4,951,434
$ 3,713,576
$ 3,713,576
$ 2,475,717
$ 2,475,717
$ 495,143
$ 495,143
$ 495,143
$ 247,572
$ 742,715
$ 2,475,717
$ 7,427,151
$ 7,427,151
#######
$
$
#######
9.5%
7.1%
7.1%
4.8%
4.8%
1.0%
1.0%
1.0%
0.5%
1.4%
4.8%
14.3%
14.3%
28.6%
0.0%
0.0%
####
Development
Company Stage
Development Costs
Est. Project
Cost
Dev.
time
Start of
Devel.
Website & Voice App

Version 2.0 Development
Total Development Costs
200,000
450,000
500,000
1,150,000
6
6
12
1
7
13
End of Launc
Devel.
h
6
12
24
7
13
25
Website and Voice App development

Version 1.0
200,000
ENTER AMOUNT HERE
Version 2.0
450,000
ENTER AMOUNT HERE
Version 3.0
500,000
ENTER AMOUNT HERE
Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Pre Launch
Pre Launch
Pre Launch
Pre Launch
Pre Launch
Pre Launch
1
33,333
33,333
2
33,333
33,333
3
33,333
33,333
4
33,333
33,333
5
33,333
33,333
6
33,333
33,333
Jul-04
Aug-04
1.0
7
75,000
75,000
Sep-04
1.0
8
75,000
75,000
Oct-04
1.0
9
75,000
75,000
Nov-04
1.0
10
75,000
75,000
Dec-04
1.0
11
75,000
75,000
2004
1.0
12
75,000
75,000
Year 1
200,000
450,000
650,000
Development
Jan-05
Company Stage
Feb-05
2.0
Development Costs
Est. Project
Cost
Dev.
time
Start of
Devel.
Website & Voice App

200,000
450,000
500,000
1,150,000
6
6
12
1
7
13
End of Launc
Devel.
h
6
12
24
7
13
25

Version 1.0
200,000
ENTER AMOUNT HERE
Version 2.0
450,000
ENTER AMOUNT HERE
Version 3.0
500,000
ENTER AMOUNT HERE
13
41,667
41,667
Mar-05
2.0
14
41,667
41,667
Apr-05
2.0
15
41,667
41,667
May-05
2.0
16
41,667
41,667
Jun-05
2.0
17
41,667
41,667
Jul-05
2.0
18
41,667
41,667
Aug-05
2.0
19
41,667
41,667
Sep-05
2.0
20
41,667
41,667
Oct-05
2.0
21
41,667
41,667
Nov-05
2.0
22
41,667
41,667
Dec-05
2.0
23
41,667
41,667
2005
2.0
24
41,667
41,667
Year 2
500,000
500,000
Development
Jan-06
Company Stage
Feb-06
3.0
Development Costs
Est. Project
Cost
Dev.
time
Start of
Devel.
Website & Voice App

200,000
450,000
500,000
1,150,000
6
6
12
1
7
13
End of Launc
Devel.
h
6
12
24
7
13
25

Version 1.0
200,000
ENTER AMOUNT HERE
Version 2.0
450,000
ENTER AMOUNT HERE
Version 3.0
500,000
ENTER AMOUNT HERE
Mar-06
3.0
Apr-06
3.0
May-06
3.0
Jun-06
3.0
Jul-06
3.0
Aug-06
3.0
Sep-06
3.0
Oct-06
3.0
Nov-06
3.0
Dec-06
3.0
2006
3.0
25
26
27
28
29
30
31
32
33
34
35
36
Year 3
-
Development
Jan-07
Company Stage
Feb-07
3.0
Development Costs
Est. Project
Cost
Dev.
time
Start of
Devel.
Website & Voice App

200,000
450,000
500,000
1,150,000
6
6
12
1
7
13
End of Launc
Devel.
h
6
12
24
7
13
25

Version 1.0
200,000
ENTER AMOUNT HERE
Version 2.0
450,000
ENTER AMOUNT HERE
Version 3.0
500,000
ENTER AMOUNT HERE
Mar-07
3.0
Apr-07
3.0
May-07
3.0
Jun-07
3.0
Jul-07
3.0
Aug-07
3.0
Sep-07
3.0
Oct-07
3.0
Nov-07
3.0
Dec-07
3.0
2007
3.0
37
38
39
40
41
42
43
44
45
46
47
48
Year 4
-
Development
Jan-08
Company Stage
Feb-08
3.0
Development Costs
Est. Project
Cost
Dev.
time
Start of
Devel.
Website & Voice App

200,000
450,000
500,000
1,150,000
6
6
12
1
7
13
End of Launc
Devel.
h
6
12
24
7
13
25

Version 1.0
200,000
ENTER AMOUNT HERE
Version 2.0
450,000
ENTER AMOUNT HERE
Version 3.0
500,000
ENTER AMOUNT HERE
Mar-08
3.0
Apr-08
3.0
May-08
3.0
Jun-08
3.0
Jul-08
3.0
Aug-08
3.0
Sep-08
3.0
Oct-08
3.0
Nov-08
3.0
Dec-08
3.0
2008
3.0
49
50
51
52
53
54
55
56
57
58
59
60
Year 5
-

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Bill Snow Financial Projections

Selected Financial Highlights

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one time fee

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one time fee (for each new city)

Total Other Mkting

per month per employee

Bill Snow Financial Projections

150% of last month's sales