10% CONFIDENCE LEVEL	Source	Dest	Sub Term	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
NEW REGISTRATIONS REVENUE WATERFALL
Sales Dollars
Term 1 Sales Dollars			Sub Term	-	-	-	-	-	-	-	-	-	14,490,000	9,660,000	6,037,500	4,830,000	5,119,800	5,426,988	5,752,602	6,097,754	6,463,615	6,592,890	6,724,749	6,859,240	6,996,424	7,136,349	7,279,076	7,424,652	7,573,150	7,724,619	7,879,107	8,036,685	8,197,416	8,279,393	8,362,191	8,445,810	8,530,263	8,615,561	8,701,716	8,788,728	8,876,610	8,965,374	9,055,030	9,145,581	9,237,037	9,329,411	9,422,702	9,516,923	9,612,098	9,708,215	9,805,298	9,903,347	10,002,387	10,102,416	10,203,435	10,305,469	10,408,529	10,512,616	10,617,741	10,723,916	10,831,154	10,939,467	11,048,867
Revenue Layer			2.1	-	-	-	-	-	-	-	-	-	575,000	383,333	239,583	191,667	203,167	215,357	228,278	241,974	256,493	261,623	266,855	272,192	277,636	283,188	288,852	294,629	300,522	306,533	312,663	318,916	325,294	328,547	331,833	335,151	338,503	341,887	345,306	348,759	352,246	355,769	359,327	362,920	366,549	370,215	373,917	377,656	381,432	385,247	389,099	392,990	396,920	400,890	404,898	408,947	413,037	417,167	421,339	425,552	429,808	434,106	438,447
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													575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 11														383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 12															239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 1																191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 2																	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 3																		215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 4																			228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 5																				241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 6																					256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 7																						261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 8																							266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 9																								272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 10																									277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 11																										283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 12																											288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 1																												294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	-	-	-	-	-	-	-	-	-	-
Year 3  Month 2																													300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	-	-	-	-	-	-	-	-	-
Year 3  Month 3																														306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	-	-	-	-	-	-	-	-
Year 3  Month 4																															312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	312,663	-	-	-	-	-	-	-
Year 3  Month 5																																318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	318,916	-	-	-	-	-	-
Year 3  Month 6																																	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	325,294	-	-	-	-	-
Year 3  Month 7																																		328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	328,547	-	-	-	-
Year 3  Month 8																																			331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	331,833	-	-	-
Year 3  Month 9																																				335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	335,151	-	-
Year 3  Month 10																																					338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	338,503	-
Year 3  Month 11																																						341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887	341,887
Year 3  Month 12																																							345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306	345,306
Year 4  Month 1																																								348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759	348,759
Year 4  Month 2																																									352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246	352,246
Year 4  Month 3																																										355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769	355,769
Year 4  Month 4																																											359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327	359,327
Year 4  Month 5																																												362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920	362,920
Year 4  Month 6																																													366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549	366,549
Year 4  Month 7																																														370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215	370,215
Year 4  Month 8																																															373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917	373,917
Year 4  Month 9																																																377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656	377,656
Year 4  Month 10																																																	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432	381,432
Year 4  Month 11																																																		385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247	385,247
Year 4  Month 12																																																			389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099	389,099
Year 5  Month 1																																																				392,990	392,990	392,990	392,990	392,990	392,990	392,990	392,990	392,990	392,990	392,990	392,990
Year 5  Month 2																																																					396,920	396,920	396,920	396,920	396,920	396,920	396,920	396,920	396,920	396,920	396,920
Year 5  Month 3																																																						400,890	400,890	400,890	400,890	400,890	400,890	400,890	400,890	400,890	400,890
Year 5  Month 4																																																							404,898	404,898	404,898	404,898	404,898	404,898	404,898	404,898	404,898
Year 5  Month 5																																																								408,947	408,947	408,947	408,947	408,947	408,947	408,947	408,947
Year 5  Month 6																																																									413,037	413,037	413,037	413,037	413,037	413,037	413,037
Year 5  Month 7																																																										417,167	417,167	417,167	417,167	417,167	417,167
Year 5  Month 8																																																											421,339	421,339	421,339	421,339	421,339
Year 5  Month 9																																																												425,552	425,552	425,552	425,552
Year 5  Month 10																																																													429,808	429,808	429,808
Year 5  Month 11																																																														434,106	434,106
Year 5  Month 12																																																															438,447
Total Recognized				-	-	-	-	-	-	-	-	-	575,000	958,333	1,197,917	1,389,583	1,592,750	1,808,107	2,036,385	2,278,359	2,534,852	2,796,474	3,063,329	3,335,521	3,613,157	3,896,346	4,185,198	4,479,827	4,780,349	5,086,881	5,399,544	5,718,460	6,043,755	6,372,302	6,704,135	7,039,286	7,377,789	7,719,676	7,489,982	7,455,408	7,568,071	7,732,173	7,888,333	8,035,896	8,174,167	8,302,408	8,419,832	8,535,865	8,650,442	8,763,497	8,874,960	8,984,762	9,092,830	9,199,090	9,303,466	9,405,881	9,506,255	9,604,506	9,700,551	9,797,556	9,895,531	9,994,485	10,094,430
In Period Deferred Contribution				-	-	-	-	-	-	-	-	-	13,915,000	8,701,667	4,839,583	3,440,417	3,527,050	3,618,881	3,716,218	3,819,395	3,928,763	3,796,415	3,661,419	3,523,719	3,383,267	3,240,003	3,093,878	2,944,825	2,792,801	2,637,738	2,479,562	2,318,225	2,153,661	1,907,091	1,658,056	1,406,524	1,152,474	895,885	1,211,734	1,333,321	1,308,539	1,233,200	1,166,697	1,109,685	1,062,869	1,027,003	1,002,870	981,058	961,656	944,719	930,338	918,586	909,557	903,326	899,969	899,588	902,274	908,109	917,190	926,360	935,624	944,982	954,437
Deferred Balance				-	-	-	-	-	-	-	-	-	13,915,000	22,616,667	27,456,250	30,896,667	34,423,717	38,042,598	41,758,816	45,578,211	49,506,974	53,303,390	56,964,809	60,488,528	63,871,795	67,111,798	70,205,676	73,150,501	75,943,302	78,581,040	81,060,602	83,378,827	85,532,488	87,439,579	89,097,636	90,504,160	91,656,634	92,552,519	93,764,253	95,097,574	96,406,113	97,639,313	98,806,011	99,915,695	100,978,565	102,005,568	103,008,438	103,989,496	104,951,153	105,895,871	106,826,209	107,744,795	108,654,352	109,557,678	110,457,647	111,357,235	112,259,509	113,167,619	114,084,809	115,011,169	115,946,793	116,891,774	117,846,211
RENEWALS REVENUE WATERFALL
Sales Dollars
Term 1 Sales Dollars			Sub Term	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,350,000	6,900,000	4,312,500	3,450,000	3,657,000	3,876,420	4,109,002	4,355,539	4,616,868	4,709,207	4,803,392	4,899,457	4,997,446	5,097,392	5,199,340	5,303,323	5,409,393	5,517,585	13,907,933	11,260,490	9,305,297	8,673,852	8,898,594	9,133,858	9,380,246	9,638,403
Revenue Layer			1.5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	575,000	383,333	239,583	191,667	203,167	215,357	228,278	241,974	256,493	261,623	266,855	272,192	277,636	283,188	288,852	294,629	300,522	306,533	772,663	625,583	516,961	481,881	494,366	507,437	521,125	535,467
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																																						575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	575,000	-	-	-	-	-	-	-	-
Year 3  Month 12																																							383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	383,333	-	-	-	-	-	-	-
Year 4  Month 1																																								239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	239,583	-	-	-	-	-	-
Year 4  Month 2																																									191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	191,667	-	-	-	-	-
Year 4  Month 3																																										203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	203,167	-	-	-	-
Year 4  Month 4																																											215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	215,357	-	-	-
Year 4  Month 5																																												228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	228,278	-	-
Year 4  Month 6																																													241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	241,974	-
Year 4  Month 7																																														256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493	256,493
Year 4  Month 8																																															261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623	261,623
Year 4  Month 9																																																266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855	266,855
Year 4  Month 10																																																	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192	272,192
Year 4  Month 11																																																		277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636	277,636
Year 4  Month 12																																																			283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188	283,188
Year 5  Month 1																																																				288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852	288,852
Year 5  Month 2																																																					294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629	294,629
Year 5  Month 3																																																						300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522	300,522
Year 5  Month 4																																																							306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533	306,533
Year 5  Month 5																																																								772,663	772,663	772,663	772,663	772,663	772,663	772,663	772,663
Year 5  Month 6																																																									625,583	625,583	625,583	625,583	625,583	625,583	625,583
Year 5  Month 7																																																										516,961	516,961	516,961	516,961	516,961	516,961
Year 5  Month 8																																																											481,881	481,881	481,881	481,881	481,881
Year 5  Month 9																																																												494,366	494,366	494,366	494,366
Year 5  Month 10																																																													507,437	507,437	507,437
Year 5  Month 11																																																														521,125	521,125
Year 5  Month 12																																																															535,467
Total Recognized				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	575,000	958,333	1,197,917	1,389,583	1,592,750	1,808,107	2,036,385	2,278,359	2,534,852	2,796,474	3,063,329	3,335,521	3,613,157	3,896,346	4,185,198	4,479,827	4,780,349	5,086,881	5,284,544	5,526,794	5,804,171	6,094,385	6,385,585	6,677,665	6,970,512	7,264,004
In Period Deferred Contribution				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,775,000	5,941,667	3,114,583	2,060,417	2,064,250	2,068,313	2,072,617	2,077,180	2,082,016	1,912,733	1,740,063	1,563,936	1,384,289	1,201,047	1,014,142	823,496	629,044	430,704	8,623,389	5,733,696	3,501,126	2,579,467	2,513,009	2,456,193	2,409,735	2,374,399
Deferred Balance				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,775,000	15,716,667	18,831,250	20,891,667	22,955,917	25,024,230	27,096,847	29,174,027	31,256,043	33,168,776	34,908,838	36,472,774	37,857,063	39,058,109	40,072,251	40,895,747	41,524,791	41,955,495	50,578,884	56,312,580	59,813,706	62,393,172	64,906,181	67,362,374	69,772,109	72,146,508
SUNRISE PERIOD REVENUE WATERFALL
Sales Dollars
Sunrise Period Sales Dollars			Sub Term	-	-	-	-	-	-	16,428,584	12,321,416	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Layer			5.0 Years	-	-	-	-	-	-	273,810	205,357	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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										273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810	273,810
Year 1  Month 8											205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357	205,357
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 3																													-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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																																																															-
Total Recognized				-	-	-	-	-	-	273,810	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167	479,167
In Period Deferred Contribution				-	-	-	-	-	-	16,154,774	11,842,250	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)	(479,167)
Deferred Balance				-	-	-	-	-	-	16,154,774	27,997,024	27,517,857	27,038,690	26,559,524	26,080,357	25,601,190	25,122,024	24,642,857	24,163,690	23,684,524	23,205,357	22,726,190	22,247,024	21,767,857	21,288,690	20,809,524	20,330,357	19,851,190	19,372,024	18,892,857	18,413,690	17,934,524	17,455,357	16,976,190	16,497,024	16,017,857	15,538,690	15,059,524	14,580,357	14,101,190	13,622,024	13,142,857	12,663,690	12,184,524	11,705,357	11,226,190	10,747,024	10,267,857	9,788,690	9,309,524	8,830,357	8,351,190	7,872,024	7,392,857	6,913,690	6,434,524	5,955,357	5,476,190	4,997,024	4,517,857	4,038,690	3,559,524	3,080,357
TRANSFERS INCREMENTAL REVENUE WATERFALL
Sales Dollars
Transfers Incremental Sales Dollars			Sub Term	-	-	-	-	-	-	32,857	24,643	-	69,000	46,000	28,750	23,000	24,380	25,843	27,393	29,037	30,779	31,395	32,023	32,663	33,316	33,983	34,662	35,355	36,063	36,784	37,520	38,270	39,035	39,426	39,820	40,218	40,620	41,026	41,437	41,851	42,270	42,692	43,119	43,550	43,986	44,426	44,870	45,319	45,772	46,230	46,692	47,159	47,630	48,107	48,588	49,074	49,564	50,060	50,561	51,066	51,577	52,093	52,614
Revenue Layer			0.5 Years	-	-	-	-	-	-	5,476	4,107	-	11,500	7,667	4,792	3,833	4,063	4,307	4,566	4,839	5,130	5,232	5,337	5,444	5,553	5,664	5,777	5,893	6,010	6,131	6,253	6,378	6,506	6,571	6,637	6,703	6,770	6,838	6,906	6,975	7,045	7,115	7,187	7,258	7,331	7,404	7,478	7,553	7,629	7,705	7,782	7,860	7,938	8,018	8,098	8,179	8,261	8,343	8,427	8,511	8,596	8,682	8,769
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										5,476	5,476	5,476	5,476	5,476	5,476	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 8											4,107	4,107	4,107	4,107	4,107	4,107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 9												-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 10													11,500	11,500	11,500	11,500	11,500	11,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 11														7,667	7,667	7,667	7,667	7,667	7,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 1  Month 12															4,792	4,792	4,792	4,792	4,792	4,792	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 1																3,833	3,833	3,833	3,833	3,833	3,833	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 2																	4,063	4,063	4,063	4,063	4,063	4,063	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 3																		4,307	4,307	4,307	4,307	4,307	4,307	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 4																			4,566	4,566	4,566	4,566	4,566	4,566	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 5																				4,839	4,839	4,839	4,839	4,839	4,839	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 6																					5,130	5,130	5,130	5,130	5,130	5,130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 7																						5,232	5,232	5,232	5,232	5,232	5,232	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 8																							5,337	5,337	5,337	5,337	5,337	5,337	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2   Month 9																								5,444	5,444	5,444	5,444	5,444	5,444	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 10																									5,553	5,553	5,553	5,553	5,553	5,553	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 11																										5,664	5,664	5,664	5,664	5,664	5,664	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 2  Month 12																											5,777	5,777	5,777	5,777	5,777	5,777	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 1																												5,893	5,893	5,893	5,893	5,893	5,893	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 3																													6,010	6,010	6,010	6,010	6,010	6,010	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 3																														6,131	6,131	6,131	6,131	6,131	6,131	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 4																															6,253	6,253	6,253	6,253	6,253	6,253	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 5																																6,378	6,378	6,378	6,378	6,378	6,378	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 6																																	6,506	6,506	6,506	6,506	6,506	6,506	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 7																																		6,571	6,571	6,571	6,571	6,571	6,571	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 8																																			6,637	6,637	6,637	6,637	6,637	6,637	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 9																																				6,703	6,703	6,703	6,703	6,703	6,703	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 10																																					6,770	6,770	6,770	6,770	6,770	6,770	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 11																																						6,838	6,838	6,838	6,838	6,838	6,838	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 3  Month 12																																							6,906	6,906	6,906	6,906	6,906	6,906	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 1																																								6,975	6,975	6,975	6,975	6,975	6,975	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 2																																									7,045	7,045	7,045	7,045	7,045	7,045	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 3																																										7,115	7,115	7,115	7,115	7,115	7,115	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 4																																											7,187	7,187	7,187	7,187	7,187	7,187	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 5																																												7,258	7,258	7,258	7,258	7,258	7,258	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 6																																													7,331	7,331	7,331	7,331	7,331	7,331	-	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 7																																														7,404	7,404	7,404	7,404	7,404	7,404	-	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 8																																															7,478	7,478	7,478	7,478	7,478	7,478	-	-	-	-	-	-	-	-	-	-	-
Year 4  Month 9																																																7,553	7,553	7,553	7,553	7,553	7,553	-	-	-	-	-	-	-	-	-	-
Year 4  Month 10																																																	7,629	7,629	7,629	7,629	7,629	7,629	-	-	-	-	-	-	-	-	-
Year 4  Month 11																																																		7,705	7,705	7,705	7,705	7,705	7,705	-	-	-	-	-	-	-	-
Year 4  Month 12																																																			7,782	7,782	7,782	7,782	7,782	7,782	-	-	-	-	-	-	-
Year 5  Month 1																																																				7,860	7,860	7,860	7,860	7,860	7,860	-	-	-	-	-	-
Year 5  Month 2																																																					7,938	7,938	7,938	7,938	7,938	7,938	-	-	-	-	-
Year 5  Month 3																																																						8,018	8,018	8,018	8,018	8,018	8,018	-	-	-	-
Year 5  Month 4																																																							8,098	8,098	8,098	8,098	8,098	8,098	-	-	-
Year 5  Month 5																																																								8,179	8,179	8,179	8,179	8,179	8,179	-	-
Year 5  Month 6																																																									8,261	8,261	8,261	8,261	8,261	8,261	-
Year 5  Month 7																																																										8,343	8,343	8,343	8,343	8,343	8,343
Year 5  Month 8																																																											8,427	8,427	8,427	8,427	8,427
Year 5  Month 9																																																												8,511	8,511	8,511	8,511
Year 5  Month 10																																																													8,596	8,596	8,596
Year 5  Month 11																																																														8,682	8,682
Year 5  Month 12																																																															8,769
Total Recognized				-	-	-	-	-	-	5,476	9,583	9,583	21,083	28,750	33,542	31,899	31,855	36,162	29,228	26,401	26,739	28,138	29,412	30,548	31,535	32,360	33,007	33,667	34,340	35,027	35,728	36,442	37,171	37,849	38,476	39,048	39,565	40,024	40,425	40,829	41,237	41,649	42,066	42,487	42,911	43,341	43,774	44,212	44,654	45,100	45,551	46,007	46,467	46,932	47,401	47,875	48,354	48,837	49,326	49,819	50,317	50,820	51,328
In Period Deferred Contribution				-	-	-	-	-	-	27,381	15,059	(9,583)	47,917	17,250	(4,792)	(8,899)	(7,475)	(10,319)	(1,834)	2,636	4,040	3,257	2,611	2,115	1,781	1,623	1,655	1,688	1,722	1,757	1,792	1,828	1,864	1,576	1,344	1,170	1,055	1,002	1,012	1,022	1,033	1,043	1,053	1,064	1,074	1,085	1,096	1,107	1,118	1,129	1,141	1,152	1,164	1,175	1,187	1,199	1,211	1,223	1,235	1,247	1,260	1,273	1,285
Deferred Balance				-	-	-	-	-	-	27,381	42,440	32,857	80,774	98,024	93,232	84,333	76,858	66,539	64,705	67,341	71,381	74,638	77,249	79,364	81,145	82,768	84,423	86,112	87,834	89,591	91,382	93,210	95,074	96,650	97,995	99,165	100,220	101,222	102,234	103,257	104,289	105,332	106,385	107,449	108,524	109,609	110,705	111,812	112,930	114,060	115,200	116,352	117,516	118,691	119,878	121,077	122,287	123,510	124,745	125,993	127,253	128,525	129,811
Re-Cap
Total Recognized				-	-	-	-	-	-	279,286	488,750	488,750	1,075,250	1,466,250	1,710,625	1,900,649	2,103,772	2,323,435	2,544,779	2,783,926	3,040,757	3,303,779	3,571,908	3,845,236	4,123,859	4,407,872	4,697,371	4,992,661	5,293,856	5,601,075	5,914,439	6,234,069	6,560,092	6,889,318	7,221,777	7,557,501	7,896,520	8,813,867	8,967,907	9,173,320	9,478,058	9,845,739	10,217,672	10,593,934	10,974,604	11,359,766	11,739,247	12,122,573	12,509,784	12,900,921	13,296,024	13,695,133	14,098,290	14,505,537	14,916,915	15,217,467	15,560,569	15,936,681	16,323,428	16,712,126	17,102,679	17,494,984	17,888,929
Total In Period Deferred Contribution				-	-	-	-	-	-	16,182,155	11,857,309	(488,750)	13,483,750	8,239,750	4,355,625	2,952,351	3,040,408	3,129,395	3,235,217	3,342,865	3,453,637	3,320,506	3,184,864	3,046,667	2,905,881	2,762,460	2,616,366	2,467,347	2,315,357	2,160,328	2,002,187	1,840,886	1,676,359	1,429,500	1,180,234	928,528	674,363	10,192,720	6,675,246	3,969,760	2,890,822	2,819,327	2,756,897	2,704,199	2,661,957	2,630,938	2,437,532	2,243,061	2,047,543	1,850,970	1,653,359	1,454,713	1,255,050	1,054,379	852,693	9,045,009	6,158,014	3,931,291	3,018,725	2,961,450	2,913,910	2,876,822	2,850,954
Total Deferred Balance				-	-	-	-	-	-	16,182,155	28,039,464	27,550,714	41,034,464	49,274,214	53,629,839	56,582,190	59,622,599	62,751,994	65,987,211	69,330,076	72,783,713	76,104,218	79,289,082	82,335,749	85,241,630	88,004,090	90,620,456	93,087,803	95,403,160	97,563,488	99,565,675	101,406,561	103,082,920	104,512,420	105,692,654	106,621,182	107,295,545	117,488,265	124,163,511	128,133,271	131,024,092	133,843,419	136,600,316	139,304,516	141,966,473	144,597,410	147,034,943	149,278,004	151,325,547	153,176,517	154,829,876	156,284,589	157,539,639	158,594,017	159,446,710	168,491,719	174,649,734	178,581,025	181,599,750	184,561,200	187,475,110	190,351,932	193,202,886