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					                                           Rocket Science Pty Ltd
                                             Assumptions

Assumptions                                                          2001     2002     2003       All
                                 Min         Mean       Max
General Assumptions
Prime Interest Rate                  85%       100%      123%                                  6.50%
Interest Payable on Convertible Notes                                                          9.50%
Interest Receivable on Cash Balances                                                           4.50%

Sales Assumptions
Sales Mix
Powder - %                                                            65%      58%      50%     50%
Pieces - %                                                            35%      42%      50%     50%

Prices ($/kg)                                                        2001     2002     2003     2004
Powder                                                               3.25     3.00     2.75     2.75
Pieces                                                               4.25     4.00     3.75     3.75
Average Price per kg               80%         100%      105%        3.60     3.42     3.25     3.25
Primary Processing
                                                                     2001     2002     2003
Losses and Wastage                                                   2.5%     1.5%     1.0%

Supply/Weather Factor                                                 85%      85%      85%

Processing Efficiencies                                                M1       M2       M3      M4
Year 1                                                                60%      70%      75%     80%
Year 2                             85%         100%      110%         75%      85%      90%     95%
Year 3                                                                80%      90%      95%     95%

Conversion Factor                                                    2001     2002     2003     2004
Product % moisture                                                   5.0%     5.0%     5.0%     5.0%
Onions % solids                                                     20.0%    20.5%    21.0%    21.0%
Expected Conversion                90%         100%      105%         4.75     4.63     4.52     4.52

Capacity (kg product/hr)                                              500      500      500

Production Unit Costs
Raw Materials - $/tonne                                             180.00   180.00   180.00
RM Freight In - $/tonne                                               2.50     5.00     7.50
Boiler Fuel - $/ operating hr                                        44.71    44.71    44.71
Electricity - $/operating hr                                         11.10    11.10    11.10
Water usage - ML/drier day                                            0.24     0.24     0.24
Water cost - $/MLitre                                                 400      400       400
Water usage - $/day                                                  96.00    96.00    96.00
Consumables - $/t product                                            10.06    10.06    10.06
Primary Direct Labour
Base Rate - $/hr                                                     15.00    15.00    15.00
Superannuation %                                                    9.00%    9.00%    9.00%
Workers' Comp Ins %                                                 5.77%    5.77%    5.77%
Persons per shift                                                        2        2        2
Cleandown time - %                                                  10.0%    10.0%    10.0%
Total Direct Labour/op hr                                            37.87    37.87    37.87




                                               Page 1 of 51
                                         Rocket Science Pty Ltd
                                           Assumptions

Assumptions                                                       2001   2002   2003   All
                                 Min       Mean       Max
Secondary Processing
Powder Costs - $/kg
Labour                                                            0.07   0.07   0.07
Packaging                                                         0.05   0.05   0.05
QA                                                                0.08   0.08   0.08
Freight to Customer                                               0.07   0.07   0.07
Total                                                             0.27   0.27   0.27

Pieces Costs - $/kg
Labour                                                            0.29   0.29   0.29
Packaging                                                         0.11   0.11   0.11
QA                                                                0.06   0.06   0.06
Freight to Customer                                               0.05   0.05   0.05
Total                                                             0.51   0.51   0.51

Average Production Cost - $/kg
Labour                                                            0.15   0.16   0.18
Packaging                                                         0.07   0.08   0.08
QA                                                                0.07   0.07   0.07
Freight to Customer                                               0.06   0.06   0.06
Total                                                             0.35   0.37   0.39




Major Risk Factors
                                 Min       Mean       Max
Capex                              95%      100%       115%
Prime Interest Rate                85%      100%       123%
Average Price - Yrs 3 &4           80%      100%       105%
Processing Efficiencies            85%      100%       110%
Conversion Factor                  90%      100%       105%




                                             Page 2 of 51
Owner's Assets                         Original     Apr '00
Land                                      Cost       Value
Land                                  $20,000      $51,000
Processing Equipment
Bulk Bins                              $13,812      $4,351
Dehydrator - old                     $285,257     $250,000
Forklift                                $1,317        $410
Grading Equipment                      $14,061      $4,430
Hammermill                              $2,800        $825
Packaging Line                          $3,295      $1,027
Ribbon Blender                          $3,708        $362
Scales                                    $750        $500
Total Processing Equipment            $325,001    $261,905
Ofice Equipment
Existing Office Equipment              $18,315      $9,560
Vehicles
Existing Vehicles                      $36,900     $14,500
Total Owner's Assets                  $400,216    $336,965


New Assets
Land
New Access Road                       $35,000
Buildings
New Building                         $700,000
Improvements
Fire service                          $50,000
Water and storm water                  $7,000
Trade waste                           $30,000
Electricity connection               $116,000
Electrical installation               $57,000
Total Improvements                   $260,000
Boiler and Services
Boiler, including installation       $250,000
Water and compressed air              $35,000
Total Boiler                         $285,000
New Processing Equipment
Refurbish Drier                      $982,456
New ductwork and stack                 $43,219
Refurbish 2ndary processing (est)      $27,500
Total New Processing Equipment      $1,053,175
Vehicles
New Vehicles                          $40,000

Total New Assets                    $2,373,175
Assets Summary ($'000)
                             New    Existing     Total     Deprec'n
                           Capex     Assets     Assets      Rate (%)
Land                         35.0       51.0      86.0     0%
Buildings                   700.0                700.0     4%
Improvements                260.0                260.0     10%
Processing Equipment       1338.2     261.9     1600.1     20%
Office Equipment                        9.6        9.6     40%
Vehicles                     40.0      14.5       54.5    22.5%
Total Assets               2373.2     337.0     2710.1

Repairs & Maintenance Schedule
                            Total      R&M        R&M
                           Assets      Rate    $'000 pa
Buildings                   700.0      2.0%        14.0
Improvements                260.0      4.0%        10.4
Boiler                      285.0     15.0%        42.8
Processing Equipment       1315.1     10.0%       131.5
Office Equipment              9.6      5.0%         0.5
Vehicles                     54.5      7.5%         4.1
Total Annual R&M           2624.1                 203.2
                                                       Rocket Science Pty Ltd
                                                       Assets and Loans



Year Ending December:   2000   Jan   Feb   Mar   Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Asset Values ($'000)
Capital Expenditure
Capex Risk Factor       100%

Land                      35                                35                                                              35
Buildings                700                               175      175         175    175                                 700
Improvements             260                                65       65          65     65                                 260
Processing Equipment    1338                                        335                335           335           335    1338
Office Equipment           0                                                                                                 0
Vehicles                  40                                                                          20            20      40
Total CapEx             2373     0     0     0     0       275      575         240    575      0    355      0    355    2373

Depreciation
Land                                                                                                                         0
Buildings                                                                                                                    0
Improvements                                                                                                                 0
Processing Equipment                                                                                                         0
Office Equipment                                                                                                             0
Vehicles                                                                                                                     0
Total Depreciation                                                                                                           0

Asset Register
Land                      51    51    51    51    51        86       86       86        86     86     86     86     86
Buildings                  0     0     0     0     0       175      350      525       700    700    700    700    700
Improvements               0     0     0     0     0        65      130      195       260    260    260    260    260
Processing Equipment     262   262   262   262   262       262      596      596       931    931   1266   1266   1600
Office Equipment          10    10    10    10    10        10       10       10        10     10     10     10     10
Vehicles                  15    15    15    15    15        15       15       15        15     15     35     35     55
Total Assets             337   337   337   337   337       612     1187     1427      2001   2001   2356   2356   2710




                                                           Page 5 of 51
                                                               Rocket Science Pty Ltd
                                                               Assets and Loans



Year Ending December:        2000   Jan   Feb      Mar   Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Debt Funding ($'000)
Sources of Debt Funding
Land                         75%                                    65        0           0      0      0      0      0      0      65
Buildings                    67%                                   117      117         117    117      0      0      0      0     469
Improvements                 67%                                    44       44          44     44      0      0      0      0     174
Processing Equipment         60%                                     0      358           0    201      0    201      0    201     960
Office Equipment            100%                                     0        0           0      0      0      0      0      0       0
Vehicles                    100%                                     0        0           0      0      0     20      0     20      40
Total Debt Funding                    0      0       0    0        225      519         161    362      0    221      0    221    1708
Payment of Interest
                        Margin Prime Rate:       6.50%
Period
Land                        1.50%
Buildings                   2.25%
Improvements                2.25%
Processing Equipment        2.75%
Office Equipment            3.00%
Vehicles                    3.50%
Total Interest                        0      0       0    0          0        0           0      0      0      0      0      0
Repay't of Principal    Term
Land                           25
Buildings                      10
Improvements                   10
Processing Equipment            5
Office Equipment                3
Vehicles                        3
Total Principal Repayment             0      0       0    0          0        0           0      0      0      0      0      0
Debt Balance
Land                                  0      0       0    0         65       65          65     65     65     65     65     65
Buildings                             0      0       0    0        117      235         352    469    469    469    469    469
Improvements                          0      0       0    0         44       87         131    174    174    174    174    174
Processing Equipment                  0      0       0    0          0      358         358    559    559    759    759    960
Office Equipment                      0      0       0    0          0        0           0      0      0      0      0      0
Vehicles                              0      0       0    0          0        0           0      0      0     20     20     40
Total Debt Balance                    0      0       0    0        225      744         905   1266   1266   1487   1487   1708




                                                                   Page 6 of 51
                                                            Rocket Science Pty Ltd
                                                            Assets and Loans



Year Ending December:    2001   Jan    Feb    Mar     Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Asset Values ($'000)
Capital Expenditure
Capex Risk Factor

Land                                                                                                                             0
Buildings                                                                                                                        0
Improvements                                                                                                                     0
Processing Equipment                                                                                                             0
Office Equipment                                                                                                                 0
Vehicles                                                                                                                         0
Total CapEx                        0      0      0      0         0        0          0       0      0      0      0      0      0

Depreciation
Land                     0.0%      0      0      0      0         0        0          0       0      0      0      0      0      0
Buildings                4.0%      2      2      2      2         2        2          2       2      2      2      2      2     28
Improvements            10.0%      2      2      2      2         2        2          2       2      2      2      2      2     26
Processing Equipment    20.0%     27     27     27     27        27       27         27      27     27     27     27     27    320
Office Equipment        40.0%      0      0      0      0         0        0          0       0      0      0      0      0      4
Vehicles                22.5%      1      1      1      1         1        1          1       1      1      1      1      1     12
Total Depreciation                33     33     33     33        33       33         33      33     33     33     33     33    390

Asset Register
Land                              86     86     86     86        86       86       86        86     86     86     86     86
Buildings                        698    695    693    691       688      686      684       681    679    677    674    672
Improvements                     258    256    254    251       249      247      245       243    241    238    236    234
Processing Equipment            1573   1547   1520   1493      1467     1440     1413      1387   1360   1333   1307   1280
Office Equipment                   9      9      9      8         8        8        7         7      7      6      6      6
Vehicles                          53     52     51     50        49       48       47        46     45     44     43     42
Total Assets                    2678   2645   2613   2580      2548     2515     2483      2450   2418   2385   2353   2320




                                                                Page 7 of 51
                                                                  Rocket Science Pty Ltd
                                                                  Assets and Loans



Year Ending December:    2001     Jan     Feb        Mar    Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Debt Funding ($'000)
Sources of Debt Funding
Land                      75%       0          0       0      0         0        0          0       0      0      0      0      0      0
Buildings                 67%       0          0       0      0         0        0          0       0      0      0      0      0      0
Improvements              67%       0          0       0      0         0        0          0       0      0      0      0      0      0
Processing Equipment      60%       0          0       0      0         0        0          0       0      0      0      0      0      0
Office Equipment         100%       0          0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                 100%       0          0       0      0         0        0          0       0      0      0      0      0      0
Total Debt Funding                  0          0       0      0         0        0          0       0      0      0      0      0      0
Payment of Interest
                         Margin Prime Rate:        6.50%
Period                               1         2       3      4         5        6          7       8      9     10     11     12
Land                      1.50%      0         0       0      0         0        0          0       0      0      0      0      0      5
Buildings                 2.25%      3         3       3      3         3        3          3       3      3      3      3      3     40
Improvements              2.25%      1         1       1      1         1        1          1       1      1      1      1      1     15
Processing Equipment      2.75%      7         7       7      7         7        7          7       7      7      6      6      6     82
Office Equipment          3.00%      0         0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                  3.50%      0         0       0      0         0        0          0       0      0      0      0      0      3
Total Interest                      13        13      13     12        12       12         12      12     12     12     12     11    145
Repay't of Principal Term
Land                          25     0         0       0      0         0        0          0       0      0      0      0      0      1
Buildings                     10     2         2       2      3         3        3          3       3      3      3      3      3     31
Improvements                  10     1         1       1      1         1        1          1       1      1      1      1      1     11
Processing Equipment           5    13        13      13     13        13       13         13      13     13     14     14     14    158
Office Equipment               3     0         0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                       3     1         1       1      1         1        1          1       1      1      1      1      1     12
Total Principal Repayment           17        17      17     17        18       18         18      18     18     18     18     19    213
Debt Balance
Land                               64      64         64     64        64       64       64        64     64     64     64     64
Buildings                         467     464        462    459       457      454      451       449    446    444    441    438
Improvements                      173     172        171    171       170      169      168       167    166    165    164    163
Processing Equipment              947     935        922    909       896      883      869       856    843    829    815    802
Office Equipment                    0       0          0      0         0        0        0         0      0      0      0      0
Vehicles                           39      38         37     36        35       34       33        32     31     30     29     28
Total Debt Balance               1691    1674       1656   1639      1621     1604     1586      1568   1550   1531   1513   1494




                                                                      Page 8 of 51
                                                            Rocket Science Pty Ltd
                                                            Assets and Loans



Year Ending December:    2002   Jan    Feb    Mar     Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Asset Values ($'000)
Capital Expenditure
Capex Risk Factor

Land                                                                                                                             0
Buildings                                                                                                                        0
Improvements                                                                                                                     0
Processing Equipment                                                                                                             0
Office Equipment                                                                                                                 0
Vehicles                                                                                                                         0
Total CapEx                        0      0      0      0         0        0          0       0      0      0      0      0      0

Depreciation
Land                     0.0%      0      0      0      0         0        0          0       0      0      0      0      0      0
Buildings                4.0%      2      2      2      2         2        2          2       2      2      2      2      2     27
Improvements            10.0%      2      2      2      2         2        2          2       2      2      2      2      2     23
Processing Equipment    20.0%     21     21     21     21        21       21         21      21     21     21     21     21    256
Office Equipment        40.0%      0      0      0      0         0        0          0       0      0      0      0      0      2
Vehicles                22.5%      1      1      1      1         1        1          1       1      1      1      1      1     10
Total Depreciation                27     27     27     27        27       27         27      27     27     27     27     27    318

Asset Register
Land                              86     86     86     86        86       86       86        86     86     86     86     86
Buildings                        670    668    665    663       661      659      656       654    652    650    647    645
Improvements                     232    230    228    226       224      222      220       218    216    215    213    211
Processing Equipment            1259   1237   1216   1195      1173     1152     1131      1109   1088   1067   1045   1024
Office Equipment                   6      5      5      5         5        5        4         4      4      4      4      3
Vehicles                          41     41     40     39        38       37       37        36     35     34     34     33
Total Assets                    2294   2267   2241   2214      2187     2161     2134      2108   2081   2055   2028   2002




                                                                Page 9 of 51
                                                                  Rocket Science Pty Ltd
                                                                  Assets and Loans



Year Ending December:    2002     Jan     Feb        Mar    Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total
Debt Funding ($'000)
Sources of Debt Funding
Land                      75%       0          0       0      0         0        0          0       0      0      0      0      0      0
Buildings                 67%       0          0       0      0         0        0          0       0      0      0      0      0      0
Improvements              67%       0          0       0      0         0        0          0       0      0      0      0      0      0
Processing Equipment      60%       0          0       0      0         0        0          0       0      0      0      0      0      0
Office Equipment         100%       0          0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                 100%       0          0       0      0         0        0          0       0      0      0      0      0      0
Total Debt Funding                  0          0       0      0         0        0          0       0      0      0      0      0      0
Payment of Interest
                         Margin Prime Rate:        6.50%
Period                              13        14      15     16        17       18         19      20     21     22     23     24
Land                      1.50%      0         0       0      0         0        0          0       0      0      0      0      0      5
Buildings                 2.25%      3         3       3      3         3        3          3       3      3      3      3      3     37
Improvements              2.25%      1         1       1      1         1        1          1       1      1      1      1      1     14
Processing Equipment      2.75%      6         6       6      6         6        6          6       5      5      5      5      5     67
Office Equipment          3.00%      0         0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                  3.50%      0         0       0      0         0        0          0       0      0      0      0      0      2
Total Interest                      11        11      11     11        11       10         10      10     10     10     10     10    125
Repay't of Principal Term
Land                          25     0         0       0      0         0        0          0       0      0      0      0      0      1
Buildings                     10     3         3       3      3         3        3          3       3      3      3      3      3     34
Improvements                  10     1         1       1      1         1        1          1       1      1      1      1      1     12
Processing Equipment           5    14        14      14     14        14       14         15      15     15     15     15     15    174
Office Equipment               3     0         0       0      0         0        0          0       0      0      0      0      0      0
Vehicles                       3     1         1       1      1         1        1          1       1      1      1      1      1     13
Total Principal Repayment           19        19      19     19        19       19         20      20     20     20     20     20    234
Debt Balance
Land                               64      64         63     63        63       63       63        63     63     63     63     63
Buildings                         436     433        430    427       425      422      419       416    413    411    408    405
Improvements                      162     161        160    159       158      157      156       155    154    152    151    150
Processing Equipment              788     774        760    746       731      717      702       688    673    658    643    628
Office Equipment                    0       0          0      0         0        0        0         0      0      0      0      0
Vehicles                           27      26         25     24        23       21       20        19     18     17     16     15
Total Debt Balance               1476    1457       1438   1419      1400     1380     1361      1341   1321   1301   1281   1261




                                                                      Page 10 of 51
                                                            Rocket Science Pty Ltd
                                                            Assets and Loans



Year Ending December:    2003   Jan    Feb    Mar     Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total    2004
Asset Values ($'000)
Capital Expenditure
Capex Risk Factor

Land                                                                                                                             0
Buildings                                                                                                                        0
Improvements                                                                                                                     0
Processing Equipment                                                                                                             0
Office Equipment                                                                                                                 0
Vehicles                                                                                                                         0
Total CapEx                        0      0      0      0         0        0          0       0      0      0      0      0      0

Depreciation
Land                     0.0%      0      0      0      0         0        0          0       0      0      0      0      0      0     0.0%
Buildings                4.0%      2      2      2      2         2        2          2       2      2      2      2      2     26     4.0%
Improvements            10.0%      2      2      2      2         2        2          2       2      2      2      2      2     21    10.0%
Processing Equipment    20.0%     17     17     17     17        17       17         17      17     17     17     17     17    205    20.0%
Office Equipment        40.0%      0      0      0      0         0        0          0       0      0      0      0      0      1    40.0%
Vehicles                22.5%      1      1      1      1         1        1          1       1      1      1      1      1      7    22.5%
Total Depreciation                22     22     22     22        22       22         22      22     22     22     22     22    260

Asset Register
Land                              86     86     86     86        86       86       86        86     86     86     86     86
Buildings                        643    641    639    637       634      632      630       628    626    624    621    619
Improvements                     209    207    205    204       202      200      198       197    195    193    191    190
Processing Equipment            1007    990    973    956       939      922      905       888    870    853    836    819
Office Equipment                   3      3      3      3         3        3        3         3      2      2      2      2
Vehicles                          32     32     31     30        30       29       28        28     27     27     26     25
Total Assets                    1980   1959   1937   1915      1893     1872     1850      1828   1807   1785   1763   1742




                                                                Page 11 of 51
                                                                  Rocket Science Pty Ltd
                                                                  Assets and Loans



Year Ending December:    2003     Jan     Feb        Mar    Apr       May      Jun         Jul   Aug    Sep     Oct   Nov    Dec    Total     2004
Debt Funding ($'000)
Sources of Debt Funding
Land                      75%       0          0       0      0         0        0          0       0      0      0      0      0      0       75%
Buildings                 67%       0          0       0      0         0        0          0       0      0      0      0      0      0       67%
Improvements              67%       0          0       0      0         0        0          0       0      0      0      0      0      0       67%
Processing Equipment      60%       0          0       0      0         0        0          0       0      0      0      0      0      0       60%
Office Equipment         100%       0          0       0      0         0        0          0       0      0      0      0      0      0      100%
Vehicles                 100%       0          0       0      0         0        0          0       0      0      0      0      0      0      100%
Total Debt Funding                  0          0       0      0         0        0          0       0      0      0      0      0      0
Payment of Interest
                         Margin Prime Rate:        6.50%                                                                                    Margin
Period                              25        26      27     28        29       30         31      32     33     34     35     36
Land                      1.50%      0         0       0      0         0        0          0       0      0      0      0      0      5     1.50%
Buildings                 2.25%      3         3       3      3         3        3          3       3      3      3      3      3     34     2.25%
Improvements              2.25%      1         1       1      1         1        1          1       1      1      1      1      1     13     2.25%
Processing Equipment      2.75%      5         5       5      4         4        4          4       4      4      4      4      4     50     2.75%
Office Equipment          3.00%      0         0       0      0         0        0          0       0      0      0      0      0      0     3.00%
Vehicles                  3.50%      0         0       0      0         0        0          0       0      0      0      0      0      1     3.50%
Total Interest                       9         9       9      9         9        9          8       8      8      8      8      8    103
Repay't of Principal Term                                                                                                                   Term
Land                          25     0         0       0      0         0        0          0       0      0      0      0      0      1           25
Buildings                     10     3         3       3      3         3        3          3       3      3      3      3      3     37           10
Improvements                  10     1         1       1      1         1        1          1       1      1      1      1      1     14           10
Processing Equipment           5    15        15      15     16        16       16         16      16     16     16     16     17    190            5
Office Equipment               3     0         0       0      0         0        0          0       0      0      0      0      0      0            3
Vehicles                       3     1         1       1      1         1        1          1       1      1      1      1      1     15            3
Total Principal Repayment           20        21      21     21        21       21         21      22     22     22     22     22    256
Debt Balance
Land                               63      63         63     62        62       62       62        62     62     62     62     62
Buildings                         402     399        396    393       390      387      384       381    378    375    371    368
Improvements                      149     148        147    146       145      144      143       141    140    139    138    137
Processing Equipment              613     598        582    567       551      535      519       503    487    471    454    438
Office Equipment                    0       0          0      0         0        0        0         0      0      0      0      0
Vehicles                           14      12         11     10         9        8        6         5      4      3      1      0
Total Debt Balance               1240    1220       1199   1178      1157     1135     1114      1092   1071   1049   1027   1004




                                                                      Page 12 of 51
                                                           Rocket Science Pty Ltd
                                                           Assets and Loans



Year Ending December:   Jan    Feb    Mar     Apr   May        Jun       Jul        Aug   Sep     Oct   Nov    Dec    Total
Asset Values ($'000)
Capital Expenditure
Capex Risk Factor

Land                                                                                                                     0
Buildings                                                                                                                0
Improvements                                                                                                             0
Processing Equipment                                                                                                     0
Office Equipment                                                                                                         0
Vehicles                                                                                                                 0
Total CapEx                0      0      0      0      0         0        0           0      0      0      0      0      0

Depreciation
Land                       0      0      0      0      0         0        0           0      0      0      0      0      0
Buildings                  2      2      2      2      2         2        2           2      2      2      2      2     25
Improvements               2      2      2      2      2         2        2           2      2      2      2      2     19
Processing Equipment      14     14     14     14     14        14       14          14     14     14     14     14    164
Office Equipment           0      0      0      0      0         0        0           0      0      0      0      0      1
Vehicles                   0      0      0      0      0         0        0           0      0      0      0      0      6
Total Depreciation        18     18     18     18     18        18       18          18     18     18     18     18    214

Asset Register
Land                      86     86     86     86     86        86       86       86        86     86     86     86
Buildings                617    615    613    611    609       607      605      603       601    599    597    595
Improvements             188    186    185    183    182       180      178      177       175    174    172    171
Processing Equipment     806    792    778    765    751       737      724      710       696    683    669    655
Office Equipment           2      2      2      2      2         2        2        2         1      1      1      1
Vehicles                  25     24     24     23     23        23       22       22        21     21     20     20
Total Assets            1724   1706   1688   1670   1652      1634     1617     1599      1581   1563   1545   1527




                                                               Page 13 of 51
                                                               Rocket Science Pty Ltd
                                                               Assets and Loans



Year Ending December:       Jan   Feb        Mar   Apr   May       Jun       Jul        Aug   Sep   Oct   Nov   Dec   Total
Debt Funding ($'000)
Sources of Debt Funding
Land                          0        0       0     0     0         0        0           0     0     0     0     0      0
Buildings                     0        0       0     0     0         0        0           0     0     0     0     0      0
Improvements                  0        0       0     0     0         0        0           0     0     0     0     0      0
Processing Equipment          0        0       0     0     0         0        0           0     0     0     0     0      0
Office Equipment              0        0       0     0     0         0        0           0     0     0     0     0      0
Vehicles                      0        0       0     0     0         0        0           0     0     0     0     0      0
Total Debt Funding            0        0       0     0     0         0        0           0     0     0     0     0      0
Payment of Interest
                        Prime Rate:        6.50%
Period                       37       38      39    40    41        42       43          44    45    46    47    48
Land                          0        0       0     0     0         0        0           0     0     0     0     0      5
Buildings                     3        3       3     3     3         3        3           3     2     2     2     2     31
Improvements                  1        1       1     1     1         1        1           1     1     1     1     1     11
Processing Equipment          3        3       3     3     3         3        3           2     2     2     2     2     32
Office Equipment              0        0       0     0     0         0        0           0     0     0     0     0      0
Vehicles                      0        0       0     0     0         0        0           0     0     0     0     0      0
Total Interest                7        7       7     7     7         7        6           6     6     6     6     6     79
Repay't of Principal
Land                          0        0       0     0     0         0        0           0     0     0     0     0      1
Buildings                     3        3       3     3     3         3        3           3     3     3     3     3     40
Improvements                  1        1       1     1     1         1        1           1     1     1     1     1     15
Processing Equipment         17       17      17    17    17        17       17          18    18    18    18    18    209
Office Equipment              0        0       0     0     0         0        0           0     0     0     0     0      0
Vehicles                      0        0       0     0     0         0        0           0     0     0     0     0      0
Total Principal Repayment    21       21      21    22    22        22       22          22    22    23    23    23    265
Debt Balance
Land                         62    62         61    61    61        61       61          61    61    61    61    61
Buildings                   365   362        359   355   352       349      345         342   339   335   332   328
Improvements                136   134        133   132   131       130      128         127   126   125   123   122
Processing Equipment        421   404        387   370   353       336      318         301   283   265   247   229
Office Equipment              0     0          0     0     0         0        0           0     0     0     0     0
Vehicles                      0     0          0     0     0         0        0           0     0     0     0     0
Total Debt Balance          983   962        941   919   897       875      853         831   808   786   763   740




                                                                   Page 14 of 51
                                                        Rocket Science Pty Ltd




                              2000   Jan   Feb   Mar   Apr   May    Jun     Jul   Aug   Sep   Oct   Nov   Dec   Total
Sales Forecast
Sales pattern - % per month
Product Sales - Tonnes
Product Sales - Pieces
Product Sales - Powder
Total Sales - Tonnes

Product Sales - $'000
Product Sales - Pieces
Product Sales - Powder
Total Sales - $'000




                                                               Page 15
                                                  Rocket Science Pty Ltd




                        2000   Jan   Feb   Mar   Apr   May    Jun     Jul   Aug   Sep   Oct   Nov   Dec   Total
Production, Sales and Stocks Summary
Production and Stocks - Tonnes
Primary Production
Losses and Wastage
Secondary Production

Raw Product Stock
Finished Goods Stock

Cost Allocations ($'000)
Primary Production
Op Stock + Production
Average $/kg
Allocation:
Secondary Processing
Losses and Wastage
Raw Product Stock

Secondary Production
Op Stock + Production
Average $/kg
Allocation:
COGS
Finished Goods Stock

Stock Summary - $'000
Raw Product
Finished Goods
Total Closing Stock




                                                         Page 16
                                                     Rocket Science Pty Ltd




                          2000    Jan   Feb   Mar   Apr   May    Jun     Jul   Aug   Sep   Oct   Nov   Dec   Total
Primary Production
Production Schedule
Working days in month
Supply/weather factor
No. of processing days
Operating Hours
Processing efficiency

Raw Product - tonnes

Raw Materials - tonnes
Direct Production Cost - $'000
Direct Production Costs
Raw Materials
Freight Inwards
Boiler Fuel
Electricity
Water
Consumables
Direct Labour
Total Primary Production Cost
$/kg product

Primary Factory Overheads
Maintenance Schedule    %/month
Repairs & Maintenance
Depreciation
Insurance
Production Manager
Total Primary Overheads

Total Primary Production Cost




                                                            Page 17
                                                       Rocket Science Pty Ltd




                           2000     Jan   Feb   Mar   Apr   May    Jun     Jul   Aug   Sep   Oct   Nov   Dec   Total
Secondary Costs and Management Overheads - $'000
Secondary Production Costs
Direct Production Cost - $'000
Cost of Raw Product Used
Losses and Wastage
2ndary Production Cost       0.35
Direct Production Cost

Secondary Factory Overheads
Power
Forklift
Other
Total Secondary Overheads

Total Secondary Production
Total Production Cost/kg




Management Overheads
Accounting Fees
Bank Charges
Directors' Fees
Stationery
Research & Development
Salaries & Wages
Salary on-costs
Telephone
Travel
Total Management Overheads




                                                              Page 18
                                                      Rocket Science Pty Ltd




                            2000   Jan   Feb   Mar   Apr   May    Jun     Jul   Aug   Sep   Oct   Nov   Dec   Total
Profit & Loss ($'000)
Sales
Total Sales
Cost of Goods Sold
Opening Stock
Primary Production Cost
Losses and Wastage
Secondary Production Cost
Closing Stock
Cost of Goods Sold
Check COGS figure

Gross Margin
%

Management Overheads
EBIT

Interest on Loans
Interest on Conv. Notes
Net Operating Profit

Other Income
R&D Grant Receivable
Interest on Cash Balance
Net Profit before Tax

Accumulated NPBT
Cumulative monthly tax
Cumulative quarterly tax
Quarterly Tax payable
Net Profit after Tax

Dividend Payable
YTD Profit




                                                             Page 19
                                                       Rocket Science Pty Ltd




                            2000    Jan   Feb   Mar   Apr   May    Jun       Jul    Aug    Sep    Oct    Nov    Dec    Total
Cash Flow - $'000
Operating Cash Flow
Operating Receipts
Sales                        45             0     0     0     0         0       0     0      0      0      0      0
Other Income - R&D Grant     90                         0     0         0       0     0      0      0      0      0
Other Income - Interest
GST on Income               10%       0     0     0     0     0         0       0     0      0      0      0      0
Total Operating Receipts              0     0     0     0     0         0       0     0      0      0      0      0
Operating Payments
Current Payments              0       0     0     0     0     0       0        0      0      0       0     0      0
30 day payments              30             0     0     0     0       0        0      0      0       0     0      0
GST on Purchases            10%       0     0     0     0    28      57       24     57      0      35     0     35
Quarterly GST payment                                   0                    -85                   -81
Company Tax Paid                            0     0     0      0      0        0       0      0      0      0      0
Total Operating Payments              0     0     0     0     28     57      -61      57      0    -46      0     35
Net Operating Cash Flow               0     0     0     0    -28    -57       61     -57      0     46      0    -35    -71
Operating Cash Balance                0     0     0     0    -28    -85      -24     -81    -81    -35    -35    -71
Capex and Loans
Capital Expenditure                   0     0     0     0   275     575      240     575      0    355      0    355   2373
Loans Received                        0     0     0     0   225     519      161     362      0    221      0    221   1708
Interest on Loans                     0     0     0     0     0       0        0       0      0      0      0      0      0
Loan Principal Repaid                 0     0     0     0     0       0        0       0      0      0      0      0      0
Pre-Equity Net Cash Flow              0     0     0     0   -50     -56      -79    -213      0   -134      0   -134   -665
Pre-Equity Cash Balance      1547     0     0     0     0   -77    -191     -209    -479   -479   -567   -567   -736
Equity Funding
Owner's Equity              387      25    25    55    25                                                               517
New Investor's Equity                                       300                     300                         100     700
New Convertible Notes                                                                                           100     100
Cash Balance after Equity            25    50   105   130   353     239     221     251    251    163    163    194
Dividend Paid                                                                                                             0
Interest on Conv. Notes               0     0     0     0     0         0       0     0      0      0      0      0       0
Formation Expenses                   25    25    55    25
New Equity Net Cash Flow              0     0     0     0   300       0       0     300      0      0      0    200    1317
Net Cash Balance                      0     0     0     0   223     109      91     121    121     33     33     64




                                                              Page 20
                                                       Rocket Science Pty Ltd




                             2000   Jan   Feb   Mar   Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Balance Sheet - $'000
Assets
Current Assets
Cash                                  0     0     0     0    223    109     91    121    121     33     33     64
Stock                                 0     0     0     0      0      0      0      0      0      0      0      0
Debtors                               0     0     0     0      0      0      0      0      0      0      0      0
Total Current Assets                  0     0     0     0    223    109     91    121    121     33     33     64

Fixed Assets - depreciated          337   337   337   337    612   1187   1427   2001   2001   2356   2356   2710
Formation Expenses            50     75   100   155   180    180    180    180    180    180    180    180    180
Total Assets                        412   437   492   517   1015   1476   1698   2302   2302   2569   2569   2954
Liabilities
Current Liabilities
Overdraft                             0     0     0     0      0      0      0      0      0      0      0      0
Creditors                             0     0     0     0      0      0      0      0      0      0      0      0
GST Payable                           0     0     0     0    -28    -85    -24    -81    -81    -35    -35    -71
Provision for Tax                     0     0     0     0      0      0      0      0      0      0      0      0
Dividend Payable                      0     0     0     0      0      0      0      0      0      0      0      0
Total Current Liabilities             0     0     0     0    -28    -85    -24    -81    -81    -35    -35    -71

Long Term Liabilities
Secured Loans                         0     0     0     0    225    744    905   1266   1266   1487   1487   1708
Convertible Notes                     0     0     0     0      0      0      0      0      0      0      0    100
Total Liabilities                     0     0     0     0    198    659    881   1185   1185   1452   1452   1737

Net Assets                          412   437   492   517    817    817    817   1117   1117   1117   1117   1217
Shareholders' Equity
Owners' Equity               387    412   437   492   517    517    517    517    517    517    517    517    517
Investor's Equity                     0     0     0     0    300    300    300    600    600    600    600    700
Accumulated Profit                    0     0     0     0      0      0      0      0      0      0      0      0
Total equity                        412   437   492   517    817    817    817   1117   1117   1117   1117   1217
Check Balance                         0     0     0     0      0      0      0      0      0      0      0      0




                                                              Page 21
                                                             Rocket Science Pty Ltd




                              2001    Jan    Feb    Mar     Apr     May      Jun     Jul    Aug     Sep     Oct     Nov     Dec     Total
Sales Forecast
Sales pattern - % per month          6.4%   6.9%   7.4%    7.6%    9.1%    10.3%   10.9%   10.6%   9.8%    8.2%    7.5%    5.3% 100.0%
Product Sales - Tonnes
Product Sales - Pieces        35%     0.0    0.0    16.7    17.2    20.6    23.3    24.7    24.0    22.2    18.6    17.0    12.0    196.2
Product Sales - Powder        65%     0.0    0.0    31.1    31.9    38.3    43.3    45.8    44.6    41.2    34.5    31.5    22.3    364.5
Total Sales - Tonnes                  0.0    0.0    47.9    49.1    58.9    66.6    70.5    68.6    63.4    53.0    48.5    34.3    560.7

Product Sales - $'000
Product Sales - Pieces        4.25    0.0    0.0    71.2    73.1    87.5    99.1   104.9   102.0    94.3    78.9    72.1    51.0    834.0
Product Sales - Powder        3.25    0.0    0.0   101.1   103.8   124.3   140.7   148.9   144.8   133.9   112.0   102.5    72.4   1184.5
Total Sales - $'000           3.60    0.0    0.0   172.3   176.9   211.9   239.8   253.8   246.8   228.2   190.9   174.6   123.4   2018.5




                                                                      Page 22
                                                          Rocket Science Pty Ltd




                        2001     Jan     Feb     Mar     Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec    Total
Production, Sales and Stocks Summary
Production and Stocks - Tonnes
Primary Production               91.8   188.2   237.2   129.6     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0   646.7
Losses and Wastage      0.21%     0.0     0.2     0.5     0.9     1.0     0.9     0.7     0.6     0.5     0.3     0.2     0.2     6.0
Secondary Production              0.0    47.9    49.1    58.9    66.6    70.5    68.6    63.4    53.0    48.5    34.3    60.2   620.9

Raw Product Stock                91.8   231.9   419.4   489.3   421.7   350.3   281.0   217.1   163.6   114.7    80.2    19.9
Finished Goods Stock              0.0    47.9    49.1    58.9    66.6    70.5    68.6    63.4    53.0    48.5    34.3    60.2

Cost Allocations ($'000)
Primary Production
Op Stock + Production           160.7   428.5   674.9   799.1   762.4   707.3   637.9   582.3   520.4   462.7   395.2   326.6
Average $/kg                     1.75    1.53    1.44    1.46    1.56    1.68    1.82    2.07    2.40    2.83    3.44    4.07
Allocation:
Secondary Processing              0.0    73.2    70.7    85.7   103.8   118.2   124.8   131.3   127.1   137.2   118.0   245.0
Losses and Wastage                0.0     0.3     0.7     1.3     1.6     1.5     1.3     1.2     1.1     1.0     0.8     0.7
Raw Product Stock               160.7   354.9   603.5   712.2   657.0   587.6   511.7   449.8   392.1   324.6   276.3    80.9

Secondary Production
Op Stock + Production             0.2   90.9    179.9   199.1   237.7   271.1   290.0   298.2   290.5   287.9   268.7   378.5
Average $/kg                            1.90     1.85    1.84    1.89    1.98    2.09    2.26    2.50    2.84    3.25    4.01
Allocation:
COGS                              0.0     0.0    88.7    90.6   111.5   131.7   147.0   154.9   158.1   150.4   157.5   137.3
Finished Goods Stock              0.2    90.9    91.1   108.5   126.2   139.4   143.0   143.3   132.3   137.5   111.3   241.2

Stock Summary - $'000
Raw Product                     160.7   354.9   603.5   712.2   657.0   587.6   511.7   449.8   392.1   324.6   276.3    80.9
Finished Goods                    0.2    90.9    91.1   108.5   126.2   139.4   143.0   143.3   132.3   137.5   111.3   241.2
Total Closing Stock             160.8   445.8   694.7   820.7   783.2   727.0   654.7   593.0   524.5   462.1   387.6   322.0




                                                                   Page 23
                                                                Rocket Science Pty Ltd




                          2001     Jan      Feb      Mar       Apr    May    Jun     Jul   Aug    Sep    Oct    Nov    Dec     Total
Primary Production
Production Schedule
Working days in month                15       28       31       15                                                                89
Supply/weather factor              85%      80%      85%      90%                                                             84.3%
No. of processing days               13       22       26       14                                                                75
Operating Hours                     306      538      632      324                                                             1800
Processing efficiency              60%      70%      75%      80%                                                             71.9%

Raw Product - tonnes       500     91.8    188.2    237.2    129.6                                                             646.7

Raw Materials - tonnes     4.75    436      894     1126      616                                                              3072
Direct Production Cost - $'000
Direct Production Costs
Raw Materials              180     78.5    160.9    202.8    110.8                                                             552.9
Freight Inwards            2.5       1.1      2.2      2.8      1.5                                                               7.7
Boiler Fuel                 45     13.7     24.0     28.3     14.5                                                              80.5
Electricity                 11       3.4      6.0      7.0      3.6                                                             20.0
Water                       96       1.2      2.2      2.5      1.3                                                               7.2
Consumables                 10       0.9      1.9      2.4      1.3                                                               6.5
Direct Labour               38     11.6     20.4     24.0     12.3                                                              68.2
Total Primary Production Cost     110.4    217.5    269.7    145.3                                                             743.0
$/kg product                       1.20     1.16     1.14     1.12                                                              1.15

Primary Factory Overheads
Maintenance Schedule    %/month     5%       5%       5%       5%      5%     5%     5%    15%    15%    15%    15%     5%    100%
Repairs & Maintenance              10.2     10.2     10.2     10.2    10.2   10.2   10.2   30.5   30.5   30.5   30.5   10.2   203.2
Depreciation                       32.5     32.5     32.5     32.5    32.5   32.5   32.5   32.5   32.5   32.5   32.5   32.5   390.1
Insurance                           0.6      0.6      0.6      0.6     0.6    0.6    0.6    0.6    0.6    0.6    0.6    0.6     7.2
Production Manager                  7.0      7.0      7.0      7.0     7.0    7.0    7.0    7.0    7.0    7.0    7.0    7.0    84.0
Total Primary Overheads            50.3     50.3     50.3     50.3    50.3   50.3   50.3   70.6   70.6   70.6   70.6   50.3   684.5

Total Primary Production Cost     160.7    267.8    320.0    195.6    50.3   50.3   50.3   70.6   70.6   70.6   70.6   50.3   2114.2




                                                                        Page 24
                                                           Rocket Science Pty Ltd




                           2001     Jan    Feb    Mar     Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Secondary Costs and Management Overheads - $'000
Secondary Production Costs
Direct Production Cost - $'000
Cost of Raw Product Used             0.0   73.2   70.7    85.7   103.8   118.2   124.8   131.3   127.1   137.2   118.0   245.0   1335.2
Losses and Wastage                   0.0    0.3    0.7     1.3     1.6     1.5     1.3     1.2     1.1     1.0     0.8     0.7     11.4
2ndary Production Cost       0.35    0.0   17.0   17.4    20.9    23.6    25.0    24.3    22.5    18.8    17.2    12.2    21.4    220.3
Direct Production Cost               0.0   90.5   88.9   107.8   129.0   144.7   150.5   155.0   147.0   155.4   131.0   267.1   1566.9

Secondary Factory Overheads
Power                                0.0    0.0    0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0      0.3
Forklift                             0.1    0.1    0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Other                                0.1    0.1    0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      0.6
Total Secondary Overheads            0.2    0.2    0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2      2.1

Total Secondary Production           0.2   90.7   89.0   108.0   129.2   144.9   150.7   155.2   147.2   155.6   131.2   267.2   1569.0
Total Production Cost/kg                   1.90   1.81    1.83    1.94    2.06    2.20    2.45    2.78    3.21    3.83    4.44     2.53




Management Overheads
Accounting Fees                                    1.0                     1.0                     1.0                     3.0      6.0
Bank Charges             3.0         0.3    0.3    0.3     0.3     0.3     0.3     0.3     0.3     0.3     0.3     0.3     0.3      3.0
Directors' Fees                      3.0    3.0    3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Stationery                           0.1    0.1    0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Research & Development   100.9                                    16.8    16.8    16.8    16.8    16.8    16.8                    100.9
Salaries & Wages                    12.0   12.0   12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    144.0
Salary on-costs         15.8%        3.0    3.0    3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Telephone                            1.0    1.0    1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Travel                               1.0    1.0    1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Total Management Overheads          20.3   20.3   21.3    20.3    37.2    38.2    37.2    37.2    38.2    37.2    20.3    23.3    351.1




                                                                    Page 25
                                                                Rocket Science Pty Ltd




                            2001     Jan     Feb      Mar      Apr      May      Jun       Jul     Aug      Sep      Oct     Nov     Dec     Total
Profit & Loss ($'000)
Sales
Total Sales                           0.0     0.0    172.3    176.9    211.9    239.8    253.8    246.8    228.2    190.9   174.6   123.4   2018.5
Cost of Goods Sold
Opening Stock                         0.0   160.8    445.8    694.7    820.7    783.2    727.0    654.7    593.0    524.5   462.1   387.6      0.0
Primary Production Cost             160.7   267.8    320.0    195.6     50.3     50.3     50.3     70.6     70.6     70.6    70.6    50.3   1427.5
Losses and Wastage                    0.0    -0.3     -0.7     -1.3     -1.6     -1.5     -1.3     -1.2     -1.1     -1.0    -0.8    -0.7    -11.4
Secondary Production Cost             0.2    17.4     18.3     22.3     25.4     26.7     25.8     23.9     20.1     18.3    13.2    22.2    233.8
Closing Stock                       160.8   445.8    694.7    820.7    783.2    727.0    654.7    593.0    524.5    462.1   387.6   322.0    322.0
Cost of Goods Sold                    0.0     0.0     88.7     90.6    111.5    131.7    147.0    154.9    158.1    150.4   157.5   137.3   1327.9
Check COGS figure                     0.0     0.0     88.7     90.6    111.5    131.7    147.0    154.9    158.1    150.4   157.5   137.3   1327.9

Gross Margin                          0.0     0.0     83.5     86.3    100.4    108.1    106.7     91.8     70.0     40.6    17.2  -13.9     690.6
%                                                   48.5%    48.8%    47.4%    45.1%    42.1%    37.2%    30.7%    21.2%    9.8% -11.3%     34.2%

Management Overheads                 20.3    20.3     21.3     20.3     37.2     38.2     37.2     37.2     38.2     37.2    20.3    23.3    351.1
EBIT                                -20.3   -20.3     62.2     66.0     63.2     69.9     69.6     54.7     31.9      3.4    -3.2   -37.3    339.5

Interest on Loans                    12.9    12.7     12.6     12.5     12.3     12.2     12.1     11.9     11.8     11.6    11.5    11.4    145.4
Interest on Conv. Notes     9.50%     0.8     2.4      2.4      7.1      7.1      7.1      7.1      7.1      7.1      7.1     7.1     7.1      0.0
Net Operating Profit                -34.0   -35.4     47.2     46.4     43.7     50.6     50.4     35.6     12.9    -15.4   -21.8   -55.8    124.5

Other Income
R&D Grant Receivable         60%      0.0     0.0      0.0      0.0     10.1     10.1     10.1     10.1     10.1     10.1     0.0     0.0     60.6
Interest on Cash Balance    4.50%     0.2     1.0      0.3      1.3      0.3      0.1      0.5      0.8      1.4      2.0     2.1     2.5     12.4
Net Profit before Tax               -33.8   -34.4     47.5     47.6     54.2     60.8     60.9     46.5     24.4     -3.3   -19.7   -53.3    197.5

Accumulated NPBT                    -33.8   -68.2    -20.7     26.9     81.1    141.9    202.8    249.4    273.8    270.5   250.7   197.5
Cumulative monthly tax      30%     -10.1   -20.5     -6.2      8.1     24.3     42.6     60.9     74.8     82.1     81.1    75.2    59.2
Cumulative quarterly tax                               0.0                       42.6                       82.1                     82.1
Quarterly Tax payable                                  0.0                       42.6                       39.6                      0.0     82.1
Net Profit after Tax                -33.8   -34.4     47.5     47.6     54.2     18.2     60.9     46.5    -15.1     -3.3   -19.7   -53.3    115.3

Dividend Payable                                                                                                                               0.0
YTD Profit                          -33.8   -68.2    -20.7     26.9     81.1     99.3    160.3    206.8    191.7    188.3   168.6   115.3




                                                                          Page 26
                                                            Rocket Science Pty Ltd




                            2001   Jan    Feb     Mar     Apr     May     Jun      Jul    Aug     Sep    Oct    Nov    Dec    Total
Cash Flow - $'000
Operating Cash Flow
Operating Receipts
Sales                                0      0       0      86     175     194     226     247     250    237    210    183
Other Income - R&D Grant             0      0       0       0       0       0       0      10      10     10     10     10
Other Income - Interest              0      1       0       1       0       0       0       1       1      2      2      3
GST on Income                        0      0       0       9      17      19      23      26      26     25     22     19
Total Operating Receipts             0      1       0      96     192     214     249     283     288    274    244    215
Operating Payments
Current Payments                     37    45      49       37     25      25       25     25      25     25     25     25
30 day payments                       0   112     227      278    167      54       56     54      73     70     68     46
GST on Purchases                      0    11      23       28     17       5        6      5       7      7      7      5
Quarterly GST payment               -71                    -34                      -4                    56
Company Tax Paid                      0      0       0       0       0       0      43       0      0     40      0      0
Total Operating Payments            -34    169     299     309     209      84     125      85    105    198     99     75
Net Operating Cash Flow              35   -168    -299    -213     -16     130     124     199    183     76    144    139     334
Operating Cash Balance              -36   -204    -503    -715    -732    -602    -478    -280    -97    -21    124    263
Capex and Loans
Capital Expenditure                   0      0       0       0       0       0       0       0       0      0      0      0      0
Loans Received                        0      0       0       0       0       0       0       0       0      0      0      0      0
Interest on Loans                    13     13      13      12      12      12      12      12      12     12     12     11    145
Loan Principal Repaid                17     17      17      17      18      18      18      18      18     18     18     19    213
Pre-Equity Net Cash Flow            -30    -30     -30     -30     -30     -30     -30     -30     -30    -30    -30    -30   -359
Pre-Equity Cash Balance            -732   -929   -1258   -1500   -1547   -1447   -1353   -1184   -1031   -985   -871   -761
Equity Funding
Owner's Equity
New Investor's Equity                                                                                                            0
New Convertible Notes              200            600                                                                          800
Cash Balance after Equity          398    201     472     230     183     283     377     546     699    745    859    969
Dividend Paid                        0      0       0       0       0       0       0       0       0      0      0      0       0
Interest on Conv. Notes              1      2       2       7       7       7       7       7       7      7      7      7      70
Formation Expenses
New Equity Net Cash Flow           199     -2     598      -7      -7      -7      -7      -7      -7     -7     -7     -7     730
Net Cash Balance                   268     68     337      87      33     126     213     375     520    560    667    769




                                                                    Page 27
                                                           Rocket Science Pty Ltd




                             2001   Jan    Feb    Mar     Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Balance Sheet - $'000
Assets
Current Assets
Cash                                 268     68    337     87     33    126    213    375    520    560    667    769
Stock                                161    446    695    821    783    727    655    593    524    462    388    322
Debtors                                0      0    172    263    310    366    404    404    382    335    290    221
Total Current Assets                 428    513   1203   1171   1127   1219   1272   1372   1427   1357   1345   1312

Fixed Assets - depreciated          2678   2645   2613   2580   2548   2515   2483   2450   2418   2385   2353   2320
Formation Expenses                   180    180    180    180    180    180    180    180    180    180    180    180
Total Assets                        3286   3339   3996   3931   3855   3914   3934   4002   4024   3922   3877   3812
Liabilities
Current Liabilities
Overdraft                              0      0      0      0      0      0      0      0      0      0      0      0
Creditors                            112    227    278    167     54     56     54     73     70     68     46     38
GST Payable                            0    -11    -34    -19    -18     -4     17     37     56     18     33     48
Provision for Tax                      0      0      0      0      0     43      0      0     40      0      0      0
Dividend Payable                       0      0      0      0      0      0      0      0      0      0      0      0
Total Current Liabilities            112    216    244    148     35     94     71    110    166     85     79     85

Long Term Liabilities
Secured Loans                       1691   1674   1656   1639   1621   1604   1586   1568   1550   1531   1513   1494
Convertible Notes                    300    300    900    900    900    900    900    900    900    900    900    900
Total Liabilities                   2103   2190   2800   2687   2557   2598   2557   2578   2615   2517   2492   2480

Net Assets                          1183   1149   1196   1244   1298   1316   1377   1424   1409   1405   1386   1332
Shareholders' Equity
Owners' Equity                       517    517    517    517    517    517    517    517    517    517    517    517
Investor's Equity                    700    700    700    700    700    700    700    700    700    700    700    700
Accumulated Profit                   -34    -68    -21     27     81     99    160    207    192    188    169    115
Total equity                        1183   1149   1196   1244   1298   1316   1377   1424   1409   1405   1386   1332
Check Balance                          0      0      0      0      0      0      0      0      0      0      0      0




                                                                  Page 28
                                                               Rocket Science Pty Ltd




                              2002    Jan     Feb     Mar     Apr     May      Jun     Jul    Aug     Sep     Oct     Nov     Dec     Total
Sales Forecast
Sales pattern - % per month          6.4%    6.9%    7.4%    7.6%    9.1%    10.3%   10.9%   10.6%   9.8%    8.2%    7.5%    5.3% 100.0%
Product Sales - Tonnes
Product Sales - Pieces        42%     25.3    27.3    29.2    30.0    35.9    40.7    43.1    41.9    38.7    32.4    29.6    20.9    395.0
Product Sales - Powder        58%     34.9    37.6    40.4    41.5    49.6    56.2    59.5    57.8    53.5    44.7    40.9    28.9    545.5
Total Sales - Tonnes                  60.2    64.9    69.6    71.5    85.6    96.9   102.5    99.7    92.2    77.1    70.5    49.8    940.5

Product Sales - $'000
Product Sales - Pieces        4.00   101.1   109.0   116.9   120.1   143.8   162.7   172.2   167.5   154.8   129.6   118.5    83.7   1580.0
Product Sales - Powder        3.00   104.7   112.9   121.1   124.4   148.9   168.6   178.4   173.5   160.4   134.2   122.7    86.7   1636.4
Total Sales - $'000           3.42   205.9   221.9   238.0   244.4   292.7   331.3   350.6   340.9   315.2   263.7   241.2   170.5   3216.4




                                                                        Page 29
                                                            Rocket Science Pty Ltd




                        2002     Jan     Feb     Mar      Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec    Total
Production, Sales and Stocks Summary
Production and Stocks - Tonnes
Primary Production              160.7   228.5   284.6    266.8     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0   940.5
Losses and Wastage      0.13%     0.0     0.1     0.3      0.6     0.8     0.7     0.6     0.5     0.3     0.2     0.2     0.1     4.5
Secondary Production             64.9    69.6    71.5     85.6    96.9   102.5    99.7    92.2    77.1    70.5    49.8    64.8   945.1

Raw Product Stock               115.6   274.3   487.1    667.7   570.0   466.7   366.5   273.8   196.4   125.6    75.6    10.7
Finished Goods Stock             64.9    69.6    71.5     85.6    96.9   102.5    99.7    92.2    77.1    70.5    49.8    64.8

Cost Allocations ($'000)
Primary Production
Op Stock + Production           306.3   491.1   744.5    979.3   911.6   822.5   717.8   628.2   534.0   447.5   350.8   255.4
Average $/kg                     1.70    1.43    1.33     1.30    1.37    1.44    1.54    1.71    1.95    2.28    2.79    3.38
Allocation:
Secondary Processing            110.1    99.3    95.2    111.2   132.3   147.9   153.3   158.0   150.4   160.7   139.2   219.1
Losses and Wastage                0.0     0.2     0.5      0.8     1.1     1.0     0.9     0.8     0.7     0.6     0.4     0.3
Raw Product Stock               196.2   391.6   648.8    867.3   778.2   673.5   563.6   469.4   382.9   286.2   211.2    36.0

Secondary Production
Op Stock + Production           375.6   501.2   381.8    337.4   353.4   374.9   384.2   382.6   363.7   353.4   327.2   379.1
Average $/kg                             3.73    2.71     2.15    1.94    1.88    1.90    1.99    2.15    2.39    2.72    3.31
Allocation:
COGS                              0.0   241.8   188.3    153.5   165.8   182.1   194.8   198.8   198.0   184.6   191.7   164.8
Finished Goods Stock            375.6   259.4   193.4    183.8   187.6   192.7   189.4   183.8   165.7   168.8   135.5   214.3

Stock Summary - $'000
Raw Product                     196.2   391.6   648.8    867.3   778.2   673.5   563.6   469.4   382.9   286.2   211.2    36.0
Finished Goods                  375.6   259.4   193.4    183.8   187.6   192.7   189.4   183.8   165.7   168.8   135.5   214.3
Total Closing Stock             571.8   650.9   842.2   1051.2   965.8   866.3   753.0   653.2   548.6   455.0   346.6   250.4




                                                                    Page 30
                                                                Rocket Science Pty Ltd




                          2002     Jan      Feb      Mar       Apr    May    Jun     Jul   Aug    Sep    Oct    Nov    Dec     Total
Primary Production
Production Schedule
Working days in month                21       28       31       26                                                              106
Supply/weather factor              85%      80%      85%      90%                                                             84.9%
No. of processing days               18       22       26       23                                                                90
Operating Hours                     428      538      632      562                                                             2160
Processing efficiency              75%      85%      90%      95%                                                             87.1%

Raw Product - tonnes       500    160.7    228.5    284.6    266.8                                                             940.5

Raw Materials - tonnes     4.63    744     1059     1319     1236                                                              4358
Direct Production Cost - $'000
Direct Production Costs
Raw Materials              180    134.0    190.6    237.4    222.5                                                             784.5
Freight Inwards            5.0       3.7      5.3      6.6      6.2                                                             21.8
Boiler Fuel                 45     19.2     24.0     28.3     25.1                                                              96.6
Electricity                 11       4.8      6.0      7.0      6.2                                                             24.0
Water                       96       1.7      2.2      2.5      2.2                                                               8.6
Consumables                 10       1.6      2.3      2.9      2.7                                                               9.5
Direct Labour               38     16.2     20.4     24.0     21.3                                                              81.8
Total Primary Production Cost     181.2    250.7    308.6    286.2                                                            1026.7
$/kg product                       1.13     1.10     1.08     1.07                                                              1.09

Primary Factory Overheads
Maintenance Schedule    %/month     5%       5%       5%       5%      5%     5%     5%    15%    15%    15%    15%     5%    100%
Repairs & Maintenance              10.2     10.2     10.2     10.2    10.2   10.2   10.2   30.5   30.5   30.5   30.5   10.2   203.2
Depreciation                       26.5     26.5     26.5     26.5    26.5   26.5   26.5   26.5   26.5   26.5   26.5   26.5   318.1
Insurance                           0.6      0.6      0.6      0.6     0.6    0.6    0.6    0.6    0.6    0.6    0.6    0.6     7.2
Production Manager                  7.0      7.0      7.0      7.0     7.0    7.0    7.0    7.0    7.0    7.0    7.0    7.0    84.0
Total Primary Overheads            44.3     44.3     44.3     44.3    44.3   44.3   44.3   64.6   64.6   64.6   64.6   44.3   612.5

Total Primary Production Cost     225.5    295.0    352.9    330.5    44.3   44.3   44.3   64.6   64.6   64.6   64.6   44.3   2253.9




                                                                        Page 31
                                                              Rocket Science Pty Ltd




                           2002      Jan     Feb     Mar     Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Secondary Costs and Management Overheads - $'000
Secondary Production Costs
Direct Production Cost - $'000
Cost of Raw Product Used            110.1    99.3    95.2   111.2   132.3   147.9   153.3   158.0   150.4   160.7   139.2   219.1   1676.7
Losses and Wastage                    0.0     0.2     0.5     0.8     1.1     1.0     0.9     0.8     0.7     0.6     0.4     0.3      7.3
2ndary Production Cost       0.37    24.1    25.9    26.6    31.8    36.0    38.1    37.0    34.2    28.7    26.2    18.5    24.1    351.2
Direct Production Cost              134.3   125.4   122.2   143.8   169.4   187.0   191.3   193.0   179.7   187.5   158.2   243.5   2035.3

Secondary Factory Overheads
Power                                 0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0      0.3
Forklift                              0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Other                                 0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      0.6
Total Secondary Overheads             0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2      2.1

Total Secondary Production          134.4   125.6   122.4   143.9   169.6   187.2   191.4   193.2   179.9   187.7   158.4   243.7   2037.4
Total Production Cost/kg             2.07    1.80    1.71    1.68    1.75    1.83    1.92    2.10    2.33    2.66    3.18    3.76     2.16




Management Overheads
Accounting Fees                                       1.0                     1.0                     1.0                     3.0      6.0
Bank Charges             4.8          0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4      4.8
Directors' Fees                       3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Stationery                            0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Research & Development   160.8                                       26.8    26.8    26.8    26.8    26.8    26.8                    160.8
Salaries & Wages                     12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    12.0    144.0
Salary on-costs         15.8%         3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Telephone                             1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Travel                                1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Total Management Overheads           20.5    20.5    21.5    20.5    47.3    48.3    47.3    47.3    48.3    47.3    20.5    23.5    412.8




                                                                       Page 32
                                                                 Rocket Science Pty Ltd




                            2002     Jan     Feb      Mar      Apr      May      Jun       Jul     Aug      Sep      Oct      Nov     Dec     Total
Profit & Loss ($'000)
Sales
Total Sales                 3.42    205.9   221.9    238.0    244.4    292.7    331.3    350.6    340.9    315.2    263.7    241.2   170.5   3216.4
Cost of Goods Sold
Opening Stock                       322.0   571.8    650.9    842.2   1051.2    965.8    866.3    753.0    653.2    548.6    455.0   346.6    322.0
Primary Production Cost             225.5   295.0    352.9    330.5     44.3     44.3     44.3     64.6     64.6     64.6     64.6    44.3   1639.3
Losses and Wastage                    0.0    -0.2     -0.5     -0.8     -1.1     -1.0     -0.9     -0.8     -0.7     -0.6     -0.4    -0.3     -7.3
Secondary Production Cost            24.3    26.2     27.2     32.8     37.3     39.3     38.1     35.2     29.5     26.9     19.1    24.6    360.6
Closing Stock                       571.8   650.9    842.2   1051.2    965.8    866.3    753.0    653.2    548.6    455.0    346.6   250.4    250.4
Cost of Goods Sold                    0.0   241.8    188.3    153.5    165.8    182.1    194.8    198.8    198.0    184.6    191.7   164.8   2064.2
Check COGS figure                     0.0   241.8    188.3    153.5    165.8    182.1    194.8    198.8    198.0    184.6    191.7   164.8   2064.2

Gross Margin                        205.9   -19.9     49.7     90.9    126.9    149.2    155.8    142.1    117.2     79.2     49.5     5.7   1152.2
%                                                   20.9%    37.2%    43.4%    45.0%    44.4%    41.7%    37.2%    30.0%    20.5%    3.3%    35.8%

Management Overheads                 20.5    20.5     21.5     20.5     47.3     48.3     47.3     47.3     48.3     47.3     20.5    23.5    412.8
EBIT                                185.4   -40.4     28.2     70.4     79.6    100.9    108.5     94.8     68.9     31.9     29.0   -17.8    739.4

Interest on Loans                    11.2    11.1     10.9     10.8     10.6     10.5     10.3     10.2     10.0      9.9      9.7     9.6    125.0
Interest on Conv. Notes     9.50%     7.1     7.1      7.1      7.1      7.1      7.1      5.5      5.5      5.5      3.2      3.2     3.2      0.0
Net Operating Profit                167.0   -58.6     10.1     52.5     61.9     83.2     92.6     79.1     53.3     18.8     16.1   -30.6    545.6

Other Income
R&D Grant Receivable         60%      0.0     0.0      0.0      0.0     16.1     16.1     16.1     16.1     16.1     16.1      0.0     0.0     96.5
Interest on Cash Balance    4.50%     2.9     2.9      2.5      1.9      1.2      0.6      0.5      0.9      1.9      1.6      1.8     2.5
Net Profit before Tax               169.9   -55.7     12.6     54.4     79.1    100.0    109.2     96.1     71.3     36.5     18.0   -28.0    663.3

Accumulated NPBT                    367.3   311.7    324.3    378.7    457.8    557.8    666.9    763.0    834.3    870.8    888.8   860.8
Cumulative monthly tax      30%     110.2    93.5     97.3    113.6    137.3    167.3    200.1    228.9    250.3    261.2    266.6   258.2
Cumulative quarterly tax                              97.3                      167.3                      250.3                     258.2
Quarterly Tax payable                                 15.1                       70.0                       83.0                       7.9    176.1
Net Profit after Tax                169.9   -55.7     -2.5     54.4     79.1     29.9    109.2     96.1    -11.7     36.5     18.0   -36.0    487.2

Dividend Payable                                                                                                                                0.0
YTD Profit                          169.9   114.2    111.7    166.1    245.2    275.1    384.3    480.4    468.7    505.2    523.2   487.2




                                                                          Page 33
                                                           Rocket Science Pty Ltd




                            2002   Jan    Feb    Mar     Apr     May     Jun      Jul   Aug    Sep    Oct    Nov    Dec    Total
Cash Flow - $'000
Operating Cash Flow
Operating Receipts
Sales                              149    165    214     230     241     269     312    341    346    328     289    252
Other Income - R&D Grant            10      0      0       0       0       0       0     16     16     16      16     16
Other Income - Interest              3      3      2       2       1       1       0      1      2      2       2      3
GST on Income                       16     16     21      23      24      27      31     36     36     34      31     27
Total Operating Receipts           178    184    238     255     267     296     344    394    400    380     338    298
Operating Payments
Current Payments                    41     45     49       46     25      25      25     25     25     25      25     25
30 day payments                     38    203    270      326    310      76      79     77     95     90      87     52
GST on Purchases                     4     20     27       33     31       8       8      8      9      9       9      5
Quarterly GST payment               48                      3                      3                   78
Company Tax Paid                     0      0       0      15       0      0      70      0      0     83       0      0
Total Operating Payments           130    268     346     422     366    109     185    110    129    285     120     82
Net Operating Cash Flow             48    -84    -108    -168    -100    187     158    284    271     95     218    215   1017
Operating Cash Balance             311    227     119     -49    -148     39     197    481    752    847    1064   1280
Capex and Loans
Capital Expenditure                   0      0      0       0       0       0       0      0      0      0      0      0      0
Loans Received                        0      0      0       0       0       0       0      0      0      0      0      0      0
Interest on Loans                    11     11     11      11      11      10      10     10     10     10     10     10    125
Loan Principal Repaid                19     19     19      19      19      19      20     20     20     20     20     20    234
Pre-Equity Net Cash Flow            -30    -30    -30     -30     -30     -30     -30    -30    -30    -30    -30    -30   -359
Pre-Equity Cash Balance            -743   -857   -995   -1193   -1322   -1165   -1036   -782   -542   -477   -289   -103
Equity Funding
Owner's Equity
New Investor's Equity                                                                                                         0
New Convertible Notes                                                    -200                  -300                 -200   -700
Cash Balance after Equity          987    873    735     537     408      365    494    748     688   753     941    927
Dividend Paid                        0      0      0       0       0        0      0      0       0     0       0      0      0
Interest on Conv. Notes              7      7      7       7       7        7      6      6       6     3       3      3     69
Formation Expenses
New Equity Net Cash Flow            -7     -7     -7      -7      -7     -207     -6     -6    -306    -3      -3   -203   -769
Net Cash Balance                   780    659    514     309     173      123    246    494     429   491     676    658




                                                                   Page 34
                                                           Rocket Science Pty Ltd




                             2002   Jan    Feb    Mar     Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Balance Sheet - $'000
Assets
Current Assets
Cash                                 780    659    514    309    173    123    246    494    429    491    676    658
Stock                                572    651    842   1051    966    866    753    653    549    455    347    250
Debtors                              268    325    349    363    431    510    564    564    534    470    405    307
Total Current Assets                1619   1634   1705   1724   1569   1499   1563   1712   1512   1416   1428   1216

Fixed Assets - depreciated          2294   2267   2241   2214   2187   2161   2134   2108   2081   2055   2028   2002
Formation Expenses                   180    180    180    180    180    180    180    180    180    180    180    180
Total Assets                        4093   4081   4126   4118   3937   3840   3878   4000   3773   3651   3636   3398
Liabilities
Current Liabilities
Overdraft                              0      0      0      0      0      0      0      0      0      0      0      0
Creditors                            203    270    326    310     76     79     77     95     90     87     52     41
GST Payable                           12      8      3    -10    -16      3     23     51     78     25     47     69
Provision for Tax                      0      0     15      0      0     70      0      0     83      0      0      8
Dividend Payable                       0      0      0      0      0      0      0      0      0      0      0      0
Total Current Liabilities            215    278    344    301     60    152    101    146    251    112    100    117

Long Term Liabilities
Secured Loans                       1476   1457   1438   1419   1400   1380   1361   1341   1321   1301   1281   1261
Convertible Notes                    900    900    900    900    900    700    700    700    400    400    400    200
Total Liabilities                   2590   2635   2682   2620   2359   2232   2161   2187   1972   1813   1781   1578

Net Assets                          1502   1446   1444   1498   1577   1607   1717   1813   1801   1837   1855   1819
Shareholders' Equity
Owners' Equity                       517    517    517    517    517    517    517    517    517    517    517    517
Investor's Equity                    700    700    700    700    700    700    700    700    700    700    700    700
Accumulated Profit                   285    230    227    281    361    390    500    596    584    621    638    603
Total equity                        1502   1446   1444   1498   1577   1607   1717   1813   1801   1837   1855   1819
Check Balance                          0      0      0      0      0      0      0      0      0      0      0      0




                                                                  Page 35
                                                               Rocket Science Pty Ltd




                              2003    Jan     Feb     Mar     Apr     May      Jun     Jul    Aug     Sep     Oct     Nov     Dec     Total
Sales Forecast
Sales pattern - % per month          6.4%    6.9%    7.4%    7.6%    9.1%    10.3%   10.9%   10.6%   9.8%    8.2%    7.5%    5.3% 100.0%
Product Sales - Tonnes
Product Sales - Pieces        50%     27.2    29.4    31.5    32.3    38.7    43.8    46.4    45.1    41.7    34.9    31.9    22.6    425.5
Product Sales - Powder        50%     37.6    40.5    43.5    44.7    53.5    60.5    64.0    62.3    57.6    48.2    44.1    31.1    587.6
Total Sales - Tonnes                  64.8    69.9    75.0    77.0    92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7   1013.1

Product Sales - $'000
Product Sales - Pieces        3.75   108.9   117.4   125.9   129.3   154.9   175.3   185.5   180.4   166.8   139.6   127.6    90.2   1702.0
Product Sales - Powder        2.75   112.8   121.6   130.4   134.0   160.4   181.6   192.1   186.9   172.7   144.5   132.2    93.4   1762.7
Total Sales - $'000           3.25   221.7   239.1   256.4   263.3   315.3   356.9   377.7   367.3   339.5   284.1   259.9   183.6   3464.7




                                                                        Page 36
                                                            Rocket Science Pty Ltd




                        2003     Jan     Feb     Mar      Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Production, Sales and Stocks Summary
Production and Stocks - Tonnes
Primary Production              204.0   241.9   300.4    266.8     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0   1013.1
Losses and Wastage      0.08%     0.0     0.1     0.3      0.4     0.6     0.5     0.4     0.3     0.2     0.2     0.1     0.1      3.2
Secondary Production             69.9    75.0    77.0     92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7    64.8   1013.1

Raw Product Stock               144.8   311.6   534.7    708.9   603.9   493.0   385.2   285.6   202.3   126.1    72.3     7.4
Finished Goods Stock             69.9    75.0    77.0     92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7    64.8

Cost Allocations ($'000)
Primary Production
Op Stock + Production           300.4   502.2   763.7    990.6   915.6   819.5   708.4   613.3   514.5   424.2   324.3   225.4
Average $/kg                     1.40    1.30    1.25     1.24    1.29    1.36    1.44    1.59    1.80    2.10    2.57    3.12
Allocation:
Secondary Processing             97.8    97.4    96.1    113.9   134.8   149.8   154.3   158.1   149.7   159.3   138.1   202.1
Losses and Wastage                0.0     0.2     0.3      0.6     0.8     0.7     0.6     0.5     0.4     0.4     0.3     0.2
Raw Product Stock               202.6   404.7   667.3    876.1   780.0   669.0   553.5   454.7   364.4   264.5   186.0    23.2

Secondary Production
Op Stock + Production           339.7   466.7   368.2    337.2   360.2   385.1   395.0   392.3   371.2   358.7   330.8   364.7
Average $/kg                             3.22    2.42     1.99    1.83    1.79    1.81    1.90    2.04    2.25    2.55    3.08
Allocation:
COGS                              0.0   225.2   181.6    153.5   169.0   187.1   200.3   203.9   202.1   187.3   193.8   165.2
Finished Goods Stock            339.7   241.5   186.5    183.8   191.3   198.0   194.8   188.5   169.1   171.3   137.0   199.5

Stock Summary - $'000
Raw Product                     202.6   404.7   667.3    876.1   780.0   669.0   553.5   454.7   364.4   264.5   186.0    23.2
Finished Goods                  339.7   241.5   186.5    183.8   191.3   198.0   194.8   188.5   169.1   171.3   137.0   199.5
Total Closing Stock             542.2   646.2   853.8   1059.9   971.3   867.0   748.3   643.2   533.5   435.8   322.9   222.7




                                                                    Page 37
                                                                Rocket Science Pty Ltd




                          2003     Jan      Feb      Mar       Apr    May    Jun     Jul   Aug    Sep    Oct    Nov    Dec     Total
Primary Production
Production Schedule
Working days in month                25       28       31       26                                                              110
Supply/weather factor              85%      80%      85%      90%                                                             84.9%
No. of processing days               21       22       26       23                                                                93
Operating Hours                     510      538      632      562                                                             2242
Processing efficiency              80%      90%      95%      95%                                                             90.4%

Raw Product - tonnes       500    204.0    241.9    300.4    266.8                                                            1013.1

Raw Materials - tonnes     4.52    923     1094     1359     1207                                                              4583
Direct Production Cost - $'000
Direct Production Costs
Raw Materials              180    166.1    197.0    244.6    217.2                                                             824.9
Freight Inwards            7.5       6.9      8.2    10.2       9.1                                                             34.4
Boiler Fuel                 45     22.8     24.0     28.3     25.1                                                             100.2
Electricity                 11       5.7      6.0      7.0      6.2                                                             24.9
Water                       96       2.0      2.2      2.5      2.2                                                               9.0
Consumables                 10       2.1      2.4      3.0      2.7                                                             10.2
Direct Labour               38     19.3     20.4     24.0     21.3                                                              84.9
Total Primary Production Cost     224.9    260.1    319.6    283.8                                                            1088.5
$/kg product                       1.10     1.08     1.06     1.06                                                              1.07

Primary Factory Overheads
Maintenance Schedule    %/month     5%       5%       5%       5%      5%     5%     5%    15%    15%    15%    15%     5%    100%
Repairs & Maintenance              10.2     10.2     10.2     10.2    10.2   10.2   10.2   30.5   30.5   30.5   30.5   10.2   203.2
Depreciation                       21.7     21.7     21.7     21.7    21.7   21.7   21.7   21.7   21.7   21.7   21.7   21.7   260.4
Insurance                           0.6      0.6      0.6      0.6     0.6    0.6    0.6    0.6    0.6    0.6    0.6    0.6     7.2
Production Manager                  7.0      7.0      7.0      7.0     7.0    7.0    7.0    7.0    7.0    7.0    7.0    7.0    84.0
Total Primary Overheads            39.5     39.5     39.5     39.5    39.5   39.5   39.5   59.8   59.8   59.8   59.8   39.5   554.8

Total Primary Production Cost     264.4    299.6    359.1    323.3    39.5   39.5   39.5   59.8   59.8   59.8   59.8   39.5   2200.2




                                                                        Page 38
                                                              Rocket Science Pty Ltd




                           2003      Jan     Feb     Mar     Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Secondary Costs and Management Overheads - $'000
Secondary Production Costs
Direct Production Cost - $'000
Cost of Raw Product Used             97.8    97.4    96.1   113.9   134.8   149.8   154.3   158.1   149.7   159.3   138.1   202.1   1651.3
Losses and Wastage                    0.0     0.2     0.3     0.6     0.8     0.7     0.6     0.5     0.4     0.4     0.3     0.2      4.8
2ndary Production Cost       0.39    27.3    29.3    30.1    36.0    40.8    43.1    42.0    38.8    32.5    29.7    21.0    25.3    395.9
Direct Production Cost              125.1   126.8   126.5   150.5   176.3   193.7   196.9   197.4   182.5   189.4   159.3   227.6   2052.0

Secondary Factory Overheads
Power                                 0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0      0.3
Forklift                              0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Other                                 0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      0.6
Total Secondary Overheads             0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2      2.1

Total Secondary Production          125.3   127.0   126.7   150.7   176.5   193.8   197.0   197.6   182.7   189.6   159.5   227.8   2054.1
Total Production Cost/kg             1.79    1.69    1.65    1.63    1.69    1.76    1.83    1.99    2.20    2.49    2.97    3.51     2.03




Management Overheads
Accounting Fees                                       1.0                     1.0                     1.0                     3.0      6.0
Bank Charges             4.9          0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4      4.9
Directors' Fees                       3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Stationery                            0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Research & Development   164.6                                       27.4    27.4    27.4    27.4    27.4    27.4                    164.6
Salaries & Wages                     14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    168.0
Salary on-costs         15.8%         3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     39.7
Telephone                             1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Travel                                1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Total Management Overheads           22.8    22.8    23.8    22.8    50.3    51.3    50.3    50.3    51.3    50.3    22.8    25.8    444.5




                                                                       Page 39
                                                                   Rocket Science Pty Ltd




                            2003      Jan      Feb      Mar      Apr      May      Jun       Jul     Aug      Sep      Oct      Nov      Dec     Total
Profit & Loss ($'000)
Sales
Total Sales                 3.25     210.7    227.2    243.6    250.2    299.6    339.1    358.9    349.0    322.7    270.0    246.9    174.5   3292.5
Cost of Goods Sold
Opening Stock                        250.4    542.2    646.2    853.8   1059.9    971.3    867.0    748.3    643.2    533.5    435.8    322.9    250.4
Primary Production Cost              264.4    299.6    359.1    323.3     39.5     39.5     39.5     59.8     59.8     59.8     59.8     39.5   1643.3
Losses and Wastage                     0.0     -0.2     -0.3     -0.6     -0.8     -0.7     -0.6     -0.5     -0.4     -0.4     -0.3     -0.2     -4.8
Secondary Production Cost             27.5     29.6     30.6     36.7     41.7     44.0     42.7     39.5     33.1     30.2     21.4     25.7    402.8
Closing Stock                        542.2    646.2    853.8   1059.9    971.3    867.0    748.3    643.2    533.5    435.8    322.9    222.7    222.7
Cost of Goods Sold                     0.0    225.2    181.6    153.5    169.0    187.1    200.3    203.9    202.1    187.3    193.8    165.2   2068.9
Check COGS figure                      0.0    225.2    181.6    153.5    169.0    187.1    200.3    203.9    202.1    187.3    193.8    165.2   2068.9

Gross Margin                         210.7      2.0     62.0     96.8    130.6    152.0    158.6    145.1    120.6     82.7     53.1      9.3   1223.5
%                                                     25.5%    38.7%    43.6%    44.8%    44.2%    41.6%    37.4%    30.6%    21.5%     5.3%    37.2%

Management Overheads                  22.8     22.8     23.8     22.8     50.3     51.3     50.3     50.3     51.3     50.3     22.8     25.8    444.5
EBIT                                 187.9    -20.8     38.2     73.9     80.4    100.8    108.3     94.9     69.3     32.4     30.3    -16.5    779.0

Interest on Loans                      9.4      9.3      9.1      9.0      8.8      8.6      8.5      8.3      8.1      8.0      7.8      7.6    102.5
Interest on Conv. Notes     9.50%      1.6      1.6      1.6      1.6      1.6      1.6      1.6      0.0      0.0      0.0      0.0      0.0      0.0
Net Operating Profit                 176.9    -31.7     27.5     63.4     70.0     90.5     98.3     86.6     61.2     24.4     22.5    -24.2    665.4

Other Income
R&D Grant Receivable         60%       0.0      0.0      0.0      0.0     16.5     16.5     16.5     16.5     16.5     16.5      0.0      0.0     98.8
Interest on Cash Balance    4.50%      2.5      2.6      2.1      1.6      0.6      0.1      0.7      0.4      1.4      2.3      2.5      3.2
Net Profit before Tax                179.4    -29.0     29.6     65.0     87.1    107.1    115.5    103.4     79.0     43.1     25.0    -21.0    784.1

Accumulated NPBT                    1040.1   1011.1   1040.7   1105.7   1192.8   1299.9   1415.3   1518.8   1597.8   1640.9   1665.9   1644.9
Cumulative monthly tax      30%      312.0    303.3    312.2    331.7    357.8    390.0    424.6    455.6    479.3    492.3    499.8    493.5
Cumulative quarterly tax                               312.2                      390.0                      479.3                      493.5
Quarterly Tax payable                                   54.0                       77.7                       89.4                       14.1    235.2
Net Profit after Tax                 179.4    -29.0    -24.4     65.0     87.1     29.4    115.5    103.4    -10.4     43.1     25.0    -35.1    548.9

Dividend Payable                                                                                                                        426.0    426.0
YTD Profit                           179.4    150.3    126.0    190.9    278.0    307.4    422.8    526.3    515.9    559.0    584.0    122.9




                                                                            Page 40
                                                         Rocket Science Pty Ltd




                            2003   Jan    Feb    Mar    Apr    May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Cash Flow - $'000
Operating Cash Flow
Operating Receipts
Sales                               206    191    219   235    247    275     319    349    354    336    296    258
Other Income - R&D Grant             16      0      0     0      0      0       0     16     16     16     16     16
Other Income - Interest               2      3      2     2      1      0       1      0      1      2      2      3
GST on Income                        22     19     22    24     25     27      32     37     37     35     31     27
Total Operating Receipts            247    212    243   261    272    303     352    402    409    390    347    306
Operating Payments
Current Payments                     47     48     51     49    27     27      27     27     27     27     27     27
30 day payments                      41    246    283    340   312     82      85     83    100     95     91     55
GST on Purchases                      4     25     28     34    31      8       8      8     10      9      9      5
Quarterly GST payment                69                    6                    2                   79
Company Tax Paid                      8      0      0     54     0      0      78      0      0     89      0      0
Total Operating Payments            168    319    362    483   370    117     201    118    137    300    127     87
Net Operating Cash Flow              78   -106   -119   -223   -98    185     151    284    272     90    219    218    952
Operating Cash Balance             1358   1252   1133    910   812    997    1148   1432   1704   1794   2013   2231
Capex and Loans
Capital Expenditure                   0      0      0      0      0      0      0      0      0      0      0      0      0
Loans Received                        0      0      0      0      0      0      0      0      0      0      0      0      0
Interest on Loans                     9      9      9      9      9      9      8      8      8      8      8      8    103
Loan Principal Repaid                20     21     21     21     21     21     21     22     22     22     22     22    256
Pre-Equity Net Cash Flow            -30    -30    -30    -30    -30    -30    -30    -30    -30    -30    -30    -30   -359
Pre-Equity Cash Balance             -55   -191   -340   -592   -720   -565   -444   -190     52    112    302    490
Equity Funding
Owner's Equity
New Investor's Equity                                                                                                     0
New Convertible Notes                                                        -200                                      -200
Cash Balance after Equity           975    839    690   438    310    465     386    640    882    942   1132   1320
Dividend Paid                         0      0      0     0      0      0       0      0      0      0      0    426    426
Interest on Conv. Notes               2      2      2     2      2      2       2      0      0      0      0      0     11
Formation Expenses
New Equity Net Cash Flow             -2     -2     -2    -2     -2     -2    -202      0      0      0      0   -426   -637
Net Cash Balance                    705    567    417   163     33    187     107    361    602    663    852    614




                                                                 Page 41
                                                           Rocket Science Pty Ltd




                             2003   Jan    Feb    Mar     Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Balance Sheet - $'000
Assets
Current Assets
Cash                                 705    567    417    163     33    187    107    361    602    663    852    614
Stock                                542    646    854   1060    971    867    748    643    534    436    323    223
Debtors                              296    333    357    372    441    522    578    578    547    481    415    314
Total Current Assets                1543   1546   1628   1595   1446   1576   1433   1582   1682   1579   1590   1151

Fixed Assets - depreciated          1980   1959   1937   1915   1893   1872   1850   1828   1807   1785   1763   1742
Formation Expenses                   180    180    180    180    180    180    180    180    180    180    180    180
Total Assets                        3704   3685   3745   3690   3519   3628   3463   3590   3669   3544   3533   3073
Liabilities
Current Liabilities
Overdraft                              0      0      0      0      0      0      0      0      0      0      0      0
Creditors                            246    283    340    312     82     85     83    100     95     91     55     42
GST Payable                           18     13      6    -10    -17      2     23     52     79     26     48     70
Provision for Tax                      0      0     54      0      0     78      0      0     89      0      0     14
Dividend Payable                       0      0      0      0      0      0      0      0      0      0      0      0
Total Current Liabilities            265    295    400    302     65    165    106    152    263    117    103    126

Long Term Liabilities
Secured Loans                       1240   1220   1199   1178   1157   1135   1114   1092   1071   1049   1027   1004
Convertible Notes                    200    200    200    200    200    200      0      0      0      0      0      0
Total Liabilities                   1705   1715   1799   1679   1421   1501   1220   1244   1334   1165   1129   1130

Net Assets                          1999   1970   1945   2010   2098   2127   2242   2346   2335   2379   2403   1942
Shareholders' Equity
Owners' Equity                       517    517    517    517    517    517    517    517    517    517    517    517
Investor's Equity                    700    700    700    700    700    700    700    700    700    700    700    700
Accumulated Profit                   782    753    729    793    881    910   1025   1129   1118   1162   1187    725
Total equity                        1999   1970   1945   2010   2098   2127   2242   2346   2335   2379   2403   1942
Check Balance                          0      0      0      0      0      0      0      0      0      0      0      0




                                                                  Page 42
                                                               Rocket Science Pty Ltd




                              2004    Jan     Feb     Mar     Apr     May      Jun     Jul    Aug     Sep     Oct     Nov     Dec     Total
Sales Forecast
Sales pattern - % per month          6.4%    6.9%    7.4%    7.6%    9.1%    10.3%   10.9%   10.6%   9.8%    8.2%    7.5%    5.3% 100.0%
Product Sales - Tonnes
Product Sales - Pieces        50%     27.2    29.4    31.5    32.3    38.7    43.8    46.4    45.1    41.7    34.9    31.9    22.6    425.5
Product Sales - Powder        50%     37.6    40.5    43.5    44.7    53.5    60.5    64.0    62.3    57.6    48.2    44.1    31.1    587.6
Total Sales - Tonnes                  64.8    69.9    75.0    77.0    92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7   1013.1

Product Sales - $'000
Product Sales - Pieces        3.75   108.9   117.4   125.9   129.3   154.9   175.3   185.5   180.4   166.8   139.6   127.6    90.2   1702.0
Product Sales - Powder        2.75   112.8   121.6   130.4   134.0   160.4   181.6   192.1   186.9   172.7   144.5   132.2    93.4   1762.7
Total Sales - $'000           3.25   221.7   239.1   256.4   263.3   315.3   356.9   377.7   367.3   339.5   284.1   259.9   183.6   3464.7




                                                                        Page 43
                                                            Rocket Science Pty Ltd




                        2004     Jan     Feb     Mar      Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Production, Sales and Stocks Summary
Production and Stocks - Tonnes
Primary Production              204.0   241.9   300.4    266.8     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0   1013.1
Losses and Wastage      0.08%     0.0     0.1     0.3      0.4     0.6     0.5     0.4     0.3     0.2     0.2     0.1     0.1      3.2
Secondary Production             69.9    75.0    77.0     92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7    64.8   1013.1

Raw Product Stock               141.5   308.4   531.5    705.6   600.7   489.8   382.0   282.4   199.1   122.9    69.1     4.2
Finished Goods Stock             69.9    75.0    77.0     92.2   104.3   110.4   107.4    99.3    83.1    76.0    53.7    64.8

Cost Allocations ($'000)
Primary Production
Op Stock + Production           283.7   485.6   745.7    970.5   893.5   796.2   684.8   590.0   492.1   402.8   304.7   206.9
Average $/kg                     1.34    1.27    1.23     1.22    1.27    1.33    1.40    1.54    1.74    2.02    2.48    2.99
Allocation:
Secondary Processing             93.8    94.9    94.3    112.1   132.1   146.4   150.1   153.4   144.8   153.8   133.1   194.1
Losses and Wastage                0.0     0.1     0.3      0.5     0.7     0.7     0.6     0.5     0.4     0.3     0.3     0.2
Raw Product Stock               189.9   390.5   651.1    857.9   760.6   649.2   534.1   436.2   346.9   248.7   171.3    12.7

Secondary Production
Op Stock + Production           320.8   445.4   355.4    328.9   353.0   377.8   387.1   383.7   362.1   348.9   321.2   352.8
Average $/kg                             3.07    2.34     1.94    1.80    1.76    1.78    1.86    1.99    2.19    2.48    2.98
Allocation:
COGS                              0.0   214.9   175.3    149.7   165.6   183.5   196.2   199.4   197.2   182.2   188.2   159.8
Finished Goods Stock            320.8   230.5   180.1    179.2   187.4   194.2   190.8   184.3   165.0   166.7   133.0   193.0

Stock Summary - $'000
Raw Product                     189.9   390.5   651.1    857.9   760.6   649.2   534.1   436.2   346.9   248.7   171.3    12.7
Finished Goods                  320.8   230.5   180.1    179.2   187.4   194.2   190.8   184.3   165.0   166.7   133.0   193.0
Total Closing Stock             510.7   621.0   831.2   1037.1   948.1   843.4   724.9   620.5   511.9   415.4   304.3   205.6




                                                                    Page 44
                                                                Rocket Science Pty Ltd




                          2004     Jan      Feb      Mar       Apr    May    Jun     Jul   Aug    Sep    Oct    Nov    Dec     Total
Primary Production
Production Schedule
Working days in month                25       28       31       26                                                              110
Supply/weather factor              85%      80%      85%      90%                                                             84.9%
No. of processing days               21       22       26       23                                                                93
Operating Hours                     510      538      632      562                                                             2242
Processing efficiency              80%      90%      95%      95%                                                             90.4%

Raw Product - tonnes       500    204.0    241.9    300.4    266.8                                                            1013.1

Raw Materials - tonnes     4.52    923     1094     1359     1207                                                              4583
Direct Production Cost - $'000
Direct Production Costs
Raw Materials              180    166.1    197.0    244.6    217.2                                                             824.9
Freight Inwards            7.5       6.9      8.2    10.2       9.1                                                             34.4
Boiler Fuel                 45     22.8     24.0     28.3     25.1                                                             100.2
Electricity                 11       5.7      6.0      7.0      6.2                                                             24.9
Water                       96       2.0      2.2      2.5      2.2                                                               9.0
Consumables                 10       2.1      2.4      3.0      2.7                                                             10.2
Direct Labour               38     19.3     20.4     24.0     21.3                                                              84.9
Total Primary Production Cost     224.9    260.1    319.6    283.8                                                            1088.5
$/kg product                       1.10     1.08     1.06     1.06                                                              1.07

Primary Factory Overheads
Maintenance Schedule    %/month     5%       5%       5%       5%      5%     5%     5%    15%    15%    15%    15%     5%    100%
Repairs & Maintenance              10.2     10.2     10.2     10.2    10.2   10.2   10.2   30.5   30.5   30.5   30.5   10.2   203.2
Depreciation                       17.8     17.8     17.8     17.8    17.8   17.8   17.8   17.8   17.8   17.8   17.8   17.8   214.1
Insurance                           0.6      0.6      0.6      0.6     0.6    0.6    0.6    0.6    0.6    0.6    0.6    0.6     7.2
Production Manager                  7.0      7.0      7.0      7.0     7.0    7.0    7.0    7.0    7.0    7.0    7.0    7.0    84.0
Total Primary Overheads            35.6     35.6     35.6     35.6    35.6   35.6   35.6   55.9   55.9   55.9   55.9   35.6   508.5

Total Primary Production Cost     260.5    295.8    355.2    319.4    35.6   35.6   35.6   55.9   55.9   55.9   55.9   35.6   2107.6




                                                                        Page 45
                                                              Rocket Science Pty Ltd




                           2004      Jan     Feb     Mar     Apr     May     Jun      Jul    Aug     Sep     Oct     Nov     Dec     Total
Secondary Costs and Management Overheads - $'000
Secondary Production Costs
Direct Production Cost - $'000
Cost of Raw Product Used             93.8    94.9    94.3   112.1   132.1   146.4   150.1   153.4   144.8   153.8   133.1   194.1   1602.8
Losses and Wastage                    0.0     0.1     0.3     0.5     0.7     0.7     0.6     0.5     0.4     0.3     0.3     0.2      4.7
2ndary Production Cost       0.39    27.3    29.3    30.1    36.0    40.8    43.1    42.0    38.8    32.5    29.7    21.0    25.3    395.9
Direct Production Cost              121.1   124.4   124.7   148.6   173.6   190.2   192.7   192.6   177.6   183.8   154.3   219.6   2003.3

Secondary Factory Overheads
Power                                 0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0     0.0      0.3
Forklift                              0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Other                                 0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      0.6
Total Secondary Overheads             0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2     0.2      2.1

Total Secondary Production          121.3   124.6   124.9   148.8   173.8   190.4   192.9   192.8   177.8   184.0   154.5   219.8   2005.4
Total Production Cost/kg             1.74    1.66    1.62    1.61    1.67    1.72    1.80    1.94    2.14    2.42    2.88    3.39     1.98




Management Overheads
Accounting Fees                                       1.0                     1.0                     1.0                     3.0      6.0
Bank Charges             4.9          0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4     0.4      4.9
Directors' Fees                       3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     3.0     36.0
Stationery                            0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1     0.1      1.2
Research & Development                                                                                                                 0.0
Salaries & Wages                     14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    14.0    168.0
Salary on-costs         15.8%         3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     3.3     39.7
Telephone                             1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Travel                                1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     1.0     12.0
Total Management Overheads           22.8    22.8    23.8    22.8    22.8    23.8    22.8    22.8    23.8    22.8    22.8    25.8    279.9




                                                                       Page 46
                                                                   Rocket Science Pty Ltd




                            2004      Jan      Feb      Mar      Apr      May      Jun       Jul     Aug      Sep      Oct      Nov      Dec     Total
Profit & Loss ($'000)
Sales
Total Sales                 3.25     210.7    227.2    243.6    250.2    299.6    339.1    358.9    349.0    322.7    270.0    246.9    174.5   3292.5
Cost of Goods Sold
Opening Stock                        222.7    510.7    621.0    831.2   1037.1    948.1    843.4    724.9    620.5    511.9    415.4    304.3    222.7
Primary Production Cost              260.5    295.8    355.2    319.4     35.6     35.6     35.6     55.9     55.9     55.9     55.9     35.6   1597.0
Losses and Wastage                     0.0     -0.1     -0.3     -0.5     -0.7     -0.7     -0.6     -0.5     -0.4     -0.3     -0.3     -0.2     -4.7
Secondary Production Cost             27.5     29.6     30.6     36.7     41.7     44.0     42.7     39.5     33.0     30.2     21.4     25.7    402.6
Closing Stock                        510.7    621.0    831.2   1037.1    948.1    843.4    724.9    620.5    511.9    415.4    304.3    205.6    205.6
Cost of Goods Sold                     0.0    214.9    175.3    149.7    165.6    183.5    196.2    199.4    197.2    182.2    188.2    159.8   2012.0
Check COGS figure                      0.0    214.9    175.3    149.7    165.6    183.5    196.2    199.4    197.2    182.2    188.2    159.8   2012.0

Gross Margin                         210.7     12.3     68.3    100.6    134.0    155.6    162.6    149.7    125.5     87.7     58.7     14.7   1280.5
%                                                     28.0%    40.2%    44.7%    45.9%    45.3%    42.9%    38.9%    32.5%    23.8%     8.4%    38.9%

Management Overheads                  22.8     22.8     23.8     22.8     22.8     23.8     22.8     22.8     23.8     22.8     22.8     25.8    279.9
EBIT                                 187.9    -10.5     44.5     77.7    111.2    131.8    139.8    126.8    101.7     64.9     35.9    -11.1   1000.6

Interest on Loans                      7.5      7.3      7.1      7.0      6.8      6.7      6.5      6.3      6.1      6.0      5.8      5.6     78.7
Interest on Conv. Notes     9.50%      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
Net Operating Profit                 180.4    -17.8     37.4     70.8    104.4    125.1    133.3    120.5     95.5     58.9     30.1    -16.7    921.9

Other Income
R&D Grant Receivable         60%       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
Interest on Cash Balance    4.50%      2.3      2.5      2.0      1.4      0.5      0.0      0.7      1.2      2.2      3.2      3.4      4.1     23.3
Net Profit before Tax                182.7    -15.4     39.3     72.2    104.8    125.1    134.0    121.7     97.7     62.1     33.5    -12.6    945.2

Accumulated NPBT                    1827.6   1812.2   1851.6   1923.8   2028.6   2153.7   2287.7   2409.4   2507.1   2569.2   2602.7   2590.1
Cumulative monthly tax      30%      548.3    543.7    555.5    577.1    608.6    646.1    686.3    722.8    752.1    770.8    780.8    777.0
Cumulative quarterly tax                               555.5                      646.1                      752.1                      777.0
Quarterly Tax payable                                   62.0                       90.6                      106.0                       24.9    283.6
Net Profit after Tax                 182.7    -15.4    -22.7     72.2    104.8     34.5    134.0    121.7     -8.3     62.1     33.5    -37.5    661.6

Dividend Payable                                                                                                                        548.9    548.9
YTD Profit                           182.7    167.4    144.7    216.9    321.7    356.2    490.2    611.9    603.6    665.7    699.1    112.7




                                                                            Page 47
                                                          Rocket Science Pty Ltd




                            2004   Jan    Feb    Mar     Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Cash Flow - $'000
Operating Cash Flow
Operating Receipts
Sales                               211    193    219    235    247    275    319    349    354    336    296    258
Other Income - R&D Grant             16      0      0      0      0      0      0      0      0      0      0      0
Other Income - Interest               2      2      2      1      0      0      1      1      2      3      3      4
GST on Income                        23     19     22     24     25     27     32     35     35     34     30     26
Total Operating Receipts            252    214    243    260    272    302    352    385    392    373    329    288
Operating Payments
Current Payments                     47     48     51     49     27     27     27     27     27     27     27     27
30 day payments                      42    246    283    340    312     54     58     55     73     67     63     55
GST on Purchases                      4     25     28     34     31      5      6      5      7      7      6      5
Quarterly GST payment                70                    7                    5                   84
Company Tax Paid                     14      0      0     62      0      0     91      0      0    106      0      0
Total Operating Payments            177    319    362    492    370     87    186     88    107    291     97     87
Net Operating Cash Flow              75   -104   -119   -231    -98    215    166    297    284     82    232    201    999
Operating Cash Balance             2307   2203   2083   1852   1754   1969   2135   2432   2716   2798   3030   3231
Capex and Loans
Capital Expenditure                   0      0      0      0      0      0      0      0      0      0      0      0      0
Loans Received                        0      0      0      0      0      0      0      0      0      0      0      0      0
Interest on Loans                     7      7      7      7      7      7      6      6      6      6      6      6     79
Loan Principal Repaid                21     21     21     22     22     22     22     22     22     23     23     23    265
Pre-Equity Net Cash Flow            -29    -29    -29    -29    -29    -29    -29    -29    -29    -29    -29    -29   -343
Pre-Equity Cash Balance             537    404    256     -4   -131     56    193    461    717    770    973   1146
Equity Funding
Owner's Equity
New Investor's Equity                                                                                                     0
New Convertible Notes                                                                                                     0
Cash Balance after Equity          1367   1234   1086    826    699    886   1023   1291   1547   1600   1803   1976
Dividend Paid                         0      0      0      0      0      0      0      0      0      0      0    549    549
Interest on Conv. Notes               0      0      0      0      0      0      0      0      0      0      0      0      0
Formation Expenses
New Equity Net Cash Flow              0      0      0      0      0      0      0      0      0      0      0   -549   -549
Net Cash Balance                    661    528    380    120     -7    180    317    586    841    894   1098    721




                                                                 Page 48
                                                           Rocket Science Pty Ltd




                             2004   Jan    Feb    Mar     Apr   May    Jun     Jul   Aug    Sep     Oct   Nov    Dec    Total
Balance Sheet - $'000
Assets
Current Assets
Cash                                 661    528    380    120      0    180    317    586    841    894   1098    721
Stock                                511    621    831   1037    948    843    725    620    512    415    304    206
Debtors                              298    333    357    372    425    489    528    528    497    431    382    298
Total Current Assets                1470   1482   1569   1530   1373   1513   1571   1734   1850   1741   1784   1225

Fixed Assets - depreciated          1724   1706   1688   1670   1652   1634   1617   1599   1581   1563   1545   1527
Formation Expenses                   180    180    180    180    180    180    180    180    180    180    180    180
Total Assets                        3373   3368   3437   3380   3205   3327   3367   3513   3611   3484   3509   2932
Liabilities
Current Liabilities
Overdraft                              0      0      0      0      7      0      0      0      0      0      0      0
Creditors                            246    283    340    312     54     58     55     73     67     63     55     42
GST Payable                           19     13      7    -10    -17      5     26     56     84     27     50     71
Provision for Tax                      0      0     62      0      0     91      0      0    106      0      0     25
Dividend Payable                       0      0      0      0      0      0      0      0      0      0      0      0
Total Current Liabilities            265    296    409    302     44    153     82    128    257     90    105    137

Long Term Liabilities
Secured Loans                        983    962    941    919    897    875    853    831    808    786    763    740
Convertible Notes                      0      0      0      0      0      0      0      0      0      0      0      0
Total Liabilities                   1248   1258   1350   1220    941   1029    935    959   1065    876    868    877

Net Assets                          2125   2110   2087   2159   2264   2299   2433   2554   2546   2608   2642   2055
Shareholders' Equity
Owners' Equity                       517    517    517    517    517    517    517    517    517    517    517    517
Investor's Equity                    700    700    700    700    700    700    700    700    700    700    700    700
Accumulated Profit                   908    893    870    942   1047   1082   1216   1337   1329   1391   1425    838
Total equity                        2125   2110   2087   2159   2264   2299   2433   2554   2546   2608   2642   2055
Check Balance                          0      0      0      0      0      0      0      0      0      0      0      0




                                                                  Page 49
                                         Rocket Science Pty Ltd
                                               Returns

                                               2000      2001      2002   2003   2004
Valuation Methods
EBIT Method
EBIT                                                                             1001
Business value @ EBIT multiple    3.5                                            3502
Less: long-term debt                                                              875
Net Value of business                                                            2627

Pre-Tax Method
NPBT                                                                              945
Value @ NPBT multiple             3.5                                            3308

After-Tax Method
NPAT                                                                              662
Value @ NPAT multiple             5.0                                            3308

Net Present Value
Equity Investment                             -1317      -730       769   637       0
Capex and Loans                                -665       359       359   359     343
Net Operating Cash Flow                         -71       334      1017   952     999
Terminal Value                                                                   2627
Net Operating Cash Flow                       -2053          -38   2144   1948   3969
Project NPV @ (discount rate)    25.0%       $1,530
Pre-Investment Value                            830

Net Assets                                      517                              2055
Net Tangible Assets                             337                              1875




                                             Page 50 of 51
                                         Rocket Science Pty Ltd
                                               Returns

Returns on Investment
Project Return
Owners' Investment                              517
New Equity Investment                           700         0         0       0        0
Net Conv. Note Investment                       100       800      -700    -200        0
Base Conv Note Balance                          100       900       200       0
Conversion to shares                                                          0
Final Conv Note Balance                         100       900       200       0        0
Total "Equity" Investment                      1317      2117      1417    1217     1217

Dividends                                                     0       0     426      549
Interest on Conv. Note                                       70      69      11        0
Terminal Value                                                                      3308
Net Project Cash Flow                         -1317      -730       769     637     3857
Project IRR                     34.6%

Return to Equity Investor
New Equity                                      700         0         0        0
New Convertible Notes                           100       800      -700     -200
Total Equity Investment                         800      1600       900      700     700
Issued shares @             $     1.50          467         0         0        0       0
Conversion to shares @      $     1.50                                         0
Total Shares                                   467       467        467      467     467
% ownership                                  47.4%     47.4%      47.4%   47.4%    47.4%

Share of Dividend                                                     0     202      260
Interest on Conv. Note                                       70      69      11        0
Share of sale of business                                                           1569
Net Investor Cash Flow                         -800      -730       769     413     1830
IRR to Equity Investor          27.2%

Return to Owners
New Equity Investment                          517
Total Equity Investment                        517       517        517     517      517
Number of shares @          $     1.00         517       517        517     517      517
% ownership                                  52.6%     52.6%      52.6%   52.6%    52.6%

Share of Dividend                                                     0     224      289
Share of sale of business                                                           1739
Owners' Cash Flow                              -517          0        0     224     2027
IRR to Owners                   46.1%




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