-                          -  
Statement of Projected Cash Flow
Statement of Projected Cash Flow
Confidence level 10%
Year 1 Year 2 Year 3 Year 4 Year 5
Period 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
Cash Revenues Basic period
New Domains Registered - basic period      150,000
Weighted Avg. Initial/basic Subscription Term 1 2.1 Years
Sunrise Period Subscription Term (Only) 3.2 Years
Renewal Rate 75%
Weighted Avg. Renewal Term Following Initial Registration Period 1.5 Years
Registration Fee Per Domain Name Year $5.45
 Registry back end Fee per Name $2.00
Registration Period  Sunrise IP Period  Sunrise IP Period  Quiet Period  Initial Rollout  Initial Rollout  Initial Rollout  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic  Basic
Monthly Growth %                       -                          -                      -                      -                      -                      -                      -                   0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.03                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                 0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.02                   0.01                   0.01                   0.01                   0.01                   0.01                   0.01
New Registrations 337,500 225,113 0 450,000 337,500 281,250 225,000 234,000 243,360 253,094 263,218 273,747 283,328 293,245 303,508 314,131 325,125 336,505 348,283 360,472 373,089 386,147 399,662 413,650 426,060 438,842 452,007 465,567 479,534 493,920 508,738 524,000 539,720 555,912 572,589 589,767 604,511 619,623 635,114 650,992 667,267 683,948 701,047 718,573 736,538 754,951 773,825 793,170 801,102 809,113 817,204 825,376 833,630 841,966
1st Renewal Period[1] 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 337,500 253,125 210,938 168,750 175,500 182,520 189,821 197,414 205,310 465,621 388,768 227,631 235,598 243,844 252,379 261,212 270,354 279,817 289,610 299,747 310,238 319,545 329,131 339,005 349,175 359,651 370,440
2ed Renewal Period 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 253,125 189,844 158,203 126,563 131,625 136,890 142,366 148,060 153,983
Sales + Renewals 337,500 225,113 0 450,000 337,500 281,250 225,000 234,000 243,360 253,094 263,218 273,747 283,328 293,245 303,508 314,131 325,125 336,505 348,283 360,472 373,089 386,147 399,662 413,650 426,060 438,842 452,007 803,067 732,659 704,858 677,488 699,500 722,240 745,732 770,002 795,077 1,070,132 1,008,391 862,745 886,590 911,111 936,327 962,259 988,928 1,016,354 1,297,686 1,263,415 1,261,611 1,247,210 1,269,869 1,293,099 1,316,917 1,341,341 1,366,389
Cummulative Under Management 337,500 562,613 0 1,012,613 1,350,113 1,631,363 1,856,363 2,090,363 2,333,723 2,586,817 2,850,035 3,123,782 3,407,110 3,700,355 4,003,863 4,317,994 4,643,119 4,979,624 5,327,906 5,688,379 6,061,468 6,447,615 6,847,277 7,260,927 7,686,987 8,125,829 8,577,836 9,380,903 10,113,562 10,818,420 11,495,907 12,195,407 12,917,647 13,663,380 14,433,382 15,228,459 16,298,590 17,306,982 18,169,727 19,056,317 19,967,427 20,903,754 21,866,013 22,854,941 23,871,295 25,168,981 26,432,397 27,694,008 28,941,217 30,211,087 31,504,186 32,821,103 34,162,444 35,528,833
Cash from New Registrations + Renewals 5,886,000 3,925,962 0 5,150,250 3,862,688 3,218,906 2,575,125 2,678,130 2,785,255 2,896,665 3,012,532 3,133,033 3,242,689 3,356,184 3,473,650 3,595,228 3,721,061 3,851,298 3,986,093 4,125,607 4,270,003 4,419,453 4,574,134 4,734,228 4,876,255 5,022,543 5,173,219 8,087,478 7,557,565 7,377,330 7,202,035 7,431,891 7,669,195 7,914,192 8,167,136 8,428,288 10,725,077 10,269,767 9,129,764 9,376,617 9,630,292 9,890,984 10,158,891 10,434,217 10,717,174 13,077,275 12,858,826 12,907,339 12,815,542 13,026,982 13,243,346 13,464,779 13,691,432 13,923,461
Registry Cash Expenses- Based on fees paid to outsouced service providers and internal expenses 2,160,000 1,440,720 0 1,890,000 1,417,500 1,181,250 945,000 982,800 1,022,112 1,062,996 1,105,516 1,149,737 1,189,978 1,231,627 1,274,734 1,319,350 1,365,527 1,413,320 1,462,787 1,513,984 1,566,974 1,621,818 1,678,581 1,737,332 1,789,451 1,843,135 1,898,429 3,372,882 3,077,168 2,960,402 2,845,449 2,937,900 3,033,408 3,132,076 3,234,010 3,339,322 4,494,553 4,235,243 3,623,529 3,723,678 3,826,665 3,932,573 4,041,488 4,153,496 4,268,688 5,450,282 5,306,344 5,298,767 5,238,280 5,333,451 5,431,018 5,531,052 5,633,632 5,738,834
Total Registry Operational Cash 3,726,000 2,485,242 0 3,260,250 2,445,188 2,037,656 1,630,125 1,695,330 1,763,143 1,833,669 1,907,016 1,983,296 2,052,712 2,124,557 2,198,916 2,275,878 2,355,534 2,437,978 2,523,307 2,611,623 2,703,029 2,797,635 2,895,553 2,996,897 3,086,804 3,179,408 3,274,790 4,714,596 4,480,397 4,416,928 4,356,586 4,493,992 4,635,788 4,782,117 4,933,125 5,088,966 6,230,523 6,034,524 5,506,235 5,652,939 5,803,627 5,958,411 6,117,403 6,280,721 6,448,486 7,626,993 7,552,482 7,608,572 7,577,262 7,693,531 7,812,328 7,933,726 8,057,800 8,184,627
Year 1 Year 2 Year 3 Year 4 Year 5
1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
Expenses
Systems Development & Support
Office outfitting including computers and networking               6,000              10,000              16,000              12,000               8,000               2,000                         -                   6,000                      -                      -               6,000                      -                      -                      -                      -                      -                      -               2,000                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -               2,000                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -
Total Office outfitting including computers and networking               6,000              10,000              16,000              12,000               8,000               2,000                         -                   6,000                      -                      -               6,000                      -                      -                      -                      -                      -                      -               2,000                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -               2,000                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -
Customer Service
Labor                      -                      -               3,646              21,771              33,333              36,042                 36,042                  42,396              42,396              42,396              48,750            112,813              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944            115,006              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236            117,299              55,632              55,632              55,632              55,632              55,632              55,632              55,632              55,632                55,632                55,632                55,632              119,694                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135              122,198
Other Customer Service                                                                                                                        
Total Customer Service                      -                      -               3,646              21,771              33,333              36,042                 36,042                  42,396              42,396              42,396              48,750            112,813              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944              50,944            115,006              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236              53,236            117,299              55,632              55,632              55,632              55,632              55,632              55,632              55,632              55,632                55,632                55,632                55,632              119,694                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135                58,135              122,198
Marketing & Sales
Labor                    -                      -                20,625              20,625              20,625              20,625                 20,625                  28,438              28,438              28,438              36,250              85,688              37,881              37,881              37,881              37,881              37,881              37,881              37,881              37,881              37,881              37,881              37,881              87,319              39,586              39,586              39,586              39,586              39,586              39,586              39,586              39,586              39,586              39,586              39,586              89,023              41,367              41,367              41,367              41,367              41,367              41,367              41,367              41,367                41,367                41,367                41,367                90,805                43,229                43,229                43,229                43,229                43,229                43,229                43,229                43,229                43,229                43,229                43,229                92,666
Media                    -                      -                      -                      -                      -                      -                 337,500                225,113                    -              450,000            337,500            281,250            225,000            234,000            243,360            253,094            263,218            273,747            283,328            293,245            303,508            314,131            325,125            336,505            348,283            360,472            373,089            386,147            399,662            413,650            426,060            438,842            452,007            803,067            732,659            704,858            677,488            699,500            722,240            745,732            770,002            795,077         1,070,132         1,008,391              862,745              886,590              911,111              936,327              962,259              988,928           1,016,354           1,297,686           1,263,415           1,261,611           1,247,210           1,269,869           1,293,099           1,316,917           1,341,341           1,366,389
Co-op Advertising                    -                      -                      -                      -                      -                      -                   84,375                  56,278                    -              112,500              84,375              70,313              56,250              58,500              60,840              63,274              65,805              68,437              70,832              73,311              75,877              78,533              81,281              84,126              87,071              90,118              93,272              96,537              99,916            103,413            106,515            109,710            113,002            200,767            183,165            176,214            169,372            174,875            180,560            186,433            192,501            198,769            267,533            252,098              215,686              221,648              227,778              234,082              240,565              247,232              254,089              324,422              315,854              315,403              311,802              317,467              323,275              329,229              335,335              341,597
Production                    -                      -                      -                      -                      -                      -                   67,500                  45,023                    -                90,000              67,500              56,250              45,000              46,800              48,672              50,619              52,644              54,749              56,666              58,649              60,702              62,826              65,025              67,301              69,657              72,094              74,618              77,229              79,932              82,730              85,212              87,768              90,401            160,613            146,532            140,972            135,498            139,900            144,448            149,146            154,000            159,015            214,026            201,678              172,549              177,318              182,222              187,265              192,452              197,786              203,271              259,537              252,683              252,322              249,442              253,974              258,620              263,383              268,268              273,278
Research                    -                      -                      -                      -                      -                      -                   33,750                  22,511                    -                45,000              33,750              28,125              22,500              23,400              24,336              25,309              26,322              27,375              28,333              29,324              30,351              31,413              32,513              33,650              34,828              36,047              37,309              38,615              39,966              41,365              42,606              43,884              45,201              80,307              73,266              70,486              67,749              69,950              72,224              74,573              77,000              79,508            107,013            100,839                86,275                88,659                91,111                93,633                96,226                98,893              101,635              129,769              126,342              126,161              124,721              126,987              129,310              131,692              134,134              136,639
Agency Fee                    -                      -                      -                      -                25,000              50,000                 67,500                  45,023                    -                90,000              67,500              56,250              45,000              46,800              48,672              50,619              52,644              54,749              56,666              58,649              60,702              62,826              65,025              67,301              69,657              72,094              74,618              77,229              79,932              82,730              85,212              87,768              90,401            160,613            146,532            140,972            135,498            139,900            144,448            149,146            154,000            159,015            214,026            201,678              172,549              177,318              182,222              187,265              192,452              197,786              203,271              259,537              252,683              252,322              249,442              253,974              258,620              263,383              268,268              273,278
Public Relations                    -                      -                      -                      -                25,000              50,000               168,750                112,556            300,000            225,000            168,750            140,625            112,500            117,000            121,680            126,547            131,609            136,873            141,664            146,622            151,754            157,065            162,563            168,252            174,141            180,236            186,544            193,074            199,831            206,825            213,030            219,421            226,003            401,534            366,330            352,429            338,744            349,750            361,120            372,866            385,001            397,538            535,066            504,196              431,373              443,295              455,555              468,163              481,129              494,464              508,177              648,843              631,708              630,806              623,605              634,935              646,550              658,459              670,670              683,195
Total Marketing & Sales                    -                      -                20,625              20,625              70,625            120,625               780,000                534,941            328,438         1,040,938            795,625            718,500            544,131            564,381            585,441            607,344            630,122            653,812            675,369            697,681            720,774            744,676            769,414            844,455            823,222            850,649            879,036            908,417            938,826            970,299            998,221         1,026,980         1,056,601         1,846,487         1,688,069         1,674,953         1,565,715         1,615,242         1,666,407         1,719,265         1,773,873         1,830,290         2,449,164         2,310,247           1,982,544           2,036,195           2,091,366           2,197,540           2,208,311           2,268,316           2,330,026           2,963,023           2,885,913           2,881,854           2,849,450           2,900,435           2,952,703           3,006,293           3,061,246           3,167,042
General & Administrative
Labor              28,125              38,229              55,313              64,896              68,438              68,438                 68,438                  68,438              68,438              68,438              68,438            164,313              71,517              71,517              71,517              71,517              71,517              71,517              71,517              71,517              71,517              71,517              71,517            167,392              74,735              74,735              74,735              74,735              74,735              74,735              74,735              74,735              74,735              74,735              74,735            170,610              78,099              78,099              78,099              78,099              78,099              78,099              78,099              78,099                78,099                78,099                78,099              173,974                81,613                81,613                81,613                81,613                81,613                81,613                81,613                81,613                81,613                81,613                81,613              177,488
Rent               1,407               3,752               7,504              10,318              12,194              12,663                 12,663                  14,070              14,070              14,070              15,477              15,477              15,477              15,477              15,477              15,477              15,477              15,946              15,946              15,946              15,946              15,946              15,946              15,946              15,946              15,946              15,946              15,946              15,946              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415              16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415                16,415
Telecommunications              12,125              12,334              12,669              12,920              13,087              13,129                 13,129                  13,254              13,254              13,254              13,379              13,379              13,379              13,379              13,379              13,379              13,379              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,421              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463              13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463                13,463
Materials & Supplies                    570               1,520               3,040               4,180               4,940               5,130                  5,130                   5,700               5,700               5,700               6,270               6,270               6,521               6,521               6,521               6,521               6,521               6,718               6,718               6,718               6,718               6,718               6,718               6,718               6,987               6,987               6,987               6,987               6,987               7,193               7,193               7,193               7,193               7,193               7,193               7,193               7,480               7,480               7,480               7,480               7,480               7,480               7,480               7,480                 7,480                 7,480                 7,480                 7,480                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780                 7,780
Travel & Entertainment                50,000              50,000              50,000              50,000              50,000              50,000                 50,000                  50,000              50,000              50,000              50,000              50,000              52,500              52,500              52,500              52,500              52,500              52,500              52,500              52,500              52,500              52,500              52,500              52,500              55,125              55,125              55,125              55,125              55,125              55,125              55,125              55,125              55,125              55,125              55,125              55,125              57,881              57,881              57,881              57,881              57,881              57,881              57,881              57,881                57,881                57,881                57,881                57,881                60,775                60,775                60,775                60,775                60,775                60,775                60,775                60,775                60,775                60,775                60,775                60,775
Seminars & Conferences                12,800              12,800              12,800              12,800              12,800              12,800                 12,800                  12,800              12,800              12,800              12,800              12,800              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,312              13,844              13,844              13,844              13,844              13,844              13,844              13,844              13,844              13,844              13,844              13,844              13,844              14,398              14,398              14,398              14,398              14,398              14,398              14,398              14,398                14,398                14,398                14,398                14,398                14,974                14,974                14,974                14,974                14,974                14,974                14,974                14,974                14,974                14,974                14,974                14,974
Insurance                 5,000               5,000               5,000               5,000               5,000               5,000                  5,000                   5,000               5,000               5,000               5,000               5,000               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,200               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,408               5,624               5,624               5,624               5,624               5,624               5,624               5,624               5,624                 5,624                 5,624                 5,624                 5,624                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849                 5,849
Facility Maintenance & Other                      -                 4,200               4,200               4,200               4,200               4,200                  4,200                   4,200               4,200               4,200               4,200               4,200               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,368               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,543               4,724               4,724               4,724               4,724               4,724               4,724               4,724               4,724                 4,724                 4,724                 4,724                 4,724                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913                 4,913
Legal Services                 6,000               6,024               6,048               6,072               6,097               6,121                  6,145                   6,170               6,195               6,219               6,244               6,269               6,294               6,320               6,345               6,370               6,396               6,421               6,447               6,473               6,499               6,525               6,551               6,577               6,603               6,630               6,656               6,683               6,710               6,736               6,763               6,790               6,818               6,845               6,872               6,900               6,927               6,955               6,983               7,011               7,039               7,067               7,095               7,124                 7,152                 7,181                 7,209                 7,238                 7,267                 7,296                 7,325                 7,355                 7,384                 7,414                 7,443                 7,473                 7,503                 7,533                 7,563                 7,593
Financial & Accounting Services                 5,800               5,823               5,846               5,870               5,893               5,917                  5,941                   5,964               5,988               6,012               6,036               6,060               6,085               6,109               6,133               6,158               6,183               6,207               6,232               6,257               6,282               6,307               6,332               6,358               6,383               6,409               6,434               6,460               6,486               6,512               6,538               6,564               6,590               6,617               6,643               6,670               6,696               6,723               6,750               6,777               6,804               6,831               6,859               6,886                 6,914                 6,941                 6,969                 6,997                 7,025                 7,053                 7,081                 7,110                 7,138                 7,167                 7,195                 7,224                 7,253                 7,282                 7,311                 7,340
Other Outside Services                 2,700               2,711               2,722               2,733               2,743               2,754                  2,765                   2,777               2,788               2,799               2,810               2,821               2,832               2,844               2,855               2,867               2,878               2,890               2,901               2,913               2,924               2,936               2,948               2,960               2,971               2,983               2,995               3,007               3,019               3,031               3,044               3,056               3,068               3,080               3,093               3,105               3,117               3,130               3,142               3,155               3,167               3,180               3,193               3,206                 3,218                 3,231                 3,244                 3,257                 3,270                 3,283                 3,296                 3,310                 3,323                 3,336                 3,350                 3,363                 3,376                 3,390                 3,403                 3,417
Trademark Review                      -                      -                      -                      -                      -                      -                    7,875                   5,253                    -                10,500               7,875               6,563               5,250               5,408               5,570               5,737               5,909               6,086               6,238               6,394               6,554               6,718               6,886               7,058               7,235               7,415               7,601               7,791               7,986               8,185               8,349               8,516               8,686              16,735              14,943              14,140              13,340              13,646              13,959              14,280              14,609              14,946              21,122              19,430                15,771                16,056                16,348                16,644                16,947                17,256                17,570                23,797                22,647                22,242                21,688                21,965                22,246                22,534                22,827                23,126
Site Hosting, Connectivity, and Devel. & Maint.                      -                      -                      -                 4,750               4,750               4,750                  4,750                   4,750               4,750               4,750               4,750               4,750               4,940               4,940               4,940               4,940               4,940               4,940               4,940               4,940               4,940               4,940               4,940               4,940               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,138               5,343               5,343               5,343               5,343               5,343               5,343               5,343               5,343                 5,343                 5,343                 5,343                 5,343                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557                 5,557
Other General & Administrative                 7,800               8,300              11,500              12,100              12,500              12,600                 12,600                  12,900              12,900              12,900              13,200              13,200              13,596              13,596              13,596              13,596              13,596              13,696              13,696              13,696              13,696              13,696              13,696              13,696              14,108              14,108              14,108              14,108              14,108              14,208              14,208              14,208              14,208              14,208              14,208              14,208              14,636              14,636              14,636              14,636              14,636              14,636              14,636              14,636                14,636                14,636                14,636                14,636                13,400                13,400                13,400                13,400                13,400                13,400                13,400                13,400                13,400                13,400                13,400                13,400
                                                                                                                         
Total G&A            132,327            150,694            176,642            195,838            202,642            203,501               211,436                211,275            206,082            216,642            216,479            311,102            221,272            221,490            221,714            221,942            222,176            223,223            223,437            223,656            223,878            224,105            224,336            320,446            232,448            232,693            232,942            233,196            233,456            234,537            234,765            234,998            235,234            243,348            241,623            336,761            248,145            248,518            248,899            249,288            249,684            250,088            256,333            254,710              251,119              251,474              251,835              348,076              259,249              259,628              260,013              266,310              265,232              264,898              264,416              264,764              265,118              265,478              265,844              362,091
Total Expenses            138,327            160,694            216,912            250,234            314,600            362,168            1,027,477                794,611            576,915         1,299,975         1,066,854         1,142,415            816,347            836,815            858,099            880,229            903,242            929,979            949,750            972,281            995,596         1,019,724         1,044,693         1,279,907         1,108,906         1,136,578         1,165,214         1,194,849         1,225,518         1,260,072         1,286,222         1,315,214         1,345,072         2,143,072         1,982,928         2,129,013         1,869,492         1,919,392         1,970,938         2,024,184         2,079,189         2,136,010         2,761,128         2,620,589           2,289,295           2,343,301           2,398,833           2,665,311           2,525,696           2,586,079           2,648,174           3,287,469           3,209,280           3,204,888           3,172,002           3,223,335           3,275,956           3,329,906           3,385,225           3,651,331
gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM
Cash Cash Cash Cash Cash
Period Year 1 Month 1 Year 1 Month 2 Year 1 Month 3 Year 1 Month 4 Year 1 Month 5 Year 1 Month 6 Year 1 Month 7 Year 1 Month 8 Year 1 Month 9 Year 1 Month 10 Year 1 Month 11 Year 1 Month 12 Year 2 Month 1 Year 2 Month 2 Year 2 Month 3 Year 2 Month 4 Year 2 Month 5 Year 2 Month 6 Year 2 Month 7 Year 2 Month 8 Year 2 Month 9 Year 2 Month 10 Year 2 Month 11 Year 2 Month 12 Year 3  Month 1 Year 3  Month 2 Year 3  Month 3 Year 3  Month 4 Year 3  Month 5 Year 3  Month 6 Year 3  Month 7 Year 3  Month 8 Year 3  Month 9 Year 3  Month 10 Year 3  Month 11 Year 3  Month 12 Year 4  Month 1 Year 4  Month 2 Year 4  Month 3 Year 4  Month 4 Year 4  Month 5 Year 4  Month 6 Year 4  Month 7 Year 4  Month 8 Year 4  Month 9 Year 4  Month 10 Year 4  Month 11 Year 4  Month 12 Year 5  Month 1 Year 5  Month 2 Year 5  Month 3 Year 5  Month 4 Year 5  Month 5 Year 5  Month 6 Year 5  Month 7 Year 5  Month 8 Year 5  Month 9 Year 5  Month 10 Year 5  Month 11 Year 5  Month 12
Cash Sales
Registration Revenue (Cash) #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Cash Outlays
Capital Expenditures           (185,000)           (334,000)             (74,000)             (28,000)             (28,000)                    -                         -                          -               (21,000)                    -                      -                      -                      -                      -                (3,500)             (17,000)                    -               (50,000)                    -                      -                      -                      -             (300,000)                    -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -             (100,000)                    -                      -                      -                      -                      -                      -                      -                        -                        -                        -                        -               (100,000)                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -  
Core Registry Fee (Cash)                    -                      -                      -                      -                      -                      -             (2,160,000)            (1,440,720)                    -          (1,890,000)        (1,417,500)        (1,181,250)           (945,000)           (982,800)        (1,022,112)        (1,062,996)        (1,105,516)        (1,149,737)        (1,189,978)        (1,231,627)        (1,274,734)        (1,319,350)        (1,365,527)        (1,413,320)        (1,462,787)        (1,513,984)        (1,566,974)        (1,621,818)        (1,678,581)        (1,737,332)        (1,789,451)        (1,843,135)        (1,898,429)        (3,372,882)        (3,077,168)        (2,960,402)        (2,845,449)        (2,937,900)        (3,033,408)        (3,132,076)        (3,234,010)        (3,339,322)        (4,494,553)        (4,235,243)          (3,623,529)          (3,723,678)          (3,826,665)          (3,932,573)          (4,041,488)          (4,153,496)          (4,268,688)          (5,450,282)          (5,306,344)          (5,298,767)          (5,238,280)          (5,333,451)          (5,431,018)          (5,531,052)          (5,633,632)          (5,738,834)
Systems Development & Support              (6,000)             (10,000)             (16,000)             (12,000)              (8,000)              (2,000)                         -                  (6,000)                      -                      -              (6,000)                      -                      -                      -                      -                      -                      -              (2,000)                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -              (2,000)                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -
Customer Service                    -                      -                (3,646)             (21,771)             (33,333)             (36,042)                (36,042)                 (42,396)             (42,396)             (42,396)             (48,750)           (112,813)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)             (50,944)           (115,006)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)             (53,236)           (117,299)             (55,632)             (55,632)             (55,632)             (55,632)             (55,632)             (55,632)             (55,632)             (55,632)               (55,632)               (55,632)               (55,632)             (119,694)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)               (58,135)             (122,198)
Marketing                    -                      -               (20,625)             (20,625)             (70,625)           (120,625)              (780,000)               (534,941)           (328,438)        (1,040,938)           (795,625)           (718,500)           (544,131)           (564,381)           (585,441)           (607,344)           (630,122)           (653,812)           (675,369)           (697,681)           (720,774)           (744,676)           (769,414)           (844,455)           (823,222)           (850,649)           (879,036)           (908,417)           (938,826)           (970,299)           (998,221)        (1,026,980)        (1,056,601)        (1,846,487)        (1,688,069)        (1,674,953)        (1,565,715)        (1,615,242)        (1,666,407)        (1,719,265)        (1,773,873)        (1,830,290)        (2,449,164)        (2,310,247)          (1,982,544)          (2,036,195)          (2,091,366)          (2,197,540)          (2,208,311)          (2,268,316)          (2,330,026)          (2,963,023)          (2,885,913)          (2,881,854)          (2,849,450)          (2,900,435)          (2,952,703)          (3,006,293)          (3,061,246)          (3,167,042)
G&A           (132,327)           (150,694)           (176,642)           (195,838)           (202,642)           (203,501)              (211,436)               (211,275)           (206,082)           (216,642)           (216,479)           (311,102)           (221,272)           (221,490)           (221,714)           (221,942)           (222,176)           (223,223)           (223,437)           (223,656)           (223,878)           (224,105)           (224,336)           (320,446)           (232,448)           (232,693)           (232,942)           (233,196)           (233,456)           (234,537)           (234,765)           (234,998)           (235,234)           (243,348)           (241,623)           (336,761)           (248,145)           (248,518)           (248,899)           (249,288)           (249,684)           (250,088)           (256,333)           (254,710)             (251,119)             (251,474)             (251,835)             (348,076)             (259,249)             (259,628)             (260,013)             (266,310)             (265,232)             (264,898)             (264,416)             (264,764)             (265,118)             (265,478)             (265,844)             (362,091)
R&D #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Total #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Interest* 6%                    -   #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Rebates #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
                                                                                                                       
Net Cash from Operating Before Taxes #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Cumulative Cash Balance After Disbursements #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Debt Balance                    -                      -                      -                      -                      -                      -                         -                          -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -  
*Function as percent of previous period Cash Balance After Debt & Equity Financing and Disbursements Debt Balance.                                                                                                                    
Financing
Debt
Equity
Cash Balance
ST Investments
Cash
                                                                                                                                   
Year 1 Year 2 Year 3 Year 4 Year 5
Period 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
Beginning Cash Balance & Additional Cash 1,003,111
Cash from Registrations less associated operational costs                    -                      -                      -                      -                      -                      -              3,726,000             2,485,242                    -           3,260,250         2,445,188         2,037,656         1,630,125         1,695,330         1,763,143         1,833,669         1,907,016         1,983,296         2,052,712         2,124,557         2,198,916         2,275,878         2,355,534         2,437,978         2,523,307         2,611,623         2,703,029         2,797,635         2,895,553         2,996,897         3,086,804         3,179,408         3,274,790         4,714,596         4,480,397         4,416,928         4,356,586         4,493,992         4,635,788         4,782,117         4,933,125         5,088,966         6,230,523         6,034,524           5,506,235           5,652,939           5,803,627           5,958,411           6,117,403           6,280,721           6,448,486           7,626,993           7,552,482           7,608,572           7,577,262           7,693,531           7,812,328           7,933,726           8,057,800           8,184,627
Cash Expenses            138,327            160,694            216,912            250,234            314,600            362,168            1,027,477                794,611            576,915         1,299,975         1,066,854         1,142,415            816,347            836,815            858,099            880,229            903,242            929,979            949,750            972,281            995,596         1,019,724         1,044,693         1,279,907         1,108,906         1,136,578         1,165,214         1,194,849         1,225,518         1,260,072         1,286,222         1,315,214         1,345,072         2,143,072         1,982,928         2,129,013         1,869,492         1,919,392         1,970,938         2,024,184         2,079,189         2,136,010         2,761,128         2,620,589           2,289,295           2,343,301           2,398,833           2,665,311           2,525,696           2,586,079           2,648,174           3,287,469           3,209,280           3,204,888           3,172,002           3,223,335           3,275,956           3,329,906           3,385,225           3,651,331
Net Increase/(Decrease) in Cash           (138,327)           (160,694)           (216,912)           (250,234)           (314,600)           (362,168)            2,698,523             1,690,631           (576,915)         1,960,275         1,378,333            895,241            813,778            858,515            905,045            953,440         1,003,774         1,053,318         1,102,961         1,152,276         1,203,320         1,256,154         1,310,841         1,158,070         1,414,401         1,475,045         1,537,815         1,602,786         1,670,035         1,736,825         1,800,581         1,864,194         1,929,719         2,571,525         2,497,469         2,287,915         2,487,095         2,574,600         2,664,850         2,757,932         2,853,937         2,952,956         3,469,395         3,413,935           3,216,940           3,309,638           3,404,794           3,293,100           3,591,707           3,694,642           3,800,312           4,339,524           4,343,202           4,403,685           4,405,260           4,470,196           4,536,372           4,603,820           4,672,575           4,533,296
Ending Cash Balance $864,784 $704,090 $487,178 $236,944 ($77,656) ($439,824) $2,258,698 $3,949,329 $3,372,413 $5,332,688 $6,711,021 $7,606,263 $8,420,041 $9,278,556 $10,183,600 $11,137,040 $12,140,814 $13,194,131 $14,297,093 $15,449,368 $16,652,688 $17,908,842 $19,219,683 $20,377,753 $21,792,154 $23,267,199 $24,805,014 $26,407,800 $28,077,835 $29,814,659 $31,615,241 $33,479,435 $35,409,154 $37,980,678 $40,478,147 $42,766,062 $45,253,157 $47,827,757 $50,492,606 $53,250,539 $56,104,475 $59,057,432 $62,526,827 $65,940,761 $69,157,701 $72,467,339 $75,872,133 $79,165,233 $82,756,940 $86,451,582 $90,251,894 $94,591,418 $98,934,621 $103,338,305 $107,743,565 $112,213,761 $116,750,133 $121,353,954 $126,026,529 $130,559,825
                                                                                                                                   

[1]

starts 2 yrs. After initial rollout