Echo_Energy-Promised_Land by gegeshandong

VIEWS: 3 PAGES: 14

									                                                                                         Echo Energy
                                                                                  Converting Waste to Energy
                                                                                POWER PROJECT--60MW
                                                                   FINANCIAL FORECAST - STATEMENTS OF OPERATIONS
                                                                               YEAR 1 THROUGH YEAR 5

                                                        PHASE 1 (Mos 0-14):               PHASE 2 (Mos 14-24):               YEAR 3:                  YEAR 4:                  YEAR 5:
                                                        Project Development                Project Development              Operations               Operations               Operations
                                                     (Engineering, Permitting &          (Construction & Start-up)
                                                       Equipment Fabrication)
OPERATING REVENUES
  Tip Fee Revenues from Tire and Other Inputs:
    Municipal Solid Waste                        $                       375,000     $                     7,593,750    $          8,250,000     $          8,415,000     $          8,583,300
    Tires                                                                990,000                           1,200,000               2,520,000                2,160,000                1,800,000
    Other                                                                    -                                   -                   540,000                  540,000                  540,000
                                                                       1,365,000                           8,793,750              11,310,000               11,115,000               10,923,300

  Production Revenues:
    Oil                                                                      -                                   -                       -                        -                        -
    Char                                                                     -                                   -                       -                        -                        -
    Steel                                                                    -                               990,000               2,430,000                2,430,000                2,478,600
    Electricity                                                              -                            48,721,500              70,956,000               72,375,120               73,822,622
                                                                             -                            49,711,500              73,386,000               74,805,120               76,301,222

       Total Operating Revenues                                        1,365,000                          58,505,250              84,696,000               85,920,120               87,224,522


COSTS AND EXPENSES
  Shipping and Logistics:
    Trucking in                                                              -                                31,667               2,737,500                2,792,250                2,848,095
                                                                             -                                31,667               2,737,500                2,792,250                2,848,095
  Payroll:
    Foreman (4)                                                              -                               529,250                 301,600                  307,632                  313,785
    Operator (16)                                                         52,200                           1,967,360                 965,120                  984,422                1,004,111
    Laborer (8)                                                              -                               508,080                 361,920                  369,158                  376,542
    Mechanic (1)                                                           4,350                              88,088                  75,400                   76,908                   78,446
    Electrician (1)                                                          -                                35,283                  75,400                   76,908                   78,446
    Plant Manager (1)                                                     11,310                             229,028                 196,040                  199,961                  203,960
    Clerk (1)                                                              3,480                              70,470                  60,320                   61,526                   62,757
    Engineer (1)                                                             -                               105,850                  60,320                   61,526                   62,757
    Technician (1)                                                           -                                44,104                  60,320                   61,526                   62,757
                                                                          71,340                           3,577,513               2,156,440                2,199,569                2,243,560

  Lease Costs - Plant Equipment                                              -                                   -                        -                        -                        -

  Indirect Overhead                                                      150,000                            166,667                  200,000                  204,000                  208,080

  Port Lease and Cargo Fees
    Port Lease and Cargo Fees -                                          168,469                           1,684,692               2,421,630                2,520,023                2,669,688
    Port Lease and Cargo Fees -                                              -                                   -                       -                    540,000                  550,800
                                                                         168,469                           1,684,692               2,421,630                3,060,023                3,220,488

  Repairs and Maintenance                                                100,000                           1,000,000               1,200,000                1,200,000                1,200,000

  Product Testing                                                            -                              110,000                  100,000                  102,000                  104,040

  General and Administrative                                           3,150,000                           2,250,000               7,710,000                8,021,080                8,344,728

  Professional Fees                                                       75,000                              83,333                 100,000                  102,000                  104,040

  Insurance                                                            2,333,333                           1,666,667               2,040,000                2,080,800                2,122,416

     Total Costs and Expenses                                          6,048,143                          10,570,538              18,665,570               19,761,721               20,395,447

INCOME FROM OPERATIONS                           $                    (4,683,143)    $                    47,934,713    $         66,030,430     $         66,158,399     $         66,829,075

OTHER EXPENSE
  Interest expense                                                    (5,905,813)                         (7,210,000)              (9,019,500)              (8,074,962)              (7,083,196)
  Depreciation                                                               -                                   -                    (21,760)                 (21,760)                 (21,760)

     Total Other Expense                                              (5,905,813)                         (7,210,000)              (9,041,260)              (8,096,722)              (7,104,956)
NET INCOME (90% capacity factor)                 $                   (10,588,955)    $                    40,724,713    $         56,989,170     $         58,061,677     $         59,724,119
Echo Energy Group
Converting Waste to Energy
POWER PROJECT--60MW
Sources and Uses of Funds                                   Year 1                                                       Year 2
Forecast for the First 24 Months   Quarter        Quarter            Quarter       Quarter        Quarter      Quarter            Quarter    Quarter        Year 3        Year 4        Year 5
                                     1              2                  3             4              1            2                  3          4

  NET CASH FLOW
    Within time period             ($1,175,000)   ($1,200,000)        ($860,000)     ($890,000)   $3,413,042   $8,666,358     $16,858,718    $15,938,453
    Annual                                                                         ($4,125,000)                                              $44,876,570   $38,020,162   $38,375,403   $39,292,121

  IRR (from start of Project)       #NUM!          #NUM!             #NUM!         #NUM!                 -7%         36%               58%         988%         1067%         1073%         1074%
     Echo Energy Group
     Converting Waste to Energy
     POWER PROJECT--60MW                                                                                                                                                                                                                                                                                  <--- Phase 1
     Sources and Uses of Funds
     Forecast for the First 24 Months                                                Month            Month           Month           Month            Month            Month           Month            Month           Month            Month           Month           Month           Month             Month
                                                                                      1                2               3               4                5                6               7                8               9                10              11              12              13                14
         SOURCES OF FUNDS:
           Tip Fee Revenues - Municipal Solid Waste                              $          -     $           -   $           -   $           -    $           -    $           -   $         -      $         -     $         -      $         -     $         -     $         -     $         -     $        375,000
           Tip Fee Revenues -                                                               -                 -               -               -                -                -         135,000          135,000         120,000          120,000         120,000         120,000         120,000            120,000
           Tip Fee revenues - Other                                                         -                 -               -               -                -                -             -                -               -                -               -               -               -                  -
           Production Revenues - Oil                                                        -                 -               -               -                -                -             -                -               -                -               -               -               -                  -
           Production Revenues - Char                                                       -                 -               -               -                -                -             -                -               -                -               -               -               -                  -
           Production Revenues - Steel                                                      -                 -               -               -                -                -             -                -               -                -               -               -               -               90,000
           Production Revenues - Electricity                                                -                 -               -               -                -                -             -                -               -                -               -               -               -            1,458,000
           Equity                                                                           -
           Borrowed Funds                                               <1>          43,050,000        420,000          420,000       11,025,000       33,810,000       1,785,000       21,000,000       3,675,000       14,280,000       2,520,000       2,415,000       8,820,000         210,000            210,000
                 Total Sources of Funds                                              43,050,000        420,000          420,000       11,025,000       33,810,000       1,785,000       21,135,000       3,810,000       14,400,000       2,640,000       2,535,000       8,940,000         330,000          2,253,000

         USES OF FUNDS:
           Capital Ependitures - Plant and Equipment                    <1>      $   29,572,741   $    396,437    $     374,437   $ 10,422,057     $   32,120,149   $   1,698,549   $   19,944,205   $   3,422,205   $   13,586,205   $   2,377,205   $   2,283,705   $   8,311,705   $     144,205   $        144,205
           Lease Expenditures - Plant and Equipment                              $          -     $        -      $         -     $        -       $          -     $         -     $          -     $         -     $          -     $         -     $         -     $         -     $         -     $            -
           Interest payments on borrowings                              <1>             179,375        181,125          182,875        228,813            369,688         377,125          464,625         479,938          539,438         549,938         560,000         596,750         597,625            598,500
           Amortization of borrowings                                   <1>                 -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Shipping and Logistics - Container Shipments to                                  -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Shipping and Logistics - Trucking in                                             -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Payroll - Foreman                                                                -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Payroll - Operator                                                               -              -                -              -                  -               -                -               -                -               -               -               -               -               52,200
           Payroll - Laborer                                                                -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Payroll - Mechanic                                                               -              -                -              -                  -               -                -               -                -               -               -               -               -                4,350
           Payroll - Electrician                                                            -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Payroll - Plant Manager                                                          -              -                -              -                  -               -                -               -                -               -               -               -               -               11,310
           Payroll - Clerk                                                                  -              -                -              -                  -               -                -               -                -               -               -               -               -                3,480
           Payroll - Engineer                                                               -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Payroll - Technician                                                             -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Indirect Overhead                                                                -              -                -              -                  -            16,667           16,667          16,667           16,667          16,667          16,667          16,667          16,667             16,667
           Port Lease and Cargo Fees -                                                      -              -                -              -                  -               -                -               -                -               -               -               -               -              168,469
           Port Lease and Cargo Fees                                                        -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           Repairs and Maintenance                                                          -              -                -              -                  -               -                -               -                -               -               -               -               -              100,000
           Product Testing                                                                  -              -                -              -                  -               -                -               -                -               -               -               -               -                  -
           General and Administrative                                                   225,000        225,000          225,000        225,000            225,000         225,000          225,000         225,000          225,000         225,000         225,000         225,000         225,000            225,000
           Professional/Financing Fees                                                2,152,500         21,000           21,000        551,250          1,690,500          97,583        1,058,333         192,083          722,333         134,333         129,083         449,333          18,833             18,833
           Insurance                                                                    166,667        166,667          166,667        166,667            166,667         166,667          166,667         166,667          166,667         166,667         166,667         166,667         166,667            166,667

                 Total Costs and Expenses                                        $   32,296,283   $    990,229    $     969,979   $ 11,593,786     $   34,572,003   $   2,581,590   $   21,875,496   $   4,502,559   $   15,256,309   $   3,469,809   $   3,381,121   $   9,766,121   $   1,168,996   $      1,509,680
         SOURCES LESS USES - MONTHLY                                             $   10,753,717   $    (570,229) $     (549,979) $      (568,786) $      (762,003) $     (796,590) $      (740,496) $     (692,559) $      (856,309) $     (829,809) $     (846,121) $     (826,121) $     (838,996) $         743,320

         SOURCES LESS USES - CUMULATIVE                                          $   10,753,717   $ 10,183,488    $   9,633,510   $    9,064,723   $    8,302,720   $   7,506,130   $    6,765,634   $   6,073,075   $    5,216,767   $   4,386,958   $   3,540,837   $   2,714,716   $   1,875,720   $      2,619,039

                                   NOTES:
<1> This model assumes the Company finances the purchase of plant and
    equipment via a construction loan. The terms of the construction loan have
    been projected to be an interest only loan during the construction phase
    (24 months) bearing interest at 7.5%. Upon completion of the
    construction phase, the loan will begin principal and interest payments
    over a 15 year term. This model assumes that borrowings will occur in the
    month needed to fund the purchase of the plant and equipment.
     Echo Energy Group
     Converting Waste to Energy
     POWER PROJECT--60MW                                                             Phase 2 --->
     Sources and Uses of Funds
     Forecast for the First 24 Months                                                  Month            Month           Month             Month           Month           Month           Month           Month           Month            Month              Total
                                                                                        15               16              17                18              19              20              21              22              23               24              24 Months
         SOURCES OF FUNDS:
           Tip Fee Revenues - Municipal Solid Waste                              $        750,000   $     760,417   $       760,417   $     760,417   $     760,417   $     760,417   $     760,417   $     760,417   $      760,417   $      760,417   $      7,968,750
           Tip Fee Revenues -                                                             120,000         120,000           120,000         120,000         120,000         120,000         120,000         120,000          120,000          120,000          2,190,000
           Tip Fee revenues - Other                                                           -               -                 -               -               -               -               -               -                -                -                  -
           Production Revenues - Oil                                                          -               -                 -               -               -               -               -               -                -                -                  -
           Production Revenues - Char                                                         -               -                 -               -               -               -               -               -                -                -                  -
           Production Revenues - Steel                                                     90,000          90,000            90,000          90,000          90,000          90,000          90,000          90,000           90,000           90,000            990,000
           Production Revenues - Electricity                                            2,916,000       2,956,500         2,956,500       2,956,500       5,913,000       5,913,000       5,913,000       5,913,000        5,913,000        5,913,000         48,721,500
           Equity                                                                                                                                                                                                                                                    -
           Borrowed Funds                                               <1>                                              36,750,000                                                                                                                          180,390,000
                 Total Sources of Funds                                                 3,876,000       3,926,917        40,676,917       3,926,917       6,883,417       6,883,417       6,883,417       6,883,417        6,883,417        6,883,417        240,260,250
                                                                                                                        180,390,000
         USES OF FUNDS:
           Capital Ependitures - Plant and Equipment                    <1>      $        144,205   $   1,601,705   $    40,882,705   $   8,218,205   $   3,279,205   $   1,546,705   $    133,205    $   2,113,205   $   11,578,705   $     133,205         194,429,051
           Lease Expenditures - Plant and Equipment                              $            -     $         -     $           -     $         -     $         -     $         -     $        -      $         -     $          -     $         -                   -
           Interest payments on borrowings                              <1>               598,500         598,500           751,625         751,625         751,625         751,625        751,625          751,625          751,625         751,625          13,115,813
           Amortization of borrowings                                   <1>                   -               -                 -               -               -               -              -                -                -               -                   -
           Shipping and Logistics - Container Shipments to                                    -               -                 -               -               -               -              -                -                -               -                   -
           Shipping and Logistics - Trucking in                                               -               -                 -               -               -               -            7,917            7,917            7,917           7,917              31,667
           Payroll - Foreman                                                                  -               -                 -               -               -           105,850        105,850          105,850          105,850         105,850             529,250
           Payroll - Operator                                                             104,400         105,850           105,850         105,850         105,850          84,680        338,720          338,720          338,720         338,720           2,019,560
           Payroll - Laborer                                                                  -               -                 -               -               -               -          127,020          127,020          127,020         127,020             508,080
           Payroll - Mechanic                                                               8,700           8,821             8,821           8,821           8,821           8,821          8,821            8,821            8,821           8,821              92,438
           Payroll - Electrician                                                              -               -                 -               -               -               -            8,821            8,821            8,821           8,821              35,283
           Payroll - Plant Manager                                                         22,620          22,934            22,934          22,934          22,934          22,934         22,934           22,934           22,934          22,934             240,338
           Payroll - Clerk                                                                  6,960           7,057             7,057           7,057           7,057           7,057          7,057            7,057            7,057           7,057              73,950
           Payroll - Engineer                                                                 -               -                 -               -               -            21,170         21,170           21,170           21,170          21,170             105,850
           Payroll - Technician                                                               -               -                 -               -               -             8,821          8,821            8,821            8,821           8,821              44,104
           Indirect Overhead                                                               16,667          16,667            16,667          16,667          16,667          16,667         16,667           16,667           16,667          16,667             316,667
           Port Lease and Cargo Fees -                                                    168,469         168,469           168,469         168,469         168,469         168,469        168,469          168,469          168,469         168,469           1,853,161
           Port Lease and Cargo Fees                                                          -               -                 -               -               -               -              -                -                -               -                   -
           Repairs and Maintenance                                                        100,000         100,000           100,000         100,000         100,000         100,000        100,000          100,000          100,000         100,000           1,100,000
           Product Testing                                                                    -               -                 -               -               -               -           50,000           20,000           20,000          20,000             110,000
           General and Administrative                                                     225,000         225,000           225,000         225,000         225,000         225,000        225,000          225,000          225,000         225,000           5,400,000
           Professional/Financing Fees                                                      8,333           8,333         1,845,833           8,333           8,333           8,333          8,333            8,333            8,333           8,333           9,177,833
           Insurance                                                                      166,667         166,667           166,667         166,667         166,667         166,667        166,667          166,667          166,667         166,667           4,000,000

                 Total Costs and Expenses                                        $      1,570,520   $   3,030,002   $    44,301,627   $   9,799,627   $   4,860,627   $   3,242,798   $   2,277,095   $   4,227,095   $   13,692,595   $    2,247,095   $    233,183,043
         SOURCES LESS USES - MONTHLY                                             $      2,305,480   $     896,915   $    (3,624,710) $    (5,872,710) $   2,022,790   $   3,640,619   $   4,606,321   $   2,656,321   $   (6,809,179) $     4,636,321   $      7,077,207

         SOURCES LESS USES - CUMULATIVE                                          $      4,924,519   $   5,821,434   $     2,196,723   $   (3,675,987) $   (1,653,197) $   1,987,421   $   6,593,743   $   9,250,064   $    2,440,885   $    7,077,207

                                   NOTES:
<1> This model assumes the Company finances the purchase of plant and
    equipment via a construction loan. The terms of the construction loan have
    been projected to be an interest only loan during the construction phase
    (24 months) bearing interest at 7.5%. Upon completion of the
    construction phase, the loan will begin principal and interest payments
    over a 15 year term. This model assumes that borrowings will occur in the
    month needed to fund the purchase of the plant and equipment.
                           Proprietary & Confidential

                           Echo Energy Group                                                                     Phases                 Year                  Year            Year            Year            Year            Year            Year            Year

                           Converting Waste to Energy                                                            D1 & D2                  3                       4            5               6               7               8               9               10

                           Caribean 60 MW                                                                   Project Development   At Full Production
                                                                                            July 16, 2010

                                                      Summary of Pro Forma

                                                  Caribean Waste Tire Project
                           Plant Capital Investment (devel, purchase, install & upgrades)                      $195,642,652              $0                       $0           $0              $0              $0              $0              $0              $0

                           Operating and Related Costs                                                        ($19,118,680)        ($18,665,570)          ($19,534,449)   ($19,922,134)   ($20,319,274)   ($20,725,961)   ($15,622,092)   ($15,938,385)   ($16,262,967)

                           Operating Revenues
                               Tires per Year                                                                   5,400,000            8,100,000              8,100,000      8,100,000       8,100,000       8,100,000       8,100,000       8,100,000       8,100,000
                               Tire Tip Fee ($/yr)                                                              $2,160,000          $2,520,000             $2,160,000     $1,800,000      $1,440,000       $1,440,000      $1,440,000     $1,440,000      $1,440,000
                               Tons MSW per Year                                                                 318,750              330,000                330,000        330,000         330,000         330,000         330,000         330,000         330,000
                               MSW Tip Fee ($/ton)                                                                 $25                  $25                    $26            $26             $27             $27             $28             $28             $29
                               kWh per year                                                                    324,810,000          473,040,000            473,040,000    473,040,000     473,040,000     473,040,000     473,040,000     473,040,000     473,040,000
                               Electricity Generation Revenues per Year                                        $48,721,500          $70,956,000            $72,375,120    $73,822,622     $75,299,075     $76,805,056     $78,341,157     $79,907,981     $81,506,140
                               Gross Product Sales ($/yr)                                                      $49,711,500          $73,386,000            $74,805,120    $76,301,222     $77,827,247     $79,383,792     $80,971,468     $82,590,897     $84,242,715

                           Capitalization Loan to support Operations                                                $0                   $0                       $0           $0              $0              $0              $0              $0              $0

                           Total Revenues (Tip Fee & Sales & Capitalization)                                   $59,840,250          $84,696,000            $85,920,120    $87,224,522     $88,562,213     $90,293,857     $92,060,134     $93,861,737     $95,699,372

                           Net Cash Flow (Operating Income)                                                    $40,721,570          $66,030,430           $66,385,671     $67,302,389     $68,242,938     $69,567,896     $76,438,042     $77,923,352     $79,436,405

                           Adjustments to Income
                              Project Loan Payments & Plant Investment from Income                            ($13,115,813)        ($27,910,268)          ($27,910,268)   ($27,910,268)   ($27,910,268)   ($27,910,268)   ($27,910,268)   ($27,910,268)   ($26,581,208)
                              Depreciation (20yr straight line)                                                    $0                 $21,760                $21,760         $21,760         $21,760         $21,760        $21,760         $21,760         $21,760
                              Tax and Other Incentives (TBD)                                                       $0                   $0                     $0              $0              $0              $0              $0              $0              $0
                              To Operating Reserve Fund                                                            $0                ($100,000)             ($100,000)      ($100,000)      ($100,000)      ($100,000)         $0              $0              $0

                           Net Income for Distribution                                                         $27,605,758          $38,020,162           $38,375,403     $39,292,121     $40,232,670     $41,557,628     $48,527,774     $50,013,084     $52,855,197



                           Capital Requirements
                               Power Project                                                                  $180,390,000




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                       Printdate: 10/27/2011
Tab: (S) Proforma Summary                                                                                                                          Page 5 of 14                                                                                                                 Time: 10:08 PM
   Proprietary & Confidential

   Echo Energy Group                                                                    Year            Year            Year            Year               Year            Year            Year            Year            Year            Year            Year                  Year

   Converting Waste to Energy                                                            11              12              13              14                 15              16              17              18              19              20              21                    22

   Caribean 60 MW
                                                                    July 16, 2010

                            Summary of Pro Forma

                          Caribean Waste Tire Project
   Plant Capital Investment (devel, purchase, install & upgrades)                        $0              $0              $0              $0                 $0              $0              $0              $0              $0              $0              $0                    $0

   Operating and Related Costs                                                      ($16,596,142)   ($16,938,229)   ($17,289,562)   ($17,650,497)      ($18,021,404)   ($18,402,676)   ($18,794,726)   ($19,197,991)   ($19,612,932)   ($20,040,034)   ($20,479,810)         ($20,932,805)

   Operating Revenues
      Tires per Year                                                                 8,100,000       8,100,000       8,100,000       8,100,000          8,100,000       8,100,000       8,100,000       8,100,000        8,100,000       8,100,000       8,100,000             8,100,000
      Tire Tip Fee ($/yr)                                                            $1,440,000     $1,440,000      $1,440,000      $1,440,000         $1,440,000      $1,440,000      $1,440,000      $1,440,000       $1,440,000      $1,440,000      $1,440,000            $1,440,000
      Tons MSW per Year                                                               330,000         330,000         330,000         330,000            330,000         330,000         330,000         330,000          330,000         330,000         330,000               330,000
      MSW Tip Fee ($/ton)                                                               $29             $30             $30             $31                $32             $32             $33             $34              $34             $35             $36                   $36
      kWh per year                                                                  473,040,000     473,040,000     473,040,000     473,040,000        473,040,000     473,040,000     473,040,000     473,040,000      473,040,000     473,040,000     473,040,000           473,040,000
      Electricity Generation Revenues per Year                                      $83,136,263     $84,798,988     $86,494,968     $88,224,867        $89,989,365     $91,789,152     $93,624,935     $95,497,434      $97,407,382     $99,355,530    $101,342,641          $103,369,494
      Gross Product Sales ($/yr)                                                    $85,927,569     $87,646,121     $89,399,043     $91,187,024        $93,010,764     $94,870,980     $96,768,399     $98,703,767     $100,677,843    $102,691,399    $104,745,227          $106,840,132

   Capitalization Loan to support Operations                                             $0              $0              $0              $0                 $0              $0              $0              $0              $0              $0              $0                    $0

   Total Revenues (Tip Fee & Sales & Capitalization)                                $97,573,759     $99,485,634     $101,435,747    $103,424,862       $105,453,759    $107,523,234    $109,634,099    $111,787,181    $113,983,325    $116,223,391    $118,508,259          $120,838,824

   Net Cash Flow (Operating Income)                                                 $80,977,617     $82,547,406     $84,146,185     $85,774,365        $87,432,356     $89,120,559     $90,839,373     $92,589,190     $94,370,393     $96,183,358     $98,028,448           $99,906,019

   Adjustments to Income
      Project Loan Payments & Plant Investment from Income                          ($1,329,060)      ($66,453)       ($3,323)         ($166)              ($8)            ($0)            ($0)            ($0)            ($0)            ($0)            ($0)                  ($0)
      Depreciation (20yr straight line)                                               $21,760         $21,760         $21,760         $21,760            $21,760         $21,760         $21,760         $21,760         $21,760         $21,760            $0                    $0
      Tax and Other Incentives (TBD)                                                     $0              $0             $0               $0                 $0              $0              $0              $0              $0              $0              $0                    $0
      To Operating Reserve Fund                                                          $0              $0             $0               $0                 $0              $0              $0              $0              $0              $0              $0                    $0

   Net Income for Distribution                                                      $79,648,557     $82,480,953     $84,142,862     $85,774,199        $87,432,347     $89,120,559     $90,839,373     $92,589,190     $94,370,393     $96,183,358     $98,028,448           $99,906,019



   Capital Requirements
       Power Project




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                    Printdate: 10/27/2011
Tab: (S) Proforma Summary                                                                                                               Page 6 of 14                                                                                                                         Time: 10:08 PM
 Proprietary & Confidential

 Echo Energy Group                                                                             Blue = Input
                                                                                               Variable                     Years                  Year                   Year                   Year                  Year                  Year                  Year                  Year                     Year                   Year                  Year                  Year                  Year                    Year                    Year                    Year                    Year                    Year                   Year                   Year                   Year
 Converting Waste to Energy                                                                    Brown = Data from
                                                                                                                        (Ph) D1 & D2                3                      4                      5                     6                     7                     8                     9                        10                     11                    12                    13                    14                      15                      16                      17                      18                      19                     20                     21                     22
                                                                                               other sheet
                                                                                               Black = Formula
 Caribean 60 MW                                                                                                        Proj Development         Operations
                                                                               July 16, 2010
 Plant Capital Costs
       Total Major Plant Equipment                                                                                      $170,800,000              $0.00                  $0.00                  $0.00                 $0.00                 $0.00                 $0.00                 $0.00                    $0.00                  $0.00                 $0.00                 $0.00                 $0.00                   $0.00                   $0.00                   $0.00                   $0.00                   $0.00                  $0.00                  $0.00                  $0.00
       Land Purchase (closing incl.)                                                                               $                -
       Capitalization of Operating Costs                                                                           $                -
       Balance of Plant/Ancillary Equipment                                                                        $            435,200
       Development Costs/Contingency                                                                               $         24,407,452
 Plant Capital Investment (devel, install & upgrades)                                                              $        195,642,652    $               -      $               -      $               -     $               -     $               -     $               -     $               -      $                 -      $               -     $               -     $               -     $               -      $                 -     $                -      $                -      $                -      $                -     $                -     $               -      $               -
 Cum Plant Capital Investment                                                                                      $        195,642,652    $       195,642,652    $       195,642,652    $       195,642,652   $       195,642,652   $       195,642,652   $       195,642,652   $       195,642,652    $         195,642,652    $       195,642,652   $       195,642,652   $       195,642,652   $       195,642,652    $         195,642,652   $        195,642,652    $        195,642,652    $        195,642,652    $        195,642,652   $        195,642,652   $       195,642,652    $       195,642,652

 Plant Operations
       No of Gasifier Units (2 trains /unit)                                                                                  0                       2                      2                      2                     2                     2                     2                     2                      2                        2                     2                     2                     2                       2                       2                       2                       2                       2                      2                      2                      2
       Tire process capacity @ 100 tons/unit day                                                     10,000                   0                    20000                  20000                  20000                 20000                 20000                 20000                 20000                  20000                    20000                 20000                 20000                 20000                   20000                   20000                   20000                   20000                   20000                  20000                  20000                  20000
       Expected Days/Yr of Operation @ 24/7                                                                                  319                     330                    330                    330                   330                   330                   330                   330                    330                      330                   330                   330                   330                     330                     330                     330                     330                     330                    330                    330                    330
       Calc Plant Operating Capacity Factor                                                                                                       90.41%                 90.41%                 90.41%                90.41%                90.41%                90.41%                90.41%                 90.41%                   90.41%                90.41%                90.41%                90.41%                  90.41%                  90.41%                  90.41%                  90.41%                  90.41%                 90.41%                 90.41%                 90.41%
       Annual Tire Process Capacity (tires/yr) @ 100% equip utility                                                            0                 6,600,000              6,600,000              6,600,000             6,600,000             6,600,000             6,600,000             6,600,000              6,600,000                6,600,000             6,600,000             6,600,000             6,600,000               6,600,000               6,600,000               6,600,000               6,600,000               6,600,000              6,600,000              6,600,000              6,600,000
       Annual Tire Process Capacity @ 100 tires/ton (tons/yr)                                         200                      0                   33,000                 33,000                 33,000                33,000                33,000                33,000                33,000                 33,000                   33,000                33,000                33,000                33,000                  33,000                  33,000                  33,000                  33,000                  33,000                 33,000                 33,000                 33,000
       Annual Tire Process Rate @ 100 tires/ton (tons/yr)                                                                   27,000                 40,500                 40,500                 40,500                40,500                40,500                40,500                40,500                 40,500                   40,500                40,500                40,500                40,500                  40,500                  40,500                  40,500                  40,500                  40,500                 40,500                 40,500                 40,500
       Excess plant processing capacity (tons/yr) @ 100% equip use                                                         -27,000                 -7,500                 -7,500                 -7,500                -7,500                -7,500                -7,500                -7,500                 -7,500                   -7,500                -7,500                -7,500                -7,500                  -7,500                  -7,500                  -7,500                  -7,500                  -7,500                 -7,500                 -7,500                 -7,500
       Excess plant processing capacity (tires/yr) @ 100% equip use                                                      (5,400,000)            (1,500,000)            (1,500,000)            (1,500,000)           (1,500,000)           (1,500,000)           (1,500,000)           (1,500,000)            (1,500,000)              (1,500,000)           (1,500,000)           (1,500,000)           (1,500,000)             (1,500,000)             (1,500,000)             (1,500,000)             (1,500,000)             (1,500,000)            (1,500,000)            (1,500,000)            (1,500,000)
       Calculated % plant equip utilization                                                                                                         123%                   123%                   123%                  123%                  123%                  123%                  123%                   123%                     123%                  123%                  123%                  123%                    123%                    123%                    123%                    123%                    123%                   123%                   123%                   123%

 Operating and Related Costs
       Plant Major Equipment Lease Costs                                                                                      $0                     $0                     $0                     $0                    $0                    $0                   $0                    $0                     $0
       Foreman (4) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                                 $36.25              ($529,250)             ($301,600)             ($307,632)             ($313,785)            ($320,060)            ($326,462)           ($332,991)            ($339,651)             ($346,444)               ($353,372)            ($360,440)            ($367,649)            ($375,002)              ($382,502)              ($390,152)              ($397,955)              ($405,914)              ($414,032)             ($422,313)             ($430,759)             ($439,374)
       Operator (16) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                               $29.00             ($2,019,560)            ($965,120)             ($984,422)            ($1,004,111)          ($1,024,193)          ($1,044,677)         ($1,065,570)          ($1,086,882)           ($1,108,620)             ($1,130,792)          ($1,153,408)          ($1,176,476)          ($1,200,005)            ($1,224,006)            ($1,248,486)            ($1,273,455)            ($1,298,924)            ($1,324,903)           ($1,351,401)           ($1,378,429)           ($1,405,998)
       Laborer (8) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                                 $21.75              ($508,080)             ($361,920)             ($369,158)             ($376,542)            ($384,072)            ($391,754)           ($399,589)            ($407,581)             ($415,732)               ($424,047)            ($432,528)            ($441,178)            ($450,002)              ($459,002)              ($468,182)              ($477,546)              ($487,097)              ($496,839)             ($506,775)             ($516,911)             ($527,249)
       Mechanic (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                                $36.25               ($92,438)              ($75,400)              ($76,908)              ($78,446)             ($80,015)             ($81,615)            ($83,248)             ($84,913)              ($86,611)                ($88,343)             ($90,110)             ($91,912)             ($93,750)               ($95,625)               ($97,538)               ($99,489)              ($101,478)              ($103,508)             ($105,578)             ($107,690)             ($109,844)
       Electrician (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                             $36.25               ($35,283)              ($75,400)              ($76,908)              ($78,446)             ($80,015)             ($81,615)            ($83,248)             ($84,913)              ($86,611)                ($88,343)             ($90,110)             ($91,912)             ($93,750)               ($95,625)               ($97,538)               ($99,489)              ($101,478)              ($103,508)             ($105,578)             ($107,690)             ($109,844)
       Plant Manager @ burdened (45%) $/hr esc.                                                       $94.25              ($240,338)             ($196,040)             ($199,961)             ($203,960)            ($208,039)            ($212,200)           ($216,444)            ($220,773)             ($225,188)               ($229,692)            ($234,286)            ($238,972)            ($243,751)              ($248,626)              ($253,599)              ($258,671)              ($263,844)              ($269,121)             ($274,503)             ($279,993)             ($285,593)
       Clerk @ burdened (45%) $/hr esc.                                                               $29.00               ($73,950)              ($60,320)              ($61,526)              ($62,757)             ($64,012)             ($65,292)            ($66,598)             ($67,930)              ($69,289)                ($70,674)             ($72,088)             ($73,530)             ($75,000)               ($76,500)               ($78,030)               ($79,591)               ($81,183)               ($82,806)              ($84,463)              ($86,152)              ($87,875)
       Engineer @ burdened (45%) $/hr esc.                                                            $87.00              ($105,850)              ($60,320)              ($61,526)              ($62,757)             ($64,012)             ($65,292)            ($66,598)             ($67,930)              ($69,289)                ($70,674)             ($72,088)             ($73,530)             ($75,000)               ($76,500)               ($78,030)               ($79,591)               ($81,183)               ($82,806)              ($84,463)              ($86,152)              ($87,875)
       Technician @ burdened (45%) $/hr esc.                                                          $36.25               ($44,104)              ($60,320)              ($61,526)              ($62,757)             ($64,012)             ($65,292)            ($66,598)             ($67,930)              ($69,289)                ($70,674)             ($72,088)             ($73,530)             ($75,000)               ($76,500)               ($78,030)               ($79,591)               ($81,183)               ($82,806)              ($84,463)              ($86,152)              ($87,875)
       Direct Maintenance (est $/mo)                                                                $100,000             ($1,100,000)           ($1,200,000)           ($1,200,000)           ($1,200,000)          ($1,200,000)          ($1,200,000)         ($1,200,000)          ($1,200,000)           ($1,200,000)             ($1,200,000)          ($1,200,000)          ($1,200,000)          ($1,200,000)            ($1,200,000)            ($1,200,000)            ($1,200,000)            ($1,200,000)            ($1,200,000)           ($1,200,000)           ($1,200,000)           ($1,200,000)
       Direct Accounting Svcs $/yr esc                                                              $100,000              ($158,333)             ($100,000)             ($102,000)             ($104,040)            ($106,121)            ($108,243)           ($110,408)            ($112,616)             ($114,869)               ($117,166)            ($119,509)            ($121,899)            ($124,337)              ($126,824)              ($129,361)              ($131,948)              ($134,587)              ($137,279)             ($140,024)             ($142,825)             ($145,681)
       G&A $/mo esc                                                                                 $225,000             ($5,400,000)           ($2,700,000)           ($2,754,000)           ($2,809,080)          ($2,865,262)          ($2,922,567)         ($2,981,018)          ($3,040,639)           ($3,101,451)             ($3,163,480)          ($3,226,750)          ($3,291,285)          ($3,357,111)            ($3,424,253)            ($3,492,738)            ($3,562,593)            ($3,633,845)            ($3,706,521)           ($3,780,652)           ($3,856,265)           ($3,933,390)
       Logistics in the trucking daily                                                                $2,500               ($31,667)             ($912,500)             ($930,750)             ($949,365)            ($968,352)            ($987,719)          ($1,007,474)          ($1,027,623)           ($1,048,176)             ($1,069,139)          ($1,090,522)          ($1,112,332)          ($1,134,579)            ($1,157,271)            ($1,180,416)            ($1,204,024)            ($1,228,105)            ($1,252,667)           ($1,277,720)           ($1,303,275)           ($1,329,340)
       Containers to 5 daily@1000 per/100tnpd                                                         $5,000                  $0                ($1,825,000)           ($1,861,500)           ($1,898,730)          ($1,936,705)          ($1,975,439)         ($2,014,947)          ($2,055,246)           ($2,096,351)             ($2,138,278)          ($2,181,044)          ($2,224,665)          ($2,269,158)            ($2,314,541)            ($2,360,832)            ($2,408,049)            ($2,456,210)            ($2,505,334)           ($2,555,441)           ($2,606,549)           ($2,658,680)
       Overhead/Indirects $/yr esc                                                                  $200,000              ($316,667)             ($200,000)             ($204,000)             ($208,080)            ($212,242)            ($216,486)           ($220,816)            ($225,232)             ($229,737)               ($234,332)            ($239,019)            ($243,799)            ($248,675)              ($253,648)              ($258,721)              ($263,896)              ($269,174)              ($274,557)             ($280,048)             ($285,649)             ($291,362)
       Product Testing (Process QC, Envir, Acceptance)                                              $100,000              ($110,000)             ($100,000)             ($102,000)             ($104,040)            ($106,121)            ($108,243)           ($110,408)            ($112,616)             ($114,869)               ($117,166)            ($119,509)            ($121,899)            ($124,337)              ($126,824)              ($129,361)              ($131,948)              ($134,587)              ($137,279)             ($140,024)             ($142,825)             ($145,681)
       Annual Project Insurance                                                                    $2,000,000            ($4,000,000)           ($2,040,000)           ($2,080,800)           ($2,122,416)          ($2,164,864)          ($2,208,162)         ($2,252,325)          ($2,297,371)           ($2,343,319)             ($2,390,185)          ($2,437,989)          ($2,486,749)          ($2,536,484)            ($2,587,213)            ($2,638,958)            ($2,691,737)            ($2,745,571)            ($2,800,483)           ($2,856,492)           ($2,913,622)           ($2,971,895)
       Nat Gas (5100 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                                      $0                    $0                     $0                     $0                     $0                    $0                    $0                   $0                    $0                     $0                       $0                    $0                    $0                    $0                      $0                      $0                      $0                      $0                      $0                     $0                     $0                     $0
       Nat Gas (106000 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                                    $0                    $0                     $0                     $0                     $0                    $0                    $0                   $0                    $0                     $0                       $0                    $0                    $0                    $0                      $0                      $0                      $0                      $0                      $0                     $0                     $0                     $0
       Port Lease (esc at 7% starting yr 3)                                                         $400,000                  $0                 ($400,000)             ($428,000)             ($457,960)            ($490,017)            ($524,318)           ($561,021)            ($600,292)             ($642,313)               ($687,274)            ($735,384)            ($786,861)            ($841,941)              ($900,877)              ($963,938)             ($1,031,414)            ($1,103,613)            ($1,180,865)           ($1,263,526)           ($1,351,973)           ($1,446,611)
        Port Cargo Fees                                                                            $2,021,630            ($1,853,161)           ($2,021,630)           ($2,021,630)           ($2,062,063)          ($2,103,304)          ($2,145,370)         ($2,188,277)          ($2,232,043)           ($2,276,684)             ($2,322,217)          ($2,368,662)          ($2,416,035)          ($2,464,356)            ($2,513,643)            ($2,563,916)            ($2,615,194)            ($2,667,498)            ($2,720,848)           ($2,775,265)           ($2,830,770)           ($2,887,385)
        Port Lease / Cargo Fees                                                                     $540,000                  $0                     $0                 ($540,000)             ($550,800)            ($561,816)            ($573,052)           ($584,513)            ($596,204)             ($608,128)               ($620,290)            ($632,696)            ($645,350)            ($658,257)              ($671,422)              ($684,851)              ($698,548)              ($712,519)              ($726,769)             ($741,304)             ($756,130)             ($771,253)
       Tangible Personal Property Tax (est for eqpt)                                                 $10,000                  $0                  ($10,000)              ($10,200)              ($10,000)             ($10,000)             ($10,000)            ($10,000)             ($10,000)              ($10,000)                ($10,000)             ($10,000)             ($10,000)             ($10,000)               ($10,000)               ($10,000)               ($10,000)               ($10,000)               ($10,000)              ($10,000)              ($10,000)              ($10,000)
       Other                                                                                       $5,000,000            ($2,500,000)           ($5,000,000)           ($5,100,000)           ($5,202,000)          ($5,306,040)          ($5,412,161)
 Total Operating and Related Costs                                                                                      ($19,118,680)          ($18,665,570)          ($19,534,449)          ($19,922,134)         ($20,319,274)         ($20,725,961)         ($15,622,092)         ($15,938,385)          ($16,262,967)            ($16,596,142)         ($16,938,229)         ($17,289,562)         ($17,650,497)           ($18,021,404)           ($18,402,676)           ($18,794,726)           ($19,197,991)           ($19,612,932)          ($20,040,034)          ($20,479,810)          ($20,932,805)
                                                                            O&M $/kWh                                                               0.039
 Tire & Other Materials Input
       Tire Input from (car tires/yr)                                                              7,200,000              5,400,000             7,200,000              7,200,000              7,200,000             7,200,000             7,200,000             7,200,000             7,200,000                 7,200,000             7,200,000             7,200,000             7,200,000             7,200,000               7,200,000               7,200,000               7,200,000               7,200,000               7,200,000              7,200,000              7,200,000              7,200,000
       Tip fee for Tire Input ($/tire)                                                               $0.45                  $0.40                 $0.35                  $0.30                  $0.25                 $0.20                 $0.20                 $0.20                 $0.20                     $0.20                 $0.20                 $0.20                 $0.20                 $0.20                   $0.20                   $0.20                   $0.20                   $0.20                   $0.20                  $0.20                  $0.20                  $0.20
       Revenue from tires                                                                                          $           2,160,000   $          2,520,000   $          2,160,000   $         1,800,000   $         1,440,000   $         1,440,000   $         1,440,000   $         1,440,000    $            1,440,000   $         1,440,000   $         1,440,000   $         1,440,000   $          1,440,000   $           1,440,000   $           1,440,000   $           1,440,000   $           1,440,000   $          1,440,000   $          1,440,000   $          1,440,000   $          1,440,000
       Tire Input from Other (tires/yr)                                                             900,000                    0                 900,000                900,000                900,000               900,000               900,000               900,000               900,000                   900,000               900,000               900,000               900,000               900,000                 900,000                 900,000                 900,000                 900,000                 900,000                900,000                900,000                900,000
       Tip fee for Other Tire Input ($/tire)                                                         $0.60                  $0.60                 $0.60                  $0.60                  $0.60                 $0.60                 $0.60                 $0.60                 $0.60                     $0.60                 $0.60                 $0.60                 $0.60                 $0.60                   $0.60                   $0.60                   $0.60                   $0.60                   $0.60                  $0.60                  $0.60                  $0.60
       Revenue from Other Tire Input                                                                               $                 -     $            540,000   $            540,000   $           540,000   $           540,000   $           540,000   $           540,000   $           540,000    $              540,000   $           540,000   $           540,000   $           540,000   $            540,000   $             540,000   $             540,000   $             540,000   $             540,000   $            540,000   $            540,000   $            540,000   $            540,000
       Total Tires (tires/yr)                                                                                                  5,400,000              8,100,000              8,100,000             8,100,000             8,100,000             8,100,000             8,100,000             8,100,000                 8,100,000             8,100,000             8,100,000             8,100,000              8,100,000               8,100,000               8,100,000               8,100,000               8,100,000              8,100,000              8,100,000              8,100,000              8,100,000
       Total Tire Tip Fee Revenue                                                                                  $           2,160,000   $          3,060,000   $          2,700,000   $         2,340,000   $         1,980,000   $         1,980,000   $         1,980,000   $         1,980,000    $            1,980,000   $         1,980,000   $         1,980,000   $         1,980,000   $          1,980,000   $           1,980,000   $           1,980,000   $           1,980,000   $           1,980,000   $          1,980,000   $          1,980,000   $          1,980,000   $          1,980,000
       MSW Input (tons/day)                                                                          1,000                   500                  1,000                  1,000                  1,000                 1,000                 1,000                 1,000                 1,000                     1,000                 1,000                 1,000                 1,000                 1,000                   1,000                   1,000                   1,000                   1,000                   1,000                  1,000                  1,000                  1,000
       MSW Tip Fee ($/ton)                                                                            $25                  $25.00                $25.00                 $25.50                 $26.01                $26.53                $27.06                $27.60                $28.15                    $28.72                $29.29                $29.88                $30.47                $31.08                  $31.71                  $32.34                  $32.99                  $33.65                  $34.32                 $35.01                 $35.71                 $36.42
       MSW Input (tons/year)                                                                                               318,750                      330,000                330,000               330,000               330,000               330,000               330,000               330,000                   330,000               330,000               330,000               330,000                330,000                 330,000                 330,000                 330,000                 330,000                330,000                330,000                330,000                330,000
       MSW Revenue                                                                                                 $           7,968,750   $          8,250,000   $          8,415,000   $         8,583,300   $         8,754,966   $         8,930,065   $         9,108,667   $         9,290,840    $            9,476,657   $         9,666,190   $         9,859,514   $        10,056,704   $        10,257,838    $          10,462,995   $          10,672,255   $          10,885,700   $         11,103,414    $         11,325,482   $         11,551,992   $        11,783,032    $        12,018,692
 Total Tip Fee Revenue ($/yr)                                                                                      $          10,128,750   $        11,310,000    $        11,115,000    $        10,923,300   $        10,734,966   $        10,910,065   $        11,088,667   $        11,270,840    $           11,456,657   $        11,646,190   $        11,839,514   $        12,036,704   $        12,237,838    $          12,442,995   $          12,652,255   $          12,865,700   $         13,083,414    $         13,305,482   $         13,531,992   $        13,763,032    $        13,998,692

 Production & Sales
       Base year escalator at CPI                                                                     2.0%                  0.0%                  100.0%                102.0%                 104.0%                106.1%                108.2%                110.4%                112.6%                    114.9%                117.2%                119.5%                121.9%                124.3%                  126.8%                  129.4%                  131.9%                  134.6%                  137.3%                 140.0%                 142.8%                 145.7%
       Oil production rate (lb/yr at assumed % yield from Pyro Unit)                                   0%                     0                      0                     0                      0                     0                     0                     0                     0                         0                     0                     0                     0                     0                       0                       0                       0                       0                       0                      0                      0                      0
       Oil production rate (gal/yr at assumed oil density of 8.4 lb/gal )                             8.400                   0                      0                     0                      0                     0                     0                     0                     0                         0                     0                     0                     0                     0                       0                       0                       0                       0                       0                      0                      0                      0
       Crude Oil Price $/bbl, esc                                                                    $80.00                $80.00                 $80.00                $80.00                 $81.60                $83.23                $84.90                $86.59                $88.33                    $90.09                $91.89                $93.73                $95.61                $97.52                  $99.47                  $101.46                 $103.49                 $105.56                 $107.67                $109.82                $112.02                $114.26
       Net Oil Sales Price ($/gal) (based on $/bbl crude oil @42 gal/bbl)                                                   $1.90                  $1.90                 $1.90                  $1.94                 $1.98                 $2.02                 $2.06                 $2.10                     $2.15                 $2.19                 $2.23                 $2.28                 $2.32                   $2.37                   $2.42                   $2.46                   $2.51                   $2.56                  $2.61                  $2.67                  $2.72
       Gross Oil Annual Sales                                                                                                $0                     $0                    $0                     $0                    $0                    $0                    $0                    $0                        $0                    $0                    $0                    $0                    $0                      $0                      $0                      $0                      $0                      $0                     $0                     $0                     $0

       Char production rate (ton/100 ton tires)                                                       0.0                    0.0                   0.0                    0.0                    0.0                   0.0                   0.0                   0.0                   0.0                      0.0                    0.0                   0.0                   0.0                   0.0                     0.0                     0.0                     0.0                     0.0                     0.0                    0.0                    0.0                    0.0
       Char production (ton/yr)                                                                                               0                     0                      0                      0                     0                     0                     0                     0                        0                      0                     0                     0                     0                       0                       0                       0                       0                       0                      0                      0                      0
    Net Char Sales Price ($/ton) esc                                                                $700.00                $700.00               $700.00                $700.00                $714.00               $728.28               $742.85               $757.70               $772.86                  $788.31                $804.08               $820.16               $836.56               $853.30                 $870.36                 $887.77                 $905.52                 $923.64                 $942.11                $960.95                $980.17                $999.77
       Gross Char Annual Sales                                                                                               $0                    $0                     $0                     $0                    $0                    $0                    $0                    $0                       $0                     $0                    $0                    $0                    $0                      $0                      $0                      $0                      $0                      $0                     $0                     $0                     $0

       Steel production rate (lb/tire)                                                                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                   3.0                     3.0                     3.0                     3.0                     3.0                     3.0                    3.0                    3.0                    3.0
       Steel production (ton/yr)                                                                                            4,950                 12,150                 12,150                 12,150                12,150                12,150                12,150                12,150                 12,150                   12,150                12,150                12,150                12,150                  12,150                  12,150                  12,150                  12,150                  12,150                 12,150                 12,150                 12,150
    Net Steel Sales Price ($/ton) esc                                                               $200.00                $200.00               $200.00                $200.00                $204.00               $208.08               $212.24               $216.49               $220.82                $225.23                  $229.74               $234.33               $239.02               $243.80                 $248.67                 $253.65                 $258.72                 $263.90                 $269.17                $274.56                $280.05                $285.65
       Gross Steel Annual Sales                                                                                           $990,000              $2,430,000             $2,430,000             $2,478,600            $2,528,172            $2,578,735            $2,630,310            $2,682,916             $2,736,575               $2,791,306            $2,847,132            $2,904,075            $2,962,156              $3,021,400              $3,081,828              $3,143,464              $3,206,333              $3,270,460             $3,335,869             $3,402,587             $3,470,638

       Electrical Generating Capacity (MW)                                                            60.0
       Electricity production (hr/yr at 90% Capacity Factor)                                          90%                   6,885                 7,884                  7,884                  7,884                 7,884                 7,884                 7,884                 7,884                  7,884                    7,884                 7,884                 7,884                 7,884                   7,884                   7,884                   7,884                   7,884                    7,884                  7,884                  7,884                  7,884
       Electricity production (kWh/yr)                                                                                   324,810,000           473,040,000            473,040,000            473,040,000           473,040,000           473,040,000           473,040,000           473,040,000            473,040,000              473,040,000           473,040,000           473,040,000           473,040,000             473,040,000             473,040,000             473,040,000             473,040,000              473,040,000            473,040,000            473,040,000            473,040,000
       Annual Electricity sales rate ($/kWh), esc.                                                   $0.15                  $0.15                $0.150                 $0.153                 $0.156                $0.159                $0.162                $0.166                $0.169                 $0.172                   $0.176                $0.179                $0.183                $0.187                  $0.190                  $0.194                  $0.198                  $0.202                   $0.206                 $0.210                 $0.214                 $0.219
       Gross annual Electricity revenues (at $/kWh)                                                                      $48,721,500           $70,956,000            $72,375,120            $73,822,622           $75,299,075           $76,805,056           $78,341,157           $79,907,981            $81,506,140              $83,136,263           $84,798,988           $86,494,968           $88,224,867             $89,989,365             $91,789,152             $93,624,935             $95,497,434              $97,407,382            $99,355,530           $101,342,641           $103,369,494
 Total Gross Product Sales ($/yr)                                                                                        $49,711,500           $73,386,000            $74,805,120            $76,301,222           $77,827,247           $79,383,792           $80,971,468           $82,590,897            $84,242,715              $85,927,569           $87,646,121           $89,399,043           $91,187,024             $93,010,764             $94,870,980             $96,768,399             $98,703,767             $100,677,843           $102,691,399           $104,745,227           $106,840,132

 Capitalization Loan to support Operations                                                                                    $0                    $0
 Total Revenues (Tip Fee & Sales & Capitalization)                                                                       $59,840,250           $84,696,000            $85,920,120            $87,224,522           $88,562,213           $90,293,857           $92,060,134           $93,861,737            $95,699,372              $97,573,759           $99,485,634           $101,435,747          $103,424,862            $105,453,759            $107,523,234            $109,634,099            $111,787,181            $113,983,325           $116,223,391           $118,508,259           $120,838,824

 Net Cash Flow (Operating Income)                                                                                        $40,721,570            $66,030,430            $66,385,671            $67,302,389           $68,242,938           $69,567,896           $76,438,042           $77,923,352            $79,436,405              $80,977,617           $82,547,406           $84,146,185           $85,774,365            $87,432,356             $89,120,559             $90,839,373             $92,589,190             $94,370,393            $96,183,358            $98,028,448            $99,906,019
 Cum Net Cash Flow                                                                                                       $40,721,570           $106,752,000           $173,137,671           $240,440,060          $308,682,998          $378,250,895          $454,688,937          $532,612,289           $612,048,694             $693,026,311          $775,573,716          $859,719,901          $945,494,266           $1,032,926,622          $1,122,047,180          $1,212,886,553          $1,305,475,743          $1,399,846,136         $1,496,029,494         $1,594,057,942         $1,693,963,961




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Printdate: 10/27/2011
                                                                                                                                                                                                                                                                                                 Page 7 of 14
Tab: (1) Proforma                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Time: 10:08 PM
 Proprietary & Confidential

 Echo Energy Group                                                                                 Blue = Input
                                                                                                   Variable                       Years                   Year                    Year                    Year                  Year                  Year                  Year                    Year                      Year               Year                   Year                  Year                  Year                  Year                  Year                  Year                  Year                  Year                  Year                  Year                  Year
 Converting Waste to Energy                                                                        Brown = Data from
                                                                                                                              (Ph) D1 & D2                 3                       4                        5                     6                     7                     8                       9                        10                 11                     12                    13                    14                    15                    16                    17                    18                    19                    20                    21                    22
                                                                                                   other sheet
                                                                                                   Black = Formula
 Caribean 60 MW                                                                                                              Proj Development          Operations
                                                                                   July 16, 2010

 Operating Income                                                                                                              $40,721,570            $66,030,430             $66,385,671             $67,302,389           $68,242,938           $69,567,896           $76,438,042             $77,923,352             $79,436,405           $80,977,617            $82,547,406           $84,146,185           $85,774,365           $87,432,356           $89,120,559           $90,839,373           $92,589,190           $94,370,393           $96,183,358           $98,028,448           $99,906,019

 Tire Pyro Project Loan Deductions & Plant Investments from Income
       Percent Equity vs. Debt for current year                                                                                 0%                         0%                    100%                     100%                  100%                  100%                  100%                    100%                     100%                100%                   100%                  100%                  100%                  100%                  100%                  100%                  100%                  100%                  100%                  100%                  100%
       Amount to Debt                                                                                                    $     180,390,000                 $0            $                   -   $                  -   $                 -   $                 -   $                 -     $                 -     $                 -   $                  -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -   $                 -
       Equity Investment Direct Payout (Ded'n)                                                                                  $0                         $0                      $0                       $0                    $0                    $0                    $0                      $0                      $0                   $0                     $0                    $0                    $0                   $0                    $0                    $0                    $0                     $0                    $0                    $0                    $0
       Debt Investment Payback/Prepay (Ded'n)                                                                                   $0                         $0                      $0                       $0                    $0                    $0                    $0                      $0                      $0                   $0                     $0                    $0                    $0                   $0                    $0                    $0                    $0                     $0                    $0                    $0                    $0
       Debt service (principal) (Ded'n)                                                                                         $0                   ($18,890,768)           ($19,835,306)            ($20,827,072)         ($21,868,425)         ($22,961,847)         ($24,109,939)           ($25,315,436)           ($25,252,147)         ($1,262,607)            ($63,130)              ($3,157)               ($158)                 ($8)                  $0                    $0                    $0                     $0                    $0                    $0                    $0
       Debt service (interest) (Ded'n)                                                                                     ($13,115,813)              ($9,019,500)            ($8,074,962)             ($7,083,196)          ($6,041,843)          ($4,948,421)          ($3,800,329)            ($2,594,832)            ($1,329,060)           ($66,453)              ($3,323)               ($166)                 ($8)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)
 Total Tire Project Loan Payback related Deductions                                                                        ($13,115,813)             ($27,910,268)           ($27,910,268)            ($27,910,268)         ($27,910,268)         ($27,910,268)         ($27,910,268)           ($27,910,268)           ($26,581,208)         ($1,329,060)            ($66,453)              ($3,323)               ($166)                 ($8)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)                  ($0)

 Depreciation Percentage (20yr straight line)                                                             5.00%                                          5.00%                   5.00%                   5.00%                 5.00%                 5.00%                 5.00%                   5.00%                     5.00%              5.00%                  5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%
       Less Depreciation on Cap Improvements                                                                                                            $21,760                 $21,760                 $21,760               $21,760               $21,760               $21,760                 $21,760                   $21,760            $21,760                $21,760               $21,760               $21,760               $21,760               $21,760               $21,760               $21,760               $21,760               $21,760

 Tax and Other Incentives
       To be determined                                                                                                            $0                     $0                      $0                       $0                    $0                    $0                    $0                      $0                       $0                  $0                     $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0

 To Operating Reserve Fund                                                                              $100,000                   $0                  ($100,000)              ($100,000)              ($100,000)            ($100,000)            ($100,000)                $0                      $0                        $0                 $0                     $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0
 Cum Operating Reserve Fund                                                                                                        $0                  $100,000                $200,000                 $300,000              $400,000              $500,000              $500,000                $500,000                  $500,000           $500,000               $500,000              $500,000              $500,000              $500,000              $500,000              $500,000              $500,000              $500,000              $500,000              $500,000              $500,000

 Net Income for Distribution                                                                                                   $27,605,758            $38,020,162             $38,375,403             $39,292,121           $40,232,670           $41,557,628           $48,527,774             $50,013,084             $52,855,197           $79,648,557            $82,480,953           $84,142,862           $85,774,199           $87,432,347           $89,120,559           $90,839,373           $92,589,190           $94,370,393           $96,183,358           $98,028,448           $99,906,019



 0.048581515




 ASSUMPTIONS:                                                                                      Project Loan
 Project Loan to be paid over 10 years beginning with commercial operation.                                       Year           D1 & D2                    3                       4                        5                     6                     7                     8                       9                      10                    11                    12                    13                    14                    15                    16                    17                    18                   19                    20                    21                    22
 Defer loan interest over D1 & D2 years until Yr 1                                                 Capital Loan Value    $         180,390,000       $180,390,000            $161,499,232             $141,663,926          $120,836,854           $98,968,429           $76,006,582             $51,896,643             $26,581,208           $1,329,060              $66,453                $3,323                $166                    $8                    $0                    $0                    $0                   $0                    $0                    $0                    $0
 TK provides car & light truck tires only                                                          Defered Interest               $0.00                  $0.00                   $0.00                      $0                    $0                    $0                    $0                      $0                      $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                   $0                    $0                    $0                    $0
 Income tax on distributions is paid by the recipients.                                            Prepayment                       $0                     $0                      $0                       $0                    $0                    $0                    $0                      $0                      $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                    $0                   $0                    $0                    $0                    $0
 No federal & state income tax is paid on or by this project.                                      Total Loan Value      $         180,390,000       $180,390,000            $161,499,232             $141,663,926          $120,836,854           $98,968,429           $76,006,582             $51,896,643             $26,581,208           $1,329,060              $66,453                $3,323                $166                    $8                    $0                    $0                    $0                   $0                    $0                    $0                    $0
 Tax incentives will either pass to the members or be discounted and sold by the project           Interest (%)                   5.00%                  5.00%                   5.00%                    5.00%                 5.00%                 5.00%                 5.00%                   5.00%                   5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                 5.00%                5.00%                 5.00%                 5.00%                 5.00%
                                                                                                   Interest Payment           ($13,115,813)           ($9,019,500)            ($8,074,962)             ($7,083,196)          ($6,041,843)          ($4,948,421)          ($3,800,329)            ($2,594,832)            ($1,329,060)           ($66,453)              ($3,323)               ($166)                 ($8)                  ($0)                  ($0)                  ($0)                  ($0)                 ($0)                  ($0)                  ($0)                  ($0)
                                                                                                   Principal Payment              $0.00              ($18,890,768)           ($19,835,306)            ($20,827,072)         ($21,868,425)         ($22,961,847)         ($24,109,939)           ($25,315,436)           ($25,252,147)         ($1,262,607)            ($63,130)              ($3,157)               ($158)                 ($8)                   $0                    $0                    $0                   $0                    $0                    $0                    $0
                                                                                                   Total Payment                  $0.00              ($27,910,268)           ($27,910,268)            ($27,910,268)         ($27,910,268)         ($27,910,268)         ($27,910,268)           ($27,910,268)           ($26,581,208)         ($1,329,060)            ($66,453)              ($3,323)               ($166)                 ($8)                  ($0)                  ($0)                  ($0)                 ($0)                  ($0)                  ($0)                  ($0)
                                                                                                   Loan Outstanding           $180,390,000           $161,499,232            $141,663,926             $120,836,854           $98,968,429           $76,006,582           $51,896,643             $26,581,208              $1,329,060             $66,453                $3,323                 $166                   $8                    $0                    $0                    $0                    $0                   $0                    $0                    $0                    $0



 Note: The loan table does not calculate interest to be $0 immediately after loan closeout.        Est. Loan Value            $180,390,000       From Yr 1 Total Loan Value                                                  Credit Line:
                                                                                                   Interest (%)                   5.00%                                                                                                       $       180,390,000   incl Financing Fee of            5%
                                                                                                   Payback Yrs                       8           Table will adjust based on this period                                         Debt          $    180,390,000.00                   Debt            100%
                                                                                                   Value at Payback                 $0                                                                                         Equity         $               -                    Equity            0%
                                                                                                   Pay end of period                 0           Use "0" for end of period, "1" for start of period                          kW Installed                   60000
                                                                                                         Annual Pmt           ($27,910,268)                                                                                 $/kW Installed    $             3,007




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               Printdate: 10/27/2011
                                                                                                                                                                                                                                                                                                             Page 8 of 14
Tab: (1) Proforma                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Time: 10:08 PM
                                                      Proprietary & Confidential                                                                                                                                                             Phase D1


                                                      Echo Energy                                                                                               Phases                        Phase                  Phase                     Month                   Month                    Month                   Month                  Month                   Month                   Month                    Month                  Month                  Month                Month                  Month                   Month
                                                                                                                                                                                              D1                      D2
                                                      Converting Waste to Energy
                                                                                                                                        Blue = Input           D1 & D2                    Months 0 - 14          Months 15 - 18                   0                       1                       2                        3                      4                       5                       6                       7                       8                      9                   10                     11                      12
                                                                                                                                        Variable
                                                                                                                                        Brown = Data
                                                                                                                                        from other
                                                                                                                                        sheet
                                                                                                                                        Black =
                                                      Caribean 60 MW                                                                    Formula
                                                                                                                                                                                                                                                              Permitting of 4 units at
                                                                                                                                                                                      Engineering,                                      Development           Port begins.                                                                                                                                      Permitting is
                                                                                                                                                                                      Permitting & Eqpt Construction &                  Financing Obtained    Site and process                                                                                                                                  completed.                                                                                                         Pase 1 Test
                                                                                                                                                       Project Development            Fabrication       Startup                         by EO Month           engineering start.                                                                                                                                Begin accepting tires                                                                                              Operation
                                                                                                                        July 16, 2010
                                                      Plant Capital Costs
                                                              Total Major Plant Equipment EPC                                                          $               170,800,000    $       108,770,000    $          62,030,000       $               -     $         24,555,000       $            150,000    $                -     $        9,165,000      $       29,055,000      $        1,385,000      $       17,990,000      $        2,970,000     $      12,210,000    $        1,920,000     $        1,945,000      $        7,425,000
                                                                      Gasification Equipment ( Proposal)                                               $                       -      $               -      $                 -
                                                                      Emission Control Equipment ()                                                    $                       -      $               -      $                 -
                                                                      Electrical Generating Equipment                                                  $                       -      $               -      $                 -
                                                              Land Purchase (closing incl.)                                                            $                       -      $               -      $                 -
                                                              Capitalization of Operating Costs                                                        $                       -      $               -      $                 -                               $                  -
                                                              Balance of Plant/Ancillary Equipment EPC - Rollup                                        $                   435,200    $           435,200    $                 -         $               -     $                  -       $                 -     $            210,000   $            179,200    $              16,000   $             30,000    $                  -    $                -     $                -   $                -     $                  -    $                -
                                                                      Gas Piping System                                                                $                       -      $               -      $                 -                                                                                                         $                -
                                                                      Equipment Delivery                                                               $                    24,200    $            24,200    $                 -                                                                                  $             10,000   $              2,200    $              12,000   $                -      $                  -                           $                -
                                                                      Equipment Installation                                                           $                    34,000    $            34,000    $                 -                                                                                                                                 $               4,000   $             30,000    $                  -    $                -                          $                -
                                                                      Ancillary Eqpt - Char & SteelHandling                                            $                   140,000    $           140,000    $                 -                                                                                                         $            140,000
                                                                      Ancillary Eqpt - Flare, Piping & Controls                                        $                       -      $               -      $                 -
                                                                      Ancillary Eqpt - Oil Tanks, Piping, Controls                                     $                       -      $               -      $                 -                                                                                                         $                  -                                                                                                   $                -
                                                                      Ancillary Eqpt - Gas Cleanup                                                     $                       -      $               -      $                 -         $               -     $                  -                                                      $                  -                                                    $                  -
                                                                      Ancillary Eqpt - Ret Pond                                                        $                       -      $               -      $                 -                                                                                                                                 $                  -
                                                                      Ancillary Eqpt - Office & General                                                $                    37,000    $            37,000    $                 -                                                                                                         $              37,000
                                                                      Utilities                                                                        $                       -      $               -      $                 -         $               -                                $                 -
                                                                      Vehicles                                                                         $                   200,000    $           200,000    $                 -                                                                                  $            200,000

                                                              Development Costs - Rollup                                                               $                  6,732,084   $         5,461,134    $              1,270,950    $        1,213,602    $           2,329,310      $            210,398    $            130,398   $            130,398    $            129,135    $            129,135    $             141,095   $            141,095   $         141,095    $            241,095   $            131,095    $            131,095
                                                                     Utility Electrical Feasibility & Interconnect Studies                             $                     80,000   $            80,000    $                    -      $              -      $                 -        $             80,000    $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Envir Legal                                                                       $                     50,000   $            50,000    $                    -      $              -      $               5,000      $              5,000    $              5,000   $              5,000    $              5,000    $              5,000    $               5,000   $              5,000   $           5,000    $              5,000   $                -      $                -
                                                                     Local Permitting                                                                  $                     45,000   $            45,000    $                    -      $              -      $                 -        $              5,000    $              5,000   $              5,000    $              5,000    $              5,000    $               5,000   $              5,000   $           5,000    $              5,000   $                -      $                -
                                                                     Local Legal                                                                       $                     20,000   $            20,000    $                    -      $              -      $               5,000      $              5,000    $              5,000   $              5,000    $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Corporate Legal                                                                   $                    200,000   $           140,000    $                 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
                                                                     Development Cost                                                                  $                  4,036,909   $         2,825,959    $              1,210,950    $        1,213,602    $             109,135      $            105,398    $            105,398   $            105,398    $            109,135    $            109,135    $             121,095   $            121,095   $         121,095    $            121,095   $            121,095    $            121,095
                                                                     Pre-Financing Costs ()                                                            $                    720,175   $           720,175    $                    -      $              -      $             720,175      $                -      $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Pre-Financing Costs (PE)                                                          $                    280,000   $           280,000    $                    -      $              -      $             280,000      $                -      $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Letter of Credit for Tire Removal Guarantee                                       $                    100,000   $           100,000    $                    -      $              -      $                 -        $                -      $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $            100,000   $                -      $                -
                                                                     Refit the Port PB                                                                 $                  1,200,000   $         1,200,000    $                    -      $              -      $           1,200,000      $                -      $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Financing Fee                                                           5.0%      $                        -     $               -      $                    -                            $                 -        $                -      $                -     $                -      $                -      $                -      $                 -     $                -     $             -      $                -     $                -      $                -
                                                                     Bridge Loan Fee                                                         0.0%
                                                              Contingency, as % of equipment, land, bal of plant, development costs         10.0%      $                 17,675,368   $        11,345,273    $              6,330,095             0            $           2,688,431      $              36,040   $             34,040   $            947,460    $        2,920,014      $            154,414    $         1,813,110     $            311,110   $       1,235,110    $            216,110   $            207,610    $            755,610

                                                      Plant Capital Investment (devel, install & upgrades)                                             $               195,642,652    $       126,011,607    $          69,631,045       $        1,213,602    $         29,572,741       $          396,437      $          374,437     $       10,422,057      $       32,120,149      $       1,698,549       $       19,944,205      $        3,422,205     $      13,586,205    $        2,377,205     $        2,283,705      $        8,311,705
                                                      Cum Plant Capital Investment                                                                     $                       -                                                         $        1,213,602    $         30,786,343       $       31,182,780      $       31,557,217     $       41,979,274      $       74,099,423      $      75,797,971       $       95,742,176      $       99,164,380     $     112,750,585    $      115,127,789     $      117,411,494      $      125,723,198

                                                      Plant Operations
                                                             No of Pyro Units                                                                                       1                            0                      1                         0                      0                         0                       0                      0                       0                       0                        0                       0                      0                    0                      0                       0
                                                             Tire process capacity @ 100 tons/unit day                                      10,000               10,000                          0                    10,000                      0                      0                         0                       0                      0                       0                       0                        0                       0                      0                    0                      0                       0
                                                             Expected Days/Mo of Operation @ 24/7                                                                 319                           15                     304                        0                      0                         0                       0                      0                       0                       0                        0                       0                      0                    0                      0                       0
                                                         Calc Plant Operating Capacity Factor                                                                   95.55%                        12.33%                 83.22%                    0.00%                  0.00%                     0.00%                   0.00%                  0.00%                   0.00%                   0.00%                    0.00%                   0.00%                  0.00%                0.00%                  0.00%                   0.00%
                                                             Annual Tire Process Capacity (tires/yr) @ 100% equip utility                                      3,037,500                         0                  3,037,500                     0                      0                         0                       0                      0                       0                       0                        0                       0                      0                    0                      0                       0
                                                             Annual Tire Process Capacity @ 100 tires/ton (tons/yr)                          200                 15,188                          0                    15,188                      0                      0                         0                       0                      0                       0                       0                        0                       0                      0                    0                      0                       0
                                                             Annual Tire Process Rate @ 100 tires/ton (tons/period)                                              27,000                       12,000                  15,000                      0                      0                         0                       0                      0                       0                       0                      1,500                   1,500                 1,500                 1,500                  1,500                   1,500
                                                             Excess plant processing capacity (tons/mo) @ 100% equip use                                        -11,813                       -12,000                  188                        0                      0                         0                       0                      0                       0                       0                     -1,500                  -1,500                 -1,500               -1,500                 -1,500                  -1,500
                                                             Excess plant processing capacity (tires/mo) @ 100% equip use                                     (2,362,500)                   -2,400,000               37,500                      0                      0                         0                       0                      0                       0                       0                    (300,000)               (300,000)              (300,000)            (300,000)              (300,000)               (300,000)
                                                             Calculated % plant equip utilization                                                                                                                      99%                     #DIV/0!                #DIV/0!                   #DIV/0!                 #DIV/0!                #DIV/0!                 #DIV/0!                 #DIV/0!                 #DIV/0!                 #DIV/0!                #DIV/0!              #DIV/0!                #DIV/0!                 #DIV/0!

                                                      Operating and Related Costs
                                                             Plant Major Equipment Lease Costs                                                                     $0                           $0                      $0                                     $                  -              $0                       $0                     $0                      $0                      $0                      $0                      $0                     $0                   $0                     $0                      $0
                                                                      Gasification Equipment (Proposal)                                                            $0                           $0                      $0                                     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $                  -    $                -     $             -      $                -     $                  -    $                -
                                                                      Emission Control Equipment ()                                                                $0                           $0                      $0                                     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $                  -    $                -     $             -      $                -     $                  -    $                -
                                                                      Electrical Generating Equipment                                                              $0                           $0                      $0                                     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $                  -    $                -     $             -      $                -     $                  -    $                -
                                                             Foreman (4) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                $36.25              ($529,250)                       $0                  ($529,250)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Operator (16) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)              $29.00             ($2,019,560)                   ($52,200)             ($1,967,360)                  $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Laborer (8) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                $21.75              ($508,080)                       $0                  ($508,080)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Mechanic (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)               $36.25               ($92,438)                     ($4,350)               ($88,088)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Electrician (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)            $36.25               ($35,283)                       $0                   ($35,283)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Plant Manager @ burdened (45%) $/hr esc.                                      $94.25              ($240,338)                    ($11,310)              ($229,028)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Clerk @ burdened (45%) $/hr esc.                                              $29.00               ($73,950)                     ($3,480)               ($70,470)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Engineer @ burdened (45%) $/hr esc.                                           $87.00              ($105,850)                       $0                  ($105,850)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Technician @ burdened (45%) $/hr esc.                                         $36.25               ($44,104)                       $0                   ($44,104)                   $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Direct Maintenance (ex direct labor) $/unit availability hour, esc          $100,000.00          ($1,100,000)                  ($100,000)             ($1,000,000)                  $0                     $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Direct Accounting Svcs $/yr esc                                              $100,000             ($158,333)                    ($75,000)               ($83,333)                   $0                     $0                       $0                      $0                     $0                      $0                    ($8,333)                 ($8,333)               ($8,333)               ($8,333)             ($8,333)               ($8,333)                ($8,333)
                                                             G&A $/mo esc                                                                 $225,000            ($5,400,000)                 ($3,150,000)            ($2,250,000)                  $0                  ($225,000)               ($225,000)              ($225,000)             ($225,000)              ($225,000)              ($225,000)               ($225,000)             ($225,000)             ($225,000)           ($225,000)             ($225,000)              ($225,000)
                                                             Logistics in the trucking daily                                                                    ($31,667)                       $0                   ($31,667)
                                                             Containers to 5 daily@1000 per/100tnpd                                                                $0                           $0                      $0
                                                             Overhead/Indirects $/mo esc                                                   $200,000            ($316,667)                   ($150,000)              ($166,667)                   $0                     $0                       $0                      $0                     $0                      $0                    ($16,667)                ($16,667)              ($16,667)              ($16,667)            ($16,667)              ($16,667)               ($16,667)
                                                             Product Testing (Process QC, Envir, Acceptance)                                                   ($110,000)                       $0                  ($110,000)                   $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Annual Project Insurance                                                     $2,000,000          ($4,000,000)                 ($2,333,333)            ($1,666,667)                  $0                  ($166,667)               ($166,667)              ($166,667)             ($166,667)              ($166,667)              ($166,667)               ($166,667)             ($166,667)             ($166,667)           ($166,667)             ($166,667)              ($166,667)
                                                             Nat Gas (5100 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                      $0                   $0                           $0                      $0                       $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Nat Gas (106000 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                    $0                   $0                           $0                      $0                       $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                              Port Lease                                                                   $400,000                $0                           $0                      $0                       $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                              Port Cargo Fees                                                             $2,021,630          ($1,853,161)                  ($168,469)             ($1,684,692)                  $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                              Port Lease / Cargo Fees TBD                                                  $540,000                $0                           $0                      $0                       $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Tangible Personal Property Tax (est for tire pyro eqpt)                        $10,000                $0                           $0                      $0                       $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                             Other                                                                        $5,000,000          ($2,500,000)                  ($416,667)             ($2,083,333)                  $0                     $0                       $0                      $0                     $0                      $0                       $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                      Total Operating and Related Costs                                                                      ($19,118,680)                 ($6,464,809)           ($12,653,871)                  $0                  ($391,667)               ($391,667)              ($391,667)             ($391,667)              ($391,667)              ($416,667)               ($416,667)             ($416,667)             ($416,667)           ($416,667)             ($416,667)              ($416,667)

                                                      Tire & Other Materials Input
                                                             Tire Input from (tires/mo)                                                                        5,400,000                    2,400,000               3,000,000                    0                       0                        0                        0                      0                       0                      0                     300,000                 300,000                300,000              300,000                300,000                 300,000
                                                             Tip fee for Tire Input ($/tire)                                                $0.45                $0.40                        $0.45                   $0.40                    $0.45                   $0.45                    $0.45                    $0.45                  $0.45                   $0.45                  $0.45                    $0.45                   $0.45                  $0.40                $0.40                  $0.40                   $0.40
                                                             Revenue from Tires                                                                               $2,190,000              $           990,000    $            1,200,000      $               -     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $          135,000      $          135,000     $         120,000    $          120,000     $          120,000      $          120,000
                                                             Tire Input from Other (tires/mo)                                                                      0                            0                       0                        0                       0                        0                        0                      0                       0                      0                        0                      0                       0                    0                      0                      0
                                                             Tip fee for Other Tire Input ($/tire)                                                                                            $0.00                   $0.00                    $0.00                   $0.00                    $0.00                    $0.00                  $0.00                   $0.00                  $0.00                    $0.00                  $0.00                   $0.00                $0.00                  $0.00                  $0.00
                                                             Revenue from Other                                                                                    $0                 $               -      $                  -        $               -     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $              -        $              -       $             -      $              -       $              -        $              -
                                                             Total Tires (tires/mo)                                                                             5,400,000                   2,400,000               3,000,000                            -                        -                         -                      -                        -                       -                     -                 300,000                 300,000               300,000               300,000                300,000                 300,000
                                                             Total Tire Tip Fee Revenue                                                                        $2,190,000             $           990,000    $            1,200,000      $               -              $0                        $0                      $0                     $0                      $0                      $0                   $135,000                $135,000          $         120,000         $120,000               $120,000                $120,000
                                                             MSW Input (tons/day)                                                           1,000                 10,000                        0                     10,000                     0                       0                         0                       0                      0                       0                       0                       0                      0                       0                    0                      0                      0
                                                             MSW Tip Fee ($/ton)                                                             $25                 $25.00                      $25.00                  $25.00                    $25.00                 $25.00                    $25.00                  $25.00                 $25.00                  $25.00                  $25.00                  $25.00                  $25.00                 $25.00               $25.00                 $25.00                  $25.00
                                                             MSW Input (tons/mo)                                                                                 318,750                     15,000                  303,750                     0                       0                         0                       0                      0                       0                       0                       0                      0                       0                    0                      0                      0
                                                             MSW Revenue                                                                                       $7,968,750             $           375,000    $            7,593,750      $               -     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $              -        $              -       $             -      $              -       $              -        $              -
                                                      Total Tip Fee Revenue ($/yr)                                                                            $10,158,750             $         1,365,000    $            8,793,750      $               -     $                  -       $                 -     $                -     $                  -    $                  -    $                -      $          135,000      $          135,000     $         120,000    $          120,000     $          120,000      $          120,000

                                                      Production & Sales
                                                              Base year escalator at CPI                                                     2.0%                0.0%                         0.0%                    0.0%                      0.0%                    0.0%                     0.0%                    0.0%                   0.0%                    0.0%                    0.0%                     0.0%                   0.0%                   0.0%                 0.0%                   0.0%                    0.0%
                                                              Oil production rate (lb/mo at assumed % yield from Pyro Unit)                   0%                   0                            0                       0                         0                       0                        0                       0                      0                       0                       0                        0                      0                      0                    0                      0                       0
                                                              Oil production rate (gal/mo at assumed oil density of 8.303 lb/gal)            8.400                 0                            0                       0                         0                       0                        0                       0                      0                       0                       0                        0                      0                      0                    0                      0                       0
                                                              Crude Oil Price $/gal, esc                                                    $80.00                                                                                             $80.00                  $80.00                   $80.00                  $80.00                 $80.00                  $80.00                  $80.00                   $80.00                 $80.00                 $80.00               $80.00                 $80.00                  $80.00
                                                              Net Oil Sales Price ($/gal) (based on $/bbl crude oil @42 gal/bbl)                                                                                                                $1.90                   $1.90                    $1.90                  $1.90                   $1.90                  $1.90                   $1.90                     $1.90                  $1.90                 $1.90                 $1.90                  $1.90                   $1.90
                                                              Gross Oil Sales                                                                                     $0                  $                  -   $                    -              $0                      $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0

                                                             Char production rate (ton/100 ton tires)                                        0.0                                                                                                0.0                     0.0                      0.0                      0.0                    0.0                     0.0                     0.0                     0.0                     0.0                    0.0                  0.0                    0.0                     0.0
                                                             Char production (ton)                                                                                 0                            0                       0                        0                       0                        0                        0                      0                       0                       0                       0                       0                      0                    0                      0                       0
                                                         Net Char Sales Price ($/ton) esc                                                  $700.00                                           $700.00                 $700.00                  $700.00                 $700.00                  $700.00                  $700.00                $700.00                 $700.00                 $700.00                 $700.00                 $700.00                $700.00              $700.00                $700.00                 $700.00
                                                             Gross Char Annual Sales                                                                              $0                  $                  -   $                    -             $0                      $0                       $0                       $0                     $0                      $0                      $0                      $0                      $0                     $0                   $0                     $0                      $0

                                                             Steel production rate (lb/tire)                                                 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                     3.0
                                                             Steel production (ton)                                                                              4,950                          0                     4,950                      0                       0                        0                        0                      0                       0                       0                       0                       0                      0                    0                      0                       0
                                                         Net Steel Sales Price ($/ton) esc                                                 $200.00                                                                                            $200.00                 $200.00                  $200.00                  $200.00                $200.00                 $200.00                 $200.00                 $200.00                 $200.00                $200.00              $200.00                $200.00                 $200.00
                                                             Gross Steel Annual Sales                                                                          $990,000                        $0                   $990,000                    $0                      $0                       $0                       $0                     $0                      $0                      $0                      $0                      $0                     $0                   $0                     $0                      $0

                                                             Electrical Generating Capacity (MW)                                             60.0
                                                             Electricity production (h/yr at 90% Capacity Factor)                            90%                 6,885                          0                     6,885                                                                                                                                                                       0                        0                      0                      0                    0                      0                       0
                                                             Electricity production (kWh/yr)                                                                  324,810,000                       0                  324,810,000                                                                                                                                                                    0                        0                      0                      0                    0                      0                       0
                                                             Annual Electricity sales rate ($/kWh), esc.                                    $0.15                                                                                                                                                                                                                                              $0.150                   $0.150                 $0.150                 $0.150               $0.150                 $0.150                  $0.150
                                                             Gross Electricity revenues (at $/kWh)                                                            $48,721,500                      $0                  $48,721,500                                                                                                                                                                   $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                      Total Gross Product Sales ($/yr)                                                                        $49,711,500                      $0                  $49,711,500                   $0                      $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0

                                                      Capitalization Loan to support Operations                                                                   $0                           $0                      $0                        $0                      $0                       $0                      $0                     $0                      $0                      $0                       $0                     $0                     $0                   $0                     $0                      $0
                                                      Total Revenues (Tip Fee & Sales & Capitalization)                                                       $59,870,250                   $750,000               $59,120,250                   $0                      $0                       $0                      $0                     $0                      $0                      $0                   $135,000                $135,000               $120,000             $120,000               $120,000                $120,000


                                                      Net Cash Flow                                                                                           $40,751,570                  ($4,125,000)            $44,876,570                   $0                  ($391,667)               ($391,667)               ($391,667)             ($391,667)              ($391,667)              ($416,667)              ($281,667)              ($281,667)             ($296,667)           ($296,667)             ($296,667)              ($296,667)
                                                      Cum Net Cash Flow                                                                                                                                                                          $0                  ($391,667)               ($783,333)              ($1,175,000)           ($1,566,667)            ($1,958,333)            ($2,375,000)            ($2,656,667)            ($2,938,333)           ($3,235,000)         ($3,531,667)           ($3,828,333)            ($4,125,000)




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Printdate: 10/27/2011
                                                                                                                                                                                                                                                                                         Page 9 of 14
Tab: (2) Yr D1&D2 Proforma Detail                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Time: 10:08 PM
                                                      Proprietary & Confidential                                                                                                             Phase D2


                                                      Echo Energy                                                                              Month                   Month                  Month                  Month                  Month                    Month                  Month                  Month                   Month                  Month                  Month                  Month

                                                      Converting Waste to Energy
                                                                                                                                                 13                      14                     15                     16                      17                      18                     19                     20                      21                     22                     23                     24




                                                      Caribean 60 MW
                                                                                                                                                                                                                                                              Gasifiers (Phase 2)
                                                                                                                                        Pase 1 Test             Gasifiers (Phase 1)                                                                           commence test                                                         Phase 2 - Complete      Phase 2 Production
                                                                                                                                        Operation               commence operation                                                                            operation                                                             Performance Testing        commences               Production             Production
                                                                                                                        July 16, 2010
                                                      Plant Capital Costs
                                                              Total Major Plant Equipment EPC                                            $                -      $                -     $                  -   $        1,325,000     $        37,035,000      $         7,340,000    $        2,850,000     $        1,275,000      $                 -    $        1,800,000     $       10,405,000     $                 -
                                                                      Gasification Equipment ( Proposal)
                                                                      Emission Control Equipment ()
                                                                      Electrical Generating Equipment
                                                              Land Purchase (closing incl.)
                                                              Capitalization of Operating Costs                                          $                -                                                                                                                                                                          $                 -    $                 -    $                 -    $                 -
                                                              Balance of Plant/Ancillary Equipment EPC - Rollup                          $                -      $                -     $                  -   $                -     $                  -     $                  -   $                 -    $                 -     $                 -    $                 -    $                 -    $                 -
                                                                      Gas Piping System
                                                                      Equipment Delivery
                                                                      Equipment Installation                                                                                                                                                                                                                 $                 -     $                 -
                                                                      Ancillary Eqpt - Char & SteelHandling
                                                                      Ancillary Eqpt - Flare, Piping & Controls                          $                -
                                                                      Ancillary Eqpt - Oil Tanks, Piping, Controls
                                                                      Ancillary Eqpt - Gas Cleanup
                                                                      Ancillary Eqpt - Ret Pond
                                                                      Ancillary Eqpt - Office & General
                                                                      Utilities
                                                                      Vehicles

                                                              Development Costs - Rollup                                                 $            131,095    $            131,095   $            131,095   $            131,095   $             131,095    $            131,095   $            131,095   $            131,095    $            121,095   $            121,095   $            121,095   $            121,095
                                                                     Utility Electrical Feasibility & Interconnect Studies               $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Envir Legal                                                         $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Local Permitting                                                    $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Local Legal                                                         $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Corporate Legal                                                     $             10,000    $             10,000   $             10,000   $             10,000   $              10,000    $             10,000   $             10,000   $             10,000    $                -     $                -     $                -     $                -
                                                                     Development Cost                                                    $            121,095    $            121,095   $            121,095   $            121,095   $             121,095    $            121,095   $            121,095   $            121,095    $            121,095   $            121,095   $            121,095   $            121,095
                                                                     Pre-Financing Costs ()                                              $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Pre-Financing Costs (PE)                                            $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Letter of Credit for Tire Removal Guarantee                         $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Refit the Port PB                                                   $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Financing Fee                                                       $                -      $                -     $                -     $                -     $                 -      $                -     $                -     $                -      $                -     $                -     $                -     $                -
                                                                     Bridge Loan Fee
                                                              Contingency, as % of equipment, land, bal of plant, development costs      $             13,110    $             13,110   $             13,110   $            145,610   $         3,716,610      $            747,110   $            298,110   $            140,610    $             12,110   $            192,110   $        1,052,610     $             12,110

                                                      Plant Capital Investment (devel, install & upgrades)                               $          144,205      $          144,205     $          144,205     $        1,601,705     $       40,882,705       $        8,218,205     $        3,279,205     $        1,546,705      $          133,205     $        2,113,205     $       11,578,705     $          133,205
                                                      Cum Plant Capital Investment                                                       $      125,867,403      $      126,011,607     $      126,155,812     $      127,757,516     $      168,640,221       $      176,858,425     $      180,137,630     $      181,684,334      $      181,817,539     $      183,930,743     $      195,509,448     $      195,642,652

                                                      Plant Operations
                                                             No of Pyro Units                                                                      0                       1                      1                     1                      1                        1                      1                      1                       1                      1                      1                      1
                                                             Tire process capacity @ 100 tons/unit day                                             0                    10000                  10000                 10000                  10000                    10000                  10000                  10000                   10000                  10000                  10000                  10000
                                                             Expected Days/Mo of Operation @ 24/7                                                  0                      15                     30                    30                     30                       30                     30                     30                      30                     30                     30                     30
                                                         Calc Plant Operating Capacity Factor                                                   0.00%                  49.32%                 98.63%                100.00%                100.00%                  100.00%                100.00%                100.00%                 100.00%                100.00%                100.00%                100.00%
                                                             Annual Tire Process Capacity (tires/yr) @ 100% equip utility                          0                   150,000                300,000               304,167                304,167                  304,167                304,167                304,167                 304,167                304,167                304,167                304,167
                                                             Annual Tire Process Capacity @ 100 tires/ton (tons/yr)                                0                      750                  1,500                 1,521                  1,521                    1,521                  1,521                  1,521                   1,521                  1,521                  1,521                  1,521
                                                             Annual Tire Process Rate @ 100 tires/ton (tons/period)                              1,500                  1,500                  1,500                 1,500                  1,500                    1,500                  1,500                  1,500                   1,500                  1,500                  1,500                  1,500
                                                             Excess plant processing capacity (tons/mo) @ 100% equip use                        -1,500                   -750                     0                    21                     21                       21                     21                     21                      21                     21                     21                     21
                                                             Excess plant processing capacity (tires/mo) @ 100% equip use                     (300,000)               (150,000)                  0                   4,167                  4,167                    4,167                  4,167                  4,167                   4,167                  4,167                  4,167                  4,167
                                                             Calculated % plant equip utilization                                              #DIV/0!                  200%                   100%                   99%                    99%                      99%                    99%                    99%                     99%                    99%                    99%                    99%

                                                      Operating and Related Costs
                                                             Plant Major Equipment Lease Costs                                                   $0                      $0                     $0                     $0                      $0                      $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                                      Gasification Equipment (Proposal)                                  $                -      $                -     $                  -   $                -     $                  -     $                  -   $                 -    $                 -     $                 -    $                 -    $                 -    $                 -
                                                                      Emission Control Equipment ()                                      $                -      $                -     $                  -   $                -     $                  -     $                  -   $                 -    $                 -     $                 -    $                 -    $                 -    $                 -
                                                                      Electrical Generating Equipment                                    $                -      $                -     $                  -   $                -     $                  -     $                  -   $                 -    $                 -     $                 -    $                 -    $                 -    $                 -
                                                             Foreman (4) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                     $0                       $0                     $0                     $0                     $0                       $0                      $0                 ($105,850)              ($105,850)             ($105,850)             ($105,850)             ($105,850)
                                                             Operator (16) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                   $0                    ($52,200)             ($104,400)             ($105,850)             ($105,850)               ($105,850)              ($105,850)              ($84,680)              ($338,720)             ($338,720)             ($338,720)             ($338,720)
                                                             Laborer (8) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                     $0                       $0                     $0                     $0                     $0                       $0                      $0                     $0                  ($127,020)             ($127,020)             ($127,020)             ($127,020)
                                                             Mechanic (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                    $0                     ($4,350)               ($8,700)               ($8,821)               ($8,821)                 ($8,821)                ($8,821)               ($8,821)                ($8,821)               ($8,821)               ($8,821)               ($8,821)
                                                             Electrician (1) - Burdened (45%) $/hr esc.@ CPI (2080 hr/yr basis)                 $0                       $0                     $0                     $0                     $0                       $0                      $0                     $0                    ($8,821)               ($8,821)               ($8,821)               ($8,821)
                                                             Plant Manager @ burdened (45%) $/hr esc.                                           $0                    ($11,310)              ($22,620)              ($22,934)              ($22,934)                ($22,934)               ($22,934)              ($22,934)               ($22,934)              ($22,934)              ($22,934)              ($22,934)
                                                             Clerk @ burdened (45%) $/hr esc.                                                   $0                     ($3,480)               ($6,960)               ($7,057)               ($7,057)                 ($7,057)                ($7,057)               ($7,057)                ($7,057)               ($7,057)               ($7,057)               ($7,057)
                                                             Engineer @ burdened (45%) $/hr esc.                                                $0                       $0                     $0                     $0                     $0                       $0                      $0                  ($21,170)               ($21,170)              ($21,170)              ($21,170)              ($21,170)
                                                             Technician @ burdened (45%) $/hr esc.                                              $0                       $0                     $0                     $0                     $0                       $0                      $0                   ($8,821)                ($8,821)               ($8,821)               ($8,821)               ($8,821)
                                                             Direct Maintenance (ex direct labor) $/unit availability hour, esc                 $0                   ($100,000)             ($100,000)             ($100,000)             ($100,000)               ($100,000)              ($100,000)             ($100,000)              ($100,000)             ($100,000)             ($100,000)             ($100,000)
                                                             Direct Accounting Svcs $/yr esc                                                  ($8,333)                 ($8,333)               ($8,333)               ($8,333)               ($8,333)                 ($8,333)                ($8,333)               ($8,333)                ($8,333)               ($8,333)               ($8,333)               ($8,333)
                                                             G&A $/mo esc                                                                    ($225,000)              ($225,000)             ($225,000)             ($225,000)             ($225,000)               ($225,000)              ($225,000)             ($225,000)              ($225,000)             ($225,000)             ($225,000)             ($225,000)
                                                             Logistics in the trucking daily                                                                                                                                                                                                                                                ($7,917)               ($7,917)               ($7,917)               ($7,917)
                                                             Containers to 5 daily@1000 per/100tnpd
                                                             Overhead/Indirects $/mo esc                                                      ($16,667)               ($16,667)               ($16,667)              ($16,667)              ($16,667)                ($16,667)              ($16,667)              ($16,667)               ($16,667)              ($16,667)              ($16,667)              ($16,667)
                                                             Product Testing (Process QC, Envir, Acceptance)                                     $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                   ($50,000)              ($20,000)              ($20,000)              ($20,000)
                                                             Annual Project Insurance                                                        ($166,667)              ($166,667)              ($166,667)             ($166,667)             ($166,667)               ($166,667)             ($166,667)             ($166,667)              ($166,667)             ($166,667)             ($166,667)             ($166,667)
                                                             Nat Gas (5100 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                         $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                             Nat Gas (106000 SCFH) @ $/1000 CF [Industrial Price Dec 2009]                       $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                              Port Lease                                                                         $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                              Port Cargo Fees                                                                    $0                  ($168,469)              ($168,469)             ($168,469)             ($168,469)               ($168,469)             ($168,469)             ($168,469)              ($168,469)             ($168,469)             ($168,469)             ($168,469)
                                                              Port Lease / Cargo Fees TBD                                                        $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                             Tangible Personal Property Tax (est for tire pyro eqpt)                             $0                      $0                      $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                             Other                                                                           ($208,333)              ($208,333)              ($208,333)             ($208,333)             ($208,333)               ($208,333)             ($208,333)             ($208,333)              ($208,333)             ($208,333)             ($208,333)             ($208,333)
                                                      Total Operating and Related Costs                                                      ($625,000)              ($964,809)             ($1,036,149)           ($1,038,131)           ($1,038,131)             ($1,038,131)           ($1,038,131)           ($1,152,802)            ($1,600,599)           ($1,570,599)           ($1,570,599)           ($1,570,599)

                                                      Tire & Other Materials Input
                                                             Tire Input from (tires/mo)                                                        300,000                 300,000                300,000                300,000                300,000                  300,000                300,000                300,000                 300,000                300,000                300,000                300,000
                                                             Tip fee for Tire Input ($/tire)                                                    $0.40                   $0.40                  $0.40                  $0.40                  $0.40                    $0.40                  $0.40                  $0.40                   $0.40                  $0.40                  $0.40                  $0.40
                                                             Revenue from Tires                                                          $          120,000      $          120,000     $          120,000     $          120,000     $          120,000       $          120,000     $          120,000     $          120,000      $          120,000     $          120,000     $          120,000     $          120,000
                                                             Tire Input from Other (tires/mo)                                                     0                       0                      0                      0                      0                        0                      0                      0                       0                      0                      0                      0
                                                             Tip fee for Other Tire Input ($/tire)                                              $0.00                   $0.00                 $0.00                   $0.00                  $0.00                    $0.00                  $0.00                  $0.00                   $0.00                 $0.00                  $0.00                   $0.00
                                                             Revenue from Other                                                          $              -        $              -       $              -       $              -       $              -         $              -       $              -       $              -        $              -       $              -       $              -       $              -
                                                             Total Tires (tires/mo)                                                                 300,000                 300,000                300,000                300,000                300,000                  300,000                300,000                300,000                 300,000                300,000                300,000                300,000
                                                             Total Tire Tip Fee Revenue                                                       $120,000                $120,000               $120,000               $120,000               $120,000                 $120,000               $120,000               $120,000                $120,000               $120,000               $120,000               $120,000
                                                             MSW Input (tons/day)                                                                 0                       0                    1,000                  1,000                  1,000                    1,000                  1,000                  1,000                   1,000                  1,000                  1,000                  1,000
                                                             MSW Tip Fee ($/ton)                                                               $25.00                  $25.00                 $25.00                 $25.00                 $25.00                   $25.00                 $25.00                 $25.00                  $25.00                 $25.00                 $25.00                 $25.00
                                                             MSW Input (tons/mo)                                                                  0                    15,000                 30,000                 30,417                 30,417                   30,417                 30,417                 30,417                  30,417                 30,417                 30,417                 30,417
                                                             MSW Revenue                                                                 $              -        $          375,000     $          750,000     $          760,417     $          760,417       $          760,417     $          760,417     $          760,417      $          760,417     $          760,417     $          760,417     $          760,417
                                                      Total Tip Fee Revenue ($/yr)                                                       $          120,000      $          495,000     $          870,000     $          880,417     $          880,417       $          880,417     $          880,417     $          880,417      $          880,417     $          880,417     $          880,417     $          880,417

                                                      Production & Sales
                                                              Base year escalator at CPI                                                        0.0%                    0.0%                   0.0%                   0.0%                   0.0%                     0.0%                   0.0%                   0.0%                    0.0%                   0.0%                   0.0%                   0.0%
                                                              Oil production rate (lb/mo at assumed % yield from Pyro Unit)                       0                       0                      0                      0                      0                        0                      0                      0                       0                      0                      0                      0
                                                              Oil production rate (gal/mo at assumed oil density of 8.303 lb/gal)                 0                       0                      0                      0                      0                        0                      0                      0                       0                      0                      0                      0
                                                              Crude Oil Price $/gal, esc                                                       $80.00                  $80.00                 $80.00                 $80.00                 $80.00                   $80.00                 $80.00                 $80.00                  $80.00                 $80.00                 $80.00                 $80.00
                                                              Net Oil Sales Price ($/gal) (based on $/bbl crude oil @42 gal/bbl)                $1.90                  $1.90                   $1.90                  $1.90                 $1.90                     $1.90                 $1.90                  $1.90                    $1.90                  $1.90                  $1.90                  $1.90
                                                              Gross Oil Sales                                                                    $0                      $0                     $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0

                                                             Char production rate (ton/100 ton tires)                                            0.0                     0.0                    0.0                    0.0                    0.0                      0.0                    0.0                    0.0                     0.0                    0.0                    0.0                    0.0
                                                             Char production (ton)                                                                0                       0                      0                      0                      0                        0                      0                      0                       0                      0                      0                      0
                                                         Net Char Sales Price ($/ton) esc                                                      $700.00                 $700.00                $700.00                $700.00                $700.00                  $700.00                $700.00                $700.00                 $700.00                $700.00                $700.00                $700.00
                                                             Gross Char Annual Sales                                                             $0                      $0                     $0                     $0                     $0                       $0                     $0                     $0                      $0                     $0                     $0                     $0

                                                             Steel production rate (lb/tire)                                                     3.0                     3.0                    3.0                    3.0                    3.0                      3.0                    3.0                    3.0                     3.0                    3.0                    3.0                    3.0
                                                             Steel production (ton)                                                               0                      450                    450                    450                    450                      450                    450                    450                     450                    450                    450                    450
                                                         Net Steel Sales Price ($/ton) esc                                                     $200.00                 $200.00                $200.00                $200.00                $200.00                  $200.00                $200.00                $200.00                 $200.00                $200.00                $200.00                $200.00
                                                             Gross Steel Annual Sales                                                            $0                    $90,000                $90,000                $90,000                $90,000                  $90,000                $90,000                $90,000                 $90,000                $90,000                $90,000                $90,000

                                                             Electrical Generating Capacity (MW)
                                                             Electricity production (h/yr at 90% Capacity Factor)                                 0                      324                    648                    657                    657                      657                    657                    657                     657                    657                    657                    657
                                                             Electricity production (kWh/yr)                                                      0                   9,720,000             19,440,000             19,710,000             19,710,000               19,710,000             39,420,000             39,420,000              39,420,000             39,420,000             39,420,000             39,420,000
                                                             Annual Electricity sales rate ($/kWh), esc.                                       $0.150                   $0.150                $0.150                 $0.150                 $0.150                   $0.150                 $0.150                 $0.150                  $0.150                 $0.150                 $0.150                 $0.150
                                                             Gross Electricity revenues (at $/kWh)                                               $0                  $1,458,000             $2,916,000             $2,956,500             $2,956,500               $2,956,500             $5,913,000             $5,913,000              $5,913,000             $5,913,000             $5,913,000             $5,913,000
                                                      Total Gross Product Sales ($/yr)                                                           $0                  $1,548,000             $3,006,000             $3,046,500             $3,046,500               $3,046,500             $6,003,000             $6,003,000              $6,003,000             $6,003,000             $6,003,000             $6,003,000

                                                      Capitalization Loan to support Operations                                                  $0                      $0                     $0                     $0                      $0                      $0                     $0                     $0                      $0                     $0                     $0                     $0
                                                      Total Revenues (Tip Fee & Sales & Capitalization)                                       $120,000               $2,043,000             $3,876,000             $3,926,917             $3,926,917               $3,926,917             $6,883,417             $6,883,417              $6,883,417             $6,883,417             $6,883,417             $6,883,417


                                                      Net Cash Flow                                                                           ($505,000)              $1,078,191            $2,839,851             $2,888,786             $2,888,786               $2,888,786              $5,845,286             $5,730,615              $5,282,818             $5,312,818             $5,312,818             $5,312,818
                                                      Cum Net Cash Flow                                                                      ($4,630,000)            ($3,551,809)            ($711,958)            $2,176,828             $5,065,613               $7,954,399             $13,799,685            $19,530,300             $24,813,118            $30,125,935            $35,438,753            $40,751,570




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                                                                                                                                                                                              Printdate: 10/27/2011
                                                                                                                                                                                                                               Page 10 of 14
Tab: (2) Yr D1&D2 Proforma Detail                                                                                                                                                                                                                                                                                                                                                                                                      Time: 10:08 PM
Proprietary & Confidential

Echo Energy
Converting Waste to Energy
Caribean, 60MWe, preliminary costs & estimated delivery time for
finance milestones
Tab Date:   July 4, 2010
                                                                         Week #    0      2          4       6           8       10         12      14         16      18          20      22          24     26          28      30         32      34         36      38          40       42         44       46         48       50          52       54          56       58          60       62          64       66          68       70          72      74          76       78          80       82          84       86         88       90         92       94         96
                                                     ESTIMATED      ESTIMATED
                             DESCRIPTION
  ITEM #                                             COST $MM        DELIVERY     8/1    8/15       8/29    9/12        9/26    10/10 10/24        11/7       11/21   12/5        12/19    1/2        1/16   1/30        2/13    2/27       3/13    3/27       4/10    4/24         5/8     5/22        6/5     6/19        7/3     7/17        7/31     8/14        8/28     9/11        9/25     10/9        10/23    11/6        11/20    12/4        12/18    1/1        1/15     1/29        2/12     2/26        3/11     3/25        4/8     4/22        5/6     5/20        6/3
                        MAJOR EQUIPMENT                                 Month #    0            1                   2                   3                 4                   5                   6                  7                  8                  9                   10                  11                  12                  13                   14                   15                   16                   17                   18                  19                   20                   21                   22                  23                  24           ck
     1      GASIFIER SYSTEMS                               24.00     28 weeks             7.20                                                                         7.20                                                                                                                                                                                                                                               7.20                                                                                                                        2.40                                   0.00
     2      BOILER-HRSG-ECONOMIZERS                        11.00     39 weeks             3.30                                                                         3.30                                                                                                                                                                                                                                               3.30                                                                                                                        1.10                                   0.00
     3      WET ELECTROSTATIC PRECIPITATOR                 11.60     20 weeks                                                                                          3.48                                               3.48                                                                                                                                                                                            3.48                                                                                                                        1.16                                   0.00
     4      ID FANS - STACKS                                1.40     20 weeks                                                                                          0.42                                               0.42                                                                                                                                                                                            0.42                                                                                                                        0.14                                   0.00
     5      ASH - CHAR CONVEYANCE & STORAGE                 1.40     20 weeks                                                                                          0.42                                               0.42                                                                                                                                                                                            0.42                                                                                                                        0.14                                   0.00
     6      GREYWATER TREATMENT SYSTEM                      1.45     26 weeks                                                                                  0.44                                           0.44                                                                                                                                                                                                        0.44                                                                                                                        0.15                                   0.00
     7      BOILER WATER TREATMENT SYSTEM                   1.70     30 weeks                                                                       0.51                                              0.51                                                                                                                                                                                                                0.51                                                                                                                        0.17                                   0.00
     8      TURBINES - GENERATORS                          28.50     42 weeks             8.55                                                                                                                8.55                                                                                                                                                                                                        8.55                                                                                                                        2.85                                   0.00
     9      CONDENSERS - CHILLER SYSTEM                    11.20     38 weeks             3.36                                                                                                                3.36                                                                                                                                                                                                        3.36                                                                                                                        1.12                                   0.00
    10      MOTOR CONTROL SYSTEM                            2.25     28 weeks                                                                                                       0.68                                                             0.68                                                                                                                                                                 0.68                                                                                                                        0.23                                   0.00
    11      SWITCHGEAR - INTERCONNECT                       1.30     28 weeks                                                                                                       0.39                                                             0.39                                                                                                                                                                 0.39                                                                                                                        0.13                                   0.00
    12      FUEL HANDLING/SORTING/SHREDDING                 6.85     28 weeks                                                                                                       2.06                                                             2.06                                                                                                                                                                 2.06                                                                                                                        0.69                                   0.00
    13      AIR COMPRESSORS - DRYERS                        1.40     28 weeks                                                                                                       0.42                                                             0.42                                                                                                                                                                 0.42                                                                                                                        0.14                                   0.00
    14      FIRE SPRINKLER SYSTEM                           1.90     39 weeks             0.57                                                      0.57                                                                                     0.57                                                        0.19                                                                                                                                                                                                                                                                                0.00
    15      BUILDING (DOMED)                                4.75     39 weeks             1.43                                                      1.43                                                                                     1.43                                                        0.48                                                                                                                                                                                                                                                                                0.00
                                             TOTAL        110.70                  0.00   24.41       0.00    0.00        0.00    0.00       0.00    2.51       0.44   14.82         3.54   0.00       0.51   12.35        4.32   0.00        2.00    3.54       0.00    0.00         0.00     0.00       0.67     0.00       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00    31.22        0.00     0.00        0.00    0.00        0.00     0.00        0.00     0.00        0.00     0.00       0.00    10.41       0.00     0.00       0.00    0.00
                                LABOR
    16      CIVIL DESIGN & PERMITTING                       0.50     12weeks              0.15                           0.15                                          0.15                0.05                                                                                                                                                                                                                                                                                                                                                                                              0.00
    17      CONCRETE MATERIAL & INSTALLATION                2.75     12 weeks                                                                       0.83               0.83                0.83               0.28                                                                                                                                                                                                                                                                                                                                                                           0.00
    18      PIPING DESIGN & INSTALLATION                    8.60     48 weeks                                                                                                       2.58                                                             2.58                                                                                                                                                                 2.58                             0.86                                                                                                                              0.00
    19      ELECTRICAL DESIGN & INSTALLATION                7.20     48 weeks                                                                                                       2.16                                                             2.16                                                                                                                                                                 2.16                             0.72                                                                                                                              0.00
    20      INSULATION MATERIAL & INSTALLATION              3.60     48 weeks                                                                                                       1.08                                                             1.08                                                                                                                                                                 1.08                             0.36                                                                                                                              0.00
    21      MECHANICAL DESIGN & INSTALLATION                9.50     52weeks                                                                                                        2.85                                                             2.85                                                                                                                                                                                                          2.85                             0.95                                                                                     0.00
                                        TOTAL              32.15                  0.00    0.15       0.00    0.00        0.15    0.00       0.00    0.83       0.00    0.98         8.67   0.88       0.00    0.28        0.00   0.00        0.00    8.67       0.00    0.00         0.00     0.00       0.00     0.00       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00     5.82        0.00     0.00        1.94    2.85        0.00     0.00        0.95     0.00        0.00     0.00       0.00     0.00       0.00     0.00       0.00    0.00
                               RENTAL
    22      CRANES                                          1.50                                                                                                                                                                 0.45                                                                             0.45                                                                               0.45                                                                                           0.15                                                                                     0.00
    23      ROLLING STOCK                                   1.30                                                                                                                                                                 0.39                                                                             0.39                                                                               0.39                                                                                           0.13                                                                                     0.00
    24      SHELTERS - OFFICE- SANITARY                     0.45                                                                                                                                                                 0.14                                                                             0.14                                                                               0.14                                                                                           0.05                                                                                     0.00
                                             TOTAL          3.25                  0.00    0.00       0.00    0.00        0.00    0.00       0.00    0.00       0.00    0.00         0.00   0.00       0.00    0.00        0.00   0.98        0.00    0.00       0.00    0.00         0.00     0.00       0.00     0.98       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.98        0.00     0.00        0.00     0.00        0.00    0.00        0.00     0.00        0.33     0.00        0.00     0.00       0.00     0.00       0.00     0.00       0.00    0.00
                               FREIGHT
    25      EQUIPMENT                                       3.50                                                                                                                    1.05                                  1.05                                                                                    1.05                                                                               0.35                                                                                                                                                                                    0.00
                                             TOTAL          3.50                  0.00    0.00       0.00    0.00        0.00    0.00       0.00    0.00       0.00    0.00         1.05   0.00       0.00    0.00        1.05   0.00        0.00    0.00       0.00    0.00         0.00     0.00       0.00     1.05       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.35        0.00     0.00        0.00     0.00        0.00    0.00        0.00     0.00        0.00     0.00        0.00     0.00       0.00     0.00       0.00     0.00       0.00    0.00
                   STARTUP - COMMISSIONING
    26      VENDOR TRAINING - O&M 1YEAR                     3.20                                                                                                                                                                                                                     1.92     0.96       0.32                                                                                                                                                                                                                                                                                0.00
                                             TOTAL          3.20                  0.00    0.00       0.00    0.00        0.00    0.00       0.00    0.00       0.00    0.00         0.00   0.00       0.00    0.00        0.00   0.00        0.00    0.00       0.00    0.00         1.92     0.96       0.32     0.00       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00    0.00        0.00     0.00        0.00     0.00        0.00     0.00       0.00     0.00       0.00     0.00       0.00    0.00
                           EPC COSTS, FEES
    27      CONTINGENCY - ESCALATION COSTS                  0.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             0.00
    28      EPC COSTS AND FEES                             18.00                                                                                    5.40                                                                                                                                                          5.40                                                                                                                          5.4                                                                               1.80                                                       0.00
                                             TOTAL         18.00                  0.00    0.00       0.00    0.00        0.00    0.00       0.00    5.40       0.00    0.00         0.00   0.00       0.00    0.00        0.00   0.00        0.00    0.00       0.00    0.00         0.00     0.00       0.00     5.40       0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00     0.00        0.00     5.40        0.00    0.00        0.00     0.00        0.00     0.00        0.00     1.80       0.00     0.00       0.00     0.00       0.00    0.00
    29           ESTIMATED COST TOTAL, $MM               170.80                   0.00 24.56 0.00 0.00 0.15 0.00 0.00                              8.73 0.44 15.80 13.26 0.88 0.51 12.62 5.37 0.98 2.00 12.21 0.00                                                     0.00     1.92         0.96    0.99        7.43    0.00        0.00    0.00         0.00    0.00         0.00    0.00         1.33    0.00        37.04     0.00        5.40    1.94        2.85    0.00         0.00    1.28         0.00    0.00         1.80    0.00       10.41     0.00       0.00    0.00        0.00
                                                                 TOTAL MONTHLY    0.00    24.56      0.15      0.00                                   9.17       29.06      1.39       17.99     2.97      12.21                                                           1.92                 1.95                7.43                0.00                 0.00                 0.00                 1.33                 37.04                7.34                2.85                 1.28                 0.00                 1.80                10.41               0.00
                                 START
                              30% PAID OUT
                              60% PAID OUT
                              90% PAID OUT
                             100% PAID OUT
Equipment List for Caribean Project
Tab Date:                                                       July 3, 2010
                                                                                         Lease Markup:         1.25
PHASE 1 -- Gasification and Power Production (60 MW)
                                                                                                          Lease Ea
                    Unit Operation                                  Spec                 Base $ Ea          $/Mo      Total Base $   Shipping $   (2)       Install $       (2)                        Comments                                Sources
1. Feedstock Handling (PoPB)                                                                                    -               -           -      √                    -    √
   Grinders (2)                                                                                                                                                                                                                      Bruce
   Conveyors                                             Est 300'                                                                                                                 Outdoor will be enclosed
   Day Hoppers (4)                                       Est 20'H x 10'Dia
   Truck Scale                                           Bridge                                                                                                                                                                      Bruce
   Controls                                                                                                                                                                       Automation to feed silos, hoppers and pyor units
   Outdoor Silos (3)                                     Est 40'H x 25'Dia                                                                                                        Place adjacent to W-12 on S Side
   Bobcats (2)                                           Lease                                                                                                                    Do we need if all conveyor system is used?

2. Feedstock Handling (FCP)                              SEE SHEET (3)                                          -               -           -      √                    -   √
   Grinders (2)
   Conveyors                                             Est 300'
   Day Hoppers (4)                                       Est 20'H x 10'Dia
   Truck Scale                                           Bridge
   Controls
   Outdoor Silos (3)                                     Est 40'H x 25'Dia
   Bobcats (2)                                           Lease

3. Gasification Units                                    SEE SHEET (3)                                          -               -           -                           -         10-yr lease
    Design, supply, and delivery of:                                                                                                               √                        √                                                        ICM
    Four (4) gasifier units
       • Feed stock conveyors - weigh belt, bucket
       elevator, & feed screw
       • Ash discharge conveyor and weigh belt (to a
       point approximately 20’ from the gasifier)
       • Exhaust duct w/ supports (to a point
       approximately 20’ from the gasifier)
       • Air control equipment and piping required for
       operations - blower, manifold, & supports
       • Cooling equipment required for operations -
       tank, pumps, & heat exchanger
       • Automation controls - instruments, control
       valves, air compressor, & control equipment
       Other items included:
       • Programming for automation controls
       • Freight to Port of
       • One (1) year limited warranty
    Gas Cleanup System ()                                                                                                                          √                        √                                                        EPA doc
                                                                                       Gas. Sys. Lease:
4. Steam Turbine Gensets (18MW ea)                       SEE SHEET (3)                                          -               -           -      √                    -   √
    Four (4) Drescher-Rand Steam Turbine Gensets                                                                                                                                                                                     Solar Turbines
    Four HRSGs (Victory)
    Desalination/Demineralization                                                                                                                                                                                                    Elliott or Drescher Rand
    Interconnection/Substation                           Sized for 60MW output

5. Char & Steel Handling                                                                                      1,458        140,000       12,000    √              30,000    √     Assume inside biulding
   Conveyors                                             Est 100' Enclosed         $            50,000                $     50,000   $    5,000         $         10,000
   Mag Separator                                         Est 1500 lb/hr steel      $            20,000                $     20,000   $    1,000         $          5,000
   Emission Control                                                                $            20,000                $     20,000   $    1,000         $          5,000          Integral w/bagger
   Bagger                                                1 ton sealed sacks        $            50,000                $     50,000   $    5,000         $         10,000
   Forklift                                              Lease                                            $   2,000                                                               To move char bags & steel containers
   Bins for Steel (4)                                    Lease                                            $   2,000

6. Site Prep                                             SEE SHEET (3)                                                          -           -                           -
   Site Civil Prep                                                                                                                                                          √
   Retention Pond                                                                                                                                                           √
   Buildings                                             Metal, hurricane rated                                                                                             √
   Utilities                                                                                                                                                                √
   Piping System                                         Gas                                                                                       √                        √

7. General                                                                                                                  37,000        2,200    √               4,000    √
    Office Equipment & Furniture                         Copier, fax, etc.         $             5,000                $      5,000   $      500         $          1,000          Should source as used
    Office Supplies                                                                $             2,000                $      2,000   $      200                                   Initial expendables stock
    Computer Eqpt                                        Est 3 PCs & peripherals   $            10,000                $     10,000   $      500         $          1,000          Assume 3 PCs, SW, printers, network, etc
    Maintenance Eqpt & Supplies                                                    $            10,000                $     10,000   $      500         $          1,000
    Safety Eqpt & Supplies                                                         $            10,000                $     10,000   $      500         $          1,000

8. Vehicles                                              General purpose                                              $    200,000   $   10,000    √                    -

                                     PHASE 1 COSTS:                                                           3,927        377,000       24,200                   34,000




Filename: 57b6b730-ca1e-405c-b814-c3c0090d83e7.xlsx                                                                                                                                                                                                             Printdate: 10/27/2011
Tab: (4) Anc Eqpt EPC                                                                                                                             Page 12 of 14                                                                                                       Time: 10:08 PM
With the conclusion of a $2.5 billion loan agreement for the Baha Mar project said to be imminent last night, Tribune Business can reveal that another Chinese-
led investor group is eyeing a multi-million dollar resort project for Grand Bahama, complete with potential cruise port.
Informed sources with knowledge of developments said the Cylin Group, whose principals include the daughter of the People's Republic of China's defense
minister, was looking at a major tourism development on 2,000 acres of land in the Sharp Rock area.
It is understood that a major component of the Cylin Group is Beijing Construction Company, which would likely to be the project's general
contractor/management supervisor.
Tribune Business has been able to uncover few precise details on the project, which are being kept a closely-guarded secret. However, it is understood that a
cruise port and marina are two components of the Cylin plan, with the development proposed for land owned by the Grand Bahama Development Company
(Devco) and Port Group Ltd. The latter is the Grand Bahama Port Authority's (GBPA) affiliate.
Some 1,500 of the 2,000 acres involved is said to be owned by Devco, the 50/50 joint venture between Port Group Ltd and Hutchison Whampoa. The latter, of
course, is Hong Kong-based, meaning it is likely to have close relations with the Cylin Group and its principals.
The Cylin Group would be a 'replacement of sorts' for the Beka Development project that was formerly slated for eastern Grand Bahama, but was unable to
attract the necessary financing and other support to bring it to fruition.
With Chinese support, especially from the Beijing government and its related entities, financing for the Cylin project - if approved - is unlikely to be a problem.
The Bahamas remains an attractive destination for Chinese investment, with Beijing keen to put its excess foreign currency reserves and unemployed labour to
good use, especially since this nation is located near the eastern US seaboard and has a strong Chinese presence already through Hutchison Whampoa.
Tribune Business sources said the Cylin project had been placed on the Cabinet agenda by Prime Minister Hubert Ingraham's government, but it is unknown
whether any detailed discussions have ensued.
With Hutchison Whampoa's backing, the Cylin Group project is likely to gain some traction, especially with the Prime Minister and his government seeking to
get Grand Bahama's economy moving once again after six years of depression.
Mr Ingraham is thought to be keen for some good news that will benefit his government in the wake of the Elizabeth by-election defeat, and Grand Bahama - a
hot-bed of FNM support - is once again becoming a priority for him.
Tribune Business also understands that the proposed $100 million new cruise port for Grand Bahama, planned as a joint venture between the Government,
Hutchison Whampoa and Carnival, is also back near the top of the Prime Minister and government's agenda.
As Tribune Business went to press last night, Baha Mar had called a press conference at its Sheraton Nassau Beach Resort, presumably to make a major
announcement. As at 7.30pm, reporters were waiting for the appearance of key Baha Mar executives.
Tribune Business revealed yesterday how Baha Mar could finalise a $2.5 billion loan agreement with its Chinese partners for the Cable Beach redevelopment
"within the next week", with the developer also moving to conclude talks with Scotiabank on its original $170 million syndicated loan.
"The negotiations are continuing, and it could happen in the next week; within a week or so," one source familiar with the situation told Tribune Business of the
loan agreement.
From its own estimates, Baha Mar is expected to generate $740 million or 10 per cent of the Bahamas' per annum gross domestic product (GDP); some $880
million in spending and direct taxes into the economy during its first operational year; and $6.2 billion in government taxes over 25 years.
Some 8,500 full-time jobs would be created once Baha Mar began full operations, with the project bringing an extra 400,000 tourists to the Bahamas annually.
* The Bahamas last night confirmed it had signed its 20th Tax Information Exchange Agreement (TIEA), this time with Australia. Some 14 of its TIEAs are now
with OECD member states, and seven with G-20 members.
 that another Chinese-

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 unemployed labour to
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