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WorkMarket

Summary Financial Projections
2010
Revenue
COGS
Gross Profit
Gross Margin
SG&A
Margin
Operating Income
Operating Margin

Milestones
Company Started
Beta Launch
Launch

FYE December 31,
2011

2012

$0

$6,305,388

$19,966,524

$34,000
($34,000)

$788,497
$5,516,891
87%

$1,741,022
$18,225,502
91%

$1,149,242

$4,410,666
70%

$6,932,026
35%

($1,183,242)

$1,106,225
18%

$11,293,476
57%

Jun-10
Apr-11
Jun-11

Note: All Dates have to be the First of the Month
Note: Actual founding of company will be May 4, 2010

Goals:
Determine how much you need
Show investors how you will spend their money
Plan on how you will run the business
Living document - Projection to Budgte to Forecast

WorkMarket
Income Statement and Cash Requirements

Apr-10
Net Revenue

May-10

Jun-10

Jul-10

$0

$0

$0

$0

Cost of Goods Sold
Cost of Goods Sold - Payroll
Gross Profit
Gross Margin

$0
0.0%

$0
0.0%

17,000
($17,000)
0.0%

2,000
($2,000)
0.0%

Selling, General and Administrative
General & Administrative
Sales & Marketing
Payroll - Executive and Administration
Payroll - Product Development
Payroll - Business Development & Marketing
Payroll - Sales
Total SG&A
Margin

0
0
0
0
0
$0
0.0%

0
0
0
0
0
$0
0.0%

74,500
1,000
0
13,081
0
0
$88,581
0.0%

9,560
1,000
0
22,496
0
0
$33,056
0.0%

-

-

8,858

3,306

$0
0.0%

$0
0.0%

($114,439)
0.0%

($38,362)
0.0%

$0
$0

$0
$0

$0
($114,439)

$0
($38,362)

$0
($2,701,601)

$0

($114,439)

($152,801)

Cushion
Operating Profit/(Loss)
Operating Margin
Taxes
Total Cash Uses
Cumulative Cash Needs
Cash Trough

10%

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Jan-11

Feb-11

$0

$0

$0

$0

$0

$0

$0

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
1,309
($4,309)
0.0%

3,000
21,486
($24,486)
0.0%

46,292
8,500
18,986
63,363
19,746
0
$156,886
0.0%

26,076
8,500
18,986
70,944
44,323
0
$168,829
0.0%

22,188
11,000
18,886
70,711
44,157
16,256
$183,197
0.0%

25,360
13,500
31,246
79,931
44,629
50,278
$244,944
0.0%

26,196
13,500
31,246
99,799
44,629
58,379
$273,749
0.0%

18,308
13,500
31,246
107,900
44,629
58,379
$273,961
0.0%

21,644
14,000
31,246
107,900
44,629
58,379
$277,797
0.0%

15,689

16,883

18,320

24,494

27,375

27,396

27,780

($175,575)
0.0%

($188,712)
0.0%

($204,517)
0.0%

($272,438)
0.0%

($304,123)
0.0%

($305,666)
0.0%

($330,063)
0.0%

$0
($175,575)

$0
($188,712)

$0
($204,517)

$0
($272,438)

$0
($304,123)

$0
($305,666)

$0
($330,063)

($328,376)

($517,088)

($721,605)

($994,043)

($1,298,166)

($1,603,833)

($1,933,896)

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

$53,082

$148,358

$243,634

$424,410

$605,186

$711,350

$817,514

4,194
21,486
$27,401
51.6%

31,338
43,039
$73,981
49.9%

18,482
43,039
$182,114
74.7%

27,549
43,039
$353,822
83.4%

31,617
43,039
$530,531
87.7%

34,005
43,039
$634,306
89.2%

36,494
50,375
$730,645
89.4%

17,409
20,747
31,246
107,900
44,629
58,379
$280,309
528.1%

26,778
31,869
31,246
107,900
44,629
74,580
$317,001
213.7%

19,754
39,491
31,246
107,900
44,629
74,580
$317,600
130.4%

33,874
53,953
31,246
107,900
44,629
90,782
$362,383
85.4%

21,778
68,415
31,246
107,900
44,629
90,782
$364,749
60.3%

22,309
76,908
31,246
107,900
44,629
90,782
$373,773
52.5%

33,238
86,226
37,123
112,292
73,529
96,121
$438,528
53.6%

28,031

31,700

31,760

36,238

36,475

37,377

43,853

($280,939)
-529.3%

($274,720)
-185.2%

($167,246)
-68.6%

($44,799)
-10.6%

$129,307
21.4%

$223,156
31.4%

$248,264
30.4%

$0
($280,939)

$0
($274,720)

$0
($167,246)

$0
($44,799)

$25,861
$103,445

$44,631
$178,524

$49,653
$198,611

($2,214,835)

($2,489,555)

($2,656,801)

($2,701,601)

($2,598,156)

($2,419,631)

($2,221,020)

Oct-11

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

$959,066

$1,100,618

$1,242,170

$1,383,722

$1,430,906

$1,478,090

$1,525,274

39,679
50,375
$869,012
90.6%

42,864
55,000
$1,002,754
91.1%

46,049
55,000
$1,141,121
91.9%

49,234
59,625
$1,274,863
92.1%

50,295
59,625
$1,320,986
92.3%

51,357
68,375
$1,358,358
91.9%

52,419
68,375
$1,404,480
92.1%

24,495
107,550
37,123
112,292
73,529
96,121
$451,110
47.0%

28,553
118,874
42,917
112,292
73,529
96,121
$472,286
42.9%

26,111
130,199
42,917
112,292
73,529
96,121
$481,168
38.7%

30,169
141,523
42,917
112,292
73,529
103,840
$504,268
36.4%

28,930
145,297
42,917
112,292
73,529
111,558
$514,523
36.0%

34,290
149,072
42,917
112,292
73,529
136,640
$548,740
37.1%

29,901
152,847
42,917
112,292
73,529
144,015
$555,500
36.4%

45,111

47,229

48,117

50,427

51,452

54,874

55,550

$372,791
38.9%

$483,240
43.9%

$611,837
49.3%

$720,168
52.0%

$755,010
52.8%

$754,744
51.1%

$793,430
52.0%

$74,558
$298,233

$96,648
$386,592

$122,367
$489,469

$144,034
$576,134

$151,002
$604,008

$150,949
$603,795

$158,686
$634,744

($1,922,787)

($1,536,196)

($1,046,726)

($470,592)

$133,416

$737,212

$1,371,956

May-12

Jun-12

Jul-12

$1,572,458

$1,619,642

$1,678,622

53,480
77,125
$1,441,853
91.7%

54,542
86,288
$1,478,813
91.3%

31,912
156,622
42,917
112,292
73,529
151,390
$568,661
36.2%

Aug-12

Sep-12

Oct-12

Nov-12

$1,737,602

$1,796,582

$1,855,562

$1,914,542

55,869
95,450
$1,527,303
91.0%

57,196
104,613
$1,575,793
90.7%

58,523
113,775
$1,624,284
90.4%

59,850
113,775
$1,681,937
90.6%

61,177
113,775
$1,739,590
90.9%

42,348
160,396
42,917
112,292
73,529
158,765
$590,247
36.4%

32,315
165,115
42,917
112,292
73,529
166,140
$592,307
35.3%

31,127
169,833
42,917
112,292
73,529
166,140
$595,837
34.3%

33,181
174,552
42,917
112,292
73,529
173,858
$610,328
34.0%

30,326
179,270
42,917
112,292
73,529
173,858
$612,192
33.0%

30,621
183,988
42,917
112,292
73,529
173,858
$617,205
32.2%

56,866

59,025

59,231

59,584

61,033

61,219

61,720

$816,326
51.9%

$829,541
51.2%

$875,765
52.2%

$920,372
53.0%

$952,923
53.0%

$1,008,526
54.4%

$1,060,664
55.4%

$163,265
$653,060

$165,908
$663,633

$175,153
$700,612

$184,074
$736,298

$190,585
$762,338

$201,705
$806,821

$212,133
$848,532

$2,025,016

$2,688,649

$3,389,261

$4,125,559

$4,887,898

$5,694,718

$6,543,250

Dec-12
$1,973,522
62,504
113,775
$1,797,243
91.1%

30,916
188,707
42,917
112,292
73,529
173,858
$622,218
31.5%
62,222
$1,112,803
56.4%
$222,561
$890,242
$7,433,492

WorkMarket
Expenses
Event
General & Administrative
Rent
Security Deposit
Office Setup
Utilities, Phones, Internet, etc.
Office Expenses
Insurance
Professional Fees
Legal
Computer Hardware
NetSuite
NetSuite Setup and Customization
Legal Issuance Fees
PEO Fees
Credit Losses
Miscellaneous

Funding
Lease

Pre/Post

Metric
1

Lease
Funding
Funding
Beta
Funding
Per Employee
Funding
Funding

Apr-10

$5,000
$10,000
$5,000
$500
$1,000
$500
$1,000
$5,000
$1,500
$5,000
$5,000
$50,000

-

0%
$1,000

-

Total G&A
Sales and Marketing
Marketing/PR
Recruiting Costs
Full Ramped Advertising, Marketing & PR
Sales Commission
Technecian Marketing
Travel & Accommodations
Client Service Phone System
Miscellaneous
Total Sales and Marketing
COGS
Web Hosting
Hosting Set Up
Developer Tools
Contractor Insurance
Outsourced Development
Credit Card Fees
Miscellaneous
Total COGS

Cost Inflation
Office Cleaning
Google Apps
Sales Commission after base is "repaid"
Meals
Banking Fees
Redunancy for Hosting
Mobile Buildout
Google Maps

-

Launch
Beta
Launch

(3)
(2)
3

Per Staff

Beta
Funding
Beta

1
1

$2,500
$500
$10,000
8%
$2,500
$2,500
$1,000
$1,000

-

$1,000
$15,000
$1,000
$5,000
$0
2.25%
$1,000

-

5%

May-10

Jun-10
-

Jul-10

Aug-10

Sep-10

Oct-10

Nov-10

1,000
500
5,000
1,500

5,000
10,000
5,000
500
1,000
500
5,000
16,500

5,000
500
1,000
500
5,000
10,500

5,000
500
1,000
500
5,000
1,500

5,000
500
1,000
500
5,000
9,000

-

1,000
500
5,000
6,000
5,000
5,000
50,000
1,000
1,000

560
1,000

1,792
1,000

2,576
1,000

5,000
2,688
1,000

3,360
1,000

-

74,500

9,560

46,292

26,076

22,188

25,360

-

1,000
1,000

1,000
1,000

7,500
1,000
8,500

7,500
1,000
8,500

10,000
1,000
11,000

12,500
1,000
13,500

-

1,000
15,000
1,000
17,000

1,000
1,000
2,000

1,000
1,000
1,000
3,000

1,000
1,000
1,000
3,000

1,000
1,000
1,000
3,000

1,000
1,000
1,000
3,000

Dec-10

Jan-11

Feb-11

Mar-11

Apr-11

May-11

Jun-11

5,000
500
1,000
500
5,000
4,500

5,000
500
1,000
500
5,000
1,500

5,000
500
1,000
500
5,000
4,500

5,000
500
1,000
500
5,000
-

5,000
500
1,000
500
1,000
5,000
7,500

5,000
500
1,000
500
1,000
5,000
-

5,000
500
1,000
500
1,000
5,000
3,000
10,000

5,000
3,696
1,000

3,808
1,000

4,144
1,000

4,144
265
1,000

4,536
742
1,000

4,536
1,218
1,000

4,752
2,122
1,000

26,196

18,308

21,644

17,409

26,778

19,754

33,874

12,500
1,000
13,500

12,500
1,000
13,500

500
12,500
1,000
14,000

2,500
500
4,247
12,500
1,000
20,747

2,500
500
11,869
2,500
12,500
1,000
1,000
31,869

2,500
500
19,491
2,500
12,500
1,000
1,000
39,491

2,500
500
33,953
2,500
12,500
1,000
1,000
53,953

1,000
1,000
1,000
3,000

1,000
1,000
1,000
3,000

1,000
1,000
1,000
3,000

1,000
1,000
1,194
1,000
4,194

6,000
15,000
1,000
5,000
3,338
1,000
31,338

6,000
1,000
5,000
5,482
1,000
18,482

6,000
1,000
10,000
9,549
1,000
27,549

Jul-11

Aug-11

Sep-11

5,000
500
1,000
500
1,000
5,000
-

5,000
500
1,000
500
1,000
5,000
-

5,250

4,752
3,026
1,000

Oct-11

Nov-11

Dec-11

Jan-12

525
1,050
525
1,050
5,250
9,450

5,250
525
1,050
525
1,050
5,250
-

5,250
525
1,050
525
1,050
5,250
3,150

5,250
525
1,050
525
1,050
5,250
-

5,250
525
1,050
525
1,050
5,250
3,150

4,752
3,557
1,000

5,000
4,088
1,050

5,000
4,795
1,050

5,200
5,503
1,050

5,200
6,211
1,050

5,400
6,919
1,050

21,778

22,309

33,238

24,495

28,553

26,111

30,169

2,500
500
48,415
2,500
12,500
1,000
1,000
68,415

2,500
500
56,908
2,500
12,500
1,000
1,000
76,908

2,625
525
65,401
2,500
13,125
1,000
1,050
86,226

2,625
525
10,000
76,725
2,500
13,125
1,000
1,050
107,550

2,625
525
10,000
88,049
2,500
13,125
1,000
1,050
118,874

2,625
525
10,000
99,374
2,500
13,125
1,000
1,050
130,199

2,625
525
10,000
110,698
2,500
13,125
1,000
1,050
141,523

6,000
1,000
10,000
13,617
1,000
31,617

6,000
1,000
10,000
16,005
1,000
34,005

6,000
1,050
10,000
18,394
1,050
36,494

6,000
1,050
10,000
21,579
1,050
39,679

6,000
1,050
10,000
24,764
1,050
42,864

6,000
1,050
10,000
27,949
1,050
46,049

6,000
1,050
10,000
31,134
1,050
49,234

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

5,250
525
1,050
525
1,050
5,250
1,575

5,250
525
1,050
525
1,050
5,250
6,300

5,250
525
1,050
525
1,050
5,250
1,575

5,250
525
1,050
525
1,050
5,250
3,150

5,250
525
1,050
525
1,050
5,250
3,150
10,000

5,250
525
1,050
525
1,050
5,250
3,150

5,250
525
1,050
525
1,050
5,250
1,575

5,500
7,155
1,050

5,900
7,390
1,050

6,000
7,626
1,050

6,200
7,862
1,050

6,400
8,098
1,050

6,072
8,393
1,050

6,164
8,688
1,050

28,930

34,290

29,901

31,912

42,348

32,315

31,127

2,625
525
10,000
114,472
2,500
13,125
1,000
1,050
145,297

2,625
525
10,000
118,247
2,500
13,125
1,000
1,050
149,072

2,625
525
10,000
122,022
2,500
13,125
1,000
1,050
152,847

2,625
525
10,000
125,797
2,500
13,125
1,000
1,050
156,622

2,625
525
10,000
129,571
2,500
13,125
1,000
1,050
160,396

2,625
525
10,000
134,290
2,500
13,125
1,000
1,050
165,115

2,625
525
10,000
139,008
2,500
13,125
1,000
1,050
169,833

6,000
1,050
10,000
32,195
1,050
50,295

6,000
1,050
10,000
33,257
1,050
51,357

6,000
1,050
10,000
34,319
1,050
52,419

6,000
1,050
10,000
35,380
1,050
53,480

6,000
1,050
10,000
36,442
1,050
54,542

6,000
1,050
10,000
37,769
1,050
55,869

6,000
1,050
10,000
39,096
1,050
57,196

Sep-12

Oct-12

Nov-12

Dec-12

5,250
525
1,050
525
1,050
5,250
3,150

5,250
525
1,050
525
1,050
5,250
-

5,250
525
1,050
525
1,050
5,250
-

5,250
525
1,050
525
1,050
5,250
-

6,348
8,983
1,050

6,348
9,278
1,050

6,348
9,573
1,050

6,348
9,868
1,050

33,181

30,326

30,621

30,916

2,625
525
10,000
143,727
2,500
13,125
1,000
1,050
174,552

2,625
525
10,000
148,445
2,500
13,125
1,000
1,050
179,270

2,625
525
10,000
153,163
2,500
13,125
1,000
1,050
183,988

2,625
525
10,000
157,882
2,500
13,125
1,000
1,050
188,707

6,000
1,050
10,000
40,423
1,050
58,523

6,000
1,050
10,000
41,750
1,050
59,850

6,000
1,050
10,000
43,077
1,050
61,177

6,000
1,050
10,000
44,404
1,050
62,504

WorkMarket
Payroll, Payroll Taxes & Benefits

Executive Management
CEO - Jeffrey Leventhal
COO & CFO- Jeffrey Wald
VP of Technology

Event

Pre/Post

Salary

Funding
Funding
Funding

1
1
1

12,000
12,000
175,000

Payroll Taxes
Benefits & Other
Total Executive Compensation

Apr-10

-

10%

-

120,000
90,000
90,000
90,000
60,000
60,000
45,000
45,000
45,000
45,000
90,000
90,000
90,000
90,000
90,000
90,000

-

10%

-

COGS
Head of Client Services
System Administrator
Community
Head of Client Support
Client Services
Client Services
Client Services
Client Services
Client Services
Client Services
Client Services - Two People
Client Services - Two People
Client Services - Two People
Client Services - Two People
Client Services - Two People
Client Services - Two People

Beta
Beta
Beta
Beta
Beta
Beta
Beta
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch

(3)
(2)
0
0
(2)
(2)
0
2
4
6
8
10
11
12
13
14

Bonus Pool
Payroll Taxes
Benefits & Other
Total COGS Compensation

Development Team
Back End Systems:
Senior Architect
Lead Developer
Senior Developer
Senior Developer
Senior Developer
Developer
MySQL DBA
Front End Systems:
Director of Development
PHP Developer
PHP Developer
UI Developer
Bonus Pool
Payroll Taxes
Benefits & Other
Total Development Compensation

Funding
Funding
Funding
Beta
Beta
Beta
Beta

2
2
2
(4)
(4)
(3)
(5)

130,000
125,000
105,000
105,000
105,000
85,000
90,000

-

Funding
Funding
Launch
Launch

0
1
(10)
(9)

140,000
100,000
75,000
80,000

-

10%

-

Marketing
VP of Marketing
Director of Product
QA - Manager
QA
QA
Content/Copy Writer
Marketing
Lead Gen

Launch
Funding
Funding
Funding
Funding
Funding
Launch
Launch

2
1
2
1
2
2
2
2

Bonus Pool
Payroll Taxes
Benefits & Other
Total Marketing Compensation

120,000
125,000
90,000
85,000
85,000
85,000
75,000
75,000

-

10%

-

175,000
125,000
150,000
85,000
85,000
85,000
85,000
85,000
85,000
85,000
85,000
75,000
75,000
75,000
75,000
75,000
75,000
75,000
75,000

-

10%

-

65,000
60,000
40,000
55,000

-

10%

-

Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Account Manager
Account Manager
Account Manager
Account Manager
Account Manager
Account Manager
Account Manager
Account Manager

Funding
Funding
Funding
Funding
Funding
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch
Launch

3
4
4
4
5
(2)
(2)
0
0
8
8
6
7
8
9
10
11
12
14

Bonus Pool
Payroll Taxes
Benefits & Other
Total Sales Compensation
Administration
Assistant/Office Manager
Controller
Assistant
AP/AR
Payroll Taxes
Benefits & Other
Total Administration Compensation
Total Salary Compensation
Staff Who Will:
Travel
Need Computers/Benefits

Beta
Beta
Launch
Launch

(5)
(5)
2
4

-

-

Selling New Customers (Four Month Lag)
Payroll Inflation

5%

Benefits
Cost Per Month/Employee
PEO Fees/Employee
PEO Fees
3 Employees
4 Employees
5-9 Employees
10-19 Employees
20-29 Employees
30-49 Employees
50-75 Employees

$247.98

333
250
23.25
112
108
100
92
1018.25

Junior Product Manager
QA Automation Engineer

May-10

Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

Nov-10

-

-

-

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

-

-

-

1,658
744
18,986

1,658
744
18,986

1,658
644
18,886

1,658
927
19,169

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,833
10,417
8,750
-

10,833
10,417
8,750
-

10,833
10,417
8,750
-

10,833
10,417
8,750
7,500

-

11,667
-

11,667
8,333
-

11,667
8,333
6,250
-

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

-

1,167
248
13,081

2,000
496
22,496

5,625
1,488
63,363

6,292
1,736
70,944

6,292
1,503
70,711

7,042
2,473
79,931

-

-

-

10,417
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

-

-

-

1,750
496
19,746

3,917
1,240
44,323

3,917
1,073
44,157

3,917
1,546
44,629

-

-

-

-

-

14,583
-

14,583
10,417
12,500
7,083
-

-

-

-

-

-

1,458
215
16,256

4,458
1,236
50,278

-

-

-

-

-

-

5,417
5,000
-

-

-

-

-

-

-

1,042
618
12,077

-

13,081

22,496

102,094

134,253

150,009

206,084

-

4

5

3
16

3
23

4
24

5
30

$247.98

$247.98
$112.00

$247.98
$112.00

-

-

-

-

$247.98
$112.00

$247.98
$112.00

$214.65
$112.00

$309.10
$112.00

Dec-10

Jan-11

Feb-11

Mar-11

Apr-11

May-11

Jun-11

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,658
927
19,169

1,658
927
19,169

1,658
927
19,169

1,658
927
19,169

1,658
927
19,169

1,658
927
19,169

1,658
927
19,169

-

10,000
-

10,000
7,500
5,000
5,000
-

10,000
7,500
5,000
5,000
-

10,000
7,500
7,500
7,500
5,000
5,000
3,750
-

10,000
7,500
7,500
7,500
5,000
5,000
3,750
-

10,000
7,500
7,500
7,500
5,000
5,000
3,750
-

-

1,000
309
1,309

2,750
1,236
21,486

2,750
1,236
21,486

4,625
2,164
43,039

4,625
2,164
43,039

4,625
2,164
43,039

10,833
10,417
8,750
8,750
8,750
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

8,792
3,091
99,799

9,500
3,400
107,900

9,500
3,400
107,900

9,500
3,400
107,900

9,500
3,400
107,900

9,500
3,400
107,900

9,500
3,400
107,900

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

3,917
1,546
44,629

3,917
1,546
44,629

3,917
1,546
44,629

3,917
1,546
44,629

3,917
1,546
44,629

3,917
1,546
44,629

3,917
1,546
44,629

14,583
10,417
12,500
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
7,083
7,083
7,083
7,083
-

5,167
1,546
58,379

5,167
1,546
58,379

5,167
1,546
58,379

5,167
1,546
58,379

6,583
2,164
74,580

6,583
2,164
74,580

8,000
2,782
90,782

5,417
5,000
-

5,417
5,000
-

5,417
5,000
-

5,417
5,000
-

5,417
5,000
-

5,417
5,000
-

5,417
5,000
-

1,042
618
12,077

1,042
618
12,077

1,042
618
12,077

1,042
618
12,077

1,042
618
12,077

1,042
618
12,077

1,042
618
12,077

234,053

243,462

263,640

263,640

301,394

301,394

317,595

5
33

5
34

5
37

5
37

5
42

5
42

5
44

-

-

-

3

4

4

4

$309.10
$112.00

$309.10
$112.00

$309.10
$112.00

$309.10
$112.00

$309.10
$108.00

$309.10
$108.00

$309.10
$108.00

Jul-11

Aug-11

Sep-11

Oct-11

Nov-11

Dec-11

Jan-12

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,658
927
19,169

1,658
927
19,169

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

10,000
7,500
7,500
7,500
5,000
5,000
3,750
-

10,000
7,500
7,500
7,500
5,000
5,000
3,750
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
-

4,625
2,164
43,039

4,625
2,164
43,039

5,125
4,000
50,375

5,125
4,000
50,375

5,500
4,500
55,000

5,500
4,500
55,000

5,875
5,000
59,625

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
8,750
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

11,667
8,333
6,250
6,667

11,667
8,333
6,250
6,667

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

9,500
3,400
107,900

9,500
3,400
107,900

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

10,417
7,500
7,083
7,083
7,083
-

10,417
7,500
7,083
7,083
7,083
-

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

3,917
1,546
44,629

3,917
1,546
44,629

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

14,583
10,417
12,500
7,083
7,083
7,083
7,083
7,083
7,083
-

14,583
10,417
12,500
7,083
7,083
7,083
7,083
7,083
7,083
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
6,563
-

8,000
2,782
90,782

8,000
2,782
90,782

8,329
4,500
96,121

8,329
4,500
96,121

8,329
4,500
96,121

8,329
4,500
96,121

8,985
5,000
103,840

5,417
5,000
-

5,417
5,000
-

5,688
5,250
3,500
-

5,688
5,250
3,500
-

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

1,042
618
12,077

1,042
618
12,077

1,444
1,500
17,381

1,444
1,500
17,381

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

317,595

317,595

369,440

369,440

379,858

379,858

392,202

5
44

5
44

5
50

5
50

5
52

5
52

5
54

4

6

6

8

8

8

8

$309.10
$108.00

$309.10
$108.00

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
-

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
7,875
-

5,875
5,000
59,625

6,625
5,500
68,375

6,625
5,500
68,375

7,375
6,000
77,125

8,163
6,500
86,288

8,950
7,000
95,450

9,738
7,500
104,613

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
6,563
6,563
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
-

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
-

9,642
5,500
111,558

11,785
7,000
136,640

12,410
7,500
144,015

13,035
8,000
151,390

13,660
8,500
158,765

14,285
9,000
166,140

14,285
9,000
166,140

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

399,921

433,752

441,127

457,252

473,790

490,327

499,490

5
55

5
59

5
60

5
62

5
64

5
66

5
67

8

8

8

8

8

10

10

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

$500.00
$100.00

$500.00
$92.00

$500.00
$92.00

Sep-12

Oct-12

Nov-12

Dec-12

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,000
1,000
14,583

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

1,658
1,500
19,742

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
7,875
7,875

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
7,875
7,875

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
7,875
7,875

10,000
7,875
7,500
7,500
5,250
5,250
3,938
3,938
3,750
3,750
7,500
7,500
7,875
7,875
7,875
7,875

10,525
8,000
113,775

10,525
8,000
113,775

10,525
8,000
113,775

10,525
8,000
113,775

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

10,833
10,417
8,750
9,188
8,750
7,083
7,500

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

12,250
8,750
6,563
7,000

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

9,708
5,500
112,292

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

10,500
10,417
7,875
7,083
7,083
7,438
6,563
6,250

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

6,321
4,000
73,529

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
6,563

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
6,563

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
6,563

15,313
10,938
13,125
7,438
7,438
7,438
7,438
7,083
7,083
7,438
7,438
6,563
6,563
6,563
6,250
6,250
6,250
6,250
6,563

14,942
9,500
173,858

14,942
9,500
173,858

14,942
9,500
173,858

14,942
9,500
173,858

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

5,688
5,250
3,500
4,813

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

1,925
2,000
23,175

516,371

516,371

516,371

516,371

5
69

5
69

5
69

5
69

10

10

10

10

$500.00
$92.00

$500.00
$92.00

$500.00
$92.00

$500.00
$92.00

WorkMarket
Revenue Build

Apr-10

May-10

Jun-10

Jul-10

Beta Customers Revenue - Lane 3
Beta Customers Revenue - Lane 2

$0
$0

$0
$0

$0
$0

$0
$0

Launch Customers Revenue -Lane 3
Launch Customers Revenue -Lane 2

$0
$0

$0
$0

$0
$0

$0
$0

0
0
0

0
0
0

0
0
0

0
0
0

-

-

-

-

Total New Customer Revenue

$0

$0

$0

$0

Total Revenue

$0

$0

$0

$0

0
0
-

0
0
-

0
0
-

0
0
-

New Customers
Lost Customers
Cumulative New Customers
Lane 3
Lane 2
WMRemote
Service Layer

Number of Work Orders - Lane 3
Number of Work Orders - Lane 2
Number of Work Orders - Remote

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Jan-11

Feb-11

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

$0
$0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

-

-

-

-

-

-

-

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

0
0
-

0
0
-

0
0
-

0
0
-

0
0
-

0
0
-

0
0
-

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

$0
$0

$22,000
$2,500

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$0
$0

$0
$0

$0
$0

$88,000
$22,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

9
(2)
7

12
(2)
17

12
(2)
26

12
(2)
36

12
(2)
46

18
(4)
60

18
(4)
74

31,680
15,840
3,312
2,250

73,920
36,960
7,728
5,250

116,160
58,080
12,144
8,250

158,400
79,200
16,560
11,250

200,640
100,320
20,976
14,250

264,000
132,000
27,600
18,750

327,360
163,680
34,224
23,250

$53,082

$123,858

$194,634

$265,410

$336,186

$442,350

$548,514

$53,082

$148,358

$243,634

$424,410

$605,186

$711,350

$817,514

1,800
1,800
720

5,450
4,484
1,680

9,100
7,168
2,640

16,500
12,068
3,600

23,900
16,968
4,560

27,500
20,568
6,000

31,100
24,168
7,440

Oct-11

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

24
(5)
94

24
(5)
113

24
(5)
132

24
(5)
151

8
(2)
158

8
(2)
164

8
(2)
170

411,840
205,920
43,056
29,250

496,320
248,160
51,888
35,250

580,800
290,400
60,720
41,250

665,280
332,640
69,552
47,250

693,440
346,720
72,496
49,250

721,600
360,800
75,440
51,250

749,760
374,880
78,384
53,250

$690,066

$831,618

$973,170

$1,114,722

$1,161,906

$1,209,090

$1,256,274

$959,066

$1,100,618

$1,242,170

$1,383,722

$1,430,906

$1,478,090

$1,525,274

35,900
28,968
9,360

40,700
33,768
11,280

45,500
38,568
13,200

50,300
43,368
15,120

51,900
44,968
15,760

53,500
46,568
16,400

55,100
48,168
17,040

May-12

Jun-12

Jul-12

Aug-12

Sep-12

Oct-12

Nov-12

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$44,000
$5,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

$176,000
$44,000

8
(2)
177

8
(2)
183

10
(2)
191

10
(2)
199

10
(2)
207

10
(2)
215

10
(2)
223

777,920
388,960
81,328
55,250

806,080
403,040
84,272
57,250

841,280
420,640
87,952
59,750

876,480
438,240
91,632
62,250

911,680
455,840
95,312
64,750

946,880
473,440
98,992
67,250

982,080
491,040
102,672
69,750

$1,303,458

$1,350,642

$1,409,622

$1,468,602

$1,527,582

$1,586,562

$1,645,542

$1,572,458

$1,619,642

$1,678,622

$1,737,602

$1,796,582

$1,855,562

$1,914,542

56,700
49,768
17,680

58,300
51,368
18,320

60,300
53,368
19,120

62,300
55,368
19,920

64,300
57,368
20,720

66,300
59,368
21,520

68,300
61,368
22,320

Dec-12
$44,000
$5,000
$176,000
$44,000
10
(2)
231
1,017,280
508,640
106,352
72,250
$1,704,522
$1,973,522

70,300
63,368
23,120

WorkMarket
Revenue Assumptions

Work Orders
Customer Breakdown Assumptions
Beta Customers
Lane 3
Lane 2
Remote
Service Layer

500
250

Monthly Rev

8,800
1,000

Buildout

5

9,800
Launch
Lane 3
Lane 2
Remote
Service Layer

1,000
500

17,600
4,400

10

22,000
Customer Acquisition
Lane 3
Lane 2
Remote
Service Layer

250
250
100
100

Other Assumptions
Work Order Size
On-site
Remote
Service Layer

$120
$20
$25

WorkMarket - Lane 3
Platform Payment
Management Payment

$8
8%

WorkMarket - Lane 2
Platform Payment
Management Payment

$4
4%

WMRemote
Platform Payment
Management Payment

$3
8%

Attach Rate Service Layer
Service Layer Split

10%
25%

Customer Attrition

20%

4,400
2,200
460
313
7,373

3
1

Time

Beta

Launch

Per Saleman/Month
Per Saleman/Month

Jan-12

WorkMarket
Income Statement and Cash Requirements

Apr-10
Net Revenue

May-10

Jun-10

Jul-10

$0

$0

$0

$0

Cost of Goods Sold
Cost of Goods Sold - Payroll
Gross Profit
Gross Margin

$0
0.0%

$0
0.0%

17,000
($17,000)
0.0%

2,000
($2,000)
0.0%

Selling, General and Administrative
General & Administrative
Sales & Marketing
Payroll - Executive and Administration
Payroll - Product Development
Payroll - Business Development & Marketing
Payroll - Sales
Total SG&A
Margin

0
0
0
0
0
$0
0.0%

0
0
0
0
0
$0
0.0%

74,500
1,000
0
13,081
0
0
$88,581
0.0%

9,560
1,000
0
22,496
0
0
$33,056
0.0%

-

-

8,858

3,306

$0
0.0%

$0
0.0%

($114,439)
0.0%

($38,362)
0.0%

$0
$0

$0
$0

$0
($114,439)

$0
($38,362)

$0
($2,701,601)

$0

($114,439)

($152,801)

Cushion
Operating Profit/(Loss)
Operating Margin
Taxes
Total Cash Uses
Cumulative Cash Needs
Cash Trough

10%

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Jan-11

Feb-11

$0

$0

$0

$0

$0

$0

$0

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
($3,000)
0.0%

3,000
1,309
($4,309)
0.0%

3,000
21,486
($24,486)
0.0%

46,292
8,500
18,986
63,363
19,746
0
$156,886
0.0%

26,076
8,500
18,986
70,944
44,323
0
$168,829
0.0%

22,188
11,000
18,886
70,711
44,157
16,256
$183,197
0.0%

25,360
13,500
31,246
79,931
44,629
50,278
$244,944
0.0%

26,196
13,500
31,246
99,799
44,629
58,379
$273,749
0.0%

18,308
13,500
31,246
107,900
44,629
58,379
$273,961
0.0%

21,644
14,000
31,246
107,900
44,629
58,379
$277,797
0.0%

15,689

16,883

18,320

24,494

27,375

27,396

27,780

($175,575)
0.0%

($188,712)
0.0%

($204,517)
0.0%

($272,438)
0.0%

($304,123)
0.0%

($305,666)
0.0%

($330,063)
0.0%

$0
($175,575)

$0
($188,712)

$0
($204,517)

$0
($272,438)

$0
($304,123)

$0
($305,666)

$0
($330,063)

($328,376)

($517,088)

($721,605)

($994,043)

($1,298,166)

($1,603,833)

($1,933,896)

$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
($200,000)
($400,000)

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

($600,000)

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

($200,000)

($400,000)

($600,000)

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

$53,082

$148,358

$243,634

$424,410

$605,186

$711,350

$817,514

4,194
21,486
$27,401
51.6%

31,338
43,039
$73,981
49.9%

18,482
43,039
$182,114
74.7%

27,549
43,039
$353,822
83.4%

31,617
43,039
$530,531
87.7%

34,005
43,039
$634,306
89.2%

36,494
50,375
$730,645
89.4%

17,409
20,747
31,246
107,900
44,629
58,379
$280,309
528.1%

26,778
31,869
31,246
107,900
44,629
74,580
$317,001
213.7%

19,754
39,491
31,246
107,900
44,629
74,580
$317,600
130.4%

33,874
53,953
31,246
107,900
44,629
90,782
$362,383
85.4%

21,778
68,415
31,246
107,900
44,629
90,782
$364,749
60.3%

22,309
76,908
31,246
107,900
44,629
90,782
$373,773
52.5%

33,238
86,226
37,123
112,292
73,529
96,121
$438,528
53.6%

28,031

31,700

31,760

36,238

36,475

37,377

43,853

($280,939)
-529.3%

($274,720)
-185.2%

($167,246)
-68.6%

($44,799)
-10.6%

$129,307
21.4%

$223,156
31.4%

$248,264
30.4%

$0
($280,939)

$0
($274,720)

$0
($167,246)

$0
($44,799)

$25,861
$103,445

$44,631
$178,524

$49,653
$198,611

($2,214,835)

($2,489,555)

($2,656,801)

($2,701,601)

($2,598,156)

($2,419,631)

($2,221,020)

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

Dec-12

Oct-12

Aug-12

$0

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

Dec-12

Oct-12

Aug-12

$500,000

$0

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

$959,066

$1,100,618

$1,242,170

$1,383,722

$1,430,906

$1,478,090

$1,525,274

39,679
50,375
$869,012
90.6%

42,864
55,000
$1,002,754
91.1%

46,049
55,000
$1,141,121
91.9%

49,234
59,625
$1,274,863
92.1%

50,295
59,625
$1,320,986
92.3%

51,357
68,375
$1,358,358
91.9%

52,419
68,375
$1,404,480
92.1%

24,495
107,550
37,123
112,292
73,529
96,121
$451,110
47.0%

28,553
118,874
42,917
112,292
73,529
96,121
$472,286
42.9%

26,111
130,199
42,917
112,292
73,529
96,121
$481,168
38.7%

30,169
141,523
42,917
112,292
73,529
103,840
$504,268
36.4%

28,930
145,297
42,917
112,292
73,529
111,558
$514,523
36.0%

34,290
149,072
42,917
112,292
73,529
136,640
$548,740
37.1%

29,901
152,847
42,917
112,292
73,529
144,015
$555,500
36.4%

45,111

47,229

48,117

50,427

51,452

54,874

55,550

$372,791
38.9%

$483,240
43.9%

$611,837
49.3%

$720,168
52.0%

$755,010
52.8%

$754,744
51.1%

$793,430
52.0%

$74,558
$298,233

$96,648
$386,592

$122,367
$489,469

$144,034
$576,134

$151,002
$604,008

$150,949
$603,795

$158,686
$634,744

($1,922,787)

($1,536,196)

($1,046,726)

($470,592)

$133,416

$737,212

$1,371,956

$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
($2,000,000)

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

($4,000,000)

Feb-12

Dec-11

Oct-11

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-10

Oct-10

Aug-10

Jun-10

Apr-10

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

($2,000,000)

($4,000,000)

$1,678,622

$1,737,602

$1,796,582

$1,855,562

$1,914,542

53,480
77,125
$1,441,853
91.7%

54,542
86,288
$1,478,813
91.3%

55,869
95,450
$1,527,303
91.0%

57,196
104,613
$1,575,793
90.7%

58,523
113,775
$1,624,284
90.4%

59,850
113,775
$1,681,937
90.6%

61,177
113,775
$1,739,590
90.9%

31,912
156,622
42,917
112,292
73,529
151,390
$568,661
36.2%

42,348
160,396
42,917
112,292
73,529
158,765
$590,247
36.4%

32,315
165,115
42,917
112,292
73,529
166,140
$592,307
35.3%

31,127
169,833
42,917
112,292
73,529
166,140
$595,837
34.3%

33,181
174,552
42,917
112,292
73,529
173,858
$610,328
34.0%

30,326
179,270
42,917
112,292
73,529
173,858
$612,192
33.0%

30,621
183,988
42,917
112,292
73,529
173,858
$617,205
32.2%

56,866

59,025

59,231

59,584

61,033

61,219

61,720

$816,326
51.9%

$829,541
51.2%

$875,765
52.2%

$920,372
53.0%

$952,923
53.0%

$1,008,526
54.4%

$1,060,664
55.4%

$163,265
$653,060

$165,908
$663,633

$175,153
$700,612

$184,074
$736,298

$190,585
$762,338

$201,705
$806,821

$212,133
$848,532

$2,025,016

$2,688,649

$3,389,261

$4,125,559

$4,887,898

$5,694,718

$6,543,250

Dec-12

$1,619,642

Oct-12

$1,572,458

Aug-12

Nov-12

Jun-12

Oct-12

Apr-12

Sep-12

Feb-12

Jul-12

Dec-11

Jun-12

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

May-12

Aug-12

Dec-12

Oct-12

Aug-12

Jun-12

Apr-12

Feb-12

Dec-11

Oct-11

Aug-11

Jun-11

Apr-11

Feb-11

Dec-12
$1,973,522
62,504
113,775
$1,797,243
91.1%

30,916
188,707
42,917
112,292
73,529
173,858
$622,218
31.5%
62,222
$1,112,803
56.4%
$222,561
$890,242
$7,433,492