REVENUE WATERFALL	Month			1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30	31	32	33	34	35	36	37	38	39	40	41	42	43	44	45	46	47	48
	Source	Dest	Sub Term
REVENUE WATERFALL
Sales Dollars			Sub Term	-	-	-	-	-	-	4,200,000	4,200,000	3,600,000	1,116,000	1,149,480	1,183,968	1,243,164	1,305,324	1,370,592	1,439,124	1,511,076	1,586,628	1,697,688	1,816,524	1,943,676	2,079,732	2,225,316	2,381,088	2,381,088	2,381,088	2,381,088	2,381,088	2,381,088	2,381,088	5,531,088	5,531,088	5,081,088	3,218,088	3,243,198	3,269,064	3,551,565	3,729,141	3,833,100	3,940,599	4,051,791	4,166,823	4,309,650	4,459,509	4,616,817	4,782,039	4,955,667	5,138,232
Revenue Layer			2	-	-	-	-	-	-	175,000	175,000	150,000	46,500	47,895	49,332	51,799	54,389	57,108	59,964	62,962	66,110	70,737	75,689	80,987	86,656	92,722	99,212	99,212	99,212	99,212	99,212	99,212	99,212	230,462	230,462	211,712	134,087	135,133	136,211	147,982	155,381	159,713	164,192	168,825	173,618	179,569	185,813	192,367	199,252	206,486	214,093

1				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2					-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
3						-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
4							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
5								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
6									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
7										175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
8											175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	175,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
9												150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
10													46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	46,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
11														47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	47,895	-	-	-	-	-	-	-	-	-	-	-	-	-	-
12															49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	49,332	-	-	-	-	-	-	-	-	-	-	-	-	-
13																51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	51,799	-	-	-	-	-	-	-	-	-	-	-	-
14																	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	54,389	-	-	-	-	-	-	-	-	-	-	-
15																		57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	57,108	-	-	-	-	-	-	-	-	-	-
16																			59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	59,964	-	-	-	-	-	-	-	-	-
17																				62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	62,962	-	-	-	-	-	-	-	-
18																					66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	66,110	-	-	-	-	-	-	-
19																						70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	70,737	-	-	-	-	-	-
20																							75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	75,689	-	-	-	-	-
21																								80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	80,987	-	-	-	-
22																									86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	86,656	-	-	-
23																										92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	92,722	-	-
24																											99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	-
25																												99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
26																													99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
27																														99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
28																															99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
29																																99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
30																																	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212	99,212
31																																		230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462
32																																			230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462	230,462
33																																				211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712	211,712
34																																					134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087	134,087
35																																						135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133	135,133
36																																							136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211	136,211
37																																								147,982	147,982	147,982	147,982	147,982	147,982	147,982	147,982	147,982	147,982	147,982	147,982
38																																									155,381	155,381	155,381	155,381	155,381	155,381	155,381	155,381	155,381	155,381	155,381
39																																										159,713	159,713	159,713	159,713	159,713	159,713	159,713	159,713	159,713	159,713
40																																											164,192	164,192	164,192	164,192	164,192	164,192	164,192	164,192	164,192
41																																												168,825	168,825	168,825	168,825	168,825	168,825	168,825	168,825
42																																													173,618	173,618	173,618	173,618	173,618	173,618	173,618
43																																														179,569	179,569	179,569	179,569	179,569	179,569
44																																															185,813	185,813	185,813	185,813	185,813
45																																																192,367	192,367	192,367	192,367
46																																																	199,252	199,252	199,252
47																																																		206,486	206,486
48																																																			214,093


Total Recognized				-	-	-	-	-	-	175,000	350,000	500,000	546,500	594,395	643,727	695,526	749,914	807,022	866,986	929,947	996,057	1,066,794	1,142,482	1,223,469	1,310,124	1,402,846	1,502,058	1,601,270	1,700,482	1,799,694	1,898,906	1,998,118	2,097,330	2,152,792	2,208,254	2,269,966	2,357,553	2,444,791	2,531,670	2,627,853	2,728,846	2,831,450	2,935,678	3,041,541	3,149,049	3,257,881	3,368,006	3,479,386	3,591,983	3,705,747	3,820,628


In Period Deferred Contribution				-	-	-	-	-	-	4,025,000	3,850,000	3,100,000	569,500	555,085	540,241	547,639	555,410	563,570	572,139	581,129	590,572	630,895	674,042	720,208	769,608	822,471	879,031	779,819	680,607	581,395	482,183	382,971	283,759	3,378,297	3,322,835	2,811,123	860,536	798,407	737,394	923,712	1,000,296	1,001,650	1,004,921	1,010,250	1,017,774	1,051,769	1,091,504	1,137,431	1,190,057	1,249,920	1,317,604

Deferred Balance				-	-	-	-	-	-	4,025,000	7,875,000	10,975,000	11,544,500	12,099,585	12,639,826	13,187,465	13,742,875	14,306,445	14,878,583	15,459,712	16,050,284	16,681,178	17,355,220	18,075,428	18,845,036	19,667,506	20,546,537	21,326,355	22,006,962	22,588,356	23,070,539	23,453,509	23,737,268	27,115,564	30,438,399	33,249,521	34,110,057	34,908,464	35,645,858	36,569,570	37,569,865	38,571,515	39,576,436	40,586,686	41,604,460	42,656,229	43,747,732	44,885,163	46,075,219	47,325,139	48,642,743



RENEWAL REVENUE WATERFALL	Source	Dest	Sub Term	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30	31	32	33	34	35	36	37	38	39	40	41	42	43	44	45	46	47	48




Total renewal revenue				0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,150,000	3,150,000	2,700,000	837,000	862,110	887,976	932,373	978,993	1,027,944	1,079,343	1,133,307	1,189,971	1,273,266	1,362,393	1,457,757	1,559,799	1,668,987	1,785,816

Revenue Layer			2	-	-	-	-	-	-	-	-	-	-	-	-													-	-	-	-	-	-	131,250	131,250	112,500	34,875	35,921	36,999	38,849	40,791	42,831	44,973	47,221	49,582	53,053	56,766	60,740	64,992	69,541	74,409

1																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
3																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
4																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
5																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
6																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
7																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
8																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
9																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
10																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
11																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
12																-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
13																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
14																		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
15																			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
16																				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
17																					-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
18																						-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
19																							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
20																								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
21																									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
22																										-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
23																											-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
24																												-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,623																												-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,655																													-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,681																														-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,713																															-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,743																																-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,774																																	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
37,804																																		131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250
37,835																																			131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250	131,250
37,866																																				112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500	112,500
37,896																																					34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875	34,875
37,927																																						35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921	35,921
37,957																																							36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999	36,999
37,988																																								38,849	38,849	38,849	38,849	38,849	38,849	38,849	38,849	38,849	38,849	38,849	38,849
38,019																																									40,791	40,791	40,791	40,791	40,791	40,791	40,791	40,791	40,791	40,791	40,791
38,048																																										42,831	42,831	42,831	42,831	42,831	42,831	42,831	42,831	42,831	42,831
38,079																																											44,973	44,973	44,973	44,973	44,973	44,973	44,973	44,973	44,973
38,109																																												47,221	47,221	47,221	47,221	47,221	47,221	47,221	47,221
38,140																																													49,582	49,582	49,582	49,582	49,582	49,582	49,582
38,170																																														53,053	53,053	53,053	53,053	53,053	53,053
38,201																																															56,766	56,766	56,766	56,766	56,766
38,232																																																60,740	60,740	60,740	60,740
38,262																																																	64,992	64,992	64,992
38,293																																																		69,541	69,541
38,322																																																			74,409


Total Recognized				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	131,250	262,500	375,000	409,875	445,796	482,795	521,644	562,436	605,267	650,239	697,460	747,042	800,095	856,862	917,601	982,593	1,052,134	1,126,543


In Period Deferred Contribution				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,018,750	2,887,500	2,325,000	427,125	416,314	405,181	410,729	416,558	422,678	429,104	435,847	442,929	473,171	505,532	540,156	577,206	616,853	659,273

Deferred Balance				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,018,750	5,906,250	8,231,250	8,658,375	9,074,689	9,479,870	9,890,598	10,307,156	10,729,833	11,158,937	11,594,784	12,037,713	12,510,884	13,016,415	13,556,571	14,133,777	14,750,630	15,409,902