Statement of Projected Cash Flow
                      -                          -  
CONFIDENCE LEVEL 50%
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 225,000 150,075 0 300,000 225,000 187,500 150,000 154,500 159,135 163,909 168,826 173,891 178,238 182,694 187,262 191,943 196,742 201,660 206,702 211,869 217,166 222,595 228,160 233,864 238,541 243,312 248,179 253,142 258,205 263,369 268,636 274,009 279,489 285,079 290,781 296,596 301,045 305,561 310,144 314,797 319,519 324,311 329,176 334,114 339,125 344,212 349,375 354,616 356,389 358,171 359,962 361,762 363,571 365,388
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 0 225,000 168,750 140,625 112,500 115,875 119,351 122,932 126,620 130,418 302,429 249,577 140,446 143,957 147,556 151,245 155,026 158,902 162,875 166,946 171,120 175,398 178,906 182,484 186,134 189,857 193,654 197,527
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 0 168,750 126,563 105,469 84,375 86,906 89,513 92,199 94,965 97,814
Sales + Renewals 225,000 150,075 0 300,000 225,000 187,500 150,000 154,500 159,135 163,909 168,826 173,891 178,238 182,694 187,262 191,943 196,742 201,660 206,702 211,869 217,166 222,595 228,160 233,864 238,541 243,312 248,179 478,142 426,955 403,994 381,136 389,884 398,841 408,011 417,400 427,015 603,474 555,138 450,591 458,754 467,075 475,557 484,202 493,016 502,000 679,909 647,058 635,483 619,670 627,562 635,609 643,817 652,189 660,729
Cummulative Under Management 225,000 375,075 0 675,075 900,075 1,087,575 1,237,575 1,392,075 1,551,210 1,715,119 1,883,945 2,057,836 2,236,075 2,418,769 2,606,031 2,797,974 2,994,716 3,196,376 3,403,078 3,614,948 3,832,114 4,054,709 4,282,869 4,516,734 4,755,275 4,998,587 5,246,766 5,724,908 6,151,863 6,555,857 6,936,994 7,326,878 7,725,719 8,133,729 8,551,130 8,978,145 9,581,619 10,136,757 10,587,347 11,046,101 11,513,176 11,988,733 12,472,935 12,965,951 13,467,951 14,147,860 14,794,918 15,430,401 16,050,071 16,677,632 17,313,242 17,957,059 18,609,248 19,269,977
Cash from New Registrations + Renewals 3,924,000 2,617,308 0 3,433,500 2,575,125 2,145,938 1,716,750 1,768,253 1,821,300 1,875,939 1,932,217 1,990,184 2,039,938 2,090,937 2,143,210 2,196,790 2,251,710 2,308,003 2,365,703 2,424,846 2,485,467 2,547,603 2,611,294 2,676,576 2,730,107 2,784,710 2,840,404 4,736,587 4,334,687 4,163,869 3,994,232 4,083,313 4,174,452 4,267,698 4,363,102 4,460,715 5,917,819 5,537,438 4,697,751 4,779,699 4,863,163 4,948,173 5,034,760 5,122,955 5,212,789 6,683,827 6,432,157 6,354,667 6,231,196 6,301,535 6,373,181 6,446,166 6,520,521 6,596,279
Registry Cash Expenses- Based on fees paid to outsouced service providers and internal expenses 1,440,000 960,480 0 1,260,000 945,000 787,500 630,000 648,900 668,367 688,418 709,071 730,343 748,601 767,316 786,499 806,162 826,316 846,974 868,148 889,852 912,098 934,900 958,273 982,230 1,001,874 1,021,912 1,042,350 2,008,197 1,793,211 1,696,775 1,600,773 1,637,514 1,675,131 1,713,646 1,753,082 1,793,462 2,534,591 2,331,580 1,892,481 1,926,767 1,961,715 1,997,338 2,033,650 2,070,666 2,108,400 2,855,616 2,717,644 2,669,028 2,602,615 2,635,758 2,669,559 2,704,032 2,739,194 2,775,061
Total Registry Operational Cash 2,484,000 1,656,828 0 2,173,500 1,630,125 1,358,438 1,086,750 1,119,353 1,152,933 1,187,521 1,223,147 1,259,841 1,291,337 1,323,621 1,356,711 1,390,629 1,425,395 1,461,029 1,497,555 1,534,994 1,573,369 1,612,703 1,653,021 1,694,346 1,728,233 1,762,798 1,798,054 2,728,390 2,541,476 2,467,093 2,393,459 2,445,800 2,499,322 2,554,052 2,610,020 2,667,254 3,383,228 3,205,858 2,805,270 2,852,932 2,901,448 2,950,835 3,001,110 3,052,289 3,104,390 3,828,211 3,714,513 3,685,639 3,628,581 3,665,776 3,703,622 3,742,134 3,781,327 3,821,217
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                    -                      -                      -                      -                      -                      -                 225,000                150,075                    -              300,000            225,000            187,500            150,000            154,500            159,135            163,909            168,826            173,891            178,238            182,694            187,262            191,943            196,742            201,660            206,702            211,869            217,166            222,595            228,160            233,864            238,541            243,312            248,179            478,142            426,955            403,994            381,136            389,884            398,841            408,011            417,400            427,015            603,474            555,138              450,591              458,754              467,075              475,557              484,202              493,016              502,000              679,909              647,058              635,483              619,670              627,562              635,609              643,817              652,189              660,729
Co-op Advertising                    -                      -                      -                      -                      -                      -                   56,250                  37,519                    -                75,000              56,250              46,875              37,500              38,625              39,784              40,977              42,207              43,473              44,560              45,674              46,815              47,986              49,185              50,415              51,675              52,967              54,292              55,649              57,040              58,466              59,635              60,828              62,045            119,536            106,739            100,999              95,284              97,471              99,710            102,003            104,350            106,754            150,869            138,785              112,648              114,689              116,769              118,889              121,051              123,254              125,500              169,977              161,765              158,871              154,918              156,890              158,902              160,954              163,047              165,182
Production                    -                      -                      -                      -                      -                      -                   45,000                  30,015                    -                60,000              45,000              37,500              30,000              30,900              31,827              32,782              33,765              34,778              35,648              36,539              37,452              38,389              39,348              40,332              41,340              42,374              43,433              44,519              45,632              46,773              47,708              48,662              49,636              95,628              85,391              80,799              76,227              77,977              79,768              81,602              83,480              85,403            120,695            111,028                90,118                91,751                93,415                95,111                96,840                98,603              100,400              135,982              129,412              127,097              123,934              125,512              127,122              128,763              130,438              132,146
Research                    -                      -                      -                      -                      -                      -                   22,500                  15,008                    -                30,000              22,500              18,750              15,000              15,450              15,914              16,391              16,883              17,389              17,824              18,269              18,726              19,194              19,674              20,166              20,670              21,187              21,717              22,260              22,816              23,386              23,854              24,331              24,818              47,814              42,695              40,399              38,114              38,988              39,884              40,801              41,740              42,701              60,347              55,514                45,059                45,875                46,707                47,556                48,420                49,302                50,200                67,991                64,706                63,548                61,967                62,756                63,561                64,382                65,219                66,073
Agency Fee                    -                      -                      -                      -                25,000              50,000                 45,000                  30,015                    -                60,000              45,000              37,500              30,000              30,900              31,827              32,782              33,765              34,778              35,648              36,539              37,452              38,389              39,348              40,332              41,340              42,374              43,433              44,519              45,632              46,773              47,708              48,662              49,636              95,628              85,391              80,799              76,227              77,977              79,768              81,602              83,480              85,403            120,695            111,028                90,118                91,751                93,415                95,111                96,840                98,603              100,400              135,982              129,412              127,097              123,934              125,512              127,122              128,763              130,438              132,146
Public Relations                      -                      -                      -                      -                25,000              50,000               112,500                  75,038            150,000            150,000            112,500              93,750              75,000              77,250              79,568              81,955              84,413              86,946              89,119              91,347              93,631              95,972              98,371            100,830            103,351            105,935            108,583            111,298            114,080            116,932            119,271            121,656            124,089            239,071            213,477            201,997            190,568            194,942            199,420            204,005            208,700            213,507            301,737            277,569              225,295              229,377              233,537              237,778              242,101              246,508              251,000              339,954              323,529              317,741              309,835              313,781              317,805              321,909              326,095              330,364  
Total Marketing & Sales                    -                      -                20,625              20,625              70,625            120,625               526,875                366,106            178,438            703,438            542,500            507,563            375,381            385,506            395,935            406,677            417,740            429,136            438,918            448,944            459,220            469,754            480,550            541,055            504,665            516,292            528,210            540,425            552,946            565,780            576,304            587,039            597,988         1,115,406         1,000,235            998,010            898,924            918,607            938,759            959,392            980,518         1,002,150         1,399,184         1,290,428           1,055,196           1,073,564           1,092,286           1,160,807           1,132,684           1,152,514           1,172,729           1,573,023           1,499,109           1,473,065           1,437,487           1,455,242           1,473,350           1,491,817           1,510,654           1,579,306
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               774,352                625,777            426,915            962,475            813,729            931,477            647,597            657,940            668,592            679,562            690,860            705,303            713,299            723,543            734,042            744,802            755,830            976,507            790,349            802,221            814,388            826,858            839,638            855,553            864,306            875,273            886,458         1,411,990         1,295,094         1,452,070         1,202,701         1,222,757         1,243,290         1,264,311         1,285,834         1,307,871         1,711,149         1,600,769           1,361,948           1,380,670           1,399,753           1,628,578           1,450,069           1,470,277           1,490,877           1,897,469           1,822,476           1,796,099           1,760,038           1,778,142           1,796,603           1,815,431           1,834,633           2,063,595
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)                    -                      -                      -                      -                      -                      -             (1,440,000)               (960,480)                    -          (1,260,000)           (945,000)           (787,500)           (630,000)           (648,900)           (668,367)           (688,418)           (709,071)           (730,343)           (748,601)           (767,316)           (786,499)           (806,162)           (826,316)           (846,974)           (868,148)           (889,852)           (912,098)           (934,900)           (958,273)           (982,230)        (1,001,874)        (1,021,912)        (1,042,350)        (2,008,197)        (1,793,211)        (1,696,775)        (1,600,773)        (1,637,514)        (1,675,131)        (1,713,646)        (1,753,082)        (1,793,462)        (2,534,591)        (2,331,580)          (1,892,481)          (1,926,767)          (1,961,715)          (1,997,338)          (2,033,650)          (2,070,666)          (2,108,400)          (2,855,616)          (2,717,644)          (2,669,028)          (2,602,615)          (2,635,758)          (2,669,559)          (2,704,032)          (2,739,194)          (2,775,061)
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)              (526,875)               (366,106)           (178,438)           (703,438)           (542,500)           (507,563)           (375,381)           (385,506)           (395,935)           (406,677)           (417,740)           (429,136)           (438,918)           (448,944)           (459,220)           (469,754)           (480,550)           (541,055)           (504,665)           (516,292)           (528,210)           (540,425)           (552,946)           (565,780)           (576,304)           (587,039)           (597,988)        (1,115,406)        (1,000,235)           (998,010)           (898,924)           (918,607)           (938,759)           (959,392)           (980,518)        (1,002,150)        (1,399,184)        (1,290,428)          (1,055,196)          (1,073,564)          (1,092,286)          (1,160,807)          (1,132,684)          (1,152,514)          (1,172,729)          (1,573,023)          (1,499,109)          (1,473,065)          (1,437,487)          (1,455,242)          (1,473,350)          (1,491,817)          (1,510,654)          (1,579,306)
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                    -                      -                      -                      -                      -                      -              2,484,000             1,656,828                    -           2,173,500         1,630,125         1,358,438         1,086,750         1,119,353         1,152,933         1,187,521         1,223,147         1,259,841         1,291,337         1,323,621         1,356,711         1,390,629         1,425,395         1,461,029         1,497,555         1,534,994         1,573,369         1,612,703         1,653,021         1,694,346         1,728,233         1,762,798         1,798,054         2,728,390         2,541,476         2,467,093         2,393,459         2,445,800         2,499,322         2,554,052         2,610,020         2,667,254         3,383,228         3,205,858           2,805,270           2,852,932           2,901,448           2,950,835           3,001,110           3,052,289           3,104,390           3,828,211           3,714,513           3,685,639           3,628,581           3,665,776           3,703,622           3,742,134           3,781,327           3,821,217
Cash Expenses            138,327            160,694            216,912            250,234            314,600            362,168               774,352                625,777            426,915            962,475            813,729            931,477            647,597            657,940            668,592            679,562            690,860            705,303            713,299            723,543            734,042            744,802            755,830            976,507            790,349            802,221            814,388            826,858            839,638            855,553            864,306            875,273            886,458         1,411,990         1,295,094         1,452,070         1,202,701         1,222,757         1,243,290         1,264,311         1,285,834         1,307,871         1,711,149         1,600,769           1,361,948           1,380,670           1,399,753           1,628,578           1,450,069           1,470,277           1,490,877           1,897,469           1,822,476           1,796,099           1,760,038           1,778,142           1,796,603           1,815,431           1,834,633           2,063,595
Net Increase/(Decrease) in Cash           (138,327)           (160,694)           (216,912)           (250,234)           (314,600)           (362,168)            1,709,648             1,031,051           (426,915)         1,211,025            816,396            426,960            439,153            461,412            484,341            507,959            532,287            554,538            578,038            600,078            622,669            645,827            669,565            484,522            707,206            732,773            758,981            785,845            813,382            838,793            863,927            887,525            911,596         1,316,399         1,246,382         1,015,024         1,190,757         1,223,043         1,256,032         1,289,741         1,324,186         1,359,383         1,672,079         1,605,089           1,443,323           1,472,262           1,501,696           1,322,258           1,551,041           1,582,012           1,613,513           1,930,742           1,892,037           1,889,540           1,868,543           1,887,634           1,907,019           1,926,703           1,946,694           1,757,622
Ending Cash Balance $864,784 $704,090 $487,178 $236,944 ($77,656) ($439,824) $1,269,823 $2,300,874 $1,873,959 $3,084,984 $3,901,379 $4,328,339 $4,767,492 $5,228,905 $5,713,245 $6,221,204 $6,753,491 $7,308,029 $7,886,067 $8,486,145 $9,108,814 $9,754,641 $10,424,205 $10,908,728 $11,615,933 $12,348,707 $13,107,687 $13,893,532 $14,706,915 $15,545,708 $16,409,635 $17,297,160 $18,208,756 $19,525,155 $20,771,538 $21,786,562 $22,977,319 $24,200,362 $25,456,394 $26,746,135 $28,070,321 $29,429,704 $31,101,783 $32,706,872 $34,150,194 $35,622,456 $37,124,152 $38,446,410 $39,997,451 $41,579,463 $43,192,975 $45,123,717 $47,015,754 $48,905,294 $50,773,837 $52,661,472 $54,568,490 $56,495,194 $58,441,887 $60,199,509
                                                                                                                                   

[1]

starts 2 yrs. After initial rollout