Kegan Real Estate

We build better world with luxurious life

BUSINESS
PLAN
2020 - 21

John Doe 10200 Bolsa Ave, Westminster, CA, 92683 (650) 359-3153

[email protected] https://upmetrics.co
Table of Contents

Executive Summary 3
Market Opportunity 3
Demand for Housing 3
Management 3
Financing & Investment Forecast 4
Company Overview 5
Introducing Kegan 5
Business Model 5
Short Term Goals 5
Long Term Strategies 5
Keys to Success 6
Kegan Villas 7
Location 7
Contemporary Living for the 21" Century 7
The Complete Package 7
Pricing Strategy 7
Implementation Strategy - Action Plan 8
Market Opportunity 9
Target Market Overview 9
Demand for Housing 9
Housing Shortage Overview in Saudi Arabia 9
Housing Shortage Overview in Riyadh 9
Housing Prices 9
Kegan Home Prices 10
Marketing & Sales 11
Market Positioning & Brand 11
Marketing Strategies 11
Sales Strategies 11
Sales Process 11
Competition & Competitive Advantages 13
Competitive Landscape 13
Direct Competitors 13
Features 13
Competitive Advantages 14

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Company & Management 15
Company 15
Development Team 15
Developer 15
RASHID BIN SAID 16
Director of Construction 16
Future Senior Team Members 16
Director of Construction 16
MEMBER NAME 17
Chief Accountant 17
MEMBER NAME 17
Director of Marketing & Sales 17
MEMBER NAME 17
Other Staff 17
Independent Directors 18
Financial Plan 19
Financing & Investment Forecast 19
Solid Balance Sheet 19
Impressive Cash flow 19
Financial Summary 20
Financial Assumptions 20
Projected Profit and Loss 20
Balance Sheet Projections 22
Cash Flow Statement 23

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Executive Summary

Overview: Mr. Rashid Bin Said, a banking executive based in Riyadh, Saudi
Arabia has developed a unique concept for residential housing communities to
be located in the King Abdullah Financial District area of Riyadh located north
of the city. The initial community will have between 25-50 single-family villas
and will be targeted toward middle-class residents of Riyadh.
Read More 

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Market Opportunity

According to a Jones, Lang, Lasalle report published in 2008, "the Saudi real
estate market is in an early stage of development. It S however, poised for
liftoff with demographic fundamentals and massive infrastructure investment
providing the basis for growth and a positive outlook for most sectors of the
real estate market. The residential sector offers the greatest potential. With an
estimated residential stock of 875 million sq. m. in 4 million dwellings,Read
the More
Saudi residential market is more than ten times larger than any other Gulf

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Demand for Housing

A strong demand for housing sterns sustainable for the near future, creating
good opportunities for the real estate development business. Based on the
most conservative estimates, housing units are expected to increase from 439
million housing units in 2004 to reach 7.01 million by 2020, representing a total
investment of SAR 1.2 trillion. (Source: Jones, Lang, Lasalle.)
Read More 
Competition: There are a number of home builders and developers of

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Management

2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 3 / 24

 Mr. Rashid Bin Said, a US. educated career banker will build an outstanding
team of individuals that will form the Kegan development team.

Read More 

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Financing & Investment Forecast

In order to launch the Company, Kegan is seeking an investment of permanent

capital in the amount of SR 50 million. In return for its cash investment, the new
shareholders will receive an equity interest in the Company. The following
financial summary is based upon the successful completion of the five
residential communities (25 homes each) and is presented for illustration
purposes only. No distributions or return of capital are contemplated within
Read More 
these figures.

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 4 / 24

Company Overview

Introducing Kegan

Welcome to Kegan Real Estate

Company, Saudi Arabia's newest home
builder and developer of residential
communities.

Kegan Real Estate will design and build new Read More 
villas and communities with the customer in

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Business Model

Kegan is a real estate developer in the truest sense of the word. It owns no
construction equipment. Nor does it employ construction workers. There are no
engineers, architects, or designers on its staff. Kegan buys land and utilizing
the resources of others on a variable cost basis, turns the land into profits.

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means there are few fixed operating expenses.
Read More 
While there will be land and inventory on the Company's balance sheet, the

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Short Term Goals

During the first two years of the planning period, Kegan will achieve the
following goals and objectives:

Register the Company as a Saudi corporate entity;

Raise the capital necessary to develop the first community;
Readof
Assemble the Company's senior team which will include a Director More 

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Long Term Strategies

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 Kegan has set the following longer-term strategies for the Company:

The profits from the completion of the first community will be retained in
the Company and used to build the Company's balance sheet;
Toward the end of year 2, Kegan intends to close the acquisition of its
second piece of land; Read More 

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Keys to Success

Kegan believes it has the right combination of experience, skill, and vision to
quickly put the Company on a rapid track for growth and profits. The following
factors will contribute to its success:

Land for residential development will be acquired only in excellent

locations; Read More 
Well conceived and compelling architectural design will be Saudi specific

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Kegan Villas

Location

The Company's first residential development will be located in the King

Abdullah Financial District area of Riyadh located north of the city. Riyadh is
the capital city of the Kingdom of Saudi Arabia and now rivals any modem city
in the world in the splendor of its architecture. Broad highways sweep through
the city, passing over or under each other in an impressive and still growing
road network Trees now bedeck the Woad streets and venues, giving Read pleasure
More 
to passers-by and shade to those who linger beneath them. Today the city

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Contemporary Living for the 21" Century

In its first community, Kegan will build comfortable, affordable villas that are
Saudi specific, yet unique and right for the way people want to live today. A
typical Kegan three-story villa offers a versatile floor plan. The upper level is
spacious with three bedrooms, two full baths, and a balcony that may be

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converted to a fourth bedroom. The luxurious master suite will be a favorite
retreat with its private deluxe bath featuring an extravagant garden tub. Read More 
Downstairs, the buyer will discover little touches that make a big impression.

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The Complete Package

Buying a Kegan villa is not only unique but is also the Company's principal
competitive advantage. In Saudi Arabia new homes are typically sold as shells
with only the fixtures, flooring, garage and landscaping included. The buyer
buys the shell and is responsible for all other improvements. With a Kegan villa,
the buying experience is turned on its head because a Kegan home will include
split A/C„ all cabinetry, complete kitchens and bathrooms, all electronics,
Readall
More 
furnishings, finishes, and all furniture.

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Pricing Strategy

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 Kegan has determined that its target customer can afford to pay SR 13-1.4
million for a completely furnished, nicely sized villa. Furthermore, Kegan has
determined that to achieve its anticipated investment returns, the villas must
be priced at a multiple of 1.8 times cost. The pricing scenario assumes that the
average villa will have a total of 400 sqm of living space in three levels and be
constructed on a plot of approximately 400 sqm. The table below provides an 
Read More
analysis of the land, construction, and furnishings cost of the average villa.

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Implementation Strategy - Action Plan

The following is a step by step approach to the successful development of

Kegan's first residential community project. Please note that while a numerical
order is provided, some activities will happen simultaneously.

Implementation Strategy
Read More 
1. Locate properly

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 8 / 24

Market Opportunity

Target Market Overview

Riyadh, or Arriyadh, is the capital of Saudi Arabia and the nation's legislative,
financial administrative, diplomatic, and commercial center. It is also the
location for foreign embassies, universities, banks, and corporate
headquarters.

In a region where tradition, modernity, and globalization converge, Arriyadh is

Read More 
the focal point of the Middle East's largest economy. Arriyadh is an

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Demand for Housing

According to Jones Lang LaSalle, an international financial and professional

services firm specializing in real estate services and investment management,
Saudi Arabia's residential market is defined by two trends:

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A fast-growing and relatively young population along with a declining
average household size, which together is driving demand for additional
Read More 
residential dwellings in all major urban areas of Saudi Arabia.

Housing Shortage Overview in Saudi Arabia

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Colliers International released a report in 24" Quarter of 2009 that provided

ample data on the housing shortage in Riyadh. The report summarized its
findings as follows:

"Riyadh's population continues to grow by 2.2% per annum, prompting the

Development Authority to forecast annual demand for 30,000 residential
Read More 
units by 2013. Despite the efforts of the Saudi Government through the Real

Housing Shortage Overview in Riyadh

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Housing Prices

2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 9 / 24

 The following was prepared by the Banque Saudi Francis in their first BSF Real
Estate Survey conducted at the end of Q1 2010:

"Residential property prices in Saudi Arabia, which eased broadly in 2009,

are on the rise again in 2010, according to the findings of Banque Saudi
Fransi's first BSF Real Estate Survey. The capital city Riyadh has witnessed
Read More 
the biggest gains in apartment and villa prices so far this year, although

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Kegan Home Prices

Kegan homes will be affordable at 350-500 sqm. This is the right size for the
Company's target customer. Kegan believes that this largely un-penetrated
demographic represents people who cannot afford a shell house worth more
than SR 2 million but want a house that is livable and meets all of their
requirements. Prime target customers are professionals of the medium to
upper-medium class, who do not have the time to build their own home, butMore
Read
want a quality home that is affordable and meets their standards and

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 10 / 24

Marketing & Sales

Market Positioning & Brand

In marketing Kegan, the developer has two challenges. The first is creating
awareness for the community in a cost-efficient way that will drive a sufficient
number of qualified prospects into its sales channels. The second challenge is
to distinguish the Property from the other residential developments, not just in
the King Abdullah Financial District but also from residential developments in
all of Riyadh. Read More 
The developer will distinguish Kegan by creating an appealing, unique brand. In

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Marketing Strategies

Kegan will achieve its marketing objectives through a carefully conceived and
aggressively implemented marketing program highlighted by the following
tactics:

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Advertising in major Riyadh newspapers and news sites;
An incentive program for the local real estate agents and brokers to More
Read refer
buyers to Kegan;

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Sales Strategies

Kegan's marketing strategies are designed to drive prospective buyers into the
Company's sales channels so that prospects can be converted into villa
buyers. Kegan will implement a multi¬faceted sales approach to attract,
contact and retain

New customers through several approaches: Read More 

Professional in-house sales team to field inbound inquiries and work with

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Sales Process

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 When prospective buyers visit the Kegan community sales center, they will be
greeted by a sales agent and are asked how they might be assisted. Most
visitors will be encouraged to first tour the sales center where they will be able
to see graphically enhanced drawings, plans, and photographs of both interior
and exterior villa features. It is at this time that the sales agent will explain the
unique way in which Kegan villas are purchased and how that differs from Read More 
other communities that they might have an interest. Pricing information will be

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 12 / 24

Competition & Competitive Advantages

Competitive Landscape

As was documented in Section 4 of this document, there is a significant

demand for new housing in Saudi Arabia and specifically in the Riyadh
metropolitan area. The response to this demand has been the growth of the
residential building sector of the economy. There are a small number of large
residential builders and community developers in Riyadh as well as a larger
number of smaller builders. The biggest issues that separate one builderReadfrom
More 
another are quality, affordability, and value. Kegan intends to position itself at

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Direct Competitors

Features

Dar Al-Arkan Al-Saedan

Dar Al-Arkan is now operating on Al-Saedan Real Estate Co is one
a larger scale than before and of the leading real estate

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believes it is now leading the way
in the Kingdom in the design,
project management and
construction of master-planned
lifestyle residential communities.
companies in Saudi Arabia and
within Arab countries. The
company has a strong profile of
development achievements in the
field of plans development,
Such communities are developed building commercial and
over large parcels of land and residential centers, sellingand
include social as well as public buying local and international real
service utilities, leisure space, estates, providing consultation in
sporting facilities and other real estates and providing
amenities. valuation and estimation
http://www.slarkan.com/ services.
http://www.saedan.com/?p2

2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 13 / 24

 Almosa Real Estate

There does not appear to be a

website on this company.
However, Kegan believes that
this company is similar to Dar Al-
Arkan and Saedan in that Almosa
is a large company that has more
interest in buying land than in
building communities with the
people who live there in mind.

Competitive Advantages

Kegan Real Estate Company believes that once it begins operations it will have
a small number of important competitive advantages over the other builders
including:

Though Kegan will begin much smaller than most established builders, it
will be managed as professionally as the most professional of them.
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Kegan is a small size coupled with important strategic relationships that

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 14 / 24

Company & Management

Company

Kegan Real Estate Company will register as a corporate entity under the laws
of the Kingdom of Saudi Arabia prior to raising the capital for the first
development. Kegan's offices will be located in Riyadh. The Company, when
fully staffed will have 6 full-time employees, complemented by several
independent contractors and part-time consultants on a project basis.
Read More 

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Development Team

Kegan has allocated '1 year from the time the initial capital is raised for the
project until the first community is ready to sell its first villa. Kegan's founder
understands that the development of the project is a team effort. The Kegan
development team will consist of Kegan founder, a Director of Construction,

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and an impressive list of design and construction firms.
Read More 
Assembling a team of professionals to address the environmental, economic,

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The founder will act as the Developer. The developer will be responsible for.

Completing concept, feasibility, and budget;

Property Acquisition;
Hiring and supervising the Director of Construction;
Read More 
Organizing all financing;

Developer
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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 15 / 24

 RASHID BIN SAID
Founder, Developer & CEO
- [email protected]
Mr. Bin Said graduated from Marymount University in the United States with a
combined major in Marketing and Mass Communications. Post-graduation he
worked for the Walt Disney Company (NYSE DIS) and Bank of America (NYSE:
BAC) in the US.

Mr. Bin Said returned to Saudi Arabia in late 2003 where he joined the Samba
Financial Group as a Relationship Manager in the Corporate and Investment
/Smiting Group, handling top tier corporate clients and their banking needs. He
later moved to the Arab National Bank where he served in a similar position for 2
years. Mr. Bin Said is currently a Senior Relationship Manager at Alinma Bank.
Subsequent to the funding anticipated by this document, Bin Said will resign his
position with the Bank and commit his full time to Kegan Real Estate Company.

The Director of Construction will be responsible for all aspects of the

construction of the project. This means that the Director of Construction will be
responsible for turning over a completed villa to the Developer for sale to each
customer. Specific responsibilities include:

Hiring and supervising a General Contractor; Read More 

Communicating with the architects and other members of the design

Director of Construction
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Future Senior Team Members

The Director of Construction will oversee all aspects of an entire building and
construction project, so organizational skills are pertinent. He will typically have
a university degree in architecture, construction science, or a related field with
an emphasis on construction management and at least 5 years of professional
experience. This individual will have experience in reading construction
documents and manuals, estimating, procuring, budgeting, and possess Read More 
excellent communication skills.

Director of Construction
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 MEMBER NAME

 Director of Construction

The Chief Accountant, under the direction of the CEO, is responsible for
supervision and control of the general accounting area, and for financial
statement and report preparation. This individual will possess a university
degree in accounting and have at least 5 years of job experience related to real
estate or construction.
Read More 
The Chief Accountant will be responsible for the supervision and control of the

Chief Accountant
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MEMBER NAME

 Chief Accountant

The Director of Marketing & Sates will provide leadership and coordination of
all sales and marketing functions and strategies reporting to the CEO. This
individual must have previous experience in the marketing and sales of single-
family homes in the Kingdom. Specific responsibilities will include:

Direct and coordinate Company sales and marketing functions; Read More

Direct and oversee the Company's marketing functions to identify and

Director of Marketing & Sales

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MEMBER NAME

 Director of Marketing & Sales

Other Staff

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 In addition to the four senior management team members highlighted above,
Kegan will employ the following additional full-time staff members:

Sales Manager responsible for villa sales

Administrative Assistant to the CEO and Director of Construction
Part-time sales agents will assist the Sales Manager in villa sales.
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More 
other duties will be outsourced.

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Independent Directors

Independent directors collectively possess an extensive business, legal,

regulatory, financial, and entrepreneurial experience. Kegan believes that the
most effective independent directors will come from the Company's investor
group or individuals suggested by its investors.

Read More 

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2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 18 / 24

Financial Plan

Financing & Investment Forecast

In order to launch the Company and complete lave residential developments,

Kegan S seeking an investment of permanent capital in the amount of SR 50
million. In return for its cash investment, the new shareholders will receive an
equity interest in the Company.

There are two very important distinguishing factors that separate Kegan from
Read More 
other residential community developers. The first is its unique business model

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The business model that has been detailed in this document provides for the
development of 5 -25 single family home developments to be built during the 6
year planning period. In years 2 - 6, the company will return in excess of 30% on
sales and a return on investment approaching 20% in each year. The Company
is being capitalized on a solid foundation of permanent capital. No debt will be
employed in the development of the first five communities. Read More 

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Solid Balance Sheet
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Perhaps the most compelling aspect of the financial model is its cash flow.
Kegan generates a positive cash flow of approximately SR 9 million in years 2 -
3 and an impressive SR 23 million in year 6. This leaves ample cash available
for distributions in the event that the Company's Board of Directors was to
decide on annual distributions. For example, if the Board were to distribute say,
SR 5 million in each year beginning in year 2, the investors would receive
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More 
entire return of capital by the end of year 6. If the Board were to decide not to

Impressive Cash flow

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The following financial summary is based upon the successful completion of

the five residential communities (25 homes each) and is presented for
illustration purposes only. No distributions or return of capital are
contemplated within these figures.

Read More 

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Financial Summary
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Financial Assumptions

It is assumed that:

Kegan will start one residential community each year for five years.
Each community will have 25 homes
Each community will take 24 months to complete, with the following
timeline: Read More 

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Projected Profit and Loss

Year1 Year2 Year3 Year4 Year5
REVENUE
Single Family Homes 0 32,500,000 32,500,000 32,500,000 32,500,000
Minus: Sales 0 (812,500) (812,500) (812,500) (812,500)
Communications and
Expenses
Net Revenue
0 31,687,500 31,687,500 31,687,500 31,687,500

COST OF SALES
Land and
15,000,000 15,000,000 15,000,000 15,000,000 0
Construction
Basic Leaving
0 2,145,000 2,145,000 2,145,000 2,145,000
Necessities
Furniture (Ground
0 950,000 950,000 950,000 950,000
Floor)
Furniture (2nd & 3rd
0 1,375,000 1,375,000 1,375,000 1,375,000
Floor)
Electronics 0 450,000 450,000 450,000 450,000
Total Cost of Good Sold 15,000,000 19,920,000 19,920,000 19,920,000 4,920,000

GROSS PROFIT (15,000,000) 11,767,500 11,767,500 11,767,500 11,767,500

2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 20 / 24

 Year1 Year2 Year3 Year4 Year5
OPERATING EXPENSES

Payroll Expenses
Payroll 1,800,000 1,890,000 1,984,500 2,187,911 2,297,337
Payroll Taxes 162,000 170,100 176,605 196,912 206,769
Employee Benefits 12,000 12,600 13,230 14,936 16,316
Payroll Processing 1,930 1,390 1,985 2,136 2,297
Total Payroll Expenses 1,975,800 2,074.590 2,178,320 2,401,997 2,621,517

Year1 Year2 Year3 Year4 Year5

General and
Administrative
Expense
Automobile
145,000 152,250 159,063 167,898 178,246
Expense
Computer
50,000 52,500 55,126 57,661 80,775
Expense
Due and
1,930 1,390 1,985 2,034 2,297
Subscriptions
Entertainment
0 0 0 0 0
and Meals
Insurance 0 0 0 0 0
Miscellaneous 0 0 0 0 0
Office Expense 8,000 6,300 6,615 8,946 7,293
Postage and
Delivery 2,400 2,520 2,413 2,778 2,917

Accounting Fees 100,000 105,000 110,250 115,783 121,651

Legal Fees 70.000 73.500 77.175 81.034 65,035
Rent 200,000 210,000 220,500 231,525 243,101
Telephone 13,000 13,850 14,333 15,049 15,932
Travel 93,030 31,500 33,075 34,729 30,465

Total General and

Administrative 618,200 849,110 681,566 715,844 751,428
Expenses

2020 - 21 Bu sin ess P la n | Kega n Rea l E st a t e 21 / 24

 Year1 Year2 Year3 Year4 Year5

OPERATING
2,594,000 2,723,700 2,859,885 3,002,379 3,153,023
EXPENSES
(17,934,000) 9,043,800 8,907,615 8,764,621 8,131,477
Deprecitation 0 0 0 0 0
Interest Payment 0 0 0 0 0

NET INCOME (17,934,080) 9,043,800 8,937,615 8,7134,621 8,814,477

Balance Sheet Projections

Year1 Year2 Year3 Year4 Year5
Current Assets
Cash 32,722,417 41,771,621 93 664 910 59,455 489 68,076,222
Account
0 0 0 0 0
Receivables
Total Current 32722,417 41,771,621 50,684,910 99,455489 63,076,222
Assets

Long-Term Assets
Prop. Systems
and 0 0
Equipment(net)
Total Long-
0 0 0 0 0
Term Assets

Total Assets
32,722417 41,771,621 50,684,910 59,455,489 63,076,222

Liabilities and
Stockholder’s
Equity

Current Liabilities

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 Year1 Year2 Year3 Year4 Year5
Account
316 417 321 821 7195 333,453 3;9,09
Payable

Line of Credit 0 0 0 0 0
Total Current 316,617 321,821 327,495 333,453 339,709
Liabilities

Total Liabilities 316,617 321,821 327,495 333,453 339,709

Stockholder's
Equity
Common Stock 60,000,000 60000,000 60,000,000 60,000000 60,000,000
Retained
(17,544,000) (8,550,200) 367,415 9,122036 17,735513
Earnings
Total 32,406,000 41449,800 50,357,415 59,122,036 67,736,513
Stockholders'
Equity
Total Liabilities
&
32,722,417 41,771,621 50,684,910 59455,489 63,076,222
Stockholder’s
Equity

Cash Flow Statement

Year1 Year2 Year3 Year4 Year5
CASH INFLOWS
Collection of
Accounts 0 31,887,500 31,687,500 31,687,500 31,837,930
Receivable
Proceeds from
0 0 0 0 0
line of Credit
Proceeds from 50,000,000 0 0 0 0
Shareholders
TOTAL CASH
60,000,000 31,687,930 31,687,500 31,687,500 31,667,500
INFLOWS

CASH OUTFLOWS
Payment on
17,277,933 22,839,298 22,774,211 22116921 23,088,787
account Payable

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 Year1 Year2 Year3 Year4 Year5
Payment to
Purchase Fixed 0 0 0 0 0
Assets
Payment of
Principal to 0 0 0 0 0
Shareholders
Payment of
Cash,
0 0 0 0 0
Distributions to
Shareholders
Principle
Payment - Line 0 0 0 0 0
of Credit
Interest Payment 0 0 0 0 0
- Line of Credit

TOTAL CASH
17,277,583 22,638,296 22,774,211 22,916,921 23,566,767
OUTFLOWS
NET CASH FLOWS 32,722,017 9,049,204 8,913,289 8,770,579 8,620,733
CASH, BEGINNING
0 32,722,417 41,771,621 50,680,910 93,455,493
OF PERIOD
CASH, END OF
32,722,017 41,771,621 50,684,910 59,455,4E9 68,076,222
PERIOD

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