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

Year 1 Year 2 Year 3 Year 4 Year 5 5 year total
Total Investment $ 1,000,000 $ 2,000,000 $ - $ - $ - 3,000,000
REVENUE
Subscription $ 426,806 81% $ 3,074,794 69% $ 7,350,863 69% $ 11,849,963 68% $ 16,349,063 67% 39,051,488
Total Transactions $ 101,033 19% $ 929,890 21% $ 2,237,313 21% $ 3,744,666 21% $ 5,399,619 22% 12,412,520
Company Marketing $ - 0% $ 442,700 10% $ 1,079,900 10% $ 1,844,700 11% $ 2,708,000 11% 6,075,300
Advertising $ - 0% $ - 0% $ - 0% $ - 0% $ - 0% -
Total Revenue $ 527,839 100% $ 4,447,383 100% $ 10,668,076 100% $ 17,439,329 100% $ 24,456,682 100% 57,539,308
Cost of Goods Sold $ 142,692 27% $ 855,925 19% $ 1,826,898 17% $ 2,388,465 14% $ 2,829,924 12% 8,043,905
Gross Profit $ 385,147 73% $ 3,591,458 81% $ 8,841,177 83% $ 15,050,863 86% $ 21,626,757 88% 49,495,403
Expenses
Sales & Marketing $ 92,477 18% $ 463,838 10% $ 1,154,913 11% $ 1,387,481 8% $ 1,625,435 7% 4,724,144
Operations $ 101,105 19% $ 774,942 17% $ 2,262,468 21% $ 3,704,637 21% $ 5,251,802 21% 12,094,953
IT $ 672,917 127% $ 615,469 14% $ 292,750 3% $ 346,500 2% $ 413,688 2% 2,341,323
Office & Admin $ 240,295 46% $ 1,542,059 35% $ 2,875,036 27% $ 3,454,769 20% $ 3,937,821 16% 12,049,980
Depr & Amort $ 1,864 0% $ 20,039 0% $ 49,369 0% $ 86,741 0% $ 113,381 0% 271,394
Total expenses $ 1,108,658 210% $ 3,416,346 77% $ 6,634,535 62% $ 8,980,128 51% $ 11,342,127 46% 31,481,794
EBIT $ (723,511) -137% $ 175,112 4% $ 2,206,642 21% $ 6,070,735 35% $ 10,284,630 42% 18,013,609
Net earnings $ (751,011) -142% $ 145,112 3% $ 1,537,076 14% $ 3,624,441 21% $ 6,152,778 25% 10,708,396
EBITDA $ (721,647) -137% $ 195,150 4% $ 2,256,011 21% $ 6,157,476 35% $ 10,398,011 43% 18,285,003
Free Cash Flow $ (974,727) -185% $ (655,580) -15% $ 233,981 2% $ 2,390,715 14% $ 4,858,975 20% 5,853,365
Total team members 9 27 44 52 56

Rev/team member 58,649 164,718 242,456 335,372 436,726
Markets 2 6 10 14 18 18
Trial Users 29,640 23,896 43,892 63,888 83,884 83,884
Subscribers 17,072 135,796 393,961 751,578 1,148,954 1,148,954
Companies 316 1,183 2,365 3,712 5,227 5,227
Certificates redeemed 67,355 619,926 1,491,542 2,496,444 3,599,746 3,599,746
Ending cash $ 65,273 $ 1,544,694 $ 2,098,675 $ 4,749,390 $ 9,888,365
Year 1 Year 2 Year 3 Year 4 Year 5 5 year total

Development costs*
$ 650,000 $ 500,000 $ - $ - $ - 1,150,000
* Development costs are expensed, and included in IT expense
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 $ 5,000 Make adjustments here
Annual fee paid by customers $ 25.00 Make adjustments here
No. of transactions/mo/company during trial phase 1.0 Make adjustments here
No. of transactions/mo/company during customer phase 0.75 Make adjustments here
% of trial users will become members 75% Make adjustments here
Max. No. of Transactions per company (trail) 50 Make adjustments here
Max. No. of Transactions per company (customers) 50 Make adjustments here
Revenue per transaction $ 1.50 Make adjustments here
Company marketing revenue (per mo per member company) $ 100 Make adjustments here
% of new companies that will join Company marketing 0% Make adjustments here
% of existing companies that will join Company mkting 50% Make adjustments here
Accounts Receivable (% of previous mo's rev) 150% Make adjustments here
Market Calculator (see the calculator tab) 3 Start month

Mos. Between adding new
Beg. Mo End Mo. market
1 6 5.0
7 12 5.0
13 18 3.0
19 24 3.0
25 60 3.0
Subscriber Calculator (see the calculator tab) 200 # of Trial Users (1st mo)
50000 Max number of users in a mkt
Mo. Growth Annual
Beg. Mo End Mo. Year
Rate Attrition
1 6 75.00% 1 0.00%
7 9 15.00% 2 25.00%
10 12 0.00% 3 30.00%
13 24 0.00% 4 35.00%
25 60 0.00% 5 40.00%
Company Calculator (see the calculator tab) 20 # of companies (1st mo)

5,000 Max companies per market
Mo. Growth Annual
Beg. Mo. End. Mo Year
Rate Attrition
1 6 50.00% 1 0.00%
7 9 10.00% 2 10.00%
10 12 5.00% 3 15.00%
13 24 2.00% 4 20.00%
25 60 1.00% 5 25.00%
Assumptions
Assumptions
Assumptions 2004 2005 2006 2007 2008

Revenue - 186,582 643,549 1,198,043 1,773,387 24,456,682
Company Stage Pre Launch 2.0 3.0 3.0 3.0
Cost of Goods Sold 2004 2005 2006 2007 2008

Start up costs 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 one time fee
Website 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 one time fee
Maintenance 3,000.00 2,500.00 2,000.00 2,000.00 2,000.00 per month per city
Transaction fees 0.75 0.75 0.75 0.75 0.75 per certificate (capped at $100K)
Credit card fees 1.00 1.00 1.00 1.00 1.00 per new subscriber
Network costs 0.15 0.15 0.15 0.15 0.15 per certificate
EXPENSES 2004 2005 2006 2007 2008

Sales & Marketing
Sales & Mkting - Salaries
Payroll tax
Consumer Mkting
Marketing $ - $ 3,250.00 $ 4,350.00 $ 5,000.00 $ 5,600.00 Calculated on "revenue" page
Branding $ - $ 1,000.00 $ 5,250.00 $ 11,000.00 $ 17,000.00 Calculated on "revenue" page
Total Consumer Mkting
Company Mkting
Commissions 25.00 25.00 25.00 25.00 25.00 per new restaurant
Association Mkting 0.00 500.00 500.00 500.00 500.00 per month per city
Total Company Mkting
Other Mkting Exp
Trade Show - Chgo In May of each year
Trade Shows - Other 0.00 0.00 10,000.00 10,000.00 10,000.00 per month
Meals & Ent 0.00 25.00 50.00 50.00 50.00 per employee per month
Designer 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 one time fee (for each new city)
Promotions/Postage 2,000.00 1,000.00 1,000.00 1,000.00 1,000.00 one time fee (for each new city)
Travel Expense 0.00 150.00 150.00 150.00 150.00 per employee per month
Printing 100.00 250.00 500.00 500.00 500.00 per month
Total Other Mkting
Total Sales & Marketing
Operations
Operations - Salaries
Payroll tax
Call Center 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00 per month
Company Support 10.00 10.00 10.00 10.00 10.00 per month per restaurant
Customer Support 0.25 0.25 0.25 0.25 0.25 per month per consumer
Total Operations
IT
IT - Salaries
Payroll tax
Hosting 500.00 1,000.00 2,000.00 2,000.00 2,000.00 per month
Development
Total IT
Office & Admin
Office & Admin - Salaries
Payroll Taxes
Ins - P & C 100.00 100.00 100.00 100.00 100.00 per month per employee
Ins - W/C 200.00 200.00 200.00 200.00 200.00 per month per employee
Ins - Disability 100.00 100.00 100.00 100.00 100.00 per month per employee
Health Ins 400.00 500.00 600.00 600.00 600.00 per month per employee
Life Ins 150.00 200.00 250.00 250.00 250.00 per month per employee
Ins - D&O 400.00 600.00 750.00 750.00 750.00 per month
Professional Fees 0.05 0.04 0.04 0.04 0.04 % of revenue
Gen Liability Ins 500.00 600.00 700.00 700.00 700.00 per month
Payroll Service 100.00 100.00 100.00 100.00 100.00 per month
Dues & Subs 0.00 0.00 0.00 0.00 0.00 % of revenue
HR Recruiting 1,000.00 1,500.00 2,500.00 2,500.00 2,500.00 per month
Misc. Office Exp 200.00 200.00 200.00 200.00 200.00 per month per employee
Rent Expense 0.00 0.00 0.00 0.00 0.00 Calculated in IS
Equipment Rental 150.00 200.00 400.00 400.00 400.00 per month per employee
Office Supplies 50.00 100.00 100.00 100.00 100.00 per month per employee
Postage 50.00 100.00 100.00 100.00 100.00 per month per employee
Telephone 200.00 250.00 250.00 250.00 250.00 per month per employee
Utilities 175.00 200.00 250.00 250.00 250.00 per month per employee
Vehicle Expense 100.00 150.00 200.00 200.00 200.00 per month per employee
Assumptions
Basic ratios and rates

Interest rate (received) 0% Make adjustments here
Interest rate (paid) 10% Make adjustments here
Corporate tax rate 40% Make adjustments here
Payroll tax expense 7.5% Make adjustments here
Rent - dollar per square foot $ 12 Make adjustments here
Square foot per employee, average 200 Make adjustments here
Per employee hired (equipment, computers, furniture, et $ 5,000
Consumer annual fee $ 25.00
Certificates/mo/restaurant (trial phase) 1.0
Certificates/mo/restaurants (Customer phase) 0.75
% of trial users will become members 75%
Max. No. of Transactions per rest. (trail) 50
Max. No. of Transactions per rest. (customers) 50
Revenue per certificate (transaction) 1.5

CMS revenue (per mo per member rest.) $ 100.00
% of new rest that will join CMS 0%
% of existing rest that will join CMS 50%
Balance Sheet Assumptions

Accounts Receivable 150% of last month's sales
Accounts payable 100% of certain expenses (previous mo.)
Accrued liabilities
Depreciation schedule - Transaction Equipment
Purchase when monthly cost = 100,000
Purchase price 100,000
Monthly cost stays constant at 100,000
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
1 2 3 4 5 6 7 8 9 10 11 12 Totals %
Projected I/S
Starting Cash - 459,208 420,940 353,389 303,931 740,119 692,025 563,990 425,001 330,581 214,190 138,708
Investment
Equity 250,000 - - - 500,000 - - - 750,000
Debt 250,000 - - - - - 250,000
Debt/equity added (deducted) in p 500,000 - - - 500,000 - - - - - - - 1,000,000
Company Stage Pre Launch Pre Launch Pre Launch Pre Launch Pre Launch Pre Launch 1.0 1.0 1.0 1.0 1.0 1.0 1.0
REVENUE
Subscription - - - 3,750 6,563 11,494 20,119 35,213 65,381 77,438 93,000 113,850 426,806 80.9%
Transactions - Trial Users - - 300 525 920 1,610 2,817 5,231 6,195 7,440 9,108 10,316 44,460 8.4%
Transactions - Customers - - - 169 464 981 1,887 3,471 6,413 9,898 14,083 19,206 56,573 10.7%
Total Transactions - - 300 694 1,384 2,591 4,704 8,702 12,608 17,338 23,191 29,522 101,033 19.1%
Company Marketing - - - - - - - - - - - - - 0.0%
Advertising - 0.0%
Total Revenue - - 300 4,444 7,946 14,085 24,822 43,914 77,990 94,776 116,191 143,372 527,839 100.0%
Cost of Goods Sold

Start up costs - - 5,000 - - - - 5,000 - - - - 10,000 1.9%
Website - - 5,000 - - - - 5,000 - - - - 10,000 1.9%
Maintenance - - 3,000 3,000 3,000 3,000 3,000 6,000 6,000 6,000 6,000 6,000 45,000 8.5%
Transaction fees - - 150 347 692 1,295 2,352 4,351 6,304 8,669 11,596 14,761 50,516 9.6%
Credit card fees - - - 150 263 460 805 1,409 2,615 3,098 3,720 4,554 17,072 3.2%
Network costs - - 30 69 138 259 470 870 1,261 1,734 2,319 2,952 10,103 1.9%
Total COGS - - 13,180 3,566 4,093 5,014 6,627 22,630 16,180 19,500 23,635 28,267 142,692 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%
EXPENSES
Sales & Marketing
Sales & Mkting - Salaries - - - - - - 2,000 6,917 6,917 6,917 6,917 6,917 36,583 6.9%
Payroll tax - - - - - - 150 519 519 519 519 519 2,744 0.5%
Total Company Mkting - - 500 250 375 575 1,350 2,775 1,625 1,800 2,050 2,100 13,400 2.5%
Total Other Mkting - - 4,100 100 10,100 100 100 4,100 100 100 100 100 19,000 3.6%
Total Sales & Marketing - - 6,100 1,850 11,975 2,175 5,100 17,310 11,660 11,835 12,085 12,385 92,477 17.5%
Operations
Operations - Salaries 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 6,667 43,333 8.2%
Payroll tax 250 250 250 250 250 250 250 250 250 250 250 500 3,250 0.6%
Call Center - - 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 20,000 3.8%
Company Support - - 200 300 450 680 1,020 1,730 1,980 2,300 2,720 3,160 14,540 2.8%
Customer Support - - 50 125 256 486 889 1,643 2,458 3,440 4,648 5,987 19,982 3.8%
Total Operations 3,583 3,583 5,833 6,008 6,290 6,750 7,492 8,956 10,021 11,323 12,951 18,314 101,105 19.2%
IT
IT - Salaries - - - - - - - 3,333 3,333 3,333 3,333 3,333 16,667 3.2%
Payroll tax - - - - - - - 250 250 250 250 250 1,250 0.2%
Hosting - - 500 500 500 500 500 500 500 500 500 500 5,000 0.9%
Development 33,333 33,333 33,333 33,333 33,333 33,333 75,000 75,000 75,000 75,000 75,000 75,000 650,000 123.1%
Total IT 33,333 33,333 33,833 33,833 33,833 33,833 75,500 79,083 79,083 79,083 79,083 79,083 672,917 127.5%
Office & Admin
Office & Admin - Salaries - - - - - - 10,833 10,833 10,833 10,833 10,833 10,833 65,000 12.3%
Payroll Taxes - - - - - - 813 813 813 813 813 813 4,875 0.9%
Ins - P & C 100 100 100 100 100 100 500 800 800 800 800 900 5,200 1.0%
Ins - W/C 200 200 200 200 200 200 1,000 1,600 1,600 1,600 1,600 1,800 10,400 2.0%
Ins - Disability 100 100 100 100 100 100 500 800 800 800 800 900 5,200 1.0%
Health Ins 400 400 400 400 400 400 2,000 3,200 3,200 3,200 3,200 3,600 20,800 3.9%
Life Ins 150 150 150 150 150 150 750 1,200 1,200 1,200 1,200 1,350 7,800 1.5%
Ins - D&O 400 400 400 400 400 400 400 400 400 400 400 400 4,800 0.9%
Professional Fees - - 15 222 397 704 1,241 2,196 3,899 4,739 5,810 7,169 26,392 5.0%
Gen Liability Ins 500 500 500 500 500 500 500 500 500 500 500 500 6,000 1.1%
Payroll Service 100 100 100 100 100 100 500 800 800 800 800 900 5,200 1.0%
Dues & Subs - - 0 4 8 14 25 44 78 95 116 143 528 0.1%
HR Recruiting 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 12,000 2.3%
Misc. Office Exp 200 200 200 200 200 200 1,000 1,600 1,600 1,600 1,600 1,800 10,400 2.0%
Rent Expense - - 1,800 1,800 1,800 1,800 1,800 1,800 1,800 1,800 1,800 1,800 18,000 3.4%
Equipment Rental 150 150 150 150 150 150 750 1,200 1,200 1,200 1,200 1,350 7,800 1.5%
Office Supplies 50 50 50 50 50 50 250 400 400 400 400 450 2,600 0.5%
Postage 50 50 50 50 50 50 250 400 400 400 400 450 2,600 0.5%
Telephone 200 200 200 200 200 200 1,000 1,600 1,600 1,600 1,600 1,800 10,400 2.0%
Utilities 175 175 175 175 175 175 875 1,400 1,400 1,400 1,400 1,575 9,100 1.7%
Vehicle Expense 100 100 100 100 100 100 500 800 800 800 800 900 5,200 1.0%
Total Office & Admin 3,875 3,875 5,690 5,902 6,080 6,393 26,487 33,385 35,123 35,979 37,072 40,433 240,295 45.5%
Depreciation - - - - - - - 238 414 409 404 399 1,864 0.4%
Amortization
Total Expenses 40,792 40,792 51,457 47,593 58,178 49,151 114,579 138,974 136,302 138,630 141,595 150,615 1,108,658 210.0%
EBIT (40,792) (40,792) (64,337) (46,716) (54,325) (40,081) (96,383) (117,689) (74,493) (63,355) (49,039) (35,510) (723,511) -137.1%
Interest Expense - (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (27,500) -5.2%
Interest Income - 0.0%
EBT (40,792) (43,292) (66,837) (49,216) (56,825) (42,581) (98,883) (120,189) (76,993) (65,855) (51,539) (38,010) (751,011) -142.3%
Allowance for tax - - - - - - - - - - - - - 0.0%
Net earnings (40,792) (43,292) (66,837) (49,216) (56,825) (42,581) (98,883) (120,189) (76,993) (65,855) (51,539) (38,010) (751,011) -142.3%
Adjustments 0.0%
Interest, net - 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 27,500 5.2%
Tax - - - - - - - - - - - - - 0.0%
Deprec & Amort - - - - - - - 238 414 409 404 399 1,864 0.4%
Total adjustments - 2,500 2,500 2,500 2,500 2,500 2,500 2,738 2,914 2,909 2,904 2,899 29,364 5.6%
EBITDA (40,792) (40,792) (64,337) (46,716) (54,325) (40,081) (96,383) (117,451) (74,079) (62,946) (48,635) (35,111) (721,647) -136.7%
Free Cash Flow (40,792) (38,268) (67,551) (49,457) (63,813) (48,093) (128,036) (138,988) (94,420) (116,391) (75,481) (73,435) (974,727) -184.7%
1 2 3 4 5 6 7 8 9 10 11 12 Totals %
Projected B/S
ASSETS
Current assets
Cash 459,208 420,940 353,389 303,931 740,119 692,025 563,990 425,001 330,581 214,190 138,708 65,273 65,273
A/R - - - 450 6,666 11,919 21,127 37,234 65,871 116,984 142,163 174,287 174,287
Prepaid exp - - - - - - - - - - - - -
Inventory - - - - - - - - - - - - -
Other current assets - - - - - - - - - - - - -
Total current assets 459,208 420,940 353,389 304,381 746,784 703,944 585,116 462,235 396,453 331,174 280,872 239,560 239,560
Property/equip, net - - - - - - 20,000 34,762 34,348 33,939 33,535 38,136 38,136
Other LT assets - - - - - - - - - - - - -
Goodwill, net - - - - - - - - - - - - -
Total assets 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
LIABILITIES
Current Liabilities
A/P - 5,738 5,738 6,660 6,602 7,058 7,827 20,611 32,122 33,004 34,550 36,564 36,564
Other Current Liab - - - - - - - - - - - - -
Total current liabilities - 5,738 5,738 6,660 6,602 7,058 7,827 20,611 32,122 33,004 34,550 36,564 36,564
LT Note 250,000 249,286 248,571 247,857 247,143 246,429 245,714 245,000 244,286 243,571 242,857 242,143 242,143
Total liabilities 250,000 255,023 254,309 254,518 253,745 253,486 253,542 265,611 276,408 276,575 277,407 278,706 36,564
EQUITY
Capital 250,000 250,000 250,000 250,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000
Retained earnings (40,792) (84,083) (150,920) (200,136) (256,961) (299,542) (398,425) (518,614) (595,607) (661,462) (713,001) (751,011) (751,011)
Total equity 209,208 165,917 99,080 49,864 493,039 450,458 351,575 231,386 154,393 88,538 36,999 (1,011) (1,011)
Total liabilities and equity 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
Projected CFS
Cash Flow from Operations
Net Income (40,792) (43,292) (66,837) (49,216) (56,825) (42,581) (98,883) (120,189) (76,993) (65,855) (51,539) (38,010) (751,011)
Adjustments
Depreciation - - - - - - - 238 414 409 404 399 1,864
Amortization -
Change in inventory - - - - - - - - - - - - -
Change in A/R - - - (450) (6,216) (5,253) (9,208) (16,107) (28,638) (51,113) (25,179) (32,123) (174,287)
Change in A/P - 5,738 - 923 (58) 455 770 12,784 11,511 882 1,547 2,013 36,564
Cash from operations (40,792) (37,554) (66,837) (48,743) (63,098) (47,379) (107,322) (123,274) (93,706) (115,677) (74,767) (67,721) (886,869)
Cash Flow from Investing

Purchase/sale of equip - - - - - - (20,000) (15,000) - - - (5,000) (40,000)
Acquisitions
Cash from Investing Activities - - - - - - (20,000) (15,000) - - - (5,000) (40,000)
Cash Flow from Financing

Proceeds from equity, net 250,000 - - - 500,000 - - - - - - - 750,000
Proceeds from debt, net 250,000 (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) 242,143
Cash from Financing Activities 500,000 (714) (714) (714) 499,286 (714) (714) (714) (714) (714) (714) (714) 992,143
Beginning cash balance - 459,208 420,940 353,389 303,931 740,119 692,025 563,990 425,001 330,581 214,190 138,708 -
Increase (decrease) in cash 459,208 (38,268) (67,551) (49,457) 436,187 (48,093) (128,036) (138,988) (94,420) (116,391) (75,481) (73,435) 65,273
Ending cash balance 459,208 420,940 353,389 303,931 740,119 692,025 563,990 425,001 330,581 214,190 138,708 65,273 65,273
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 2,000,000
Debt - -
Debt/equity added (deducted) in p 2,000,000 - - - - - - - - - - - 2,000,000
Company Stage 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
REVENUE
Subscription 128,944 159,113 171,169 186,731 211,331 229,238 260,588 282,206 310,744 354,319 375,938 404,475 3,074,794 69.1%
Transactions - Trial Users 12,729 13,694 14,939 16,907 18,339 20,847 22,577 24,860 28,346 30,075 32,358 35,844 271,512 6.1%
Transactions - Customers 25,009 32,169 35,175 40,275 44,700 50,775 56,250 61,275 68,775 74,550 80,700 88,725 658,378 14.8%
Total Transactions 37,738 45,862 50,114 57,182 63,039 71,622 78,827 86,135 97,121 104,625 113,058 124,569 929,890 20.9%
Company Marketing 19,900 21,700 23,500 26,900 29,800 33,900 37,500 40,900 45,900 49,700 53,800 59,200 442,700 10.0%
Advertising - - 0.0%
Total Revenue 186,582 226,675 244,782 270,813 304,170 334,760 376,914 409,241 453,764 508,644 542,796 588,244 4,447,383 100.0%
Cost of Goods Sold

Start up costs 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.4%
Website 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.4%
Maintenance 7,500 7,500 7,500 10,000 10,000 10,000 12,500 12,500 12,500 15,000 15,000 15,000 135,000 3.0%
Transaction fees 18,869 22,931 25,057 28,591 31,520 35,811 39,413 43,067 48,560 52,313 56,529 62,285 464,945 10.5%
Credit card fees 5,158 6,365 6,847 7,469 8,453 9,170 10,424 11,288 12,430 14,173 15,038 16,179 122,992 2.8%
Network costs 3,774 4,586 5,011 5,718 6,304 7,162 7,883 8,613 9,712 10,463 11,306 12,457 92,989 2.1%
Total COGS 45,300 41,382 44,415 61,778 56,277 62,143 80,219 75,469 83,202 101,948 97,872 105,920 855,925 19.2%
Gross Profit 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%
EXPENSES
Sales & Marketing
Sales & Mkting - Salaries 13,917 13,917 13,917 19,750 19,750 19,750 22,750 22,750 22,750 22,750 22,750 22,750 237,500 5.3%
Payroll tax 1,044 1,044 1,044 1,481 1,481 1,481 1,706 1,706 1,706 1,706 1,706 1,706 17,813 0.4%
Total Company Mkting 3,550 2,400 2,375 3,700 3,475 4,025 4,325 4,175 5,000 4,925 5,050 5,675 48,675 1.1%
Total Other Mkting 6,575 3,575 3,575 7,625 24,625 4,625 7,800 4,800 4,975 7,975 4,975 4,975 86,100 1.9%
Total Sales & Marketing 29,335 24,685 24,860 38,006 55,031 35,581 43,281 40,331 41,331 45,506 42,631 43,256 463,838 10.4%
Operations
Operations - Salaries 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 34,167 34,167 34,167 34,167 376,667 8.5%
Payroll tax 2,250 2,250 2,250 2,250 2,250 2,250 2,250 2,250 2,562 2,562 2,562 2,562 28,250 0.6%
Call Center 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.5%
Company Support 3,980 4,340 4,690 5,370 5,960 6,770 7,500 8,170 9,170 9,940 10,760 11,830 88,480 2.0%
Customer Support 7,679 9,431 11,350 13,536 15,872 18,553 21,397 24,512 28,037 31,674 35,582 39,923 257,546 5.8%
Total Operations 45,909 48,021 50,290 53,156 56,082 59,573 63,147 66,932 75,936 80,344 85,071 90,482 774,942 17.4%
IT
IT - Salaries 4,583 4,583 4,583 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 96,250 2.2%
Payroll tax 344 344 344 687 687 687 687 687 687 687 687 687 7,219 0.2%
Hosting 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 12,000 0.3%
Development 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 500,000 11.2%
Total IT 47,594 47,594 47,594 52,521 52,521 52,521 52,521 52,521 52,521 52,521 52,521 52,521 615,469 13.8%
Office & Admin
Office & Admin - Salaries 37,917 37,917 37,917 45,833 45,833 45,833 45,833 45,833 45,833 45,833 45,833 45,833 526,250 11.8%
Payroll Taxes 2,844 2,844 2,844 3,438 3,438 3,438 3,438 3,438 3,438 3,438 3,438 3,438 39,469 0.9%
Ins - P & C 1,900 1,900 1,900 2,500 2,500 2,500 2,600 2,600 2,700 2,700 2,700 2,700 29,200 0.7%
Ins - W/C 3,800 3,800 3,800 5,000 5,000 5,000 5,200 5,200 5,400 5,400 5,400 5,400 58,400 1.3%
Ins - Disability 1,900 1,900 1,900 2,500 2,500 2,500 2,600 2,600 2,700 2,700 2,700 2,700 29,200 0.7%
Health Ins 9,500 9,500 9,500 12,500 12,500 12,500 13,000 13,000 13,500 13,500 13,500 13,500 146,000 3.3%
Life Ins 3,800 3,800 3,800 5,000 5,000 5,000 5,200 5,200 5,400 5,400 5,400 5,400 58,400 1.3%
Ins - D&O 600 600 600 600 600 600 600 600 600 600 600 600 7,200 0.2%
Professional Fees 7,463 9,067 9,791 10,833 12,167 13,390 15,077 16,370 18,151 20,346 21,712 23,530 177,895 4.0%
Payroll Service 1,900 1,900 1,900 2,500 2,500 2,500 2,600 2,600 2,700 2,700 2,700 2,700 29,200 0.7%
Dues & Subs 19 23 24 27 30 33 38 41 45 51 54 59 445 0.0%
HR Recruiting 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 18,000 0.4%
Misc. Office Exp 3,800 3,800 3,800 5,000 5,000 5,000 5,200 5,200 5,400 5,400 5,400 5,400 58,400 1.3%
Rent Expense 5,400 5,400 5,400 5,400 5,400 5,400 5,400 5,400 5,400 5,400 5,400 5,400 64,800 1.5%
Equipment Rental 3,800 3,800 3,800 5,000 5,000 5,000 5,200 5,200 5,400 5,400 5,400 5,400 58,400 1.3%
Office Supplies 1,900 1,900 1,900 2,500 2,500 2,500 2,600 2,600 2,700 2,700 2,700 2,700 29,200 0.7%
Postage 1,900 1,900 1,900 2,500 2,500 2,500 2,600 2,600 2,700 2,700 2,700 2,700 29,200 0.7%
Telephone 4,750 4,750 4,750 6,250 6,250 6,250 6,500 6,500 6,750 6,750 6,750 6,750 73,000 1.6%
Utilities 3,800 3,800 3,800 5,000 5,000 5,000 5,200 5,200 5,400 5,400 5,400 5,400 58,400 1.3%
Vehicle Expense 2,850 2,850 2,850 3,750 3,750 3,750 3,900 3,900 4,050 4,050 4,050 4,050 43,800 1.0%
Total Office & Admin 101,942 103,550 104,276 128,230 129,568 130,795 134,885 136,181 140,367 142,567 143,937 145,759 1,542,059 34.7%
Depreciation 454 1,580 1,561 1,542 1,881 1,859 1,836 1,874 1,852 1,889 1,867 1,845 20,039 0.5%
Amortization
Total Expenses 225,235 225,430 228,581 273,456 295,083 280,329 295,671 297,839 312,006 322,827 326,027 333,863 3,416,346 76.8%
EBIT (83,953) (40,137) (28,214) (64,421) (47,189) (7,712) 1,024 35,933 58,556 83,869 118,896 148,460 175,112 3.9%
Interest Expense (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (2,500) (27,500) -0.6%
Interest Income 0.0%
EBT (86,453) (42,637) (30,714) (66,921) (49,689) (10,212) (1,476) 33,433 56,056 81,369 116,396 145,960 145,112 3.3%
Allowance for tax - - - - - - - - - - - - - 0.0%
Net earnings (86,453) (42,637) (30,714) (66,921) (49,689) (10,212) (1,476) 33,433 56,056 81,369 116,396 145,960 145,112 3.3%
Adjustments 0.0%
Interest, net 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.7%
Tax - - - - - - - - - - - - - 0.0%
Deprec & Amort 454 1,580 1,561 1,542 1,881 1,859 1,836 1,874 1,852 1,889 1,867 1,845 20,039 0.5%
Total adjustments 2,954 4,080 4,061 4,042 4,381 4,359 4,336 4,374 4,352 4,389 4,367 4,345 50,039 1.1%
EBITDA (83,499) (38,557) (26,653) (62,879) (45,308) (5,853) 2,860 37,807 60,408 85,758 120,763 150,305 195,150 4.4%
Free Cash Flow (217,443) (63,206) (89,321) (122,203) (63,840) (57,435) (48,573) (22,916) 5,423 23,161 37,668 98,105 (655,580) -14.7%
13 14 15 16 17 18 19 20 21 22 23 24 Totals %
Projected B/S
ASSETS
Current assets
Cash 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 1,544,694 1,544,694
A/R 215,058 279,872 340,012 367,173 406,219 456,255 502,139 565,371 613,861 680,646 762,966 814,193 814,193
Prepaid exp - - - - - - - - - - - - -
Inventory - - - - - - - - - - - - -
Total current assets ### 2,062,888 2,064,497 2,035,316 1,940,274 1,915,480 1,908,081 1,905,392 1,945,708 1,999,621 2,089,567 2,209,555 2,358,887 2,358,887
Property/equip, net 132,682 131,102 129,542 157,999 156,119 154,260 157,424 155,549 158,698 156,808 154,942 153,097 153,097
Other LT assets - - - - - - - - - - - - -
Goodwill, net - - - - - - - - - - - - -
Total assets ### 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
LIABILITIES
Current Liabilities
A/P 41,605 84,985 85,672 86,724 110,452 112,121 114,786 120,509 122,228 129,631 132,070 134,312 134,312
Total current liabilities### 41,605 84,985 85,672 86,724 110,452 112,121 114,786 120,509 122,228 129,631 132,070 134,312 134,312
LT Note 241,429 240,714 240,000 239,286 238,571 237,857 237,143 236,428 235,714 235,000 234,286 233,571 233,571
Total liabilities ### 283,034 325,700 325,672 326,009 349,023 349,978 351,929 356,937 357,943 364,631 366,356 367,883 134,312
EQUITY
Capital 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000
Retained earnings (837,464) (880,101) (910,815) (977,736) (1,027,425) (1,037,637) (1,039,113) (1,005,680) (949,624) (868,256) (751,859) (605,899) (605,899)
Total equity ### 1,912,536 1,869,899 1,839,185 1,772,264 1,722,575 1,712,363 1,710,887 1,744,320 1,800,376 1,881,744 1,998,141 2,144,101 2,144,101
Total liabilities and equity### 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
Projected CFS
Net Income (86,453) (42,637) (30,714) (66,921) (49,689) (10,212) (1,476) 33,433 56,056 81,369 116,396 145,960 145,112
Adjustments
Depreciation 454 1,580 1,561 1,542 1,881 1,859 1,836 1,874 1,852 1,889 1,867 1,845 20,039
Amortization -
Change in A/R (40,771) (64,815) (60,140) (27,161) (39,046) (50,036) (45,884) (63,232) (48,490) (66,785) (82,319) (51,228) (639,907)
Change in A/P 5,042 43,380 687 1,052 23,728 1,669 2,665 5,723 1,719 7,403 2,439 2,242 97,748
Cash from operations (121,729) (62,492) (88,606) (91,488) (63,126) (56,721) (42,859) (22,202) 11,137 23,876 38,382 98,819 (377,008)

Purchase/sale of equip (95,000) - - (30,000) - - (5,000) - (5,000) - - - (135,000)
Acquisitions
Cash from Investing Activities (95,000) - - (30,000) - - (5,000) - (5,000) - - - (135,000)

Proceeds from equity, net 2,000,000 - - - - - - - - - - - 2,000,000
Proceeds from debt, net (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (8,571)
Cash from Financing Activities 1,999,286 (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) 1,991,429
Beginning cash balance 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 65,273
Increase (decrease) in cash 1,782,557 (63,206) (89,321) (122,203) (63,840) (57,435) (48,573) (22,916) 5,423 23,161 37,668 98,105 1,479,420
Ending cash balance 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 1,544,694 1,544,694
25 26 27 28 29 30 31 32 33 34 35 36 Totals %
Projected I/S
Starting Cash 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
Investment
Equity - -
Debt -
Debt/equity added (deducted) in p - - - - - - - - - - - - -
Company Stage 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
REVENUE
Subscription 448,050 469,669 498,206 541,781 563,400 591,938 635,513 657,131 685,669 729,244 750,863 779,400 7,350,863 68.9%
Transactions - Customers 94,725 101,625 109,650 116,025 122,850 131,175 138,075 144,675 153,750 161,025 168,300 177,375 1,619,250 15.2%
Total Transactions 132,299 141,482 152,993 161,097 170,205 182,016 190,646 199,529 212,090 221,094 230,652 243,213 2,237,313 21.0%
Company Marketing 63,200 67,800 73,100 77,400 81,900 87,500 92,100 96,500 102,500 107,400 112,200 118,300 1,079,900 10.1%
Total Revenue 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 1,140,913 10,668,076 100.0%
Cost of Goods Sold

Start up costs 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.2%
Website 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.2%
Maintenance 14,000 14,000 14,000 16,000 16,000 16,000 18,000 18,000 18,000 20,000 20,000 20,000 204,000 1.9%
Transaction fees 66,149 70,741 76,496 80,549 85,103 91,008 95,323 99,764 100,000 100,000 100,000 100,000 1,065,132 10.0%
Credit card fees 17,922 18,787 19,928 21,671 22,536 23,678 25,421 26,285 27,427 29,170 30,035 31,176 294,035 2.8%
Network costs 13,230 14,148 15,299 16,110 17,021 18,202 19,065 19,953 21,209 22,109 23,065 24,321 223,731 2.1%
Total COGS 121,301 117,676 125,724 144,329 140,659 148,887 167,808 164,002 166,636 181,279 173,100 175,497 1,826,898 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%
EXPENSES
Sales & Marketing
Payroll tax 3,375 3,594 3,594 3,594 3,594 3,594 3,594 3,594 4,000 4,344 4,344 4,344 45,563 0.4%
Total Sales & Marketing 84,375 85,410 85,985 90,385 127,535 88,235 92,710 89,810 96,858 106,335 103,335 103,935 1,154,913 10.8%
Operations
Operations - Salaries 84,167 84,167 84,167 84,167 84,167 89,167 89,167 89,167 89,167 89,167 89,167 89,167 1,045,000 9.8%
Payroll tax 6,313 6,313 6,313 6,313 6,313 6,688 6,688 6,688 6,688 6,688 6,688 6,688 78,375 0.7%
Call Center 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.2%
Company Support 12,630 13,550 14,620 15,470 16,380 17,490 18,410 19,290 20,500 21,470 22,440 23,650 215,900 2.0%
Customer Support 44,369 49,049 54,184 59,412 64,878 70,771 76,703 82,843 89,308 95,771 102,441 109,463 899,193 8.4%
Total Operations 149,479 155,078 161,283 167,361 173,738 186,115 192,967 199,988 207,662 215,095 222,735 230,967 2,262,468 21.2%
IT
IT - Salaries 18,750 18,750 18,750 18,750 18,750 18,750 18,750 18,750 25,000 25,000 25,000 25,000 250,000 2.3%
Payroll tax 1,406 1,406 1,406 1,406 1,406 1,406 1,406 1,406 1,875 1,875 1,875 1,875 18,750 0.2%
Hosting 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.2%
Development - - - - - - - - - - - - - 0.0%
Total IT 22,156 22,156 22,156 22,156 22,156 22,156 22,156 22,156 28,875 28,875 28,875 28,875 292,750 2.7%
Office & Admin
Payroll Taxes 5,063 5,312 5,312 5,312 5,312 5,312 5,312 5,312 5,312 5,312 5,312 5,312 63,500 0.6%
Ins - P & C 3,700 4,000 4,000 4,000 4,000 4,100 4,100 4,100 4,300 4,400 4,400 4,400 49,500 0.5%
Ins - W/C 7,400 8,000 8,000 8,000 8,000 8,200 8,200 8,200 8,600 8,800 8,800 8,800 99,000 0.9%
Ins - Disability 3,700 4,000 4,000 4,000 4,000 4,100 4,100 4,100 4,300 4,400 4,400 4,400 49,500 0.5%
Health Ins 22,200 24,000 24,000 24,000 24,000 24,600 24,600 24,600 25,800 26,400 26,400 26,400 297,000 2.8%
Life Ins 9,250 10,000 10,000 10,000 10,000 10,250 10,250 10,250 10,750 11,000 11,000 11,000 123,750 1.2%
Ins - D&O 750 750 750 750 750 750 750 750 750 750 750 750 9,000 0.1%
Payroll Service 3,700 4,000 4,000 4,000 4,000 4,100 4,100 4,100 4,300 4,400 4,400 4,400 49,500 0.5%
Dues & Subs 64 68 72 78 82 86 92 95 100 106 109 114 1,067 0.0%
HR Recruiting 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.3%
Misc. Office Exp 7,400 8,000 8,000 8,000 8,000 8,200 8,200 8,200 8,600 8,800 8,800 8,800 99,000 0.9%
Rent Expense 8,800 8,800 8,800 8,800 8,800 8,800 8,800 8,800 8,800 8,800 8,800 8,800 105,600 1.0%
Office Supplies 3,700 4,000 4,000 4,000 4,000 4,100 4,100 4,100 4,300 4,400 4,400 4,400 49,500 0.5%
Postage 3,700 4,000 4,000 4,000 4,000 4,100 4,100 4,100 4,300 4,400 4,400 4,400 49,500 0.5%
Telephone 9,250 10,000 10,000 10,000 10,000 10,250 10,250 10,250 10,750 11,000 11,000 11,000 123,750 1.2%
Utilities 9,250 10,000 10,000 10,000 10,000 10,250 10,250 10,250 10,750 11,000 11,000 11,000 123,750 1.2%
Vehicle Expense 7,400 8,000 8,000 8,000 8,000 8,200 8,200 8,200 8,600 8,800 8,800 8,800 99,000 0.9%
Depreciation 1,823 4,003 4,134 4,085 4,036 3,988 4,000 3,953 3,906 5,169 5,167 5,105 49,369 0.5%
Amortization
Total Expenses 472,792 495,072 503,688 516,222 561,024 538,632 552,106 557,492 586,357 609,541 615,532 626,077 6,634,535 62.2%
EBIT 49,455 66,202 94,887 119,727 113,822 173,935 198,344 231,666 247,266 266,918 305,083 339,339 2,206,642 20.7%
EBT 46,955 63,702 92,387 117,227 111,322 171,435 195,844 229,166 244,766 264,418 302,583 336,839 2,176,642 20.4%
Allowance for tax 18,782 - - - - - 69,676 91,666 97,906 105,767 121,033 134,735 639,567 6.0%
Net earnings 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 14.4%
Adjustments 0.0%
Interest, net 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.3%
Tax 18,782 - - - - - 69,676 91,666 97,906 105,767 121,033 134,735 639,567 6.0%
Deprec & Amort 1,823 4,003 4,134 4,085 4,036 3,988 4,000 3,953 3,906 5,169 5,167 5,105 49,369 0.5%
Total adjustments 23,105 6,503 6,634 6,585 6,536 6,488 76,176 98,119 104,312 113,436 128,700 142,341 718,935 6.7%
EBITDA 51,278 70,206 99,021 123,812 117,858 177,923 202,344 235,619 251,171 272,087 310,250 344,444 2,256,011 21.1%
Free Cash Flow (220,220) 32,423 57,751 55,695 33,007 119,080 68,073 58,022 (10,483) 99,751 106,325 154,558 233,981 2.2%
25 26 27 28 29 30 31 32 33 34 35 36 Totals %
Projected B/S
ASSETS
Current assets
Cash 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 2,098,675 2,098,675
A/R 882,366 965,323 1,018,425 1,086,448 1,170,417 1,223,258 1,292,180 1,377,387 1,429,740 1,500,387 1,586,607 1,640,572 1,640,572
Prepaid exp - - - - - - - - - - - - -
Inventory - - - - - - - - - - - - -
Other LT assets - - - - - - - - - - - - -
Goodwill, net - - - - - - - - - - - - -
Total assets ### 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
LIABILITIES
Current Liabilities
A/P 137,983 201,371 216,418 219,538 221,870 224,082 231,623 234,115 235,933 248,227 254,769 256,798 256,798
LT Note 232,857 232,143 231,428 230,714 230,000 229,286 228,571 227,857 227,143 226,428 225,714 225,000 225,000
EQUITY
Capital 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000
Retained earnings (577,726) (514,024) (421,637) (304,410) (193,089) (21,654) 104,514 242,014 388,873 547,524 729,074 931,177 931,177
Total equity ### 2,172,274 2,235,976 2,328,363 2,445,590 2,556,911 2,728,346 2,854,514 2,992,014 3,138,873 3,297,524 3,479,074 3,681,177 3,681,177
Projected CFS
Net Income 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
Adjustments
Depreciation 1,823 4,003 4,134 4,085 4,036 3,988 4,000 3,953 3,906 5,169 5,167 5,105 49,369
Amortization -
Change in A/R (68,173) (82,957) (53,103) (68,023) (83,969) (52,840) (68,923) (85,207) (52,353) (70,648) (86,219) (53,965) (826,379)
Change in A/P 3,671 63,388 15,047 3,120 2,332 2,212 7,541 2,491 1,818 12,294 6,542 2,029 122,486
Cash from operations (34,506) 48,137 58,465 56,409 33,721 124,795 68,787 58,737 100,231 105,466 107,039 155,272 882,552

Purchase/sale of equip (185,000) (15,000) - - - (5,000) - - (110,000) (5,000) - - (320,000)
Acquisitions
Cash from Investing Activities (185,000) (15,000) - - - (5,000) - - (110,000) (5,000) - - (320,000)

Proceeds from equity, net - - - - - - - - - - - - -
Cash from Financing Activities (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (714) (8,571)
Beginning cash balance 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 1,544,694
Increase (decrease) in cash (220,220) 32,423 57,751 55,695 33,007 119,080 68,073 58,022 (10,483) 99,751 106,325 154,558 553,981
37 38 39 40 41 42 43 44 45 46 47 48 Totals %
Projected I/S
Starting Cash 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
Investment
Equity - -
Debt -
Company Stage 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
REVENUE
Subscription 822,975 844,594 873,131 916,706 938,325 966,863 1,010,438 1,032,056 1,060,594 1,104,169 1,125,788 1,154,325 11,849,963 67.9%
Total Revenue 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 1,714,157 17,439,329 100.0%
Cost of Goods Sold

Start up costs 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.1%
Website 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.1%
Maintenance 22,000 22,000 22,000 24,000 24,000 24,000 26,000 26,000 26,000 28,000 28,000 28,000 300,000 1.7%
Credit card fees 32,919 33,784 34,925 36,668 37,533 38,675 40,418 41,282 42,424 44,167 45,032 46,173 473,999 2.7%
Network costs 25,207 26,238 27,501 28,424 29,440 30,711 31,671 32,672 34,033 35,046 36,100 37,423 374,467 2.1%
Total COGS 190,126 182,021 184,426 199,092 190,973 193,386 208,089 199,955 202,457 217,213 209,131 211,596 2,388,465 13.7%
Gross Profit 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%
EXPENSES
Sales & Marketing
Payroll tax 4,344 4,344 4,344 4,344 4,344 4,344 4,344 4,344 4,344 4,688 4,688 4,688 53,156 0.3%
Operations
Payroll tax 7,063 7,063 7,063 7,063 8,563 8,563 8,563 8,563 8,563 8,938 8,938 8,938 97,875 0.6%
Call Center 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.1%
Company Support 24,600 25,670 26,890 27,890 28,940 30,170 31,220 32,250 33,600 34,720 35,820 37,120 368,890 2.1%
Customer Support 116,474 123,649 131,202 138,730 146,428 154,470 162,422 170,510 178,822 186,995 195,303 203,866 1,908,872 10.9%
IT
IT - Salaries 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 1.7%
Payroll tax 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 22,500 0.1%
Hosting 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.1%
Development - - - - - - - - - - - - - 0.0%
Total IT 28,875 28,875 28,875 28,875 28,875 28,875 28,875 28,875 28,875 28,875 28,875 28,875 346,500 2.0%
Office & Admin
Payroll Taxes 5,312 5,312 5,312 5,312 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 66,750 0.4%
Ins - P & C 4,500 4,500 4,500 4,500 5,000 5,000 5,000 5,000 5,000 5,200 5,200 5,200 58,600 0.3%
Ins - W/C 9,000 9,000 9,000 9,000 10,000 10,000 10,000 10,000 10,000 10,400 10,400 10,400 117,200 0.7%
Ins - Disability 4,500 4,500 4,500 4,500 5,000 5,000 5,000 5,000 5,000 5,200 5,200 5,200 58,600 0.3%
Health Ins 27,000 27,000 27,000 27,000 30,000 30,000 30,000 30,000 30,000 31,200 31,200 31,200 351,600 2.0%
Life Ins 11,250 11,250 11,250 11,250 12,500 12,500 12,500 12,500 12,500 13,000 13,000 13,000 146,500 0.8%
Ins - D&O 750 750 750 750 750 750 750 750 750 750 750 750 9,000 0.1%
Payroll Service 4,500 4,500 4,500 4,500 5,000 5,000 5,000 5,000 5,000 5,200 5,200 5,200 58,600 0.3%
Dues & Subs 120 124 128 134 138 142 148 152 157 163 167 171 1,744 0.0%
HR Recruiting 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.2%
Misc. Office Exp 9,000 9,000 9,000 9,000 10,000 10,000 10,000 10,000 10,000 10,400 10,400 10,400 117,200 0.7%
Rent Expense 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400 10,400 124,800 0.7%
Office Supplies 4,500 4,500 4,500 4,500 5,000 5,000 5,000 5,000 5,000 5,200 5,200 5,200 58,600 0.3%
Postage 4,500 4,500 4,500 4,500 5,000 5,000 5,000 5,000 5,000 5,200 5,200 5,200 58,600 0.3%
Telephone 11,250 11,250 11,250 11,250 12,500 12,500 12,500 12,500 12,500 13,000 13,000 13,000 146,500 0.8%
Utilities 11,250 11,250 11,250 11,250 12,500 12,500 12,500 12,500 12,500 13,000 13,000 13,000 146,500 0.8%
Vehicle Expense 9,000 9,000 9,000 9,000 10,000 10,000 10,000 10,000 10,000 10,400 10,400 10,400 117,200 0.7%
Depreciation 5,044 7,663 7,572 7,482 7,392 7,602 7,512 7,422 7,334 7,246 7,279 7,193 86,741 0.5%
Amortization
Total Expenses 650,650 660,217 671,052 686,263 775,562 747,278 763,084 770,448 782,658 815,070 822,877 834,969 8,980,128 51.5%
EBIT 357,266 393,131 427,164 455,092 410,889 484,209 512,079 549,677 583,812 595,948 633,876 667,592 6,070,735 34.8%
EBT 354,766 390,631 424,664 452,592 408,389 481,709 509,579 547,177 581,312 593,448 631,376 665,092 6,040,735 34.6%
Allowance for tax 141,907 156,252 169,866 181,037 163,356 192,684 203,832 218,871 232,525 237,379 252,550 266,037 2,416,294 13.9%
Net earnings 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 20.8%
Adjustments 0.0%
Interest, net 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.2%
Tax 141,907 156,252 169,866 181,037 163,356 192,684 203,832 218,871 232,525 237,379 252,550 266,037 2,416,294 13.9%
Deprec & Amort 5,044 7,663 7,572 7,482 7,392 7,602 7,512 7,422 7,334 7,246 7,279 7,193 86,741 0.5%
Total adjustments 149,451 166,415 179,937 191,018 173,248 202,786 213,843 228,793 242,359 247,126 262,330 275,729 2,533,035 14.5%
EBITDA 362,311 400,793 434,736 462,574 418,281 491,811 519,591 557,099 591,146 603,195 641,155 674,785 6,157,476 35.3%
Free Cash Flow (75,046) 162,080 208,221 210,641 142,440 263,721 244,723 250,062 302,169 283,284 307,316 351,104 2,390,715 13.7%
37 38 39 40 41 42 43 44 45 46 47 48 Totals %
Projected B/S
ASSETS
Current assets
Cash 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 4,749,390 4,749,390
A/R 1,711,370 1,797,064 1,853,054 1,923,964 2,010,671 2,066,136 2,137,309 2,224,878 2,280,118 2,353,391 2,442,348 2,498,825 2,498,825
Prepaid exp - - - - - - - - - - - - -
Inventory - - - - - - - - - - - - -
Other LT assets - - - - - - - - - - - - -
Goodwill, net - - - - - - - - - - - - -
Total assets ### 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
LIABILITIES
Current Liabilities
A/P 260,360 266,807 269,362 272,591 275,026 298,299 301,650 304,268 306,270 310,225 321,107 323,156 323,156
LT Note 224,286 223,571 222,857 222,143 221,428 220,714 220,000 219,286 218,571 217,857 217,143 216,428 216,428
EQUITY
Capital 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000
Retained earnings 1,144,037 1,378,415 1,633,214 1,904,769 2,149,802 2,438,828 2,744,575 3,072,881 3,421,668 3,777,737 4,156,563 4,555,618 4,555,618
Total equity ### 3,894,037 4,128,415 4,383,214 4,654,769 4,899,802 5,188,828 5,494,575 5,822,881 6,171,668 6,527,737 6,906,563 7,305,618 7,305,618
Projected CFS
Net Income 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
Adjustments
Depreciation 5,044 7,663 7,572 7,482 7,392 7,602 7,512 7,422 7,334 7,246 7,279 7,193 86,741
Amortization -
Change in A/R (70,798) (85,694) (55,990) (70,910) (86,707) (55,465) (71,173) (87,569) (55,240) (73,273) (88,957) (56,478) (858,254)
Change in A/P 3,562 6,447 2,555 3,229 2,435 23,273 3,351 2,618 2,002 3,955 10,882 2,049 66,358
Cash from operations 150,668 162,794 208,935 211,355 168,154 264,435 245,437 250,776 302,883 293,998 308,030 351,819 2,919,287

Purchase/sale of equip (225,000) - - - (25,000) - - - - (10,000) - - (260,000)
Acquisitions
Cash from Investing Activities (225,000) - - - (25,000) - - - - (10,000) - - (260,000)

Increase (decrease) in cash (75,046) 162,080 208,221 210,641 142,440 263,721 244,723 250,062 302,169 283,284 307,316 351,104 2,650,715
49 50 51 52 53 54 55 56 57 58 59 60 Totals %
Projected I/S
Starting Cash 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
Investment
Equity - -
Debt -
Company Stage 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
REVENUE
Subscription 1,197,900 1,219,519 1,248,056 1,291,631 1,313,250 1,341,788 1,385,363 1,406,981 1,435,519 1,479,094 1,500,713 1,529,250 16,349,063 66.8%
Transactions - Trial Users 97,562 99,845 103,331 105,060 107,343 110,829 112,559 114,842 118,328 120,057 122,340 125,826 1,337,919 5.5%
Total Revenue 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 2,308,501 24,456,682 100.0%
Cost of Goods Sold

Start up costs 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.1%
Website 5,000 - - 5,000 - - 5,000 - - 5,000 - - 20,000 0.1%
Maintenance 30,000 30,000 30,000 32,000 32,000 32,000 34,000 34,000 34,000 36,000 36,000 36,000 396,000 1.6%
Credit card fees 47,916 48,781 49,922 51,665 52,530 53,672 55,415 56,279 57,421 59,164 60,029 61,170 653,963 2.7%
Network costs 38,429 39,572 40,918 41,961 43,074 44,428 45,523 46,614 48,058 49,221 50,379 51,785 539,962 2.2%
Total COGS 226,345 218,353 220,840 235,626 227,604 230,099 244,938 236,893 239,479 254,384 246,408 248,955 2,829,924 11.6%
Gross Profit 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%
EXPENSES
Sales & Marketing
Payroll tax 4,688 4,688 5,094 5,094 5,094 5,094 5,094 5,094 5,094 5,438 5,438 5,438 61,344 0.3%
Operations
Payroll tax 8,938 8,938 8,938 8,938 8,938 8,938 8,938 9,313 9,313 9,313 9,313 9,313 109,125 0.4%
Call Center 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.1%
Company Support 38,230 39,450 40,780 41,940 43,120 44,460 45,690 46,840 48,300 49,620 50,860 52,270 541,560 2.2%
Customer Support 212,281 220,779 229,564 238,183 246,894 255,852 264,568 273,339 282,217 290,798 299,431 308,210 3,122,117 12.8%
IT
IT - Salaries 25,000 25,000 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 362,500 1.5%
Payroll tax 1,875 1,875 2,344 2,344 2,344 2,344 2,344 2,344 2,344 2,344 2,344 2,344 27,188 0.1%
Hosting 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 0.1%
Development - - - - - - - - - - - - - 0.0%
Total IT 28,875 28,875 35,594 35,594 35,594 35,594 35,594 35,594 35,594 35,594 35,594 35,594 413,688 1.7%
Office & Admin
Payroll Taxes 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 5,687 68,250 0.3%
Ins - P & C 5,200 5,200 5,400 5,400 5,400 5,400 5,400 5,500 5,500 5,600 5,600 5,600 65,200 0.3%
Ins - W/C 10,400 10,400 10,800 10,800 10,800 10,800 10,800 11,000 11,000 11,200 11,200 11,200 130,400 0.5%
Ins - Disability 5,200 5,200 5,400 5,400 5,400 5,400 5,400 5,500 5,500 5,600 5,600 5,600 65,200 0.3%
Health Ins 31,200 31,200 32,400 32,400 32,400 32,400 32,400 33,000 33,000 33,600 33,600 33,600 391,200 1.6%
Life Ins 13,000 13,000 13,500 13,500 13,500 13,500 13,500 13,750 13,750 14,000 14,000 14,000 163,000 0.7%
Ins - D&O 750 750 750 750 750 750 750 750 750 750 750 750 9,000 0.0%
Payroll Service 5,200 5,200 5,400 5,400 5,400 5,400 5,400 5,500 5,500 5,600 5,600 5,600 65,200 0.3%
Dues & Subs 177 181 186 192 196 201 207 211 216 222 226 231 2,446 0.0%
HR Recruiting 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.1%
Misc. Office Exp 10,400 10,400 10,800 10,800 10,800 10,800 10,800 11,000 11,000 11,200 11,200 11,200 130,400 0.5%
Rent Expense 11,200 11,200 11,200 11,200 11,200 11,200 11,200 11,200 11,200 11,200 11,200 11,200 134,400 0.5%
Office Supplies 5,200 5,200 5,400 5,400 5,400 5,400 5,400 5,500 5,500 5,600 5,600 5,600 65,200 0.3%
Postage 5,200 5,200 5,400 5,400 5,400 5,400 5,400 5,500 5,500 5,600 5,600 5,600 65,200 0.3%
Telephone 13,000 13,000 13,500 13,500 13,500 13,500 13,500 13,750 13,750 14,000 14,000 14,000 163,000 0.7%
Utilities 13,000 13,000 13,500 13,500 13,500 13,500 13,500 13,750 13,750 14,000 14,000 14,000 163,000 0.7%
Vehicle Expense 10,400 10,400 10,800 10,800 10,800 10,800 10,800 11,000 11,000 11,200 11,200 11,200 130,400 0.5%
Depreciation 7,107 10,118 9,997 9,997 9,878 9,761 9,644 9,530 9,476 9,363 9,311 9,200 113,381 0.5%
Amortization
Total Expenses 852,110 863,586 894,324 911,077 959,352 931,766 948,755 965,223 978,173 1,003,062 1,011,164 1,023,536 11,342,127 46.4%
EBIT 694,932 730,600 745,972 774,238 772,637 846,501 875,403 905,207 939,945 961,954 1,001,231 1,036,010 10,284,630 42.1%
EBT 692,432 728,100 743,472 771,738 770,137 844,001 872,903 902,707 937,445 959,454 998,731 1,033,510 10,254,630 41.9%
Allowance for tax 276,973 291,240 297,389 308,695 308,055 337,600 349,161 361,083 374,978 383,782 399,492 413,404 4,101,852 16.8%
Net earnings 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 25.2%
Adjustments 0.0%
Interest, net 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 30,000 0.1%
Tax 276,973 291,240 297,389 308,695 308,055 337,600 349,161 361,083 374,978 383,782 399,492 413,404 4,101,852 16.8%
Deprec & Amort 7,107 10,118 9,997 9,997 9,878 9,761 9,644 9,530 9,476 9,363 9,311 9,200 113,381 0.5%
Total adjustments 286,580 303,858 309,886 321,192 320,433 349,861 361,306 373,112 386,954 395,645 411,303 425,104 4,245,233 17.4%
EBITDA 702,039 740,717 755,969 784,235 782,515 856,262 885,048 914,736 949,421 971,317 1,010,542 1,045,210 10,398,011 42.5%
Free Cash Flow 92,914 360,047 389,259 410,982 384,275 459,724 462,863 457,358 519,944 507,909 522,289 571,412 4,858,975 19.9%
49 50 51 52 53 54 55 56 57 58 59 60 Totals %
Projected B/S
ASSETS
Current assets
Cash 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 9,888,365 9,888,365
A/R 2,571,236 2,660,080 2,718,807 2,791,705 2,881,412 2,939,390 3,012,550 3,103,644 3,160,984 3,236,394 3,329,101 3,388,204 3,388,204
Prepaid exp - - - - - - - - - - - - -
Inventory - - - - - - - - - - - - -
Other LT assets - - - - - - - - - - - - -
Goodwill, net - - - - - - - - - - - - -
Total assets ### 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
LIABILITIES
Current Liabilities
A/P 326,628 329,256 331,877 343,431 346,166 348,421 351,772 354,785 360,841 364,838 371,999 373,921 373,921
LT Note 215,714 215,000 214,286 213,571 212,857 212,143 211,428 210,714 210,000 209,285 208,571 207,857 207,857
EQUITY
Capital 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000 2,750,000
Retained earnings 4,971,077 5,407,937 5,854,021 6,317,063 6,779,145 7,285,546 7,809,288 8,350,912 8,913,379 9,489,051 10,088,290 10,708,396 10,708,396
Total equity ### 7,721,077 8,157,937 8,604,021 9,067,063 9,529,145 10,035,546 10,559,288 11,100,912 11,663,379 12,239,051 12,838,290 13,458,396 13,458,396
Projected CFS
Net Income 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
Adjustments
Depreciation 7,107 10,118 9,997 9,997 9,878 9,761 9,644 9,530 9,476 9,363 9,311 9,200 113,381
Amortization -
Change in A/R (72,410) (88,844) (58,728) (72,898) (89,707) (57,978) (73,160) (91,094) (57,340) (75,410) (92,707) (59,103) (889,379)
Change in A/P 3,473 2,628 2,621 11,553 2,735 2,255 3,351 3,013 6,056 3,998 7,161 1,922 50,766
Cash from operations 353,629 360,761 399,974 411,696 384,989 460,439 463,577 463,072 520,659 513,623 523,003 572,126 5,427,547

Purchase/sale of equip (260,000) - (10,000) - - - - (5,000) - (5,000) - - (280,000)
Acquisitions
Cash from Investing Activities (260,000) - (10,000) - - - - (5,000) - (5,000) - - (280,000)

Increase (decrease) in cash 92,914 360,047 389,259 410,982 384,275 459,724 462,863 457,358 519,944 507,909 522,289 571,412 5,138,975
Staffing
Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1 Year 1
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Revenue 0 0 300 4,444 7,946 14,085 24,822 43,914 77,990 94,776 116,191 143,372 527,839
HEAD COUNT
Executive
CEO 0 0 0 0 0 0 1 1 1 1 1 1 1
CFO 0 0 0 0 0 0 1 1 1 1 1 1 1
COO 0 0 0 0 0 0 1 1 1 1 1 1 1
CIO 0 0 0 0 0 0 0 0 0 0 0 0 0
CMO 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Executive 0 0 0 0 0 0 3 3 3 3 3 3 3
Administrative
Admin Asst 0 0 0 0 0 0 0 0 0 0 0 0 0
Accounting 0 0 0 0 0 0 0 0 0 0 0 0 0
HR 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Admin 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales - Biz Dev
Director 0 0 0 0 0 0 0 0 0 0 0 0 0
Acct Execs 0 0 0 0 0 0 0 1 1 1 1 1 1
Total Sales - Biz Dev 0 0 0 0 0 0 0 1 1 1 1 1 1
Operations
Manager 0 0 0 0 0 0 0 0 0 0 0 0 0
Call Center 1 1 1 1 1 1 1 1 1 1 1 2 2
Cust Srvc 0 0 0 0 0 0 0 0 0 0 0 0 0
Field Ops 0 0 0 0 0 0 0 0 0 0 0 0 0
Trainers 0 0 0 0 0 0 0 0 0 0 0 0 0
QA 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Operations 1 1 1 1 1 1 1 1 1 1 1 2 2
Marketing
Marketing Mgr 0 0 0 0 0 0 0 0 0 0 0 0 0
Acct Exec 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Mkting 0 0 0 0 0 0 0 0 0 0 0 0 0
IT
Technicians 0 0 0 0 0 0 0 1 1 1 1 1 1
Total IT 0 0 0 0 0 0 0 1 1 1 1 1 1
Sales - Field Reps
City Manager 0 0 0 0 0 0 1 2 2 2 2 2 2
Support 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Field Reps 0 0 0 0 0 0 1 2 2 2 2 2 2
TOTAL EMPLOYEES 1 1 1 1 1 1 5 8 8 8 8 9 9
New Employees 1 0 0 0 0 0 4 3 0 0 0 1 8
Revenue per employee $ - $ - $ 300 $ 4,444 $ 7,946 $ 14,085 $ 4,964 $ 5,489 $ 9,749 $ 11,847 $ 14,524 $ 15,930 $ 58,649
Staffing
Revenue 0 0 300 4,444 7,946 14,085 24,822 43,914 77,990 94,776 116,191 143,372 527,839
SALARY EXPENSE
Executive Avg. Sal
CEO $ 60,000 - - - - - - 5,000 5,000 5,000 5,000 5,000 5,000 30,000
CFO $ 20,000 - - - - - - 1,667 1,667 1,667 1,667 1,667 1,667 10,000
COO $ 50,000 - - - - - - 4,167 4,167 4,167 4,167 4,167 4,167 25,000
CIO $ 50,000 - - - - - - - - - - - - -
CMO $ 50,000 - - - - - - - - - - - - -
Total Executive - - - - - - 10,833 10,833 10,833 10,833 10,833 10,833 65,000
Administrative
Admin Asst $ 30,000 - - - - - - - - - - - - -
Accounting $ 45,000 - - - - - - - - - - - - -
HR $ 35,000 - - - - - - - - - - - - -
Total Admin - - - - - - - - - - - - -
Sales - Biz Dev
Director $ 40,000 - - - - - - - - - - - - -
Acct Execs $ 35,000 - - - - - - - 2,917 2,917 2,917 2,917 2,917 14,583
Total Sales - Biz Dev - - - - - - - 2,917 2,917 2,917 2,917 2,917 14,583
Operations
Manager $ 45,000 - - - - - - - - - - - - -
Call Center $ 40,000 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 6,667 43,333
Cust Srvc $ 40,000 - - - - - - - - - - - - -
Field Ops $ 40,000 - - - - - - - - - - - - -
Trainers $ 40,000 - - - - - - - - - - - - -
QA $ 40,000 - - - - - - - - - - - - -
Total Operations 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 6,667 43,333
Marketing
Marketing Mgr $ 30,000 - - - - - - - - - - - - -
Acct Exec $ 25,000 - - - - - - - - - - - - -
Total Mkting - - - - - - - - - - - - -
IT
Technicians $ 40,000 - - - - - - - 3,333 3,333 3,333 3,333 3,333 16,667
Total IT - - - - - - - 3,333 3,333 3,333 3,333 3,333 16,667
Sales - Field Reps
City Manager $ 24,000 - - - - - - 2,000 4,000 4,000 4,000 4,000 4,000 22,000
Support $ 10,000 - - - - - - - - - - - - -
Total Field Reps - - - - - - 2,000 4,000 4,000 4,000 4,000 4,000 22,000
Total Comp. - Employees 3,333 3,333 3,333 3,333 3,333 3,333 16,167 24,417 24,417 24,417 24,417 27,750 161,583
Staffing
Revenue 186,582 226,675 244,782 270,813 304,170 334,760 376,914 409,241 453,764 508,644 542,796 588,244 4,447,383
Company Stage 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
HEAD COUNT
Executive
CEO 1 1 1 1 1 1 1 1 1 1 1 1 1
CFO 1 1 1 1 1 1 1 1 1 1 1 1 1
COO 1 1 1 1 1 1 1 1 1 1 1 1 1
CIO 1 1 1 1 1 1 1 1 1 1 1 1 1
CMO 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Executive 5 5 5 5 5 5 5 5 5 5 5 5 5
Administrative
Admin Asst 1 1 1 1 1 1 1 1 1 1 1 1 1
Accounting 0 0 0 1 1 1 1 1 1 1 1 1 1
HR 0 0 0 1 1 1 1 1 1 1 1 1 1
Total Admin 1 1 1 3 3 3 3 3 3 3 3 3 3
Sales - Biz Dev
Director 1 1 1 1 1 1 1 1 1 1 1 1 1
Acct Execs 1 1 1 2 2 2 2 2 2 2 2 2 2
Operations
Manager 1 1 1 1 1 1 1 1 1 1 1 1 1
Call Center 2 2 2 2 2 2 2 2 3 3 3 3 3
Cust Srvc 1 1 1 1 1 1 1 1 1 1 1 1 1
Field Ops 1 1 1 1 1 1 1 1 1 1 1 1 1
Trainers 1 1 1 1 1 1 1 1 1 1 1 1 1
QA 1 1 1 1 1 1 1 1 1 1 1 1 1
Marketing
Marketing Mgr 1 1 1 1 1 1 1 1 1 1 1 1 1
Acct Exec 0 0 0 1 1 1 1 1 1 1 1 1 1
Total Mkting 1 1 1 2 2 2 2 2 2 2 2 2 2
IT
Technicians 1 1 1 2 2 2 2 2 2 2 2 2 2
Total IT 1 1 1 2 2 2 2 2 2 2 2 2 2
Sales - Field Reps
City Manager 2 2 2 2 2 2 3 3 3 3 3 3 3
Support 0 0 0 1 1 1 1 1 1 1 1 1 1
Total Field Reps 2 2 2 3 3 3 4 4 4 4 4 4 4
TOTAL EMPLOYEES 19 19 19 25 25 25 26 26 27 27 27 27 27
New Employees 19 0 0 6 0 0 1 0 1 0 0 0 8
Revenue per employee $ 9,820 $ 11,930 $ 12,883 $ 10,833 $ 12,167 $ 13,390 $ 14,497 $ 15,740 $ 16,806 $ 18,839 $ 20,104 $ 21,787 $ 164,718
Staffing
Revenue 186,582 226,675 244,782 270,813 304,170 334,760 376,914 409,241 453,764 508,644 542,796 588,244 4,447,383
Company Stage 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
SALARY EXPENSE
Executive Avg. Sal
CEO $ 100,000 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 100,000
CFO $ 80,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
COO $ 80,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
CIO $ 80,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
CMO $ 80,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
Total Executive 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 420,000
Administrative
Admin Asst $ 35,000 2,917 2,917 2,917 2,917 2,917 2,917 2,917 2,917 2,917 2,917 2,917 2,917 35,000
Accounting $ 50,000 - - - 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 37,500
HR $ 45,000 - - - 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 33,750
Total Admin 2,917 2,917 2,917 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 106,250
Sales - Biz Dev
Director $ 50,000 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 50,000
Acct Execs $ 45,000 3,750 3,750 3,750 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 78,750
Total Sales - Biz Dev 7,917 7,917 7,917 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 128,750
Operations
Manager $ 60,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
Call Center $ 50,000 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 12,500 12,500 12,500 12,500 116,667
Cust Srvc $ 50,000 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 50,000
Field Ops $ 50,000 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 50,000
Trainers $ 50,000 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 50,000
QA $ 50,000 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 50,000
Total Operations 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 34,167 34,167 34,167 34,167 376,667
Marketing
Marketing Mgr $ 55,000 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 55,000
Acct Exec $ 45,000 - - - 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 33,750
Total Mkting 4,583 4,583 4,583 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 88,750
IT
Technicians $ 55,000 4,583 4,583 4,583 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 96,250
Total IT 4,583 4,583 4,583 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 96,250
Sales - Field Reps
City Manager $ 36,000 6,000 6,000 6,000 6,000 6,000 6,000 9,000 9,000 9,000 9,000 9,000 9,000 90,000
Support $ 25,000 - - - 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 18,750
Total Field Reps 6,000 6,000 6,000 8,083 8,083 8,083 11,083 11,083 11,083 11,083 11,083 11,083 108,750
Total Comp. - Employees 91,000 91,000 91,000 113,083 113,083 113,083 116,083 116,083 120,250 120,250 120,250 120,250 1,325,417
Staffing
Revenue 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 1,140,913 10,668,076
Company Stage 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
HEAD COUNT
Executive
CEO 1 1 1 1 1 1 1 1 1 1 1 1 1
CFO 1 1 1 1 1 1 1 1 1 1 1 1 1
COO 1 1 1 1 1 1 1 1 1 1 1 1 1
CIO 1 1 1 1 1 1 1 1 1 1 1 1 1
CMO 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Executive 5 5 5 5 5 5 5 5 5 5 5 5 5
Administrative
Admin Asst 1 2 2 2 2 2 2 2 2 2 2 2 2
Accounting 1 1 1 1 1 1 1 1 1 1 1 1 1
HR 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Admin 3 4 4 4 4 4 4 4 4 4 4 4 4
Sales - Biz Dev
Director 2 2 2 2 2 2 2 2 2 2 2 2 2
Acct Execs 3 3 3 3 3 3 3 3 4 4 4 4 4
Operations
Manager 2 2 2 2 2 2 2 2 2 2 2 2 2
Call Center 6 6 6 6 6 7 7 7 7 7 7 7 7
Cust Srvc 2 2 2 2 2 2 2 2 2 2 2 2 2
Field Ops 2 2 2 2 2 2 2 2 2 2 2 2 2
Trainers 2 2 2 2 2 2 2 2 2 2 2 2 2
QA 2 2 2 2 2 2 2 2 2 2 2 2 2
Marketing
Marketing Mgr 1 1 1 1 1 1 1 1 1 1 1 1 1
Acct Exec 1 2 2 2 2 2 2 2 2 2 2 2 2
Total Mkting 2 3 3 3 3 3 3 3 3 3 3 3 3
IT
Technicians 3 3 3 3 3 3 3 3 4 4 4 4 4
Total IT 3 3 3 3 3 3 3 3 4 4 4 4 4
Sales - Field Reps
City Manager 2 2 2 2 2 2 2 2 2 3 3 3 3
Support 1 2 2 2 2 2 2 2 2 2 2 2 2
Total Field Reps 3 4 4 4 4 4 4 4 4 5 5 5 5
TOTAL EMPLOYEES 37 40 40 40 40 41 41 41 43 44 44 44 44
New Employees 37 3 0 0 0 1 0 0 2 1 0 0 7
Staffing
Revenue 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 1,140,913 10,668,076
Company Stage 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
SALARY EXPENSE
Executive Avg. Sal
CEO $ 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000
CFO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
COO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CIO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CMO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
Total Executive 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 650,000
Administrative
Admin Asst $ 40,000 3,333 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 76,667
Accounting $ 60,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
HR $ 60,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
Total Admin 13,333 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 196,667
Sales - Biz Dev
Director $ 100,000 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 200,000
Acct Execs $ 65,000 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 21,667 21,667 21,667 21,667 216,667
Operations
Manager $ 85,000 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 170,000
Call Center $ 60,000 30,000 30,000 30,000 30,000 30,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 395,000
Cust Srvc $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Field Ops $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Trainers $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
QA $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Total Operations 84,167 84,167 84,167 84,167 84,167 89,167 89,167 89,167 89,167 89,167 89,167 89,167 1,045,000
Marketing
Marketing Mgr $ 75,000 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 75,000
Acct Exec $ 60,000 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 115,000
Total Mkting 11,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 190,000
IT
Technicians $ 75,000 18,750 18,750 18,750 18,750 18,750 18,750 18,750 18,750 25,000 25,000 25,000 25,000 250,000
Total IT 18,750 18,750 18,750 18,750 18,750 18,750 18,750 18,750 25,000 25,000 25,000 25,000 250,000
Sales - Field Reps
City Manager $ 55,000 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 9,167 13,750 13,750 13,750 123,750
Support $ 35,000 2,917 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 67,083
Total Field Reps 12,083 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 19,583 19,583 19,583 190,833
Staffing
Revenue 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 1,714,157 17,439,329
Company Stage 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
HEAD COUNT
Executive
CEO 1 1 1 1 1 1 1 1 1 1 1 1 1
CFO 1 1 1 1 1 1 1 1 1 1 1 1 1
COO 1 1 1 1 1 1 1 1 1 1 1 1 1
CIO 1 1 1 1 1 1 1 1 1 1 1 1 1
CMO 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Executive 5 5 5 5 5 5 5 5 5 5 5 5 5
Administrative
Admin Asst 2 2 2 2 2 2 2 2 2 2 2 2 2
Accounting 1 1 1 1 2 2 2 2 2 2 2 2 2
HR 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Admin 4 4 4 4 5 5 5 5 5 5 5 5 5
Sales - Biz Dev
Director 2 2 2 2 2 2 2 2 2 2 2 2 2
Acct Execs 4 4 4 4 4 4 4 4 4 4 4 4 4
Operations
Manager 2 2 2 2 2 2 2 2 2 2 2 2 2
Call Center 8 8 8 8 8 8 8 8 8 9 9 9 9
Cust Srvc 2 2 2 2 3 3 3 3 3 3 3 3 3
Field Ops 2 2 2 2 3 3 3 3 3 3 3 3 3
Trainers 2 2 2 2 3 3 3 3 3 3 3 3 3
QA 2 2 2 2 3 3 3 3 3 3 3 3 3
Marketing
Marketing Mgr 1 1 1 1 1 1 1 1 1 1 1 1 1
Acct Exec 2 2 2 2 2 2 2 2 2 2 2 2 2
Total Mkting 3 3 3 3 3 3 3 3 3 3 3 3 3
IT
Technicians 4 4 4 4 4 4 4 4 4 4 4 4 4
Total IT 4 4 4 4 4 4 4 4 4 4 4 4 4
Sales - Field Reps
City Manager 3 3 3 3 3 3 3 3 3 4 4 4 4
Support 2 2 2 2 2 2 2 2 2 2 2 2 2
Total Field Reps 5 5 5 5 5 5 5 5 5 6 6 6 6
TOTAL EMPLOYEES 45 45 45 45 50 50 50 50 50 52 52 52 52
New Employees 45 0 0 0 5 0 0 0 0 2 0 0 7
Staffing
Revenue 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 1,714,157 17,439,329
Company Stage 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
SALARY EXPENSE
Executive Avg. Sal
CEO $ 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000
CFO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
COO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CIO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CMO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
Total Executive 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 650,000
Administrative
Admin Asst $ 40,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
Accounting $ 60,000 5,000 5,000 5,000 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 100,000
HR $ 60,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
Total Admin 16,667 16,667 16,667 16,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 240,000
Sales - Biz Dev
Director $ 100,000 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 200,000
Acct Execs $ 65,000 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 260,000
Operations
Manager $ 85,000 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 170,000
Call Center $ 60,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 45,000 45,000 45,000 495,000
Cust Srvc $ 60,000 10,000 10,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 160,000
Field Ops $ 60,000 10,000 10,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 160,000
Trainers $ 60,000 10,000 10,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 160,000
QA $ 60,000 10,000 10,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 160,000
Marketing
Marketing Mgr $ 75,000 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 75,000
Acct Exec $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Total Mkting 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 195,000
IT
Technicians $ 75,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 300,000
Total IT 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
Sales - Field Reps
City Manager $ 55,000 13,750 13,750 13,750 13,750 13,750 13,750 13,750 13,750 13,750 18,333 18,333 18,333 178,750
Support $ 35,000 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 70,000
Total Field Reps 19,583 19,583 19,583 19,583 19,583 19,583 19,583 19,583 19,583 24,167 24,167 24,167 248,750
Staffing
Revenue 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 2,308,501 24,456,682
Company Stage 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
HEAD COUNT
Executive
CEO 1 1 1 1 1 1 1 1 1 1 1 1 1
CFO 1 1 1 1 1 1 1 1 1 1 1 1 1
COO 1 1 1 1 1 1 1 1 1 1 1 1 1
CIO 1 1 1 1 1 1 1 1 1 1 1 1 1
CMO 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Executive 5 5 5 5 5 5 5 5 5 5 5 5 5
Administrative
Admin Asst 2 2 2 2 2 2 2 2 2 2 2 2 2
Accounting 2 2 2 2 2 2 2 2 2 2 2 2 2
HR 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Admin 5 5 5 5 5 5 5 5 5 5 5 5 5
Sales - Biz Dev
Director 2 2 2 2 2 2 2 2 2 2 2 2 2
Acct Execs 4 4 5 5 5 5 5 5 5 5 5 5 5
Operations
Manager 2 2 2 2 2 2 2 2 2 2 2 2 2
Call Center 9 9 9 9 9 9 9 10 10 10 10 10 10
Cust Srvc 3 3 3 3 3 3 3 3 3 3 3 3 3
Field Ops 3 3 3 3 3 3 3 3 3 3 3 3 3
Trainers 3 3 3 3 3 3 3 3 3 3 3 3 3
QA 3 3 3 3 3 3 3 3 3 3 3 3 3
Marketing
Marketing Mgr 1 1 1 1 1 1 1 1 1 1 1 1 1
Acct Exec 2 2 2 2 2 2 2 2 2 2 2 2 2
Total Mkting 3 3 3 3 3 3 3 3 3 3 3 3 3
IT
Technicians 4 4 5 5 5 5 5 5 5 5 5 5 5
Total IT 4 4 5 5 5 5 5 5 5 5 5 5 5
Sales - Field Reps
City Manager 4 4 4 4 4 4 4 4 4 5 5 5 5
Support 2 2 2 2 2 2 2 2 2 2 2 2 2
Total Field Reps 6 6 6 6 6 6 6 6 6 7 7 7 7
TOTAL EMPLOYEES 52 52 54 54 54 54 54 55 55 56 56 56 56
New Employees 52 0 2 0 0 0 0 1 0 1 0 0 4
Staffing
Revenue 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 2,308,501 24,456,682
Company Stage 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
SALARY EXPENSE
Executive Avg. Sal
CEO $ 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000
CFO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
COO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CIO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
CMO $ 125,000 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 125,000
Total Executive 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 54,167 650,000
Administrative
Admin Asst $ 40,000 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 6,667 80,000
Accounting $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
HR $ 60,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
Total Admin 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 21,667 260,000
Sales - Biz Dev
Director $ 100,000 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 16,667 200,000
Acct Execs $ 65,000 21,667 21,667 27,083 27,083 27,083 27,083 27,083 27,083 27,083 27,083 27,083 27,083 314,167
Operations
Manager $ 85,000 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 14,167 170,000
Call Center $ 60,000 45,000 45,000 45,000 45,000 45,000 45,000 45,000 50,000 50,000 50,000 50,000 50,000 565,000
Cust Srvc $ 60,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 180,000
Field Ops $ 60,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 180,000
Trainers $ 60,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 180,000
QA $ 60,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 180,000
Marketing
Marketing Mgr $ 75,000 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 75,000
Acct Exec $ 60,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000
Total Mkting 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 16,250 195,000
IT
Technicians $ 75,000 25,000 25,000 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 362,500
Total IT 25,000 25,000 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 362,500
Sales - Field Reps
City Manager $ 55,000 18,333 18,333 18,333 18,333 18,333 18,333 18,333 18,333 18,333 22,917 22,917 22,917 233,750
Support $ 35,000 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 5,833 70,000
Total Field Reps 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 28,750 28,750 28,750 303,750
Transaction Calculator
1 2 3 4 5 6 7 8 9 10 11 12 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 - - - 150 263 460 805 1,409 2,615 3,098 3,720 4,554 17,072
Total Number of Subscribers - - - 150 413 872 1,677 3,086 5,701 8,798 12,518 17,072 17,072
New Markets - - 1 - - - - 1 - - - - 2
Total Number of Markets - - 1 1 1 1 1 2 2 2 2 2 2
New Companies - - 20 10 15 23 34 71 25 32 42 44 316

Total Number of Companies - - 20 30 45 68 102 173 198 230 272 316 316
Companies enrolled in Company Mkti - - - - - - - - - - - - -
No. of Trans. (trial) - - 200 350 613 1,073 1,878 3,487 4,130 4,960 6,072 6,877 29,640
No. of Trans.(subscriber) - - - 113 309 654 1,258 2,314 4,276 6,599 9,389 12,804 12,804
No. of Company Trans. (trial) - - 1,000 1,500 2,250 3,400 5,100 8,650 9,900 11,500 13,600 15,800 72,700
No. of Company Trans. (subscriber) - - 1,000 1,500 2,250 3,400 5,100 8,650 9,900 11,500 13,600 15,800 72,700
Trail Transactions (lower est.) - - 200 350 613 1,073 1,878 3,487 4,130 4,960 6,072 6,877 29,640
Subscriber Transactions (lower est.) - - - 113 309 654 1,258 2,314 4,276 6,599 9,389 12,804 37,715
Transaction per rest. - - 10 15 20 25 31 34 42 50 57 62 213

13 14 15 16 17 18 19 20 21 22 23 24 Totals
Number of trial users 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
New Subscribers 5,158 6,365 6,847 7,469 8,453 9,170 10,424 11,288 12,430 14,173 15,038 16,179 122,992
Total Number of Subscribers 22,230 28,595 35,441 42,873 51,261 60,315 70,538 81,474 93,250 106,648 120,755 135,796 135,796
New Markets 1 - - 1 - - 1 - - 1 - - 4
Total Number of Markets 3 3 3 4 4 4 5 5 5 6 6 6 6
New Companies 82 36 35 68 59 81 73 67 100 77 82 107 867

Total Number of Companies 398 434 469 537 596 677 750 817 917 994 1,076 1,183 1,183
Companies enrolled in Company Mkti 199 217 235 269 298 339 375 409 459 497 538 592 592
No. of Trans. (trial) 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
No. of Trans.(subscriber) 16,673 21,446 26,581 32,155 38,445 45,236 52,903 61,105 69,937 79,986 90,567 101,847 101,847
No. of Company Trans. (trial) 19,900 21,700 23,450 26,850 29,800 33,850 37,500 40,850 45,850 49,700 53,800 59,150 442,400
No. of Company Trans. (subscriber) 19,900 21,700 23,450 26,850 29,800 33,850 37,500 40,850 45,850 49,700 53,800 59,150 442,400
Trail Transactions (lower est.) 8,486 9,129 9,959 11,271 12,226 13,898 15,051 16,573 18,897 20,050 21,572 23,896 181,008
Subscriber Transactions (lower est.) 16,673 21,446 23,450 26,850 29,800 33,850 37,500 40,850 45,850 49,700 53,800 59,150 438,918
Transaction per rest. 63 70 71 71 71 71 70 70 71 70 70 70 524

25 26 27 28 29 30 31 32 33 34 35 36 Totals
New Subscribers 17,922 18,787 19,928 21,671 22,536 23,678 25,421 26,285 27,427 29,170 30,035 31,176 294,035
New Markets 1 - - 1 - - 1 - - 1 - - 4
New Companies 80 92 107 85 91 111 92 88 121 97 97 121 1,182

Total Number of Companies 1,263 1,355 1,462 1,547 1,638 1,749 1,841 1,929 2,050 2,147 2,244 2,365 2,365
Companies enrolled in Company Mkti 632 678 731 774 819 875 921 965 1,025 1,074 1,122 1,183 1,183
No. of Trans. (trial) 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
No. of Company Trans. (trial) 63,150 67,750 73,100 77,350 81,900 87,450 92,050 96,450 102,500 107,350 112,200 118,250 1,079,500
No. of Company Trans. (subscriber) 63,150 67,750 73,100 77,350 81,900 87,450 92,050 96,450 102,500 107,350 112,200 118,250 1,079,500
Subscriber Transactions (lower est.) 63,150 67,750 73,100 77,350 81,900 87,450 92,050 96,450 102,500 107,350 112,200 118,250 1,079,500

37 38 39 40 41 42 43 44 45 46 47 48 Totals
New Subscribers 32,919 33,784 34,925 36,668 37,533 38,675 40,418 41,282 42,424 44,167 45,032 46,173 473,999
New Markets 1 - - 1 - - 1 - - 1 - - 4
New Companies 95 107 122 100 105 123 105 103 135 112 110 130 1,347
Companies enrolled in Company Mkti 1,230 1,284 1,345 1,395 1,447 1,509 1,561 1,613 1,680 1,736 1,791 1,856 1,856
No. of Trans. (trial) 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

49 50 51 52 53 54 55 56 57 58 59 60 Totals
New Subscribers 47,916 48,781 49,922 51,665 52,530 53,672 55,415 56,279 57,421 59,164 60,029 61,170 653,963
Total Number of Subscribers 784,082 816,554 849,370 882,692 916,015 949,521 983,235 1,016,794 1,049,984 1,083,156 1,116,165 1,148,954 1,148,954
New Markets 1 - - 1 - - 1 - - 1 - - 4
New Companies 111 122 133 116 118 134 123 115 146 132 124 141 1,515
Companies enrolled in Company Mkti 1,912 1,973 2,039 2,097 2,156 2,223 2,285 2,342 2,415 2,481 2,543 2,614 2,614
No. of Trans. (trial) 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

LT Note
Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04
1 2 3 4 5 6 7 8 9 10 11 12 Totals
Debt added to dat 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
New debt 250,000.00 - - - - - - - - - - - 250,000.00
Beg Bal - 250,000.00 249,285.71 248,571.42 247,857.13 247,142.84 246,428.55 245,714.26 244,999.97 244,285.68 243,571.39 242,857.10 -
Payment - (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (35,357.19)
Interest - (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (27,500.00)
Principle - (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (7,857.19)
Ending Bal 250,000.00 249,285.71 248,571.42 247,857.13 247,142.84 246,428.55 245,714.26 244,999.97 244,285.68 243,571.39 242,857.10 242,142.81 242,142.81
Interest rate
12%
Term
years
10
months
120
LT Note
13 14 15 16 17 18 19 20 21 22 23 24 Totals
Debt added to dat 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
New debt - - - - - - - - - - - - -
Beg Bal 242,142.81 241,428.52 240,714.23 239,999.94 239,285.65 238,571.36 237,857.08 237,142.79 236,428.50 235,714.21 234,999.92 234,285.63 242,142.81
Payment (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (38,571.48)
Interest (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (30,000.00)
Principle (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (8,571.48)
Ending Bal 241,428.52 240,714.23 239,999.94 239,285.65 238,571.36 237,857.08 237,142.79 236,428.50 235,714.21 234,999.92 234,285.63 233,571.34 233,571.34
Interest rate
12%
Term
years
10
months
120
LT Note
25 26 27 28 29 30 31 32 33 34 35 36 Totals
Debt added to dat 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
New debt - - - - - - - - - - - - -
Beg Bal 233,571.34 232,857.05 232,142.76 231,428.47 230,714.18 229,999.89 229,285.60 228,571.31 227,857.02 227,142.73 226,428.44 225,714.15 233,571.34
Payment (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (38,571.48)
Interest (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (30,000.00)
Principle (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (8,571.48)
Ending Bal 232,857.05 232,142.76 231,428.47 230,714.18 229,999.89 229,285.60 228,571.31 227,857.02 227,142.73 226,428.44 225,714.15 224,999.86 224,999.86
Interest rate
12%
Term
years
10
months
120
LT Note
37 38 39 40 41 42 43 44 45 46 47 48 Totals
Debt added to dat 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
New debt - - - - - - - - - - - - -
Beg Bal 224,999.86 224,285.57 223,571.28 222,856.99 222,142.70 221,428.41 220,714.12 219,999.83 219,285.54 218,571.25 217,856.96 217,142.67 224,999.86
Payment (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (38,571.48)
Interest (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (30,000.00)
Principle (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (8,571.48)
Ending Bal 224,285.57 223,571.28 222,856.99 222,142.70 221,428.41 220,714.12 219,999.83 219,285.54 218,571.25 217,856.96 217,142.67 216,428.38 216,428.38
Interest rate
12%
Term
years
10
months
120
LT Note
49 50 51 52 53 54 55 56 57 58 59 60 Totals
Debt added to dat 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
New debt - - - - - - - - - - - - -
Beg Bal 216,428.38 215,714.09 214,999.80 214,285.51 213,571.23 212,856.94 212,142.65 211,428.36 210,714.07 209,999.78 209,285.49 208,571.20 216,428.38
Payment (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (3,214.29) (38,571.48)
Interest (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (2,500.00) (30,000.00)
Principle (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (714.29) (8,571.48)
Ending Bal 215,714.09 214,999.80 214,285.51 213,571.23 212,856.94 212,142.65 211,428.36 210,714.07 209,999.78 209,285.49 208,571.20 207,856.91 207,856.91
Interest rate
12%
Term
years
10
months
120
Capitalization Table
Exit Scenarios
Idea FF Angel VC - A IPO Year 3 Year 4 Year 5
EBITDA 2,256,011 6,157,476 10,398,011

5X 5 11,280,055 30,787,382 51,990,057
pre money $ - $ 750,000 75.0% $ 2,000,000 80.0% $5,000,000 71.4% $ 75,000,000 69.4%
investment $ - $ 250,000 25.0% $ 500,000 20.0% $2,000,000 28.6% $ 33,000,000 30.6%
post money $ - $1,000,000 100.0% $ 2,500,000 100.0% $7,000,000 100.0% $108,000,000 100.0%
Share price 0 $ 0.17 $ 0.33 $ 0.67 $ 7.14 $ 1.07 $ 2.93 $ 4.95
Authorized Shares
Common 10,000,000 10,000,000 10,000,000 20,000,000 50,000,000
Shares owned
CEO 1,000,000 40.0% 1,000,000 16.7% 1,000,000 13.3% 1,000,000 9.5% 1,000,000 6.6% 1,000,000 9.5% 1,000,000 9.5% 1,000,000 9.5%
CFO 750,000 30.0% 750,000 12.5% 750,000 10.0% 750,000 7.1% 750,000 5.0% 750,000 7.1% 750,000 7.1% 750,000 7.1%
COO 750,000 30.0% 750,000 12.5% 750,000 10.0% 750,000 7.1% 750,000 5.0% 750,000 7.1% 750,000 7.1% 750,000 7.1%
CIO - 0.0% 500,000 8.3% 500,000 6.7% 500,000 4.8% 500,000 3.3% 500,000 4.8% 500,000 4.8% 500,000 4.8%
CMO - 0.0% 500,000 8.3% 500,000 6.7% 500,000 4.8% 500,000 3.3% 500,000 4.8% 500,000 4.8% 500,000 4.8%
Director of Biz Dev - 0.0% 100,000 1.7% 100,000 1.3% 100,000 1.0% 100,000 0.7% 100,000 1.0% 100,000 1.0% 100,000 1.0%
Director of Ops - 0.0% 100,000 1.7% 100,000 1.3% 100,000 1.0% 100,000 0.7% 100,000 1.0% 100,000 1.0% 100,000 1.0%
Director of Marketin - 0.0% 100,000 1.7% 100,000 1.3% 100,000 1.0% 100,000 0.7% 100,000 1.0% 100,000 1.0% 100,000 1.0%
Employee 8 0.0% 50,000 0.8% 50,000 0.7% 50,000 0.5% 50,000 0.3% 50,000 0.5% 50,000 0.5% 50,000 0.5%
Other employees - 0.0% 150,000 2.5% 150,000 2.0% 150,000 1.4% 150,000 1.0% 150,000 1.4% 150,000 1.4% 150,000 1.4%
Option plan 0.0% 500,000 8.3% 500,000 6.7% 500,000 4.8% 500,000 3.3% 500,000 4.8% 500,000 4.8% 500,000 4.8%
FF - 0.0% 1,500,000 25.0% 1,500,000 20.0% 1,500,000 14.3% 1,500,000 9.9% 1,500,000 14.3% 1,500,000 14.3% 1,500,000 14.3%
Angel - 0.0% - 0.0% 1,500,000 20.0% 1,500,000 14.3% 1,500,000 9.9% 1,500,000 14.3% 1,500,000 14.3% 1,500,000 14.3%
VC - A - 0.0% - 0.0% - 0.0% 3,000,000 28.6% 3,000,000 19.8% 3,000,000 28.6% 3,000,000 28.6% 3,000,000 28.6%
VC - B - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0%
IPO - 0.0% - 0.0% - 0.0% - 0.0% 4,620,000 30.6% - 0.0% - 0.0% - 0.0%
Total 2,500,000 100.0% 6,000,000 100.0% 7,500,000 100.0% 10,500,000 100.0% 15,120,000 100.0% 10,500,000 ### 10,500,000 ### 10,500,000 ###
Value of holdings
CEO $ - $ 166,667 $ 333,333 $ 666,667 $ 7,142,857 $1,074,291 $ 2,932,132 $ 4,951,434
CFO $ - $ 125,000 $ 250,000 $ 500,000 $ 5,357,143 $ 805,718 $ 2,199,099 $ 3,713,576
COO $ - $ 125,000 $ 250,000 $ 500,000 $ 5,357,143 $ 805,718 $ 2,199,099 $ 3,713,576
CIO $ - $ 83,333 $ 166,667 $ 333,333 $ 3,571,429 $ 537,145 $ 1,466,066 $ 2,475,717
CMO $ - $ 83,333 $ 166,667 $ 333,333 $ 3,571,429 $ 537,145 $ 1,466,066 $ 2,475,717
Director of Biz Dev $ - $ 16,667 $ 33,333 $ 66,667 $ 714,286 $ 107,429 $ 293,213 $ 495,143
Director of Ops $ - $ 16,667 $ 33,333 $ 66,667 $ 714,286 $ 107,429 $ 293,213 $ 495,143
Director of Marketin $ - $ 16,667 $ 33,333 $ 66,667 $ 714,286 $ 107,429 $ 293,213 $ 495,143
Employee 8 $ - $ 8,333 $ 16,667 $ 33,333 $ 357,143 $ 53,715 $ 146,607 $ 247,572
Other employees $ - $ 25,000 $ 50,000 $ 100,000 $ 1,071,429 $ 161,144 $ 439,820 $ 742,715
Option plan $ - $ 83,333 $ 166,667 $ 333,333 $ 3,571,429 $ 537,145 $ 1,466,066 $ 2,475,717
FF $ - $ 250,000 $ 500,000 $1,000,000 $ 10,714,286 $1,611,436 $ 4,398,197 $ 7,427,151
Angel $ - $ - $ 500,000 $1,000,000 $ 10,714,286 $1,611,436 $ 4,398,197 $ 7,427,151
VC - A $ - $ - $ - $2,000,000 $ 21,428,571 $3,222,873 $ 8,796,395 $14,854,302
VC - B $ - $ - $ - $ - $ - $ - $ - $ -
IPO $ - $ - $ - $ - $ 33,000,000 $ - $ - $ -
Total Capitalization $ - $1,000,000 $ 2,500,000 $7,000,000 $108,000,000 ### $30,787,382 $51,990,057
Development
Company Stage Pre Launch Pre Launch Pre Launch Pre Launch Pre Launch Pre Launch 1.0 1.0 1.0 1.0 1.0 1.0
Est. Project Dev. Start of End of

Development Costs Cost time Devel. Devel.
Launch 1 2 3 4 5 6 7 8 9 10 11 12 Year 1
Website & Voice App 200,000 6 1 6 7 33,333 33,333 33,333 33,333 33,333 33,333 - - - - - - 200,000
Version 2.0 Development 450,000 6 7 12 13 - - - - - - 75,000 75,000 75,000 75,000 75,000 75,000 450,000
Version 3.0 Development 500,000 12 13 24 25 - - - - - - - - - - - - -
Total Development Costs 1,150,000 33,333 33,333 33,333 33,333 33,333 33,333 75,000 75,000 75,000 75,000 75,000 75,000 650,000
Website and Voice App development

Version 1.0 200,000 ENTER AMOUNT HERE

Development
Company Stage 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0

Launch 13 14 15 16 17 18 19 20 21 22 23 24 Year 2
Website & Voice App 200,000 6 1 6 7 - - - - - - - - - - - - -

Version 3.0 Development 500,000 12 13 24 25 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 500,000
Total Development Costs 1,150,000 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 500,000


Development
Company Stage 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0

Launch 25 26 27 28 29 30 31 32 33 34 35 36 Year 3

Total Development Costs 1,150,000 - - - - - - - - - - - - -


Development
Company Stage 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0

Launch 37 38 39 40 41 42 43 44 45 46 47 48 Year 4



Development
Company Stage 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0

Launch 49 50 51 52 53 54 55 56 57 58 59 60 Year 5



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Yet another Extremely Valuable Entrepreneurial Resource

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Selected Financial Highlights

Total team members 9 27 44 52 56

Ending cash $ 65,273 $ 1,544,694 $ 2,098,675 $ 4,749,390 $ 9,888,365

Year 1 Year 2 Year 3 Year 4 Year 5 5 year total

"Toggle" assumptions - Adjust these assumptions to make changes in the Model

Accounts Receivable (% of previous mo's rev) 150% Make adjustments here

Market Calculator (see the calculator tab) 3 Start month

Company Calculator (see the calculator tab) 20 # of companies (1st mo)

Assumptions 2004 2005 2006 2007 2008

Cost of Goods Sold 2004 2005 2006 2007 2008

EXPENSES 2004 2005 2006 2007 2008

Basic ratios and rates

Revenue per certificate (transaction) 1.5

Balance Sheet Assumptions

Cost of Goods Sold

Cash Flow from Investing

Cash Flow from Financing

Cost of Goods Sold

Cash Flow from Investing

Cash Flow from Financing

Cost of Goods Sold

Cash Flow from Investing

Cash Flow from Financing

Cost of Goods Sold

Cash Flow from Investing

Cash Flow from Financing

Cost of Goods Sold

Cash Flow from Investing

Cash Flow from Financing

New Companies - - 20 10 15 23 34 71 25 32 42 44 316

Companies enrolled in Company Mkti - - - - - - - - - - - - -

Transaction per rest. - - 10 15 20 25 31 34 42 50 57 62 213

New Companies 82 36 35 68 59 81 73 67 100 77 82 107 867

Transaction per rest. 63 70 71 71 71 71 70 70 71 70 70 70 524

New Companies 80 92 107 85 91 111 92 88 121 97 97 121 1,182

Transaction per rest. 70 70 70 69 69 69 69 69 69 69 69 69 631

Transaction per rest. 68 68 68 68 68 68 68 68 68 67 67 67 673

Transaction per rest. 67 67 67 67 67 67 66 66 66 66 66 66 689

EBITDA 2,256,011 6,157,476 10,398,011

Est. Project Dev. Start of End of

Website and Voice App development

Version 2.0 450,000 ENTER AMOUNT HERE

Version 3.0 500,000 ENTER AMOUNT HERE

Est. Project Dev. Start of End of

Website & Voice App 200,000 6 1 6 7 - - - - - - - - - - - - -

Website and Voice App development

Version 2.0 450,000 ENTER AMOUNT HERE

Version 3.0 500,000 ENTER AMOUNT HERE

Est. Project Dev. Start of End of

Website & Voice App 200,000 6 1 6 7 - - - - - - - - - - - - -

Website and Voice App development

Version 2.0 450,000 ENTER AMOUNT HERE

Version 3.0 500,000 ENTER AMOUNT HERE

Est. Project Dev. Start of End of

Website & Voice App 200,000 6 1 6 7 - - - - - - - - - - - - -

Website and Voice App development

Version 2.0 450,000 ENTER AMOUNT HERE