|
|
|
|
|
|
|
|
|
|
|
| RegistryPro PROFIT & LOSS |
|
|
|
2001 |
|
2002 |
|
2003 |
|
2004 |
|
Total |
|
| New
Registrations |
314,981 |
|
686,658 |
|
952,428 |
|
1,202,820 |
|
3,156,887 |
| Renewals |
|
0 |
|
0 |
|
236,236 |
|
514,994 |
|
751,230 |
|
$ |
|
$ |
|
$ |
|
$ |
|
$ |
| Revenue |
|
$618,849 |
|
$3,877,262 |
|
$9,414,649 |
|
$17,423,048 |
|
$31,333,808 |
| Cost
of Revenue |
$878,400 |
|
$966,240 |
|
$1,054,080 |
|
$1,141,920 |
|
$4,040,640 |
| Gross
Margin |
($259,551) |
|
$2,911,022 |
|
$8,360,569 |
|
$16,281,128 |
|
$27,293,168 |
|
|
|
|
|
|
| Cumulative
Gross Margin |
($259,551) |
|
$2,651,471 |
|
$11,012,040 |
|
$27,293,168 |
|
$40,697,128
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales
& Marketing |
$14,610,839 |
|
$1,495,240 |
|
$1,522,080 |
|
$1,548,920 |
|
$19,177,079
|
| General
& Administrative |
$5,645,286 |
|
$3,352,994 |
|
$3,561,838 |
|
$3,779,979 |
|
$16,340,097
|
| Operating
Expenses |
$20,256,125
|
|
$4,848,234 |
|
$5,083,918 |
|
$5,328,899 |
|
$35,517,176
|
|
|
|
|
|
|
|
|
|
|
| EBITDA |
|
($20,515,676) |
|
($1,937,212) |
|
$3,276,651 |
|
$10,952,229 |
|
($8,224,008) |
|
|
|
|
|
|
| D&A |
|
$2,236,111 |
|
$2,253,333 |
|
$2,253,333 |
|
$17,222 |
|
$6,759,999 |
|
|
|
|
|
|
|
|
|
|
| EBIT |
|
($22,751,787) |
|
($4,190,545) |
|
$1,023,318 |
|
$10,935,007 |
|
($14,984,007) |
|
|
|
|
|
|
| Bank
Interest |
$728,236 |
|
$1,805,954 |
|
$1,418,664 |
|
$232,620 |
|
$4,185,474 |
|
|
|
|
|
|
|
|
|
|
| Pretax
Profit |
($23,480,023) |
|
($5,996,499) |
|
($395,346) |
|
$10,702,387 |
|
($19,169,481) |
|
|
|
|
|
|
| Estimated
Stockholder Taxes |
$0 |
|
$0 |
|
$0 |
|
$0 |
|
$0 |
|
|
|
|
|
|
| Estimated
Consortium Net Income |
($23,480,023) |
|
($5,996,499) |
|
($395,346) |
|
$10,702,387 |
|
($19,169,481) |
|
|
|
|
|
|
| Cumulative
Net Income |
($23,480,023) |
|
($29,476,522) |
|
($29,871,868) |
|
($19,169,481) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RegistryPro |
|
|
|
|
|
|
| Cashflow
statement |
2001 |
|
2002 |
|
2003 |
|
2004 |
|
Total |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
$ |
| Profit
from ordinary activities |
($23,480,023) |
|
($5,996,499) |
|
($395,346) |
|
$10,702,387 |
|
($19,169,481) |
| add back: |
|
|
|
|
|
|
|
|
|
| depreciation |
$2,236,111 |
|
$2,253,333 |
|
$2,253,333 |
|
$17,222 |
|
$6,759,999 |
| interest |
|
$728,236 |
|
$1,805,954 |
|
$1,418,664 |
|
$232,620 |
|
$4,185,474 |
| movement
in debtors |
($278,228) |
|
($281,323) |
|
($208,671) |
|
($439,250) |
|
($1,207,472) |
| movement
in creditors |
$102,638 |
|
($53,987) |
|
$472 |
|
$210 |
|
$49,333 |
| deferred
expense |
$0 |
|
$0 |
|
$0 |
|
$0 |
|
$0 |
| deferred
income |
$3,160,924 |
|
$4,362,634 |
|
$5,313,452 |
|
$6,098,661 |
|
$18,935,671
|
| Adjusted
profit |
($17,530,342) |
|
$2,090,112 |
|
$8,381,904 |
|
$16,611,850
|
|
$9,553,524 |
|
|
|
|
|
|
|
|
| Financing
costs |
|
| Interest
paid |
($728,236) |
|
($1,805,954) |
|
($1,418,664) |
|
($232,620) |
|
($4,185,474) |
|
|
|
|
|
|
| Taxation |
|
|
| VAT |
|
($254,297) |
|
$638,204 |
|
$212,273 |
|
$3,264,928 |
|
$3,861,108 |
| Corporation
tax/paye |
$82,512 |
|
$7,605 |
|
$7,605 |
|
$7,605 |
|
$105,327 |
|
|
($171,785) |
|
$645,809 |
|
$219,878 |
|
$3,272,533 |
|
$3,966,435 |
|
|
|
| Capital
expenditure |
|
| Systems
development |
($5,090,000) |
|
$0 |
|
$0 |
|
$0 |
|
($5,090,000) |
| Fixtures
and fittings |
($420,000) |
|
$0 |
|
$0 |
|
$0 |
|
($420,000) |
| Other |
|
($1,250,000) |
|
$0 |
|
$0 |
|
$0 |
|
($1,250,000) |
|
|
($6,760,000) |
|
$0 |
|
$0 |
|
$0 |
|
($6,760,000) |
|
|
|
| Financing |
|
|
| Share
capital/Long term finance |
$10,000,000 |
|
$0 |
|
$0 |
|
$0 |
|
$10,000,000
|
|
|
$10,000,000
|
|
$0 |
|
$0 |
|
$0 |
|
$10,000,000
|
|
|
|
| Net
cash flow |
($15,190,363) |
|
$929,967
|
|
$7,183,118
|
|
$19,651,763
|
|
$12,574,485
|
|
|
|
| Cumulative |
($15,190,363) |
|
($14,260,396) |
|
($7,077,278) |
|
$12,574,485 |
|
|
| Registrypro |
|
| Balance
Sheet |
2001 |
|
2002 |
|
2003 |
|
2004 |
|
|
|
$ |
|
$ |
|
$ |
|
$ |
|
| Fixed
assets |
|
| Computer
systems/development |
$4,243,889 |
|
$2,130,556 |
|
$17,222 |
|
$0 |
|
| Fixtures
& fittings |
$280,000 |
|
$140,000 |
|
$0 |
|
$0 |
|
| Total
fixed assets |
$4,523,889 |
|
$2,270,556 |
|
$17,222 |
|
$0 |
|
|
|
|
| Current
assets |
|
|
| Debtors |
|
$278,228 |
|
$559,551 |
|
$768,223 |
|
$1,207,473 |
|
| Other
debtors |
$0 |
|
$0 |
|
$0 |
|
$0 |
|
| Cash
at bank and in hand |
($15,190,365) |
|
($14,260,398) |
|
($7,077,279) |
|
$12,574,483 |
|
| Deferred
expenses |
$0 |
|
$0 |
|
$0 |
|
$0 |
|
| Current
assets |
($14,912,137) |
|
($13,700,847) |
|
($6,309,056) |
|
$13,781,956
|
|
|
|
|
| Current
liabilities |
|
|
| Creditors |
|
($102,638) |
|
($48,651) |
|
($49,123) |
|
($49,334) |
|
| Accruals |
|
$0 |
|
$0 |
|
$0 |
|
$0 |
|
| VAT |
|
$254,297 |
|
($383,906) |
|
($596,179) |
|
($3,861,107) |
|
| PAYE |
|
($82,512) |
|
($90,117) |
|
($97,722) |
|
($105,328) |
|
| Corporation
tax |
$0 |
|
$0 |
|
$0 |
|
$0 |
|
| Deferred
income |
($3,160,924) |
|
($7,523,558) |
|
($12,837,010) |
|
($18,935,671) |
|
| Current
liabilities |
($3,091,777) |
|
($8,046,232) |
|
($13,580,034) |
|
($22,951,440) |
|
|
|
|
|
|
|
| NET
ASSETS |
($13,480,025) |
|
($19,476,523) |
|
($19,871,868) |
|
($9,169,484) |
|
|
|
|
| Ordinary
share capital/Long term finance |
$10,000,000 |
|
$10,000,000 |
|
$10,000,000 |
|
$10,000,000 |
|
| Profit
and loss - b/f |
($22,528,835) |
|
($29,158,885) |
|
($30,145,389) |
|
($20,507,399) |
|
| Profit
and loss - current |
($951,189) |
|
($317,638) |
|
$273,520 |
|
$1,337,916 |
|
|
|
|
| SHAREHOLDERS
FUNDS |
($13,480,024) |
|
($19,476,523) |
|
($19,871,869) |
|
($9,169,483) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|