Financal Models

Bill Snow Financial Projections Assumptions Selected Financial Highlights Total Investment Year 1 $ 1,000,000 426,806 101,033 527,839 142,692 385,147 Year 2 $ 2,000,000 $ 3,074,794 $ 929,890 $ 442,700 $ $ 4,447,383 $ 855,925 $ Year 3 - $ Year 4 - $ Year 5 - 5 year total 3,000,000 39,051,488 12,412,520 6,075,300 57,539,308 8,043,905 49,495,403 4,724,144 12,094,953 2,341,323 12,049,980 271,394 31,481,794 18,013,609 10,708,396 18,285,003 5,853,365 REVENUE Subscription $ Total Transactions $ Company Marketing $ Advertising $ Total Revenue $ Cost of Goods Sold Gross Profit Expenses Sales & Marketing Operations IT Office & Admin Depr & Amort Total expenses EBIT Net earnings EBITDA Free Cash Flow Total team members Rev/team member Markets Trial Users Subscribers Companies Certificates redeemed Ending cash Development costs* $ $ $ 81% 19% 0% 0% 100% 27% 73% 69% 21% 10% 0% 100% 19% 81% $ 7,350,863 $ 2,237,313 $ 1,079,900 $ $ 10,668,076 $ 1,826,898 $ 8,841,177 $ $ $ $ $ $ 1,154,913 2,262,468 292,750 2,875,036 49,369 6,634,535 69% 21% 10% 0% 100% 17% 83% $ 11,849,963 $ 3,744,666 $ 1,844,700 $ $ 17,439,329 $ 2,388,465 $ 15,050,863 $ $ $ $ $ $ 1,387,481 3,704,637 346,500 3,454,769 86,741 8,980,128 68% 21% 11% 0% 100% 14% 86% $ 16,349,063 $ 5,399,619 $ 2,708,000 $ $ 24,456,682 $ 2,829,924 $ 21,626,757 $ 1,625,435 $ 5,251,802 $ 413,688 $ 3,937,821 $ 113,381 $ 11,342,127 $ 10,284,630 $ 6,152,778 $ 10,398,011 $ 4,858,975 56 436,726 18 83,884 1,148,954 5,227 3,599,746 $ 9,888,365 Year 5 $ - 67% 22% 11% 0% 100% 12% 88% $ 3,591,458 $ 463,838 $ 774,942 $ 615,469 $ 1,542,059 $ 20,039 $ 3,416,346 $ $ $ $ 175,112 145,112 195,150 (655,580) 27 164,718 6 23,896 135,796 1,183 619,926 $ 1,544,694 Year 2 $ 92,477 $ 101,105 $ 672,917 $ 240,295 $ 1,864 $ 1,108,658 $ $ $ $ (723,511) (751,011) (721,647) (974,727) 9 58,649 2 29,640 17,072 316 67,355 65,273 Year 1 18% 19% 127% 46% 0% 210% -137% -142% -137% -185% 10% 17% 14% 35% 0% 77% 4% 3% 4% -15% 11% 21% 3% 27% 0% 62% 21% 14% 21% 2% 8% 21% 2% 20% 0% 51% 35% 21% 35% 14% 7% 21% 2% 16% 0% 46% 42% 25% 43% 20% $ 2,206,642 $ 1,537,076 $ 2,256,011 $ 233,981 44 242,456 10 43,892 393,961 2,365 1,491,542 $ 2,098,675 Year 3 $ - $ 6,070,735 $ 3,624,441 $ 6,157,476 $ 2,390,715 52 335,372 14 63,888 751,578 3,712 2,496,444 $ 4,749,390 Year 4 $ - 18 83,884 1,148,954 5,227 3,599,746 5 year total 1,150,000 $ 650,000 $ 500,000 * Development costs are expensed, and included in IT expense Bill Snow Financial Projections Assumptions Bill Snow Financial Projections Assumptions You can change any number that is blue Stage Pre Launch 1.0 2.0 3.0 Revenue 0 500,000 2,500,000 10,000,000 25,000,000 Make adjustments to certain assumptions (in blue). For quick reference, use the Selected Financial Highlights to the left For every employee hired, this amount will be spent of equipment, computers, etc.5,000 $ Make adjustments here Annual fee paid by customers $ 25.00 Make adjustments here No. of transactions/mo/company during trial phase 1.0 Make adjustments here No. of transactions/mo/company during customer phase 0.75 Make adjustments here % of trial users will become members 75% Make adjustments here Max. No. of Transactions per company (trail) 50 Make adjustments here Max. No. of Transactions per company (customers) 50 Make adjustments here Revenue per transaction $ 1.50 Make adjustments here Company marketing revenue (per mo per member company) $ 100 Make adjustments here % of new companies that will join Company marketing 0% Make adjustments here % of existing companies that will join Company mkting 50% Make adjustments here Accounts Receivable (% of previous mo's rev) Market Calculator (see the calculator tab) Beg. Mo 1 7 13 19 25 End Mo. 6 12 18 24 60 3 Mos. Between adding new market 5.0 5.0 3.0 3.0 3.0 200 50000 Year 1 2 3 4 5 "Toggle" assumptions - Adjust these assumptions to make changes in the Model 150% Start month Make adjustments here Subscriber Calculator (see the calculator tab) Beg. Mo 1 7 10 13 25 End Mo. 6 9 12 24 60 Mo. Growth Rate 75.00% 15.00% 0.00% 0.00% 0.00% # of Trial Users (1st mo) Max number of users in a mkt Annual Attrition 0.00% 25.00% 30.00% 35.00% 40.00% Company Calculator (see the calculator tab) Beg. Mo. 1 7 10 13 25 End. Mo 6 9 12 24 60 Mo. Growth Rate 50.00% 10.00% 5.00% 2.00% 1.00% 20 # of companies (1st mo) 5,000 Max companies per market Annual Year Attrition 1 0.00% 2 10.00% 3 15.00% 4 20.00% 5 25.00% Bill Snow Financial Projections Assumptions Bill Snow Financial Projections Assumptions Assumptions Revenue 2004 2005 2006 2007 2008 Pre Launch 2004 5,000.00 5,000.00 3,000.00 0.75 1.00 0.15 186,582 2.0 2005 5,000.00 5,000.00 2,500.00 0.75 1.00 0.15 643,549 3.0 2006 5,000.00 5,000.00 2,000.00 0.75 1.00 0.15 1,198,043 3.0 2007 5,000.00 5,000.00 2,000.00 0.75 1.00 0.15 1,773,387 3.0 2008 5,000.00 5,000.00 2,000.00 0.75 1.00 0.15 24,456,682 Company Stage Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs one time fee one time fee per month per city per certificate (capped at $100K) per new subscriber per certificate EXPENSES Sales & Marketing Sales & Mkting - Salaries 2004 2005 2006 2007 2008 Payroll tax Consumer Mkting Marketing Branding Total Consumer Mkting Company Mkting Commissions Association Mkting Total Company Mkting Other Mkting Exp Trade Show - Chgo Trade Shows - Other Meals & Ent Designer Promotions/Postage Travel Expense Printing $ $ $ $ 3,250.00 1,000.00 $ $ 4,350.00 5,250.00 $ $ 5,000.00 11,000.00 $ $ 5,600.00 17,000.00 Calculated on "revenue" page Calculated on "revenue" page 25.00 0.00 25.00 500.00 25.00 500.00 25.00 500.00 25.00 500.00 per new restaurant per month per city 0.00 0.00 2,000.00 2,000.00 0.00 100.00 0.00 25.00 2,000.00 1,000.00 150.00 250.00 10,000.00 50.00 2,000.00 1,000.00 150.00 500.00 10,000.00 50.00 2,000.00 1,000.00 150.00 500.00 10,000.00 In May of each year per month per employee per month 2,000.00 one time fee (for each new city) 50.00 1,000.00 150.00 500.00 one time fee (for each new city) per employee per month per month Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support 2,000.00 10.00 0.25 2,000.00 10.00 0.25 2,000.00 10.00 0.25 2,000.00 10.00 0.25 2,000.00 10.00 per month per month per restaurant 0.25 per month per consumer Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense 500.00 1,000.00 2,000.00 2,000.00 2,000.00 per month 100.00 200.00 100.00 400.00 150.00 400.00 0.05 500.00 100.00 0.00 1,000.00 200.00 0.00 150.00 50.00 50.00 200.00 175.00 100.00 100.00 200.00 100.00 500.00 200.00 600.00 0.04 600.00 100.00 0.00 1,500.00 200.00 0.00 200.00 100.00 100.00 250.00 200.00 150.00 100.00 200.00 100.00 600.00 250.00 750.00 0.04 700.00 100.00 0.00 2,500.00 200.00 0.00 400.00 100.00 100.00 250.00 250.00 200.00 100.00 200.00 100.00 600.00 250.00 750.00 0.04 700.00 100.00 0.00 2,500.00 200.00 0.00 400.00 100.00 100.00 250.00 250.00 200.00 100.00 200.00 100.00 600.00 250.00 750.00 0.04 700.00 100.00 0.00 2,500.00 200.00 0.00 400.00 100.00 100.00 250.00 250.00 200.00 per month per employee per month per employee per month per employee per month per employee per month per employee per month % of revenue per month per month % of revenue per month per month per employee Calculated in IS per month per employee per month per employee per month per employee per month per employee per month per employee per month per employee Bill Snow Financial Projections Assumptions Basic ratios and rates Interest rate (received) Interest rate (paid) Corporate tax rate Payroll tax expense Rent - dollar per square foot $ Square foot per employee, average Per employee hired (equipment, computers, furniture, etc.) $ Consumer annual fee $ Certificates/mo/restaurant (trial phase) Certificates/mo/restaurants (Customer phase) % of trial users will become members Max. No. of Transactions per rest. (trail) Max. No. of Transactions per rest. (customers) Revenue per certificate (transaction) CMS revenue (per mo per member rest.) % of new rest that will join CMS % of existing rest that will join CMS Balance Sheet Assumptions Accounts Receivable Accounts payable Accrued liabilities Depreciation schedule - Transaction Equipment Purchase when monthly cost = 100,000 Purchase price 100,000 Monthly cost stays constant at 100,000 0% 10% 40% 7.5% 12 200 5,000 25.00 1.0 0.75 75% 50 50 1.5 100.00 0% 50% Make Make Make Make Make Make adjustments adjustments adjustments adjustments adjustments adjustments here here here here here here $ 150% of last month's sales 100% of certain expenses (previous mo.) Rent Calculator Note: Rent expense is estimated by multiply the estimated number of employees (at year end) by the average amount of space per employee. This yields "square foot, cumulative," and is multiplied by the avg rent/square foot to determine est. rent exp 2004 2005 2006 2007 2008 Square footage, cumulative 1,800 5,400 8,800 10,400 11,200 Rent expense 21,600 64,800 105,600 124,800 134,400 Bill Snow Financial Model Projected Financial Statements Jan-04 1 Feb-04 2 459,208 Mar-04 3 420,940 Apr-04 4 353,389 May-04 5 303,931 Jun-04 6 740,119 Jul-04 7 692,025 Aug-04 8 563,990 Sep-04 9 425,001 Oct-04 10 330,581 Nov-04 11 214,190 Dec-04 12 138,708 2004 Totals % Projected I/S Starting Cash Investment Equity Debt Debt/equity added (deducted) in period Company Stage REVENUE Subscription Transactions - Trial Users Transactions - Customers Total Transactions Company Marketing Advertising Total Revenue Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs Total COGS Gross Profit EXPENSES Sales & Marketing Sales & Mkting - Salaries Payroll tax Total Company Mkting Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense Total Office & Admin Depreciation Amortization Total Expenses EBIT Interest Expense Interest Income EBT Allowance for tax Net earnings Adjustments Interest, net Tax Deprec & Amort Total adjustments EBITDA Free Cash Flow - 250,000 250,000 500,000 Pre Launch Pre Launch Pre Launch Pre Launch 500,000 500,000 Pre Launch Pre Launch 1.0 1.0 1.0 1.0 1.0 1.0 750,000 250,000 1,000,000 1.0 - - 300 300 300 3,750 525 169 694 4,444 6,563 920 464 1,384 7,946 11,494 1,610 981 2,591 14,085 20,119 2,817 1,887 4,704 24,822 35,213 5,231 3,471 8,702 43,914 65,381 6,195 6,413 12,608 77,990 77,438 7,440 9,898 17,338 94,776 93,000 9,108 14,083 23,191 116,191 113,850 10,316 19,206 29,522 143,372 426,806 44,460 56,573 101,033 527,839 80.9% 8.4% 10.7% 19.1% 0.0% 0.0% 100.0% - - 5,000 5,000 3,000 150 30 13,180 (12,880) 3,000 347 150 69 3,566 878 3,000 692 263 138 4,093 3,853 3,000 1,295 460 259 5,014 9,070 3,000 2,352 805 470 6,627 18,195 5,000 5,000 6,000 4,351 1,409 870 22,630 21,285 6,000 6,304 2,615 1,261 16,180 61,809 6,000 8,669 3,098 1,734 19,500 75,275 6,000 11,596 3,720 2,319 23,635 92,556 6,000 14,761 4,554 2,952 28,267 115,105 10,000 10,000 45,000 50,516 17,072 10,103 142,692 385,147 1.9% 1.9% 8.5% 9.6% 3.2% 1.9% 27.0% 73.0% 3,333 250 3,583 33,333 33,333 100 200 100 400 150 400 500 100 1,000 200 150 50 50 200 175 100 3,875 40,792 (40,792) (40,792) (40,792) (40,792) (40,792) 3,333 250 3,583 33,333 33,333 100 200 100 400 150 400 500 100 1,000 200 150 50 50 200 175 100 3,875 40,792 (40,792) (2,500) (43,292) (43,292) 2,500 2,500 (40,792) (38,268) 500 4,100 6,100 3,333 250 2,000 200 50 5,833 500 33,333 33,833 100 200 100 400 150 400 15 500 100 0 1,000 200 1,800 150 50 50 200 175 100 5,690 51,457 (64,337) (2,500) (66,837) (66,837) 2,500 2,500 (64,337) (67,551) 250 100 1,850 3,333 250 2,000 300 125 6,008 500 33,333 33,833 100 200 100 400 150 400 222 500 100 4 1,000 200 1,800 150 50 50 200 175 100 5,902 47,593 (46,716) (2,500) (49,216) (49,216) 2,500 2,500 (46,716) (49,457) 375 10,100 11,975 3,333 250 2,000 450 256 6,290 500 33,333 33,833 100 200 100 400 150 400 397 500 100 8 1,000 200 1,800 150 50 50 200 175 100 6,080 58,178 (54,325) (2,500) (56,825) (56,825) 2,500 2,500 (54,325) (63,813) 575 100 2,175 3,333 250 2,000 680 486 6,750 500 33,333 33,833 100 200 100 400 150 400 704 500 100 14 1,000 200 1,800 150 50 50 200 175 100 6,393 49,151 (40,081) (2,500) (42,581) (42,581) 2,500 2,500 (40,081) (48,093) 2,000 150 1,350 100 5,100 3,333 250 2,000 1,020 889 7,492 500 75,000 75,500 10,833 813 500 1,000 500 2,000 750 400 1,241 500 500 25 1,000 1,000 1,800 750 250 250 1,000 875 500 26,487 114,579 (96,383) (2,500) (98,883) (98,883) 2,500 2,500 (96,383) (128,036) 6,917 519 2,775 4,100 17,310 3,333 250 2,000 1,730 1,643 8,956 3,333 250 500 75,000 79,083 10,833 813 800 1,600 800 3,200 1,200 400 2,196 500 800 44 1,000 1,600 1,800 1,200 400 400 1,600 1,400 800 33,385 238 138,974 (117,689) (2,500) (120,189) (120,189) 2,500 238 2,738 (117,451) (138,988) 6,917 519 1,625 100 11,660 3,333 250 2,000 1,980 2,458 10,021 3,333 250 500 75,000 79,083 10,833 813 800 1,600 800 3,200 1,200 400 3,899 500 800 78 1,000 1,600 1,800 1,200 400 400 1,600 1,400 800 35,123 414 136,302 (74,493) (2,500) (76,993) (76,993) 2,500 414 2,914 (74,079) (94,420) 6,917 519 1,800 100 11,835 3,333 250 2,000 2,300 3,440 11,323 3,333 250 500 75,000 79,083 10,833 813 800 1,600 800 3,200 1,200 400 4,739 500 800 95 1,000 1,600 1,800 1,200 400 400 1,600 1,400 800 35,979 409 138,630 (63,355) (2,500) (65,855) (65,855) 2,500 409 2,909 (62,946) (116,391) 6,917 519 2,050 100 12,085 3,333 250 2,000 2,720 4,648 12,951 3,333 250 500 75,000 79,083 10,833 813 800 1,600 800 3,200 1,200 400 5,810 500 800 116 1,000 1,600 1,800 1,200 400 400 1,600 1,400 800 37,072 404 141,595 (49,039) (2,500) (51,539) (51,539) 2,500 404 2,904 (48,635) (75,481) 6,917 519 2,100 100 12,385 6,667 500 2,000 3,160 5,987 18,314 3,333 250 500 75,000 79,083 10,833 813 900 1,800 900 3,600 1,350 400 7,169 500 900 143 1,000 1,800 1,800 1,350 450 450 1,800 1,575 900 40,433 399 150,615 (35,510) (2,500) (38,010) (38,010) 2,500 399 2,899 (35,111) (73,435) 36,583 2,744 13,400 19,000 92,477 43,333 3,250 20,000 14,540 19,982 101,105 16,667 1,250 5,000 650,000 672,917 65,000 4,875 5,200 10,400 5,200 20,800 7,800 4,800 26,392 6,000 5,200 528 12,000 10,400 18,000 7,800 2,600 2,600 10,400 9,100 5,200 240,295 1,864 6.9% 0.5% 2.5% 3.6% 17.5% 8.2% 0.6% 3.8% 2.8% 3.8% 19.2% 3.2% 0.2% 0.9% 123.1% 127.5% 12.3% 0.9% 1.0% 2.0% 1.0% 3.9% 1.5% 0.9% 5.0% 1.1% 1.0% 0.1% 2.3% 2.0% 3.4% 1.5% 0.5% 0.5% 2.0% 1.7% 1.0% 45.5% 0.4% 1,108,658 210.0% (723,511) -137.1% (27,500) -5.2% 0.0% (751,011) -142.3% 0.0% (751,011) -142.3% 0.0% 27,500 5.2% 0.0% 1,864 0.4% 29,364 5.6% (721,647) -136.7% (974,727) -184.7% Bill Snow Financial Model Projected Financial Statements Jan-04 1 Feb-04 2 Mar-04 3 Apr-04 4 May-04 5 Jun-04 6 Jul-04 7 Aug-04 8 Sep-04 9 Oct-04 10 Nov-04 11 Dec-04 12 2004 Totals % Projected B/S ASSETS Current assets Cash A/R Prepaid exp Inventory Other current assets Total current assets Property/equip, net Other LT assets Goodwill, net Total assets LIABILITIES Current Liabilities A/P Other Current Liab Total current liabilities LT Note Total liabilities EQUITY Capital Retained earnings Total equity Total liabilities and equity 250,000 (40,792) 209,208 459,208 250,000 (84,083) 165,917 420,940 250,000 (150,920) 99,080 353,389 250,000 (200,136) 49,864 304,381 750,000 (256,961) 493,039 746,784 750,000 (299,542) 450,458 703,944 750,000 (398,425) 351,575 605,116 750,000 (518,614) 231,386 496,997 750,000 (595,607) 154,393 430,801 750,000 (661,462) 88,538 365,113 750,000 (713,001) 36,999 314,407 750,000 (751,011) (1,011) 277,696 750,000 (751,011) (1,011) 277,696 459,208 459,208 459,208 420,940 420,940 420,940 353,389 353,389 353,389 303,931 450 304,381 304,381 740,119 6,666 746,784 746,784 692,025 11,919 703,944 703,944 563,990 21,127 585,116 20,000 605,116 425,001 37,234 462,235 34,762 496,997 330,581 65,871 396,453 34,348 430,801 214,190 116,984 331,174 33,939 365,113 138,708 142,163 280,872 33,535 314,407 65,273 174,287 239,560 38,136 277,696 65,273 174,287 239,560 38,136 277,696 250,000 250,000 5,738 5,738 249,286 255,023 5,738 5,738 248,571 254,309 6,660 6,660 247,857 254,518 6,602 6,602 247,143 253,745 7,058 7,058 246,429 253,486 7,827 7,827 245,714 253,542 20,611 20,611 245,000 265,611 32,122 32,122 244,286 276,408 33,004 33,004 243,571 276,575 34,550 34,550 242,857 277,407 36,564 36,564 242,143 278,706 36,564 36,564 242,143 36,564 Projected CFS Cash Flow from Operations Net Income Adjustments Depreciation Amortization Change in inventory Change in A/R Change in A/P Cash from operations Cash Flow from Investing Purchase/sale of equip Acquisitions Cash from Investing Activities Cash Flow from Financing Proceeds from equity, net Proceeds from debt, net Cash from Financing Activities Beginning cash balance Increase (decrease) in cash Ending cash balance (40,792) (40,792) (43,292) 5,738 (37,554) (66,837) (66,837) (49,216) (450) 923 (48,743) (56,825) (6,216) (58) (63,098) (42,581) (5,253) 455 (47,379) (98,883) (9,208) 770 (107,322) (120,189) 238 (16,107) 12,784 (123,274) (76,993) 414 (28,638) 11,511 (93,706) (65,855) 409 (51,113) 882 (115,677) (51,539) 404 (25,179) 1,547 (74,767) (38,010) 399 (32,123) 2,013 (67,721) (751,011) 1,864 (174,287) 36,564 (886,869) - - - - - - (20,000) (20,000) (15,000) (15,000) - - - (5,000) (5,000) (40,000) (40,000) 250,000 250,000 500,000 459,208 459,208 (714) (714) 459,208 (38,268) 420,940 (714) (714) 420,940 (67,551) 353,389 (714) (714) 353,389 (49,457) 303,931 500,000 (714) 499,286 303,931 436,187 740,119 (714) (714) 740,119 (48,093) 692,025 (714) (714) 692,025 (128,036) 563,990 (714) (714) 563,990 (138,988) 425,001 (714) (714) 425,001 (94,420) 330,581 (714) (714) 330,581 (116,391) 214,190 (714) (714) 214,190 (75,481) 138,708 (714) (714) 138,708 (73,435) 65,273 750,000 242,143 992,143 65,273 65,273 Bill Snow Financial Model Projected Financial Statements Jan-05 13 Feb-05 14 1,847,830 Mar-05 15 1,784,624 Apr-05 16 1,695,304 May-05 17 1,573,101 Jun-05 18 1,509,261 Jul-05 19 1,451,826 Aug-05 20 1,403,253 Sep-05 21 1,380,337 Oct-05 22 1,385,759 Nov-05 23 1,408,921 Dec-05 24 1,446,589 2005 Totals % Projected I/S Starting Cash 65,273 Investment Equity 2,000,000 Debt Debt/equity added (deducted) in period2,000,000 Company Stage REVENUE Subscription Transactions - Trial Users Transactions - Customers Total Transactions Company Marketing Advertising Total Revenue Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs Total COGS Gross Profit EXPENSES Sales & Marketing Sales & Mkting - Salaries Payroll tax Total Company Mkting Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense Total Office & Admin Depreciation Amortization Total Expenses EBIT Interest Expense Interest Income EBT Allowance for tax Net earnings Adjustments Interest, net Tax Deprec & Amort Total adjustments EBITDA Free Cash Flow 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2,000,000 2,000,000 2.0 128,944 12,729 25,009 37,738 19,900 186,582 159,113 13,694 32,169 45,862 21,700 226,675 171,169 14,939 35,175 50,114 23,500 244,782 186,731 16,907 40,275 57,182 26,900 270,813 211,331 18,339 44,700 63,039 29,800 304,170 229,238 20,847 50,775 71,622 33,900 334,760 260,588 22,577 56,250 78,827 37,500 376,914 282,206 24,860 61,275 86,135 40,900 409,241 310,744 28,346 68,775 97,121 45,900 453,764 354,319 30,075 74,550 104,625 49,700 508,644 375,938 32,358 80,700 113,058 53,800 542,796 404,475 35,844 88,725 124,569 59,200 588,244 3,074,794 271,512 658,378 929,890 442,700 4,447,383 69.1% 6.1% 14.8% 20.9% 10.0% 0.0% 100.0% 5,000 5,000 7,500 18,869 5,158 3,774 45,300 141,281 7,500 22,931 6,365 4,586 41,382 185,293 7,500 25,057 6,847 5,011 44,415 200,367 5,000 5,000 10,000 28,591 7,469 5,718 61,778 209,035 10,000 31,520 8,453 6,304 56,277 247,894 10,000 35,811 9,170 7,162 62,143 272,617 5,000 5,000 12,500 39,413 10,424 7,883 80,219 296,695 12,500 43,067 11,288 8,613 75,469 333,772 12,500 48,560 12,430 9,712 83,202 370,562 5,000 5,000 15,000 52,313 14,173 10,463 101,948 406,696 15,000 56,529 15,038 11,306 97,872 444,923 15,000 62,285 16,179 12,457 105,920 482,324 20,000 20,000 135,000 464,945 122,992 92,989 855,925 3,591,458 0.4% 0.4% 3.0% 10.5% 2.8% 2.1% 19.2% 80.8% 13,917 1,044 3,550 6,575 29,335 30,000 2,250 2,000 3,980 7,679 45,909 4,583 344 1,000 41,667 47,594 37,917 2,844 1,900 3,800 1,900 9,500 3,800 600 7,463 600 1,900 19 1,500 3,800 5,400 3,800 1,900 1,900 4,750 3,800 2,850 101,942 454 225,235 (83,953) (2,500) (86,453) (86,453) 2,500 454 2,954 (83,499) (217,443) 13,917 1,044 2,400 3,575 24,685 30,000 2,250 2,000 4,340 9,431 48,021 4,583 344 1,000 41,667 47,594 37,917 2,844 1,900 3,800 1,900 9,500 3,800 600 9,067 600 1,900 23 1,500 3,800 5,400 3,800 1,900 1,900 4,750 3,800 2,850 103,550 1,580 225,430 (40,137) (2,500) (42,637) (42,637) 2,500 1,580 4,080 (38,557) (63,206) 13,917 1,044 2,375 3,575 24,860 30,000 2,250 2,000 4,690 11,350 50,290 4,583 344 1,000 41,667 47,594 37,917 2,844 1,900 3,800 1,900 9,500 3,800 600 9,791 600 1,900 24 1,500 3,800 5,400 3,800 1,900 1,900 4,750 3,800 2,850 104,276 1,561 228,581 (28,214) (2,500) (30,714) (30,714) 2,500 1,561 4,061 (26,653) (89,321) 19,750 1,481 3,700 7,625 38,006 30,000 2,250 2,000 5,370 13,536 53,156 9,167 688 1,000 41,667 52,521 45,833 3,438 2,500 5,000 2,500 12,500 5,000 600 10,833 600 2,500 27 1,500 5,000 5,400 5,000 2,500 2,500 6,250 5,000 3,750 128,230 1,542 273,456 (64,421) (2,500) (66,921) (66,921) 2,500 1,542 4,042 (62,879) (122,203) 19,750 1,481 3,475 24,625 55,031 30,000 2,250 2,000 5,960 15,872 56,082 9,167 688 1,000 41,667 52,521 45,833 3,438 2,500 5,000 2,500 12,500 5,000 600 12,167 600 2,500 30 1,500 5,000 5,400 5,000 2,500 2,500 6,250 5,000 3,750 129,568 1,881 295,083 (47,189) (2,500) (49,689) (49,689) 2,500 1,881 4,381 (45,308) (63,840) 19,750 1,481 4,025 4,625 35,581 30,000 2,250 2,000 6,770 18,553 59,573 9,167 688 1,000 41,667 52,521 45,833 3,438 2,500 5,000 2,500 12,500 5,000 600 13,390 600 2,500 33 1,500 5,000 5,400 5,000 2,500 2,500 6,250 5,000 3,750 130,795 1,859 280,329 (7,712) (2,500) (10,212) (10,212) 2,500 1,859 4,359 (5,853) (57,435) 22,750 1,706 4,325 7,800 43,281 30,000 2,250 2,000 7,500 21,397 63,147 9,167 688 1,000 41,667 52,521 45,833 3,438 2,600 5,200 2,600 13,000 5,200 600 15,077 600 2,600 38 1,500 5,200 5,400 5,200 2,600 2,600 6,500 5,200 3,900 134,885 1,836 295,671 1,024 (2,500) (1,476) (1,476) 2,500 1,836 4,336 2,860 (48,573) 22,750 1,706 4,175 4,800 40,331 30,000 2,250 2,000 8,170 24,512 66,932 9,167 688 1,000 41,667 52,521 45,833 3,438 2,600 5,200 2,600 13,000 5,200 600 16,370 600 2,600 41 1,500 5,200 5,400 5,200 2,600 2,600 6,500 5,200 3,900 136,181 1,874 297,839 35,933 (2,500) 33,433 33,433 2,500 1,874 4,374 37,807 (22,916) 22,750 1,706 5,000 4,975 41,331 34,167 2,563 2,000 9,170 28,037 75,936 9,167 688 1,000 41,667 52,521 45,833 3,438 2,700 5,400 2,700 13,500 5,400 600 18,151 600 2,700 45 1,500 5,400 5,400 5,400 2,700 2,700 6,750 5,400 4,050 140,367 1,852 312,006 58,556 (2,500) 56,056 56,056 2,500 1,852 4,352 60,408 5,423 22,750 1,706 4,925 7,975 45,506 34,167 2,563 2,000 9,940 31,674 80,344 9,167 688 1,000 41,667 52,521 45,833 3,438 2,700 5,400 2,700 13,500 5,400 600 20,346 600 2,700 51 1,500 5,400 5,400 5,400 2,700 2,700 6,750 5,400 4,050 142,567 1,889 322,827 83,869 (2,500) 81,369 81,369 2,500 1,889 4,389 85,758 23,161 22,750 1,706 5,050 4,975 42,631 34,167 2,563 2,000 10,760 35,582 85,071 9,167 688 1,000 41,667 52,521 45,833 3,438 2,700 5,400 2,700 13,500 5,400 600 21,712 600 2,700 54 1,500 5,400 5,400 5,400 2,700 2,700 6,750 5,400 4,050 143,937 1,867 326,027 118,896 (2,500) 116,396 116,396 2,500 1,867 4,367 120,763 37,668 22,750 1,706 5,675 4,975 43,256 34,167 2,563 2,000 11,830 39,923 90,482 9,167 688 1,000 41,667 52,521 45,833 3,438 2,700 5,400 2,700 13,500 5,400 600 23,530 600 2,700 59 1,500 5,400 5,400 5,400 2,700 2,700 6,750 5,400 4,050 145,759 1,845 333,863 148,460 (2,500) 145,960 145,960 2,500 1,845 4,345 150,305 98,105 237,500 17,813 48,675 86,100 463,838 376,667 28,250 24,000 88,480 257,546 774,942 96,250 7,219 12,000 500,000 615,469 526,250 39,469 29,200 58,400 29,200 146,000 58,400 7,200 177,895 7,200 29,200 445 18,000 58,400 64,800 58,400 29,200 29,200 73,000 58,400 43,800 1,542,059 20,039 3,416,346 175,112 (27,500) 145,112 145,112 30,000 20,039 50,039 195,150 (655,580) 5.3% 0.4% 1.1% 1.9% 10.4% 8.5% 0.6% 0.5% 2.0% 5.8% 17.4% 2.2% 0.2% 0.3% 11.2% 13.8% 11.8% 0.9% 0.7% 1.3% 0.7% 3.3% 1.3% 0.2% 4.0% 0.2% 0.7% 0.0% 0.4% 1.3% 1.5% 1.3% 0.7% 0.7% 1.6% 1.3% 1.0% 34.7% 0.5% 76.8% 3.9% -0.6% 0.0% 3.3% 0.0% 3.3% 0.0% 0.7% 0.0% 0.5% 1.1% 4.4% -14.7% Bill Snow Financial Model Projected Financial Statements Jan-05 13 Feb-05 14 Mar-05 15 Apr-05 16 May-05 17 Jun-05 18 Jul-05 19 Aug-05 20 Sep-05 21 Oct-05 22 Nov-05 23 Dec-05 24 2005 Totals % Projected B/S ASSETS Current assets Cash A/R Prepaid exp Inventory Other current assets Total current assets Property/equip, net Other LT assets Goodwill, net Total assets LIABILITIES Current Liabilities A/P Other Current Liab Total current liabilities LT Note Total liabilities EQUITY Capital Retained earnings Total equity Total liabilities and equity 2,750,000 (837,464) 1,912,536 2,195,570 2,750,000 (880,101) 1,869,899 2,195,599 2,750,000 (910,815) 1,839,185 2,164,857 2,750,000 (977,736) 1,772,264 2,098,274 2,750,000 (1,027,425) 1,722,575 2,071,599 2,750,000 (1,037,637) 1,712,363 2,062,341 2,750,000 (1,039,113) 1,710,887 2,062,816 2,750,000 (1,005,680) 1,744,320 2,101,257 2,750,000 (949,624) 1,800,376 2,158,318 2,750,000 (868,256) 1,881,744 2,246,376 2,750,000 (751,859) 1,998,141 2,364,496 2,750,000 (605,899) 2,144,101 2,511,984 2,750,000 (605,899) 2,144,101 2,511,984 1,847,830 215,058 2,062,888 132,682 2,195,570 1,784,624 279,872 2,064,497 131,102 2,195,599 1,695,304 340,012 2,035,316 129,542 2,164,857 1,573,101 367,173 1,940,274 157,999 2,098,274 1,509,261 406,219 1,915,480 156,119 2,071,599 1,451,826 456,255 1,908,081 154,260 2,062,341 1,403,253 502,139 1,905,392 157,424 2,062,816 1,380,337 565,371 1,945,708 155,549 2,101,257 1,385,759 613,861 1,999,621 158,698 2,158,318 1,408,921 680,646 2,089,567 156,808 2,246,376 1,446,589 762,966 2,209,555 154,942 2,364,496 1,544,694 814,193 2,358,887 153,097 2,511,984 1,544,694 814,193 2,358,887 153,097 2,511,984 41,605 41,605 241,429 283,034 84,985 84,985 240,714 325,700 85,672 85,672 240,000 325,672 86,724 86,724 239,286 326,009 110,452 110,452 238,571 349,023 112,121 112,121 237,857 349,978 114,786 114,786 237,143 351,929 120,509 120,509 236,428 356,937 122,228 122,228 235,714 357,943 129,631 129,631 235,000 364,631 132,070 132,070 234,286 366,356 134,312 134,312 233,571 367,883 134,312 134,312 233,571 134,312 Projected CFS Cash Flow from Operations Net Income Adjustments Depreciation Amortization Change in inventory Change in A/R Change in A/P Cash from operations Cash Flow from Investing Purchase/sale of equip Acquisitions Cash from Investing Activities Cash Flow from Financing Proceeds from equity, net Proceeds from debt, net Cash from Financing Activities Beginning cash balance Increase (decrease) in cash Ending cash balance (86,453) 454 (40,771) 5,042 (121,729) (42,637) 1,580 (64,815) 43,380 (62,492) (30,714) 1,561 (60,140) 687 (88,606) (66,921) 1,542 (27,161) 1,052 (91,488) (49,689) 1,881 (39,046) 23,728 (63,126) (10,212) 1,859 (50,036) 1,669 (56,721) (1,476) 1,836 (45,884) 2,665 (42,859) 33,433 1,874 (63,232) 5,723 (22,202) 56,056 1,852 (48,490) 1,719 11,137 81,369 1,889 (66,785) 7,403 23,876 116,396 1,867 (82,319) 2,439 38,382 145,960 1,845 (51,228) 2,242 98,819 145,112 20,039 (639,907) 97,748 (377,008) (95,000) (95,000) - - (30,000) (30,000) - - (5,000) (5,000) - (5,000) (5,000) - - - (135,000) (135,000) 2,000,000 (714) 1,999,286 65,273 1,782,557 1,847,830 (714) (714) 1,847,830 (63,206) 1,784,624 (714) (714) 1,784,624 (89,321) 1,695,304 (714) (714) 1,695,304 (122,203) 1,573,101 (714) (714) 1,573,101 (63,840) 1,509,261 (714) (714) 1,509,261 (57,435) 1,451,826 (714) (714) 1,451,826 (48,573) 1,403,253 (714) (714) 1,403,253 (22,916) 1,380,337 (714) (714) 1,380,337 5,423 1,385,759 (714) (714) 1,385,759 23,161 1,408,921 (714) (714) 1,408,921 37,668 1,446,589 (714) (714) 1,446,589 98,105 1,544,694 2,000,000 (8,571) 1,991,429 65,273 1,479,420 1,544,694 Bill Snow Financial Model Projected Financial Statements Jan-06 25 Feb-06 26 1,324,474 Mar-06 27 1,356,896 Apr-06 28 1,414,647 May-06 29 1,470,342 Jun-06 30 1,503,348 Jul-06 31 1,622,429 Aug-06 32 1,690,501 Sep-06 33 1,748,524 Oct-06 34 1,738,040 Nov-06 35 1,837,792 Dec-06 36 1,944,117 2006 Totals % Projected I/S Starting Cash Investment Equity Debt Debt/equity added (deducted) in period Company Stage REVENUE Subscription Transactions - Trial Users Transactions - Customers Total Transactions Company Marketing Advertising Total Revenue Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs Total COGS Gross Profit EXPENSES Sales & Marketing Sales & Mkting - Salaries Payroll tax Total Company Mkting Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense Total Office & Admin Depreciation Amortization Total Expenses EBIT Interest Expense Interest Income EBT Allowance for tax Net earnings Adjustments Interest, net Tax Deprec & Amort Total adjustments EBITDA Free Cash Flow 1,544,694 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 448,050 37,574 94,725 132,299 63,200 643,549 469,669 39,857 101,625 141,482 67,800 678,950 498,206 43,343 109,650 152,993 73,100 724,299 541,781 45,072 116,025 161,097 77,400 780,278 563,400 47,355 122,850 170,205 81,900 815,505 591,938 50,841 131,175 182,016 87,500 861,454 635,513 52,571 138,075 190,646 92,100 918,258 657,131 54,854 144,675 199,529 96,500 953,160 685,669 58,340 153,750 212,090 102,500 1,000,258 729,244 60,069 161,025 221,094 107,400 1,057,738 750,863 62,352 168,300 230,652 112,200 1,093,715 779,400 65,838 177,375 243,213 118,300 1,140,913 7,350,863 618,063 1,619,250 2,237,313 1,079,900 10,668,076 68.9% 5.8% 15.2% 21.0% 10.1% 0.0% 100.0% 5,000 5,000 14,000 66,149 17,922 13,230 121,301 522,247 14,000 70,741 18,787 14,148 117,676 561,275 14,000 76,496 19,928 15,299 125,724 598,575 5,000 5,000 16,000 80,549 21,671 16,110 144,329 635,949 16,000 85,103 22,536 17,021 140,659 674,846 16,000 91,008 23,678 18,202 148,887 712,566 5,000 5,000 18,000 95,323 25,421 19,065 167,808 750,450 18,000 99,764 26,285 19,953 164,002 789,157 18,000 100,000 27,427 21,209 166,636 833,623 5,000 5,000 20,000 100,000 29,170 22,109 181,279 876,459 20,000 100,000 30,035 23,065 173,100 920,615 20,000 100,000 31,176 24,321 175,497 965,416 20,000 20,000 204,000 1,065,132 294,035 223,731 1,826,898 8,841,177 0.2% 0.2% 1.9% 10.0% 2.8% 2.1% 17.1% 82.9% 45,000 3,375 5,500 20,900 84,375 84,167 6,313 2,000 12,630 44,369 149,479 18,750 1,406 2,000 22,156 67,500 5,063 3,700 7,400 3,700 22,200 9,250 750 24,133 700 3,700 64 2,500 7,400 8,800 14,800 3,700 3,700 9,250 9,250 7,400 214,960 1,823 472,792 49,455 (2,500) 46,955 18,782 28,173 2,500 18,782 1,823 23,105 51,278 (220,220) 47,917 3,594 5,800 18,500 85,410 84,167 6,313 2,000 13,550 49,049 155,078 18,750 1,406 2,000 22,156 70,833 5,313 4,000 8,000 4,000 24,000 10,000 750 25,461 700 4,000 68 2,500 8,000 8,800 16,000 4,000 4,000 10,000 10,000 8,000 228,424 4,003 495,072 66,202 (2,500) 63,702 63,702 2,500 4,003 6,503 70,206 32,423 47,917 3,594 6,175 18,500 85,985 84,167 6,313 2,000 14,620 54,184 161,283 18,750 1,406 2,000 22,156 70,833 5,313 4,000 8,000 4,000 24,000 10,000 750 27,161 700 4,000 72 2,500 8,000 8,800 16,000 4,000 4,000 10,000 10,000 8,000 230,129 4,134 503,688 94,887 (2,500) 92,387 92,387 2,500 4,134 6,634 99,021 57,751 47,917 3,594 6,125 21,500 90,385 84,167 6,313 2,000 15,470 59,412 167,361 18,750 1,406 2,000 22,156 70,833 5,313 4,000 8,000 4,000 24,000 10,000 750 29,260 700 4,000 78 2,500 8,000 8,800 16,000 4,000 4,000 10,000 10,000 8,000 232,234 4,085 516,222 119,727 (2,500) 117,227 117,227 2,500 4,085 6,585 123,812 55,695 47,917 3,594 6,275 58,500 127,535 84,167 6,313 2,000 16,380 64,878 173,738 18,750 1,406 2,000 22,156 70,833 5,313 4,000 8,000 4,000 24,000 10,000 750 30,581 700 4,000 82 2,500 8,000 8,800 16,000 4,000 4,000 10,000 10,000 8,000 233,559 4,036 561,024 113,822 (2,500) 111,322 111,322 2,500 4,036 6,536 117,858 33,007 47,917 3,594 6,775 18,700 88,235 89,167 6,688 2,000 17,490 70,771 186,115 18,750 1,406 2,000 22,156 70,833 5,313 4,100 8,200 4,100 24,600 10,250 750 32,305 700 4,100 86 2,500 8,200 8,800 16,400 4,100 4,100 10,250 10,250 8,200 238,136 3,988 538,632 173,935 (2,500) 171,435 171,435 2,500 3,988 6,488 177,923 119,080 47,917 3,594 6,800 21,700 92,710 89,167 6,688 2,000 18,410 76,703 192,967 18,750 1,406 2,000 22,156 70,833 5,313 4,100 8,200 4,100 24,600 10,250 750 34,435 700 4,100 92 2,500 8,200 8,800 16,400 4,100 4,100 10,250 10,250 8,200 240,272 4,000 552,106 198,344 (2,500) 195,844 69,676 126,168 2,500 69,676 4,000 76,176 202,344 68,073 47,917 3,594 6,700 18,700 89,810 89,167 6,688 2,000 19,290 82,843 199,988 18,750 1,406 2,000 22,156 70,833 5,313 4,100 8,200 4,100 24,600 10,250 750 35,743 700 4,100 95 2,500 8,200 8,800 16,400 4,100 4,100 10,250 10,250 8,200 241,585 3,953 557,492 231,666 (2,500) 229,166 91,666 137,499 2,500 91,666 3,953 98,119 235,619 58,022 53,333 4,000 7,525 19,100 96,858 89,167 6,688 2,000 20,500 89,308 207,662 25,000 1,875 2,000 28,875 70,833 5,313 4,300 8,600 4,300 25,800 10,750 750 37,510 700 4,300 100 2,500 8,600 8,800 17,200 4,300 4,300 10,750 10,750 8,600 249,056 3,906 586,357 247,266 (2,500) 244,766 97,906 146,859 2,500 97,906 3,906 104,312 251,171 (10,483) 57,917 4,344 7,425 22,300 106,335 89,167 6,688 2,000 21,470 95,771 215,095 25,000 1,875 2,000 28,875 70,833 5,313 4,400 8,800 4,400 26,400 11,000 750 39,665 700 4,400 106 2,500 8,800 8,800 17,600 4,400 4,400 11,000 11,000 8,800 254,067 5,169 609,541 266,918 (2,500) 264,418 105,767 158,651 2,500 105,767 5,169 113,436 272,087 99,751 57,917 4,344 7,425 19,300 103,335 89,167 6,688 2,000 22,440 102,441 222,735 25,000 1,875 2,000 28,875 70,833 5,313 4,400 8,800 4,400 26,400 11,000 750 41,014 700 4,400 109 2,500 8,800 8,800 17,600 4,400 4,400 11,000 11,000 8,800 255,419 5,167 615,532 305,083 (2,500) 302,583 121,033 181,550 2,500 121,033 5,167 128,700 310,250 106,325 57,917 4,344 8,025 19,300 103,935 89,167 6,688 2,000 23,650 109,463 230,967 25,000 1,875 2,000 28,875 70,833 5,313 4,400 8,800 4,400 26,400 11,000 750 42,784 700 4,400 114 2,500 8,800 8,800 17,600 4,400 4,400 11,000 11,000 8,800 257,194 5,105 626,077 339,339 (2,500) 336,839 134,735 202,103 2,500 134,735 5,105 142,341 344,444 154,558 607,500 45,563 80,550 277,000 1,154,913 1,045,000 78,375 24,000 215,900 899,193 2,262,468 250,000 18,750 24,000 292,750 846,667 63,500 49,500 99,000 49,500 297,000 123,750 9,000 400,053 8,400 49,500 1,067 30,000 99,000 105,600 198,000 49,500 49,500 123,750 123,750 99,000 2,875,036 49,369 6,634,535 2,206,642 (27,500) 2,176,642 639,567 1,537,076 30,000 639,567 49,369 718,935 2,256,011 233,981 5.7% 0.4% 0.8% 2.6% 10.8% 9.8% 0.7% 0.2% 2.0% 8.4% 21.2% 2.3% 0.2% 0.2% 0.0% 2.7% 7.9% 0.6% 0.5% 0.9% 0.5% 2.8% 1.2% 0.1% 3.8% 0.1% 0.5% 0.0% 0.3% 0.9% 1.0% 1.9% 0.5% 0.5% 1.2% 1.2% 0.9% 26.9% 0.5% 62.2% 20.7% -0.3% 0.0% 20.4% 6.0% 14.4% 0.0% 0.3% 6.0% 0.5% 6.7% 21.1% 2.2% Bill Snow Financial Model Projected Financial Statements Jan-06 25 Feb-06 26 Mar-06 27 Apr-06 28 May-06 29 Jun-06 30 Jul-06 31 Aug-06 32 Sep-06 33 Oct-06 34 Nov-06 35 Dec-06 36 2006 Totals % Projected B/S ASSETS Current assets Cash A/R Prepaid exp Inventory Other current assets Total current assets Property/equip, net Other LT assets Goodwill, net Total assets LIABILITIES Current Liabilities A/P Other Current Liab Total current liabilities LT Note Total liabilities EQUITY Capital Retained earnings Total equity Total liabilities and equity 2,750,000 (577,726) 2,172,274 2,543,114 2,750,000 (514,024) 2,235,976 2,669,490 2,750,000 (421,637) 2,328,363 2,776,209 2,750,000 (304,410) 2,445,590 2,895,842 2,750,000 (193,089) 2,556,911 3,008,782 2,750,000 (21,654) 2,728,346 3,181,714 2,750,000 104,514 2,854,514 3,314,709 2,750,000 242,014 2,992,014 3,453,985 2,750,000 388,873 3,138,873 3,601,949 2,750,000 547,524 3,297,524 3,772,179 2,750,000 729,074 3,479,074 3,959,557 2,750,000 931,177 3,681,177 4,162,975 2,750,000 931,177 3,681,177 4,162,975 1,324,474 882,366 2,206,840 336,275 2,543,114 1,356,896 965,323 2,322,219 347,271 2,669,490 1,414,647 1,018,425 2,433,072 343,137 2,776,209 1,470,342 1,086,448 2,556,790 339,052 2,895,842 1,503,348 1,170,417 2,673,766 335,016 3,008,782 1,622,429 1,223,258 2,845,686 336,027 3,181,714 1,690,501 1,292,180 2,982,682 332,027 3,314,709 1,748,524 1,377,387 3,125,911 328,074 3,453,985 1,738,040 1,429,740 3,167,780 434,169 3,601,949 1,837,792 1,500,387 3,338,179 434,000 3,772,179 1,944,117 1,586,607 3,530,723 428,833 3,959,557 2,098,675 1,640,572 3,739,246 423,728 4,162,975 2,098,675 1,640,572 3,739,246 423,728 4,162,975 137,983 137,983 232,857 370,840 201,371 201,371 232,143 433,514 216,418 216,418 231,428 447,846 219,538 219,538 230,714 450,252 221,870 221,870 230,000 451,870 224,082 224,082 229,286 453,368 231,623 231,623 228,571 460,195 234,115 234,115 227,857 461,972 235,933 235,933 227,143 463,076 248,227 248,227 226,428 474,656 254,769 254,769 225,714 480,483 256,798 256,798 225,000 481,798 256,798 256,798 225,000 256,798 Projected CFS Cash Flow from Operations Net Income Adjustments Depreciation Amortization Change in inventory Change in A/R Change in A/P Cash from operations Cash Flow from Investing Purchase/sale of equip Acquisitions Cash from Investing Activities Cash Flow from Financing Proceeds from equity, net Proceeds from debt, net Cash from Financing Activities Beginning cash balance Increase (decrease) in cash Ending cash balance 28,173 1,823 (68,173) 3,671 (34,506) 63,702 4,003 (82,957) 63,388 48,137 92,387 4,134 (53,103) 15,047 58,465 117,227 4,085 (68,023) 3,120 56,409 111,322 4,036 (83,969) 2,332 33,721 171,435 3,988 (52,840) 2,212 124,795 126,168 4,000 (68,923) 7,541 68,787 137,499 3,953 (85,207) 2,491 58,737 146,859 3,906 (52,353) 1,818 100,231 158,651 5,169 (70,648) 12,294 105,466 181,550 5,167 (86,219) 6,542 107,039 202,103 5,105 (53,965) 2,029 155,272 1,537,076 49,369 (826,379) 122,486 882,552 (185,000) (185,000) (15,000) (15,000) - - - (5,000) (5,000) - - (110,000) (110,000) (5,000) (5,000) - - (320,000) (320,000) (714) (714) 1,544,694 (220,220) 1,324,474 (714) (714) 1,324,474 32,423 1,356,896 (714) (714) 1,356,896 57,751 1,414,647 (714) (714) 1,414,647 55,695 1,470,342 (714) (714) 1,470,342 33,007 1,503,348 (714) (714) 1,503,348 119,080 1,622,429 (714) (714) 1,622,429 68,073 1,690,501 (714) (714) 1,690,501 58,022 1,748,524 (714) (714) 1,748,524 (10,483) 1,738,040 (714) (714) 1,738,040 99,751 1,837,792 (714) (714) 1,837,792 106,325 1,944,117 (714) (714) 1,944,117 154,558 2,098,675 (8,571) (8,571) 1,544,694 553,981 2,098,675 Bill Snow Financial Model Projected Financial Statements Jan-07 37 Feb-07 38 2,023,629 Mar-07 39 2,185,708 Apr-07 40 2,393,930 May-07 41 2,604,571 Jun-07 42 2,747,010 Jul-07 43 3,010,732 Aug-07 44 3,255,455 Sep-07 45 3,505,517 Oct-07 46 3,807,686 Nov-07 47 4,090,969 Dec-07 48 4,398,285 2007 Totals % Projected I/S Starting Cash Investment Equity Debt Debt/equity added (deducted) in period Company Stage REVENUE Subscription Transactions - Trial Users Transactions - Customers Total Transactions Company Marketing Advertising Total Revenue Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs Total COGS Gross Profit EXPENSES Sales & Marketing Sales & Mkting - Salaries Payroll tax Total Company Mkting Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense Total Office & Admin Depreciation Amortization Total Expenses EBIT Interest Expense Interest Income EBT Allowance for tax Net earnings Adjustments Interest, net Tax Deprec & Amort Total adjustments EBITDA Free Cash Flow 2,098,675 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 822,975 67,568 184,500 252,068 123,000 1,198,043 844,594 69,851 192,525 262,376 128,400 1,235,369 873,131 73,337 201,675 275,012 134,500 1,282,643 916,706 75,066 209,175 284,241 139,500 1,340,447 938,325 77,349 217,050 294,399 144,700 1,377,424 966,863 80,835 226,275 307,110 150,900 1,424,873 1,010,438 82,565 234,150 316,715 156,100 1,483,252 1,032,056 84,848 241,875 326,723 161,300 1,520,079 1,060,594 88,334 252,000 340,334 168,000 1,568,927 1,104,169 90,063 260,400 350,463 173,600 1,628,232 1,125,788 92,346 268,650 360,996 179,100 1,665,884 1,154,325 95,832 278,400 374,232 185,600 1,714,157 11,849,963 977,991 2,766,675 3,744,666 1,844,700 17,439,329 67.9% 5.6% 15.9% 21.5% 10.6% 0.0% 100.0% 5,000 5,000 22,000 100,000 32,919 25,207 190,126 1,007,917 22,000 100,000 33,784 26,238 182,021 1,053,348 22,000 100,000 34,925 27,501 184,426 1,098,216 5,000 5,000 24,000 100,000 36,668 28,424 199,092 1,141,355 24,000 100,000 37,533 29,440 190,973 1,186,451 24,000 100,000 38,675 30,711 193,386 1,231,487 5,000 5,000 26,000 100,000 40,418 31,671 208,089 1,275,163 26,000 100,000 41,282 32,672 199,955 1,320,124 26,000 100,000 42,424 34,033 202,457 1,366,470 5,000 5,000 28,000 100,000 44,167 35,046 217,213 1,411,019 28,000 100,000 45,032 36,100 209,131 1,456,752 28,000 100,000 46,173 37,423 211,596 1,502,561 20,000 20,000 300,000 1,200,000 473,999 374,467 2,388,465 15,050,863 0.1% 0.1% 1.7% 6.9% 2.7% 2.1% 13.7% 86.3% 57,917 4,344 7,875 22,500 108,635 94,167 7,063 2,000 24,600 116,474 244,303 25,000 1,875 2,000 28,875 70,833 5,313 4,500 9,000 4,500 27,000 11,250 750 44,927 700 4,500 120 2,500 9,000 10,400 18,000 4,500 4,500 11,250 11,250 9,000 263,792 5,044 650,650 357,266 (2,500) 354,766 141,907 212,860 2,500 141,907 5,044 149,451 362,311 (75,046) 57,917 4,344 8,175 19,500 105,935 94,167 7,063 2,000 25,670 123,649 252,548 25,000 1,875 2,000 28,875 70,833 5,313 4,500 9,000 4,500 27,000 11,250 750 46,326 700 4,500 124 2,500 9,000 10,400 18,000 4,500 4,500 11,250 11,250 9,000 265,196 7,663 660,217 393,131 (2,500) 390,631 156,252 234,378 2,500 156,252 7,663 166,415 400,793 162,080 57,917 4,344 8,550 19,500 106,310 94,167 7,063 2,000 26,890 131,202 261,322 25,000 1,875 2,000 28,875 70,833 5,313 4,500 9,000 4,500 27,000 11,250 750 48,099 700 4,500 128 2,500 9,000 10,400 18,000 4,500 4,500 11,250 11,250 9,000 266,973 7,572 671,052 427,164 (2,500) 424,664 169,866 254,799 2,500 169,866 7,572 179,937 434,736 208,221 57,917 4,344 8,500 22,500 110,910 94,167 7,063 2,000 27,890 138,730 269,849 25,000 1,875 2,000 28,875 70,833 5,313 4,500 9,000 4,500 27,000 11,250 750 50,267 700 4,500 134 2,500 9,000 10,400 18,000 4,500 4,500 11,250 11,250 9,000 269,147 7,482 686,263 455,092 (2,500) 452,592 181,037 271,555 2,500 181,037 7,482 191,018 462,574 210,641 57,917 4,344 8,625 60,500 149,035 114,167 8,563 2,000 28,940 146,428 300,097 25,000 1,875 2,000 28,875 75,833 5,688 5,000 10,000 5,000 30,000 12,500 750 51,653 700 5,000 138 2,500 10,000 10,400 20,000 5,000 5,000 12,500 12,500 10,000 290,162 7,392 775,562 410,889 (2,500) 408,389 163,356 245,033 2,500 163,356 7,392 173,248 418,281 142,440 57,917 4,344 9,075 20,500 109,485 114,167 8,563 2,000 30,170 154,470 309,369 25,000 1,875 2,000 28,875 75,833 5,688 5,000 10,000 5,000 30,000 12,500 750 53,433 700 5,000 142 2,500 10,000 10,400 20,000 5,000 5,000 12,500 12,500 10,000 291,946 7,602 747,278 484,209 (2,500) 481,709 192,684 289,025 2,500 192,684 7,602 202,786 491,811 263,721 57,917 4,344 9,125 23,500 114,185 114,167 8,563 2,000 31,220 162,422 318,371 25,000 1,875 2,000 28,875 75,833 5,688 5,000 10,000 5,000 30,000 12,500 750 55,622 700 5,000 148 2,500 10,000 10,400 20,000 5,000 5,000 12,500 12,500 10,000 294,141 7,512 763,084 512,079 (2,500) 509,579 203,832 305,747 2,500 203,832 7,512 213,843 519,591 244,723 57,917 4,344 9,075 20,500 111,135 114,167 8,563 2,000 32,250 170,510 327,489 25,000 1,875 2,000 28,875 75,833 5,688 5,000 10,000 5,000 30,000 12,500 750 57,003 700 5,000 152 2,500 10,000 10,400 20,000 5,000 5,000 12,500 12,500 10,000 295,526 7,422 770,448 549,677 (2,500) 547,177 218,871 328,306 2,500 218,871 7,422 228,793 557,099 250,062 57,917 4,344 9,875 20,500 111,935 114,167 8,563 2,000 33,600 178,822 337,151 25,000 1,875 2,000 28,875 75,833 5,688 5,000 10,000 5,000 30,000 12,500 750 58,835 700 5,000 157 2,500 10,000 10,400 20,000 5,000 5,000 12,500 12,500 10,000 297,362 7,334 782,658 583,812 (2,500) 581,312 232,525 348,787 2,500 232,525 7,334 242,359 591,146 302,169 62,500 4,688 9,800 23,900 121,838 119,167 8,938 2,000 34,720 186,995 351,819 25,000 1,875 2,000 28,875 75,833 5,688 5,200 10,400 5,200 31,200 13,000 750 61,059 700 5,200 163 2,500 10,400 10,400 20,800 5,200 5,200 13,000 13,000 10,400 305,292 7,246 815,070 595,948 (2,500) 593,448 237,379 356,069 2,500 237,379 7,246 247,126 603,195 283,284 62,500 4,688 9,750 20,900 118,788 119,167 8,938 2,000 35,820 195,303 361,227 25,000 1,875 2,000 28,875 75,833 5,688 5,200 10,400 5,200 31,200 13,000 750 62,471 700 5,200 167 2,500 10,400 10,400 20,800 5,200 5,200 13,000 13,000 10,400 306,708 7,279 822,877 633,876 (2,500) 631,376 252,550 378,825 2,500 252,550 7,279 262,330 641,155 307,316 62,500 4,688 10,250 20,900 119,288 119,167 8,938 2,000 37,120 203,866 371,091 25,000 1,875 2,000 28,875 75,833 5,688 5,200 10,400 5,200 31,200 13,000 750 64,281 700 5,200 171 2,500 10,400 10,400 20,800 5,200 5,200 13,000 13,000 10,400 308,523 7,193 834,969 667,592 (2,500) 665,092 266,037 399,055 2,500 266,037 7,193 275,729 674,785 351,104 708,750 53,156 108,675 295,200 1,387,481 1,305,000 97,875 24,000 368,890 1,908,872 3,704,637 300,000 22,500 24,000 346,500 890,000 66,750 58,600 117,200 58,600 351,600 146,500 9,000 653,975 8,400 58,600 1,744 30,000 117,200 124,800 234,400 58,600 58,600 146,500 146,500 117,200 3,454,769 86,741 8,980,128 6,070,735 (27,500) 6,040,735 2,416,294 3,624,441 30,000 2,416,294 86,741 2,533,035 6,157,476 2,390,715 4.1% 0.3% 0.6% 1.7% 8.0% 7.5% 0.6% 0.1% 2.1% 10.9% 21.2% 1.7% 0.1% 0.1% 0.0% 2.0% 5.1% 0.4% 0.3% 0.7% 0.3% 2.0% 0.8% 0.1% 3.8% 0.0% 0.3% 0.0% 0.2% 0.7% 0.7% 1.3% 0.3% 0.3% 0.8% 0.8% 0.7% 19.8% 0.5% 51.5% 34.8% -0.2% 0.0% 34.6% 13.9% 20.8% 0.0% 0.2% 13.9% 0.5% 14.5% 35.3% 13.7% Bill Snow Financial Model Projected Financial Statements Jan-07 37 Feb-07 38 Mar-07 39 Apr-07 40 May-07 41 Jun-07 42 Jul-07 43 Aug-07 44 Sep-07 45 Oct-07 46 Nov-07 47 Dec-07 48 2007 Totals % Projected B/S ASSETS Current assets Cash A/R Prepaid exp Inventory Other current assets Total current assets Property/equip, net Other LT assets Goodwill, net Total assets LIABILITIES Current Liabilities A/P Other Current Liab Total current liabilities LT Note Total liabilities EQUITY Capital Retained earnings Total equity Total liabilities and equity 2,750,000 1,144,037 3,894,037 4,378,682 2,750,000 1,378,415 4,128,415 4,618,793 2,750,000 1,633,214 4,383,214 4,875,433 2,750,000 1,904,769 4,654,769 5,149,503 2,750,000 2,149,802 4,899,802 5,396,257 2,750,000 2,438,828 5,188,828 5,707,841 2,750,000 2,744,575 5,494,575 6,016,225 2,750,000 3,072,881 5,822,881 6,346,434 2,750,000 3,421,668 6,171,668 6,696,509 2,750,000 3,777,737 6,527,737 7,055,819 2,750,000 4,156,563 6,906,563 7,444,813 2,750,000 4,555,618 7,305,618 7,845,202 2,750,000 4,555,618 7,305,618 7,845,202 2,023,629 1,711,370 3,734,998 643,684 4,378,682 2,185,708 1,797,064 3,982,772 636,021 4,618,793 2,393,930 1,853,054 4,246,984 628,449 4,875,433 2,604,571 1,923,964 4,528,535 620,968 5,149,503 2,747,010 2,010,671 4,757,681 638,575 5,396,257 3,010,732 2,066,136 5,076,868 630,973 5,707,841 3,255,455 2,137,309 5,392,763 623,462 6,016,225 3,505,517 2,224,878 5,730,395 616,039 6,346,434 3,807,686 2,280,118 6,087,804 608,706 6,696,509 4,090,969 2,353,391 6,444,360 611,459 7,055,819 4,398,285 2,442,348 6,840,633 604,180 7,444,813 4,749,390 2,498,825 7,248,215 596,987 7,845,202 4,749,390 2,498,825 7,248,215 596,987 7,845,202 260,360 260,360 224,286 484,646 266,807 266,807 223,571 490,378 269,362 269,362 222,857 492,219 272,591 272,591 222,143 494,734 275,026 275,026 221,428 496,455 298,299 298,299 220,714 519,013 301,650 301,650 220,000 521,650 304,268 304,268 219,286 523,553 306,270 306,270 218,571 524,841 310,225 310,225 217,857 528,082 321,107 321,107 217,143 538,250 323,156 323,156 216,428 539,584 323,156 323,156 216,428 323,156 Projected CFS Cash Flow from Operations Net Income Adjustments Depreciation Amortization Change in inventory Change in A/R Change in A/P Cash from operations Cash Flow from Investing Purchase/sale of equip Acquisitions Cash from Investing Activities Cash Flow from Financing Proceeds from equity, net Proceeds from debt, net Cash from Financing Activities Beginning cash balance Increase (decrease) in cash Ending cash balance 212,860 5,044 (70,798) 3,562 150,668 234,378 7,663 (85,694) 6,447 162,794 254,799 7,572 (55,990) 2,555 208,935 271,555 7,482 (70,910) 3,229 211,355 245,033 7,392 (86,707) 2,435 168,154 289,025 7,602 (55,465) 23,273 264,435 305,747 7,512 (71,173) 3,351 245,437 328,306 7,422 (87,569) 2,618 250,776 348,787 7,334 (55,240) 2,002 302,883 356,069 7,246 (73,273) 3,955 293,998 378,825 7,279 (88,957) 10,882 308,030 399,055 7,193 (56,478) 2,049 351,819 3,624,441 86,741 (858,254) 66,358 2,919,287 (225,000) (225,000) - - - (25,000) (25,000) - - - - (10,000) (10,000) - - (260,000) (260,000) (714) (714) 2,098,675 (75,046) 2,023,629 (714) (714) 2,023,629 162,080 2,185,708 (714) (714) 2,185,708 208,221 2,393,930 (714) (714) 2,393,930 210,641 2,604,571 (714) (714) 2,604,571 142,440 2,747,010 (714) (714) 2,747,010 263,721 3,010,732 (714) (714) 3,010,732 244,723 3,255,455 (714) (714) 3,255,455 250,062 3,505,517 (714) (714) 3,505,517 302,169 3,807,686 (714) (714) 3,807,686 283,284 4,090,969 (714) (714) 4,090,969 307,316 4,398,285 (714) (714) 4,398,285 351,104 4,749,390 (8,571) (8,571) 2,098,675 2,650,715 4,749,390 Bill Snow Financial Model Projected Financial Statements Jan-08 49 Feb-08 50 4,842,304 Mar-08 51 5,202,351 Apr-08 52 5,591,610 May-08 53 6,002,592 Jun-08 54 6,386,866 Jul-08 55 6,846,591 Aug-08 56 7,309,453 Sep-08 57 7,766,811 Oct-08 58 8,286,755 Nov-08 59 8,794,664 Dec-08 60 9,316,953 2008 Totals % Projected I/S Starting Cash Investment Equity Debt Debt/equity added (deducted) in period Company Stage REVENUE Subscription Transactions - Trial Users Transactions - Customers Total Transactions Company Marketing Advertising Total Revenue Cost of Goods Sold Start up costs Website Maintenance Transaction fees Credit card fees Network costs Total COGS Gross Profit EXPENSES Sales & Marketing Sales & Mkting - Salaries Payroll tax Total Company Mkting Total Other Mkting Total Sales & Marketing Operations Operations - Salaries Payroll tax Call Center Company Support Customer Support Total Operations IT IT - Salaries Payroll tax Hosting Development Total IT Office & Admin Office & Admin - Salaries Payroll Taxes Ins - P & C Ins - W/C Ins - Disability Health Ins Life Ins Ins - D&O Professional Fees Gen Liability Ins Payroll Service Dues & Subs HR Recruiting Misc. Office Exp Rent Expense Equipment Rental Office Supplies Postage Telephone Utilities Vehicle Expense Total Office & Admin Depreciation Amortization Total Expenses EBIT Interest Expense Interest Income EBT Allowance for tax Net earnings Adjustments Interest, net Tax Deprec & Amort Total adjustments EBITDA Free Cash Flow 4,749,390 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 1,197,900 97,562 286,725 384,287 191,200 1,773,387 1,219,519 99,845 295,875 395,720 197,300 1,812,538 1,248,056 103,331 305,850 409,181 203,900 1,861,137 1,291,631 105,060 314,550 419,610 209,700 1,920,941 1,313,250 107,343 323,400 430,743 215,600 1,959,593 1,341,788 110,829 333,450 444,279 222,300 2,008,367 1,385,363 112,559 342,675 455,234 228,500 2,069,096 1,406,981 114,842 351,300 466,142 234,200 2,107,323 1,435,519 118,328 362,250 480,578 241,500 2,157,596 1,479,094 120,057 372,150 492,207 248,100 2,219,401 1,500,713 122,340 381,450 503,790 254,300 2,258,803 1,529,250 125,826 392,025 517,851 261,400 2,308,501 16,349,063 1,337,919 4,061,700 5,399,619 2,708,000 24,456,682 66.8% 5.5% 16.6% 22.1% 11.1% 0.0% 100.0% 5,000 5,000 30,000 100,000 47,916 38,429 226,345 1,547,042 30,000 100,000 48,781 39,572 218,353 1,594,186 30,000 100,000 49,922 40,918 220,840 1,640,296 5,000 5,000 32,000 100,000 51,665 41,961 235,626 1,685,315 32,000 100,000 52,530 43,074 227,604 1,731,989 32,000 100,000 53,672 44,428 230,099 1,778,267 5,000 5,000 34,000 100,000 55,415 45,523 244,938 1,824,158 34,000 100,000 56,279 46,614 236,893 1,870,429 34,000 100,000 57,421 48,058 239,479 1,918,118 5,000 5,000 36,000 100,000 59,164 49,221 254,384 1,965,016 36,000 100,000 60,029 50,379 246,408 2,012,395 36,000 100,000 61,170 51,785 248,955 2,059,546 20,000 20,000 396,000 1,200,000 653,963 539,962 2,829,924 21,626,757 0.1% 0.1% 1.6% 4.9% 2.7% 2.2% 11.6% 88.4% 62,500 4,688 10,275 23,900 123,963 119,167 8,938 2,000 38,230 212,281 380,615 25,000 1,875 2,000 28,875 75,833 5,688 5,200 10,400 5,200 31,200 13,000 750 66,502 700 5,200 177 2,500 10,400 11,200 20,800 5,200 5,200 13,000 13,000 10,400 311,550 7,107 852,110 694,932 (2,500) 692,432 276,973 415,459 2,500 276,973 7,107 286,580 702,039 92,914 62,500 4,688 10,550 20,900 121,238 119,167 8,938 2,000 39,450 220,779 390,333 25,000 1,875 2,000 28,875 75,833 5,688 5,200 10,400 5,200 31,200 13,000 750 67,970 700 5,200 181 2,500 10,400 11,200 20,800 5,200 5,200 13,000 13,000 10,400 313,022 10,118 863,586 730,600 (2,500) 728,100 291,240 436,860 2,500 291,240 10,118 303,858 740,717 360,047 67,917 5,094 10,825 21,300 127,735 119,167 8,938 2,000 40,780 229,564 400,448 31,250 2,344 2,000 35,594 75,833 5,688 5,400 10,800 5,400 32,400 13,500 750 69,793 700 5,400 186 2,500 10,800 11,200 21,600 5,400 5,400 13,500 13,500 10,800 320,550 9,997 894,324 745,972 (2,500) 743,472 297,389 446,083 2,500 297,389 9,997 309,886 755,969 389,259 67,917 5,094 10,900 24,300 132,460 119,167 8,938 2,000 41,940 238,183 410,227 31,250 2,344 2,000 35,594 75,833 5,688 5,400 10,800 5,400 32,400 13,500 750 72,035 700 5,400 192 2,500 10,800 11,200 21,600 5,400 5,400 13,500 13,500 10,800 322,798 9,997 911,077 774,238 (2,500) 771,738 308,695 463,043 2,500 308,695 9,997 321,192 784,235 410,982 67,917 5,094 10,950 61,300 169,510 119,167 8,938 2,000 43,120 246,894 420,118 31,250 2,344 2,000 35,594 75,833 5,688 5,400 10,800 5,400 32,400 13,500 750 73,485 700 5,400 196 2,500 10,800 11,200 21,600 5,400 5,400 13,500 13,500 10,800 324,252 9,878 959,352 772,637 (2,500) 770,137 308,055 462,082 2,500 308,055 9,878 320,433 782,515 384,275 67,917 5,094 11,350 21,300 129,910 119,167 8,938 2,000 44,460 255,852 430,416 31,250 2,344 2,000 35,594 75,833 5,688 5,400 10,800 5,400 32,400 13,500 750 75,314 700 5,400 201 2,500 10,800 11,200 21,600 5,400 5,400 13,500 13,500 10,800 326,085 9,761 931,766 846,501 (2,500) 844,001 337,600 506,401 2,500 337,600 9,761 349,861 856,262 459,724 67,917 5,094 11,575 24,300 134,785 119,167 8,938 2,000 45,690 264,568 440,363 31,250 2,344 2,000 35,594 75,833 5,688 5,400 10,800 5,400 32,400 13,500 750 77,591 700 5,400 207 2,500 10,800 11,200 21,600 5,400 5,400 13,500 13,500 10,800 328,369 9,644 948,755 875,403 (2,500) 872,903 349,161 523,742 2,500 349,161 9,644 361,306 885,048 462,863 67,917 5,094 11,375 21,500 131,785 124,167 9,313 2,000 46,840 273,339 455,658 31,250 2,344 2,000 35,594 75,833 5,688 5,500 11,000 5,500 33,000 13,750 750 79,025 700 5,500 211 2,500 11,000 11,200 22,000 5,500 5,500 13,750 13,750 11,000 332,656 9,530 965,223 905,207 (2,500) 902,707 361,083 541,624 2,500 361,083 9,530 373,112 914,736 457,358 67,917 5,094 12,150 21,500 132,560 124,167 9,313 2,000 48,300 282,217 465,996 31,250 2,344 2,000 35,594 75,833 5,688 5,500 11,000 5,500 33,000 13,750 750 80,910 700 5,500 216 2,500 11,000 11,200 22,000 5,500 5,500 13,750 13,750 11,000 334,546 9,476 978,173 939,945 (2,500) 937,445 374,978 562,467 2,500 374,978 9,476 386,954 949,421 519,944 72,500 5,438 12,300 24,700 142,488 124,167 9,313 2,000 49,620 290,798 475,898 31,250 2,344 2,000 35,594 75,833 5,688 5,600 11,200 5,600 33,600 14,000 750 83,228 700 5,600 222 2,500 11,200 11,200 22,400 5,600 5,600 14,000 14,000 11,200 339,720 9,363 1,003,062 961,954 (2,500) 959,454 383,782 575,673 2,500 383,782 9,363 395,645 971,317 507,909 72,500 5,438 12,100 21,700 139,288 124,167 9,313 2,000 50,860 299,431 485,770 31,250 2,344 2,000 35,594 75,833 5,688 5,600 11,200 5,600 33,600 14,000 750 84,705 700 5,600 226 2,500 11,200 11,200 22,400 5,600 5,600 14,000 14,000 11,200 341,202 9,311 1,011,164 1,001,231 (2,500) 998,731 399,492 599,238 2,500 399,492 9,311 411,303 1,010,542 522,289 72,500 5,438 12,525 21,700 139,713 124,167 9,313 2,000 52,270 308,210 495,959 31,250 2,344 2,000 35,594 75,833 5,688 5,600 11,200 5,600 33,600 14,000 750 86,569 700 5,600 231 2,500 11,200 11,200 22,400 5,600 5,600 14,000 14,000 11,200 343,070 9,200 1,023,536 1,036,010 (2,500) 1,033,510 413,404 620,106 2,500 413,404 9,200 425,104 1,045,210 571,412 817,917 61,344 136,875 308,400 1,625,435 1,455,000 109,125 24,000 541,560 3,122,117 5,251,802 362,500 27,188 24,000 413,688 910,000 68,250 65,200 130,400 65,200 391,200 163,000 9,000 917,126 8,400 65,200 2,446 30,000 130,400 134,400 260,800 65,200 65,200 163,000 163,000 130,400 3,937,821 113,381 11,342,127 10,284,630 (27,500) 10,254,630 4,101,852 6,152,778 30,000 4,101,852 113,381 4,245,233 10,398,011 4,858,975 3.3% 0.3% 0.6% 1.3% 6.6% 5.9% 0.4% 0.1% 2.2% 12.8% 21.5% 1.5% 0.1% 0.1% 0.0% 1.7% 3.7% 0.3% 0.3% 0.5% 0.3% 1.6% 0.7% 0.0% 3.8% 0.0% 0.3% 0.0% 0.1% 0.5% 0.5% 1.1% 0.3% 0.3% 0.7% 0.7% 0.5% 16.1% 0.5% 46.4% 42.1% -0.1% 0.0% 41.9% 16.8% 25.2% 0.0% 0.1% 16.8% 0.5% 17.4% 42.5% 19.9% Bill Snow Financial Model Projected Financial Statements Jan-08 49 Feb-08 50 Mar-08 51 Apr-08 52 May-08 53 Jun-08 54 Jul-08 55 Aug-08 56 Sep-08 57 Oct-08 58 Nov-08 59 Dec-08 60 2008 Totals % Projected B/S ASSETS Current assets Cash A/R Prepaid exp Inventory Other current assets Total current assets Property/equip, net Other LT assets Goodwill, net Total assets LIABILITIES Current Liabilities A/P Other Current Liab Total current liabilities LT Note Total liabilities EQUITY Capital Retained earnings Total equity Total liabilities and equity 2,750,000 4,971,077 7,721,077 8,263,420 2,750,000 5,407,937 8,157,937 8,702,193 2,750,000 5,854,021 8,604,021 9,150,183 2,750,000 6,317,063 9,067,063 9,624,065 2,750,000 6,779,145 9,529,145 10,088,168 2,750,000 7,285,546 10,035,546 10,596,110 2,750,000 7,809,288 10,559,288 11,122,488 2,750,000 8,350,912 11,100,912 11,666,410 2,750,000 8,913,379 11,663,379 12,234,219 2,750,000 9,489,051 12,239,051 12,813,175 2,750,000 10,088,290 12,838,290 13,418,860 2,750,000 10,708,396 13,458,396 14,040,174 2,750,000 10,708,396 13,458,396 14,040,174 4,842,304 2,571,236 7,413,540 849,880 8,263,420 5,202,351 2,660,080 7,862,431 839,763 8,702,193 5,591,610 2,718,807 8,310,418 839,765 9,150,183 6,002,592 2,791,705 8,794,297 829,768 9,624,065 6,386,866 2,881,412 9,268,278 819,890 10,088,168 6,846,591 2,939,390 9,785,980 810,129 10,596,110 7,309,453 3,012,550 10,322,003 800,485 11,122,488 7,766,811 3,103,644 10,870,455 795,956 11,666,410 8,286,755 3,160,984 11,447,739 786,480 12,234,219 8,794,664 3,236,394 12,031,058 782,117 12,813,175 9,316,953 3,329,101 12,646,054 772,806 13,418,860 9,888,365 3,388,204 13,276,568 763,606 14,040,174 9,888,365 3,388,204 13,276,568 763,606 14,040,174 326,628 326,628 215,714 542,343 329,256 329,256 215,000 544,256 331,877 331,877 214,286 546,163 343,431 343,431 213,571 557,002 346,166 346,166 212,857 559,023 348,421 348,421 212,143 560,564 351,772 351,772 211,428 563,200 354,785 354,785 210,714 565,499 360,841 360,841 210,000 570,840 364,838 364,838 209,285 574,124 371,999 371,999 208,571 580,570 373,921 373,921 207,857 581,778 373,921 373,921 207,857 373,921 Projected CFS Cash Flow from Operations Net Income Adjustments Depreciation Amortization Change in inventory Change in A/R Change in A/P Cash from operations Cash Flow from Investing Purchase/sale of equip Acquisitions Cash from Investing Activities Cash Flow from Financing Proceeds from equity, net Proceeds from debt, net Cash from Financing Activities Beginning cash balance Increase (decrease) in cash Ending cash balance 415,459 7,107 (72,410) 3,473 353,629 436,860 10,118 (88,844) 2,628 360,761 446,083 9,997 (58,728) 2,621 399,974 463,043 9,997 (72,898) 11,553 411,696 462,082 9,878 (89,707) 2,735 384,989 506,401 9,761 (57,978) 2,255 460,439 523,742 9,644 (73,160) 3,351 463,577 541,624 9,530 (91,094) 3,013 463,072 562,467 9,476 (57,340) 6,056 520,659 575,673 9,363 (75,410) 3,998 513,623 599,238 9,311 (92,707) 7,161 523,003 620,106 9,200 (59,103) 1,922 572,126 6,152,778 113,381 (889,379) 50,766 5,427,547 (260,000) (260,000) - (10,000) (10,000) - - - - (5,000) (5,000) - (5,000) (5,000) - - (280,000) (280,000) (714) (714) 4,749,390 92,914 4,842,304 (714) (714) 4,842,304 360,047 5,202,351 (714) (714) 5,202,351 389,259 5,591,610 (714) (714) 5,591,610 410,982 6,002,592 (714) (714) 6,002,592 384,275 6,386,866 (714) (714) 6,386,866 459,724 6,846,591 (714) (714) 6,846,591 462,863 7,309,453 (714) (714) 7,309,453 457,358 7,766,811 (714) (714) 7,766,811 519,944 8,286,755 (714) (714) 8,286,755 507,909 8,794,664 (714) (714) 8,794,664 522,289 9,316,953 (714) (714) 9,316,953 571,412 9,888,365 (8,571) (8,571) 4,749,390 5,138,975 9,888,365 Bill Snow Financial Projections Staffing Year 1 Month 1 0 Pre Launch Year 1 Month 2 0 Pre Launch Year 1 Month 3 300 Pre Launch Year 1 Month 4 4,444 Pre Launch Year 1 Month 5 7,946 Pre Launch Year 1 Month 6 14,085 Pre Launch Year 1 Month 7 24,822 1.0 Year 1 Month 8 43,914 1.0 Year 1 Month 9 77,990 1.0 Year 1 Month 10 94,776 1.0 Year 1 Month 11 116,191 1.0 Year 1 Month 12 143,372 1.0 Year 1 Totals 527,839 1.0 HEAD COUNT Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps TOTAL EMPLOYEES New Employees Revenue per employee Revenue Company Stage 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 $ $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 300 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 4,444 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 7,946 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 14,085 $ 1 1 1 0 0 3 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 5 4 4,964 $ 1 1 1 0 0 3 0 0 0 0 0 1 1 0 1 0 0 0 0 1 0 0 0 1 1 2 0 2 8 3 5,489 $ 1 1 1 0 0 3 0 0 0 0 0 1 1 0 1 0 0 0 0 1 0 0 0 1 1 2 0 2 8 0 9,749 1 1 1 0 0 3 0 0 0 0 0 1 1 0 1 0 0 0 0 1 0 0 0 1 1 2 0 2 8 0 11,847 1 1 1 0 0 3 0 0 0 0 0 1 1 0 1 0 0 0 0 1 0 0 0 1 1 2 0 2 8 0 14,524 1 1 1 0 0 3 0 0 0 0 0 1 1 0 2 0 0 0 0 2 0 0 0 1 1 2 0 2 9 1 15,930 1 1 1 0 0 3 0 0 0 0 0 1 1 0 2 0 0 0 0 2 0 0 0 1 1 2 0 2 9 8 58,649 $ $ $ $ $ Bill Snow Financial Projections Staffing Year 1 Month 1 0 Pre Launch Avg. Sal 60,000 20,000 50,000 50,000 50,000 Year 1 Month 2 0 Pre Launch Year 1 Month 3 300 Pre Launch Year 1 Month 4 4,444 Pre Launch Year 1 Month 5 7,946 Pre Launch Year 1 Month 6 14,085 Pre Launch Year 1 Month 7 24,822 1.0 Year 1 Month 8 43,914 1.0 Year 1 Month 9 77,990 1.0 Year 1 Month 10 94,776 1.0 Year 1 Month 11 116,191 1.0 Year 1 Month 12 143,372 1.0 Year 1 Totals 527,839 1.0 SALARY EXPENSE Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps Total Comp. - Employees $ $ $ $ $ Revenue Company Stage 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 5,000 1,667 4,167 10,833 3,333 3,333 2,000 2,000 16,167 5,000 1,667 4,167 10,833 2,917 2,917 3,333 3,333 3,333 3,333 4,000 4,000 24,417 5,000 1,667 4,167 10,833 2,917 2,917 3,333 3,333 3,333 3,333 4,000 4,000 24,417 5,000 1,667 4,167 10,833 2,917 2,917 3,333 3,333 3,333 3,333 4,000 4,000 24,417 5,000 1,667 4,167 10,833 2,917 2,917 3,333 3,333 3,333 3,333 4,000 4,000 24,417 5,000 1,667 4,167 10,833 2,917 2,917 6,667 6,667 3,333 3,333 4,000 4,000 27,750 30,000 10,000 25,000 65,000 14,583 14,583 43,333 43,333 16,667 16,667 22,000 22,000 161,583 $ $ $ 30,000 45,000 35,000 $ $ 40,000 35,000 $ $ $ $ $ $ 45,000 40,000 40,000 40,000 40,000 40,000 $ $ 30,000 25,000 $ 40,000 $ $ 24,000 10,000 Bill Snow Financial Projections Staffing Year 2 Month 1 186,582 2.0 Year 2 Month 2 226,675 2.0 Year 2 Month 3 244,782 2.0 Year 2 Month 4 270,813 2.0 Year 2 Month 5 304,170 2.0 Year 2 Month 6 334,760 2.0 Year 2 Month 7 376,914 2.0 Year 2 Month 8 409,241 2.0 Year 2 Month 9 453,764 2.0 Year 2 Month 10 508,644 2.0 Year 2 Month 11 542,796 2.0 Year 2 Month 12 588,244 2.0 Year 2 Totals 4,447,383 2.0 HEAD COUNT Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps TOTAL EMPLOYEES New Employees Revenue per employee Revenue Company Stage 1 1 1 1 1 5 1 0 0 1 1 1 2 1 2 1 1 1 1 7 1 0 1 1 1 2 0 2 19 19 9,820 1 1 1 1 1 5 1 0 0 1 1 1 2 1 2 1 1 1 1 7 1 0 1 1 1 2 0 2 19 0 11,930 1 1 1 1 1 5 1 0 0 1 1 1 2 1 2 1 1 1 1 7 1 0 1 1 1 2 0 2 19 0 12,883 1 1 1 1 1 5 1 1 1 3 1 2 3 1 2 1 1 1 1 7 1 1 2 2 2 2 1 3 25 6 10,833 1 1 1 1 1 5 1 1 1 3 1 2 3 1 2 1 1 1 1 7 1 1 2 2 2 2 1 3 25 0 12,167 1 1 1 1 1 5 1 1 1 3 1 2 3 1 2 1 1 1 1 7 1 1 2 2 2 2 1 3 25 0 13,390 1 1 1 1 1 5 1 1 1 3 1 2 3 1 2 1 1 1 1 7 1 1 2 2 2 3 1 4 26 1 14,497 1 1 1 1 1 5 1 1 1 3 1 2 3 1 2 1 1 1 1 7 1 1 2 2 2 3 1 4 26 0 15,740 1 1 1 1 1 5 1 1 1 3 1 2 3 1 3 1 1 1 1 8 1 1 2 2 2 3 1 4 27 1 16,806 1 1 1 1 1 5 1 1 1 3 1 2 3 1 3 1 1 1 1 8 1 1 2 2 2 3 1 4 27 0 18,839 1 1 1 1 1 5 1 1 1 3 1 2 3 1 3 1 1 1 1 8 1 1 2 2 2 3 1 4 27 0 20,104 1 1 1 1 1 5 1 1 1 3 1 2 3 1 3 1 1 1 1 8 1 1 2 2 2 3 1 4 27 0 21,787 1 1 1 1 1 5 1 1 1 3 1 2 3 1 3 1 1 1 1 8 1 1 2 2 2 3 1 4 27 8 164,718 $ $ $ $ $ $ $ $ $ $ $ $ $ Bill Snow Financial Projections Staffing Year 2 Month 1 186,582 2.0 Avg. Sal 100,000 80,000 80,000 80,000 80,000 Year 2 Month 2 226,675 2.0 Year 2 Month 3 244,782 2.0 Year 2 Month 4 270,813 2.0 Year 2 Month 5 304,170 2.0 Year 2 Month 6 334,760 2.0 Year 2 Month 7 376,914 2.0 Year 2 Month 8 409,241 2.0 Year 2 Month 9 453,764 2.0 Year 2 Month 10 508,644 2.0 Year 2 Month 11 542,796 2.0 Year 2 Month 12 588,244 2.0 Year 2 Totals 4,447,383 2.0 SALARY EXPENSE Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps Total Comp. - Employees $ $ $ $ $ Revenue Company Stage 8,333 6,667 6,667 6,667 6,667 35,000 2,917 2,917 4,167 3,750 7,917 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 4,583 4,583 4,583 6,000 6,000 91,000 8,333 6,667 6,667 6,667 6,667 35,000 2,917 2,917 4,167 3,750 7,917 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 4,583 4,583 4,583 6,000 6,000 91,000 8,333 6,667 6,667 6,667 6,667 35,000 2,917 2,917 4,167 3,750 7,917 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 4,583 4,583 4,583 6,000 6,000 91,000 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 3,750 8,333 9,167 9,167 6,000 2,083 8,083 113,083 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 3,750 8,333 9,167 9,167 6,000 2,083 8,083 113,083 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 3,750 8,333 9,167 9,167 6,000 2,083 8,083 113,083 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 116,083 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 8,333 4,167 4,167 4,167 4,167 30,000 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 116,083 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 12,500 4,167 4,167 4,167 4,167 34,167 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 120,250 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 12,500 4,167 4,167 4,167 4,167 34,167 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 120,250 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 12,500 4,167 4,167 4,167 4,167 34,167 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 120,250 8,333 6,667 6,667 6,667 6,667 35,000 2,917 4,167 3,750 10,833 4,167 7,500 11,667 5,000 12,500 4,167 4,167 4,167 4,167 34,167 4,583 3,750 8,333 9,167 9,167 9,000 2,083 11,083 120,250 100,000 80,000 80,000 80,000 80,000 420,000 35,000 37,500 33,750 106,250 50,000 78,750 128,750 60,000 116,667 50,000 50,000 50,000 50,000 376,667 55,000 33,750 88,750 96,250 96,250 90,000 18,750 108,750 1,325,417 $ $ $ 35,000 50,000 45,000 $ $ 50,000 45,000 $ $ $ $ $ $ 60,000 50,000 50,000 50,000 50,000 50,000 $ $ 55,000 45,000 $ 55,000 $ $ 36,000 25,000 Bill Snow Financial Projections Staffing Year 3 Month 1 643,549 3.0 Year 3 Month 2 678,950 3.0 Year 3 Month 3 724,299 3.0 Year 3 Month 4 780,278 3.0 Year 3 Month 5 815,505 3.0 Year 3 Month 6 861,454 3.0 Year 3 Month 7 918,258 3.0 Year 3 Month 8 953,160 3.0 Year 3 Month 9 1,000,258 3.0 Year 3 Month 10 1,057,738 3.0 Year 3 Month 11 1,093,715 3.0 Year 3 Month 12 1,140,913 3.0 Year 3 Totals 10,668,076 3.0 HEAD COUNT Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps TOTAL EMPLOYEES New Employees Revenue per employee Revenue Company Stage 1 1 1 1 1 5 1 1 1 3 2 3 5 2 6 2 2 2 2 16 1 1 2 3 3 2 1 3 37 37 17,393 1 1 1 1 1 5 2 1 1 4 2 3 5 2 6 2 2 2 2 16 1 2 3 3 3 2 2 4 40 3 16,974 1 1 1 1 1 5 2 1 1 4 2 3 5 2 6 2 2 2 2 16 1 2 3 3 3 2 2 4 40 0 18,107 1 1 1 1 1 5 2 1 1 4 2 3 5 2 6 2 2 2 2 16 1 2 3 3 3 2 2 4 40 0 19,507 1 1 1 1 1 5 2 1 1 4 2 3 5 2 6 2 2 2 2 16 1 2 3 3 3 2 2 4 40 0 20,388 1 1 1 1 1 5 2 1 1 4 2 3 5 2 7 2 2 2 2 17 1 2 3 3 3 2 2 4 41 1 21,011 1 1 1 1 1 5 2 1 1 4 2 3 5 2 7 2 2 2 2 17 1 2 3 3 3 2 2 4 41 0 22,397 1 1 1 1 1 5 2 1 1 4 2 3 5 2 7 2 2 2 2 17 1 2 3 3 3 2 2 4 41 0 23,248 1 1 1 1 1 5 2 1 1 4 2 4 6 2 7 2 2 2 2 17 1 2 3 4 4 2 2 4 43 2 23,262 1 1 1 1 1 5 2 1 1 4 2 4 6 2 7 2 2 2 2 17 1 2 3 4 4 3 2 5 44 1 24,039 1 1 1 1 1 5 2 1 1 4 2 4 6 2 7 2 2 2 2 17 1 2 3 4 4 3 2 5 44 0 24,857 1 1 1 1 1 5 2 1 1 4 2 4 6 2 7 2 2 2 2 17 1 2 3 4 4 3 2 5 44 0 25,930 1 1 1 1 1 5 2 1 1 4 2 4 6 2 7 2 2 2 2 17 1 2 3 4 4 3 2 5 44 7 242,456 $ $ $ $ $ $ $ $ $ $ $ $ $ Bill Snow Financial Projections Staffing Year 3 Month 1 643,549 3.0 Avg. Sal 150,000 125,000 125,000 125,000 125,000 Year 3 Month 2 678,950 3.0 Year 3 Month 3 724,299 3.0 Year 3 Month 4 780,278 3.0 Year 3 Month 5 815,505 3.0 Year 3 Month 6 861,454 3.0 Year 3 Month 7 918,258 3.0 Year 3 Month 8 953,160 3.0 Year 3 Month 9 1,000,258 3.0 Year 3 Month 10 1,057,738 3.0 Year 3 Month 11 1,093,715 3.0 Year 3 Month 12 1,140,913 3.0 Year 3 Totals 10,668,076 3.0 SALARY EXPENSE Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps Total Comp. - Employees $ $ $ $ $ Revenue Company Stage 12,500 10,417 10,417 10,417 10,417 54,167 3,333 5,000 5,000 13,333 16,667 16,250 32,917 14,167 30,000 10,000 10,000 10,000 10,000 84,167 6,250 5,000 11,250 18,750 18,750 9,167 2,917 12,083 226,667 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 30,000 10,000 10,000 10,000 10,000 84,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 237,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 30,000 10,000 10,000 10,000 10,000 84,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 237,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 30,000 10,000 10,000 10,000 10,000 84,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 237,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 30,000 10,000 10,000 10,000 10,000 84,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 237,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 242,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 242,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 16,250 32,917 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 18,750 18,750 9,167 5,833 15,000 242,917 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 25,000 25,000 9,167 5,833 15,000 254,583 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 259,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 259,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 35,000 10,000 10,000 10,000 10,000 89,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 259,167 150,000 125,000 125,000 125,000 125,000 650,000 76,667 60,000 60,000 196,667 200,000 216,667 416,667 170,000 395,000 120,000 120,000 120,000 120,000 1,045,000 75,000 115,000 190,000 250,000 250,000 123,750 67,083 190,833 2,939,167 $ $ $ 40,000 60,000 60,000 $ $ 100,000 65,000 $ $ $ $ $ $ 85,000 60,000 60,000 60,000 60,000 60,000 $ $ 75,000 60,000 $ 75,000 $ $ 55,000 35,000 Bill Snow Financial Projections Staffing Year 4 Month 1 1,198,043 3.0 Year 4 Month 2 1,235,369 3.0 Year 4 Month 3 1,282,643 3.0 Year 4 Month 4 1,340,447 3.0 Year 4 Month 5 1,377,424 3.0 Year 4 Month 6 1,424,873 3.0 Year 4 Month 7 1,483,252 3.0 Year 4 Month 8 1,520,079 3.0 Year 4 Month 9 1,568,927 3.0 Year 4 Month 10 1,628,232 3.0 Year 4 Month 11 1,665,884 3.0 Year 4 Month 12 1,714,157 3.0 Year 4 Totals 17,439,329 3.0 HEAD COUNT Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps TOTAL EMPLOYEES New Employees Revenue per employee Revenue Company Stage 1 1 1 1 1 5 2 1 1 4 2 4 6 2 8 2 2 2 2 18 1 2 3 4 4 3 2 5 45 45 26,623 1 1 1 1 1 5 2 1 1 4 2 4 6 2 8 2 2 2 2 18 1 2 3 4 4 3 2 5 45 0 27,453 1 1 1 1 1 5 2 1 1 4 2 4 6 2 8 2 2 2 2 18 1 2 3 4 4 3 2 5 45 0 28,503 1 1 1 1 1 5 2 1 1 4 2 4 6 2 8 2 2 2 2 18 1 2 3 4 4 3 2 5 45 0 29,788 1 1 1 1 1 5 2 2 1 5 2 4 6 2 8 3 3 3 3 22 1 2 3 4 4 3 2 5 50 5 27,548 1 1 1 1 1 5 2 2 1 5 2 4 6 2 8 3 3 3 3 22 1 2 3 4 4 3 2 5 50 0 28,497 1 1 1 1 1 5 2 2 1 5 2 4 6 2 8 3 3 3 3 22 1 2 3 4 4 3 2 5 50 0 29,665 1 1 1 1 1 5 2 2 1 5 2 4 6 2 8 3 3 3 3 22 1 2 3 4 4 3 2 5 50 0 30,402 1 1 1 1 1 5 2 2 1 5 2 4 6 2 8 3 3 3 3 22 1 2 3 4 4 3 2 5 50 0 31,379 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 2 31,312 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 0 32,036 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 0 32,965 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 7 335,372 $ $ $ $ $ $ $ $ $ $ $ $ $ Bill Snow Financial Projections Staffing Year 4 Month 1 1,198,043 3.0 Avg. Sal 150,000 125,000 125,000 125,000 125,000 Year 4 Month 2 1,235,369 3.0 Year 4 Month 3 1,282,643 3.0 Year 4 Month 4 1,340,447 3.0 Year 4 Month 5 1,377,424 3.0 Year 4 Month 6 1,424,873 3.0 Year 4 Month 7 1,483,252 3.0 Year 4 Month 8 1,520,079 3.0 Year 4 Month 9 1,568,927 3.0 Year 4 Month 10 1,628,232 3.0 Year 4 Month 11 1,665,884 3.0 Year 4 Month 12 1,714,157 3.0 Year 4 Totals 17,439,329 3.0 SALARY EXPENSE Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps Total Comp. - Employees $ $ $ $ $ Revenue Company Stage 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 40,000 10,000 10,000 10,000 10,000 94,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 264,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 40,000 10,000 10,000 10,000 10,000 94,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 264,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 40,000 10,000 10,000 10,000 10,000 94,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 264,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 5,000 5,000 16,667 16,667 21,667 38,333 14,167 40,000 10,000 10,000 10,000 10,000 94,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 264,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 40,000 15,000 15,000 15,000 15,000 114,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 289,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 40,000 15,000 15,000 15,000 15,000 114,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 289,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 40,000 15,000 15,000 15,000 15,000 114,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 289,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 40,000 15,000 15,000 15,000 15,000 114,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 289,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 40,000 15,000 15,000 15,000 15,000 114,167 6,250 10,000 16,250 25,000 25,000 13,750 5,833 19,583 289,167 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 25,000 25,000 18,333 5,833 24,167 298,750 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 25,000 25,000 18,333 5,833 24,167 298,750 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 25,000 25,000 18,333 5,833 24,167 298,750 150,000 125,000 125,000 125,000 125,000 650,000 80,000 100,000 60,000 240,000 200,000 260,000 460,000 170,000 495,000 160,000 160,000 160,000 160,000 1,305,000 75,000 120,000 195,000 300,000 300,000 178,750 70,000 248,750 3,398,750 $ $ $ 40,000 60,000 60,000 $ $ 100,000 65,000 $ $ $ $ $ $ 85,000 60,000 60,000 60,000 60,000 60,000 $ $ 75,000 60,000 $ 75,000 $ $ 55,000 35,000 Bill Snow Financial Projections Staffing Year 5 Month 1 1,773,387 3.0 Year 5 Month 2 1,812,538 3.0 Year 5 Month 3 1,861,137 3.0 Year 5 Month 4 1,920,941 3.0 Year 5 Month 5 1,959,593 3.0 Year 5 Month 6 2,008,367 3.0 Year 5 Month 7 2,069,096 3.0 Year 5 Month 8 2,107,323 3.0 Year 5 Month 9 2,157,596 3.0 Year 5 Month 10 2,219,401 3.0 Year 5 Month 11 2,258,803 3.0 Year 5 Month 12 2,308,501 3.0 Year 5 Totals 24,456,682 3.0 HEAD COUNT Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps TOTAL EMPLOYEES New Employees Revenue per employee Revenue Company Stage 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 52 34,104 1 1 1 1 1 5 2 2 1 5 2 4 6 2 9 3 3 3 3 23 1 2 3 4 4 4 2 6 52 0 34,857 1 1 1 1 1 5 2 2 1 5 2 5 7 2 9 3 3 3 3 23 1 2 3 5 5 4 2 6 54 2 34,465 1 1 1 1 1 5 2 2 1 5 2 5 7 2 9 3 3 3 3 23 1 2 3 5 5 4 2 6 54 0 35,573 1 1 1 1 1 5 2 2 1 5 2 5 7 2 9 3 3 3 3 23 1 2 3 5 5 4 2 6 54 0 36,289 1 1 1 1 1 5 2 2 1 5 2 5 7 2 9 3 3 3 3 23 1 2 3 5 5 4 2 6 54 0 37,192 1 1 1 1 1 5 2 2 1 5 2 5 7 2 9 3 3 3 3 23 1 2 3 5 5 4 2 6 54 0 38,317 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 4 2 6 55 1 38,315 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 4 2 6 55 0 39,229 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 5 2 7 56 1 39,632 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 5 2 7 56 0 40,336 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 5 2 7 56 0 41,223 1 1 1 1 1 5 2 2 1 5 2 5 7 2 10 3 3 3 3 24 1 2 3 5 5 5 2 7 56 4 436,726 $ $ $ $ $ $ $ $ $ $ $ $ $ Bill Snow Financial Projections Staffing Year 5 Month 1 1,773,387 3.0 Avg. Sal 150,000 125,000 125,000 125,000 125,000 Year 5 Month 2 1,812,538 3.0 Year 5 Month 3 1,861,137 3.0 Year 5 Month 4 1,920,941 3.0 Year 5 Month 5 1,959,593 3.0 Year 5 Month 6 2,008,367 3.0 Year 5 Month 7 2,069,096 3.0 Year 5 Month 8 2,107,323 3.0 Year 5 Month 9 2,157,596 3.0 Year 5 Month 10 2,219,401 3.0 Year 5 Month 11 2,258,803 3.0 Year 5 Month 12 2,308,501 3.0 Year 5 Totals 24,456,682 3.0 SALARY EXPENSE Executive CEO CFO COO CIO CMO Total Executive Administrative Admin Asst Accounting HR Total Admin Sales - Biz Dev Director Acct Execs Total Sales - Biz Dev Operations Manager Call Center Cust Srvc Field Ops Trainers QA Total Operations Marketing Marketing Mgr Acct Exec Total Mkting IT Technicians Total IT Sales - Field Reps City Manager Support Total Field Reps Total Comp. - Employees $ $ $ $ $ Revenue Company Stage 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 25,000 25,000 18,333 5,833 24,167 298,750 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 21,667 38,333 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 25,000 25,000 18,333 5,833 24,167 298,750 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 310,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 310,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 310,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 310,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 45,000 15,000 15,000 15,000 15,000 119,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 310,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 50,000 15,000 15,000 15,000 15,000 124,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 315,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 50,000 15,000 15,000 15,000 15,000 124,167 6,250 10,000 16,250 31,250 31,250 18,333 5,833 24,167 315,417 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 50,000 15,000 15,000 15,000 15,000 124,167 6,250 10,000 16,250 31,250 31,250 22,917 5,833 28,750 320,000 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 50,000 15,000 15,000 15,000 15,000 124,167 6,250 10,000 16,250 31,250 31,250 22,917 5,833 28,750 320,000 12,500 10,417 10,417 10,417 10,417 54,167 6,667 10,000 5,000 21,667 16,667 27,083 43,750 14,167 50,000 15,000 15,000 15,000 15,000 124,167 6,250 10,000 16,250 31,250 31,250 22,917 5,833 28,750 320,000 150,000 125,000 125,000 125,000 125,000 650,000 80,000 120,000 60,000 260,000 200,000 314,167 514,167 170,000 565,000 180,000 180,000 180,000 180,000 1,455,000 75,000 120,000 195,000 362,500 362,500 233,750 70,000 303,750 3,740,417 $ $ $ 40,000 60,000 60,000 $ $ 100,000 65,000 $ $ $ $ $ $ 85,000 60,000 60,000 60,000 60,000 60,000 $ $ 75,000 60,000 $ 75,000 $ $ 55,000 35,000 Bill Snow Financial Model Transaction Calculator Jan-04 1 Feb-04 2 Mar-04 3 200 1 1 20 20 Apr-04 4 350 150 150 1 10 30 May-04 5 613 263 413 1 15 45 Jun-04 6 1,073 460 872 1 23 68 Jul-04 7 1,878 805 1,677 1 34 102 Aug-04 8 3,487 1,409 3,086 1 2 71 173 Sep-04 9 4,130 2,615 5,701 2 25 198 Oct-04 10 4,960 3,098 8,798 2 32 230 Nov-04 11 6,072 3,720 12,518 2 42 272 Dec-04 12 6,877 4,554 17,072 2 44 316 2004 Totals 29,640 17,072 17,072 2 2 316 316 - Number of Transactions Number of trial users New Subscribers Total Number of Subscribers New Markets Total Number of Markets New Companies Total Number of Companies Companies enrolled in Company Mkting - No. of Trans. (trial) No. of Trans.(subscriber) No. of Company Trans. (trial) No. of Company Trans. (subscriber) Trail Transactions (lower est.) Subscriber Transactions (lower est.) Transaction per rest. - - 200 1,000 1,000 200 10 350 113 1,500 1,500 350 113 15 613 309 2,250 2,250 613 309 20 1,073 654 3,400 3,400 1,073 654 25 1,878 1,258 5,100 5,100 1,878 1,258 31 3,487 2,314 8,650 8,650 3,487 2,314 34 4,130 4,276 9,900 9,900 4,130 4,276 42 4,960 6,599 11,500 11,500 4,960 6,599 50 6,072 9,389 13,600 13,600 6,072 9,389 57 6,877 12,804 15,800 15,800 6,877 12,804 62 29,640 12,804 72,700 72,700 29,640 37,715 213 Bill Snow Financial Model Transaction Calculator Jan-05 13 Feb-05 14 9,129 6,365 28,595 3 36 434 217 Mar-05 15 9,959 6,847 35,441 3 35 469 235 Apr-05 16 11,271 7,469 42,873 1 4 68 537 269 May-05 17 12,226 8,453 51,261 4 59 596 298 Jun-05 18 13,898 9,170 60,315 4 81 677 339 Jul-05 19 15,051 10,424 70,538 1 5 73 750 375 Aug-05 20 16,573 11,288 81,474 5 67 817 409 Sep-05 21 18,897 12,430 93,250 5 100 917 459 Oct-05 22 20,050 14,173 106,648 1 6 77 994 497 Nov-05 23 21,572 15,038 120,755 6 82 1,076 538 Dec-05 24 23,896 16,179 135,796 6 107 1,183 592 2005 Totals 23,896 122,992 135,796 4 6 867 1,183 592 Number of Transactions Number of trial users New Subscribers Total Number of Subscribers New Markets Total Number of Markets New Companies Total Number of Companies Companies enrolled in Company Mkting 8,486 5,158 22,230 1 3 82 398 199 No. of Trans. (trial) No. of Trans.(subscriber) No. of Company Trans. (trial) No. of Company Trans. (subscriber) Trail Transactions (lower est.) Subscriber Transactions (lower est.) Transaction per rest. 8,486 16,673 19,900 19,900 8,486 16,673 63 9,129 21,446 21,700 21,700 9,129 21,446 70 9,959 26,581 23,450 23,450 9,959 23,450 71 11,271 32,155 26,850 26,850 11,271 26,850 71 12,226 38,445 29,800 29,800 12,226 29,800 71 13,898 45,236 33,850 33,850 13,898 33,850 71 15,051 52,903 37,500 37,500 15,051 37,500 70 16,573 61,105 40,850 40,850 16,573 40,850 70 18,897 69,937 45,850 45,850 18,897 45,850 71 20,050 79,986 49,700 49,700 20,050 49,700 70 21,572 90,567 53,800 53,800 21,572 53,800 70 23,896 101,847 59,150 59,150 23,896 59,150 70 23,896 101,847 442,400 442,400 181,008 438,918 524 Bill Snow Financial Model Transaction Calculator Jan-06 25 Feb-06 26 26,571 18,787 169,624 7 92 1,355 678 Mar-06 27 28,895 19,928 187,841 7 107 1,462 731 Apr-06 28 30,048 21,671 207,600 1 8 85 1,547 774 May-06 29 31,570 22,536 227,944 8 91 1,638 819 Jun-06 30 33,894 23,678 249,191 8 111 1,749 875 Jul-06 31 35,047 25,421 271,764 1 9 92 1,841 921 Aug-06 32 36,569 26,285 294,805 9 88 1,929 965 Sep-06 33 38,893 27,427 318,339 9 121 2,050 1,025 Oct-06 34 40,046 29,170 343,037 1 10 97 2,147 1,074 Nov-06 35 41,568 30,035 368,196 10 97 2,244 1,122 Dec-06 36 43,892 31,176 393,961 10 121 2,365 1,183 2006 Totals 43,892 294,035 393,961 4 10 1,182 2,365 1,183 Number of Transactions Number of trial users New Subscribers Total Number of Subscribers New Markets Total Number of Markets New Companies Total Number of Companies Companies enrolled in Company Mkting 25,049 17,922 152,429 1 7 80 1,263 632 No. of Trans. (trial) No. of Trans.(subscriber) No. of Company Trans. (trial) No. of Company Trans. (subscriber) Trail Transactions (lower est.) Subscriber Transactions (lower est.) Transaction per rest. 25,049 114,321 63,150 63,150 25,049 63,150 70 26,571 127,218 67,750 67,750 26,571 67,750 70 28,895 140,881 73,100 73,100 28,895 73,100 70 30,048 155,700 77,350 77,350 30,048 77,350 69 31,570 170,958 81,900 81,900 31,570 81,900 69 33,894 186,893 87,450 87,450 33,894 87,450 69 35,047 203,823 92,050 92,050 35,047 92,050 69 36,569 221,103 96,450 96,450 36,569 96,450 69 38,893 238,755 102,500 102,500 38,893 102,500 69 40,046 257,277 107,350 107,350 40,046 107,350 69 41,568 276,147 112,200 112,200 41,568 112,200 69 43,892 295,471 118,250 118,250 43,892 118,250 69 43,892 295,471 1,079,500 1,079,500 412,042 1,079,500 631 Bill Snow Financial Model Transaction Calculator Jan-07 37 Feb-07 38 46,567 33,784 448,030 11 107 2,567 1,284 Mar-07 39 48,891 34,925 475,919 11 122 2,689 1,345 Apr-07 40 50,044 36,668 504,876 1 12 100 2,789 1,395 May-07 41 51,566 37,533 534,147 12 105 2,894 1,447 Jun-07 42 53,890 38,675 563,991 12 123 3,017 1,509 Jul-07 43 55,043 40,418 594,644 1 13 105 3,122 1,561 Aug-07 44 56,565 41,282 625,476 13 103 3,225 1,613 Sep-07 45 58,889 42,424 656,399 13 135 3,360 1,680 Oct-07 46 60,042 44,167 687,937 1 14 112 3,472 1,736 Nov-07 47 61,564 45,032 719,646 14 110 3,582 1,791 Dec-07 48 63,888 46,173 751,578 14 130 3,712 1,856 2007 Totals 63,888 473,999 751,578 4 14 1,347 3,712 1,856 Number of Transactions Number of trial users New Subscribers Total Number of Subscribers New Markets Total Number of Markets New Companies Total Number of Companies Companies enrolled in Company Mkting 45,045 32,919 420,852 1 11 95 2,460 1,230 No. of Trans. (trial) No. of Trans.(subscriber) No. of Company Trans. (trial) No. of Company Trans. (subscriber) Trail Transactions (lower est.) Subscriber Transactions (lower est.) Transaction per rest. 45,045 315,639 123,000 123,000 45,045 123,000 68 46,567 336,022 128,350 128,350 46,567 128,350 68 48,891 356,939 134,450 134,450 48,891 134,450 68 50,044 378,657 139,450 139,450 50,044 139,450 68 51,566 400,610 144,700 144,700 51,566 144,700 68 53,890 422,993 150,850 150,850 53,890 150,850 68 55,043 445,983 156,100 156,100 55,043 156,100 68 56,565 469,107 161,250 161,250 56,565 161,250 68 58,889 492,299 168,000 168,000 58,889 168,000 68 60,042 515,953 173,600 173,600 60,042 173,600 67 61,564 539,735 179,100 179,100 61,564 179,100 67 63,888 563,683 185,600 185,600 63,888 185,600 67 63,888 563,683 1,844,450 1,844,450 651,994 1,844,450 673 Bill Snow Financial Model Transaction Calculator Jan-08 49 Feb-08 50 66,563 48,781 816,554 15 122 3,945 1,973 Mar-08 51 68,887 49,922 849,370 15 133 4,078 2,039 Apr-08 52 70,040 51,665 882,692 1 16 116 4,194 2,097 May-08 53 71,562 52,530 916,015 16 118 4,312 2,156 Jun-08 54 73,886 53,672 949,521 16 134 4,446 2,223 Jul-08 55 75,039 55,415 983,235 1 17 123 4,569 2,285 Aug-08 56 76,561 56,279 1,016,794 17 115 4,684 2,342 Sep-08 57 78,885 57,421 1,049,984 17 146 4,830 2,415 Oct-08 58 80,038 59,164 1,083,156 1 18 132 4,962 2,481 Nov-08 59 81,560 60,029 1,116,165 18 124 5,086 2,543 Dec-08 60 83,884 61,170 1,148,954 18 141 5,227 2,614 2008 Totals 83,884 653,963 1,148,954 4 18 1,515 5,227 2,614 Number of Transactions Number of trial users New Subscribers Total Number of Subscribers New Markets Total Number of Markets New Companies Total Number of Companies Companies enrolled in Company Mkting 65,041 47,916 784,082 1 15 111 3,823 1,912 No. of Trans. (trial) No. of Trans.(subscriber) No. of Company Trans. (trial) No. of Company Trans. (subscriber) Trail Transactions (lower est.) Subscriber Transactions (lower est.) Transaction per rest. 65,041 588,062 191,150 191,150 65,041 191,150 67 66,563 612,415 197,250 197,250 66,563 197,250 67 68,887 637,027 203,900 203,900 68,887 203,900 67 70,040 662,019 209,700 209,700 70,040 209,700 67 71,562 687,011 215,600 215,600 71,562 215,600 67 73,886 712,141 222,300 222,300 73,886 222,300 67 75,039 737,426 228,450 228,450 75,039 228,450 66 76,561 762,595 234,200 234,200 76,561 234,200 66 78,885 787,488 241,500 241,500 78,885 241,500 66 80,038 812,367 248,100 248,100 80,038 248,100 66 81,560 837,124 254,300 254,300 81,560 254,300 66 83,884 861,716 261,350 261,350 83,884 261,350 66 83,884 861,716 2,707,800 2,707,800 891,946 2,707,800 689 Bill Snow Financial Model LT Note Jan-04 1 Debt added to date 250,000 New debt 250,000.00 Beg Bal Payment Interest Principle Ending Bal 250,000.00 Interest rate 12% Term years 10 months 120 Feb-04 2 250,000 250,000.00 (3,214.29) (2,500.00) (714.29) 249,285.71 Mar-04 3 250,000 249,285.71 (3,214.29) (2,500.00) (714.29) 248,571.42 Apr-04 4 250,000 248,571.42 (3,214.29) (2,500.00) (714.29) 247,857.13 May-04 5 250,000 247,857.13 (3,214.29) (2,500.00) (714.29) 247,142.84 Jun-04 6 250,000 247,142.84 (3,214.29) (2,500.00) (714.29) 246,428.55 Jul-04 7 250,000 246,428.55 (3,214.29) (2,500.00) (714.29) 245,714.26 Aug-04 8 250,000 245,714.26 (3,214.29) (2,500.00) (714.29) 244,999.97 Sep-04 9 250,000 244,999.97 (3,214.29) (2,500.00) (714.29) 244,285.68 Oct-04 10 250,000 244,285.68 (3,214.29) (2,500.00) (714.29) 243,571.39 Nov-04 11 250,000 243,571.39 (3,214.29) (2,500.00) (714.29) 242,857.10 Dec-04 12 250,000 242,857.10 (3,214.29) (2,500.00) (714.29) 242,142.81 Totals 250,000.00 (35,357.19) (27,500.00) (7,857.19) 242,142.81 Bill Snow Financial Model LT Note Jan-05 13 Debt added to date 250,000 New debt Beg Bal 242,142.81 Payment (3,214.29) Interest (2,500.00) Principle (714.29) Ending Bal 241,428.52 Interest rate 12% Term years 10 months 120 Feb-05 14 250,000 241,428.52 (3,214.29) (2,500.00) (714.29) 240,714.23 Mar-05 15 250,000 240,714.23 (3,214.29) (2,500.00) (714.29) 239,999.94 Apr-05 16 250,000 239,999.94 (3,214.29) (2,500.00) (714.29) 239,285.65 May-05 17 250,000 239,285.65 (3,214.29) (2,500.00) (714.29) 238,571.36 Jun-05 18 250,000 238,571.36 (3,214.29) (2,500.00) (714.29) 237,857.08 Jul-05 19 250,000 237,857.08 (3,214.29) (2,500.00) (714.29) 237,142.79 Aug-05 20 250,000 237,142.79 (3,214.29) (2,500.00) (714.29) 236,428.50 Sep-05 21 250,000 236,428.50 (3,214.29) (2,500.00) (714.29) 235,714.21 Oct-05 22 250,000 235,714.21 (3,214.29) (2,500.00) (714.29) 234,999.92 Nov-05 23 250,000 234,999.92 (3,214.29) (2,500.00) (714.29) 234,285.63 Dec-05 24 250,000 234,285.63 (3,214.29) (2,500.00) (714.29) 233,571.34 Totals 242,142.81 (38,571.48) (30,000.00) (8,571.48) 233,571.34 Bill Snow Financial Model LT Note Jan-06 25 Debt added to date 250,000 New debt Beg Bal 233,571.34 Payment (3,214.29) Interest (2,500.00) Principle (714.29) Ending Bal 232,857.05 Interest rate 12% Term years 10 months 120 Feb-06 26 250,000 232,857.05 (3,214.29) (2,500.00) (714.29) 232,142.76 Mar-06 27 250,000 232,142.76 (3,214.29) (2,500.00) (714.29) 231,428.47 Apr-06 28 250,000 231,428.47 (3,214.29) (2,500.00) (714.29) 230,714.18 May-06 29 250,000 230,714.18 (3,214.29) (2,500.00) (714.29) 229,999.89 Jun-06 30 250,000 229,999.89 (3,214.29) (2,500.00) (714.29) 229,285.60 Jul-06 31 250,000 229,285.60 (3,214.29) (2,500.00) (714.29) 228,571.31 Aug-06 32 250,000 228,571.31 (3,214.29) (2,500.00) (714.29) 227,857.02 Sep-06 33 250,000 227,857.02 (3,214.29) (2,500.00) (714.29) 227,142.73 Oct-06 34 250,000 227,142.73 (3,214.29) (2,500.00) (714.29) 226,428.44 Nov-06 35 250,000 226,428.44 (3,214.29) (2,500.00) (714.29) 225,714.15 Dec-06 36 250,000 225,714.15 (3,214.29) (2,500.00) (714.29) 224,999.86 Totals 233,571.34 (38,571.48) (30,000.00) (8,571.48) 224,999.86 Bill Snow Financial Model LT Note Jan-07 37 Debt added to date 250,000 New debt Beg Bal 224,999.86 Payment (3,214.29) Interest (2,500.00) Principle (714.29) Ending Bal 224,285.57 Interest rate 12% Term years 10 months 120 Feb-07 38 250,000 224,285.57 (3,214.29) (2,500.00) (714.29) 223,571.28 Mar-07 39 250,000 223,571.28 (3,214.29) (2,500.00) (714.29) 222,856.99 Apr-07 40 250,000 222,856.99 (3,214.29) (2,500.00) (714.29) 222,142.70 May-07 41 250,000 222,142.70 (3,214.29) (2,500.00) (714.29) 221,428.41 Jun-07 42 250,000 221,428.41 (3,214.29) (2,500.00) (714.29) 220,714.12 Jul-07 43 250,000 220,714.12 (3,214.29) (2,500.00) (714.29) 219,999.83 Aug-07 44 250,000 219,999.83 (3,214.29) (2,500.00) (714.29) 219,285.54 Sep-07 45 250,000 219,285.54 (3,214.29) (2,500.00) (714.29) 218,571.25 Oct-07 46 250,000 218,571.25 (3,214.29) (2,500.00) (714.29) 217,856.96 Nov-07 47 250,000 217,856.96 (3,214.29) (2,500.00) (714.29) 217,142.67 Dec-07 48 250,000 217,142.67 (3,214.29) (2,500.00) (714.29) 216,428.38 Totals 224,999.86 (38,571.48) (30,000.00) (8,571.48) 216,428.38 Bill Snow Financial Model LT Note Jan-08 49 Debt added to date 250,000 New debt Beg Bal 216,428.38 Payment (3,214.29) Interest (2,500.00) Principle (714.29) Ending Bal 215,714.09 Interest rate 12% Term years 10 months 120 Feb-08 50 250,000 215,714.09 (3,214.29) (2,500.00) (714.29) 214,999.80 Mar-08 51 250,000 214,999.80 (3,214.29) (2,500.00) (714.29) 214,285.51 Apr-08 52 250,000 214,285.51 (3,214.29) (2,500.00) (714.29) 213,571.23 May-08 53 250,000 213,571.23 (3,214.29) (2,500.00) (714.29) 212,856.94 Jun-08 54 250,000 212,856.94 (3,214.29) (2,500.00) (714.29) 212,142.65 Jul-08 55 250,000 212,142.65 (3,214.29) (2,500.00) (714.29) 211,428.36 Aug-08 56 250,000 211,428.36 (3,214.29) (2,500.00) (714.29) 210,714.07 Sep-08 57 250,000 210,714.07 (3,214.29) (2,500.00) (714.29) 209,999.78 Oct-08 58 250,000 209,999.78 (3,214.29) (2,500.00) (714.29) 209,285.49 Nov-08 59 250,000 209,285.49 (3,214.29) (2,500.00) (714.29) 208,571.20 Dec-08 60 250,000 208,571.20 (3,214.29) (2,500.00) (714.29) 207,856.91 Totals 216,428.38 (38,571.48) (30,000.00) (8,571.48) 207,856.91 Bill Snow Financial Model Capitalization Table Exit Scenarios Year 3 Year 4 2,256,011 ###### 6,157,476 30,787,382 Idea EBITDA 5X FF Angel VC - A IPO Year 5 10,398,011 51,990,057 5 pre money investment post money Share price $ $ $ 0 $ 750,000 $ 250,000 ###### $ 0.17 75.0% $ 2,000,000 25.0% $ 500,000 #### $ 2,500,000 $ 0.33 80.0% 20.0% #### ###### ###### ###### $ 0.67 71.4% $ 75,000,000 69.4% 28.6% $ 33,000,000 30.6% #### ######## #### $ 7.14 $ 1.07 $ 2.93 $ 4.95 Authorized Shares Common 10,000,000 Shares owned CEO CFO COO CIO CMO Director of Biz Dev Director of Ops Director of Marketing Employee 8 Other employees Option plan FF Angel VC - A VC - B IPO Total 10,000,000 10,000,000 20,000,000 50,000,000 ###### 40.0% 750,000 30.0% 750,000 30.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% ###### #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 6,000,000 16.7% 12.5% 12.5% 8.3% 8.3% 1.7% 1.7% 1.7% 0.8% 2.5% 8.3% 25.0% 0.0% 0.0% 0.0% 0.0% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 7,500,000 13.3% 10.0% 10.0% 6.7% 6.7% 1.3% 1.3% 1.3% 0.7% 2.0% 6.7% 20.0% 20.0% 0.0% 0.0% 0.0% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 3,000,000 ###### 9.5% 7.1% 7.1% 4.8% 4.8% 1.0% 1.0% 1.0% 0.5% 1.4% 4.8% 14.3% 14.3% 28.6% 0.0% 0.0% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 3,000,000 4,620,000 15,120,000 6.6% 5.0% 5.0% 3.3% 3.3% 0.7% 0.7% 0.7% 0.3% 1.0% 3.3% 9.9% 9.9% 19.8% 0.0% 30.6% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 3,000,000 ###### 9.5% 7.1% 7.1% 4.8% 4.8% 1.0% 1.0% 1.0% 0.5% 1.4% 4.8% 14.3% 14.3% 28.6% 0.0% 0.0% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 3,000,000 10,500,000 9.5% 7.1% 7.1% 4.8% 4.8% 1.0% 1.0% 1.0% 0.5% 1.4% 4.8% 14.3% 14.3% 28.6% 0.0% 0.0% #### 1,000,000 750,000 750,000 500,000 500,000 100,000 100,000 100,000 50,000 150,000 500,000 1,500,000 1,500,000 3,000,000 10,500,000 9.5% 7.1% 7.1% 4.8% 4.8% 1.0% 1.0% 1.0% 0.5% 1.4% 4.8% 14.3% 14.3% 28.6% 0.0% 0.0% #### Value of holdings CEO $ CFO $ COO $ CIO $ CMO $ Director of Biz Dev $ Director of Ops $ Director of Marketing $ Employee 8 $ Other employees $ Option plan $ FF $ Angel $ VC - A $ VC - B $ IPO $ Total Capitalization $ - $ 166,667 $ 125,000 $ 125,000 $ 83,333 $ 83,333 $ 16,667 $ 16,667 $ 16,667 $ 8,333 $ 25,000 $ 83,333 $ 250,000 $ $ $ $ ###### $ 333,333 $ 250,000 $ 250,000 $ 166,667 $ 166,667 $ 33,333 $ 33,333 $ 33,333 $ 16,667 $ 50,000 $ 166,667 $ 500,000 $ 500,000 $ $ $ $ 2,500,000 $ 666,667 $ 500,000 $ 500,000 $ 333,333 $ 333,333 $ 66,667 $ 66,667 $ 66,667 $ 33,333 $ 100,000 $ 333,333 ###### ###### ###### $ $ ###### $ 7,142,857 $ 5,357,143 $ 5,357,143 $ 3,571,429 $ 3,571,429 $ 714,286 $ 714,286 $ 714,286 $ 357,143 $ 1,071,429 $ 3,571,429 $ 10,714,286 $ 10,714,286 $ 21,428,571 $ $ 33,000,000 ######## ###### $ 805,718 $ 805,718 $ 537,145 $ 537,145 $ 107,429 $ 107,429 $ 107,429 $ 53,715 $ 161,144 $ 537,145 ###### ###### ###### $ $ ###### $ 2,932,132 $ 2,199,099 $ 2,199,099 $ 1,466,066 $ 1,466,066 $ 293,213 $ 293,213 $ 293,213 $ 146,607 $ 439,820 $ 1,466,066 $ 4,398,197 $ 4,398,197 $ 8,796,395 $ $ ####### $ 4,951,434 $ 3,713,576 $ 3,713,576 $ 2,475,717 $ 2,475,717 $ 495,143 $ 495,143 $ 495,143 $ 247,572 $ 742,715 $ 2,475,717 $ 7,427,151 $ 7,427,151 ####### $ $ ####### Bill Snow Financial Model Development Jan-04 Company Stage Pre Launch Feb-04 Pre Launch Mar-04 Pre Launch Apr-04 Pre Launch May-04 Pre Launch Jun-04 Pre Launch Jul-04 1.0 Aug-04 1.0 Sep-04 1.0 Oct-04 1.0 Nov-04 1.0 Dec-04 1.0 2004 Year 1 200,000 450,000 650,000 Development Costs Website & Voice App Version 2.0 Development Version 3.0 Development Total Development Costs Est. Project Cost 200,000 450,000 500,000 1,150,000 Dev. time 6 6 12 Start of Devel. 1 7 13 End of Launc Devel. h 6 12 24 7 13 25 1 33,333 33,333 2 33,333 33,333 3 33,333 33,333 4 33,333 33,333 5 33,333 33,333 6 33,333 33,333 7 75,000 75,000 8 75,000 75,000 9 75,000 75,000 10 75,000 75,000 11 75,000 75,000 12 75,000 75,000 Website and Voice App development Version 1.0 200,000 ENTER AMOUNT HERE Version 2.0 450,000 ENTER AMOUNT HERE Version 3.0 500,000 ENTER AMOUNT HERE Bill Snow Financial Model Development Jan-05 Company Stage 2.0 Feb-05 2.0 Mar-05 2.0 Apr-05 2.0 May-05 2.0 Jun-05 2.0 Jul-05 2.0 Aug-05 2.0 Sep-05 2.0 Oct-05 2.0 Nov-05 2.0 Dec-05 2.0 2005 Year 2 500,000 500,000 Development Costs Website & Voice App Version 2.0 Development Version 3.0 Development Total Development Costs Est. Project Cost 200,000 450,000 500,000 1,150,000 Dev. time 6 6 12 Start of Devel. 1 7 13 End of Launc Devel. h 6 12 24 7 13 25 13 41,667 41,667 14 41,667 41,667 15 41,667 41,667 16 41,667 41,667 17 41,667 41,667 18 41,667 41,667 19 41,667 41,667 20 41,667 41,667 21 41,667 41,667 22 41,667 41,667 23 41,667 41,667 24 41,667 41,667 Website and Voice App development Version 1.0 200,000 ENTER AMOUNT HERE Version 2.0 450,000 ENTER AMOUNT HERE Version 3.0 500,000 ENTER AMOUNT HERE Bill Snow Financial Model Development Jan-06 Company Stage 3.0 Feb-06 3.0 Mar-06 3.0 Apr-06 3.0 May-06 3.0 Jun-06 3.0 Jul-06 3.0 Aug-06 3.0 Sep-06 3.0 Oct-06 3.0 Nov-06 3.0 Dec-06 3.0 2006 Year 3 - Development Costs Website & Voice App Version 2.0 Development Version 3.0 Development Total Development Costs Est. Project Cost 200,000 450,000 500,000 1,150,000 Dev. time 6 6 12 Start of Devel. 1 7 13 End of Launc Devel. h 6 12 24 7 13 25 25 - 26 - 27 - 28 - 29 - 30 - 31 - 32 - 33 - 34 - 35 - 36 - Website and Voice App development Version 1.0 200,000 ENTER AMOUNT HERE Version 2.0 450,000 ENTER AMOUNT HERE Version 3.0 500,000 ENTER AMOUNT HERE Bill Snow Financial Model Development Jan-07 Company Stage 3.0 Feb-07 3.0 Mar-07 3.0 Apr-07 3.0 May-07 3.0 Jun-07 3.0 Jul-07 3.0 Aug-07 3.0 Sep-07 3.0 Oct-07 3.0 Nov-07 3.0 Dec-07 3.0 2007 Year 4 - Development Costs Website & Voice App Version 2.0 Development Version 3.0 Development Total Development Costs Est. Project Cost 200,000 450,000 500,000 1,150,000 Dev. time 6 6 12 Start of Devel. 1 7 13 End of Launc Devel. h 6 12 24 7 13 25 37 - 38 - 39 - 40 - 41 - 42 - 43 - 44 - 45 - 46 - 47 - 48 - Website and Voice App development Version 1.0 200,000 ENTER AMOUNT HERE Version 2.0 450,000 ENTER AMOUNT HERE Version 3.0 500,000 ENTER AMOUNT HERE Bill Snow Financial Model Development Jan-08 Company Stage 3.0 Feb-08 3.0 Mar-08 3.0 Apr-08 3.0 May-08 3.0 Jun-08 3.0 Jul-08 3.0 Aug-08 3.0 Sep-08 3.0 Oct-08 3.0 Nov-08 3.0 Dec-08 3.0 2008 Year 5 - Development Costs Website & Voice App Version 2.0 Development Version 3.0 Development Total Development Costs Est. Project Cost 200,000 450,000 500,000 1,150,000 Dev. time 6 6 12 Start of Devel. 1 7 13 End of Launc Devel. h 6 12 24 7 13 25 49 - 50 - 51 - 52 - 53 - 54 - 55 - 56 - 57 - 58 - 59 - 60 - Website and Voice App development Version 1.0 200,000 ENTER AMOUNT HERE Version 2.0 450,000 ENTER AMOUNT HERE Version 3.0 500,000 ENTER AMOUNT HERE