50% CONFIDENCE LEVEL
 CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD
 Summary P&L  Summary P&L  Summary P&L  Summary P&L  Summary P&L  Summary P&L
 Year 1  Year 2  Year 3  Year 4  Year 5
1 2 3 4 5 6 7 8 9 10 11 12 Year 1 1 2 3 4 5 6 7 8 9 10 11 12 Year 2 1 2 3 4 5 6 7 8 9 10 11 12 Year 3 1 2 3 4 5 6 7 8 9 10 11 12 Year 4 1 2 3 4 5 6 7 8 9 10 11 12 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Total
<---------SUNRISE PERIOD---------->
New Registrations                   -                      -                      -                      -                      -                      -              400,000            300,000  QUIET            900,000            600,000            375,000         2,575,000            300,000            313,500            327,608            342,350            357,756            373,855            379,463            385,155            390,932            396,796            402,748            408,789          4,378,952            414,921            421,145            427,462            433,874            440,382            446,988            449,223            451,469            453,726            455,995            458,275            460,566          5,314,026            462,869            465,183            467,509            469,847            472,196            474,557            476,930            479,315            481,712            484,121            486,542            488,975         5,709,756              491,420            493,877            496,346              498,828              501,322              503,829              506,348              508,880              511,424              513,981              516,551              519,134           6,061,940         2,575,000          4,378,952          5,314,026         5,709,756           6,061,940        24,039,674
Revenue  $               -    $                -    $                -    $                -    $                 -    $                 -    $        195,500  $        342,125  $        342,125  $        782,000  $     1,075,250  $     1,258,531  $     3,995,531  $     1,401,323  $     1,551,671  $     1,711,789  $     1,870,488  $     2,039,591  $     2,218,719  $     2,401,307  $     2,586,547  $     2,774,475  $     2,965,128  $     3,158,543  $     3,354,756  $     28,034,338  $     3,553,912  $     3,756,056  $     3,961,231  $     4,169,484  $     4,380,861  $     4,595,409  $     4,810,991  $     5,027,610  $     5,245,272  $     5,463,982  $     6,114,993  $     6,192,061  $     57,271,864  $     6,306,171  $     6,493,265  $     6,723,881  $     6,955,909  $     7,189,367  $     7,424,275  $     7,660,652  $     7,893,147  $     8,126,831  $     8,361,710  $     8,597,792  $     8,835,083  $    90,568,082  $       9,073,589  $     9,313,316  $     9,554,271  $       9,796,460  $       9,910,516  $      10,068,945  $      10,260,972  $      10,462,900  $      10,664,113  $      10,864,528  $      11,064,063  $      11,262,626  $    122,296,299  $     3,995,531  $     28,034,338  $     57,271,864  $    90,568,082  $    122,296,299  $   302,166,114
Operating Expenses:
Registry Operator                   -                      -                      -                      -                      -                      -              100,300            175,525            175,525            401,200            551,650            645,681         2,049,881            718,940            796,075            878,222            959,642         1,046,399         1,138,299         1,330,308         1,499,094         1,595,510         1,693,323         1,792,553         1,893,219         15,341,584         1,817,603         1,738,641         1,656,182         1,570,070         1,480,141         1,386,225         1,096,274            854,090            757,986            439,190            192,681                    -           12,989,084                    -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -           2,049,881         15,341,584         12,989,084                    -                        -          30,380,550
Systems Development & Support            18,229             37,500             43,229             43,229              43,229              43,229              43,229              43,229              43,229              43,229              43,229            121,042            565,833              45,391              45,391              45,391              45,391              45,391              45,391              45,391              73,222              73,222            216,908            629,527            707,339          2,017,951            640,546            640,546            640,546            640,546            640,546            640,546            640,546            640,546            664,546            664,546            664,546            742,359          7,860,366            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            882,648         9,735,833              945,739            948,139            948,139              948,139              948,139              948,139              948,139              948,139              948,139              948,139              948,139           1,025,951         11,453,078            565,833          2,017,951          7,860,366         9,735,833         11,453,078        31,633,061
Customer Service                   -                      -                 3,646             26,042              42,396              42,396              42,396              42,396              48,542              48,542              48,542            114,917            459,813              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422            123,797             755,438              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293            126,668             789,891              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308            129,683            826,066                66,473              66,473              66,473                66,473                66,473                66,473                66,473                66,473                66,473                66,473                66,473              132,848              864,051            459,813             755,438             789,891            826,066              864,051          3,695,258
Sales & Marketing          300,000           319,271           332,813           432,813            632,813            732,813         1,482,813         1,482,813         2,490,625         4,990,625         4,890,625         4,848,750       22,936,771         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,750,292         20,364,134         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,520,675         17,608,727         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,367,826       15,774,543           1,244,515         1,244,515         1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,302,640         14,992,306       22,936,771         20,364,134         17,608,727       15,774,543         14,992,306        91,676,480
General & Administrative          224,373           254,524           270,495           320,583            342,150            243,350            291,350            279,350            245,969            353,969            317,969            411,282         3,555,366            295,880            297,565            306,222            319,455            321,378            327,792            328,492            329,202            329,923            330,655            357,828            478,894          4,023,284            372,809            373,617            374,437            375,269            376,114            376,971            377,261            377,553            377,846            378,140            378,436            499,046          4,637,498            402,356            402,668            402,982            403,298            403,615            403,933            404,254            404,576            404,899            405,224            405,551            526,192         4,969,549              428,858            429,203            429,550              429,898              430,248              430,600              430,954              431,309              431,666              432,025              432,386              553,061           5,289,760         3,555,366          4,023,284          4,637,498         4,969,549           5,289,760        22,475,457
R&D                   -                      -                      -                      -                      -                      -                 1,955               3,421               3,421               7,820              10,753              12,585              39,955              39,955              14,013              15,517              28,055              29,642              70,708              72,500              74,326              76,178              78,057              79,964              81,898             660,814              86,376            333,172              88,367              90,389              92,440              94,523              96,637              98,782            100,938            103,104            105,281            107,468          1,397,477            116,619            117,390            628,188            118,531            120,402            122,708            125,029            127,363            129,712            132,076            134,401            136,738         2,009,159              141,860            144,221            146,594              963,924              148,979              151,376              153,786              156,208              157,348              158,932              160,853              162,872           2,646,952              39,955             660,814          1,397,477         2,009,159           2,646,952          6,754,356
Operating Expenses          542,602           611,294           650,182           822,666         1,060,588         1,061,788         1,962,043         2,026,734         3,007,311         5,845,385         5,862,768         6,154,257       29,607,619         2,849,755         2,902,633         2,994,941         3,102,132         3,192,399         3,331,779         3,526,279         3,725,433         3,824,422         4,068,532         4,609,461         5,035,439         43,163,205         4,440,177         4,608,818         4,282,375         4,199,117         4,112,085         4,021,109         3,733,561         3,493,814         3,424,159         3,107,824         2,863,788         2,996,216         45,283,043         2,696,819         2,697,902         3,209,014         2,699,673         2,701,861         2,704,486         2,707,127         2,709,783         2,712,456         2,715,145         2,717,796         3,043,087       33,315,150           2,827,445         2,832,551         2,835,270           3,652,949           2,838,354           2,841,103           2,843,866           2,846,644           2,848,141           2,850,085           2,852,366           3,177,373         35,246,147       29,607,619         43,163,205         45,283,043       33,315,150         35,246,147       186,615,163
                                                                                                                                             
EBITDA         (542,602)          (611,294)          (650,182)          (822,666)        (1,060,588)        (1,061,788)        (1,766,543)        (1,684,609)        (2,665,186)        (5,063,385)        (4,787,518)        (4,895,725)      (25,612,087)        (1,448,432)        (1,350,962)        (1,283,152)        (1,231,644)        (1,152,808)        (1,113,060)        (1,124,973)        (1,138,886)        (1,049,946)        (1,103,404)        (1,450,918)        (1,680,683)        (15,128,867)           (886,265)           (852,763)           (321,144)             (29,632)            268,777            574,301         1,077,429         1,533,796         1,821,113         2,356,158         3,251,206         3,195,846         11,988,821         3,609,352         3,795,363         3,514,866         4,256,236         4,487,505         4,719,789         4,953,526         5,183,364         5,414,375         5,646,566         5,879,996         5,791,996       57,252,932           6,246,143         6,480,765         6,719,000           6,143,512           7,072,162           7,227,842           7,417,106           7,616,257           7,815,971           8,014,444           8,211,697           8,085,254         87,050,152      (25,612,087)        (15,128,867)         11,988,821       57,252,932         87,050,152       115,550,951
Depreciation & Amortization                   -                 5,139             14,417             16,569              17,347              18,125              18,125              18,125              18,125              18,417              18,417              18,417            181,222              18,417              18,708              18,708              18,806              19,278              19,278              20,667              20,667              20,667              20,667              20,667              29,000             245,528              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000             348,000              29,000              26,639              17,361              15,208              14,431              13,653              13,653              13,653              13,653              13,361              13,361              13,361            197,333                13,361              15,847              15,847                15,750                15,278                15,278                13,889                13,889                13,889                13,889                13,889                 5,556              166,361            181,222             245,528             348,000            197,333              166,361          1,138,444
                                                                                                                                             
EBIT         (542,602)          (616,433)          (664,599)          (839,236)        (1,077,935)        (1,079,913)        (1,784,668)        (1,702,734)        (2,683,311)        (5,081,802)        (4,805,934)        (4,914,142)      (25,793,310)        (1,466,849)        (1,369,670)        (1,301,860)        (1,250,449)        (1,172,085)        (1,132,338)        (1,145,639)        (1,159,553)        (1,070,613)        (1,124,070)        (1,471,584)        (1,709,683)        (15,374,395)           (915,265)           (881,763)           (350,144)             (58,632)            239,777            545,301         1,048,429         1,504,796         1,792,113         2,327,158         3,222,206         3,166,846         11,640,821         3,580,352         3,768,724         3,497,505         4,241,027         4,473,075         4,706,136         4,939,873         5,169,711         5,400,722         5,633,204         5,866,635         5,778,635       57,055,599           6,232,782         6,464,918         6,703,153           6,127,762           7,056,884           7,212,564           7,403,217           7,602,368           7,802,082           8,000,555           8,197,808           8,079,698         86,883,791      (25,793,310)        (15,374,395)         11,640,821       57,055,599         86,883,791       114,412,507
                   -                        -                        -                      -                        -                      -                        -                        -                      -                        -                       -  
Interest                   -                 6,313               4,952               3,900               2,755               1,325                    -                13,579              21,935              17,816              25,724              25,201            123,500              21,666              20,006              21,101              22,387              23,818              25,465              27,200              27,317              26,174              26,827              26,699              24,358             293,016              23,224              24,750              28,160              31,674              35,473              39,213              42,818              46,053              48,956              51,628              53,905              66,820             492,672              75,674              81,408              86,402              91,448              96,112            101,183            106,296            111,459            116,543            121,549            126,476            131,325         1,245,875              135,995            140,364            144,915              149,390              153,849              165,606              175,307              182,992              189,920              196,873              203,857              210,879           2,049,947            123,500             293,016             492,672         1,245,875           2,049,947          4,205,010
                                                                                                                                                     -                        -                        -                      -                        -                       -  
Pretax Consortium Profit (Before Rebates)         (542,602)          (622,746)          (669,551)          (843,136)        (1,080,690)        (1,081,238)        (1,784,668)        (1,716,313)        (2,705,246)        (5,099,617)        (4,831,658)        (4,939,343)      (25,916,809)        (1,488,515)        (1,389,676)        (1,322,961)        (1,272,836)        (1,195,903)        (1,157,803)        (1,172,840)        (1,186,869)        (1,096,787)        (1,150,897)        (1,498,284)        (1,734,041)        (15,667,411)           (938,490)           (906,512)           (378,304)             (90,306)            204,304            506,088         1,005,612         1,458,743         1,743,158         2,275,530         3,168,301         3,100,025         11,148,150         3,504,677         3,687,316         3,411,103         4,149,579         4,376,963         4,604,953         4,833,577         5,058,252         5,284,179         5,511,656         5,740,159         5,647,310       55,809,724           6,096,787         6,324,553         6,558,238           5,978,371           6,903,036           7,046,958           7,227,910           7,419,376           7,612,162           7,803,682           7,993,951           7,868,819         84,833,844      (25,916,809)        (15,667,411)         11,148,150       55,809,724         84,833,844       110,207,497
Rebates                   -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                51,076            126,522            251,403            364,686            435,789            568,883            792,075            775,006          3,365,440            876,169            921,829            852,776         1,037,395         1,094,241         1,151,238         1,208,394         1,264,563         1,321,045         1,377,914         1,435,040         1,411,827       13,952,431           1,524,197         1,581,138         1,639,559           1,494,593           1,725,759           1,761,740           1,806,977           1,854,844           1,903,041           1,950,921           1,998,488           1,967,205         21,208,461                    -                        -            3,365,440       13,952,431         21,208,461        38,526,332
Pretax Consortium Profit         (542,602)          (622,746)          (669,551)          (843,136)        (1,080,690)        (1,081,238)        (1,784,668)        (1,716,313)        (2,705,246)        (5,099,617)        (4,831,658)        (4,939,343)      (25,916,809)        (1,488,515)        (1,389,676)        (1,322,961)        (1,272,836)        (1,195,903)        (1,157,803)        (1,172,840)        (1,186,869)        (1,096,787)        (1,150,897)        (1,498,284)        (1,734,041)        (15,667,411)           (938,490)           (906,512)           (378,304)             (90,306)            153,228            379,566            754,209         1,094,057         1,307,368         1,706,648         2,376,226         2,325,019          7,782,709         2,628,508         2,765,487         2,558,327         3,112,184         3,282,722         3,453,715         3,625,183         3,793,689         3,963,134         4,133,742         4,305,119         4,235,482       41,857,293           4,572,590         4,743,415         4,918,678           4,483,779           5,177,277           5,285,219           5,420,932           5,564,532           5,709,122           5,852,762           5,995,463           5,901,614         63,625,383      (25,916,809)        (15,667,411)          7,782,709       41,857,293         63,625,383        71,681,165
Estimated Stockholder Taxes                   -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                61,291            151,826            301,684            437,623            522,947            682,659            950,490            930,008          4,038,528         1,051,403         1,106,195         1,023,331         1,244,874         1,313,089         1,381,486         1,450,073         1,517,476         1,585,254         1,653,497         1,722,048         1,694,193       16,742,917           1,829,036         1,897,366         1,967,471           1,793,511           2,070,911           2,114,087           2,168,373           2,225,813           2,283,649           2,341,105           2,398,185           2,360,646         25,450,153                    -                        -            4,038,528       16,742,917         25,450,153        46,231,599
Estimated Consortium Net Income         (542,602)          (622,746)          (669,551)          (843,136)        (1,080,690)        (1,081,238)        (1,784,668)        (1,716,313)        (2,705,246)        (5,099,617)        (4,831,658)        (4,939,343)      (25,916,809)        (1,488,515)        (1,389,676)        (1,322,961)        (1,272,836)        (1,195,903)        (1,157,803)        (1,172,840)        (1,186,869)        (1,096,787)        (1,150,897)        (1,498,284)        (1,734,041)        (15,667,411)           (938,490)           (906,512)           (378,304)             (90,306)              91,937            227,740            452,525            656,434            784,421         1,023,989         1,425,735         1,395,011          3,744,181         1,577,105         1,659,292         1,534,996         1,867,311         1,969,633         2,072,229         2,175,110         2,276,213         2,377,881         2,480,245         2,583,072         2,541,289       25,114,376           2,743,554         2,846,049         2,951,207           2,690,267           3,106,366           3,171,131           3,252,559           3,338,719           3,425,473           3,511,657           3,597,278           3,540,968         38,175,230      (25,916,809)        (15,667,411)          3,744,181       25,114,376         38,175,230        25,449,566
Cumulative Net Income         (542,602)       (1,165,348)       (1,834,900)       (2,678,035)        (3,758,726)        (4,839,964)        (6,624,632)        (8,340,945)      (11,046,191)      (16,145,809)      (20,977,467)      (25,916,809)      (25,916,809)      (27,405,324)      (28,795,000)      (30,117,960)      (31,390,797)      (32,586,700)      (33,744,502)      (34,917,342)      (36,104,211)      (37,200,998)      (38,351,896)      (39,850,179)      (41,584,221)        (41,584,221)      (42,522,710)      (43,429,223)      (43,807,526)      (43,897,833)      (43,805,896)      (43,578,156)      (43,125,631)      (42,469,196)      (41,684,775)      (40,660,787)      (39,235,051)      (37,840,040)        (37,840,040)      (36,262,935)      (34,603,643)      (33,068,646)      (31,201,336)      (29,231,702)      (27,159,473)      (24,984,364)      (22,708,151)      (20,330,270)      (17,850,025)      (15,266,953)      (12,725,664)      (12,725,664)          (9,982,110)        (7,136,061)        (4,184,854)          (1,494,587)           1,611,779           4,782,911           8,035,470         11,374,189         14,799,662         18,311,319         21,908,597         25,449,566         25,449,566      (25,916,809)        (41,584,221)        (37,840,040)      (12,725,664)         25,449,566       (92,617,168)
Net Cash*        4,328,838          (932,956)          (721,524)          (784,991)           (980,632)        (1,062,513)         9,465,335         5,729,370        (2,824,580)         5,422,674           (358,500)        (2,423,899)       14,856,621        (1,138,444)            750,885            881,770            981,250         1,129,429         1,190,174              79,653           (783,584)            448,008             (87,621)        (1,605,514)           (777,435)          1,068,572         1,045,906         2,338,416         2,409,838         2,604,682         2,564,600         2,472,108         2,218,209         1,990,581         1,832,190         1,561,787         8,856,181         6,071,288         35,965,784         3,931,625         3,424,540         3,460,023         3,197,977         3,477,478         3,506,128         3,540,283         3,486,205         3,432,372         3,378,627         3,325,303         3,202,370       41,362,931           2,995,997         3,120,590         3,068,437           3,057,286           8,062,033           6,652,339           5,269,459           4,750,881           4,767,526           4,789,184           4,815,195           4,771,335         56,120,261       14,856,621          1,068,572         35,965,784       41,362,931         56,120,261       149,374,168
                   -                        -                        -                      -                        -  
Cumulative Cash Balance*        4,328,838        3,395,882        2,674,358        1,889,367            908,735           (153,778)         9,311,556       15,040,926       12,216,346       17,639,020       17,280,520       14,856,621       14,856,621       13,718,177       14,469,062       15,350,832       16,332,082       17,461,511       18,651,685       18,731,338       17,947,754       18,395,762       18,308,141       16,702,627       15,925,192         15,925,192       16,971,098       19,309,515       21,719,352       24,324,034       26,888,634       29,360,741       31,578,950       33,569,530       35,401,720       36,963,507       45,819,688       51,890,976         51,890,976       55,822,601       59,247,141       62,707,164       65,905,142       69,382,620       72,888,748       76,429,031       79,915,236       83,347,608       86,726,235       90,051,537       93,253,907       93,253,907         96,249,904       99,370,494      102,438,931        105,496,217        113,558,250        120,210,589        125,480,048        130,230,929        134,998,455        139,787,639        144,602,833        149,374,168        149,374,168       14,856,621         15,925,192         51,890,976       93,253,907        149,374,168       325,300,865
As Percent of Revenue (Accrual)
Cost of Revenue 0% 0% 0% 0% 0% 0% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 55% 58% 58% 57% 57% 56% 55% 51% 46% 42% 38% 34% 30% 23% 17% 14% 8% 3% 0% 23% 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% 51% 55% 23% 0% 0% 10%
Sales & Marketing 0% 0% 0% 0% 0% 0% 758% 433% 728% 638% 455% 385% 574% 121% 109% 99% 90% 83% 76% 70% 65% 61% 57% 54% 52% 73% 41% 39% 37% 35% 33% 32% 30% 29% 28% 27% 24% 25% 31% 21% 20% 19% 19% 18% 18% 17% 17% 16% 16% 15% 15% 17% 14% 13% 13% 13% 13% 12% 12% 12% 12% 11% 11% 12% 12% 574% 73% 31% 17% 12% 30%
G&A 0% 0% 0% 0% 0% 0% 149% 82% 72% 45% 30% 33% 89% 21% 19% 18% 17% 16% 15% 14% 13% 12% 11% 11% 14% 14% 10% 10% 9% 9% 9% 8% 8% 8% 7% 7% 6% 8% 8% 6% 6% 6% 6% 6% 5% 5% 5% 5% 5% 5% 6% 5% 5% 5% 4% 4% 4% 4% 4% 4% 4% 4% 4% 5% 4% 89% 14% 8% 5% 4% 7%
S,G&A 0% 0% 0% 0% 0% 0% 908% 515% 800% 683% 484% 418% 663% 142% 128% 117% 108% 99% 91% 84% 78% 73% 68% 65% 66% 87% 52% 49% 46% 44% 42% 40% 38% 37% 35% 34% 30% 33% 39% 27% 26% 25% 25% 24% 23% 22% 22% 21% 21% 20% 21% 23% 18% 18% 18% 17% 17% 17% 16% 16% 16% 15% 15% 16% 17% 663% 87% 39% 23% 17% 38%
R&D 0% 0% 0% 0% 0% 0% 1% 1% 1% 1% 1% 1% 1% 3% 1% 1% 1% 1% 3% 3% 3% 3% 3% 3% 2% 2% 2% 9% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 9% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 10% 2% 2% 1% 1% 1% 1% 1% 1% 2% 1% 2% 2% 2% 2% 2%
                   -                        -                        -                      -                        -  
Gross Margin Equivalent 0% 0% 0% 0% 0% 0% 27% 36% 36% 43% 45% 39% 35% 45% 46% 46% 46% 46% 47% 43% 39% 40% 36% 23% 22% 38% 31% 37% 42% 47% 52% 56% 64% 70% 73% 80% 86% 88% 64% 87% 88% 88% 88% 89% 89% 89% 90% 90% 90% 91% 90% 89% 90% 90% 90% 90% 90% 91% 91% 91% 91% 91% 91% 91% 91% 35% 38% 64% 89% 91% 21%
Net Income 0% 0% 0% 0% 0% 0% -913% -502% -791% -652% -449% -392% -649% -106% -90% -77% -68% -59% -52% -49% -46% -40% -39% -47% -52% -56% -26% -24% -10% -2% 2% 5% 9% 13% 15% 19% 23% 23% 7% 25% 26% 23% 27% 27% 28% 28% 29% 29% 30% 30% 29% 28% 30% 31% 31% 27% 31% 31% 32% 32% 32% 32% 33% 31% 31% -649% -56% 7% 28% 31% 8%
*Cash flows include financing flows.
gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM
Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet
 gTLD BALANCE SHEET                                
 Year 1  Year 2  Year 3  Year 4  Year 5
1 2 3 4 5 6 7 8 9 10 11 12 Year 1 1 2 3 4 5 6 7 8 9 10 11 12 Year 2 1 2 3 4 5 6 7 8 9 10 11 12 Year 3 1 2 3 4 5 6 7 8 9 10 11 12 Year 4 1 2 3 4 5 6 7 8 9 10 11 12 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Total
 Current Assets:
 Cash $4,328,838 $3,395,882 $2,674,358 $1,889,367 $908,735 ($153,778) $9,311,556 $15,040,926 $12,216,346 $17,639,020 $17,280,520 $14,856,621 $14,856,621 $13,718,177 $14,469,062 $15,350,832 $16,332,082 $17,461,511 $18,651,685 $18,731,338 $17,947,754 $18,395,762 $18,308,141 $16,702,627 $15,925,192 $15,925,192 $16,971,098 $19,309,515 $21,719,352 $24,324,034 $26,888,634 $29,360,741 $31,578,950 $33,569,530 $35,401,720 $36,963,507 $45,819,688 $51,890,976 $51,890,976 $55,822,601 $59,247,141 $62,707,164 $65,905,142 $69,382,620 $72,888,748 $76,429,031 $79,915,236 $83,347,608 $86,726,235 $90,051,537 $93,253,907 $93,253,907 $96,249,904 $99,370,494 $102,438,931 $105,496,217 $113,558,250 $120,210,589 $125,480,048 $130,230,929 $134,998,455 $139,787,639 $144,602,833 $149,374,168 $149,374,168 $14,856,621 $15,925,192 $51,890,976 $93,253,907 $149,374,168       149,374,168
 Accounts Receivable $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 $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                     -  
 Pre-Paid Expense $0 $0 $0 $0 $0 $0 $1,091,500 $1,809,825 $1,634,300 $3,914,650 $5,150,700 $5,622,331 $5,622,331 $5,797,242 $5,935,240 $6,033,126 $6,093,516 $6,113,051 $6,088,653 $8,248,955 $9,667,430 $9,236,702 $11,380,632 $12,558,067 $12,989,084 $12,989,084 $11,171,481 $9,432,840 $7,776,659 $6,206,589 $4,726,447 $3,340,222 $2,243,948 $1,389,858 $631,872 $192,681 $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 $5,622,331 $12,989,084 $0 $0 $0                       0
 Other Current Assets $0 $0 $0 $0 $0 $0 $5,750 $10,063 $10,063 $23,000 $31,625 $37,016 $37,016 $41,328 $45,835 $50,544 $55,465 $60,608 $65,982 $71,437 $76,974 $82,593 $88,297 $94,087 $99,963 $99,963 $105,928 $111,982 $118,126 $124,363 $130,694 $137,119 $143,577 $150,067 $156,589 $163,144 $182,669 $184,977 $184,977 $188,397 $194,005 $200,920 $207,877 $214,877 $221,920 $229,007 $235,978 $242,984 $250,027 $257,105 $264,219 $264,219 $271,370 $278,558 $285,783 $293,044 $296,461 $301,210 $306,967 $313,020 $319,052 $325,060 $331,042 $336,994 $336,994 $37,016 $99,963 $184,977 $264,219 $336,994             336,994
 Total Current Assets $4,328,838 $3,395,882 $2,674,358 $1,889,367 $908,735 ($153,778) $10,408,806 $16,860,813 $13,860,709 $21,576,670 $22,462,845 $20,515,968 $20,515,968 $19,556,747 $20,450,136 $21,434,502 $22,481,063 $23,635,170 $24,806,319 $27,051,730 $27,692,158 $27,715,057 $29,777,071 $29,354,781 $29,014,240 $29,014,240 $28,248,507 $28,854,336 $29,614,137 $30,654,986 $31,745,775 $32,838,083 $33,966,475 $35,109,455 $36,190,181 $37,319,332 $46,002,357 $52,075,954 $52,075,954 $56,010,998 $59,441,147 $62,908,084 $66,113,019 $69,597,496 $73,110,667 $76,658,038 $80,151,214 $83,590,592 $86,976,261 $90,308,642 $93,518,127 $93,518,127 $96,521,275 $99,649,052 $102,724,713 $105,789,261 $113,854,711 $120,511,799 $125,787,014 $130,543,949 $135,317,507 $140,112,699 $144,933,875 $149,711,163 $149,711,163 $20,515,968 $29,014,240 $52,075,954 $93,518,127 $149,711,163       149,711,163
 Fixed Assets:
 Plant, Property, & Equipment $185,000 $519,000 $596,500 $624,500 $652,500 $652,500 $652,500 $652,500 $663,000 $663,000 $663,000 $663,000 $663,000 $673,500 $673,500 $677,000 $694,000 $694,000 $744,000 $744,000 $744,000 $744,000 $744,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,044,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,144,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $1,244,000 $663,000 $1,044,000 $1,044,000 $1,144,000 $1,244,000          1,244,000
 Accumulated Depreciation $0 ($5,139) ($19,556) ($36,125) ($53,472) ($71,597) ($89,722) ($107,847) ($125,972) ($144,389) ($162,806) ($181,222) ($181,222) ($199,639) ($218,347) ($237,056) ($255,861) ($275,139) ($294,417) ($315,083) ($335,750) ($356,417) ($377,083) ($397,750) ($426,750) ($426,750) ($455,750) ($484,750) ($513,750) ($542,750) ($571,750) ($600,750) ($629,750) ($658,750) ($687,750) ($716,750) ($745,750) ($774,750) ($774,750) ($803,750) ($830,389) ($847,750) ($862,958) ($877,389) ($891,042) ($904,694) ($918,347) ($932,000) ($945,361) ($958,722) ($972,083) ($972,083) ($985,444) ($1,001,292) ($1,017,139) ($1,032,889) ($1,048,167) ($1,063,444) ($1,077,333) ($1,091,222) ($1,105,111) ($1,119,000) ($1,132,889) ($1,138,444) ($1,138,444) ($181,222) ($426,750) ($774,750) ($972,083) ($1,138,444)         (1,138,444)
 Total Fixed Assets $185,000 $513,861 $576,944 $588,375 $599,028 $580,903 $562,778 $544,653 $537,028 $518,611 $500,194 $481,778 $481,778 $473,861 $455,153 $439,944 $438,139 $418,861 $449,583 $428,917 $408,250 $387,583 $366,917 $646,250 $617,250 $617,250 $588,250 $559,250 $530,250 $501,250 $472,250 $443,250 $414,250 $385,250 $356,250 $327,250 $298,250 $269,250 $269,250 $340,250 $313,611 $296,250 $281,042 $266,611 $252,958 $239,306 $225,653 $212,000 $198,639 $185,278 $171,917 $171,917 $258,556 $242,708 $226,861 $211,111 $195,833 $180,556 $166,667 $152,778 $138,889 $125,000 $111,111 $105,556 $105,556 $481,778 $617,250 $269,250 $171,917 $105,556             105,556
 Total Assets $4,513,838 $3,909,743 $3,251,303 $2,477,742 $1,507,762 $427,124 $10,971,584 $17,405,466 $14,397,737 $22,095,281 $22,963,039 $20,997,745 $20,997,745 $20,030,608 $20,905,289 $21,874,446 $22,919,202 $24,054,031 $25,255,903 $27,480,646 $28,100,408 $28,102,641 $30,143,988 $30,001,031 $29,631,490 $29,631,490 $28,836,757 $29,413,586 $30,144,387 $31,156,236 $32,218,025 $33,281,333 $34,380,725 $35,494,705 $36,546,431 $37,646,582 $46,300,607 $52,345,204 $52,345,204 $56,351,248 $59,754,758 $63,204,334 $66,394,060 $69,864,108 $73,363,626 $76,897,343 $80,376,866 $83,802,592 $87,174,900 $90,493,920 $93,690,043 $93,690,043 $96,779,830 $99,891,761 $102,951,574 $106,000,372 $114,050,545 $120,692,354 $125,953,681 $130,696,727 $135,456,396 $140,237,699 $145,044,986 $149,816,718 $149,816,718 $20,997,745 $29,631,490 $52,345,204 $93,690,043 $149,816,718       149,816,718
 Current Liabilities:
 Accounts Payable          266,440           285,092           296,202           365,778            476,488            477,088         1,472,966         1,318,724         1,358,365         4,005,340         3,491,881         3,169,383 $3,169,383         1,448,020         1,456,003         1,480,497         1,510,094         1,534,800         1,572,024         2,761,624         2,476,372         1,601,265         2,938,806         2,560,546         2,314,294 $2,314,294            971,969         1,095,771            973,779            975,205            976,654            978,124            979,326            980,544            981,768            982,999            984,235         1,060,756 $1,060,756            942,314            942,856         1,198,412            943,741            944,835            946,148            947,468            948,796            950,132            951,477            952,803         1,029,415 $1,029,415              954,127            955,480            956,839           1,365,679              958,381              959,756              961,137              962,526              963,275              964,246              965,387           1,041,857 $1,041,857 $3,169,383 $2,314,294 $1,060,756 $1,029,415 $1,041,857          1,041,857
 Unearned Revenue                   -                      -                      -                      -                      -                      -         11,327,500       19,627,625       19,285,500       29,422,750       35,627,000       38,918,156 $38,918,156       41,156,583       43,408,451       45,671,366       47,954,439       50,255,322       52,572,399       54,774,927       56,861,273       58,829,781       60,678,780       62,406,577       64,011,453 $64,011,453       65,491,571       66,845,057       68,070,008       69,164,500       70,126,573       70,954,246       71,593,453       72,043,291       72,302,849       72,371,226       79,578,754       84,149,510 $84,149,510       86,693,472       88,431,539       90,083,649       91,653,778       93,146,098       94,565,032       95,915,232       97,110,243       98,149,745       99,033,421       99,760,966      100,332,073 $100,332,073        100,746,443      101,003,784      101,103,806        101,046,237        106,393,923        109,858,478        111,860,107        113,256,991        114,584,407        115,847,073        117,049,960        118,198,301 $118,198,301 $38,918,156 $64,011,453 $84,149,510 $100,332,073 $118,198,301       118,198,301
 Other Current Liabilities $0 $0 $0 $0 $0 $0 $5,750 $10,063 $10,063 $23,000 $31,625 $37,016 $37,016 $41,328 $45,835 $50,544 $55,465 $60,608 $65,982 $71,437 $76,974 $82,593 $88,297 $94,087 $99,963 $99,963 $105,928 $111,982 $118,126 $124,363 $130,694 $137,119 $143,577 $150,067 $156,589 $163,144 $182,669 $184,977 $184,977 $188,397 $194,005 $200,920 $207,877 $214,877 $221,920 $229,007 $235,978 $242,984 $250,027 $257,105 $264,219 $264,219 $271,370 $278,558 $285,783 $293,044 $296,461 $301,210 $306,967 $313,020 $319,052 $325,060 $331,042 $336,994 $336,994 $37,016 $99,963 $184,977 $264,219 $336,994             336,994
 Total Current Liabilities $266,440 $285,092 $296,202 $365,778 $476,488 $477,088 $12,806,216 $20,956,411 $20,653,928 $33,451,090 $39,150,506 $42,124,555 $42,124,555 $42,645,932 $44,910,289 $47,202,406 $49,519,999 $51,850,731 $54,210,405 $57,607,988 $59,414,619 $60,513,639 $63,705,883 $65,061,210 $66,425,710 $66,425,710 $66,569,467 $68,052,809 $69,161,913 $70,264,069 $71,233,921 $72,069,489 $72,716,355 $73,173,901 $73,441,206 $73,517,369 $80,745,658 $85,395,243 $85,395,243 $87,824,183 $89,568,401 $91,482,981 $92,805,396 $94,305,810 $95,733,099 $97,091,707 $98,295,017 $99,342,862 $100,234,925 $100,970,873 $101,625,707 $101,625,707 $101,971,940 $102,237,821 $102,346,428 $102,704,959 $107,648,765 $111,119,444 $113,128,211 $114,532,537 $115,866,734 $117,136,380 $118,346,389 $119,577,152 $119,577,152 $42,124,555 $66,425,710 $85,395,243 $101,625,707 $119,577,152       119,577,152
 Long-Term Liabilities:
 Bank Loans $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 $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                     -  
 Other Long-Term Liabilities $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 $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                     -  
 Total Long-Term Liabilities $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 $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                     -  
 Owner Equity:
 Equity Contributions
 Retained Earnings / (Loss) - After Tax         (542,602)       (1,165,348)       (1,834,900)       (2,678,035)        (3,758,726)        (4,839,964)        (6,624,632)        (8,340,945)      (11,046,191)      (16,145,809)      (20,977,467)      (25,916,809) ($25,916,809)      (27,405,324)      (28,795,000)      (30,117,960)      (31,390,797)      (32,586,700)      (33,744,502)      (34,917,342)      (36,104,211)      (37,200,998)      (38,351,896)      (39,850,179)      (41,584,221) ($41,584,221)      (42,522,710)      (43,429,223)      (43,807,526)      (43,897,833)      (43,805,896)      (43,578,156)      (43,125,631)      (42,469,196)      (41,684,775)      (40,660,787)      (39,235,051)      (37,840,040) ($37,840,040)      (36,262,935)      (34,603,643)      (33,068,646)      (31,201,336)      (29,231,702)      (27,159,473)      (24,984,364)      (22,708,151)      (20,330,270)      (17,850,025)      (15,266,953)      (12,725,664) ($12,725,664)          (9,982,110)        (7,136,061)        (4,184,854)          (1,494,587)           1,611,779           4,782,911           8,035,470         11,374,189         14,799,662         18,311,319         21,908,597         25,449,566 $25,449,566 ($25,916,809) ($41,584,221) ($37,840,040) ($12,725,664) $25,449,566        25,449,566
 Total Owner Equity $4,247,398 $3,624,652 $2,955,100 $2,111,965 $1,031,274 ($49,964) ($1,834,632) ($3,550,945) ($6,256,191) ($11,355,809) ($16,187,467) ($21,126,809) ($21,126,809) ($22,615,324) ($24,005,000) ($25,327,960) ($26,600,797) ($27,796,700) ($28,954,502) ($30,127,342) ($31,314,211) ($32,410,998) ($33,561,896) ($35,060,179) ($36,794,221) ($36,794,221) ($37,732,710) ($38,639,223) ($39,017,526) ($39,107,833) ($39,015,896) ($38,788,156) ($38,335,631) ($37,679,196) ($36,894,775) ($35,870,787) ($34,445,051) ($33,050,040) ($33,050,040) ($31,472,935) ($29,813,643) ($28,278,646) ($26,411,336) ($24,441,702) ($22,369,473) ($20,194,364) ($17,918,151) ($15,540,270) ($13,060,025) ($10,476,953) ($7,935,664) ($7,935,664) ($5,192,110) ($2,346,061) $605,146 $3,295,413 $6,401,779 $9,572,911 $12,825,470 $16,164,189 $19,589,662 $23,101,319 $26,698,597 $30,239,566 $30,239,566 ($21,126,809) ($36,794,221) ($33,050,040) ($7,935,664) $30,239,566        30,239,566
                   -                        -                        -                      -                        -  
 Total Equity & Liabilities $4,513,838 $3,909,743 $3,251,303 $2,477,742 $1,507,762 $427,124 $10,971,584 $17,405,466 $14,397,737 $22,095,281 $22,963,039 $20,997,745 $20,997,745 $20,030,608 $20,905,289 $21,874,446 $22,919,202 $24,054,031 $25,255,903 $27,480,646 $28,100,408 $28,102,641 $30,143,988 $30,001,031 $29,631,490 $29,631,490 $28,836,757 $29,413,586 $30,144,387 $31,156,236 $32,218,025 $33,281,333 $34,380,725 $35,494,705 $36,546,431 $37,646,582 $46,300,607 $52,345,204 $52,345,204 $56,351,248 $59,754,758 $63,204,334 $66,394,060 $69,864,108 $73,363,626 $76,897,343 $80,376,866 $83,802,592 $87,174,900 $90,493,920 $93,690,043 $93,690,043 $96,779,830 $99,891,761 $102,951,574 $106,000,372 $114,050,545 $120,692,354 $125,953,681 $130,696,727 $135,456,396 $140,237,699 $145,044,986 $149,816,718 $149,816,718 $20,997,745 $29,631,490 $52,345,204 $93,690,043 $149,816,718       149,816,718
                                                                                                                                                         
 Balance Sheet Assumptions - Working Capital
 Accounts Receivable                     -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                          -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                      -                      -                        -                        -                      -                        -  
 Accounts Receivable as a % of Revenue (Cash) 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% 0.0% 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% 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% 0.0% 0.0% 0.0%
 Accounts Receivable - Collection Days 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 0 0 0                    -   0 0 0 0 0 0 0 0 0 0 0 0                      -                      -                        -                        -                      -                        -  
 Accts Payable Registry Operator (Core Registration Expense)                     -                      -                      -                      -                      -                      -            595,900            446,925                      -         1,340,775            893,850            558,656            558,656            446,925            467,037            488,054            510,016            532,967            556,950         1,745,305         1,458,785            582,391         1,918,627         1,484,994         1,162,118          1,162,118                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                          -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                      -              558,656          1,162,118                      -                      -                        -  
 Accounts Payable as a % of Core Registry Expense (As Defined Above) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 50.0% 50.0% 0.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 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% 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% 50.0% 50.0% 0.0% 0.0% 0.0%
 Accounts Payable - Holding Days 15 15 15 15 15 15 15 15 15 15 15 15                    15 15 15 15 15 15 15 15 15 15 15 15 15                     15 15 15 15 15 15 15 15 15 15 15 15 15                     15 15 15 15 15 15 15 15 15 15 15 15 15                    15 15 15 15 15 15 15 15 15 15 15 15 15                      15                    15                     15                     15                    15                      15
 Accts Payable Labor              4,253             17,986             25,278             39,861              47,080              47,080              47,080              47,080              50,337              50,337              50,337            125,616            125,616              56,273              56,273              57,677              62,271              62,271              71,458              71,458              71,458              71,458              71,458            112,292            187,571             187,571            117,906            117,906            117,906            117,906            117,906            117,906            117,906            117,906            117,906            117,906            117,906            193,185             193,185            140,121            140,121            140,121            140,121            140,121            140,121            140,121            140,121            140,121            140,121            140,121            215,400            215,400              164,262            164,262            164,262              164,262              164,262              164,262              164,262              164,262              164,262              164,262              164,262              239,541              239,541            125,616             187,571             193,185            215,400              239,541
 Salaries Payable as a % of Total Salary Expense 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23.3% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23.3% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23.3% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23.3% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23% 23.3% 23.3% 23.3% 23.3% 23.3% 23.3%
 Salaries Payable - Holding Days 7 7 7 7 7 7 7 7 7 7 7 7                      7 7 7 7 7 7 7 7 7 7 7 7 7                       7 7 7 7 7 7 7 7 7 7 7 7 7                       7 7 7 7 7 7 7 7 7 7 7 7 7                      7 7 7 7 7 7 7 7 7 7 7 7 7                        7                      7                       7                       7                      7                        7
 Accts Payable (All OPS Expense Excluding Labor, Registry Operator, and Depr. & Amort.)          262,187           267,106           270,925           325,917            429,409            430,009            829,986            824,719         1,308,029         2,614,228         2,547,694         2,485,111         2,485,111            944,822            932,693            934,766            937,808            939,562            943,615            944,861            946,129            947,415            948,721            963,261            964,605             964,605            854,063            977,865            855,872            857,299            858,747            860,217            861,419            862,638            863,862            865,093            866,329            867,571             867,571            802,193            802,735         1,058,291            803,620            804,714            806,027            807,347            808,675            810,012            811,356            812,682            814,015            814,015              789,865            791,217            792,577           1,201,416              794,119              795,494              796,875              798,264              799,013              799,984              801,125              802,316              802,316         2,485,111             964,605             867,571            814,015              802,316
 Accounts Payable as a % of Ops Expense (As Defined Above) 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%
 Accounts Payable - Holding Days 15 15 15 15 15 15 15 15 15 15 15 15                    15 15 15 15 15 15 15 15 15 15 15 15 15                     15 15 15 15 15 15 15 15 15 15 15 15 15                     15 15 15 15 15 15 15 15 15 15 15 15 15                    15 15 15 15 15 15 15 15 15 15 15 15 15                      15                    15                     15                     15                    15                      15
 Other Current Assets                     -                      -                      -                      -                      -                      -               5,750              10,063              10,063              23,000              31,625              37,016              37,016              41,328              45,835              50,544              55,465              60,608              65,982              71,437              76,974              82,593              88,297              94,087              99,963               99,963            105,928            111,982            118,126            124,363            130,694            137,119            143,577            150,067            156,589            163,144            182,669            184,977             184,977            188,397            194,005            200,920            207,877            214,877            221,920            229,007            235,978            242,984            250,027            257,105            264,219            264,219              271,370            278,558            285,783              293,044              296,461              301,210              306,967              313,020              319,052              325,060              331,042              336,994              336,994              37,016               99,963             184,977            264,219              336,994
 Other Current Assets as a % of Revenue (Accrual) 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
 Other Current Liabilities                     -                      -                      -                      -                      -                      -               5,750              10,063              10,063              23,000              31,625              37,016              37,016              41,328              45,835              50,544              55,465              60,608              65,982              71,437              76,974              82,593              88,297              94,087              99,963               99,963            105,928            111,982            118,126            124,363            130,694            137,119            143,577            150,067            156,589            163,144            182,669            184,977             184,977            188,397            194,005            200,920            207,877            214,877            221,920            229,007            235,978            242,984            250,027            257,105            264,219            264,219              271,370            278,558            285,783              293,044              296,461              301,210              306,967              313,020              319,052              325,060              331,042              336,994              336,994              37,016               99,963             184,977            264,219              336,994
 Other Current Liabilities as a % of Revenue (Accrual) 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3.0% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3.0% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3.0% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3.0% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
                                                                                                                       
                                                                                                                                                               
gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM gTLD CONSORTIUM
Cash Flow Statement Cash Flow Statement Cash Flow Statement Cash Flow Statement Cash Flow Statement Cash Flow Statement
 gTLD CASH FLOW STATEMENT                            
 Year 1  Year 2  Year 3  Year 4  Year 5
1 2 3 4 5 6 7 8 9 10 11 12 Year 1 1 2 3 4 5 6 7 8 9 10 11 12 Year 2 1 2 3 4 5 6 7 8 9 10 11 12 Year 3 1 2 3 4 5 6 7 8 9 10 11 12 Year 4 1 2 3 4 5 6 7 8 9 10 11 12 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Total
 Cash From Operations:
 Net Income After Taxes         (542,602)          (622,746)          (669,551)          (843,136)        (1,080,690)        (1,081,238)        (1,784,668)        (1,716,313)        (2,705,246)        (5,099,617)        (4,831,658)        (4,939,343)      (25,916,809)        (1,488,515)        (1,389,676)        (1,322,961)        (1,272,836)        (1,195,903)        (1,157,803)        (1,172,840)        (1,186,869)        (1,096,787)        (1,150,897)        (1,498,284)        (1,734,041)        (15,667,411)           (938,490)           (906,512)           (378,304)             (90,306)              91,937            227,740            452,525            656,434            784,421         1,023,989         1,425,735         1,395,011          3,744,181         1,577,105         1,659,292         1,534,996         1,867,311         1,969,633         2,072,229         2,175,110         2,276,213         2,377,881         2,480,245         2,583,072         2,541,289       25,114,376           2,743,554         2,846,049         2,951,207           2,690,267           3,106,366           3,171,131           3,252,559           3,338,719           3,425,473           3,511,657           3,597,278           3,540,968         38,175,230      (25,916,809)        (15,667,411)          3,744,181       25,114,376         38,175,230        25,449,566
 Add-back:  Depreciation & Amortization                     -               5,139             14,417             16,569              17,347              18,125              18,125              18,125              18,125              18,417              18,417              18,417            181,222              18,417              18,708              18,708              18,806              19,278              19,278              20,667              20,667              20,667              20,667              20,667              29,000             245,528              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000              29,000             348,000              29,000              26,639              17,361              15,208              14,431              13,653              13,653              13,653              13,653              13,361              13,361              13,361            197,333                13,361              15,847              15,847                15,750                15,278                15,278                13,889                13,889                13,889                13,889                13,889                 5,556              166,361            181,222             245,528             348,000            197,333              166,361          1,138,444
 Change in Accounts Receivable                     -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                          -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                      -                      -                        -                        -                      -                        -                       -  
 Change in Pre-Paid Expense                     -                      -                      -                      -                      -                      -        (1,091,500)           (718,325)            175,525        (2,280,350)        (1,236,050)           (471,631)        (5,622,331)           (174,910)           (137,999)             (97,886)             (60,390)             (19,535)              24,398        (2,160,302)        (1,418,475)            430,728        (2,143,931)        (1,177,434)           (431,018)         (7,366,753)         1,817,603         1,738,641         1,656,182         1,570,070         1,480,141         1,386,225         1,096,274            854,090            757,986            439,190            192,681                      -         12,989,084                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                    -                          -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                      -          (5,622,331)         (7,366,753)         12,989,084                    -                        -                        (0)
 Change in Other Current Assets                     -                      -                      -                      -                      -                      -              (5,750)              (4,313)                      -             (12,938)              (8,625)              (5,391)             (37,016)              (4,313)              (4,507)              (4,709)              (4,921)              (5,143)              (5,374)              (5,455)              (5,537)              (5,620)              (5,704)              (5,790)              (5,876)              (62,947)              (5,964)              (6,054)              (6,145)              (6,237)              (6,330)              (6,425)              (6,458)              (6,490)              (6,522)              (6,555)             (19,525)              (2,308)              (85,014)              (3,419)              (5,609)              (6,915)              (6,957)              (7,000)              (7,043)              (7,087)              (6,971)              (7,006)              (7,042)              (7,078)              (7,115)             (79,242)                (7,151)              (7,188)              (7,224)                (7,261)                (3,417)                (4,749)                (5,757)                (6,054)                (6,032)                (6,008)                (5,982)                (5,953)               (72,775)             (37,016)              (62,947)              (85,014)             (79,242)               (72,775)            (336,994)
 Change in Accounts Payable          266,440             18,652             11,111             69,575            110,711                  600            995,878           (154,242)              39,641         2,646,974           (513,459)           (322,498)         3,169,383        (1,721,363)               7,983              24,494              29,598              24,706              37,224         1,189,600           (285,252)           (875,107)         1,337,541           (378,260)           (246,252)            (855,089)        (1,342,325)            123,802           (121,992)               1,427               1,448               1,470               1,202               1,218               1,224               1,230               1,236              76,521         (1,253,537)           (118,442)                  542            255,556           (254,671)               1,094               1,312               1,320               1,328               1,336               1,344               1,326              76,612             (31,342)               (75,288)               1,353               1,360              408,839             (407,297)                 1,375                 1,382                 1,389                    749                    972                 1,141                76,470                12,442         3,169,383            (855,089)         (1,253,537)             (31,342)                12,442          1,041,857
 Change in Unearned Revenue                     -                      -                      -                      -                      -                      -       11,327,500         8,300,125           (342,125)       10,137,250         6,204,250         3,291,156       38,918,156         2,238,427         2,251,868         2,262,915         2,283,073         2,300,883         2,317,077         2,202,528         2,086,346         1,968,507         1,848,999         1,727,797         1,604,877         25,093,297         1,480,117         1,353,486         1,224,952         1,094,492            962,073            827,673            639,207            449,837            259,558              68,377         7,207,528         4,570,756         20,138,056         2,543,962         1,738,067         1,652,110         1,570,129         1,492,320         1,418,934         1,350,200         1,195,011         1,039,502            883,676            727,544            571,108       16,182,563              414,370            257,341            100,023               (57,570)           5,347,686           3,464,555           2,001,629           1,396,885           1,327,415           1,262,666           1,202,887           1,148,341         17,866,228       38,918,156         25,093,297         20,138,056       16,182,563         17,866,228       118,198,301
 Change in Other Current Liabilities                     -                      -                      -                      -                      -                      -               5,750               4,313                      -              12,938               8,625               5,391              37,016               4,313               4,507               4,709               4,921               5,143               5,374               5,455               5,537               5,620               5,704               5,790               5,876               62,947               5,964               6,054               6,145               6,237               6,330               6,425               6,458               6,490               6,522               6,555              19,525               2,308               85,014               3,419               5,609               6,915               6,957               7,000               7,043               7,087               6,971               7,006               7,042               7,078               7,115              79,242                 7,151               7,188               7,224                 7,261                 3,417                 4,749                 5,757                 6,054                 6,032                 6,008                 5,982                 5,953                72,775                37,016                 62,947                 85,014                79,242                  72,775               336,994
 Total Cash Flow from Operations ($276,162) ($598,956) ($644,024) ($756,991) ($952,632) ($1,062,513) $9,465,335 $5,729,370 ($2,814,080) $5,422,674 ($358,500) ($2,423,899)       10,729,621 ($1,127,944) $750,885 $885,270 $998,250 $1,129,429 $1,240,174 $79,653 ($783,584) $448,008 ($87,621) ($1,305,514) ($777,435)          1,449,572 $1,045,906 $2,338,416 $2,409,838 $2,604,682 $2,564,600 $2,472,108 $2,218,209 $1,990,581 $1,832,190 $1,561,787 $8,856,181 $6,071,288         35,965,784 $4,031,625 $3,424,540 $3,460,023 $3,197,977 $3,477,478 $3,506,128 $3,540,283 $3,486,205 $3,432,372 $3,378,627 $3,325,303 $3,202,370       41,462,931 $3,095,997 $3,120,590 $3,068,437 $3,057,286 $8,062,033 $6,652,339 $5,269,459 $4,750,881 $4,767,526 $4,789,184 $4,815,195 $4,771,335         56,220,261       10,729,621          1,449,572         35,965,784       41,462,931         56,220,261       145,828,168
 Cash From Investing Activities:
 Capital Expenditures ($185,000) ($334,000) ($77,500) ($28,000) ($28,000) $0 $0 $0 ($10,500) $0 $0 $0           (663,000) ($10,500) $0 ($3,500) ($17,000) $0 ($50,000) $0 $0 $0 $0 ($300,000) $0            (381,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0                      -   ($100,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0           (100,000) ($100,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0             (100,000)           (663,000)            (381,000)                      -             (100,000)             (100,000)         (1,244,000)
                                                                                                                                                         
 Total Cash Flow from Investing Activities ($185,000) ($334,000) ($77,500) ($28,000) ($28,000) $0 $0 $0 ($10,500) $0 $0 $0           (663,000) ($10,500) $0 ($3,500) ($17,000) $0 ($50,000) $0 $0 $0 $0 ($300,000) $0            (381,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0                      -   ($100,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0           (100,000) ($100,000) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0             (100,000)           (663,000)            (381,000)                      -             (100,000)             (100,000)         (1,244,000)
 Cash Flow Before Financing ($461,162) ($932,956) ($721,524) ($784,991) ($980,632) ($1,062,513) $9,465,335 $5,729,370 ($2,824,580) $5,422,674 ($358,500) ($2,423,899)       10,066,621 ($1,138,444) $750,885 $881,770 $981,250 $1,129,429 $1,190,174 $79,653 ($783,584) $448,008 ($87,621) ($1,605,514) ($777,435)          1,068,572 $1,045,906 $2,338,416 $2,409,838 $2,604,682 $2,564,600 $2,472,108 $2,218,209 $1,990,581 $1,832,190 $1,561,787 $8,856,181 $6,071,288         35,965,784 $3,931,625 $3,424,540 $3,460,023 $3,197,977 $3,477,478 $3,506,128 $3,540,283 $3,486,205 $3,432,372 $3,378,627 $3,325,303 $3,202,370       41,362,931 $2,995,997 $3,120,590 $3,068,437 $3,057,286 $8,062,033 $6,652,339 $5,269,459 $4,750,881 $4,767,526 $4,789,184 $4,815,195 $4,771,335         56,120,261         10,066,621            1,068,572           35,965,784         41,362,931           56,120,261         134,517,548
 Cash Flow From Financing Activities:
 Proceeds from Equity Contributions
$4,790,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0         4,790,000 $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 $0 $0 $0                      -           4,790,000                      -                        -                      -                        -            4,790,000
$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 $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 $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                      -                      -                        -                        -                      -                        -                       -  
 Debt (Bank Loans) $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 $0 $0 $0                    -   $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0                      -                      -                        -                        -                      -                        -                       -  
 Debt (Other L-T) $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 $0 $0 $0                    -   $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0                      -                        -                          -                          -                        -                          -                         -  
 Total Cash Flow From Financing Activities $4,790,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0         4,790,000 $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 $0 $0 $0                      -           4,790,000                      -                        -                      -                        -            4,790,000
                                                                                                                                                         
 Cash Flow from Ops, Investing & Financing $4,328,838 ($932,956) ($721,524) ($784,991) ($980,632) ($1,062,513) $9,465,335 $5,729,370 ($2,824,580) $5,422,674 ($358,500) ($2,423,899)       14,856,621 ($1,138,444) $750,885 $881,770 $981,250 $1,129,429 $1,190,174 $79,653 ($783,584) $448,008 ($87,621) ($1,605,514) ($777,435)          1,068,572 $1,045,906 $2,338,416 $2,409,838 $2,604,682 $2,564,600 $2,472,108 $2,218,209 $1,990,581 $1,832,190 $1,561,787 $8,856,181 $6,071,288         35,965,784 $3,931,625 $3,424,540 $3,460,023 $3,197,977 $3,477,478 $3,506,128 $3,540,283 $3,486,205 $3,432,372 $3,378,627 $3,325,303 $3,202,370       41,362,931 $2,995,997 $3,120,590 $3,068,437 $3,057,286 $8,062,033 $6,652,339 $5,269,459 $4,750,881 $4,767,526 $4,789,184 $4,815,195 $4,771,335         56,120,261       14,856,621          1,068,572         35,965,784       41,362,931         56,120,261       149,374,168
 Beginning Cash Balance $0 $4,328,838 $3,395,882 $2,674,358 $1,889,367 $908,735 ($153,778) $9,311,556 $15,040,926 $12,216,346 $17,639,020 $17,280,520 $0 $14,856,621 $13,718,177 $14,469,062 $15,350,832 $16,332,082 $17,461,511 $18,651,685 $18,731,338 $17,947,754 $18,395,762 $18,308,141 $16,702,627 $14,856,621 $15,925,192 $16,971,098 $19,309,515 $21,719,352 $24,324,034 $26,888,634 $29,360,741 $31,578,950 $33,569,530 $35,401,720 $36,963,507 $45,819,688 $15,925,192 $51,890,976 $55,822,601 $59,247,141 $62,707,164 $65,905,142 $69,382,620 $72,888,748 $76,429,031 $79,915,236 $83,347,608 $86,726,235 $90,051,537 $51,890,976 $93,253,907 $96,249,904 $99,370,494 $102,438,931 $105,496,217 $113,558,250 $120,210,589 $125,480,048 $130,230,929 $134,998,455 $139,787,639 $144,602,833 $93,253,907 $0 $14,856,621 $15,925,192 $51,890,976 $93,253,907                     -  
 Net Increase/(Decrease) in Cash $4,328,838 ($932,956) ($721,524) ($784,991) ($980,632) ($1,062,513) $9,465,335 $5,729,370 ($2,824,580) $5,422,674 ($358,500) ($2,423,899) $14,856,621 ($1,138,444) $750,885 $881,770 $981,250 $1,129,429 $1,190,174 $79,653 ($783,584) $448,008 ($87,621) ($1,605,514) ($777,435) $1,068,572 $1,045,906 $2,338,416 $2,409,838 $2,604,682 $2,564,600 $2,472,108 $2,218,209 $1,990,581 $1,832,190 $1,561,787 $8,856,181 $6,071,288 $35,965,784 $3,931,625 $3,424,540 $3,460,023 $3,197,977 $3,477,478 $3,506,128 $3,540,283 $3,486,205 $3,432,372 $3,378,627 $3,325,303 $3,202,370 $41,362,931 $2,995,997 $3,120,590 $3,068,437 $3,057,286 $8,062,033 $6,652,339 $5,269,459 $4,750,881 $4,767,526 $4,789,184 $4,815,195 $4,771,335 $56,120,261 $14,856,621 $1,068,572 $35,965,784 $41,362,931 $56,120,261       149,374,168
 Ending Cash Balance $4,328,838 $3,395,882 $2,674,358 $1,889,367 $908,735 ($153,778) $9,311,556 $15,040,926 $12,216,346 $17,639,020 $17,280,520 $14,856,621 $14,856,621 $13,718,177 $14,469,062 $15,350,832 $16,332,082 $17,461,511 $18,651,685 $18,731,338 $17,947,754 $18,395,762 $18,308,141 $16,702,627 $15,925,192 $15,925,192 $16,971,098 $19,309,515 $21,719,352 $24,324,034 $26,888,634 $29,360,741 $31,578,950 $33,569,530 $35,401,720 $36,963,507 $45,819,688 $51,890,976 $51,890,976 $55,822,601 $59,247,141 $62,707,164 $65,905,142 $69,382,620 $72,888,748 $76,429,031 $79,915,236 $83,347,608 $86,726,235 $90,051,537 $93,253,907 $93,253,907 $96,249,904 $99,370,494 $102,438,931 $105,496,217 $113,558,250 $120,210,589 $125,480,048 $130,230,929 $134,998,455 $139,787,639 $144,602,833 $149,374,168 $149,374,168   $14,856,621   $15,925,192   $51,890,976   $93,253,907   $149,374,168         149,374,168
 TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE  TRUE