Adtop Inc.

Executive Summary
Opportunity
Opportunity

In the face of ad blocking and ever more inventive ways of not viewing Digital
ads, Out of Home (OOH) advertising / Digital Out of Home (DOOH) is growing
rapidly. However, growing the number of OOH /DOOH sites signs is relatively
difficult. Consider how easy it is to add a Highway Billboard sign?  Or a sign to
the side of a building? It is because of this that Place Based OOH / DOOH is a
new frontier that can be scaled rapidly. In addition, media planners are
continuing to increase focus on OOH / DOOH and DPA (digital place based
advertising) in particular because it allows higher resolution audience tracking
insights and cannot be blocked.

The METT is positioned in the most ubiquitous public space venue in the
country, restaurants. With nearly 300,000 full service restaurants in the U.S.
comprising some 6,000,000 tables, the opportunity for engagement is nearly
boundless. Considering the dwell time of nearly one hour, advertisers are keen
to communicate with consumers during this time. Demographic data can be
provided by first party data, zip code analysis, and other sensor data (e.g.
computer vision mac addresses counting, and software SDK embedded into
mobile apps.)

Solution

The mobile engagement table tent (METT) is a DPA / DOOH / IOT advertising
screen that is connected to the programmatic advertising network that also
happens to charge the viewers phone.

The METT will deliver:

1. Unprecedented incremental reach for brands.

2. Audience tracking data (used for venues & advertisers).

3. Digital POP that can be leveraged by the venue for marketing purposes.

4. A RevShare of the ad revenue

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5. A sought after amenity for restaurant goers (phone charging).

Market

Primary Target Market:

• Programmatic Ad buyers
• Direct Ad buyers / brands / media agencies
• Distribution Partners: National & Independent Restaurants 

Market size data (U.S.)

~ 6,000,000 Full service restaurant tables

~300,000 Full service restaurants

Competition

Restaurant tablets such as: Ziosk, El La Carte Presto and Buzztime.

• These players do offer advertising, but they are primarily concerned with
bill pay and gaming. Additionally their single digit market share of the
restaurant category suggests the mark has been missed.
• Some research has shown that full service restaurants are resistant to
using tablets as a substitute for the human touch. Additionally, these
devices are sold / leased, so they must prove their ROI. 
• The METT doesn't have to prove an ROI since it is free to the venue.
• The METT offers a simple in-demand utility - phone charging, the
competition does not.

Why Us?

• Deep contacts in the hospitality industry

• Expertise in business development
• Expertise in product development
• Strong development partners (Marriott / Acosta/ AdMyTv / Best Buy )
• The secret sauce

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Expectations
Forecast

Phase 1 - Pilot test to prove the programmatic ad revenue stream of $300 per
month per screen:

A. - 25 Test units deployed to New York Marriott Marquis

B. ~ Approx 100 additional units deployed to 4 additional Marriott hotels in NYC,

+ 100 deployed in various restaurant locations around NYC.

C. Revenue expectations will take approx 90 day to prove out for each
deployment.

Revenue = $60,000 per months when 200 units are deployed and generating
revenue.

Phase 2  / Year 1- Deploy 10,000 tables / approx 1,000 units per month for 12
months.

Revenue = $3,000,000 per month when 10,000 units are deployed and
generating revenue.

Year 2 - Deploy 12,000 tables

Revenue = $6,600,000 per month when 22,000 units are deployed and
generating revenue.

Year 3 - Deploy 14,400 tables

Revenue = $10,920,000 per month when 36,400 units are deployed and
generating revenue.

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Financial Highlights by Year

Financing Needed

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Opportunity
Problem & Solution
Problem Worth Solving

In the face of ad blocking and ever more inventive ways of not viewing Digital
ads, Out of Home (OOH) advertising / Digital Out of Home (DOOH) is growing
rapidly. However, growing the number of OOH /DOOH sites signs is relatively
difficult. Consider how easy it is to add a Highway Billboard sign?  Or a sign to
the side of a building? It is because of this that Place Based OOH / DOOH is a
new frontier that can be scaled rapidly. In addition, media planners are
continuing to increase focus on OOH / DOOH and DPA (digital place based
advertising) in particular because it allows higher resolution audience tracking
insights and cannot be blocked.

Our solution

The mobile engagement table tent (METT) is an DPA / DOOH / IOT advertising
screen that is connected to the programmatic advertising network that also
happens to charge the viewers phone.

The METT will deliver:

1. Unprecedented incremental reach for brands.

2. Audience tracking data (used for venues & advertisers).

3. Digital POP that can be leveraged by the venue for marketing purposes.

4. A RevShare of the ad revenue

5. A sought after amenity for restaurant goers (phone charging).

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Target Market
Primary Target Market:

• Programmatic Ad buyers
• Direct Ad buyers / brands / media agencies
• Distribution Partners: National & Independent Restaurants 

Market size data (U.S.)

~ 6,000,000 Full service restaurant tables

~300,000 Full service restaurants

Based on very conservative advertising rates ($4.50 cpm) this opportunity is

~$20 Billion a year for restaurants alone. (Note* - This does outpace the current
market in revenue for DOOH)

Competition
Current alternatives

Restaurant tablets such as: Ziosk, El La Carte Presto and Buzztime.

These players offer advertising, bill pay, and gaming, but have missed the
opportunity to provide the much sought after amenity of phone charging. The
argument can be made that payment processing and gaming are low value
utilities as those functions can be handled on the users mobile device.

Additionally, the above competitors are charging the venue owner / operator,
our solution would be free, cash generating, and data insights creating.

Our advantages

We are offering a:

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 Adtop Inc.

1. No cost high value utility

2. Generates cash

3. Increases customer advocacy / engagement

4. Provides actionable data insights from audience tracking.

Its like a reverse cable company model. There is zero upfront payment for the
hardware and we pay you each month!

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Execution
Marketing & Sales
Marketing Plan

Direct Marketing:

1. Outreach to national brands like Marriott and other hotel brands where we
have strong relationships.

Partner Marketing:

1. . Acosta - Sales and Marketing Agency that have a sales-force in the restaurant
vertical.

2. Best Buy for Business - Have a sales-force in the large national brand
restaurant and hotel industry.

Sales Plan

Acosta will approach its thousands of existing restaurant customers to promote

the METT platform and gain placement. (Primarily within independent and small
unit operators)

Best Buy for Business will approach its national chain / brand customers to
promote the METT and gain placement.

METT will directly approach other national targets in the hotel and restaurant
space.

Acosta and Best Buy will be paid a commission fee of 5% per unit for month for 2
years. A follow on maintenance / commission fee of 2% per month will be paid
to continually check the status and verify that all units are up and running, and
in clean working order. This will be part of an SLA or Service Level Agreement
with both parties.

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Operations
Locations & Facilities

1. The manufacturing of the product will be done at our OEM factories as with
our current products.

2. Distribution will be by our 3PL based in Hong Kong as it is currently done. 

3. Deployment, set-up, and support of METT devices will be handled by the Best
Buy Geek Squad and or the deployment ease will be such that units can be
unboxed and powered up by the venue itself.

4. METT Inc has offices in New York City and Long Island, with warehousing
space in Los Angeles.

Technology

On the hardware side, the METT device is composed of display screen (LED), a
single board computer, battery pack, and wireless charging pad. On the software
side, the METT utilizes a content management system (CRM), to schedule and
play ad content. It also contains and API to measure charging session frequency
and duration.

Equipment & Tools

We will need to acquire a server to host all ad content.

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 Adtop Inc.

Milestones & Metrics

Milestones Table

Milestone Due Date Who's Responsible Details

First Functional Completed P.I., Art / Tri Done

prototypes

First 25 pilot test units Completed PI, Art, Tri, AdMeTv

recieved

First prototypes Completed Dave, Tri, Art, Dave 25 Mett Screen deployed
deployed at Marriott Rossi, Nelson at NY Marriott Marquis

Protoypes proof of Completed AdMeTv / Dave U

Reveue generation

MP Start December 01, 2020 Team

Key metrics

1. METT device generating $300 per month per screen

2. Private market place sales (PMP)

3. Monthly maintenance / operating costs

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Company
Overview
Ownership & Structure

Pty Ltd Structure

Garry Ramler - 52%

Paul Tuininga - 24%

Dave Weinstein - 24%

Company history

Team
Management team

Garry Ramler – Chairman

Dave Weinstein - CEO

Paul Tuininga - CFO

Tri Le - Head of Product

Art Serrano - Head of R&D

George Du - Head of Manufacturing

Advisors

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Financial Plan
Forecast
Key assumptions

294, 000 Full service restaurants in the U.S.

20 tables average per location

5,888,000 total tables

Programmatic ad  revenue expectation is $300 per month per screen (PMPS)

~$20 Billion market opportunity

BOM Cost per screen: $255 (amortized into a monthly cost)

Monthly operating cost per unit: $36

Revenue by Month

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Expenses by Month

Net Profit (or Loss) by Year

Financing
Use of funds

Product development

Research & Development

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Headcount

Operational Costs

Sources of Funds

Private equity 

Statements
Projected Profit and Loss

2020 2021 2022

Revenue $12,624,106 $45,719,623 $69,565,325

Direct Costs $7,872,771 $27,012,677 $41,101,513

Gross Margin $4,751,336 $18,706,946 $28,463,812

Gross Margin % 38% 41% 41%

Operating Expenses
Salaries & Wages $1,268,753 $3,400,000 $4,770,003

Employee Related Expenses $317,188 $850,000 $1,192,501

Office Rent $75,000 $90,000 $90,000

Computers $18,000 $36,000 $54,000

Phones $6,600 $64,800 $129,600

SG&A (5% of sales) $631,205 $2,285,981 $3,478,267

Total Operating Expenses $2,316,747 $6,726,781 $9,714,370

Operating Income $2,434,589 $11,980,165 $18,749,442

Interest Incurred

Depreciation and Amortization

Gain or Loss from Sale of Assets

Income Taxes $486,918 $2,396,033 $3,749,888

Total Expenses $10,676,435 $36,135,492 $54,565,770

Net Profit $1,947,671 $9,584,132 $14,999,554
Net Profit / Sales 15% 21% 22%

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Projected Balance Sheet

Starting Balances 2020 2021 2022

Cash $1,687,756 $9,414,058 $23,469,621

Accounts Receivable $2,085,107 $5,238,752 $6,826,913

Inventory

Other Current Assets

Total Current
$3,772,862 $14,652,810 $30,296,535
Assets
Long-Term Assets

Accumulated
Depreciation

Total Long-Term
Assets

Total Assets $3,772,862 $14,652,810 $30,296,535

Accounts Payable $373,598 $936,416 $1,220,744

Income Taxes Payable $297,141 $796,536 $1,038,737

Sales Taxes Payable $154,452 $388,055 $505,697

Short-Term Debt

Prepaid Revenue $0 $0 $0 $0

Total Current
$0 $825,191 $2,121,007 $2,765,178
Liabilities
Long-Term Debt

Long-Term
Liabilities

Total Liabilities $0 $825,191 $2,121,007 $2,765,178

Paid-In Capital $1,000,000 $1,000,000 $1,000,000

Retained Earnings $0 $0 $1,947,671 $11,531,803

Earnings $1,947,671 $9,584,132 $14,999,554

Total Owner's
$0 $2,947,671 $12,531,803 $27,531,357
Equity

Total Liabilities &

$0 $3,772,862 $14,652,810 $30,296,535
Equity

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Projected Cash Flow Statement

2020 2021 2022

Net Cash Flow from Operations

Net Profit $1,947,671 $9,584,132 $14,999,554

Depreciation & Amortization

Change in Accounts Receivable ($2,085,107) ($3,153,645) ($1,588,161)

Change in Inventory

Change in Accounts Payable $373,598 $562,818 $284,327

Change in Income Tax Payable $297,141 $499,395 $242,201

Change in Sales Tax Payable $154,452 $233,603 $117,642

Change in Prepaid Revenue $0 $0 $0

Net Cash Flow from Operations $687,756 $7,726,303 $14,055,563

Investing & Financing

Assets Purchased or Sold

Net Cash from Investing

Investments Received $1,000,000

Dividends & Distributions

Change in Short-Term Debt

Change in Long-Term Debt

Net Cash from Financing $1,000,000

Cash at Beginning of Period $0 $1,687,756 $9,414,058

Net Change in Cash $1,687,756 $7,726,303 $14,055,563

Cash at End of Period $1,687,756 $9,414,058 $23,469,621

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Appendix
Profit and Loss Statement (With monthly detail)
2020 Jan '20 Feb '20 Mar '20 Apr '20 May '20 June '20 July '20 Aug '20 Sept '20 Oct '20 Nov '20 Dec '20

Total Revenue $150,000 $285,000 $406,500 $515,850 $764,265 $987,839 $1,189,054 $1,370,149 $1,533,135 $1,679,820 $1,811,839 $1,930,655

Total Direct
$252,291 $329,354 $398,709 $294,465 $436,268 $563,891 $678,752 $809,530 $905,826 $992,495 $1,070,494 $1,140,696
Costs

Gross Margin ($102,291) ($44,354) $7,790 $221,386 $327,997 $423,947 $510,303 $560,619 $627,307 $687,327 $741,344 $789,960

Gross Margin % (68%) (16%) 2% 43% 43% 43% 43% 41% 41% 41% 41% 41%

Operating
Expenses

Salaries and Wages $58,333 $58,333 $102,082 $116,665 $116,665 $116,665 $116,665 $116,665 $116,670 $116,670 $116,670 $116,670

Employee Related
$14,583 $14,584 $25,520 $29,166 $29,167 $29,166 $29,166 $29,166 $29,168 $29,167 $29,168 $29,167
Expenses

Office Rent $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500

Computers $18,000

Phones $400 $400 $400 $600 $600 $600 $600 $600 $600 $600 $600 $600

SG&A (5% of sales) $7,500 $14,250 $20,325 $25,793 $38,213 $49,392 $59,452 $68,508 $76,657 $83,991 $90,592 $96,532

Total Operating
$98,816 $87,567 $155,827 $179,724 $192,144 $203,323 $213,384 $222,439 $230,594 $237,929 $244,529 $250,471
Expenses

Operating
($201,107) ($131,920) ($148,037) $41,662 $135,852 $220,624 $296,919 $338,181 $396,713 $449,398 $496,815 $539,489
Income

Interest Incurred

Depreciation and
Amortization

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Gain or Loss from

Sale of Assets

Income Taxes $0 $0 $0 $0 $0 $0 $42,799 $67,636 $79,342 $89,880 $99,363 $107,898

Total Expenses $351,107 $416,920 $554,537 $474,188 $628,413 $767,214 $934,935 $1,099,605 $1,215,763 $1,320,302 $1,414,388 $1,499,063

Net Profit ($201,107) ($131,920) ($148,037) $41,662 $135,852 $220,624 $254,120 $270,545 $317,371 $359,518 $397,452 $431,591

Net Profit /
(134%) (46%) (36%) 8% 18% 22% 21% 20% 21% 21% 22% 22%
Sales

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2021 Jan '21 Feb '21 Mar '21 Apr '21 May '21 June '21 July '21 Aug '21 Sept '21 Oct '21 Nov '21 Dec '21

Total Revenue $2,337,589 $2,703,831 $3,033,447 $3,330,103 $3,597,092 $3,837,384 $4,053,644 $4,248,281 $4,423,452 $4,581,107 $4,722,997 $4,850,696

Total Direct
$1,381,125 $1,597,513 $1,792,262 $1,967,536 $2,125,282 $2,267,254 $2,395,028 $2,510,026 $2,613,523 $2,706,671 $2,790,504 $2,865,953
Costs

Gross Margin $956,464 $1,106,317 $1,241,186 $1,362,567 $1,471,810 $1,570,129 $1,658,616 $1,738,255 $1,809,929 $1,874,436 $1,932,493 $1,984,743

Gross Margin % 41% 41% 41% 41% 41% 41% 41% 41% 41% 41% 41% 41%

Operating
Expenses

Salaries and Wages $283,324 $283,324 $283,324 $283,324 $283,325 $283,325 $283,331 $283,331 $283,348 $283,348 $283,348 $283,348

Employee Related
$70,831 $70,831 $70,831 $70,831 $70,832 $70,831 $70,833 $70,832 $70,837 $70,837 $70,837 $70,837
Expenses

Office Rent $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500

Computers $36,000

Phones $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400

SG&A (5% of sales) $116,880 $135,191 $151,673 $166,505 $179,854 $191,870 $202,682 $212,414 $221,172 $229,056 $236,150 $242,534

Total Operating
$519,934 $502,247 $518,727 $533,560 $546,911 $558,925 $569,746 $579,478 $588,258 $596,140 $603,235 $609,620
Expenses

Operating
$436,529 $604,071 $722,458 $829,007 $924,899 $1,011,204 $1,088,871 $1,158,777 $1,221,671 $1,278,296 $1,329,258 $1,375,124
Income

Interest Incurred

Depreciation and
Amortization

Gain or Loss from

Sale of Assets

Income Taxes $87,306 $120,814 $144,491 $165,802 $184,980 $202,240 $217,775 $231,755 $244,334 $255,659 $265,852 $275,025

Total Expenses $1,988,366 $2,220,574 $2,455,480 $2,666,898 $2,857,173 $3,028,419 $3,182,550 $3,321,258 $3,446,115 $3,558,470 $3,659,590 $3,750,599

Net Profit $349,223 $483,257 $577,967 $663,205 $739,919 $808,964 $871,096 $927,022 $977,337 $1,022,637 $1,063,406 $1,100,099

Net Profit /
15% 18% 19% 20% 21% 21% 21% 22% 22% 22% 23% 23%
Sales

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2022 Jan '22 Feb '22 Mar '22 Apr '22 May '22 June '22 July '22 Aug '22 Sept '22 Oct '22 Nov '22 Dec '22

Total Revenue $5,055,627 $5,240,065 $5,406,058 $5,555,452 $5,689,907 $5,810,916 $5,919,825 $6,017,842 $6,106,058 $6,185,452 $6,256,907 $6,321,216

Total Direct
$2,987,033 $3,096,005 $3,194,079 $3,282,346 $3,361,787 $3,433,283 $3,497,629 $3,555,542 $3,607,663 $3,654,571 $3,696,789 $3,734,786
Costs

Gross Margin $2,068,594 $2,144,060 $2,211,979 $2,273,106 $2,328,120 $2,377,633 $2,422,195 $2,462,300 $2,498,395 $2,530,881 $2,560,118 $2,586,431

Gross Margin % 41% 41% 41% 41% 41% 41% 41% 41% 41% 41% 41% 41%

Operating
Expenses

Salaries and Wages $397,493 $397,495 $397,495 $397,496 $397,496 $397,496 $397,496 $397,496 $397,508 $397,508 $397,512 $397,512

Employee Related
$99,374 $99,373 $99,374 $99,374 $99,374 $99,374 $99,374 $99,374 $99,377 $99,377 $99,378 $99,378
Expenses

Office Rent $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500

Computers $54,000

Phones $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800 $10,800

SG&A (5% of sales) $252,782 $262,003 $270,303 $277,773 $284,495 $290,546 $295,991 $300,892 $305,303 $309,273 $312,845 $316,061

Total Operating
$821,947 $777,172 $785,472 $792,943 $799,665 $805,716 $811,161 $816,062 $820,488 $824,458 $828,035 $831,251
Expenses

Operating
$1,246,646 $1,366,888 $1,426,507 $1,480,163 $1,528,455 $1,571,917 $1,611,034 $1,646,238 $1,677,908 $1,706,423 $1,732,083 $1,755,180
Income

Interest Incurred

Depreciation and
Amortization

Gain or Loss from

Sale of Assets

Income Taxes $249,329 $273,378 $285,301 $296,033 $305,691 $314,383 $322,207 $329,247 $335,582 $341,285 $346,416 $351,036

Total Expenses $4,058,309 $4,146,555 $4,264,852 $4,371,322 $4,467,143 $4,553,381 $4,630,998 $4,700,851 $4,763,733 $4,820,314 $4,871,240 $4,917,072

Net Profit $997,317 $1,093,510 $1,141,206 $1,184,130 $1,222,764 $1,257,534 $1,288,827 $1,316,991 $1,342,326 $1,365,138 $1,385,667 $1,404,144

Net Profit /
20% 21% 21% 21% 21% 22% 22% 22% 22% 22% 22% 22%
Sales

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2020 2021 2022

Total Revenue $12,624,106 $45,719,623 $69,565,325

Total Direct Costs $7,872,771 $27,012,677 $41,101,513

Gross Margin $4,751,336 $18,706,946 $28,463,812

Gross Margin % 38% 41% 41%

Operating Expenses

Salaries and Wages $1,268,753 $3,400,000 $4,770,003

Employee Related Expenses $317,188 $850,000 $1,192,501

Office Rent $75,000 $90,000 $90,000

Computers $18,000 $36,000 $54,000

Phones $6,600 $64,800 $129,600

SG&A (5% of sales) $631,205 $2,285,981 $3,478,267

Total Operating Expenses $2,316,747 $6,726,781 $9,714,370

Operating Income $2,434,589 $11,980,165 $18,749,442

Interest Incurred

Depreciation and Amortization

Gain or Loss from Sale of Assets

Income Taxes $486,918 $2,396,033 $3,749,888

Total Expenses $10,676,435 $36,135,492 $54,565,770

Net Profit $1,947,671 $9,584,132 $14,999,554

Net Profit / Sales 15% 21% 22%

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Balance Sheet (With Monthly Detail)

Starting
Jan '20 Feb '20 Mar '20 Apr '20 May '20 June '20 July '20 Aug '20 Sept '20 Oct '20 Nov '20 Dec '20
Balances

Cash $732,350 $485,174 $240,516 $143,255 $76,960 $115,651 $248,830 $447,866 $712,928 $854,063 $1,244,240 $1,687,756

Accounts
$162,000 $307,800 $439,020 $557,118 $825,406 $1,066,866 $1,284,180 $1,479,761 $1,655,784 $1,814,207 $1,956,786 $2,085,107
Receivable

Inventory

Other Current
Assets

Total Current
$894,350 $792,974 $679,536 $700,373 $902,366 $1,182,516 $1,533,009 $1,927,627 $2,368,712 $2,668,270 $3,201,026 $3,772,862
Assets

Long-Term Assets

Accumulated
Depreciation

Total Long-
Term Assets

Total Assets $894,350 $792,974 $679,536 $700,373 $902,366 $1,182,516 $1,533,009 $1,927,627 $2,368,712 $2,668,270 $3,201,026 $3,772,862

Accounts Payable $83,457 $103,201 $128,080 $98,507 $144,774 $186,415 $223,891 $265,841 $297,175 $325,376 $350,756 $373,598

Income Taxes
$0 $0 $0 $0 $0 $0 $42,799 $110,435 $189,777 $89,880 $189,243 $297,141
Payable

Sales Taxes
$12,000 $22,800 $32,520 $41,268 $61,141 $79,027 $95,125 $109,612 $122,650 $134,386 $144,947 $154,452
Payable

Short-Term Debt

Prepaid Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current
$0 $95,457 $126,001 $160,600 $139,775 $205,915 $265,442 $361,815 $485,888 $609,602 $549,642 $684,946 $825,191
Liabilities

Long-Term Debt

Long-Term
Liabilities

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Total
$0 $95,457 $126,001 $160,600 $139,775 $205,915 $265,442 $361,815 $485,888 $609,602 $549,642 $684,946 $825,191
Liabilities

Paid-In Capital $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000

Retained Earnings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Earnings ($201,107) ($333,027) ($481,064) ($439,402) ($303,550) ($82,926) $171,194 $441,739 $759,110 $1,118,628 $1,516,080 $1,947,671

Total Owner's
$0 $798,893 $666,973 $518,936 $560,598 $696,450 $917,074 $1,171,194 $1,441,739 $1,759,110 $2,118,628 $2,516,080 $2,947,671
Equity

Total
Liabilities & $0 $894,350 $792,974 $679,536 $700,373 $902,366 $1,182,516 $1,533,009 $1,927,627 $2,368,712 $2,668,270 $3,201,026 $3,772,862
Equity

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2021 Jan '21 Feb '21 Mar '21 Apr '21 May '21 June '21 July '21 Aug '21 Sept '21 Oct '21 Nov '21 Dec '21

Cash $1,807,823 $2,105,263 $2,264,332 $2,501,105 $3,210,343 $4,027,452 $4,388,615 $5,390,175 $6,470,352 $6,927,438 $8,142,085 $9,414,058

Accounts
$2,524,597 $2,920,136 $3,276,123 $3,596,511 $3,884,859 $4,144,374 $4,377,937 $4,588,142 $4,777,328 $4,947,596 $5,100,836 $5,238,752
Receivable

Inventory

Other Current
Assets

Total Current
$4,332,421 $5,025,399 $5,540,455 $6,097,615 $7,095,202 $8,171,826 $8,766,552 $9,978,318 $11,247,680 $11,875,034 $13,242,921 $14,652,810
Assets

Long-Term Assets

Accumulated
Depreciation

Total Long-
Term Assets

Total Assets $4,332,421 $5,025,399 $5,540,455 $6,097,615 $7,095,202 $8,171,826 $8,766,552 $9,978,318 $11,247,680 $11,875,034 $13,242,921 $14,652,810

Accounts Payable $464,072 $523,681 $587,050 $644,082 $695,411 $741,607 $783,183 $820,602 $854,279 $884,588 $911,866 $936,416

Income Taxes
$384,447 $505,261 $352,611 $165,802 $350,782 $553,022 $217,775 $449,530 $693,864 $255,659 $521,511 $796,536
Payable

Sales Taxes Payable $187,008 $216,306 $242,676 $266,408 $287,767 $306,991 $324,292 $339,862 $353,876 $366,489 $377,840 $388,055

Short-Term Debt

Prepaid Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current
$1,035,527 $1,245,248 $1,182,337 $1,076,292 $1,333,960 $1,601,620 $1,325,250 $1,609,994 $1,902,019 $1,506,736 $1,811,217 $2,121,007
Liabilities

Long-Term Debt

Long-Term
Liabilities

Total Liabilities $1,035,527 $1,245,248 $1,182,337 $1,076,292 $1,333,960 $1,601,620 $1,325,250 $1,609,994 $1,902,019 $1,506,736 $1,811,217 $2,121,007

Paid-In Capital $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000

Retained Earnings $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671 $1,947,671

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Earnings $349,223 $832,480 $1,410,447 $2,073,652 $2,813,571 $3,622,535 $4,493,631 $5,420,653 $6,397,990 $7,420,627 $8,484,033 $9,584,132

Total Owner's
$3,296,894 $3,780,151 $4,358,118 $5,021,323 $5,761,242 $6,570,206 $7,441,302 $8,368,324 $9,345,661 $10,368,298 $11,431,704 $12,531,803
Equity

Total Liabilities
$4,332,421 $5,025,399 $5,540,455 $6,097,615 $7,095,202 $8,171,826 $8,766,552 $9,978,318 $11,247,680 $11,875,034 $13,242,921 $14,652,810
& Equity

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2022 Jan '22 Feb '22 Mar '22 Apr '22 May '22 June '22 July '22 Aug '22 Sept '22 Oct '22 Nov '22 Dec '22

Cash $10,512,992 $11,714,701 $12,210,591 $12,762,073 $14,181,922 $15,656,094 $16,263,050 $17,830,114 $19,436,766 $20,092,022 $21,766,387 $23,469,621

Accounts
$5,460,078 $5,659,269 $5,838,542 $5,999,888 $6,145,100 $6,275,789 $6,393,411 $6,499,270 $6,594,542 $6,680,288 $6,757,460 $6,826,913
Receivable

Inventory

Other Current
Assets

Total Current
$15,973,070 $17,373,970 $18,049,133 $18,761,961 $20,327,022 $21,931,883 $22,656,460 $24,329,385 $26,031,308 $26,772,310 $28,523,847 $30,296,535
Assets

Long-Term Assets

Accumulated
Depreciation

Total Long-
Term Assets

Total Assets $15,973,070 $17,373,970 $18,049,133 $18,761,961 $20,327,022 $21,931,883 $22,656,460 $24,329,385 $26,031,308 $26,772,310 $28,523,847 $30,296,535

Accounts Payable $993,634 $1,012,892 $1,044,805 $1,073,526 $1,099,375 $1,122,639 $1,143,576 $1,162,420 $1,179,380 $1,194,643 $1,208,380 $1,220,744

Income Taxes
$1,045,865 $1,319,243 $808,008 $296,033 $601,724 $916,107 $322,207 $651,454 $987,036 $341,285 $687,701 $1,038,737
Payable

Sales Taxes Payable $404,451 $419,205 $432,484 $444,436 $455,193 $464,873 $473,586 $481,428 $488,484 $494,836 $500,553 $505,697

Short-Term Debt

Prepaid Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current
$2,443,950 $2,751,340 $2,285,297 $1,813,995 $2,156,292 $2,503,619 $1,939,369 $2,295,302 $2,654,900 $2,030,764 $2,396,634 $2,765,178
Liabilities

Long-Term Debt

Long-Term
Liabilities

Total Liabilities $2,443,950 $2,751,340 $2,285,297 $1,813,995 $2,156,292 $2,503,619 $1,939,369 $2,295,302 $2,654,900 $2,030,764 $2,396,634 $2,765,178

Paid-In Capital $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000

Retained Earnings $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803 $11,531,803

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Earnings $997,317 $2,090,827 $3,232,033 $4,416,163 $5,638,927 $6,896,462 $8,185,288 $9,502,280 $10,844,605 $12,209,743 $13,595,410 $14,999,554

Total Owner's
$13,529,120 $14,622,630 $15,763,836 $16,947,966 $18,170,730 $19,428,264 $20,717,091 $22,034,082 $23,376,408 $24,741,546 $26,127,213 $27,531,357
Equity

Total Liabilities
$15,973,070 $17,373,970 $18,049,133 $18,761,961 $20,327,022 $21,931,883 $22,656,460 $24,329,385 $26,031,308 $26,772,310 $28,523,847 $30,296,535
& Equity

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Starting Balances 2020 2021 2022

Cash $1,687,756 $9,414,058 $23,469,621

Accounts Receivable $2,085,107 $5,238,752 $6,826,913

Inventory

Other Current Assets

Total Current Assets $3,772,862 $14,652,810 $30,296,535

Long-Term Assets

Accumulated Depreciation

Total Long-Term Assets

Total Assets $3,772,862 $14,652,810 $30,296,535

Accounts Payable $373,598 $936,416 $1,220,744

Income Taxes Payable $297,141 $796,536 $1,038,737

Sales Taxes Payable $154,452 $388,055 $505,697

Short-Term Debt

Prepaid Revenue $0 $0 $0 $0

Total Current Liabilities $0 $825,191 $2,121,007 $2,765,178

Long-Term Debt

Long-Term Liabilities

Total Liabilities $0 $825,191 $2,121,007 $2,765,178

Paid-In Capital $1,000,000 $1,000,000 $1,000,000

Retained Earnings $0 $0 $1,947,671 $11,531,803

Earnings $1,947,671 $9,584,132 $14,999,554

Total Owner's Equity $0 $2,947,671 $12,531,803 $27,531,357

Total Liabilities & Equity $0 $3,772,862 $14,652,810 $30,296,535

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Cash Flow Statement (With Monthly Detail)

2020 Jan '20 Feb '20 Mar '20 Apr '20 May '20 June '20 July '20 Aug '20 Sept '20 Oct '20 Nov '20 Dec '20

Net Cash Flow

from Operations

Net Profit ($201,107) ($131,920) ($148,037) $41,662 $135,852 $220,624 $254,120 $270,545 $317,371 $359,518 $397,452 $431,591

Depreciation &
Amortization

Change in
Accounts ($162,000) ($145,800) ($131,220) ($118,098) ($268,288) ($241,460) ($217,314) ($195,582) ($176,023) ($158,423) ($142,579) ($128,321)
Receivable

Change in
Inventory

Change in
Accounts $83,457 $19,744 $24,879 ($29,573) $46,267 $41,641 $37,477 $41,950 $31,334 $28,200 $25,380 $22,842
Payable

Change in
Income Tax $0 $0 $0 $0 $0 $0 $42,799 $67,636 $79,342 ($99,897) $99,363 $107,898
Payable

Change in Sales
$12,000 $10,800 $9,720 $8,748 $19,873 $17,886 $16,098 $14,487 $13,038 $11,736 $10,561 $9,505
Tax Payable

Change in
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Prepaid Revenue

Net Cash Flow

($267,650) ($247,176) ($244,658) ($97,261) ($66,295) $38,691 $133,179 $199,036 $265,062 $141,135 $390,177 $443,516
from Operations

Investing &
Financing

Assets
Purchased or
Sold

Net Cash from

Investing

Investments
$1,000,000
Received

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Dividends &
Distributions

Change in Short-
Term Debt

Change in Long-
Term Debt

Net Cash from

$1,000,000
Financing

Cash at Beginning
$0 $732,350 $485,174 $240,516 $143,255 $76,960 $115,651 $248,830 $447,866 $712,928 $854,063 $1,244,240
of Period

Net Change in Cash $732,350 ($247,176) ($244,658) ($97,261) ($66,295) $38,691 $133,179 $199,036 $265,062 $141,135 $390,177 $443,516

Cash at End of
$732,350 $485,174 $240,516 $143,255 $76,960 $115,651 $248,830 $447,866 $712,928 $854,063 $1,244,240 $1,687,756
Period

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2021 Jan '21 Feb '21 Mar '21 Apr '21 May '21 June '21 July '21 Aug '21 Sept '21 Oct '21 Nov '21 Dec '21

Net Cash Flow

from Operations

Net Profit $349,223 $483,257 $577,967 $663,205 $739,919 $808,964 $871,096 $927,022 $977,337 $1,022,637 $1,063,406 $1,100,099

Depreciation &
Amortization

Change in
Accounts ($439,491) ($395,539) ($355,987) ($320,387) ($288,349) ($259,515) ($233,563) ($210,206) ($189,186) ($170,268) ($153,240) ($137,915)
Receivable

Change in
Inventory

Change in
Accounts $90,473 $59,610 $63,369 $57,032 $51,329 $46,196 $41,576 $37,419 $33,677 $30,309 $27,278 $24,550
Payable

Change in
Income Tax $87,306 $120,814 ($152,650) ($186,809) $184,980 $202,240 ($335,247) $231,755 $244,334 ($438,205) $265,852 $275,025
Payable

Change in Sales
$32,556 $29,298 $26,370 $23,732 $21,359 $19,224 $17,301 $15,570 $14,014 $12,613 $11,351 $10,215
Tax Payable

Change in
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Prepaid Revenue

Net Cash Flow

$120,068 $297,440 $159,069 $236,773 $709,238 $817,109 $361,163 $1,001,560 $1,080,176 $457,086 $1,214,647 $1,271,974
from Operations

Investing &
Financing

Assets
Purchased or
Sold

Net Cash from

Investing

Investments
Received

Dividends &
Distributions

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Change in Short-
Term Debt

Change in Long-
Term Debt

Net Cash from

Financing

Cash at Beginning
$1,687,756 $1,807,823 $2,105,263 $2,264,332 $2,501,105 $3,210,343 $4,027,452 $4,388,615 $5,390,175 $6,470,352 $6,927,438 $8,142,085
of Period

Net Change in Cash $120,068 $297,440 $159,069 $236,773 $709,238 $817,109 $361,163 $1,001,560 $1,080,176 $457,086 $1,214,647 $1,271,974

Cash at End of
$1,807,823 $2,105,263 $2,264,332 $2,501,105 $3,210,343 $4,027,452 $4,388,615 $5,390,175 $6,470,352 $6,927,438 $8,142,085 $9,414,058
Period

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2022 Jan '22 Feb '22 Mar '22 Apr '22 May '22 June '22 July '22 Aug '22 Sept '22 Oct '22 Nov '22 Dec '22

Net Cash Flow

from Operations

Net Profit $997,317 $1,093,510 $1,141,206 $1,184,130 $1,222,764 $1,257,534 $1,288,827 $1,316,991 $1,342,326 $1,365,138 $1,385,667 $1,404,144

Depreciation &
Amortization

Change in
Accounts ($221,326) ($199,191) ($179,273) ($161,346) ($145,212) ($130,689) ($117,621) ($105,860) ($95,272) ($85,746) ($77,172) ($69,453)
Receivable

Change in
Inventory

Change in
Accounts $57,218 $19,258 $31,912 $28,721 $25,849 $23,264 $20,938 $18,844 $16,959 $15,264 $13,737 $12,363
Payable

Change in
Income Tax $249,329 $273,378 ($511,235) ($511,975) $305,691 $314,383 ($593,900) $329,247 $335,582 ($645,751) $346,416 $351,036
Payable

Change in Sales
$16,396 $14,754 $13,279 $11,952 $10,757 $9,680 $8,713 $7,842 $7,056 $6,352 $5,717 $5,144
Tax Payable

Change in
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Prepaid Revenue

Net Cash Flow

$1,098,934 $1,201,708 $495,890 $551,482 $1,419,849 $1,474,172 $606,956 $1,567,065 $1,606,651 $655,257 $1,674,365 $1,703,234
from Operations

Investing &
Financing

Assets
Purchased or
Sold

Net Cash from

Investing

Investments
Received

Dividends &
Distributions

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Change in Short-
Term Debt

Change in Long-
Term Debt

Net Cash from

Financing

Cash at Beginning
$9,414,058 $10,512,992 $11,714,701 $12,210,591 $12,762,073 $14,181,922 $15,656,094 $16,263,050 $17,830,114 $19,436,766 $20,092,022 $21,766,387
of Period

Net Change in Cash $1,098,934 $1,201,708 $495,890 $551,482 $1,419,849 $1,474,172 $606,956 $1,567,065 $1,606,651 $655,257 $1,674,365 $1,703,234

Cash at End of
$10,512,992 $11,714,701 $12,210,591 $12,762,073 $14,181,922 $15,656,094 $16,263,050 $17,830,114 $19,436,766 $20,092,022 $21,766,387 $23,469,621
Period

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2020 2021 2022

Net Cash Flow from Operations

Net Profit $1,947,671 $9,584,132 $14,999,554

Depreciation & Amortization

Change in Accounts Receivable ($2,085,107) ($3,153,645) ($1,588,161)

Change in Inventory

Change in Accounts Payable $373,598 $562,818 $284,327

Change in Income Tax Payable $297,141 $499,395 $242,201

Change in Sales Tax Payable $154,452 $233,603 $117,642

Change in Prepaid Revenue $0 $0 $0

Net Cash Flow from Operations $687,756 $7,726,303 $14,055,563

Investing & Financing

Assets Purchased or Sold

Net Cash from Investing

Investments Received $1,000,000

Dividends & Distributions

Change in Short-Term Debt

Change in Long-Term Debt

Net Cash from Financing $1,000,000

Cash at Beginning of Period $0 $1,687,756 $9,414,058

Net Change in Cash $1,687,756 $7,726,303 $14,055,563

Cash at End of Period $1,687,756 $9,414,058 $23,469,621

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