Ballerina Tech Assumptions & Summary
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THIS COMPANY AND THE MODEL
Ballerina Tech Assumptions & Summary
Assumptions Funding closing Sales/CAC Customer Acquisition Cost Monthly Budget Year 1 Yr 2 Monthly Budget Yr 3 Monthly Budget % Dormant Inactive
COLORED CELLS ARE HIGHLIGHTED TO AID DISCUSSION
12/31/2009 $19.00 $8,000 Increase per month $100,000 per month Yr 4 Monthly Budget $150,000 per month Yr 5 Monthly Budget 80.0%
Products Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9
Per SubscriberPenetration % 59.95 100% 0% 39.95 5% 79.95 2% 25.00 2% 5.00 2% 65.00 2%
Staff Additions Customer Service Technical Support Supervisors
Active customers 10,000 10,000 10
VC Return Exit EBITDA EBITDA multiple exit VC ownership VC return VC Investment VC multiple
3,277,546 8 0.50 13,110,185 3,000,000 4.4
Year Start 1 7 1 2 3 3 4
Y AND THE MODEL ARE TOTALLY FICTIOUS
LIGHTED TO AID DISCUSSION
$200,000 $250,000 Gross Margin 90% 0% 99% 99% 99% 99% 99%
Revenue $ Gross Margin $ OPEX $ EBITDA $ Revenue Growth GM % EBITDA %
Year 1 1,981,742 1,784,747 2,090,265 (305,518) na 90% -15%
Cash Accounts Receivable PP&E Current Liabilities Funded Debt Due to Shareholders Equity SW units sold annually
2,355,134 152,452 57,500 143,105 2,671,982 32,842
FINANCIAL SUMMARY Year 2 3,842,151 3,462,972 2,825,340 637,632 94% 90% 17% 2,839,161 159,697 76,528 150,288 3,175,097 63,158
Sources and Uses Sources Equity Total
$ Uses 3,000,000 Marketing and Admin Closing Costs 3,000,000 Total
ANCIAL SUMMARY Year 3 5,942,826 5,372,293 3,589,140 1,783,153 55% 90% 30% 3,874,498 249,364 118,194 199,077 4,292,980 94,737
$ 2,750,000 250,000 3,000,000
Year 4 8,069,375 7,307,165 5,019,840 2,287,325 36% 91% 28%
Year 5 10,118,560 9,165,511 5,887,965 3,277,546 25% 91% 32%
5,201,893 337,036 194,444 277,569 5,705,804 126,316
7,094,073 425,184 275,278 332,909 7,711,626 157,895
Ballerina Tech
ANNU
Income Statement Detail Row 24
Revenue $ Gross Margin $ OPEX $ EBITDA $ Revenue Growth GM % EBITDA % SW units sold YEAR YTD
1 Month 1
Year 1 1,981,742 1,784,747 2,090,265 (305,518) na 90% -15% 32,842 1 Month 2
Revenue Gross Margin
105,940 53,072
25,399 22,873
50,798 45,747
Operating Expenses
512,863
122,783
130,783
(459,791) 1,658 (461,449)
(99,909) 1,528 (101,437) (101,437)
(85,036) 1,528 (86,564) (86,564)
Operating Income/EBITDA Depreciation Interest Expense Income Before Tax Taxes Net Income Customer Acquisition Cost Monthly Budget New Customers
(461,449) $19.00
19.00 8,000 421
19.00 16,000 842 421 842 1,263 253
842 8 -
Customers Opening Additions Ending Customers Active Customers
20.00%
421 421 84
Units Sold Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9
100.0% 0.0% 5.0% 2.0% 2.0% 2.0% 2.0% 0.0% 0.0%
421 4 -
Revenue
Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9 Total Revenue Revenue/customer Gross Margin Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9 Total Gross Margin Gross Margin/Customer Staffing Additions CSR Tech Support Supervisors Expenses Salaries CEO CFO COO Marketing Manager Marketing Associate 1 Marketing Associate 2 Chief Engineer Engineer Software 1 Engineer Software 2 Admin/Office Manager Controller Accountant Analyst CSR Tech Support Supervisors Employee Benefits & Taxes Total Salaries G&A Accounting/Audit Customer Acquisition
59.95 39.95 79.95 25.00 5.00 65.00 -
25,239 160 25,399 60
50,478 320 50,798 60
0.90 0.00 0.99 0.99 0.99 0.99 0.99 0.00 0.00
22,715 158 22,873 54.32
45,430 316 45,747 54.32
10000 10000 10
1 1
1 1
### ### ### ### $40,000 $35,000 ### $80,000 $80,000 $65,000 $85,000 $35,000 $60,000 $35,000 $45,000 $55,000 17%
5,000
-
-
14,583 10,000
14,583 10,000
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
5,000 8,000
5,000 16,000
Dues, Subscription Fees Finance Consulting Insurance 1 Insurance 2 Internet Legal Marketing Consulting Other Parking Postage and Delivery Printing Rent Repairs and Maintenance Technical Consulting Telephone Utilities Website Hosting Website Maintenance Total Total Expenses SG&A Per New Customer Operating Income/EBITDA Depreciation Interest Expense Income Before Tax
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 47,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 55,220
122,783 291.61 (99,909) 1,528 (101,437)
130,783 155.30 (85,036) 1,528 (86,564)
ANNUAL SUMMARY Year 2 3,842,151 3,462,972 2,825,340 637,632
Year 3 5,942,826 5,372,293 3,589,140 1,783,153
94% 90% 17% 63,158 1 Month 3
Year 4 8,069,375 7,307,165 5,019,840 2,287,325
55% 90% 30% 94,737 1 Month 4
Year 5 10,118,560 9,165,511 5,887,965 3,277,546
36% 91% 28% 126,316 1 Month 5
THIS COMPANY AN
25% 91% 32% 157,895 1 Month 6
1 Month 7
76,236 68,659
101,635 91,533
127,034 114,406
152,432 137,279
177,831 160,152
138,783
146,783
154,783
162,783
185,595
(70,123) 1,667 (71,790) (71,790)
(55,250) 1,667 (56,917) (56,917)
(40,377) 1,806 (42,182) (42,182)
(25,503) 1,806 (27,309) (27,309)
(25,443) 1,944 (27,387) (27,387)
19.00 24,000 1,263
19.00 32,000 1,684
19.00 40,000 2,105
19.00 48,000 2,526
19.00 56,000 2,947
1,263 1,263 2,526 505
2,526 1,684 4,211 842
4,211 2,105 6,316 1,263
6,316 2,526 8,842 1,768
8,842 2,947 11,789 2,358
1,263 13 -
1,684 17 -
2,105 21 -
2,526 25 -
2,947 29 -
75,717 519 76,236 60 68,145 514 68,659 54.36
100,956 679 101,635 60 90,860 672 91,533 54.35
1 1 -
1 1 -
126,195 839 127,034 60 113,575 831 114,406 54.34 1 1 -
151,434 999 -
176,673 1,159 177,831 60
136,290 989 -
159,005 1,147 160,152 54.34
152,432 60
137,279 54.34 1 1 -
1 1 -
14,583 10,000
14,583 10,000
14,583 10,000
14,583 10,000
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
5,000 24,000
5,000 32,000
5,000 40,000
5,000 48,000
5,000 56,000
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 63,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 71,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 79,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 87,220
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 102,720
138,783 109.87 (70,123) 1,667 (71,790)
146,783 87.15 (55,250) 1,667 (56,917)
154,783 73.52 (40,377) 1,806 (42,182)
162,783 64.43 (25,503) 1,806 (27,309)
185,595 62.97 (25,443) 1,944 (27,387)
HIS COMPANY AND THE MODEL ARE TOTALLY FICTIOUS
1 Month 8
1 Month 9
1 Month 10
1 Month 11
1 Month 12
2 Month 13
203,270 183,065
228,669 205,938
254,067 228,812
279,466 251,685
304,905 274,598
329,787 298,092
193,595
201,595
209,595
217,595
225,595
229,595
4,343 2,083 2,260 2,260
19,217 2,083 17,133 17,133
34,090 2,222 31,868 31,868
49,003 2,222 46,781 46,781
68,497 2,361 66,136 66,136
19.00 64,000 3,368
19.00 72,000 3,789
19.00 80,000 4,211
19.00 88,000 4,632
19.00 96,000 5,053
19.00 100,000 5,263
11,789 3,368 15,158 3,032
15,158 3,789 18,947 3,789
18,947 4,211 23,158 4,632
23,158 4,632 27,789 5,558
27,789 5,053 32,842 6,568
32,842 5,263 38,105 7,621
3,368 34 -
3,789 38 -
4,210 42 -
4,631 46 -
5,052 51 -
5,263 53 152 -
(10,530) 1,944 (12,474) (12,474)
201,912 1,358 203,270 60
227,151 1,518 228,669 60
252,390 1,678 254,067 60
277,628 1,838 279,466 60
302,867 2,037 304,905 60
315,517 2,117 12,152 329,787 63
181,720 1,345 183,065 54.35
204,435 1,503 205,938 54.34
227,151 1,661 228,812 54.34
249,866 1,819 251,685 54.34
272,581 2,017 274,598 54.35
283,965 2,096 12,031 298,092 56.64
1 1
1 1
1 1
1 1
1 1
1 1 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
5,000 64,000
5,000 72,000
5,000 80,000
5,000 88,000
5,000 96,000
5,000 100,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 110,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 118,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 126,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 134,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 142,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
193,595 57.47 (10,530) 1,944 (12,474)
201,595 53.20 4,343 2,083 2,260
209,595 49.78 19,217 2,083 17,133
217,595 46.98 34,090 2,222 31,868
225,595 44.65 49,003 2,222 46,781
229,595 43.62 68,497 2,361 66,136
ICTIOUS
2 Month 14
2 Month 15
2 Month 16
2 Month 17
2 Month 18
2 Month 19
319,273 287,684
319,313 287,724
319,273 287,684
319,313 287,724
319,313 287,724
319,273 287,684
229,595
229,595
237,395
237,395
237,395
237,395
58,089 2,361 55,728 55,728
58,129 2,500 55,629 55,629
50,289 2,639 47,650 47,650
50,329 2,778 47,551 47,551
50,329 2,917 47,412 47,412
50,289 3,056 47,233 16,532 30,702
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
38,105 5,263 43,368 8,674
43,368 5,263 48,632 9,726
48,632 5,263 53,895 10,779
53,895 5,263 59,158 11,832
59,158 5,263 64,421 12,884
64,421 5,263 69,684 13,937
5,263 52 21 -
5,263 53 21 -
5,263 52 21 -
5,263 53 21 -
5,263 53 21 -
5,263 52 21 -
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
1 1
1 1
2 2
2 2
2 2
2 2 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
229,595 43.62 58,089 2,361 55,728
229,595 43.62 58,129 2,500 55,629
237,395 45.11 50,289 2,639 47,650
237,395 45.11 50,329 2,778 47,551
237,395 45.11 50,329 2,917 47,412
237,395 45.11 50,289 3,056 47,233
2 Month 20
2 Month 21
2 Month 22
2 Month 23
2 Month 24
3 Month 25
319,313 287,724
319,313 287,724
319,273 287,684
319,313 287,724
319,393 287,803
499,604 452,016
237,395
237,395
237,395
237,395
237,395
295,195
50,329 3,194 47,134 16,497 30,637
50,329 3,333 46,995 16,448 30,547
50,289 3,472 46,817 16,386 30,431
50,329 3,611 46,717 16,351 30,366
50,408 3,750 46,658 16,330 30,327
156,821 4,028 152,793 53,478 99,316
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 150,000 7,895
69,684 5,263 74,947 14,989
74,947 5,263 80,211 16,042
80,211 5,263 85,474 17,095
85,474 5,263 90,737 18,147
90,737 5,263 96,000 19,200
96,000 7,895 103,895 20,779
5,263 53 21 -
5,263 53 21 -
5,263 52 21 -
5,263 53 21 -
5,263 53 22 -
7,894 78 31 415 2,078 -
315,517 2,117 1,679 319,313 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,117 1,759 319,393 61
473,245 3,116 2,478 10,375 10,389 499,604 63
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,741 287,803 54.68
425,921 3,085 2,454 10,271 10,286 452,016 57.26
2 2
2 2
2 2
2 2
2 2
3 3 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 150,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
237,395 45.11 50,329 3,194 47,134
237,395 45.11 50,329 3,333 46,995
237,395 45.11 50,289 3,472 46,817
237,395 45.11 50,329 3,611 46,717
237,395 45.11 50,408 3,750 46,658
295,195 37.39 156,821 4,028 152,793
3 Month 26
3 Month 27
3 Month 28
3 Month 29
3 Month 30
3 Month 31
490,939 443,437
491,623 444,115
492,518 445,000
493,202 445,678
494,097 446,564
494,886 447,345
295,195
295,195
295,195
295,195
295,195
302,995
148,242 4,167 144,076 50,426 93,649
148,920 4,444 144,475 50,566 93,909
149,805 4,583 145,222 50,828 94,394
150,483 4,861 145,622 50,968 94,654
151,369 5,000 146,369 51,229 95,140
144,350 5,417 138,933 48,627 90,307
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
103,895 7,895 111,789 22,358
111,789 7,895 119,684 23,937
119,684 7,895 127,579 25,516
127,579 7,895 135,474 27,095
135,474 7,895 143,368 28,674
143,368 7,895 151,263 30,253
7,894 79 32 32 2,236 -
7,894 79 31 31 2,394 -
7,894 79 32 32 2,552 -
7,894 79 31 31 2,709 -
7,894 79 32 32 2,867 -
7,894 79 32 32 3,025 -
473,245 3,156 2,558 800 11,179 490,939 62
473,245 3,156 2,478 775 11,968 491,623 62
473,245 3,156 2,558 800 12,758 492,518 62
473,245 3,156 2,478 775 13,547 493,202 62
473,245 3,156 2,558 800 14,337 494,097 63
473,245 3,156 2,558 800 15,126 494,886 63
425,921 3,124 2,533 792 11,067 443,437 56.17
425,921 3,124 2,454 767 11,849 444,115 56.25
425,921 3,124 2,533 792 12,630 445,000 56.37
425,921 3,124 2,454 767 13,412 445,678 56.45
425,921 3,124 2,533 792 14,193 446,564 56.56
425,921 3,124 2,533 792 14,975 447,345 56.66
3 3
3 3
3 3
3 3
3 3
4 4 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
295,195 37.39 148,242 4,167 144,076
295,195 37.39 148,920 4,444 144,475
295,195 37.39 149,805 4,583 145,222
295,195 37.39 150,483 4,861 145,622
295,195 37.39 151,369 5,000 146,369
302,995 38.38 144,350 5,417 138,933
3 Month 32
3 Month 33
3 Month 34
3 Month 35
3 Month 36
4 Month 37
495,571 448,023
496,465 448,908
497,150 449,586
498,044 450,471
498,728 451,149
712,193 648,278
302,995
302,995
302,995
302,995
302,995
412,470
145,028 5,556 139,472 48,815 90,657
145,913 5,972 139,941 48,979 90,962
146,591 6,111 140,480 49,168 91,312
147,476 6,528 140,949 49,332 91,617
148,154 6,667 141,487 49,521 91,967
235,808 7,292 228,516 79,981 148,535
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 200,000 10,526
151,263 7,895 159,158 31,832
159,158 7,895 167,053 33,411
167,053 7,895 174,947 34,989
174,947 7,895 182,842 36,568
182,842 7,895 190,737 38,147
190,737 10,526 201,263 40,253
7,894 79 31 31 3,183 -
7,894 79 32 32 3,341 -
7,894 79 31 31 3,499 -
7,894 79 32 32 3,657 -
7,894 79 31 31 3,815 -
10,526 105 43 43 4,025 805 -
473,245 3,156 2,478 775 15,916 495,571 63
473,245 3,156 2,558 800 16,705 496,465 63
473,245 3,156 2,478 775 17,495 497,150 63
473,245 3,156 2,558 800 18,284 498,044 63
473,245 3,156 2,478 775 19,074 498,728 63
631,034 4,195 3,438 1,075 20,126 52,325 712,193 68
425,921 3,124 2,454 767 15,757 448,023 56.75
425,921 3,124 2,533 792 16,538 448,908 56.86
425,921 3,124 2,454 767 17,320 449,586 56.95
425,921 3,124 2,533 792 18,101 450,471 57.06
425,921 3,124 2,454 767 18,883 451,149 57.15
567,930 4,153 3,403 1,064 19,925 51,802 648,278 61.59
4 4
4 4
4 4
4 4
4 4
5 5 1
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 200,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
302,995 38.38 145,028 5,556 139,472
302,995 38.38 145,913 5,972 139,941
302,995 38.38 146,591 6,111 140,480
302,995 38.38 147,476 6,528 140,949
302,995 38.38 148,154 6,667 141,487
412,470 39.18 235,808 7,292 228,516
4 Month 38
4 Month 39
4 Month 40
4 Month 41
4 Month 42
4 Month 43
663,545 600,117
664,638 601,198
665,651 602,201
666,703 603,243
667,756 604,285
668,848 605,367
412,470
412,470
412,470
412,470
420,270
420,270
187,647 7,431 180,216 63,076 117,141
188,728 8,056 180,673 63,236 117,437
189,731 8,194 181,537 63,538 117,999
190,773 8,819 181,954 63,684 118,270
184,015 9,097 174,918 61,221 113,697
185,097 9,722 175,375 61,381 113,994
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
201,263 10,526 211,789 42,358
211,789 10,526 222,316 44,463
222,316 10,526 232,842 46,568
232,842 10,526 243,368 48,674
243,368 10,526 253,895 50,779
253,895 10,526 264,421 52,884
10,526 105 42 42 4,236 42 -
10,526 106 42 42 4,446 42 -
10,526 105 42 42 4,657 42 -
10,526 105 42 42 4,867 42 -
10,526 105 42 42 5,078 42 -
10,526 106 42 42 5,288 42 -
631,034 4,195 3,358 1,050 21,179 2,730 663,545 63
631,034 4,235 3,358 1,050 22,232 2,730 664,638 63
631,034 4,195 3,358 1,050 23,284 2,730 665,651 63
631,034 4,195 3,358 1,050 24,337 2,730 666,703 63
631,034 4,195 3,358 1,050 25,389 2,730 667,756 63
631,034 4,235 3,358 1,050 26,442 2,730 668,848 64
567,930 4,153 3,324 1,040 20,967 2,703 600,117 57.01
567,930 4,192 3,324 1,040 22,009 2,703 601,198 57.11
567,930 4,153 3,324 1,040 23,051 2,703 602,201 57.21
567,930 4,153 3,324 1,040 24,093 2,703 603,243 57.31
567,930 4,153 3,324 1,040 25,136 2,703 604,285 57.41
567,930 4,192 3,324 1,040 26,178 2,703 605,367 57.51
5 5 1
5 5 1
5 5 1
5 5 1
6 6 1
6 6 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
412,470 39.18 187,647 7,431 180,216
412,470 39.18 188,728 8,056 180,673
412,470 39.18 189,731 8,194 181,537
412,470 39.18 190,773 8,819 181,954
420,270 39.93 184,015 9,097 174,918
420,270 39.93 185,097 9,722 175,375
4 Month 44
4 Month 45
4 Month 46
4 Month 47
4 Month 48
5 Month 49
5 Month 50
669,861 606,369
670,914 607,412
672,176 608,661
673,019 609,496
674,072 610,538
835,894 756,546
837,340 757,978
420,270
420,270
420,270
428,070
428,070
478,070
478,070
186,099 10,000 176,099 61,635 114,465
187,142 10,625 176,517 61,781 114,736
188,391 10,903 177,489 62,121 115,368
181,426 11,667 169,759 59,416 110,343
182,468 11,944 170,523 59,683 110,840
278,476 12,708 265,768 93,019 172,749
279,908 12,986 266,922 93,423 173,499
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 250,000 13,158
19.00 250,000 13,158
264,421 10,526 274,947 54,989
274,947 10,526 285,474 57,095
285,474 10,526 296,000 59,200
296,000 10,526 306,526 61,305
306,526 10,526 317,053 63,411
317,053 13,158 330,211 66,042
330,211 13,158 343,368 68,674
10,526 105 42 42 5,499 42 -
10,526 105 42 42 5,709 42 -
10,526 106 43 43 5,920 43 -
10,526 105 42 42 6,131 42 -
10,526 105 42 42 6,341 42 -
13,157 132 52 52 6,604 52 -
13,157 131 53 53 6,867 53 -
631,034 4,195 3,358 1,050 27,495 2,730 669,861 64
631,034 4,195 3,358 1,050 28,547 2,730 670,914 64
631,034 4,235 3,438 1,075 29,600 2,795 672,176 64
631,034 4,195 3,358 1,050 30,653 2,730 673,019 64
631,034 4,195 3,358 1,050 31,705 2,730 674,072 64
788,762 5,273 4,157 1,300 33,021 3,380 835,894 64
788,762 5,233 4,237 1,325 34,337 3,445 837,340 64
567,930 4,153 3,324 1,040 27,220 2,703 606,369 57.61
567,930 4,153 3,324 1,040 28,262 2,703 607,412 57.70
567,930 4,192 3,403 1,064 29,304 2,767 608,661 57.82
567,930 4,153 3,324 1,040 30,346 2,703 609,496 57.90
567,930 4,153 3,324 1,040 31,388 2,703 610,538 58.00
709,886 5,221 4,116 1,287 32,691 3,346 756,546 57.50
709,886 5,181 4,195 1,312 33,993 3,411 757,978 57.61
6 6 1
6 6 1
6 6 1
7 7 1
7 7 1
7 7 1
7 7 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
420,270 39.93 186,099 10,000 176,099
420,270 39.93 187,142 10,625 176,517
420,270 39.93 188,391 10,903 177,489
428,070 40.67 181,426 11,667 169,759
428,070 40.67 182,468 11,944 170,523
478,070 36.33 278,476 12,708 265,768
478,070 36.33 279,908 12,986 266,922
5 Month 51
5 Month 52
5 Month 53
5 Month 54
5 Month 55
5 Month 56
5 Month 57
838,696 759,320
839,801 760,415
841,327 761,925
842,643 763,228
843,749 764,323
845,274 765,833
846,380 766,928
485,870
485,870
485,870
485,870
493,670
493,670
493,670
273,450 13,889 259,561 90,846 168,715
274,545 14,167 260,378 91,132 169,246
276,055 15,069 260,986 91,345 169,641
277,358 15,347 262,011 91,704 170,307
270,653 16,389 254,264 88,992 165,271
272,163 16,667 255,496 89,424 166,073
273,258 17,708 255,550 89,442 166,107
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
343,368 13,158 356,526 71,305
356,526 13,158 369,684 73,937
369,684 13,158 382,842 76,568
382,842 13,158 396,000 79,200
396,000 13,158 409,158 81,832
409,158 13,158 422,316 84,463
422,316 13,158 435,474 87,095
13,157 132 53 53 7,131 53 -
13,157 131 52 52 7,394 52 -
13,157 132 53 53 7,657 53 -
13,157 132 53 53 7,920 53 -
13,157 131 52 52 8,183 52 -
13,157 132 53 53 8,446 53 -
13,157 131 52 52 8,709 52 -
788,762 5,273 4,237 1,325 35,653 3,445 838,696 64
788,762 5,233 4,157 1,300 36,968 3,380 839,801 64
788,762 5,273 4,237 1,325 38,284 3,445 841,327 64
788,762 5,273 4,237 1,325 39,600 3,445 842,643 64
788,762 5,233 4,157 1,300 40,916 3,380 843,749 64
788,762 5,273 4,237 1,325 42,232 3,445 845,274 64
788,762 5,233 4,157 1,300 43,547 3,380 846,380 64
709,886 5,221 4,195 1,312 35,296 3,411 759,320 57.71
709,886 5,181 4,116 1,287 36,599 3,346 760,415 57.79
709,886 5,221 4,195 1,312 37,901 3,411 761,925 57.91
709,886 5,221 4,195 1,312 39,204 3,411 763,228 58.01
709,886 5,181 4,116 1,287 40,507 3,346 764,323 58.09
709,886 5,221 4,195 1,312 41,809 3,411 765,833 58.20
709,886 5,181 4,116 1,287 43,112 3,346 766,928 58.29
8 8 1
8 8 1
8 8 1
8 8 1
9 9 1
9 9 1
9 9 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
485,870 36.93 273,450 13,889 259,561
485,870 36.93 274,545 14,167 260,378
485,870 36.93 276,055 15,069 260,986
485,870 36.93 277,358 15,347 262,011
493,670 37.52 270,653 16,389 254,264
493,670 37.52 272,163 16,667 255,496
493,670 37.52 273,258 17,708 255,550
5 Month 58
5 Month 59
5 Month 60
847,906 768,438
849,182 769,701
850,368 770,875
493,670
506,833
506,833
274,768 17,986 256,782 89,874 166,908
262,869 19,236 243,633 85,272 158,361
264,043 19,514 244,529 85,585 158,944
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
435,474 13,158 448,632 89,726
448,632 13,158 461,789 92,358
461,789 13,158 474,947 94,989
13,157 132 53 53 8,973 53 -
13,157 131 53 53 9,236 53 -
13,157 132 52 52 9,499 52 -
788,762 5,273 4,237 1,325 44,863 3,445 847,906 64
788,762 5,233 4,237 1,325 46,179 3,445 849,182 65
788,762 5,273 4,157 1,300 47,495 3,380 850,368 65
709,886 5,221 4,195 1,312 44,415 3,411 768,438 58.40
709,886 5,181 4,195 1,312 45,717 3,411 769,701 58.50
709,886 5,221 4,116 1,287 47,020 3,346 770,875 58.59
9 9 1
10 10 2
10 10 2
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 29,167 37,500 9,167 30,529 210,113
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 29,167 37,500 9,167 30,529 210,113
5,000 250,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
493,670 37.52 274,768 17,986 256,782
506,833 38.52 262,869 19,236 243,633
506,833 38.52 264,043 19,514 244,529
THIS COMPANY AND TH
Ballerina Tech Balance Sheet Detail Row 55 YTD Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Property, Plant & Equipment Property Plant & Equipment Accumulated Depreciation Net PP&E Other Assets Total Assets Liabilities & Shareholders Equity Current Liabilities Line of Credit CPLTD Accounts Payable Accrued Expenses Income Taxes Payable Total Current Liabilities Long Term Liabilities Long Term Debt Due to Shareholders Total Long Term Liabilities Total Liabilities Stockholders' Equity / (Deficit): Common Stock Preferred Series A Retained Earnings/(Deficit) Net Income / (Loss) Total Stockholders' Equity / (Deficit)
Month 1
Month 2
2,646,308 12,699 2,659,008
2,555,098 25,399 2,580,497
55,000 1,528 53,472
55,000 3,056 51,944
250,000
250,000
2,962,480
2,882,441
2,525 61,391 63,917
5,051 65,391 70,442
63,917
70,442
3,000,000 3,000,000 (101,437) (101,437) (86,564) 2,898,563 2,811,999
Total Liabilities and Stockholders' Equity / (Deficit)
2,962,480
2,882,441
Check Total Working Capital
2,595,091
2,510,055
Current Ratio AR AP AE
41.60
36.63
12,699 2,525 61,391
25,399 5,051 65,391
55,000 55,000
55,000 55,000
36
1,528 1,528 53,472
1,528 3,056 51,944
2500
5,000
15 30 15
CAPEX Opening Additions Writedoffs Closing Depreciation Accumulated Depreciation Net Book Balance Capex Additions
-
OMPANY AND THE MODEL ARE TOTALLY FICTIOUS
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
2,473,782 38,118 2,511,900
2,412,358 50,817 2,463,175
2,360,807 63,517 2,424,324
2,329,130 76,216 2,405,346
2,299,920 88,916 2,388,835
2,283,196 101,635 2,384,831
2,276,366 114,334 2,390,700
60,000 4,722 55,278
60,000 6,389 53,611
65,000 8,194 56,806
65,000 10,000 55,000
70,000 11,944 58,056
70,000 13,889 56,111
75,000 15,972 59,028
250,000
250,000
250,000
250,000
250,000
250,000
250,000
2,817,177
2,766,786
2,731,130
2,710,346
2,696,891
2,690,942
2,699,728
7,577 69,391 76,968
10,102 73,391 83,494
12,628 77,391 90,019
15,153 81,391 96,545
17,679 92,798 110,476
20,205 96,798 117,002
22,730 100,798 123,528
76,968
83,494
90,019
96,545
110,476
117,002
123,528
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 (188,001) (259,791) (316,707) (358,889) (386,198) (413,585) (426,060) (71,790) (56,917) (42,182) (27,309) (27,387) (12,474) 2,260 2,740,209 2,683,293 2,641,111 2,613,802 2,586,415 2,573,940 2,576,200 2,817,177
2,766,786
2,731,130
2,710,346
2,696,891
2,690,942
2,699,728
2,434,932
2,379,682
2,334,305
2,308,802
2,278,359
2,267,829
2,267,173
32.64
29.50
26.93
24.91
21.62
20.38
19.35
38,118 7,577 69,391
50,817 10,102 73,391
63,517 12,628 77,391
76,216 15,153 81,391
88,916 17,679 92,798
101,635 20,205 96,798
114,334 22,730 100,798
55,000 5,000 60,000
60,000 60,000
60,000 5,000 65,000
65,000 65,000
65,000 5,000 70,000
70,000 70,000
70,000 5,000 75,000
1,667 4,722 55,278
1,667 6,389 53,611
1,806 8,194 56,806
1,806 10,000 55,000
1,944 11,944 58,056
1,944 13,889 56,111
2,083 15,972 59,028
5,000
-
5,000
-
5,000
-
5,000
TIOUS
Month 10 Month 11 Month 12 Month 13 Month 14 Month 15 Month 16
2,289,409 127,034 2,416,442
2,312,325 139,733 2,452,058
2,355,134 152,452 2,507,586
2,409,578 164,893 2,574,471
2,472,818 159,637 2,632,455
2,525,927 159,657 2,685,584
2,575,136 159,637 2,734,772
75,000 18,056 56,944
80,000 20,278 59,722
80,000 22,500 57,500
85,000 24,861 60,139
85,000 27,222 57,778
90,000 29,722 60,278
95,000 32,361 62,639
250,000
250,000
250,000
250,000
250,000
250,000
250,000
2,723,387
2,761,780
2,815,086
2,884,610
2,940,233
2,995,861
3,047,411
25,256 104,798 130,053
27,781 108,798 136,579
30,307 112,798 143,105
31,694 114,798 146,492
31,589 114,798 146,387
31,590 114,798 146,387
31,589 118,698 150,287
130,053
136,579
143,105
146,492
146,387
146,387
150,287
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 (423,800) (406,666) (374,799) (328,018) (261,882) (206,154) (150,526) 17,133 31,868 46,781 66,136 55,728 55,629 47,650 2,593,334 2,625,201 2,671,982 2,738,118 2,793,846 2,849,474 2,897,124 2,723,387
2,761,780
2,815,086
2,884,610
2,940,233
2,995,861
3,047,411
2,286,389
2,315,479
2,364,482
2,427,979
2,486,068
2,539,197
2,584,485
18.58
17.95
17.52
17.57
17.98
18.35
18.20
127,034 25,256 104,798
139,733 27,781 108,798
152,452 30,307 112,798
164,893 31,694 114,798
159,637 31,589 114,798
159,657 31,590 114,798
159,637 31,589 118,698
75,000 75,000
75,000 5,000 80,000
80,000 80,000
80,000 5,000 85,000
85,000 85,000
85,000 5,000 90,000
90,000 5,000 95,000
2,083 18,056 56,944
2,222 20,278 59,722
2,222 22,500 57,500
2,361 24,861 60,139
2,361 27,222 57,778
2,500 29,722 60,278
2,639 32,361 62,639
5,000
5,000
-
5,000
-
5,000
-
Month 17 Month 18 Month 19
Month 20
Month 21
Month 22
Month 23
2,620,445 159,657 2,780,101
2,665,773 159,657 2,825,430
2,694,550 159,637 2,854,186
2,723,362 159,657 2,883,018
2,752,242 159,657 2,911,899
2,781,165 159,637 2,940,801
2,810,123 159,657 2,969,779
100,000 35,139 64,861
105,000 38,056 66,944
110,000 41,111 68,889
115,000 44,306 70,694
120,000 47,639 72,361
125,000 51,111 73,889
130,000 54,722 75,278
250,000
250,000
250,000
250,000
250,000
250,000
250,000
3,094,962
3,142,374
3,173,075
3,203,713
3,234,260
3,264,690
3,295,057
31,590 118,698 150,287
31,590 118,698 150,287
31,589 118,698 150,287
31,590 118,698 150,287
31,590 118,698 150,287
31,589 118,698 150,287
31,590 118,698 150,287
150,287
150,287
150,287
150,287
150,287
150,287
150,287
3,000,000 3,000,000 3,000,000 (102,876) (55,325) (7,913) 47,551 47,412 30,702 2,944,675 2,992,087 3,022,789
3,000,000 22,789 30,637 3,053,426
3,000,000 53,426 30,547 3,083,973
3,000,000 83,973 30,431 3,114,404
3,000,000 114,404 30,366 3,144,770
3,094,962
3,142,374
3,173,075
3,203,713
3,234,260
3,264,690
3,295,057
2,629,814
2,675,142
2,703,900
2,732,731
2,761,612
2,790,515
2,819,492
18.50
18.80
18.99
19.18
19.38
19.57
19.76
159,657 31,590 118,698
159,657 31,590 118,698
159,637 31,589 118,698
159,657 31,590 118,698
159,657 31,590 118,698
159,637 31,589 118,698
159,657 31,590 118,698
95,000 5,000 100,000
100,000 5,000 105,000
105,000 5,000 110,000
110,000 5,000 115,000
115,000 5,000 120,000
120,000 5,000 125,000
125,000 5,000 130,000
2,778 35,139 64,861
2,917 38,056 66,944
3,056 41,111 68,889
3,194 44,306 70,694
3,333 47,639 72,361
3,472 51,111 73,889
3,611 54,722 75,278
5,000
5,000
5,000
5,000
5,000
5,000
5,000
Month 24
Month 25
Month 26
Month 27
Month 28
Month 29
Month 30
2,839,161 159,697 2,998,857
2,887,296 249,802 3,137,099
2,984,358 245,469 3,229,828
3,072,376 245,812 3,318,188
3,165,916 246,259 3,412,175
3,255,096 246,601 3,501,697
3,349,797 247,048 3,596,845
135,000 58,472 76,528
145,000 62,500 82,500
150,000 66,667 83,333
160,000 71,111 88,889
165,000 75,694 89,306
175,000 80,556 94,444
180,000 85,556 94,444
250,000
250,000
250,000
250,000
250,000
250,000
250,000
3,325,385
3,469,599
3,563,161
3,657,077
3,751,480
3,846,141
3,941,290
31,590 118,698 150,288
47,588 147,598 195,186
47,501 147,598 195,099
47,508 147,598 195,106
47,517 147,598 195,115
47,524 147,598 195,122
47,533 147,598 195,131
150,288
195,186
195,099
195,106
195,115
195,122
195,131
3,000,000 144,770 30,327 3,175,097
3,000,000 175,097 99,316 3,274,413
3,000,000 274,413 93,649 3,368,062
3,000,000 368,062 93,909 3,461,971
3,000,000 461,971 94,394 3,556,366
3,000,000 556,366 94,654 3,651,020
3,000,000 651,020 95,140 3,746,159
3,325,385
3,469,599
3,563,161
3,657,077
3,751,480
3,846,141
3,941,290
2,848,570
2,941,913
3,034,729
3,123,082
3,217,060
3,306,575
3,401,715
19.95
16.07
16.55
17.01
17.49
17.95
18.43
159,697 31,590 118,698
249,802 47,588 147,598
245,469 47,501 147,598
245,812 47,508 147,598
246,259 47,517 147,598
246,601 47,524 147,598
247,048 47,533 147,598
130,000 5,000 135,000
135,000 10,000 145,000
145,000 5,000 150,000
150,000 10,000 160,000
160,000 5,000 165,000
165,000 10,000 175,000
175,000 5,000 180,000
3,750 58,472 76,528
4,028 62,500 82,500
4,167 66,667 83,333
4,444 71,111 88,889
4,583 75,694 89,306
4,861 80,556 94,444
5,000 85,556 94,444
5,000
10,000
5,000
10,000
5,000
10,000
5,000
Month 31
Month 32
Month 33
Month 34
Month 35
Month 36
Month 37
3,434,034 247,443 3,681,477
3,524,911 247,785 3,772,696
3,606,406 248,233 3,854,639
3,698,494 248,575 3,947,069
3,781,200 249,022 4,030,222
3,874,498 249,364 4,123,863
3,972,166 356,096 4,328,263
195,000 90,972 104,028
200,000 96,528 103,472
215,000 102,500 112,500
220,000 108,611 111,389
235,000 115,139 119,861
240,000 121,806 118,194
262,500 129,097 133,403
250,000
250,000
250,000
250,000
250,000
250,000
250,000
4,035,505
4,126,168
4,217,139
4,308,458
4,400,083
4,492,057
4,711,665
47,541 151,498 199,038
47,548 151,498 199,045
47,557 151,498 199,054
47,564 151,498 199,061
47,573 151,498 199,070
47,579 151,498 199,077
63,915 206,235 270,150
199,038
199,045
199,054
199,061
199,070
199,077
270,150
3,000,000 746,159 90,307 3,836,466
3,000,000 836,466 90,657 3,927,123
3,000,000 927,123 90,962 4,018,085
3,000,000 1,018,085 91,312 4,109,397
3,000,000 1,109,397 91,617 4,201,013
3,000,000 1,201,013 91,967 4,292,980
3,000,000 1,292,980 148,535 4,441,516
4,035,505
4,126,168
4,217,139
4,308,458
4,400,083
4,492,057
4,711,665
3,482,438
3,573,651
3,655,585
3,748,008
3,831,152
3,924,786
4,058,113
18.50
18.95
19.36
19.83
20.25
20.71
16.02
247,443 47,541 151,498
247,785 47,548 151,498
248,233 47,557 151,498
248,575 47,564 151,498
249,022 47,573 151,498
249,364 47,579 151,498
356,096 63,915 206,235
180,000 15,000 195,000
195,000 5,000 200,000
200,000 15,000 215,000
215,000 5,000 220,000
220,000 15,000 235,000
235,000 5,000 240,000
240,000 22,500 262,500
5,417 90,972 104,028
5,556 96,528 103,472
5,972 102,500 112,500
6,111 108,611 111,389
6,528 115,139 119,861
6,667 121,806 118,194
7,292 129,097 133,403
15,000
5,000
15,000
5,000
15,000
5,000
22,500
Month 38
Month 39
Month 40
Month 41
Month 42
Month 43
Month 44
4,115,575 331,773 4,447,347
4,218,032 332,319 4,550,351
4,338,729 332,825 4,671,555
4,442,803 333,352 4,776,154
4,558,981 333,878 4,892,859
4,659,661 334,424 4,994,086
4,773,630 334,931 5,108,560
267,500 136,528 130,972
290,000 144,583 145,417
295,000 152,778 142,222
317,500 161,597 155,903
327,500 170,694 156,806
350,000 180,417 169,583
360,000 190,417 169,583
250,000
250,000
250,000
250,000
250,000
250,000
250,000
4,828,320
4,945,768
5,063,777
5,182,057
5,299,664
5,413,669
5,528,144
63,428 206,235 269,663
63,439 206,235 269,674
63,450 206,235 269,685
63,460 206,235 269,695
63,471 210,135 273,606
63,482 210,135 273,617
63,492 210,135 273,627
269,663
269,674
269,685
269,695
273,606
273,617
273,627
3,000,000 1,441,516 117,141 4,558,656
3,000,000 1,558,656 117,437 4,676,093
3,000,000 1,676,093 117,999 4,794,092
3,000,000 1,794,092 118,270 4,912,362
3,000,000 1,912,362 113,697 5,026,059
3,000,000 2,026,059 113,994 5,140,052
3,000,000 2,140,052 114,465 5,254,517
4,828,320
4,945,768
5,063,777
5,182,057
5,299,664
5,413,669
5,528,144
4,177,684
4,280,677
4,401,870
4,506,459
4,619,253
4,720,469
4,834,934
16.49
16.87
17.32
17.71
17.88
18.25
18.67
331,773 63,428 206,235
332,319 63,439 206,235
332,825 63,450 206,235
333,352 63,460 206,235
333,878 63,471 210,135
334,424 63,482 210,135
334,931 63,492 210,135
262,500 5,000 267,500
267,500 22,500 290,000
290,000 5,000 295,000
295,000 22,500 317,500
317,500 10,000 327,500
327,500 22,500 350,000
350,000 10,000 360,000
7,431 136,528 130,972
8,056 144,583 145,417
8,194 152,778 142,222
8,819 161,597 155,903
9,097 170,694 156,806
9,722 180,417 169,583
10,000 190,417 169,583
5,000
22,500
5,000
22,500
10,000
22,500
10,000
Month 45
Month 46
Month 47
Month 48
Month 49
Month 50
4,875,975 335,457 5,211,432
4,991,627 336,088 5,327,715
5,089,624 336,509 5,426,133
5,201,893 337,036 5,538,928
5,319,753 417,947 5,737,700
5,495,530 418,670 5,914,199
382,500 201,042 181,458
392,500 211,944 180,556
420,000 223,611 196,389
430,000 235,556 194,444
457,500 248,264 209,236
467,500 261,250 206,250
250,000
250,000
250,000
250,000
250,000
250,000
5,642,890
5,758,270
5,872,522
5,983,373
6,196,936
6,370,449
63,502 210,135 273,637
63,515 210,135 273,650
63,523 214,035 277,558
63,534 214,035 277,569
79,348 239,035 318,383
79,362 239,035 318,397
273,637
273,650
277,558
277,569
318,383
318,397
3,000,000 2,254,517 114,736 5,369,253
3,000,000 2,369,253 115,368 5,484,620
3,000,000 2,484,620 110,343 5,594,964
3,000,000 2,594,964 110,840 5,705,804
3,000,000 2,705,804 172,749 5,878,553
3,000,000 2,878,553 173,499 6,052,052
5,642,890
5,758,270
5,872,522
5,983,373
6,196,936
6,370,449
4,937,794
5,054,065
5,148,575
5,261,360
5,419,317
5,595,802
19.05
19.47
19.55
19.96
18.02
18.57
335,457 63,502 210,135
336,088 63,515 210,135
336,509 63,523 214,035
337,036 63,534 214,035
417,947 79,348 239,035
418,670 79,362 239,035
360,000 22,500 382,500
382,500 10,000 392,500
392,500 27,500 420,000
420,000 10,000 430,000
430,000 27,500 457,500
457,500 10,000 467,500
10,625 201,042 181,458
10,903 211,944 180,556
11,667 223,611 196,389
11,944 235,556 194,444
12,708 248,264 209,236
12,986 261,250 206,250
22,500
10,000
27,500
10,000
27,500
10,000
Month 51
Month 52
Month 53
Month 54
Month 55
Month 56
5,648,869 419,348 6,068,217
5,821,739 419,901 6,241,640
5,973,202 420,664 6,393,866
6,148,211 421,321 6,569,533
6,295,730 421,874 6,717,604
6,467,722 422,637 6,890,359
500,000 275,139 224,861
510,000 289,306 220,694
542,500 304,375 238,125
552,500 319,722 232,778
590,000 336,111 253,889
600,000 352,778 247,222
250,000
250,000
250,000
250,000
250,000
250,000
6,543,078
6,712,335
6,881,991
7,052,311
7,221,493
7,387,581
79,376 242,935 322,311
79,387 242,935 322,322
79,402 242,935 322,337
79,415 242,935 322,350
79,426 246,835 326,261
79,441 246,835 326,276
322,311
322,322
322,337
322,350
326,261
326,276
3,000,000 3,052,052 168,715 6,220,767
3,000,000 3,220,767 169,246 6,390,013
3,000,000 3,390,013 169,641 6,559,654
3,000,000 3,559,654 170,307 6,729,961
3,000,000 3,729,961 165,271 6,895,232
3,000,000 3,895,232 166,073 7,061,305
6,543,078
6,712,335
6,881,991
7,052,311
7,221,493
7,387,581
5,745,906
5,919,319
6,071,529
6,247,183
6,391,343
6,564,083
18.83
19.36
19.84
20.38
20.59
21.12
419,348 79,376 242,935
419,901 79,387 242,935
420,664 79,402 242,935
421,321 79,415 242,935
421,874 79,426 246,835
422,637 79,441 246,835
467,500 32,500 500,000
500,000 10,000 510,000
510,000 32,500 542,500
542,500 10,000 552,500
552,500 37,500 590,000
590,000 10,000 600,000
13,889 275,139 224,861
14,167 289,306 220,694
15,069 304,375 238,125
15,347 319,722 232,778
16,389 336,111 253,889
16,667 352,778 247,222
32,500
10,000
32,500
10,000
37,500
10,000
Month 57
Month 58
Month 59
Month 60
6,613,495 423,190 7,036,686
6,787,642 423,953 7,211,595
6,926,196 424,591 7,350,787
7,094,073 425,184 7,519,257
637,500 370,486 267,014
647,500 388,472 259,028
692,500 407,708 284,792
702,500 427,222 275,278
250,000
250,000
250,000
250,000
7,553,700
7,720,623
7,885,579
8,044,534
79,452 246,835 326,287
79,468 246,835 326,303
79,480 253,416 332,897
79,492 253,416 332,909
326,287
326,303
332,897
332,909
3,000,000 4,061,305 166,107 7,227,412
3,000,000 4,227,412 166,908 7,394,321
3,000,000 4,394,321 158,361 7,552,682
3,000,000 4,552,682 158,944 7,711,626
7,553,700
7,720,623
7,885,579
8,044,534
6,710,398
6,885,293
7,017,890
7,186,348
21.57
22.10
22.08
22.59
423,190 79,452 246,835
423,953 79,468 246,835
424,591 79,480 253,416
425,184 79,492 253,416
600,000 37,500 637,500
637,500 10,000 647,500
647,500 45,000 692,500
692,500 10,000 702,500
17,708 370,486 267,014
17,986 388,472 259,028
19,236 407,708 284,792
19,514 427,222 275,278
37,500
10,000
45,000
10,000
Ballerina Tech Cash Flow
THIS COMPANY AND THE M
YTD
Month 1
Month 2
Cash Flow Cash provided by (used in) Operating activities Net income (loss) for the period Non-cash transactions Depreciation Amortization Non-cash interest accrued Sub-total Changes in assets and liabilities Accounts receivable Inventories Prepaid expenses Other Assets Accounts payable Accrued expenses Income taxes payable Sub-total Total Operating Activities Investing Activities Purchase of PPE Total Financing activities Line of credit Long Term Debt Proceeds from stock Due to shareholders Total
3,000,000 3,000,000
Increase (decrease) in cash during period Cash beginning of period Cash end of period
2,646,308 2,646,308
(101,437)
(86,564)
1,528 (99,909)
1,528 (85,036)
(12,699) (250,000) 2,525 61,391 (198,783) (298,692)
(12,699) 2,525 4,000 (6,174) (91,210)
(55,000) (55,000)
(91,210) 2,646,308 2,555,098
Y AND THE MODEL ARE TOTALLY FICTIOUS
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
(71,790)
(56,917)
(42,182)
(27,309)
(27,387)
(12,474)
2,260
1,667 (70,123)
1,667 (55,250)
1,806 (40,377)
1,806 (25,503)
1,944 (25,443)
1,944 (10,530)
2,083 4,343
(12,719) 2,526 4,000 (6,193) (76,317)
(12,699) 2,525 4,000 (6,174) (61,424)
(12,699) 2,525 4,000 (6,174) (46,551)
(12,699) 2,525 4,000 (6,174) (31,677)
(12,699) 2,525 11,406 1,232 (24,210)
(12,719) 2,526 4,000 (6,193) (16,723)
(5,000) (5,000.00) (81,317) 2,555,098 2,473,782
(61,424) 2,473,782 2,412,358
(5,000) (5,000) (51,551) 2,412,358 2,360,807
(31,677) 2,360,807 2,329,130
(5,000) (5,000) (29,210) 2,329,130 2,299,920
(16,723) 2,299,920 2,283,196
(12,699) 2,525 4,000 (6,174) (1,830) (5,000) (5,000) (6,830) 2,283,196 2,276,366
Month 10
Month 11
Month 12
Month 13
Month 14
Month 15
Month 16
17,133
31,868
46,781
66,136
55,728
55,629
47,650
2,083 19,217
2,222 34,090
2,222 49,003
2,361 68,497
2,361 58,089
2,500 58,129
2,639 50,289
(12,699) 2,525 4,000 (6,174) 13,043
(12,699) 2,525 4,000 (6,174) 27,916
(12,719) 2,526 4,000 (6,193) 42,809
(12,441) 1,387 2,000 (9,054) 59,444
5,257 (105) 5,152 63,241
(20) 0 (20) 58,109
20 (0) 3,900 3,920 54,209
(5,000) (5,000)
(5,000) (5,000)
13,043 2,276,366 2,289,409
(5,000) (5,000) 22,916 2,289,409 2,312,325
42,809 2,312,325 2,355,134
(5,000) (5,000) 54,444 2,355,134 2,409,578
63,241 2,409,578 2,472,818
53,109 2,472,818 2,525,927
49,209 2,525,927 2,575,136
Month 17
Month 18
Month 19
Month 20
Month 21
Month 22
Month 23
47,551
47,412
30,702
30,637
30,547
30,431
30,366
2,778 50,329
2,917 50,329
3,056 33,757
3,194 33,832
3,333 33,880
3,472 33,903
3,611 33,977
(20) 0 (20) 50,309
50,329
20 (0) 20 33,777
(20) 0 (20) 33,812
33,880
20 (0) 20 33,923
(20) 0 (20) 33,958
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
45,309 2,575,136 2,620,445
45,329 2,620,445 2,665,773
28,777 2,665,773 2,694,550
28,812 2,694,550 2,723,362
28,880 2,723,362 2,752,242
28,923 2,752,242 2,781,165
28,958 2,781,165 2,810,123
Month 24
Month 25
Month 26
Month 27
Month 28
Month 29
Month 30
30,327
99,316
93,649
93,909
94,394
94,654
95,140
3,750 34,077
4,028 103,344
4,167 97,816
4,444 98,353
4,583 98,978
4,861 99,515
5,000 100,140
(40) 1 (39) 34,038
(90,106) 15,998 28,900 (45,208) 58,136
4,333 (87) 4,246 102,062
(342) 7 (335) 98,018
(447) 9 (438) 98,539
(342) 7 (335) 99,180
(447) 9 (438) 99,701
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
29,038 2,810,123 2,839,161
48,136 2,839,161 2,887,296
97,062 2,887,296 2,984,358
88,018 2,984,358 3,072,376
93,539 3,072,376 3,165,916
89,180 3,165,916 3,255,096
94,701 3,255,096 3,349,797
Month 31
Month 32
Month 33
Month 34
Month 35
Month 36
Month 37
90,307
90,657
90,962
91,312
91,617
91,967
148,535
5,417 95,723
5,556 96,213
5,972 96,934
6,111 97,423
6,528 98,144
6,667 98,634
7,292 155,827
(395) 8 3,900 3,513 99,237
(342) 7 (335) 95,877
(447) 9 (438) 96,496
(342) 7 (335) 97,088
(447) 9 (438) 97,706
(342) 7 (335) 98,298
(106,732) 16,336 54,738 (35,659) 120,168
(15,000) (15,000)
(5,000) (5,000)
(15,000) (15,000)
(5,000) (5,000)
(15,000) (15,000)
(5,000) (5,000)
(22,500) (22,500)
84,237 3,349,797 3,434,034
90,877 3,434,034 3,524,911
81,496 3,524,911 3,606,406
92,088 3,606,406 3,698,494
82,706 3,698,494 3,781,200
93,298 3,781,200 3,874,498
97,668 3,874,498 3,972,166
Month 38
Month 39
Month 40
Month 41
Month 42
Month 43
Month 44
117,141
117,437
117,999
118,270
113,697
113,994
114,465
7,431 124,571
8,056 125,493
8,194 126,193
8,819 127,089
9,097 122,794
9,722 123,716
10,000 124,465
24,324 (486) 23,837 148,408
(546) 11 (535) 124,958
(506) 10 (496) 125,697
(526) 11 (516) 126,574
(526) 11 3,900 3,384 126,178
(546) 11 (535) 123,180
(506) 10 (496) 123,968
(5,000) (5,000)
(22,500) (22,500)
(5,000) (5,000)
(22,500) (22,500)
(10,000) (10,000)
(22,500) (22,500)
(10,000) (10,000)
143,408 3,972,166 4,115,575
102,458 4,115,575 4,218,032
120,697 4,218,032 4,338,729
104,074 4,338,729 4,442,803
116,178 4,442,803 4,558,981
100,680 4,558,981 4,659,661
113,968 4,659,661 4,773,630
Month 45
Month 46
Month 47
Month 48
Month 49
Month 50
Month 51
114,736
115,368
110,343
110,840
172,749
173,499
168,715
10,625 125,361
10,903 126,270
11,667 122,010
11,944 122,785
12,708 185,458
12,986 186,485
13,889 182,604
(526) 11 (516) 124,845
(631) 13 (619) 125,652
(421) 8 3,900 3,487 125,497
(526) 11 (516) 122,269
(80,911) 15,814 25,000 (40,097) 145,360
(723) 14 (708) 185,777
(678) 14 3,900 3,236 185,839
(22,500) (22,500)
(10,000) (10,000)
(27,500) (27,500)
(10,000) (10,000)
(27,500) (27,500)
(10,000) (10,000)
(32,500) (32,500)
102,345 4,773,630 4,875,975
115,652 4,875,975 4,991,627
97,997 4,991,627 5,089,624
112,269 5,089,624 5,201,893
117,860 5,201,893 5,319,753
175,777 5,319,753 5,495,530
153,339 5,495,530 5,648,869
Month 52
Month 53
Month 54
Month 55
Month 56
Month 57
Month 58
169,246
169,641
170,307
165,271
166,073
166,107
166,908
14,167 183,412
15,069 184,710
15,347 185,654
16,389 181,660
16,667 182,739
17,708 183,816
17,986 184,895
(553) 11 (542) 182,871
(763) 15 (748) 183,963
(658) 13 (645) 185,009
(553) 11 3,900 3,358 185,018
(763) 15 (748) 181,992
(553) 11 (542) 183,274
(763) 15 (748) 184,147
(10,000) (10,000)
(32,500) (32,500)
(10,000) (10,000)
(37,500) (37,500)
(10,000) (10,000)
(37,500) (37,500)
(10,000) (10,000)
172,871 5,648,869 5,821,739
151,463 5,821,739 5,973,202
175,009 5,973,202 6,148,211
147,518 6,148,211 6,295,730
171,992 6,295,730 6,467,722
145,774 6,467,722 6,613,495
174,147 6,613,495 6,787,642
Month 59
Month 60
158,361
158,944
19,236 177,597
19,514 178,458
(638) 13 6,581 5,956 183,554
(593) 12 (581) 177,877
(45,000) (45,000)
(10,000) (10,000)
138,554 6,787,642 6,926,196
167,877 6,926,196 7,094,073
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#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
425,184 250,000 (79,492) (253,416) 342,275 #REF!
#REF!
#REF!
#REF!
#REF!
(3,000,000) (3,000,000) #REF! 7,094,073 #REF!
-
-
-
-
-
-
-
-
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF! #REF! #REF! #REF!
Ballerina Tech Assumptions & Summary
Assumptions Funding closing Sales/CAC Customer Acquisition Cost Monthly Budget Year 1 Yr 2 Monthly Budget Yr 3 Monthly Budget % Dormant Inactive
COLORED CELLS ARE HIGHLIGHTED TO AID DISCUSSION
12/31/2009 $19.00 $8,000 Increase per month $100,000 per month Yr 4 Monthly Budget $150,000 per month Yr 5 Monthly Budget 80.0%
Products Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9
Per SubscriberPenetration % 59.95 100% 0% 39.95 5% 79.95 2% 25.00 2% 5.00 2% 65.00 2%
Staff Additions Customer Service Technical Support Supervisors
Active customers 10,000 10,000 10
VC Return Exit EBITDA EBITDA multiple exit VC ownership VC return VC Investment VC multiple
3,277,546 8 0.50 13,110,185 3,000,000 4.4
Year Start 1 7 1 2 3 3 4
Y AND THE MODEL ARE TOTALLY FICTIOUS
LIGHTED TO AID DISCUSSION
$200,000 $250,000 Gross Margin 90% 0% 99% 99% 99% 99% 99%
Revenue $ Gross Margin $ OPEX $ EBITDA $ Revenue Growth GM % EBITDA %
Year 1 1,981,742 1,784,747 2,090,265 (305,518) na 90% -15%
Cash Accounts Receivable PP&E Current Liabilities Funded Debt Due to Shareholders Equity SW units sold annually
2,355,134 152,452 57,500 143,105 2,671,982 32,842
FINANCIAL SUMMARY Year 2 3,842,151 3,462,972 2,825,340 637,632 94% 90% 17% 2,839,161 159,697 76,528 150,288 3,175,097 63,158
Sources and Uses Sources Equity Total
$ Uses 3,000,000 Marketing and Admin Closing Costs 3,000,000 Total
ANCIAL SUMMARY Year 3 5,942,826 5,372,293 3,589,140 1,783,153 55% 90% 30% 3,874,498 249,364 118,194 199,077 4,292,980 94,737
$ 2,750,000 250,000 3,000,000
Year 4 8,069,375 7,307,165 5,019,840 2,287,325 36% 91% 28%
Year 5 10,118,560 9,165,511 5,887,965 3,277,546 25% 91% 32%
5,201,893 337,036 194,444 277,569 5,705,804 126,316
7,094,073 425,184 275,278 332,909 7,711,626 157,895
Ballerina Tech
ANNU
Income Statement Detail Row 24
Revenue $ Gross Margin $ OPEX $ EBITDA $ Revenue Growth GM % EBITDA % SW units sold YEAR YTD
1 Month 1
Year 1 1,981,742 1,784,747 2,090,265 (305,518) na 90% -15% 32,842 1 Month 2
Revenue Gross Margin
105,940 53,072
25,399 22,873
50,798 45,747
Operating Expenses
512,863
122,783
130,783
(459,791) 1,658 (461,449)
(99,909) 1,528 (101,437) (101,437)
(85,036) 1,528 (86,564) (86,564)
Operating Income/EBITDA Depreciation Interest Expense Income Before Tax Taxes Net Income Customer Acquisition Cost Monthly Budget New Customers
(461,449) $19.00
19.00 8,000 421
19.00 16,000 842 421 842 1,263 253
842 8 -
Customers Opening Additions Ending Customers Active Customers
20.00%
421 421 84
Units Sold Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9
100.0% 0.0% 5.0% 2.0% 2.0% 2.0% 2.0% 0.0% 0.0%
421 4 -
Revenue
Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9 Total Revenue Revenue/customer Gross Margin Product 1 Product 2 Product 3 Product 4 Product 5 Product 6 Product 7 Product 8 Product 9 Total Gross Margin Gross Margin/Customer Staffing Additions CSR Tech Support Supervisors Expenses Salaries CEO CFO COO Marketing Manager Marketing Associate 1 Marketing Associate 2 Chief Engineer Engineer Software 1 Engineer Software 2 Admin/Office Manager Controller Accountant Analyst CSR Tech Support Supervisors Employee Benefits & Taxes Total Salaries G&A Accounting/Audit Customer Acquisition
59.95 39.95 79.95 25.00 5.00 65.00 -
25,239 160 25,399 60
50,478 320 50,798 60
0.90 0.00 0.99 0.99 0.99 0.99 0.99 0.00 0.00
22,715 158 22,873 54.32
45,430 316 45,747 54.32
10000 10000 10
1 1
1 1
### ### ### ### $40,000 $35,000 ### $80,000 $80,000 $65,000 $85,000 $35,000 $60,000 $35,000 $45,000 $55,000 17%
5,000
-
-
14,583 10,000
14,583 10,000
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
5,000 8,000
5,000 16,000
Dues, Subscription Fees Finance Consulting Insurance 1 Insurance 2 Internet Legal Marketing Consulting Other Parking Postage and Delivery Printing Rent Repairs and Maintenance Technical Consulting Telephone Utilities Website Hosting Website Maintenance Total Total Expenses SG&A Per New Customer Operating Income/EBITDA Depreciation Interest Expense Income Before Tax
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 47,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 55,220
122,783 291.61 (99,909) 1,528 (101,437)
130,783 155.30 (85,036) 1,528 (86,564)
ANNUAL SUMMARY Year 2 3,842,151 3,462,972 2,825,340 637,632
Year 3 5,942,826 5,372,293 3,589,140 1,783,153
94% 90% 17% 63,158 1 Month 3
Year 4 8,069,375 7,307,165 5,019,840 2,287,325
55% 90% 30% 94,737 1 Month 4
Year 5 10,118,560 9,165,511 5,887,965 3,277,546
36% 91% 28% 126,316 1 Month 5
THIS COMPANY AN
25% 91% 32% 157,895 1 Month 6
1 Month 7
76,236 68,659
101,635 91,533
127,034 114,406
152,432 137,279
177,831 160,152
138,783
146,783
154,783
162,783
185,595
(70,123) 1,667 (71,790) (71,790)
(55,250) 1,667 (56,917) (56,917)
(40,377) 1,806 (42,182) (42,182)
(25,503) 1,806 (27,309) (27,309)
(25,443) 1,944 (27,387) (27,387)
19.00 24,000 1,263
19.00 32,000 1,684
19.00 40,000 2,105
19.00 48,000 2,526
19.00 56,000 2,947
1,263 1,263 2,526 505
2,526 1,684 4,211 842
4,211 2,105 6,316 1,263
6,316 2,526 8,842 1,768
8,842 2,947 11,789 2,358
1,263 13 -
1,684 17 -
2,105 21 -
2,526 25 -
2,947 29 -
75,717 519 76,236 60 68,145 514 68,659 54.36
100,956 679 101,635 60 90,860 672 91,533 54.35
1 1 -
1 1 -
126,195 839 127,034 60 113,575 831 114,406 54.34 1 1 -
151,434 999 -
176,673 1,159 177,831 60
136,290 989 -
159,005 1,147 160,152 54.34
152,432 60
137,279 54.34 1 1 -
1 1 -
14,583 10,000
14,583 10,000
14,583 10,000
14,583 10,000
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 10,000 6,667 6,667 7,083
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
2,917 3,750 10,979 75,563
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
5,000 24,000
5,000 32,000
5,000 40,000
5,000 48,000
5,000 56,000
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
250 2,500 1,000 1,000 720
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 63,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 71,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 79,220
5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 87,220
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 102,720
138,783 109.87 (70,123) 1,667 (71,790)
146,783 87.15 (55,250) 1,667 (56,917)
154,783 73.52 (40,377) 1,806 (42,182)
162,783 64.43 (25,503) 1,806 (27,309)
185,595 62.97 (25,443) 1,944 (27,387)
HIS COMPANY AND THE MODEL ARE TOTALLY FICTIOUS
1 Month 8
1 Month 9
1 Month 10
1 Month 11
1 Month 12
2 Month 13
203,270 183,065
228,669 205,938
254,067 228,812
279,466 251,685
304,905 274,598
329,787 298,092
193,595
201,595
209,595
217,595
225,595
229,595
4,343 2,083 2,260 2,260
19,217 2,083 17,133 17,133
34,090 2,222 31,868 31,868
49,003 2,222 46,781 46,781
68,497 2,361 66,136 66,136
19.00 64,000 3,368
19.00 72,000 3,789
19.00 80,000 4,211
19.00 88,000 4,632
19.00 96,000 5,053
19.00 100,000 5,263
11,789 3,368 15,158 3,032
15,158 3,789 18,947 3,789
18,947 4,211 23,158 4,632
23,158 4,632 27,789 5,558
27,789 5,053 32,842 6,568
32,842 5,263 38,105 7,621
3,368 34 -
3,789 38 -
4,210 42 -
4,631 46 -
5,052 51 -
5,263 53 152 -
(10,530) 1,944 (12,474) (12,474)
201,912 1,358 203,270 60
227,151 1,518 228,669 60
252,390 1,678 254,067 60
277,628 1,838 279,466 60
302,867 2,037 304,905 60
315,517 2,117 12,152 329,787 63
181,720 1,345 183,065 54.35
204,435 1,503 205,938 54.34
227,151 1,661 228,812 54.34
249,866 1,819 251,685 54.34
272,581 2,017 274,598 54.35
283,965 2,096 12,031 298,092 56.64
1 1
1 1
1 1
1 1
1 1
1 1 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
5,000 64,000
5,000 72,000
5,000 80,000
5,000 88,000
5,000 96,000
5,000 100,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 110,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 118,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 126,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 134,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 142,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
193,595 57.47 (10,530) 1,944 (12,474)
201,595 53.20 4,343 2,083 2,260
209,595 49.78 19,217 2,083 17,133
217,595 46.98 34,090 2,222 31,868
225,595 44.65 49,003 2,222 46,781
229,595 43.62 68,497 2,361 66,136
ICTIOUS
2 Month 14
2 Month 15
2 Month 16
2 Month 17
2 Month 18
2 Month 19
319,273 287,684
319,313 287,724
319,273 287,684
319,313 287,724
319,313 287,724
319,273 287,684
229,595
229,595
237,395
237,395
237,395
237,395
58,089 2,361 55,728 55,728
58,129 2,500 55,629 55,629
50,289 2,639 47,650 47,650
50,329 2,778 47,551 47,551
50,329 2,917 47,412 47,412
50,289 3,056 47,233 16,532 30,702
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
38,105 5,263 43,368 8,674
43,368 5,263 48,632 9,726
48,632 5,263 53,895 10,779
53,895 5,263 59,158 11,832
59,158 5,263 64,421 12,884
64,421 5,263 69,684 13,937
5,263 52 21 -
5,263 53 21 -
5,263 52 21 -
5,263 53 21 -
5,263 53 21 -
5,263 52 21 -
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
1 1
1 1
2 2
2 2
2 2
2 2 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 2,917 3,750 12,042 82,875
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
229,595 43.62 58,089 2,361 55,728
229,595 43.62 58,129 2,500 55,629
237,395 45.11 50,289 2,639 47,650
237,395 45.11 50,329 2,778 47,551
237,395 45.11 50,329 2,917 47,412
237,395 45.11 50,289 3,056 47,233
2 Month 20
2 Month 21
2 Month 22
2 Month 23
2 Month 24
3 Month 25
319,313 287,724
319,313 287,724
319,273 287,684
319,313 287,724
319,393 287,803
499,604 452,016
237,395
237,395
237,395
237,395
237,395
295,195
50,329 3,194 47,134 16,497 30,637
50,329 3,333 46,995 16,448 30,547
50,289 3,472 46,817 16,386 30,431
50,329 3,611 46,717 16,351 30,366
50,408 3,750 46,658 16,330 30,327
156,821 4,028 152,793 53,478 99,316
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 100,000 5,263
19.00 150,000 7,895
69,684 5,263 74,947 14,989
74,947 5,263 80,211 16,042
80,211 5,263 85,474 17,095
85,474 5,263 90,737 18,147
90,737 5,263 96,000 19,200
96,000 7,895 103,895 20,779
5,263 53 21 -
5,263 53 21 -
5,263 52 21 -
5,263 53 21 -
5,263 53 22 -
7,894 78 31 415 2,078 -
315,517 2,117 1,679 319,313 61
315,517 2,117 1,679 319,313 61
315,517 2,077 1,679 319,273 61
315,517 2,117 1,679 319,313 61
315,517 2,117 1,759 319,393 61
473,245 3,116 2,478 10,375 10,389 499,604 63
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,662 287,724 54.67
283,965 2,057 1,662 287,684 54.66
283,965 2,096 1,662 287,724 54.67
283,965 2,096 1,741 287,803 54.68
425,921 3,085 2,454 10,271 10,286 452,016 57.26
2 2
2 2
2 2
2 2
2 2
3 3 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 5,833 7,500 13,175 90,675
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 100,000
5,000 150,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 146,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
237,395 45.11 50,329 3,194 47,134
237,395 45.11 50,329 3,333 46,995
237,395 45.11 50,289 3,472 46,817
237,395 45.11 50,329 3,611 46,717
237,395 45.11 50,408 3,750 46,658
295,195 37.39 156,821 4,028 152,793
3 Month 26
3 Month 27
3 Month 28
3 Month 29
3 Month 30
3 Month 31
490,939 443,437
491,623 444,115
492,518 445,000
493,202 445,678
494,097 446,564
494,886 447,345
295,195
295,195
295,195
295,195
295,195
302,995
148,242 4,167 144,076 50,426 93,649
148,920 4,444 144,475 50,566 93,909
149,805 4,583 145,222 50,828 94,394
150,483 4,861 145,622 50,968 94,654
151,369 5,000 146,369 51,229 95,140
144,350 5,417 138,933 48,627 90,307
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
103,895 7,895 111,789 22,358
111,789 7,895 119,684 23,937
119,684 7,895 127,579 25,516
127,579 7,895 135,474 27,095
135,474 7,895 143,368 28,674
143,368 7,895 151,263 30,253
7,894 79 32 32 2,236 -
7,894 79 31 31 2,394 -
7,894 79 32 32 2,552 -
7,894 79 31 31 2,709 -
7,894 79 32 32 2,867 -
7,894 79 32 32 3,025 -
473,245 3,156 2,558 800 11,179 490,939 62
473,245 3,156 2,478 775 11,968 491,623 62
473,245 3,156 2,558 800 12,758 492,518 62
473,245 3,156 2,478 775 13,547 493,202 62
473,245 3,156 2,558 800 14,337 494,097 63
473,245 3,156 2,558 800 15,126 494,886 63
425,921 3,124 2,533 792 11,067 443,437 56.17
425,921 3,124 2,454 767 11,849 444,115 56.25
425,921 3,124 2,533 792 12,630 445,000 56.37
425,921 3,124 2,454 767 13,412 445,678 56.45
425,921 3,124 2,533 792 14,193 446,564 56.56
425,921 3,124 2,533 792 14,975 447,345 56.66
3 3
3 3
3 3
3 3
3 3
4 4 -
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 8,750 11,250 14,308 98,475
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
295,195 37.39 148,242 4,167 144,076
295,195 37.39 148,920 4,444 144,475
295,195 37.39 149,805 4,583 145,222
295,195 37.39 150,483 4,861 145,622
295,195 37.39 151,369 5,000 146,369
302,995 38.38 144,350 5,417 138,933
3 Month 32
3 Month 33
3 Month 34
3 Month 35
3 Month 36
4 Month 37
495,571 448,023
496,465 448,908
497,150 449,586
498,044 450,471
498,728 451,149
712,193 648,278
302,995
302,995
302,995
302,995
302,995
412,470
145,028 5,556 139,472 48,815 90,657
145,913 5,972 139,941 48,979 90,962
146,591 6,111 140,480 49,168 91,312
147,476 6,528 140,949 49,332 91,617
148,154 6,667 141,487 49,521 91,967
235,808 7,292 228,516 79,981 148,535
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 150,000 7,895
19.00 200,000 10,526
151,263 7,895 159,158 31,832
159,158 7,895 167,053 33,411
167,053 7,895 174,947 34,989
174,947 7,895 182,842 36,568
182,842 7,895 190,737 38,147
190,737 10,526 201,263 40,253
7,894 79 31 31 3,183 -
7,894 79 32 32 3,341 -
7,894 79 31 31 3,499 -
7,894 79 32 32 3,657 -
7,894 79 31 31 3,815 -
10,526 105 43 43 4,025 805 -
473,245 3,156 2,478 775 15,916 495,571 63
473,245 3,156 2,558 800 16,705 496,465 63
473,245 3,156 2,478 775 17,495 497,150 63
473,245 3,156 2,558 800 18,284 498,044 63
473,245 3,156 2,478 775 19,074 498,728 63
631,034 4,195 3,438 1,075 20,126 52,325 712,193 68
425,921 3,124 2,454 767 15,757 448,023 56.75
425,921 3,124 2,533 792 16,538 448,908 56.86
425,921 3,124 2,454 767 17,320 449,586 56.95
425,921 3,124 2,533 792 18,101 450,471 57.06
425,921 3,124 2,454 767 18,883 451,149 57.15
567,930 4,153 3,403 1,064 19,925 51,802 648,278 61.59
4 4
4 4
4 4
4 4
4 4
5 5 1
-
-
-
-
-
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 10,000 3,333 2,917 10,000 6,667 6,667 7,083 2,917 11,667 15,000 15,442 106,275
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 150,000
5,000 200,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 196,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
302,995 38.38 145,028 5,556 139,472
302,995 38.38 145,913 5,972 139,941
302,995 38.38 146,591 6,111 140,480
302,995 38.38 147,476 6,528 140,949
302,995 38.38 148,154 6,667 141,487
412,470 39.18 235,808 7,292 228,516
4 Month 38
4 Month 39
4 Month 40
4 Month 41
4 Month 42
4 Month 43
663,545 600,117
664,638 601,198
665,651 602,201
666,703 603,243
667,756 604,285
668,848 605,367
412,470
412,470
412,470
412,470
420,270
420,270
187,647 7,431 180,216 63,076 117,141
188,728 8,056 180,673 63,236 117,437
189,731 8,194 181,537 63,538 117,999
190,773 8,819 181,954 63,684 118,270
184,015 9,097 174,918 61,221 113,697
185,097 9,722 175,375 61,381 113,994
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
201,263 10,526 211,789 42,358
211,789 10,526 222,316 44,463
222,316 10,526 232,842 46,568
232,842 10,526 243,368 48,674
243,368 10,526 253,895 50,779
253,895 10,526 264,421 52,884
10,526 105 42 42 4,236 42 -
10,526 106 42 42 4,446 42 -
10,526 105 42 42 4,657 42 -
10,526 105 42 42 4,867 42 -
10,526 105 42 42 5,078 42 -
10,526 106 42 42 5,288 42 -
631,034 4,195 3,358 1,050 21,179 2,730 663,545 63
631,034 4,235 3,358 1,050 22,232 2,730 664,638 63
631,034 4,195 3,358 1,050 23,284 2,730 665,651 63
631,034 4,195 3,358 1,050 24,337 2,730 666,703 63
631,034 4,195 3,358 1,050 25,389 2,730 667,756 63
631,034 4,235 3,358 1,050 26,442 2,730 668,848 64
567,930 4,153 3,324 1,040 20,967 2,703 600,117 57.01
567,930 4,192 3,324 1,040 22,009 2,703 601,198 57.11
567,930 4,153 3,324 1,040 23,051 2,703 602,201 57.21
567,930 4,153 3,324 1,040 24,093 2,703 603,243 57.31
567,930 4,153 3,324 1,040 25,136 2,703 604,285 57.41
567,930 4,192 3,324 1,040 26,178 2,703 605,367 57.51
5 5 1
5 5 1
5 5 1
5 5 1
6 6 1
6 6 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 14,583 18,750 4,583 24,083 165,750
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
412,470 39.18 187,647 7,431 180,216
412,470 39.18 188,728 8,056 180,673
412,470 39.18 189,731 8,194 181,537
412,470 39.18 190,773 8,819 181,954
420,270 39.93 184,015 9,097 174,918
420,270 39.93 185,097 9,722 175,375
4 Month 44
4 Month 45
4 Month 46
4 Month 47
4 Month 48
5 Month 49
5 Month 50
669,861 606,369
670,914 607,412
672,176 608,661
673,019 609,496
674,072 610,538
835,894 756,546
837,340 757,978
420,270
420,270
420,270
428,070
428,070
478,070
478,070
186,099 10,000 176,099 61,635 114,465
187,142 10,625 176,517 61,781 114,736
188,391 10,903 177,489 62,121 115,368
181,426 11,667 169,759 59,416 110,343
182,468 11,944 170,523 59,683 110,840
278,476 12,708 265,768 93,019 172,749
279,908 12,986 266,922 93,423 173,499
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 200,000 10,526
19.00 250,000 13,158
19.00 250,000 13,158
264,421 10,526 274,947 54,989
274,947 10,526 285,474 57,095
285,474 10,526 296,000 59,200
296,000 10,526 306,526 61,305
306,526 10,526 317,053 63,411
317,053 13,158 330,211 66,042
330,211 13,158 343,368 68,674
10,526 105 42 42 5,499 42 -
10,526 105 42 42 5,709 42 -
10,526 106 43 43 5,920 43 -
10,526 105 42 42 6,131 42 -
10,526 105 42 42 6,341 42 -
13,157 132 52 52 6,604 52 -
13,157 131 53 53 6,867 53 -
631,034 4,195 3,358 1,050 27,495 2,730 669,861 64
631,034 4,195 3,358 1,050 28,547 2,730 670,914 64
631,034 4,235 3,438 1,075 29,600 2,795 672,176 64
631,034 4,195 3,358 1,050 30,653 2,730 673,019 64
631,034 4,195 3,358 1,050 31,705 2,730 674,072 64
788,762 5,273 4,157 1,300 33,021 3,380 835,894 64
788,762 5,233 4,237 1,325 34,337 3,445 837,340 64
567,930 4,153 3,324 1,040 27,220 2,703 606,369 57.61
567,930 4,153 3,324 1,040 28,262 2,703 607,412 57.70
567,930 4,192 3,403 1,064 29,304 2,767 608,661 57.82
567,930 4,153 3,324 1,040 30,346 2,703 609,496 57.90
567,930 4,153 3,324 1,040 31,388 2,703 610,538 58.00
709,886 5,221 4,116 1,287 32,691 3,346 756,546 57.50
709,886 5,181 4,195 1,312 33,993 3,411 757,978 57.61
6 6 1
6 6 1
6 6 1
7 7 1
7 7 1
7 7 1
7 7 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 17,500 22,500 4,583 25,217 173,550
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 20,417 26,250 4,583 26,350 181,350
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 200,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 246,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
420,270 39.93 186,099 10,000 176,099
420,270 39.93 187,142 10,625 176,517
420,270 39.93 188,391 10,903 177,489
428,070 40.67 181,426 11,667 169,759
428,070 40.67 182,468 11,944 170,523
478,070 36.33 278,476 12,708 265,768
478,070 36.33 279,908 12,986 266,922
5 Month 51
5 Month 52
5 Month 53
5 Month 54
5 Month 55
5 Month 56
5 Month 57
838,696 759,320
839,801 760,415
841,327 761,925
842,643 763,228
843,749 764,323
845,274 765,833
846,380 766,928
485,870
485,870
485,870
485,870
493,670
493,670
493,670
273,450 13,889 259,561 90,846 168,715
274,545 14,167 260,378 91,132 169,246
276,055 15,069 260,986 91,345 169,641
277,358 15,347 262,011 91,704 170,307
270,653 16,389 254,264 88,992 165,271
272,163 16,667 255,496 89,424 166,073
273,258 17,708 255,550 89,442 166,107
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
343,368 13,158 356,526 71,305
356,526 13,158 369,684 73,937
369,684 13,158 382,842 76,568
382,842 13,158 396,000 79,200
396,000 13,158 409,158 81,832
409,158 13,158 422,316 84,463
422,316 13,158 435,474 87,095
13,157 132 53 53 7,131 53 -
13,157 131 52 52 7,394 52 -
13,157 132 53 53 7,657 53 -
13,157 132 53 53 7,920 53 -
13,157 131 52 52 8,183 52 -
13,157 132 53 53 8,446 53 -
13,157 131 52 52 8,709 52 -
788,762 5,273 4,237 1,325 35,653 3,445 838,696 64
788,762 5,233 4,157 1,300 36,968 3,380 839,801 64
788,762 5,273 4,237 1,325 38,284 3,445 841,327 64
788,762 5,273 4,237 1,325 39,600 3,445 842,643 64
788,762 5,233 4,157 1,300 40,916 3,380 843,749 64
788,762 5,273 4,237 1,325 42,232 3,445 845,274 64
788,762 5,233 4,157 1,300 43,547 3,380 846,380 64
709,886 5,221 4,195 1,312 35,296 3,411 759,320 57.71
709,886 5,181 4,116 1,287 36,599 3,346 760,415 57.79
709,886 5,221 4,195 1,312 37,901 3,411 761,925 57.91
709,886 5,221 4,195 1,312 39,204 3,411 763,228 58.01
709,886 5,181 4,116 1,287 40,507 3,346 764,323 58.09
709,886 5,221 4,195 1,312 41,809 3,411 765,833 58.20
709,886 5,181 4,116 1,287 43,112 3,346 766,928 58.29
8 8 1
8 8 1
8 8 1
8 8 1
9 9 1
9 9 1
9 9 1
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 23,333 30,000 4,583 27,483 189,150
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
485,870 36.93 273,450 13,889 259,561
485,870 36.93 274,545 14,167 260,378
485,870 36.93 276,055 15,069 260,986
485,870 36.93 277,358 15,347 262,011
493,670 37.52 270,653 16,389 254,264
493,670 37.52 272,163 16,667 255,496
493,670 37.52 273,258 17,708 255,550
5 Month 58
5 Month 59
5 Month 60
847,906 768,438
849,182 769,701
850,368 770,875
493,670
506,833
506,833
274,768 17,986 256,782 89,874 166,908
262,869 19,236 243,633 85,272 158,361
264,043 19,514 244,529 85,585 158,944
19.00 250,000 13,158
19.00 250,000 13,158
19.00 250,000 13,158
435,474 13,158 448,632 89,726
448,632 13,158 461,789 92,358
461,789 13,158 474,947 94,989
13,157 132 53 53 8,973 53 -
13,157 131 53 53 9,236 53 -
13,157 132 52 52 9,499 52 -
788,762 5,273 4,237 1,325 44,863 3,445 847,906 64
788,762 5,233 4,237 1,325 46,179 3,445 849,182 65
788,762 5,273 4,157 1,300 47,495 3,380 850,368 65
709,886 5,221 4,195 1,312 44,415 3,411 768,438 58.40
709,886 5,181 4,195 1,312 45,717 3,411 769,701 58.50
709,886 5,221 4,116 1,287 47,020 3,346 770,875 58.59
9 9 1
10 10 2
10 10 2
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 26,250 33,750 4,583 28,617 196,950
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 29,167 37,500 9,167 30,529 210,113
14,583 14,583 14,583 10,000 3,333 2,917 10,000 6,667 6,667 5,417 7,083 2,917 5,000 29,167 37,500 9,167 30,529 210,113
5,000 250,000
5,000 250,000
5,000 250,000
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
250 2,500 1,000 1,000 720 7,500 5,000 5,000 500 350 500 5,000 150 5,000 1,500 250 5,000 500 296,720
493,670 37.52 274,768 17,986 256,782
506,833 38.52 262,869 19,236 243,633
506,833 38.52 264,043 19,514 244,529
THIS COMPANY AND TH
Ballerina Tech Balance Sheet Detail Row 55 YTD Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Property, Plant & Equipment Property Plant & Equipment Accumulated Depreciation Net PP&E Other Assets Total Assets Liabilities & Shareholders Equity Current Liabilities Line of Credit CPLTD Accounts Payable Accrued Expenses Income Taxes Payable Total Current Liabilities Long Term Liabilities Long Term Debt Due to Shareholders Total Long Term Liabilities Total Liabilities Stockholders' Equity / (Deficit): Common Stock Preferred Series A Retained Earnings/(Deficit) Net Income / (Loss) Total Stockholders' Equity / (Deficit)
Month 1
Month 2
2,646,308 12,699 2,659,008
2,555,098 25,399 2,580,497
55,000 1,528 53,472
55,000 3,056 51,944
250,000
250,000
2,962,480
2,882,441
2,525 61,391 63,917
5,051 65,391 70,442
63,917
70,442
3,000,000 3,000,000 (101,437) (101,437) (86,564) 2,898,563 2,811,999
Total Liabilities and Stockholders' Equity / (Deficit)
2,962,480
2,882,441
Check Total Working Capital
2,595,091
2,510,055
Current Ratio AR AP AE
41.60
36.63
12,699 2,525 61,391
25,399 5,051 65,391
55,000 55,000
55,000 55,000
36
1,528 1,528 53,472
1,528 3,056 51,944
2500
5,000
15 30 15
CAPEX Opening Additions Writedoffs Closing Depreciation Accumulated Depreciation Net Book Balance Capex Additions
-
OMPANY AND THE MODEL ARE TOTALLY FICTIOUS
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
2,473,782 38,118 2,511,900
2,412,358 50,817 2,463,175
2,360,807 63,517 2,424,324
2,329,130 76,216 2,405,346
2,299,920 88,916 2,388,835
2,283,196 101,635 2,384,831
2,276,366 114,334 2,390,700
60,000 4,722 55,278
60,000 6,389 53,611
65,000 8,194 56,806
65,000 10,000 55,000
70,000 11,944 58,056
70,000 13,889 56,111
75,000 15,972 59,028
250,000
250,000
250,000
250,000
250,000
250,000
250,000
2,817,177
2,766,786
2,731,130
2,710,346
2,696,891
2,690,942
2,699,728
7,577 69,391 76,968
10,102 73,391 83,494
12,628 77,391 90,019
15,153 81,391 96,545
17,679 92,798 110,476
20,205 96,798 117,002
22,730 100,798 123,528
76,968
83,494
90,019
96,545
110,476
117,002
123,528
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 (188,001) (259,791) (316,707) (358,889) (386,198) (413,585) (426,060) (71,790) (56,917) (42,182) (27,309) (27,387) (12,474) 2,260 2,740,209 2,683,293 2,641,111 2,613,802 2,586,415 2,573,940 2,576,200 2,817,177
2,766,786
2,731,130
2,710,346
2,696,891
2,690,942
2,699,728
2,434,932
2,379,682
2,334,305
2,308,802
2,278,359
2,267,829
2,267,173
32.64
29.50
26.93
24.91
21.62
20.38
19.35
38,118 7,577 69,391
50,817 10,102 73,391
63,517 12,628 77,391
76,216 15,153 81,391
88,916 17,679 92,798
101,635 20,205 96,798
114,334 22,730 100,798
55,000 5,000 60,000
60,000 60,000
60,000 5,000 65,000
65,000 65,000
65,000 5,000 70,000
70,000 70,000
70,000 5,000 75,000
1,667 4,722 55,278
1,667 6,389 53,611
1,806 8,194 56,806
1,806 10,000 55,000
1,944 11,944 58,056
1,944 13,889 56,111
2,083 15,972 59,028
5,000
-
5,000
-
5,000
-
5,000
TIOUS
Month 10 Month 11 Month 12 Month 13 Month 14 Month 15 Month 16
2,289,409 127,034 2,416,442
2,312,325 139,733 2,452,058
2,355,134 152,452 2,507,586
2,409,578 164,893 2,574,471
2,472,818 159,637 2,632,455
2,525,927 159,657 2,685,584
2,575,136 159,637 2,734,772
75,000 18,056 56,944
80,000 20,278 59,722
80,000 22,500 57,500
85,000 24,861 60,139
85,000 27,222 57,778
90,000 29,722 60,278
95,000 32,361 62,639
250,000
250,000
250,000
250,000
250,000
250,000
250,000
2,723,387
2,761,780
2,815,086
2,884,610
2,940,233
2,995,861
3,047,411
25,256 104,798 130,053
27,781 108,798 136,579
30,307 112,798 143,105
31,694 114,798 146,492
31,589 114,798 146,387
31,590 114,798 146,387
31,589 118,698 150,287
130,053
136,579
143,105
146,492
146,387
146,387
150,287
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 (423,800) (406,666) (374,799) (328,018) (261,882) (206,154) (150,526) 17,133 31,868 46,781 66,136 55,728 55,629 47,650 2,593,334 2,625,201 2,671,982 2,738,118 2,793,846 2,849,474 2,897,124 2,723,387
2,761,780
2,815,086
2,884,610
2,940,233
2,995,861
3,047,411
2,286,389
2,315,479
2,364,482
2,427,979
2,486,068
2,539,197
2,584,485
18.58
17.95
17.52
17.57
17.98
18.35
18.20
127,034 25,256 104,798
139,733 27,781 108,798
152,452 30,307 112,798
164,893 31,694 114,798
159,637 31,589 114,798
159,657 31,590 114,798
159,637 31,589 118,698
75,000 75,000
75,000 5,000 80,000
80,000 80,000
80,000 5,000 85,000
85,000 85,000
85,000 5,000 90,000
90,000 5,000 95,000
2,083 18,056 56,944
2,222 20,278 59,722
2,222 22,500 57,500
2,361 24,861 60,139
2,361 27,222 57,778
2,500 29,722 60,278
2,639 32,361 62,639
5,000
5,000
-
5,000
-
5,000
-
Month 17 Month 18 Month 19
Month 20
Month 21
Month 22
Month 23
2,620,445 159,657 2,780,101
2,665,773 159,657 2,825,430
2,694,550 159,637 2,854,186
2,723,362 159,657 2,883,018
2,752,242 159,657 2,911,899
2,781,165 159,637 2,940,801
2,810,123 159,657 2,969,779
100,000 35,139 64,861
105,000 38,056 66,944
110,000 41,111 68,889
115,000 44,306 70,694
120,000 47,639 72,361
125,000 51,111 73,889
130,000 54,722 75,278
250,000
250,000
250,000
250,000
250,000
250,000
250,000
3,094,962
3,142,374
3,173,075
3,203,713
3,234,260
3,264,690
3,295,057
31,590 118,698 150,287
31,590 118,698 150,287
31,589 118,698 150,287
31,590 118,698 150,287
31,590 118,698 150,287
31,589 118,698 150,287
31,590 118,698 150,287
150,287
150,287
150,287
150,287
150,287
150,287
150,287
3,000,000 3,000,000 3,000,000 (102,876) (55,325) (7,913) 47,551 47,412 30,702 2,944,675 2,992,087 3,022,789
3,000,000 22,789 30,637 3,053,426
3,000,000 53,426 30,547 3,083,973
3,000,000 83,973 30,431 3,114,404
3,000,000 114,404 30,366 3,144,770
3,094,962
3,142,374
3,173,075
3,203,713
3,234,260
3,264,690
3,295,057
2,629,814
2,675,142
2,703,900
2,732,731
2,761,612
2,790,515
2,819,492
18.50
18.80
18.99
19.18
19.38
19.57
19.76
159,657 31,590 118,698
159,657 31,590 118,698
159,637 31,589 118,698
159,657 31,590 118,698
159,657 31,590 118,698
159,637 31,589 118,698
159,657 31,590 118,698
95,000 5,000 100,000
100,000 5,000 105,000
105,000 5,000 110,000
110,000 5,000 115,000
115,000 5,000 120,000
120,000 5,000 125,000
125,000 5,000 130,000
2,778 35,139 64,861
2,917 38,056 66,944
3,056 41,111 68,889
3,194 44,306 70,694
3,333 47,639 72,361
3,472 51,111 73,889
3,611 54,722 75,278
5,000
5,000
5,000
5,000
5,000
5,000
5,000
Month 24
Month 25
Month 26
Month 27
Month 28
Month 29
Month 30
2,839,161 159,697 2,998,857
2,887,296 249,802 3,137,099
2,984,358 245,469 3,229,828
3,072,376 245,812 3,318,188
3,165,916 246,259 3,412,175
3,255,096 246,601 3,501,697
3,349,797 247,048 3,596,845
135,000 58,472 76,528
145,000 62,500 82,500
150,000 66,667 83,333
160,000 71,111 88,889
165,000 75,694 89,306
175,000 80,556 94,444
180,000 85,556 94,444
250,000
250,000
250,000
250,000
250,000
250,000
250,000
3,325,385
3,469,599
3,563,161
3,657,077
3,751,480
3,846,141
3,941,290
31,590 118,698 150,288
47,588 147,598 195,186
47,501 147,598 195,099
47,508 147,598 195,106
47,517 147,598 195,115
47,524 147,598 195,122
47,533 147,598 195,131
150,288
195,186
195,099
195,106
195,115
195,122
195,131
3,000,000 144,770 30,327 3,175,097
3,000,000 175,097 99,316 3,274,413
3,000,000 274,413 93,649 3,368,062
3,000,000 368,062 93,909 3,461,971
3,000,000 461,971 94,394 3,556,366
3,000,000 556,366 94,654 3,651,020
3,000,000 651,020 95,140 3,746,159
3,325,385
3,469,599
3,563,161
3,657,077
3,751,480
3,846,141
3,941,290
2,848,570
2,941,913
3,034,729
3,123,082
3,217,060
3,306,575
3,401,715
19.95
16.07
16.55
17.01
17.49
17.95
18.43
159,697 31,590 118,698
249,802 47,588 147,598
245,469 47,501 147,598
245,812 47,508 147,598
246,259 47,517 147,598
246,601 47,524 147,598
247,048 47,533 147,598
130,000 5,000 135,000
135,000 10,000 145,000
145,000 5,000 150,000
150,000 10,000 160,000
160,000 5,000 165,000
165,000 10,000 175,000
175,000 5,000 180,000
3,750 58,472 76,528
4,028 62,500 82,500
4,167 66,667 83,333
4,444 71,111 88,889
4,583 75,694 89,306
4,861 80,556 94,444
5,000 85,556 94,444
5,000
10,000
5,000
10,000
5,000
10,000
5,000
Month 31
Month 32
Month 33
Month 34
Month 35
Month 36
Month 37
3,434,034 247,443 3,681,477
3,524,911 247,785 3,772,696
3,606,406 248,233 3,854,639
3,698,494 248,575 3,947,069
3,781,200 249,022 4,030,222
3,874,498 249,364 4,123,863
3,972,166 356,096 4,328,263
195,000 90,972 104,028
200,000 96,528 103,472
215,000 102,500 112,500
220,000 108,611 111,389
235,000 115,139 119,861
240,000 121,806 118,194
262,500 129,097 133,403
250,000
250,000
250,000
250,000
250,000
250,000
250,000
4,035,505
4,126,168
4,217,139
4,308,458
4,400,083
4,492,057
4,711,665
47,541 151,498 199,038
47,548 151,498 199,045
47,557 151,498 199,054
47,564 151,498 199,061
47,573 151,498 199,070
47,579 151,498 199,077
63,915 206,235 270,150
199,038
199,045
199,054
199,061
199,070
199,077
270,150
3,000,000 746,159 90,307 3,836,466
3,000,000 836,466 90,657 3,927,123
3,000,000 927,123 90,962 4,018,085
3,000,000 1,018,085 91,312 4,109,397
3,000,000 1,109,397 91,617 4,201,013
3,000,000 1,201,013 91,967 4,292,980
3,000,000 1,292,980 148,535 4,441,516
4,035,505
4,126,168
4,217,139
4,308,458
4,400,083
4,492,057
4,711,665
3,482,438
3,573,651
3,655,585
3,748,008
3,831,152
3,924,786
4,058,113
18.50
18.95
19.36
19.83
20.25
20.71
16.02
247,443 47,541 151,498
247,785 47,548 151,498
248,233 47,557 151,498
248,575 47,564 151,498
249,022 47,573 151,498
249,364 47,579 151,498
356,096 63,915 206,235
180,000 15,000 195,000
195,000 5,000 200,000
200,000 15,000 215,000
215,000 5,000 220,000
220,000 15,000 235,000
235,000 5,000 240,000
240,000 22,500 262,500
5,417 90,972 104,028
5,556 96,528 103,472
5,972 102,500 112,500
6,111 108,611 111,389
6,528 115,139 119,861
6,667 121,806 118,194
7,292 129,097 133,403
15,000
5,000
15,000
5,000
15,000
5,000
22,500
Month 38
Month 39
Month 40
Month 41
Month 42
Month 43
Month 44
4,115,575 331,773 4,447,347
4,218,032 332,319 4,550,351
4,338,729 332,825 4,671,555
4,442,803 333,352 4,776,154
4,558,981 333,878 4,892,859
4,659,661 334,424 4,994,086
4,773,630 334,931 5,108,560
267,500 136,528 130,972
290,000 144,583 145,417
295,000 152,778 142,222
317,500 161,597 155,903
327,500 170,694 156,806
350,000 180,417 169,583
360,000 190,417 169,583
250,000
250,000
250,000
250,000
250,000
250,000
250,000
4,828,320
4,945,768
5,063,777
5,182,057
5,299,664
5,413,669
5,528,144
63,428 206,235 269,663
63,439 206,235 269,674
63,450 206,235 269,685
63,460 206,235 269,695
63,471 210,135 273,606
63,482 210,135 273,617
63,492 210,135 273,627
269,663
269,674
269,685
269,695
273,606
273,617
273,627
3,000,000 1,441,516 117,141 4,558,656
3,000,000 1,558,656 117,437 4,676,093
3,000,000 1,676,093 117,999 4,794,092
3,000,000 1,794,092 118,270 4,912,362
3,000,000 1,912,362 113,697 5,026,059
3,000,000 2,026,059 113,994 5,140,052
3,000,000 2,140,052 114,465 5,254,517
4,828,320
4,945,768
5,063,777
5,182,057
5,299,664
5,413,669
5,528,144
4,177,684
4,280,677
4,401,870
4,506,459
4,619,253
4,720,469
4,834,934
16.49
16.87
17.32
17.71
17.88
18.25
18.67
331,773 63,428 206,235
332,319 63,439 206,235
332,825 63,450 206,235
333,352 63,460 206,235
333,878 63,471 210,135
334,424 63,482 210,135
334,931 63,492 210,135
262,500 5,000 267,500
267,500 22,500 290,000
290,000 5,000 295,000
295,000 22,500 317,500
317,500 10,000 327,500
327,500 22,500 350,000
350,000 10,000 360,000
7,431 136,528 130,972
8,056 144,583 145,417
8,194 152,778 142,222
8,819 161,597 155,903
9,097 170,694 156,806
9,722 180,417 169,583
10,000 190,417 169,583
5,000
22,500
5,000
22,500
10,000
22,500
10,000
Month 45
Month 46
Month 47
Month 48
Month 49
Month 50
4,875,975 335,457 5,211,432
4,991,627 336,088 5,327,715
5,089,624 336,509 5,426,133
5,201,893 337,036 5,538,928
5,319,753 417,947 5,737,700
5,495,530 418,670 5,914,199
382,500 201,042 181,458
392,500 211,944 180,556
420,000 223,611 196,389
430,000 235,556 194,444
457,500 248,264 209,236
467,500 261,250 206,250
250,000
250,000
250,000
250,000
250,000
250,000
5,642,890
5,758,270
5,872,522
5,983,373
6,196,936
6,370,449
63,502 210,135 273,637
63,515 210,135 273,650
63,523 214,035 277,558
63,534 214,035 277,569
79,348 239,035 318,383
79,362 239,035 318,397
273,637
273,650
277,558
277,569
318,383
318,397
3,000,000 2,254,517 114,736 5,369,253
3,000,000 2,369,253 115,368 5,484,620
3,000,000 2,484,620 110,343 5,594,964
3,000,000 2,594,964 110,840 5,705,804
3,000,000 2,705,804 172,749 5,878,553
3,000,000 2,878,553 173,499 6,052,052
5,642,890
5,758,270
5,872,522
5,983,373
6,196,936
6,370,449
4,937,794
5,054,065
5,148,575
5,261,360
5,419,317
5,595,802
19.05
19.47
19.55
19.96
18.02
18.57
335,457 63,502 210,135
336,088 63,515 210,135
336,509 63,523 214,035
337,036 63,534 214,035
417,947 79,348 239,035
418,670 79,362 239,035
360,000 22,500 382,500
382,500 10,000 392,500
392,500 27,500 420,000
420,000 10,000 430,000
430,000 27,500 457,500
457,500 10,000 467,500
10,625 201,042 181,458
10,903 211,944 180,556
11,667 223,611 196,389
11,944 235,556 194,444
12,708 248,264 209,236
12,986 261,250 206,250
22,500
10,000
27,500
10,000
27,500
10,000
Month 51
Month 52
Month 53
Month 54
Month 55
Month 56
5,648,869 419,348 6,068,217
5,821,739 419,901 6,241,640
5,973,202 420,664 6,393,866
6,148,211 421,321 6,569,533
6,295,730 421,874 6,717,604
6,467,722 422,637 6,890,359
500,000 275,139 224,861
510,000 289,306 220,694
542,500 304,375 238,125
552,500 319,722 232,778
590,000 336,111 253,889
600,000 352,778 247,222
250,000
250,000
250,000
250,000
250,000
250,000
6,543,078
6,712,335
6,881,991
7,052,311
7,221,493
7,387,581
79,376 242,935 322,311
79,387 242,935 322,322
79,402 242,935 322,337
79,415 242,935 322,350
79,426 246,835 326,261
79,441 246,835 326,276
322,311
322,322
322,337
322,350
326,261
326,276
3,000,000 3,052,052 168,715 6,220,767
3,000,000 3,220,767 169,246 6,390,013
3,000,000 3,390,013 169,641 6,559,654
3,000,000 3,559,654 170,307 6,729,961
3,000,000 3,729,961 165,271 6,895,232
3,000,000 3,895,232 166,073 7,061,305
6,543,078
6,712,335
6,881,991
7,052,311
7,221,493
7,387,581
5,745,906
5,919,319
6,071,529
6,247,183
6,391,343
6,564,083
18.83
19.36
19.84
20.38
20.59
21.12
419,348 79,376 242,935
419,901 79,387 242,935
420,664 79,402 242,935
421,321 79,415 242,935
421,874 79,426 246,835
422,637 79,441 246,835
467,500 32,500 500,000
500,000 10,000 510,000
510,000 32,500 542,500
542,500 10,000 552,500
552,500 37,500 590,000
590,000 10,000 600,000
13,889 275,139 224,861
14,167 289,306 220,694
15,069 304,375 238,125
15,347 319,722 232,778
16,389 336,111 253,889
16,667 352,778 247,222
32,500
10,000
32,500
10,000
37,500
10,000
Month 57
Month 58
Month 59
Month 60
6,613,495 423,190 7,036,686
6,787,642 423,953 7,211,595
6,926,196 424,591 7,350,787
7,094,073 425,184 7,519,257
637,500 370,486 267,014
647,500 388,472 259,028
692,500 407,708 284,792
702,500 427,222 275,278
250,000
250,000
250,000
250,000
7,553,700
7,720,623
7,885,579
8,044,534
79,452 246,835 326,287
79,468 246,835 326,303
79,480 253,416 332,897
79,492 253,416 332,909
326,287
326,303
332,897
332,909
3,000,000 4,061,305 166,107 7,227,412
3,000,000 4,227,412 166,908 7,394,321
3,000,000 4,394,321 158,361 7,552,682
3,000,000 4,552,682 158,944 7,711,626
7,553,700
7,720,623
7,885,579
8,044,534
6,710,398
6,885,293
7,017,890
7,186,348
21.57
22.10
22.08
22.59
423,190 79,452 246,835
423,953 79,468 246,835
424,591 79,480 253,416
425,184 79,492 253,416
600,000 37,500 637,500
637,500 10,000 647,500
647,500 45,000 692,500
692,500 10,000 702,500
17,708 370,486 267,014
17,986 388,472 259,028
19,236 407,708 284,792
19,514 427,222 275,278
37,500
10,000
45,000
10,000
Ballerina Tech Cash Flow
THIS COMPANY AND THE M
YTD
Month 1
Month 2
Cash Flow Cash provided by (used in) Operating activities Net income (loss) for the period Non-cash transactions Depreciation Amortization Non-cash interest accrued Sub-total Changes in assets and liabilities Accounts receivable Inventories Prepaid expenses Other Assets Accounts payable Accrued expenses Income taxes payable Sub-total Total Operating Activities Investing Activities Purchase of PPE Total Financing activities Line of credit Long Term Debt Proceeds from stock Due to shareholders Total
3,000,000 3,000,000
Increase (decrease) in cash during period Cash beginning of period Cash end of period
2,646,308 2,646,308
(101,437)
(86,564)
1,528 (99,909)
1,528 (85,036)
(12,699) (250,000) 2,525 61,391 (198,783) (298,692)
(12,699) 2,525 4,000 (6,174) (91,210)
(55,000) (55,000)
(91,210) 2,646,308 2,555,098
Y AND THE MODEL ARE TOTALLY FICTIOUS
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
(71,790)
(56,917)
(42,182)
(27,309)
(27,387)
(12,474)
2,260
1,667 (70,123)
1,667 (55,250)
1,806 (40,377)
1,806 (25,503)
1,944 (25,443)
1,944 (10,530)
2,083 4,343
(12,719) 2,526 4,000 (6,193) (76,317)
(12,699) 2,525 4,000 (6,174) (61,424)
(12,699) 2,525 4,000 (6,174) (46,551)
(12,699) 2,525 4,000 (6,174) (31,677)
(12,699) 2,525 11,406 1,232 (24,210)
(12,719) 2,526 4,000 (6,193) (16,723)
(5,000) (5,000.00) (81,317) 2,555,098 2,473,782
(61,424) 2,473,782 2,412,358
(5,000) (5,000) (51,551) 2,412,358 2,360,807
(31,677) 2,360,807 2,329,130
(5,000) (5,000) (29,210) 2,329,130 2,299,920
(16,723) 2,299,920 2,283,196
(12,699) 2,525 4,000 (6,174) (1,830) (5,000) (5,000) (6,830) 2,283,196 2,276,366
Month 10
Month 11
Month 12
Month 13
Month 14
Month 15
Month 16
17,133
31,868
46,781
66,136
55,728
55,629
47,650
2,083 19,217
2,222 34,090
2,222 49,003
2,361 68,497
2,361 58,089
2,500 58,129
2,639 50,289
(12,699) 2,525 4,000 (6,174) 13,043
(12,699) 2,525 4,000 (6,174) 27,916
(12,719) 2,526 4,000 (6,193) 42,809
(12,441) 1,387 2,000 (9,054) 59,444
5,257 (105) 5,152 63,241
(20) 0 (20) 58,109
20 (0) 3,900 3,920 54,209
(5,000) (5,000)
(5,000) (5,000)
13,043 2,276,366 2,289,409
(5,000) (5,000) 22,916 2,289,409 2,312,325
42,809 2,312,325 2,355,134
(5,000) (5,000) 54,444 2,355,134 2,409,578
63,241 2,409,578 2,472,818
53,109 2,472,818 2,525,927
49,209 2,525,927 2,575,136
Month 17
Month 18
Month 19
Month 20
Month 21
Month 22
Month 23
47,551
47,412
30,702
30,637
30,547
30,431
30,366
2,778 50,329
2,917 50,329
3,056 33,757
3,194 33,832
3,333 33,880
3,472 33,903
3,611 33,977
(20) 0 (20) 50,309
50,329
20 (0) 20 33,777
(20) 0 (20) 33,812
33,880
20 (0) 20 33,923
(20) 0 (20) 33,958
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
(5,000) (5,000)
45,309 2,575,136 2,620,445
45,329 2,620,445 2,665,773
28,777 2,665,773 2,694,550
28,812 2,694,550 2,723,362
28,880 2,723,362 2,752,242
28,923 2,752,242 2,781,165
28,958 2,781,165 2,810,123
Month 24
Month 25
Month 26
Month 27
Month 28
Month 29
Month 30
30,327
99,316
93,649
93,909
94,394
94,654
95,140
3,750 34,077
4,028 103,344
4,167 97,816
4,444 98,353
4,583 98,978
4,861 99,515
5,000 100,140
(40) 1 (39) 34,038
(90,106) 15,998 28,900 (45,208) 58,136
4,333 (87) 4,246 102,062
(342) 7 (335) 98,018
(447) 9 (438) 98,539
(342) 7 (335) 99,180
(447) 9 (438) 99,701
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
(10,000) (10,000)
(5,000) (5,000)
29,038 2,810,123 2,839,161
48,136 2,839,161 2,887,296
97,062 2,887,296 2,984,358
88,018 2,984,358 3,072,376
93,539 3,072,376 3,165,916
89,180 3,165,916 3,255,096
94,701 3,255,096 3,349,797
Month 31
Month 32
Month 33
Month 34
Month 35
Month 36
Month 37
90,307
90,657
90,962
91,312
91,617
91,967
148,535
5,417 95,723
5,556 96,213
5,972 96,934
6,111 97,423
6,528 98,144
6,667 98,634
7,292 155,827
(395) 8 3,900 3,513 99,237
(342) 7 (335) 95,877
(447) 9 (438) 96,496
(342) 7 (335) 97,088
(447) 9 (438) 97,706
(342) 7 (335) 98,298
(106,732) 16,336 54,738 (35,659) 120,168
(15,000) (15,000)
(5,000) (5,000)
(15,000) (15,000)
(5,000) (5,000)
(15,000) (15,000)
(5,000) (5,000)
(22,500) (22,500)
84,237 3,349,797 3,434,034
90,877 3,434,034 3,524,911
81,496 3,524,911 3,606,406
92,088 3,606,406 3,698,494
82,706 3,698,494 3,781,200
93,298 3,781,200 3,874,498
97,668 3,874,498 3,972,166
Month 38
Month 39
Month 40
Month 41
Month 42
Month 43
Month 44
117,141
117,437
117,999
118,270
113,697
113,994
114,465
7,431 124,571
8,056 125,493
8,194 126,193
8,819 127,089
9,097 122,794
9,722 123,716
10,000 124,465
24,324 (486) 23,837 148,408
(546) 11 (535) 124,958
(506) 10 (496) 125,697
(526) 11 (516) 126,574
(526) 11 3,900 3,384 126,178
(546) 11 (535) 123,180
(506) 10 (496) 123,968
(5,000) (5,000)
(22,500) (22,500)
(5,000) (5,000)
(22,500) (22,500)
(10,000) (10,000)
(22,500) (22,500)
(10,000) (10,000)
143,408 3,972,166 4,115,575
102,458 4,115,575 4,218,032
120,697 4,218,032 4,338,729
104,074 4,338,729 4,442,803
116,178 4,442,803 4,558,981
100,680 4,558,981 4,659,661
113,968 4,659,661 4,773,630
Month 45
Month 46
Month 47
Month 48
Month 49
Month 50
Month 51
114,736
115,368
110,343
110,840
172,749
173,499
168,715
10,625 125,361
10,903 126,270
11,667 122,010
11,944 122,785
12,708 185,458
12,986 186,485
13,889 182,604
(526) 11 (516) 124,845
(631) 13 (619) 125,652
(421) 8 3,900 3,487 125,497
(526) 11 (516) 122,269
(80,911) 15,814 25,000 (40,097) 145,360
(723) 14 (708) 185,777
(678) 14 3,900 3,236 185,839
(22,500) (22,500)
(10,000) (10,000)
(27,500) (27,500)
(10,000) (10,000)
(27,500) (27,500)
(10,000) (10,000)
(32,500) (32,500)
102,345 4,773,630 4,875,975
115,652 4,875,975 4,991,627
97,997 4,991,627 5,089,624
112,269 5,089,624 5,201,893
117,860 5,201,893 5,319,753
175,777 5,319,753 5,495,530
153,339 5,495,530 5,648,869
Month 52
Month 53
Month 54
Month 55
Month 56
Month 57
Month 58
169,246
169,641
170,307
165,271
166,073
166,107
166,908
14,167 183,412
15,069 184,710
15,347 185,654
16,389 181,660
16,667 182,739
17,708 183,816
17,986 184,895
(553) 11 (542) 182,871
(763) 15 (748) 183,963
(658) 13 (645) 185,009
(553) 11 3,900 3,358 185,018
(763) 15 (748) 181,992
(553) 11 (542) 183,274
(763) 15 (748) 184,147
(10,000) (10,000)
(32,500) (32,500)
(10,000) (10,000)
(37,500) (37,500)
(10,000) (10,000)
(37,500) (37,500)
(10,000) (10,000)
172,871 5,648,869 5,821,739
151,463 5,821,739 5,973,202
175,009 5,973,202 6,148,211
147,518 6,148,211 6,295,730
171,992 6,295,730 6,467,722
145,774 6,467,722 6,613,495
174,147 6,613,495 6,787,642
Month 59
Month 60
158,361
158,944
19,236 177,597
19,514 178,458
(638) 13 6,581 5,956 183,554
(593) 12 (581) 177,877
(45,000) (45,000)
(10,000) (10,000)
138,554 6,787,642 6,926,196
167,877 6,926,196 7,094,073
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#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
425,184 250,000 (79,492) (253,416) 342,275 #REF!
#REF!
#REF!
#REF!
#REF!
(3,000,000) (3,000,000) #REF! 7,094,073 #REF!
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-
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-
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF!
#REF! #REF! #REF! #REF! #REF! #REF!
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