Income Statement ( $ in millions except for price per share)

Actual
Income Statement 06/30/07 06/30/08 06/30/09
Show Sales
Regular Net Sales $ 46.180 $ 53.10700 $ 57.88663
Net Sales $ 46.180 $ 53.107 $ 57.887
Cost of Goods Sold $ 26.784 $ 30.802 $ 33.574
Gross Profit Margin $ 19.396 $ 22.30500 $ 24.31238
Equipment inversion
R&D Expense 0.739 0.850 0.926
SG&A Expense 14.916 17.260 18.871
Promotion Expense at 11% of Sales
Depreciation Expense
Earnings Before Interest & Taxes 3.741 4.195 4.515

Interest expense $ 2.906 $ 2.94000 2.668

Earnins Before Income Taxes $ 0.835 $ 1.255 $ 1.847

Income Taxes 0.2254 0.3389 0.4987

Net Income 0.6093 0.9164 1.3485
0.3070
Growth rate of sales 15% 9%
Income tax rate assumed 27.000% 27% 27%
Price/Earnings Ratio
Market value of Equity
Common Shares Outstanding
Price per share
Cost of good solds 58.000% 58.000% 58.000%
reserch and development 1.6000% 1.6000% 1.6000%
Selling, general & administrative 32.300% 32.500% 32.600%
 Projected
06/30/10 06/30/11 06/30/12 06/30/13 06/30/14 06/30/15 06/30/16
8.100 8.505 8.930 9.377 9.846
$ 68.01679 $ 80.94 $ 93.08 $ 105.18 $ 116.75 $ 127.26 $ 138.71
$ 68.017 $ 80.940 $ 101.18 $ 113.69 $ 125.68 $ 136.64 $ 148.56
$ 39.790 $ 47.512 $ 59.19 $ 66.51 $ 73.52 $ 79.93 $ 86.91
$ 28.22679 $ 33.42798 $ 41.99 $ 47.18 $ 52.16 $ 56.70 $ 61.65
$ 1.440
1.088 1.295 1.49 1.68 1.87 2.04 2.22
21.902 26.063 30.08 33.93 37.61 40.97 44.62
0.89 0.94 0.98 1.03 1.08
0.29 0.29 0.29 0.29 0.29
5.237 4.630 9.24 10.34 11.40 12.38 13.44

2.423 2.817 3.24 3.58 3.89 4.12 4.12

$ 2.814 $ 1.813 $ 6.00 $ 6.76 $ 7.51 $ 8.26 $ 9.32

0.7597 0.4895 1.62 1.83 2.03 2.23 2.52

2.0539 1.3234 4.38 4.94 5.48 6.03 6.80

17.50% 19% 15% 13% 11% 9% 9%

27% 27% 27% 27% 27% 27% 27%
16
37.9896602
1165327
32.6
58.500% 58.700% 58.500% 58.500% 58.500% 58.500% 58.500%
1.6000% 1.6000% 1.6000% 1.6000% 1.6000% 1.6000% 1.6000%
32.201% 32.200% 31.500% 31.500% 31.500% 31.500% 31.500%
Exhibit 2
PROJECTED
Assets 6/30/2011 6/30/2012 6/30/2013 6/30/2014
Cash $ 4.102 $ 4.672 $ 5.279 $ 5.860
Accounts Receivable $ 16.632 $ 20.791 $ 23.360 $ 25.825
Inventories $ 11.878 $ 14.798 $ 16.627 $ 18.381
Prepaid Expenses $ 0.969 $ 1.214 $ 1.364 $ 1.508
Total Current Assets $ 33.581 $ 41.475 $ 46.630 $ 51.574
$ 0.6620 $ 0.5700 $ 0.6070 $ 0.5810
Net Property & Equipment $ 22.400 $ 25.157 $ 28.427 $ 31.554
Other Long-Term Assets $ 3.639 $ 4.189 $ 4.733 $ 5.254
Total Assets $ 59.620 $ 70.821 $ 79.790 $ 88.382
Net Cash $ 1.323 $ 4.383 $ 4.936 $ 5.483
Aumento Cash $ 0.662 $ 0.570 $ 0.607 $ 0.581

Growth rate of assets

Liabilities & Owners´Equity 6/30/2011 6/30/2012 6/30/2013 6/30/2014

Bank Notes Payable $ 14.882 $ 16.625 $ 17.506 $ 19.432
Accounts Payable $ 3.905 $ 4.866 $ 5.466 $ 6.043
Current Portion of Long-Term Debt $ 1.483 $ 1.614 $ 1.751 $ 1.841
Accrued Expenses $ 1.489 $ 1.658 $ 1.746 $ 1.938
Total Current Liabilities $ 21.759 $ 24.762 $ 26.469 $ 29.255

Long-Term Debt $ 22.247 $ 24.204 $ 26.258 $ 27.614

Total Liabilities $ 44.006 $ 48.966 $ 52.727 $ 56.869

Common Stock $ 6.881 $ 6.881 $ 6.881 $ 6.881

New Stock Issue $ - $ - $ - $ -
Retained Earnings $ 9.267 $ 13.650 $ 18.586 $ 24.069
Total Shareholder Equity 16.148 20.531 25.467 30.950

Total Liabilities&Net Worth $ 60.154 $ 69.498 $ 78.194 $ 87.819

Total DEbt $ 38.612 $ 42.443 $ 45.515 $ 48.887

Interest $ 3.19 $ 3.50 $ 3.75 $ 4.03
Debt index 64.76% 59.93% 57.04% 55.31%
Owners Equity 239% 207% 179% 158%
Financial Leverage 3.69 3.45 3.13 2.86

Rot CxC 4.87 4.87 4.87 4.87

Rot Invent 4 4 4 4
% Long Term Debt 6.67% 6.67% 6.67% 6.67%
% accrued expenses 10% 10% 10% 10%
Interest Bank 8.25% 8.25% 8.25% 8.25%
Rot CxP 12.167 12.165 12.168 12.166
 Prepaid Expenses Rel 3% 3% 3% 3%

WITHOUT SELLING COMMON STOCKS PROJECTED

Assets 6/30/2011 6/30/2012 6/30/2013 6/30/2014
Total Assets 59.62 70.82 79.79 88.38
Total Liabilities 44.01 48.97 52.73 56.87
Total Shareholder Equity 16.1 20.5 25.5 30.9
Debt index 64.8% 59.9% 57.0% 55.3%
Financial Leverage 3.69 3.45 3.13 2.86

AFTER SELLING COMMON STOCKS PROJECTED

Assets 6/30/2011 6/30/2012 6/30/2013 6/30/2014
Total Assets 59.62 81.82 90.79 99.38
Total Liabilities 44.01 48.97 52.73 56.87
Total Shareholder Equity 16.1 31.5 36.5 41.9
Debt index 64.76% 51.87% 50.13% 49.19%
Financial Leverage 3.69 2.59 2.49 2.37

2011 2012 2013 2014

D.I. Inicial Proyectado 62.35% 60.86% 59.34% 57.42%
D.I. Venta acciones comunes 62.35% 52.37% 51.90% 50.85%
D.I. invirtiendo en TV show 64.765% 59.930% 57.043% 55.313%
D.I. Inv. Tv Show y Venta acciones 64.76% 51.87% 50.13% 49.19%
Bank requirement 55% 55% 55% 55%

Debt Index
65.00%

60.00%

55.00%

50.00%

45.00%
2011 2011.5 2012 2012.5 2013 2013.5 2014 2014.5 2015
D.I. Ini ci al Proyecta do D.I. Venta acci ones comunes
D.I. i nvi rtiendo en TV s how D.I. Inv. Tv Show y Venta a cci ones
Bank requi rement
 45.00%
2011 2011.5 2012 2012.5 2013 2013.5 2014 2014.5 2015
D.I. Ini ci al Proyecta do D.I. Venta acci ones comunes
D.I. i nvi rtiendo en TV s how D.I. Inv. Tv Show y Venta a cci ones
Bank requi rement

Flujo de Caja 2011 2012 2013 2014

FCL Proyectado
FCL Venta acciones comunes
FCL invirtiendo en TV show
FCL Inv. Tv Show y Venta acciones
ED
6/30/2015 Ingreso Cash} 0
$ 6.387
$ 28.076 4.867 $ 4.867
$ 19.983
$ 1.640
$ 56.085
$ 0.5270
$ 34.395
$ 5.727
$ 96.207
$ 6.028
$ 0.527

6/30/2015
$ 21.181 $ 0.215
$ 6.570 -$ 0.00
$ 1.869 $ 0.00
$ 2.113
$ 31.733

$ 28.028
$ 59.761
$ 6.881
$ -
$ 30.097
36.978

$ 96.739
Tasa Prime 3.25%
$ 51.078
$ 4.21
53.09% < 55%
138%
2.60 < 2.7

4.87
4
6.67%
10%
8.25%
12.166
 3%

ED
6/30/2015
96.21
59.76
37.0
53.1%
2.60

ED
6/30/2015
107.21
59.76
48.0
47.64% < 55
2.23 < 2,77

2015 2011 2012

55.04% E.M. Inicial Proyectado 3.47 3.30
49.21% E.M. Venta acciones comunes 3.47 2.50
53.091% E.M. invirtiendo en TV show 3.69 3.45
47.64% E.M. Inv. Tv Show y Venta acciones 3.69 2.59
55% Bank requirement 2.77 2.77

Equity Multiplier
3.80

3.60

3.40

3.20

3.00

2.80

2.60

2.40

2.20

2014.5 2015 2.00

2011 2011.5 2012 2012.5 2013 2013.5 2014
nes comunes
E.M. Ini ci al Proyecta do E.M. Venta acciones
w y Venta a cci ones
E.M. i nvi rtiendo en TV s how E.M. Inv. Tv Show y Ve
Bank requi rement
 2.20

2014.5 2015 2.00

2011 2011.5 2012 2012.5 2013 2013.5 2014
nes comunes
E.M. Ini ci al Proyecta do E.M. Venta acciones
w y Venta a cci ones
E.M. i nvi rtiendo en TV s how E.M. Inv. Tv Show y Ve
Bank requi rement

2015
 2013 2014 2015
3.15 2.97 2.77
2.48 2.42 2.33
3.13 2.86 2.60
2.49 2.37 2.23
2.77 2.77 2.77

Multiplier

13 2013.5 2014 2014.5 2015

E.M. Venta acciones comunes
E.M. Inv. Tv Show y Venta a cci ones
13 2013.5 2014 2014.5 2015
E.M. Venta acciones comunes
E.M. Inv. Tv Show y Venta a cci ones
 Capital Budgeting
Analysis of Television
Programa Opportunity
Initial Investment Cash Flows YEAR 0
Equipment - 1.4400
Growth Rate of Sales 5%
Operating Cash Flows YEAR 1 YEAR 2
Sales $ 8.100 $ 8.51
percentage of cost of Goods 58.50% 58.50%
Cost of Goods Sold at 58,5% of sales $ 4.74 $ 4.98
Gross Profit Margin $ 3.36 $ 3.53
percentage of Promotion expense 11% 11%
Promotion Expense at 11% of Sales $ 0.89 $ 0.94
Increase General & Administrative Expense 5%
General & Administrative Expense $ 0.760 $ 0.798
Depreciation Expense $ 0 $ 0
Incremental Operating profit $ 1.423 $ 1.508

Taxes 27% 27%

Income Taxes at 27% $ 0.384 $ 0.407
Incremental Net Income $ 1.038 $ 1.101

+ Depreciation Expense $ 0.288 $ 0.288

Incremental Operating Cash Flow $ 1.326 $ 1.389

Yearly Net Working Capital Investment YEAR 1 YEAR 2

# account receivable over year of 365 days 4.87 4.87
A/R at 75 Days Sales Outstanding $ 1.6644 $ 1.7476
Additional A/R at 75 Days Sales Outstanding $ 1.6644 $ 0.0832
Inventory at 4 Inventory turns $ 1.1846 $ 1.2439
Additional Inventory at 4 Inventory turns $ 1.1846 $ 0.0592
# A/P OVER YEAR OF 365 DAYS $ 12.1667 $ 12.1667
A/P at 30 Days COGS $ 0.3895 $ 0.4089
Additional A/P at 30 Days COGS $ 0.3895 $ 0.0195
Total NWC Investment -$ 2.4595 -$ 0.1230

Terminal Cash Flows YEAR 1 YEAR 2

Recovery of NWC
Total Project Cash Flow - 1 -$ 1.133 $ 1.266
Internal Rate of Return 41.28%
Net Present Value at 20% $ 1.716
Net Present Value at 15% $ 2.405
Net Present Value at 10% $ 3.278
 5% 5% 5%
YEAR 3 YEAR 4 YEAR 5
$ 8.93 $ 9.38 $ 9.85
58.50% 58.50% 58.50%
$ 5.22 $ 5.49 $ 5.76
$ 3.71 $ 3.89 $ 4.09
11% 11% 11%
$ 0.98 $ 1.03 $ 1.08
5% 5% 5%
$ 0.838 $ 0.880 $ 0.924
$ 0 $ 0 $ 0
$ 1.598 $ 1.692 $ 1.791

27% 27% 27% - 3

$ 0.431 $ 0.457 $ 0.484
$ 1.166 $ 1.235 $ 1.308

$ 0.288 $ 0.288 $ 0.288

$ 1.454 $ 1.523 $ 1.596

YEAR 3 YEAR 4 YEAR 5

4.87 4.87 4.87
$ 1.8350 $ 1.9267 $ 2.0231
$ 0.0874 $ 0.0917 $ 0.0963
$ 1.3060 $ 1.3714 $ 1.4399
$ 0.0622 $ 0.0653 $ 0.0686
$ 12.1667 $ 12.1667 $ 12.1667
$ 0.4294 $ 0.4509 $ 0.4734
$ 0.0204 $ 0.0215 $ 0.0225
-$ 0.1291 -$ 0.1356 -$ 0.1424

YEAR 3 YEAR 4 YEAR 5

$ 3
$ 1.325 $ 1.388 $ 4.443