Date: November 12, 2024

1 Instructions
2 Dashboard
3 Controls
4 Revenue Asumptions
5 Expense Assumptions
6 Payroll Assumptions
7 Fixed Asset Schedules
8 Monthly P&L
9 Annual P&L
10 Monthly CFS
11 Annual CFS
12 Balance Sheet
13 Funding Ask
14 Valuation
Contact:
How this Model works

A. Financial models are an attempt to present a "big picture" view of future financial performance
B. The quality of any forecast is dependent on the quality of the assumptions and the quality of t
focus must be on the quality of the assumptions taken; and its cause-and-effect relationships.

Colour Coding

The Control Tab is the Input Tab for Assumptions.

The tabs in Light Blue reflect the different of Assumptions taken in the model. Th

Tabs in Light Green are output tabs, which display the information from the inpu

$ -
ONLY the BLUE cells containing texts in BLUE are Hard Coded and can be adjuste
0 Cells shaded Grey-Blue contain a dropdown list, and take values from the dropdo
error.
Cells shaded Yellow contain instructions & explanations for the user to better un
of future financial performance. Many simplifying assumptions are made, and the model does not attempt to
sumptions and the quality of the cause-and-effect relationships incorporated into the model. The
ause-and-effect relationships.

mptions taken in the model. These values are controlled by the values input in the Control Tab.

the information from the input tabs. Do not modify anything on the green tabs.

Hard Coded and can be adjusted by the user without compromising the excel formulas.
nd take values from the dropdown list only. Any other value inputed, will go on to show the user an

ations for the user to better understand the model, and the asumptions taken by the model
not attempt to
 Overview 2022 2023 2024

Total Revenue $ - $ 614,478 $ 4,858,954

Y.O.Y Growth (%) NA 691%

OPEX and Payroll $ 384,200 $ 1,966,186 $ 2,617,675

EBITDA $ (384,200) $ (1,351,707) $ 2,241,279

EBITDA Margin % NA -220.0% 46.1%

PAT $ (386,390) $ (1,357,499) $ 1,763,336

PAT Margin % NA -221% 36%

Revenue and EBITDA Margins

$40,000,000 88% 150%
79% 100%
$30,000,000 46%
50%
$20,000,000 0%
-50%
$10,000,000 -100%
-220% -150%
$0
2022 2023 2024 2025 -200%
-$10,000,000 -250%

Total Revenue EBITDA

EBITDA Margin (%)

Usage of Funds
General and
Payroll; 17% Adminstrative;
10%

Marketing; 39%
Technology;
34%
 Marketing; 39%
Technology;
34%
 2025 2026

$ 15,724,307 $ 35,564,227
224% 126%

$ 3,379,697 $ 4,215,706

$ 12,344,610 $ 31,348,521
78.5% 88.1%

$ 9,743,257 $ 24,754,919
62% 70%

PAT and Margin %

150% $30,000,000 70% 100%
100% $25,000,000
50% 62%
$20,000,000 0%
0% 36%
-50% $15,000,000
-100%
-100% $10,000,000
-150% $5,000,000 -221%
-200% -200%
-250% $-
2022 2023 2024 2025
$(5,000,000) -300%

PAT PAT Margin %

Break-up of Operating Expenses

$2,000,000
e;
$1,500,000

$1,000,000

$500,000

$-
39% 2022 2023 2024 2025 2026

General and Adminstrative Marketing

 $500,000

$-
39% 2022 2023 2024 2025 2026

General and Adminstrative Marketing

Technology Payroll
0% 100%

0%

-100%

-200%
025
-300%

Product Devlopment 60%

Marketing 30%
Opex 10%

2026

g
 2026

g
Company ABC Financial Model
Control Sheet
All amounts in USD, unless stated otherwise

2022 2023
Revenue Assumptions

Revenue Stream #1 Subscriptions

Academy Acquisition Calculation
Monthly Marketing Budget for Academies (from month 10 onwards) $ 15,000
MoM Growth Rate (%) 2% 2%

Cost of Acquistion (per academy) $ 1,000 $ 1,000

YoY Growth Rate (%) 0%

Monthly Marketing Budget for Students $ 50,000

MoM Growth Rate (%) 2% 2%

Cost of Acquistion (per student) $ 100 $ 100

YoY Growth Rate (%) 0%

Number of Academies onboarded Refer Revenue Assumptions

Churn Rate for Academies 5% 5%

Churn rate for Students 5% 5%

Number of students per academy 500 525

YoY Growth Rate (%) 5%

Revenue from coaches per student per month $ 1 $ 1

Average fees for student enrolled for course per month $ 48 $ 49

YoY Growth Rate (%) 3%

% commission charged from coaches per course enrolled (from 2024 on 0% 0%

Revenue Stream #2 Competitions

% of students opting for competitions (from year 2 onwards) 0% 10%

Fees per student per month $ 1 $ 1

YoY Growth Rate (%) 0%

Revenue Stream #3 Value Added Services

% of students opting for VAS (from year 3 onwards) 0% 0%

Average monthly price across VAS $ 5 $ 5

YoY Growth Rate (%) 0%

Expense Assumptions

Operating Expenses (monthly)

Office Rent $ 1,000 $ 1,050
YoY Growth (%) 5%

Marketing Agency for Digital and Social presence (from month 10 onward $ 13,500 $ 14,850
YoY Growth (%) 10%

Tools, technology and platform costs $ 2,500 $ 2,750

YoY Growth (%) 10%

Travelling $ 800 $ 880

YoY Growth (%) 10%

Miscellaneous $ 1,000 $ 1,050

YoY Growth (%) 5%

Corporate Tax Rate 21% 21%

Payroll Assumptions

Annual Increment 7%
Benefits and Taxes 10% 10%

Designations
Founders (from month 10 onwards)
Founder 1 $ 5,000 $ 5,350
Founder 2 $ 5,000 $ 5,350
Founder 3 $ 5,000 $ 5,350
Salespersons/support (from month 10 onwards) $ 1,500 $ 1,605
Digital Marketer (from month 6 onwards) $ 2,000 $ 2,140
Software Engineers $ 3,000 $ 3,210
Product Manager $ 4,500 $ 4,815
UI/UX Designer $ 2,000 $ 2,140
Office Admin staff (from month 10 onwards) $ 1,000 $ 1,070

Capex requirements
Avg per employee initial equipment costs $ 1,000
Office furniture and equipments $ 5,000 $ 10,000
 2024 2025 2026 2027

2% 2% 2% 2%

$ 1,000 $ 1,000 $ 1,000 $ 1,000

0% 0% 0% 0%

2% 2% 2% 2%

$ 100 $ 100 $ 100 $ 100

0% 0% 0% 0%

5% 5% 5% 5%

5% 5% 5% 5%

562 618 680 748

7% 10% 10% 10%

$ - $ - $ - $ -

$ 51 $ 52 $ 54 $ 56
3% 3% 3% 3%

5% 10% 15% 20%

10% 10% 10% 10%

$ 1 $ 1 $ 1 $ 1
0% 0% 0% 0%

8% 10% 15% 15%

$ 5 $ 5 $ 5 $ 5
0% 0% 0% 0%

$ 1,103 $ 1,158 $ 1,216 $ 1,276

5% 5% 5% 5%

$ 16,335 $ 17,969 $ 19,765 $ 21,742

 10% 10% 10% 10%

$ 3,025 $ 3,328 $ 3,660 $ 4,026

10% 10% 10% 10%

$ 968 $ 1,065 $ 1,171 $ 2,460

10% 10% 10% 110%

$ 1,103 $ 1,158 $ 1,216 $ 1,276

5% 5% 5% 5%

21% 21% 21% 21%

7% 7% 7% 7%
10% 10% 10% 10%

$ 5,725 $ 6,125 $ 6,554 $ 7,013

$ 5,725 $ 6,125 $ 6,554 $ 7,013
$ 5,725 $ 6,125 $ 6,554 $ 7,013
$ 1,717 $ 1,838 $ 1,966 $ 2,104
$ 2,290 $ 2,450 $ 2,622 $ 2,805
$ 3,435 $ 3,675 $ 3,932 $ 4,208
$ 5,152 $ 5,513 $ 5,899 $ 6,311
$ 2,290 $ 2,450 $ 2,622 $ 2,805
$ 1,145 $ 1,225 $ 1,311 $ 1,403

$ 15,000 $ 15,000 $ 15,000 $ 15,000

Company ABC
Revenue Assumptions Sheet
Amounts in USD
Month 1 Month 2 Month 3 Month 4
Assumptions for the Monthly Period Apr-22 May-22 Jun-22 Jul-22

Academy Acquisition
Monthly Marketing Budget $ - $ - $ - $ -
Cost of Acquisition $ - $ - $ - $ -

Number of Academies added 0 0 0 0

Calculation for Academies

Opening Balance 0 0 0 0
Addition of New Academies 0 0 0 0
Churn 0 0 0 0
Closing Balance 0 0 0 0

Student Acquisition through Company ABC

Monthly Marketing Budget $ - $ - $ - $ -
Cost of Acquisition $ - $ - $ - $ -

Number of Students added 0 0 0 0

Calculation for Students

Opening Balance 0 0 0 0
Addition of New Students 0 0 0 0
Churn 0 0 0 0
Closing Balance 0 0 0 0

Number of students onboarded per academy - - - -

Number of students on the platform through Academies - - - -
Number of students on the platform through Company ABC - - - -
Total Students on the platform - - - -
Average selling price for a course $ 48 $ 48 $ 48 $ 48
Total value of courses sold $ - $ - $ - $ -

Revenue Stream #1 Academies Subscription

Price taken from Academy per student/per month (till month 21) $ 1 $ 1 $ 1 $ 1
Commissions charged per academy (from month 22 onwards) 0% 0% 0% 0%
Revenue from $1 per student per month $ - $ - $ - $ -
Revenue from commissions charged (academy) $ - $ - $ - $ -
Revenue from Academy subscriptions $ - $ - $ - $ -

Revenue Stream #2 Competitions

Number of students opting for competition - - - -
Fees per student per month $ 1 $ 1 $ 1 $ 1
Revenue from Competition $ - $ - $ - $ -

Revenue Stream #3 Value Added Services

No of Students opting for VAS 0 - - -
Average monthly price across VAS $ 5 $ 5 $ 5 $ 5
Revenue from VAS $ - $ - $ - $ -

Total Revenue $ - $ - $ - $ -
 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23

$ - $ - $ - $ - $ - $ 15,000 $ 15,300
$ - $ - $ - $ - $ - $ 1,000 $ 1,000

0 0 0 0 0 15 15

0 0 0 0 0 0 15
0 0 0 0 0 15 15
0 0 0 0 0 0 1
0 0 0 0 0 15 29

$ - $ - $ - $ - $ - $ 50,000 $ 51,000
$ - $ - $ - $ - $ - $ 100 $ 100

0 0 0 0 0 500 510

0 0 0 0 0 0 500
0 0 0 0 0 500 510
0 0 0 0 0 0 25
0 0 0 0 0 500 985

- - - - - 525 525
- - - - - 7,875 15,225
- - - - - 500 985
- - - - - 8,375 16,210
$ 48 $ 48 $ 48 $ 48 $ 48 $ 49 $ 49
$ - $ - $ - $ - $ - $ 414,060 $ 801,422

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
0% 0% 0% 0% 0% 0% 0%
$ - $ - $ - $ - $ - $ 7,875 $ 15,225
$ - $ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ 7,875 $ 15,225

- - - - - 788 1,523
$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ - $ - $ - $ - $ - $ 780 $ 1,507

- - - - - - -
$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ - $ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ 8,655 $ 16,732
 Month 12 Month 13 Month 14 Month 15 Month 16 Month 17
Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23

$ 15,606 $ 15,918 $ 16,236 $ 16,561 $ 16,892 $ 17,230

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

16 16 16 17 17 17

29 44 58 71 84 97
16 16 16 17 17 17
1 2 3 4 4 5
44 58 71 84 97 109

$ 52,020 $ 53,060 $ 54,122 $ 55,204 $ 56,308 $ 57,434

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100

520 531 541 552 563 574

985 1456 1914 2359 2793 3216

520 531 541 552 563 574
49 73 96 118 140 161
1456 1914 2359 2793 3216 3629

525 525 525 525 525 525

23,100 30,450 37,275 44,100 50,925 57,225
1,456 1,914 2,359 2,793 3,216 3,629
24,556 32,364 39,634 46,893 54,141 60,854
$ 49 $ 49 $ 49 $ 49 $ 49 $ 49
$ 1,214,049 $ 1,600,076 $ 1,959,505 $ 2,318,390 $ 2,676,731 $ 3,008,622

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1
0% 0% 0% 0% 0% 0%
$ 23,100 $ 30,450 $ 37,275 $ 44,100 $ 50,925 $ 57,225
$ - $ - $ - $ - $ - $ -
$ 23,100 $ 30,450 $ 37,275 $ 44,100 $ 50,925 $ 57,225

2,310 3,045 3,728 4,410 5,093 5,723

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 2,287 $ 3,015 $ 3,690 $ 4,366 $ 5,042 $ 5,665

- - - - - -
$ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ - $ - $ - $ - $ - $ -

$ 25,387 $ 33,465 $ 40,965 $ 48,466 $ 55,967 $ 62,890

 Month 18 Month 19 Month 20 Month 21 Month 22 Month 23
Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24

$ 17,575 $ 17,926 $ 18,285 $ 18,651 $ 19,024 $ 19,404

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

18 18 18 19 19 19

109 122 134 145 157 168

18 18 18 19 19 19
5 6 7 7 8 8
122 134 145 157 168 179

$ 58,583 $ 59,755 $ 60,950 $ 62,169 $ 63,412 $ 64,680

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100

586 598 609 622 634 647

3629 4034 4430 4817 5198 5572

586 598 609 622 634 647
181 202 222 241 260 279
4034 4430 4817 5198 5572 5940

525 525 525 525 562 562

64,050 70,350 76,125 82,425 94,416 100,598
4,034 4,430 4,817 5,198 5,572 5,940
68,084 74,780 80,942 87,623 99,988 106,538
$ 49 $ 49 $ 49 $ 49 $ 51 $ 51
$ 3,366,073 $ 3,697,123 $ 4,001,772 $ 4,332,081 $ 5,091,709 $ 5,425,256

$ 1 $ 1 $ 1 $ 1 $ - $ -
0% 0% 0% 0% 5% 5%
$ 64,050 $ 70,350 $ 76,125 $ 82,425 $ - $ -
$ - $ - $ - $ - $ 254,585 $ 271,263
$ 64,050 $ 70,350 $ 76,125 $ 82,425 $ 254,585 $ 271,263

6,405 7,035 7,613 8,243 9,442 10,060

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 6,341 $ 6,965 $ 7,536 $ 8,160 $ 9,347 $ 9,959

- - - - 7,553 8,048
$ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ - $ - $ - $ - $ 37,766 $ 40,239

$ 70,391 $ 77,315 $ 83,661 $ 90,585 $ 301,699 $ 321,461

 Month 24 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30
Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24

$ 19,792 $ 20,188 $ 20,592 $ 21,004 $ 21,424 $ 21,852 $ 22,289

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

20 20 21 21 21 22 22

179 190 200 211 221 231 241

20 20 21 21 21 22 22
9 10 10 11 11 12 12
190 200 211 221 231 241 251

$ 65,974 $ 67,293 $ 68,639 $ 70,012 $ 71,412 $ 72,841 $ 74,297

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

660 673 686 700 714 728 743

5940 6303 6661 7014 7363 7709 8052

660 673 686 700 714 728 743
297 315 333 351 368 385 403
6303 6661 7014 7363 7709 8052 8392

562 562 562 562 562 562 562

106,780 112,400 118,582 124,202 129,822 135,442 141,062
6,303 6,661 7,014 7,363 7,709 8,052 8,392
113,083 119,061 125,596 131,565 137,531 143,494 149,454
$ 51 $ 51 $ 51 $ 51 $ 51 $ 51 $ 51
$ 5,758,548 $ 6,062,967 $ 6,395,750 $ 6,699,711 $ 7,003,519 $ 7,307,174 $ 7,610,676

$ - $ - $ - $ - $ - $ - $ -
5% 5% 5% 5% 5% 5% 5%
$ - $ - $ - $ - $ - $ - $ -
$ 287,927 $ 303,148 $ 319,788 $ 334,986 $ 350,176 $ 365,359 $ 380,534
$ 287,927 $ 303,148 $ 319,788 $ 334,986 $ 350,176 $ 365,359 $ 380,534

10,678 11,240 11,858 12,420 12,982 13,544 14,106

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 10,571 $ 11,128 $ 11,740 $ 12,296 $ 12,852 $ 13,409 $ 13,965

8,542 8,992 9,487 9,936 10,386 10,835 11,285

$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ 42,712 $ 44,960 $ 47,433 $ 49,681 $ 51,929 $ 54,177 $ 56,425

$ 341,211 $ 359,236 $ 378,960 $ 396,962 $ 414,957 $ 432,944 $ 450,924

 Month 31 Month 32 Month 33 Month 34 Month 35 Month 36 Month 37
Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25

$ 22,735 $ 23,190 $ 23,653 $ 24,127 $ 24,609 $ 25,101 $ 25,603

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

23 23 24 24 25 25 26

251 261 271 281 291 301 311

23 23 24 24 25 25 26
13 13 14 14 15 15 16
261 271 281 291 301 311 321

$ 75,783 $ 77,299 $ 78,845 $ 80,422 $ 82,030 $ 83,671 $ 85,344

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

758 773 788 804 820 837 853

8392 8730 9066 9401 9735 10068 10402

758 773 788 804 820 837 853
420 437 453 470 487 503 520
8730 9066 9401 9735 10068 10402 10735

562 562 562 618 618 618 618

146,682 152,302 157,922 179,838 186,018 192,198 198,378
8,730 9,066 9,401 9,735 10,068 10,402 10,735
155,412 161,368 167,323 189,573 196,086 202,600 209,113
$ 51 $ 51 $ 51 $ 52 $ 52 $ 52 $ 52
$ 7,914,076 $ 8,217,375 $ 8,520,623 $ 9,943,274 $ 10,284,886 $ 10,626,552 $ 10,968,164

$ - $ - $ - $ - $ - $ - $ -
5% 5% 5% 10% 10% 10% 10%
$ - $ - $ - $ - $ - $ - $ -
$ 395,704 $ 410,869 $ 426,031 $ 994,327 $ 1,028,489 $ 1,062,655 $ 1,096,816
$ 395,704 $ 410,869 $ 426,031 $ 994,327 $ 1,028,489 $ 1,062,655 $ 1,096,816

14,668 15,230 15,792 17,984 18,602 19,220 19,838

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 14,522 $ 15,078 $ 15,634 $ 17,804 $ 18,416 $ 19,028 $ 19,639

11,735 12,184 12,634 17,984 18,602 19,220 19,838

$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ 58,673 $ 60,921 $ 63,169 $ 89,919 $ 93,009 $ 96,099 $ 99,189

$ 468,898 $ 486,867 $ 504,834 $ 1,102,050 $ 1,139,913 $ 1,177,782 $ 1,215,645

 Month 38 Month 39 Month 40 Month 41 Month 42 Month 43 Month 44
May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25

$ 26,115 $ 26,638 $ 27,170 $ 27,714 $ 28,268 $ 28,833 $ 29,410

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

26 27 27 28 28 29 29

321 331 341 351 361 371 381

26 27 27 28 28 29 29
16 17 17 18 18 19 19
331 341 351 361 371 381 391

$ 87,051 $ 88,792 $ 90,568 $ 92,379 $ 94,227 $ 96,112 $ 98,034

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

871 888 906 924 942 961 980

10735 11069 11404 11740 12077 12415 12755

871 888 906 924 942 961 980
537 553 570 587 604 621 638
11069 11404 11740 12077 12415 12755 13097

618 618 618 618 618 618 618

204,558 210,738 216,918 223,098 229,278 235,458 241,638
11,069 11,404 11,740 12,077 12,415 12,755 13,097
215,627 222,142 228,658 235,175 241,693 248,213 254,735
$ 52 $ 52 $ 52 $ 52 $ 52 $ 52 $ 52
$ 11,309,829 $ 11,651,547 $ 11,993,317 $ 12,335,139 $ 12,677,014 $ 13,018,994 $ 13,361,079

$ - $ - $ - $ - $ - $ - $ -
10% 10% 10% 10% 10% 10% 10%
$ - $ - $ - $ - $ - $ - $ -
$ 1,130,983 $ 1,165,155 $ 1,199,332 $ 1,233,514 $ 1,267,701 $ 1,301,899 $ 1,336,108
$ 1,130,983 $ 1,165,155 $ 1,199,332 $ 1,233,514 $ 1,267,701 $ 1,301,899 $ 1,336,108

20,456 21,074 21,692 22,310 22,928 23,546 24,164

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 20,251 $ 20,863 $ 21,475 $ 22,087 $ 22,699 $ 23,310 $ 23,922

20,456 21,074 21,692 22,310 22,928 23,546 24,164

$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ 102,279 $ 105,369 $ 108,459 $ 111,549 $ 114,639 $ 117,729 $ 120,819

$ 1,253,513 $ 1,291,387 $ 1,329,266 $ 1,367,150 $ 1,405,039 $ 1,442,939 $ 1,480,849

 Month 45 Month 46 Month 47 Month 48 Month 49 Month 50 Month 51
Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26

$ 29,998 $ 30,448 $ 30,905 $ 31,369 $ 31,839 $ 32,317 $ 32,801

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

30 30 31 31 32 32 33

391 401 411 421 431 441 451

30 30 31 31 32 32 33
20 20 21 21 22 22 23
401 411 421 431 441 451 461

$ 99,994 $ 101,494 $ 103,017 $ 104,562 $ 106,130 $ 107,722 $ 109,338

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

1000 1015 1030 1046 1061 1077 1093

13097 13442 13785 14126 14466 14804 15141

1000 1015 1030 1046 1061 1077 1093
655 672 689 706 723 740 757
13442 13785 14126 14466 14804 15141 15477

618 680 680 680 680 680 680

247,818 279,480 286,280 293,080 299,880 306,680 313,480
13,442 13,785 14,126 14,466 14,804 15,141 15,477
261,260 293,265 300,406 307,546 314,684 321,821 328,957
$ 52 $ 54 $ 54 $ 54 $ 54 $ 54 $ 54
$ 13,703,321 $ 15,843,472 $ 16,229,261 $ 16,614,995 $ 17,000,621 $ 17,386,194 $ 17,771,712

$ - $ - $ - $ - $ - $ - $ -
10% 15% 15% 15% 15% 15% 15%
$ - $ - $ - $ - $ - $ - $ -
$ 1,370,332 $ 2,376,521 $ 2,434,389 $ 2,492,249 $ 2,550,093 $ 2,607,929 $ 2,665,757
$ 1,370,332 $ 2,376,521 $ 2,434,389 $ 2,492,249 $ 2,550,093 $ 2,607,929 $ 2,665,757

24,782 27,948 28,628 29,308 29,988 30,668 31,348

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 24,534 $ 27,669 $ 28,342 $ 29,015 $ 29,688 $ 30,361 $ 31,035

24,782 41,922 42,942 43,962 44,982 46,002 47,022

$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ 123,909 $ 209,610 $ 214,710 $ 219,810 $ 224,910 $ 230,010 $ 235,110

$ 1,518,775 $ 2,613,799 $ 2,677,441 $ 2,741,074 $ 2,804,691 $ 2,868,300 $ 2,931,901

 Month 52 Month 53 Month 54 Month 55 Month 56 Month 57 Month 58
Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27

$ 33,294 $ 33,793 $ 34,300 $ 34,814 $ 35,337 $ 35,867 $ 36,405

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000

33 34 34 35 35 36 36

461 471 481 491 501 511 521

33 34 34 35 35 36 36
23 24 24 25 25 26 26
471 481 491 501 511 521 531

$ 110,978 $ 112,643 $ 114,333 $ 116,048 $ 117,788 $ 119,555 $ 121,349

$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

1110 1126 1143 1160 1178 1196 1213

15477 15813 16148 16484 16820 17157 17495

1110 1126 1143 1160 1178 1196 1213
774 791 807 824 841 858 875
15813 16148 16484 16820 17157 17495 17833

680 680 680 680 680 680 748

320,280 327,080 333,880 340,680 347,480 354,280 397,188
15,813 16,148 16,484 16,820 17,157 17,495 17,833
336,093 343,228 350,364 357,500 364,637 371,775 415,021
$ 54 $ 54 $ 54 $ 54 $ 54 $ 54 $ 56
$ 18,157,230 $ 18,542,695 $ 18,928,213 $ 19,313,731 $ 19,699,303 $ 20,084,930 $ 23,093,908

$ - $ - $ - $ - $ - $ - $ -
15% 15% 15% 15% 15% 15% 20%
$ - $ - $ - $ - $ - $ - $ -
$ 2,723,585 $ 2,781,404 $ 2,839,232 $ 2,897,060 $ 2,954,896 $ 3,012,739 $ 4,618,782
$ 2,723,585 $ 2,781,404 $ 2,839,232 $ 2,897,060 $ 2,954,896 $ 3,012,739 $ 4,618,782

32,028 32,708 33,388 34,068 34,748 35,428 39,719

$ 1 $ 1 $ 1 $ 1 $ 1 $ 1 $ 1
$ 31,708 $ 32,381 $ 33,054 $ 33,727 $ 34,401 $ 35,074 $ 39,322

48,042 49,062 50,082 51,102 52,122 53,142 59,578

$ 5 $ 5 $ 5 $ 5 $ 5 $ 5 $ 5
$ 240,210 $ 245,310 $ 250,410 $ 255,510 $ 260,610 $ 265,710 $ 297,891

$ 2,995,502 $ 3,059,095 $ 3,122,696 $ 3,186,297 $ 3,249,906 $ 3,313,523 $ 4,955,994

 Month 59 Month 60
Feb-27 Mar-27

$ 36,951 $ 37,505
$ 1,000 $ 1,000

37 38

531 541
37 38
27 27
541 552

$ 123,169 $ 125,016
$ 100 $ 100

1232 1250

17833 18173
1232 1250
892 909
18173 18514

748 748
404,668 412,896
18,173 18,514
422,841 431,410
$ 56 $ 56
$ 23,529,053 $ 24,005,877

$ - $ -
20% 20%
$ - $ -
$ 4,705,811 $ 4,801,175
$ 4,705,811 $ 4,801,175

40,467 41,290
$ 1 $ 1
$ 40,062 $ 40,877

60,700 61,934
$ 5 $ 5
$ 303,501 $ 309,672

$ 5,049,374 $ 5,151,724
Company ABC
Expense Assumptions Sheet
Amounts in USD
Month 1 Month 2 Month 3
Assumptions for the Monthly Period Apr-22 May-22 Jun-22

Operating Expenses
Office Rent $ 1,000 $ 1,000 $ 1,000
Marketing Agency $ - $ - $ -
Tools, Technology and Platform Costs $ 2,500 $ 2,500 $ 2,500
Travelling $ 800 $ 800 $ 800
Miscellanous $ 1,000 $ 1,000 $ 1,000
Marketing Budget for the company $ - $ - $ -
Total $ 5,300 $ 5,300 $ 5,300
 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,050

$ - $ - $ - $ - $ - $ - $ 14,850
$ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,750
$ 800 $ 800 $ 800 $ 800 $ 800 $ 800 $ 880
$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,050
$ - $ - $ - $ - $ - $ - $ 65,000
$ 5,300 $ 5,300 $ 5,300 $ 5,300 $ 5,300 $ 5,300 $ 85,580
 Month 11 Month 12 Month 13 Month 14 Month 15 Month 16
Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23

$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050

$ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850
$ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750
$ 880 $ 880 $ 880 $ 880 $ 880 $ 880
$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050
$ 66,300 $ 67,626 $ 68,979 $ 70,358 $ 71,765 $ 73,201
$ 86,880 $ 88,206 $ 89,559 $ 90,938 $ 92,345 $ 93,781
 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22
Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24

$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,103

$ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 16,335
$ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 3,025
$ 880 $ 880 $ 880 $ 880 $ 880 $ 968
$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,103
$ 74,665 $ 76,158 $ 77,681 $ 79,235 $ 80,819 $ 82,436
$ 95,245 $ 96,738 $ 98,261 $ 99,815 $ 101,399 $ 104,969
 Month 23 Month 24 Month 25 Month 26 Month 27 Month 28
Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24

$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103

$ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335
$ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025
$ 968 $ 968 $ 968 $ 968 $ 968 $ 968
$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103
$ 84,084 $ 85,766 $ 87,481 $ 89,231 $ 91,016 $ 92,836
$ 106,617 $ 108,299 $ 110,014 $ 111,764 $ 113,549 $ 115,369
 Month 29 Month 30 Month 31 Month 32 Month 33 Month 34
Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25

$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,158

$ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 17,969
$ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,328
$ 968 $ 968 $ 968 $ 968 $ 968 $ 1,065
$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,158
$ 94,693 $ 96,587 $ 98,518 $ 100,489 $ 102,498 $ 104,548
$ 117,226 $ 119,120 $ 121,051 $ 123,022 $ 125,031 $ 129,224
 Month 35 Month 36 Month 37 Month 38 Month 39 Month 40
Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25

$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158

$ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969
$ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328
$ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065
$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158
$ 106,639 $ 108,772 $ 110,948 $ 113,167 $ 115,430 $ 117,739
$ 131,315 $ 133,448 $ 135,624 $ 137,843 $ 140,106 $ 142,415
 Month 41 Month 42 Month 43 Month 44 Month 45 Month 46
Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26

$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,216

$ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 19,765
$ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,660
$ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,171
$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,216
$ 120,093 $ 122,495 $ 124,945 $ 127,444 $ 129,993 $ 131,943
$ 144,769 $ 147,171 $ 149,621 $ 152,120 $ 154,669 $ 158,971
 Month 47 Month 48 Month 49 Month 50 Month 51 Month 52
Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26

$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216

$ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765
$ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660
$ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171
$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216
$ 133,922 $ 135,931 $ 137,970 $ 140,039 $ 142,140 $ 144,272
$ 160,950 $ 162,959 $ 164,998 $ 167,067 $ 169,168 $ 171,300
 Month 53 Month 54 Month 55 Month 56 Month 57 Month 58
Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27

$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,276

$ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 21,742
$ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 4,026
$ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 2,460
$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,276
$ 146,436 $ 148,632 $ 150,862 $ 153,125 $ 155,422 $ 157,753
$ 173,464 $ 175,660 $ 177,890 $ 180,153 $ 182,450 $ 188,534
 Month 59 Month 60
Feb-27 Mar-27

$ 1,276 $ 1,276
$ 21,742 $ 21,742
$ 4,026 $ 4,026
$ 2,460 $ 2,460
$ 1,276 $ 1,276
$ 160,119 $ 162,521
$ 190,900 $ 193,302
Company ABC
Payroll Sheet
Amounts in USD
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6
Assumptions for the Monthly Period Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22

No. of Employees

Management Team
Founder 1 1 1 1 1 1 1
Founder 2 1 1 1 1 1 1
Founder 3 1 1 1 1 1 1
Sales and Marketing
Sales person/Support - - - - - -
Digital Marketers - - - - - 1
Tech team
Software Engineers 10 10 10 10 10 10
Product Manager 1 1 1 1 1 1
UX Designer 1 1 1 1 1 1
G&A
Office Admin Staff - - - - - -

Total Number of Employees 15 15 15 15 15 16

Monthly Compensation
Management Team
Founder 1 $ - $ - $ - $ - $ - $ -
Founder 2 $ - $ - $ - $ - $ - $ -
Founder 3 $ - $ - $ - $ - $ - $ -
Sales and Marketing
Sales person/Support $ - $ - $ - $ - $ - $ -
Digital Marketers $ - $ - $ - $ - $ - $ 2,000
Tech team
Software Engineers $ 30,000 $ 30,000 $ 30,000 $ 30,000 $ 30,000 $ 30,000
Product Manager $ 4,500 $ 4,500 $ 4,500 $ 4,500 $ 4,500 $ 4,500
UX Designer $ 2,000 $ 2,000 $ 2,000 $ 2,000 $ 2,000 $ 2,000
G&A
Office Admin Staff $ - $ - $ - $ - $ - $ -

Total Monthly Compensation $ 36,500 $ 36,500 $ 36,500 $ 36,500 $ 36,500 $ 38,500

 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1

- - - 5 5 5 5 5 5
1 1 1 1 1 1 1 1 1

10 10 10 10 10 10 10 10 10
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1

- - - 5 5 5 5 5 5

16 16 16 26 26 26 26 26 26

$ - $ - $ - $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350

$ - $ - $ - $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350
$ - $ - $ - $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350

$ - $ - $ - $ 8,025 $ 8,025 $ 8,025 $ 8,025 $ 8,025 $ 8,025

$ 2,000 $ 2,000 $ 2,000 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140

$ 30,000 $ 30,000 $ 30,000 $ 32,100 $ 32,100 $ 32,100 $ 32,100 $ 32,100 $ 32,100

$ 4,500 $ 4,500 $ 4,500 $ 4,815 $ 4,815 $ 4,815 $ 4,815 $ 4,815 $ 4,815
$ 2,000 $ 2,000 $ 2,000 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140

$ - $ - $ - $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350

$ 38,500 $ 38,500 $ 38,500 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620

 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22 Month 23 Month 24
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24

1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1

5 5 5 5 5 5 5 5 5
1 1 1 1 1 1 1 1 1

10 10 10 10 10 10 10 10 10
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1

5 5 5 5 5 5 5 5 5

26 26 26 26 26 26 26 26 26

$ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,725 $ 5,725 $ 5,725

$ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,725 $ 5,725 $ 5,725
$ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,725 $ 5,725 $ 5,725

$ 8,025 $ 8,025 $ 8,025 $ 8,025 $ 8,025 $ 8,025 $ 8,587 $ 8,587 $ 8,587

$ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,290 $ 2,290 $ 2,290

$ 32,100 $ 32,100 $ 32,100 $ 32,100 $ 32,100 $ 32,100 $ 34,347 $ 34,347 $ 34,347

$ 4,815 $ 4,815 $ 4,815 $ 4,815 $ 4,815 $ 4,815 $ 5,152 $ 5,152 $ 5,152
$ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,140 $ 2,290 $ 2,290 $ 2,290

$ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,350 $ 5,725 $ 5,725 $ 5,725

$ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 75,563 $ 75,563 $ 75,563

 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30 Month 31 Month 32 Month 33
Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1

8 8 8 8 8 8 8 8 8
2 2 2 2 2 2 2 2 2

14 14 14 14 14 14 14 14 14
3 3 3 3 3 3 3 3 3
3 3 3 3 3 3 3 3 3

6 6 6 6 6 6 6 6 6

39 39 39 39 39 39 39 39 39

$ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725

$ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725
$ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725 $ 5,725

$ 13,739 $ 13,739 $ 13,739 $ 13,739 $ 13,739 $ 13,739 $ 13,739 $ 13,739 $ 13,739

$ 4,580 $ 4,580 $ 4,580 $ 4,580 $ 4,580 $ 4,580 $ 4,580 $ 4,580 $ 4,580

$ 48,086 $ 48,086 $ 48,086 $ 48,086 $ 48,086 $ 48,086 $ 48,086 $ 48,086 $ 48,086

$ 15,456 $ 15,456 $ 15,456 $ 15,456 $ 15,456 $ 15,456 $ 15,456 $ 15,456 $ 15,456
$ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869

$ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869 $ 6,869

$ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773

 Month 34 Month 35 Month 36 Month 37 Month 38 Month 39 Month 40 Month 41
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25

1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

8 10 10 10 10 10 10 10
3 3 3 3 3 3 3 3

14 14 14 16 16 16 16 16
3 3 3 4 4 4 4 4
3 3 3 4 4 4 4 4

6 6 6 8 8 8 8 8

40 42 42 48 48 48 48 48

$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125

$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125
$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,125

$ 14,701 $ 18,376 $ 18,376 $ 18,376 $ 18,376 $ 18,376 $ 18,376 $ 18,376

$ 7,350 $ 7,350 $ 7,350 $ 7,350 $ 7,350 $ 7,350 $ 7,350 $ 7,350

$ 51,452 $ 51,452 $ 51,452 $ 58,802 $ 58,802 $ 58,802 $ 58,802 $ 58,802

$ 16,538 $ 16,538 $ 16,538 $ 22,051 $ 22,051 $ 22,051 $ 22,051 $ 22,051
$ 7,350 $ 7,350 $ 7,350 $ 9,800 $ 9,800 $ 9,800 $ 9,800 $ 9,800

$ 7,350 $ 7,350 $ 7,350 $ 9,800 $ 9,800 $ 9,800 $ 9,800 $ 9,800

$ 123,117 $ 126,792 $ 126,792 $ 144,555 $ 144,555 $ 144,555 $ 144,555 $ 144,555

 Month 42 Month 43 Month 44 Month 45 Month 46 Month 47 Month 48 Month 49
Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26

1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

10 10 10 12 12 12 12 12
3 3 3 3 4 4 4 4

16 16 16 16 16 16 16 16
4 4 4 4 5 5 5 5
4 4 4 4 5 5 5 5

8 8 8 8 8 8 8 9

48 48 48 50 53 53 53 54

$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,554 $ 6,554 $ 6,554 $ 6,554

$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,554 $ 6,554 $ 6,554 $ 6,554
$ 6,125 $ 6,125 $ 6,125 $ 6,125 $ 6,554 $ 6,554 $ 6,554 $ 6,554

$ 18,376 $ 18,376 $ 18,376 $ 22,051 $ 23,594 $ 23,594 $ 23,594 $ 23,594

$ 7,350 $ 7,350 $ 7,350 $ 7,350 $ 10,486 $ 10,486 $ 10,486 $ 10,486

$ 58,802 $ 58,802 $ 58,802 $ 58,802 $ 62,918 $ 62,918 $ 62,918 $ 62,918

$ 22,051 $ 22,051 $ 22,051 $ 22,051 $ 29,493 $ 29,493 $ 29,493 $ 29,493
$ 9,800 $ 9,800 $ 9,800 $ 9,800 $ 13,108 $ 13,108 $ 13,108 $ 13,108

$ 9,800 $ 9,800 $ 9,800 $ 9,800 $ 10,486 $ 10,486 $ 10,486 $ 11,797

$ 144,555 $ 144,555 $ 144,555 $ 148,230 $ 169,748 $ 169,748 $ 169,748 $ 171,059

 Month 50 Month 51 Month 52 Month 53 Month 54 Month 55 Month 56 Month 57
May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26

1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

12 12 12 12 12 14 14 14
4 4 4 4 4 4 4 4

16 20 20 20 20 20 20 20
5 5 5 5 5 5 5 5
5 5 5 5 5 5 5 5

9 9 9 9 9 9 9 9

54 58 58 58 58 60 60 60

$ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554

$ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554
$ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554 $ 6,554

$ 23,594 $ 23,594 $ 23,594 $ 23,594 $ 23,594 $ 27,527 $ 27,527 $ 27,527

$ 10,486 $ 10,486 $ 10,486 $ 10,486 $ 10,486 $ 10,486 $ 10,486 $ 10,486

$ 62,918 $ 78,648 $ 78,648 $ 78,648 $ 78,648 $ 78,648 $ 78,648 $ 78,648

$ 29,493 $ 29,493 $ 29,493 $ 29,493 $ 29,493 $ 29,493 $ 29,493 $ 29,493
$ 13,108 $ 13,108 $ 13,108 $ 13,108 $ 13,108 $ 13,108 $ 13,108 $ 13,108

$ 11,797 $ 11,797 $ 11,797 $ 11,797 $ 11,797 $ 11,797 $ 11,797 $ 11,797

$ 171,059 $ 186,788 $ 186,788 $ 186,788 $ 186,788 $ 190,721 $ 190,721 $ 190,721

 Month 58 Month 59 Month 60
Jan-27 Feb-27 Mar-27

1 1 1
1 1 1
1 1 1

14 14 14
6 6 6

20 20 20
5 5 5
5 5 5

9 9 9

62 62 62

$ 7,013 $ 7,013 $ 7,013

$ 7,013 $ 7,013 $ 7,013
$ 7,013 $ 7,013 $ 7,013

$ 29,454 $ 29,454 $ 29,454

$ 16,831 $ 16,831 $ 16,831

$ 84,153 $ 84,153 $ 84,153

$ 31,557 $ 31,557 $ 31,557
$ 14,026 $ 14,026 $ 14,026

$ 12,623 $ 12,623 $ 12,623

$ 209,681 $ 209,681 $ 209,681

Company ABC
Fixed Assets Schedules Sheet
Amounts in USD
Month 1 Month 2 Month 3
Assumptions for the Monthly Period Apr-22 May-22 Jun-22
Fixed Assets

Incremental increase in the number of employees 15 - -

Initial Employee Equipment Costs

Monthly Depreciation 1%

Opening Balance $ - $ 14,813 $ 14,627

Additions $ 15,000 $ - $ -
Depreciation $ 187 $ 185 $ 183
Closing Balance $ 14,813 $ 14,627 $ 14,445

Furniture and Equipments

Monthly Depreciation 1%

Opening Balance $ - $ 4,938 $ 4,876

Additions $ 5,000 $ - $ -
Depreciation $ 62 $ 62 $ 61
Closing Balance $ 4,938 $ 4,876 $ 4,815

Total Capex $ 20,000 $ - $ -

Total Depreciation $ 250 $ 247 $ 244
Net Book Value $ 19,750 $ 19,503 $ 19,259
 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22

- - 1 - - -

$ 14,445 $ 14,264 $ 14,086 $ 14,897 $ 14,711 $ 14,527

$ - $ - $ 1,000 $ - $ - $ -
$ 181 $ 178 $ 189 $ 186 $ 184 $ 182
$ 14,264 $ 14,086 $ 14,897 $ 14,711 $ 14,527 $ 14,345

$ 4,815 $ 4,755 $ 4,695 $ 4,637 $ 4,579 $ 4,521

$ - $ - $ - $ - $ - $ -
$ 60 $ 59 $ 59 $ 58 $ 57 $ 57
$ 4,755 $ 4,695 $ 4,637 $ 4,579 $ 4,521 $ 4,465

$ - $ - $ 1,000 $ - $ - $ -
$ 241 $ 238 $ 247 $ 244 $ 241 $ 238
$ 19,019 $ 18,781 $ 19,534 $ 19,289 $ 19,048 $ 18,810
 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

10 - - - - -

$ 14,345 $ 24,041 $ 23,741 $ 23,444 $ 23,151 $ 22,861

$ 10,000 $ - $ - $ - $ - $ -
$ 304 $ 301 $ 297 $ 293 $ 289 $ 286
$ 24,041 $ 23,741 $ 23,444 $ 23,151 $ 22,861 $ 22,576

$ 4,465 $ 14,284 $ 14,105 $ 13,929 $ 13,755 $ 13,583

$ 10,000 $ - $ - $ - $ - $ -
$ 181 $ 179 $ 176 $ 174 $ 172 $ 170
$ 14,284 $ 14,105 $ 13,929 $ 13,755 $ 13,583 $ 13,413

$ 20,000 $ - $ - $ - $ - $ -
$ 485 $ 479 $ 473 $ 467 $ 461 $ 456
$ 38,325 $ 37,846 $ 37,373 $ 36,906 $ 36,444 $ 35,989
 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23

- - - - - -

$ 22,576 $ 22,293 $ 22,015 $ 21,740 $ 21,468 $ 21,199

$ - $ - $ - $ - $ - $ -
$ 282 $ 279 $ 275 $ 272 $ 268 $ 265
$ 22,293 $ 22,015 $ 21,740 $ 21,468 $ 21,199 $ 20,934

$ 13,413 $ 13,246 $ 13,080 $ 12,917 $ 12,755 $ 12,596

$ - $ - $ - $ - $ - $ -
$ 168 $ 166 $ 164 $ 161 $ 159 $ 157
$ 13,246 $ 13,080 $ 12,917 $ 12,755 $ 12,596 $ 12,438

$ - $ - $ - $ - $ - $ -
$ 450 $ 444 $ 439 $ 433 $ 428 $ 422
$ 35,539 $ 35,095 $ 34,656 $ 34,223 $ 33,795 $ 33,373
 Month 22 Month 23 Month 24 Month 25 Month 26 Month 27
Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24

- - - 13 - -

$ 20,934 $ 20,673 $ 20,414 $ 20,159 $ 32,745 $ 32,335

$ - $ - $ - $ 13,000 $ - $ -
$ 262 $ 258 $ 255 $ 414 $ 409 $ 404
$ 20,673 $ 20,414 $ 20,159 $ 32,745 $ 32,335 $ 31,931

$ 12,438 $ 27,095 $ 26,757 $ 26,422 $ 26,092 $ 25,766

$ 15,000 $ - $ - $ - $ - $ -
$ 343 $ 339 $ 334 $ 330 $ 326 $ 322
$ 27,095 $ 26,757 $ 26,422 $ 26,092 $ 25,766 $ 25,444

$ 15,000 $ - $ - $ 13,000 $ - $ -
$ 605 $ 597 $ 590 $ 745 $ 735 $ 726
$ 47,768 $ 47,171 $ 46,581 $ 58,837 $ 58,101 $ 57,375
 Month 28 Month 29 Month 30 Month 31 Month 32 Month 33
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

- - - - - -

$ 31,931 $ 31,532 $ 31,138 $ 30,749 $ 30,364 $ 29,985

$ - $ - $ - $ - $ - $ -
$ 399 $ 394 $ 389 $ 384 $ 380 $ 375
$ 31,532 $ 31,138 $ 30,749 $ 30,364 $ 29,985 $ 29,610

$ 25,444 $ 25,126 $ 24,811 $ 24,501 $ 24,195 $ 23,893

$ - $ - $ - $ - $ - $ -
$ 318 $ 314 $ 310 $ 306 $ 302 $ 299
$ 25,126 $ 24,811 $ 24,501 $ 24,195 $ 23,893 $ 23,594

$ - $ - $ - $ - $ - $ -
$ 717 $ 708 $ 699 $ 691 $ 682 $ 673
$ 56,658 $ 55,949 $ 55,250 $ 54,559 $ 53,877 $ 53,204
 Month 34 Month 35 Month 36 Month 37 Month 38 Month 39
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25

1 2 - 6 - -

$ 29,610 $ 30,227 $ 31,825 $ 31,427 $ 36,959 $ 36,497

$ 1,000 $ 2,000 $ - $ 6,000 $ - $ -
$ 383 $ 403 $ 398 $ 468 $ 462 $ 456
$ 30,227 $ 31,825 $ 31,427 $ 36,959 $ 36,497 $ 36,041

$ 23,594 $ 38,112 $ 37,635 $ 37,165 $ 36,700 $ 36,241

$ 15,000 $ - $ - $ - $ - $ -
$ 482 $ 476 $ 470 $ 465 $ 459 $ 453
$ 38,112 $ 37,635 $ 37,165 $ 36,700 $ 36,241 $ 35,788

$ 16,000 $ 2,000 $ - $ 6,000 $ - $ -

$ 865 $ 879 $ 868 $ 932 $ 921 $ 909
$ 68,339 $ 69,460 $ 68,591 $ 73,659 $ 72,738 $ 71,829
 Month 40 Month 41 Month 42 Month 43 Month 44 Month 45
Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25

- - - - - 2

$ 36,041 $ 35,590 $ 35,145 $ 34,706 $ 34,272 $ 33,844

$ - $ - $ - $ - $ - $ 2,000
$ 451 $ 445 $ 439 $ 434 $ 428 $ 448
$ 35,590 $ 35,145 $ 34,706 $ 34,272 $ 33,844 $ 35,396

$ 35,788 $ 35,341 $ 34,899 $ 34,463 $ 34,032 $ 33,607

$ - $ - $ - $ - $ - $ -
$ 447 $ 442 $ 436 $ 431 $ 425 $ 420
$ 35,341 $ 34,899 $ 34,463 $ 34,032 $ 33,607 $ 33,187

$ - $ - $ - $ - $ - $ 2,000
$ 898 $ 887 $ 876 $ 865 $ 854 $ 868
$ 70,931 $ 70,045 $ 69,169 $ 68,304 $ 67,451 $ 68,582
 Month 46 Month 47 Month 48 Month 49 Month 50 Month 51
Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26

3 - - 1 - 4

$ 35,396 $ 37,916 $ 37,442 $ 36,974 $ 37,499 $ 37,030

$ 3,000 $ - $ - $ 1,000 $ - $ 4,000
$ 480 $ 474 $ 468 $ 475 $ 469 $ 513
$ 37,916 $ 37,442 $ 36,974 $ 37,499 $ 37,030 $ 40,517

$ 33,187 $ 47,584 $ 46,990 $ 46,402 $ 45,822 $ 45,249

$ 15,000 $ - $ - $ - $ - $ -
$ 602 $ 595 $ 587 $ 580 $ 573 $ 566
$ 47,584 $ 46,990 $ 46,402 $ 45,822 $ 45,249 $ 44,684

$ 18,000 $ - $ - $ 1,000 $ - $ 4,000

$ 1,082 $ 1,069 $ 1,055 $ 1,055 $ 1,042 $ 1,078
$ 85,500 $ 84,431 $ 83,376 $ 83,321 $ 82,280 $ 85,201
 Month 52 Month 53 Month 54 Month 55 Month 56 Month 57
Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26

- - - 2 - -

$ 40,517 $ 40,011 $ 39,511 $ 39,017 $ 40,504 $ 39,998

$ - $ - $ - $ 2,000 $ - $ -
$ 506 $ 500 $ 494 $ 513 $ 506 $ 500
$ 40,011 $ 39,511 $ 39,017 $ 40,504 $ 39,998 $ 39,498

$ 44,684 $ 44,125 $ 43,574 $ 43,029 $ 42,491 $ 41,960

$ - $ - $ - $ - $ - $ -
$ 559 $ 552 $ 545 $ 538 $ 531 $ 525
$ 44,125 $ 43,574 $ 43,029 $ 42,491 $ 41,960 $ 41,436

$ - $ - $ - $ 2,000 $ - $ -
$ 1,065 $ 1,052 $ 1,039 $ 1,051 $ 1,037 $ 1,024
$ 84,136 $ 83,085 $ 82,046 $ 82,995 $ 81,958 $ 80,934
 Month 58 Month 59 Month 60
Jan-27 Feb-27 Mar-27

2 - -

$ 39,498 $ 40,979 $ 40,467

$ 2,000 $ - $ -
$ 519 $ 512 $ 506
$ 40,979 $ 40,467 $ 39,961

$ 41,436 $ 55,730 $ 55,033

$ 15,000 $ - $ -
$ 705 $ 697 $ 688
$ 55,730 $ 55,033 $ 54,346

$ 17,000 $ - $ -
$ 1,224 $ 1,209 $ 1,194
$ 96,709 $ 95,501 $ 94,307
Company ABC
Monthly Profit & Loss Statement
Amounts in USD
Month 1 Month 2 Month 3 Month 4
2022 2022 2022 2022
Assumptions for the Monthly Period Apr-22 May-22 Jun-22 Jul-22
Revenues
Revenue from Subscriptions $ - $ - $ - $ -
Revenue from Competitions $ - $ - $ - $ -
Revenue from Value Added Services $ - $ - $ - $ -

Total Revenue $ - $ - $ - $ -

Operating Expenses
Office Rent $ 1,000 $ 1,000 $ 1,000 $ 1,000
Marketing Agency $ - $ - $ - $ -
Tools, Technology and Platform Costs $ 2,500 $ 2,500 $ 2,500 $ 2,500
Travelling $ 800 $ 800 $ 800 $ 800
Miscellanous $ 1,000 $ 1,000 $ 1,000 $ 1,000
Marketing Expenses $ - $ - $ - $ -
Total Operating Expenses $ 5,300 $ 5,300 $ 5,300 $ 5,300

Payroll Expenses $ 36,500 $ 36,500 $ 36,500 $ 36,500

Total Operating Expenses including Payroll $ 41,800 $ 41,800 $ 41,800 $ 41,800

EBITDA $ (41,800) $ (41,800) $ (41,800) $ (41,800)

EBITDA Margin (%) NA NA NA NA

Depreciation & Amortization $ 250 $ 247 $ 244 $ 241

Interest $ - $ - $ - $ -
Profit Before Tax (PBT) $ (42,050) $ (42,047) $ (42,044) $ (42,041)
Tax $ - $ - $ - $ -

Profit After Tax (PAT) $ (42,050) $ (42,047) $ (42,044) $ (42,041)

PAT Margin (%) NA NA NA NA
 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10
2022 2022 2022 2022 2022 2023
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23

$ - $ - $ - $ - $ - $ 7,875
$ - $ - $ - $ - $ - $ 780
$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ 8,655

$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,050

$ - $ - $ - $ - $ - $ 14,850
$ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,500 $ 2,750
$ 800 $ 800 $ 800 $ 800 $ 800 $ 880
$ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,050
$ - $ - $ - $ - $ - $ 65,000
$ 5,300 $ 5,300 $ 5,300 $ 5,300 $ 5,300 $ 85,580

$ 36,500 $ 38,500 $ 38,500 $ 38,500 $ 38,500 $ 70,620

$ 41,800 $ 43,800 $ 43,800 $ 43,800 $ 43,800 $ 156,200

$ (41,800) $ (43,800) $ (43,800) $ (43,800) $ (43,800) $ (147,545)

NA NA NA NA NA NA

$ 238 $ 247 $ 244 $ 241 $ 238 $ 485

$ - $ - $ - $ - $ - $ -
$ (42,038) $ (44,047) $ (44,044) $ (44,041) $ (44,038) $ (148,031)
$ - $ - $ - $ - $ - $ -

$ (42,038) $ (44,047) $ (44,044) $ (44,041) $ (44,038) $ (148,031)

NA NA NA NA NA NA
 Month 11 Month 12 Month 13 Month 14 Month 15 Month 16
2023 2023 2023 2023 2023 2023
Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23

$ 15,225 $ 23,100 $ 30,450 $ 37,275 $ 44,100 $ 50,925

$ 1,507 $ 2,287 $ 3,015 $ 3,690 $ 4,366 $ 5,042
$ - $ - $ - $ - $ - $ -

$ 16,732 $ 25,387 $ 33,465 $ 40,965 $ 48,466 $ 55,967

$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050

$ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850
$ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750
$ 880 $ 880 $ 880 $ 880 $ 880 $ 880
$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050
$ 66,300 $ 67,626 $ 68,979 $ 70,358 $ 71,765 $ 73,201
$ 86,880 $ 88,206 $ 89,559 $ 90,938 $ 92,345 $ 93,781

$ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620

$ 157,500 $ 158,826 $ 160,179 $ 161,558 $ 162,965 $ 164,401

$ (140,768) $ (133,439) $ (126,714) $ (120,593) $ (114,499) $ (108,434)

NA NA NA NA NA NA

$ 479 $ 473 $ 467 $ 461 $ 456 $ 450

$ - $ - $ - $ - $ - $ -
$ (141,247) $ (133,912) $ (127,181) $ (121,054) $ (114,955) $ (108,884)
$ - $ - $ - $ - $ - $ -

$ (141,247) $ (133,912) $ (127,181) $ (121,054) $ (114,955) $ (108,884)

NA NA NA NA NA NA
 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22
2023 2023 2023 2023 2023 2024
Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24

$ 57,225 $ 64,050 $ 70,350 $ 76,125 $ 82,425 $ 254,585

$ 5,665 $ 6,341 $ 6,965 $ 7,536 $ 8,160 $ 9,347
$ - $ - $ - $ - $ - $ 37,766

$ 62,890 $ 70,391 $ 77,315 $ 83,661 $ 90,585 $ 301,699

$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,103

$ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 14,850 $ 16,335
$ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 2,750 $ 3,025
$ 880 $ 880 $ 880 $ 880 $ 880 $ 968
$ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,050 $ 1,103
$ 74,665 $ 76,158 $ 77,681 $ 79,235 $ 80,819 $ 82,436
$ 95,245 $ 96,738 $ 98,261 $ 99,815 $ 101,399 $ 104,969

$ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 70,620 $ 75,563

$ 165,865 $ 167,358 $ 168,881 $ 170,435 $ 172,019 $ 180,532

$ (102,974) $ (96,967) $ (91,566) $ (86,773) $ (81,434) $ 121,167

NA NA NA NA NA 40%

$ 444 $ 439 $ 433 $ 428 $ 422 $ 605

$ - $ - $ - $ - $ - $ -
$ (103,419) $ (97,406) $ (92,000) $ (87,201) $ (81,857) $ 120,562
$ - $ - $ - $ - $ - $ 25,318

$ (103,419) $ (97,406) $ (92,000) $ (87,201) $ (81,857) $ 95,244

NA NA NA NA NA 32%
 Month 23 Month 24 Month 25 Month 26 Month 27 Month 28
2024 2024 2024 2024 2024 2024
Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24

$ 271,263 $ 287,927 $ 303,148 $ 319,788 $ 334,986 $ 350,176

$ 9,959 $ 10,571 $ 11,128 $ 11,740 $ 12,296 $ 12,852
$ 40,239 $ 42,712 $ 44,960 $ 47,433 $ 49,681 $ 51,929

$ 321,461 $ 341,211 $ 359,236 $ 378,960 $ 396,962 $ 414,957

$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103

$ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335
$ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025
$ 968 $ 968 $ 968 $ 968 $ 968 $ 968
$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103
$ 84,084 $ 85,766 $ 87,481 $ 89,231 $ 91,016 $ 92,836
$ 106,617 $ 108,299 $ 110,014 $ 111,764 $ 113,549 $ 115,369

$ 75,563 $ 75,563 $ 112,773 $ 112,773 $ 112,773 $ 112,773

$ 182,181 $ 183,863 $ 222,787 $ 224,537 $ 226,321 $ 228,142

$ 139,280 $ 157,348 $ 136,449 $ 154,423 $ 170,641 $ 186,815

43% 46% 38% 41% 43% 45%

$ 597 $ 590 $ 745 $ 735 $ 726 $ 717

$ - $ - $ - $ - $ - $ -
$ 138,683 $ 156,758 $ 135,704 $ 153,688 $ 169,915 $ 186,098
$ 29,123 $ 32,919 $ 28,498 $ 32,274 $ 35,682 $ 39,081

$ 109,560 $ 123,839 $ 107,206 $ 121,413 $ 134,233 $ 147,018

34% 36% 30% 32% 34% 35%
 Month 29 Month 30 Month 31 Month 32 Month 33 Month 34
2024 2024 2024 2024 2024 2025
Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25

$ 365,359 $ 380,534 $ 395,704 $ 410,869 $ 426,031 $ 994,327

$ 13,409 $ 13,965 $ 14,522 $ 15,078 $ 15,634 $ 17,804
$ 54,177 $ 56,425 $ 58,673 $ 60,921 $ 63,169 $ 89,919

$ 432,944 $ 450,924 $ 468,898 $ 486,867 $ 504,834 $ 1,102,050

$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,158

$ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 16,335 $ 17,969
$ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,025 $ 3,328
$ 968 $ 968 $ 968 $ 968 $ 968 $ 1,065
$ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,103 $ 1,158
$ 94,693 $ 96,587 $ 98,518 $ 100,489 $ 102,498 $ 104,548
$ 117,226 $ 119,120 $ 121,051 $ 123,022 $ 125,031 $ 129,224

$ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 112,773 $ 123,117

$ 229,998 $ 231,892 $ 233,824 $ 235,794 $ 237,804 $ 252,341

$ 202,946 $ 219,032 $ 235,074 $ 251,073 $ 267,030 $ 849,709

47% 49% 50% 52% 53% 77%

$ 708 $ 699 $ 691 $ 682 $ 673 $ 865

$ - $ - $ - $ - $ - $ -
$ 202,238 $ 218,332 $ 234,384 $ 250,391 $ 266,357 $ 848,844
$ 42,470 $ 45,850 $ 49,221 $ 52,582 $ 55,935 $ 178,257

$ 159,768 $ 172,482 $ 185,163 $ 197,809 $ 210,422 $ 670,587

37% 38% 39% 41% 42% 61%
 Month 35 Month 36 Month 37 Month 38 Month 39 Month 40
2025 2025 2025 2025 2025 2025
Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25

$ 1,028,489 $ 1,062,655 $ 1,096,816 $ 1,130,983 $ 1,165,155 $ 1,199,332

$ 18,416 $ 19,028 $ 19,639 $ 20,251 $ 20,863 $ 21,475
$ 93,009 $ 96,099 $ 99,189 $ 102,279 $ 105,369 $ 108,459

$ 1,139,913 $ 1,177,782 $ 1,215,645 $ 1,253,513 $ 1,291,387 $ 1,329,266

$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158

$ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969
$ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328
$ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065
$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158
$ 106,639 $ 108,772 $ 110,948 $ 113,167 $ 115,430 $ 117,739
$ 131,315 $ 133,448 $ 135,624 $ 137,843 $ 140,106 $ 142,415

$ 126,792 $ 126,792 $ 144,555 $ 144,555 $ 144,555 $ 144,555

$ 258,107 $ 260,240 $ 280,179 $ 282,398 $ 284,661 $ 286,970

$ 881,806 $ 917,542 $ 935,466 $ 971,115 $ 1,006,726 $ 1,042,296

77% 78% 77% 77% 78% 78%

$ 879 $ 868 $ 932 $ 921 $ 909 $ 898

$ - $ - $ - $ - $ - $ -
$ 880,927 $ 916,673 $ 934,534 $ 970,195 $ 1,005,816 $ 1,041,398
$ 184,995 $ 192,501 $ 196,252 $ 203,741 $ 211,221 $ 218,694

$ 695,932 $ 724,172 $ 738,282 $ 766,454 $ 794,595 $ 822,704

61% 61% 61% 61% 62% 62%
 Month 41 Month 42 Month 43 Month 44 Month 45 Month 46
2025 2025 2025 2025 2025 2026
Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26

$ 1,233,514 $ 1,267,701 $ 1,301,899 $ 1,336,108 $ 1,370,332 $ 2,376,521

$ 22,087 $ 22,699 $ 23,310 $ 23,922 $ 24,534 $ 27,669
$ 111,549 $ 114,639 $ 117,729 $ 120,819 $ 123,909 $ 209,610

$ 1,367,150 $ 1,405,039 $ 1,442,939 $ 1,480,849 $ 1,518,775 $ 2,613,799

$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,216

$ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 17,969 $ 19,765
$ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,328 $ 3,660
$ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,065 $ 1,171
$ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,158 $ 1,216
$ 120,093 $ 122,495 $ 124,945 $ 127,444 $ 129,993 $ 131,943
$ 144,769 $ 147,171 $ 149,621 $ 152,120 $ 154,669 $ 158,971

$ 144,555 $ 144,555 $ 144,555 $ 144,555 $ 148,230 $ 169,748

$ 289,324 $ 291,726 $ 294,176 $ 296,675 $ 302,899 $ 328,719

$ 1,077,825 $ 1,113,313 $ 1,148,763 $ 1,184,174 $ 1,215,876 $ 2,285,081

79% 79% 80% 80% 80% 87%

$ 887 $ 876 $ 865 $ 854 $ 868 $ 1,082

$ - $ - $ - $ - $ - $ -
$ 1,076,939 $ 1,112,437 $ 1,147,898 $ 1,183,320 $ 1,215,008 $ 2,283,998
$ 226,157 $ 233,612 $ 241,059 $ 248,497 $ 255,152 $ 479,640

$ 850,782 $ 878,825 $ 906,839 $ 934,823 $ 959,856 $ 1,804,359

62% 63% 63% 63% 63% 69%
 Month 47 Month 48 Month 49 Month 50 Month 51 Month 52
2026 2026 2026 2026 2026 2026
Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26

$ 2,434,389 $ 2,492,249 $ 2,550,093 $ 2,607,929 $ 2,665,757 $ 2,723,585

$ 28,342 $ 29,015 $ 29,688 $ 30,361 $ 31,035 $ 31,708
$ 214,710 $ 219,810 $ 224,910 $ 230,010 $ 235,110 $ 240,210

$ 2,677,441 $ 2,741,074 $ 2,804,691 $ 2,868,300 $ 2,931,901 $ 2,995,502

$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216

$ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765
$ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660
$ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171
$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216
$ 133,922 $ 135,931 $ 137,970 $ 140,039 $ 142,140 $ 144,272
$ 160,950 $ 162,959 $ 164,998 $ 167,067 $ 169,168 $ 171,300

$ 169,748 $ 169,748 $ 171,059 $ 171,059 $ 186,788 $ 186,788

$ 330,698 $ 332,707 $ 336,056 $ 338,126 $ 355,956 $ 358,088

$ 2,346,743 $ 2,408,368 $ 2,468,635 $ 2,530,174 $ 2,575,945 $ 2,637,414

88% 88% 88% 88% 88% 88%

$ 1,069 $ 1,055 $ 1,055 $ 1,042 $ 1,078 $ 1,065

$ - $ - $ - $ - $ - $ -
$ 2,345,674 $ 2,407,312 $ 2,467,580 $ 2,529,133 $ 2,574,867 $ 2,636,349
$ 492,592 $ 505,536 $ 518,192 $ 531,118 $ 540,722 $ 553,633

$ 1,853,083 $ 1,901,777 $ 1,949,388 $ 1,998,015 $ 2,034,145 $ 2,082,716

69% 69% 70% 70% 69% 70%
 Month 53 Month 54 Month 55 Month 56 Month 57 Month 58
2026 2026 2026 2026 2026 2027
Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27

$ 2,781,404 $ 2,839,232 $ 2,897,060 $ 2,954,896 $ 3,012,739 $ 4,618,782

$ 32,381 $ 33,054 $ 33,727 $ 34,401 $ 35,074 $ 39,322
$ 245,310 $ 250,410 $ 255,510 $ 260,610 $ 265,710 $ 297,891

$ 3,059,095 $ 3,122,696 $ 3,186,297 $ 3,249,906 $ 3,313,523 $ 4,955,994

$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,276

$ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 19,765 $ 21,742
$ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 3,660 $ 4,026
$ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 1,171 $ 2,460
$ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,216 $ 1,276
$ 146,436 $ 148,632 $ 150,862 $ 153,125 $ 155,422 $ 157,753
$ 173,464 $ 175,660 $ 177,890 $ 180,153 $ 182,450 $ 188,534

$ 186,788 $ 186,788 $ 190,721 $ 190,721 $ 190,721 $ 209,681

$ 360,252 $ 362,449 $ 368,611 $ 370,874 $ 373,170 $ 398,215

$ 2,698,843 $ 2,760,247 $ 2,817,686 $ 2,879,032 $ 2,940,353 $ 4,557,779

88% 88% 88% 89% 89% 92%

$ 1,052 $ 1,039 $ 1,051 $ 1,037 $ 1,024 $ 1,224

$ - $ - $ - $ - $ - $ -
$ 2,697,791 $ 2,759,209 $ 2,816,636 $ 2,877,995 $ 2,939,328 $ 4,556,555
$ 566,536 $ 579,434 $ 591,494 $ 604,379 $ 617,259 $ 956,877

$ 2,131,255 $ 2,179,775 $ 2,225,142 $ 2,273,616 $ 2,322,069 $ 3,599,679

70% 70% 70% 70% 70% 73%
 Month 59 Month 60
2027 2027
Feb-27 Mar-27

$ 4,705,811 $ 4,801,175
$ 40,062 $ 40,877
$ 303,501 $ 309,672

$ 5,049,374 $ 5,151,724

$ 1,276 $ 1,276
$ 21,742 $ 21,742
$ 4,026 $ 4,026
$ 2,460 $ 2,460
$ 1,276 $ 1,276
$ 160,119 $ 162,521
$ 190,900 $ 193,302

$ 209,681 $ 209,681

$ 400,581 $ 402,983

$ 4,648,792 $ 4,748,741
92% 92%

$ 1,209 $ 1,194
$ - $ -
$ 4,647,584 $ 4,747,547
$ 975,993 $ 996,985

$ 3,671,591 $ 3,750,562
73% 73%
Company ABC
Annual Profit & Loss Statement
Amounts in USD
Year 1 Year 2 Year 3
Assumptions for the Annual Period 2022 2023 2024
Revenues
Revenue from Subscriptions $ - $ 559,125 $ 4,100,369
Revenue from Competitions $ - $ 55,353 $ 150,501
Revenue from Value Added Services $ - $ - $ 608,084

Total Revenue $ - $ 614,478 $ 4,858,954

Y.O.Y Growth (%) NA 691%

Operating Expenses
Office Rent $ 9,000 $ 12,600 $ 13,230
Marketing Agency $ - $ 178,200 $ 196,020
Tools, Technology and Platform Costs $ 22,500 $ 33,000 $ 36,300
Travelling $ 7,200 $ 10,560 $ 11,616
Miscellanous $ 9,000 $ 12,600 $ 13,230
Marketing Expenses $ - $ 871,786 $ 1,105,635
Total Operating Expenses $ 47,700 $ 1,118,746 $ 1,376,031

Payroll Expenses $ 336,500 $ 847,440 $ 1,241,644

Total Operating Expenses $ 384,200 $ 1,966,186 $ 2,617,675

EBITDA $ (384,200) $ (1,351,707) $ 2,241,279

EBITDA Margin (%) NA -220% 46%

Depreciation & Amortization $ 2,190 $ 5,792 $ 8,990

Interest $ - $ - $ -

Profit Before Tax (PBT) $ (386,390) $ (1,357,499) $ 2,232,289

Tax $ - $ - $ 468,953

Profit After Tax (PAT) $ (386,390) $ (1,357,499) $ 1,763,336

PAT Margin (%) NA -221% 36%
 Year 4 Year 5
2025 2026

$ 14,187,312 $ 32,335,854
$ 254,028 $ 376,453
$ 1,282,968 $ 2,851,920

$ 15,724,307 $ 35,564,227
224% 126%

$ 13,892 $ 14,586
$ 215,622 $ 237,184
$ 39,930 $ 43,923
$ 12,778 $ 14,055
$ 13,892 $ 14,586
$ 1,402,213 $ 1,720,693
$ 1,698,325 $ 2,045,028

$ 1,681,372 $ 2,170,678

$ 3,379,697 $ 4,215,706

$ 12,344,610 $ 31,348,521
79% 88%

$ 11,215 $ 13,069
$ - $ -

$ 12,333,395 $ 31,335,452
$ 2,590,138 $ 6,580,533

$ 9,743,257 $ 24,754,919
62% 70%
Company ABC
Monthly Cash Flow Statement
Amounts in USD
Month 1 Month 2 Month 3 Month 4
2022 2022 2022 2022
Assumptions for the Monthly Period Apr-22 May-22 Jun-22 Jul-22

Cash flow from Operating Activities

Profit before Tax $ (42,050) $ (42,047) $ (42,044) $ (42,041)
Adjustments for:
Add: Depreciation & Amortization $ 250 $ 247 $ 244 $ 241

Sub: Taxes paid $ - $ - $ - $ -

Net Cash generated from Operating Activities $ (41,800) $ (41,800) $ (41,800) $ (41,800)

Cash flow from Investing Activities

Purchase of Fixed Assets $ (20,000) $ - $ - $ -

Net Cash used in Investing Activities $ (20,000) $ - $ - $ -

Cash flow from Financing Activities

Issuance of Equity Share Capital $ - $ - $ - $ -

Net Cash generated from Financing Activities $ - $ - $ - $ -

Net change in Cash & Cash Equivalents $ (61,800) $ (41,800) $ (41,800) $ (41,800)

Opening Cash & Cash Equivalents $ - $ (61,800) $ (103,600) $ (145,400)

Closing Cash & Cash Equivalents $ (61,800) $ (103,600) $ (145,400) $ (187,200)

 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11
2022 2022 2022 2022 2022 2022 2022
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23

$ (42,038) $ (44,047) $ (44,044) $ (44,041) $ (44,038) $ (148,031) $ (141,247)

$ 238 $ 247 $ 244 $ 241 $ 238 $ 485 $ 479

$ - $ - $ - $ - $ - $ - $ -

$ (41,800) $ (43,800) $ (43,800) $ (43,800) $ (43,800) $ (147,545) $ (140,768)

$ - $ (1,000) $ - $ - $ - $ (20,000) $ -

$ - $ (1,000) $ - $ - $ - $ (20,000) $ -

$ - $ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ - $ -

$ (41,800) $ (44,800) $ (43,800) $ (43,800) $ (43,800) $ (167,545) $ (140,768)

$ (187,200) $ (229,000) $ (273,800) $ (317,600) $ (361,400) $ (405,200) $ (572,745)

$ (229,000) $ (273,800) $ (317,600) $ (361,400) $ (405,200) $ (572,745) $ (713,513)

 Month 12 Month 13 Month 14 Month 15 Month 16 Month 17 Month 18
2022 2023 2023 2023 2023 2023 2023
Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23

$ (133,912) $ (127,181) $ (121,054) $ (114,955) $ (108,884) $ (103,419) $ (97,406)

$ 473 $ 467 $ 461 $ 456 $ 450 $ 444 $ 439

$ - $ - $ - $ - $ - $ - $ -

$ (133,439) $ (126,714) $ (120,593) $ (114,499) $ (108,434) $ (102,974) $ (96,967)

$ - $ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ - $ -

$ (133,439) $ (126,714) $ (120,593) $ (114,499) $ (108,434) $ (102,974) $ (96,967)

$ (713,513) $ (846,952) $ (973,666) $ (1,094,259) $ (1,208,758) $ (1,317,192) $ (1,420,167)

$ (846,952) $ (973,666) $ (1,094,259) $ (1,208,758) $ (1,317,192) $ (1,420,167) $ (1,517,134)

 Month 19 Month 20 Month 21 Month 22 Month 23 Month 24
2023 2023 2023 2023 2023 2023
Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24

$ (92,000) $ (87,201) $ (81,857) $ 120,562 $ 138,683 $ 156,758

$ 433 $ 428 $ 422 $ 605 $ 597 $ 590

$ - $ - $ - $ 25,318 $ 29,123 $ 32,919

$ (91,566) $ (86,773) $ (81,434) $ 95,849 $ 110,157 $ 124,429

$ - $ - $ - $ (15,000) $ - $ -

$ - $ - $ - $ (15,000) $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ (91,566) $ (86,773) $ (81,434) $ 80,849 $ 110,157 $ 124,429

$ (1,517,134) $ (1,608,700) $ (1,695,473) $ (1,776,907) $ (1,696,059) $ (1,585,902)

$ (1,608,700) $ (1,695,473) $ (1,776,907) $ (1,696,059) $ (1,585,902) $ (1,461,473)

 Month 25 Month 26 Month 27 Month 28 Month 29 Month 30
2024 2024 2024 2024 2024 2024
Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24

$ 135,704 $ 153,688 $ 169,915 $ 186,098 $ 202,238 $ 218,332

$ 745 $ 735 $ 726 $ 717 $ 708 $ 699

$ 28,498 $ 32,274 $ 35,682 $ 39,081 $ 42,470 $ 45,850

$ 107,951 $ 122,149 $ 134,959 $ 147,735 $ 160,476 $ 173,182

$ (13,000) $ - $ - $ - $ - $ -

$ (13,000) $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 94,951 $ 122,149 $ 134,959 $ 147,735 $ 160,476 $ 173,182

$ (1,461,473) $ (1,366,522) $ (1,244,373) $ (1,109,414) $ (961,679) $ (801,203)

$ (1,366,522) $ (1,244,373) $ (1,109,414) $ (961,679) $ (801,203) $ (628,022)

 Month 31 Month 32 Month 33 Month 34 Month 35 Month 36
2024 2024 2024 2024 2024 2024
Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25

$ 234,384 $ 250,391 $ 266,357 $ 848,844 $ 880,927 $ 916,673

$ 691 $ 682 $ 673 $ 865 $ 879 $ 868

$ 49,221 $ 52,582 $ 55,935 $ 178,257 $ 184,995 $ 192,501

$ 185,854 $ 198,491 $ 211,095 $ 671,452 $ 696,811 $ 725,040

$ - $ - $ - $ (16,000) $ (2,000) $ -

$ - $ - $ - $ (16,000) $ (2,000) $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 185,854 $ 198,491 $ 211,095 $ 655,452 $ 694,811 $ 725,040

$ (628,022) $ (442,168) $ (243,677) $ (32,582) $ 622,870 $ 1,317,681

$ (442,168) $ (243,677) $ (32,582) $ 622,870 $ 1,317,681 $ 2,042,722

 Month 37 Month 38 Month 39 Month 40 Month 41 Month 42
2025 2025 2025 2025 2025 2025
Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25

$ 934,534 $ 970,195 $ 1,005,816 $ 1,041,398 $ 1,076,939 $ 1,112,437

$ 932 $ 921 $ 909 $ 898 $ 887 $ 876

$ 196,252 $ 203,741 $ 211,221 $ 218,694 $ 226,157 $ 233,612

$ 739,214 $ 767,375 $ 795,504 $ 823,602 $ 851,668 $ 879,701

$ (6,000) $ - $ - $ - $ - $ -

$ (6,000) $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 733,214 $ 767,375 $ 795,504 $ 823,602 $ 851,668 $ 879,701

$ 2,042,722 $ 2,775,936 $ 3,543,310 $ 4,338,814 $ 5,162,417 $ 6,014,085

$ 2,775,936 $ 3,543,310 $ 4,338,814 $ 5,162,417 $ 6,014,085 $ 6,893,786

 Month 43 Month 44 Month 45 Month 46 Month 47 Month 48
2025 2025 2025 2025 2025 2025
Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26

$ 1,147,898 $ 1,183,320 $ 1,215,008 $ 2,283,998 $ 2,345,674 $ 2,407,312

$ 865 $ 854 $ 868 $ 1,082 $ 1,069 $ 1,055

$ 241,059 $ 248,497 $ 255,152 $ 479,640 $ 492,592 $ 505,536

$ 907,704 $ 935,677 $ 960,724 $ 1,805,441 $ 1,854,151 $ 1,902,832

$ - $ - $ (2,000) $ (18,000) $ - $ -

$ - $ - $ (2,000) $ (18,000) $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 907,704 $ 935,677 $ 958,724 $ 1,787,441 $ 1,854,151 $ 1,902,832

$ 6,893,786 $ 7,801,490 $ 8,737,167 $ 9,695,891 $ 11,483,332 $ 13,337,483

$ 7,801,490 $ 8,737,167 $ 9,695,891 $ 11,483,332 $ 13,337,483 $ 15,240,315

 Month 49 Month 50 Month 51 Month 52 Month 53 Month 54
2026 2026 2026 2026 2026 2026
Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26

$ 2,467,580 $ 2,529,133 $ 2,574,867 $ 2,636,349 $ 2,697,791 $ 2,759,209

$ 1,055 $ 1,042 $ 1,078 $ 1,065 $ 1,052 $ 1,039

$ 518,192 $ 531,118 $ 540,722 $ 553,633 $ 566,536 $ 579,434

$ 1,950,443 $ 1,999,057 $ 2,035,223 $ 2,083,781 $ 2,132,307 $ 2,180,813

$ (1,000) $ - $ (4,000) $ - $ - $ -

$ (1,000) $ - $ (4,000) $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 1,949,443 $ 1,999,057 $ 2,031,223 $ 2,083,781 $ 2,132,307 $ 2,180,813

$ 15,240,315 $ 17,189,758 $ 19,188,815 $ 21,220,038 $ 23,303,819 $ 25,436,126

$ 17,189,758 $ 19,188,815 $ 21,220,038 $ 23,303,819 $ 25,436,126 $ 27,616,939

 Month 55 Month 56 Month 57 Month 58 Month 59 Month 60
2026 2026 2026 2026 2026 2026
Oct-26 Nov-26 Dec-26 Jan-27 Feb-27 Mar-27

$ 2,816,636 $ 2,877,995 $ 2,939,328 $ 4,556,555 $ 4,647,584 $ 4,747,547

$ 1,051 $ 1,037 $ 1,024 $ 1,224 $ 1,209 $ 1,194

$ 591,494 $ 604,379 $ 617,259 $ 956,877 $ 975,993 $ 996,985

$ 2,226,193 $ 2,274,653 $ 2,323,094 $ 3,600,903 $ 3,672,800 $ 3,751,756

$ (2,000) $ - $ - $ (17,000) $ - $ -

$ (2,000) $ - $ - $ (17,000) $ - $ -

$ - $ - $ - $ - $ - $ -

$ - $ - $ - $ - $ - $ -

$ 2,224,193 $ 2,274,653 $ 2,323,094 $ 3,583,903 $ 3,672,800 $ 3,751,756

$ 27,616,939 $ 29,841,132 $ 32,115,785 $ 34,438,879 $ 38,022,782 $ 41,695,582

$ 29,841,132 $ 32,115,785 $ 34,438,879 $ 38,022,782 $ 41,695,582 $ 45,447,338

Company ABC
Annual Cash Flow Statement
Amounts in USD
Year 1 Year 2 Year 3
Assumptions for the Annual Period 2022 2023 2024

Cash flow from Operating Activities

Profit before Tax $ (809,579) $ (517,952) $ 4,463,550
Adjustments for:
Add: Depreciation & Amortization $ 3,627 $ 5,792 $ 8,990

Sub: Taxes paid $ - $ 87,361 $ 937,346

Net Cash generated from Operating Activities $ (805,952) $ (599,521) $ 3,535,194

Cash flow from Investing Activities

Purchase of Fixed Assets $ (41,000) $ (15,000) $ (31,000)

Net Cash used in Investing Activities $ (41,000) $ (15,000) $ (31,000)

Cash flow from Financing Activities

Issuance of Equity Share Capital $ - $ - $ -

Net Cash generated from Financing Activities $ - $ - $ -

Net change in Cash & Cash Equivalents $ (846,952) $ (614,521) $ 3,504,194

Opening Cash & Cash Equivalents $ (3,371,258) $ (4,218,211) $ (4,832,731)

Closing Cash & Cash Equivalents $ (4,218,211) $ (4,832,731) $ (1,328,537)

 Year 4 Year 5
2025 2026

$ 16,724,530 $ 38,250,574

$ 11,215 $ 13,069

$ 3,512,151 $ 8,032,620

$ 13,223,594 $ 30,231,022

$ (26,000) $ (24,000)

$ (26,000) $ (24,000)

$ - $ -

$ - $ -

$ 13,197,594 $ 30,207,022

$ (1,328,537) $ 11,869,057

$ 11,869,057 $ 42,076,079
Company ABC
Balance Sheet
Amounts in USD
Month 1 Month 2
2022 2022
Assumptions for the Monthly Period Apr-22 May-22
ASSETS
Current Assets $ - $ (61,800) $ (103,600)
Cash and Cash Equivalents $ - $ (61,800) $ (103,600)

Non-Current Assets $ - $ 19,750 $ 19,503

Employee Equipments $ - $ 14,813 $ 14,627
Furniture $ - $ 4,938 $ 4,876

TOTAL ASSETS $ - $ (42,050) $ (84,097)

LIABILITIES $ - $ - $ -

SHAREHOLDER'S EQUITY $ - $ (42,050) $ (84,097)

Share Capital $ - $ - $ -
Retained Earnings $ - $ (42,050) $ (84,097)
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY $ - $ (42,050) $ (84,097)

Check $ - $ - $ -
 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8
2022 2022 2022 2022 2022 2022
Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22

$ (145,400) $ (187,200) $ (229,000) $ (273,800) $ (317,600) $ (361,400)

$ (145,400) $ (187,200) $ (229,000) $ (273,800) $ (317,600) $ (361,400)

$ 19,259 $ 19,019 $ 18,781 $ 19,534 $ 19,289 $ 19,048

$ 14,445 $ 14,264 $ 14,086 $ 14,897 $ 14,711 $ 14,527
$ 4,815 $ 4,755 $ 4,695 $ 4,637 $ 4,579 $ 4,521

$ (126,141) $ (168,181) $ (210,219) $ (254,266) $ (298,311) $ (342,352)

$ - $ - $ - $ - $ - $ -

$ (126,141) $ (168,181) $ (210,219) $ (254,266) $ (298,311) $ (342,352)

$ - $ - $ - $ - $ - $ -
$ (126,141) $ (168,181) $ (210,219) $ (254,266) $ (298,311) $ (342,352)
$ (126,141) $ (168,181) $ (210,219) $ (254,266) $ (298,311) $ (342,352)

$ - $ - $ - $ - $ - $ -
 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14
2022 2023 2023 2023 2023 2023
Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

$ (405,200) $ (572,745) $ (713,513) $ (846,952) $ (973,666) $ (1,094,259)

$ (405,200) $ (572,745) $ (713,513) $ (846,952) $ (973,666) $ (1,094,259)

$ 18,810 $ 38,325 $ 37,846 $ 37,373 $ 36,906 $ 36,444

$ 14,345 $ 24,041 $ 23,741 $ 23,444 $ 23,151 $ 22,861
$ 4,465 $ 14,284 $ 14,105 $ 13,929 $ 13,755 $ 13,583

$ (386,390) $ (534,420) $ (675,667) $ (809,579) $ (936,760) $ (1,057,815)

$ - $ - $ - $ - $ - $ -

$ (386,390) $ (534,420) $ (675,667) $ (809,579) $ (936,760) $ (1,057,815)

$ - $ - $ - $ - $ - $ -
$ (386,390) $ (534,420) $ (675,667) $ (809,579) $ (936,760) $ (1,057,815)
$ (386,390) $ (534,420) $ (675,667) $ (809,579) $ (936,760) $ (1,057,815)

$ - $ - $ - $ - $ - $ -
 Month 15 Month 16 Month 17 Month 18 Month 19 Month 20
2023 2023 2023 2023 2023 2023
Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23

$ (1,208,758) $ (1,317,192) $ (1,420,167) $ (1,517,134) $ (1,608,700) $ (1,695,473)

$ (1,208,758) $ (1,317,192) $ (1,420,167) $ (1,517,134) $ (1,608,700) $ (1,695,473)

$ 35,989 $ 35,539 $ 35,095 $ 34,656 $ 34,223 $ 33,795

$ 22,576 $ 22,293 $ 22,015 $ 21,740 $ 21,468 $ 21,199
$ 13,413 $ 13,246 $ 13,080 $ 12,917 $ 12,755 $ 12,596

$ (1,172,769) $ (1,281,653) $ (1,385,072) $ (1,482,477) $ (1,574,477) $ (1,661,678)

$ - $ - $ - $ - $ - $ -

$ (1,172,769) $ (1,281,653) $ (1,385,072) $ (1,482,477) $ (1,574,477) $ (1,661,678)

$ - $ - $ - $ - $ - $ -
$ (1,172,769) $ (1,281,653) $ (1,385,072) $ (1,482,477) $ (1,574,477) $ (1,661,678)
$ (1,172,769) $ (1,281,653) $ (1,385,072) $ (1,482,477) $ (1,574,477) $ (1,661,678)

$ - $ - $ - $ - $ - $ -
 Month 21 Month 22 Month 23 Month 24 Month 25 Month 26
2023 2024 2024 2024 2024 2024
Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24

$ (1,776,907) $ (1,696,059) $ (1,585,902) $ (1,461,473) $ (1,366,522) $ (1,244,373)

$ (1,776,907) $ (1,696,059) $ (1,585,902) $ (1,461,473) $ (1,366,522) $ (1,244,373)

$ 33,373 $ 47,768 $ 47,171 $ 46,581 $ 58,837 $ 58,101

$ 20,934 $ 20,673 $ 20,414 $ 20,159 $ 32,745 $ 32,335
$ 12,438 $ 27,095 $ 26,757 $ 26,422 $ 26,092 $ 25,766

$ (1,743,535) $ (1,648,291) $ (1,538,731) $ (1,414,892) $ (1,307,685) $ (1,186,272)

$ - $ - $ - $ - $ - $ -

$ (1,743,535) $ (1,648,291) $ (1,538,731) $ (1,414,892) $ (1,307,685) $ (1,186,272)

$ - $ - $ - $ - $ - $ -
$ (1,743,535) $ (1,648,291) $ (1,538,731) $ (1,414,892) $ (1,307,685) $ (1,186,272)
$ (1,743,535) $ (1,648,291) $ (1,538,731) $ (1,414,892) $ (1,307,685) $ (1,186,272)

$ - $ - $ - $ - $ - $ -
 Month 27 Month 28 Month 29 Month 30 Month 31 Month 32
2024 2024 2024 2024 2024 2024
Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24

$ (1,109,414) $ (961,679) $ (801,203) $ (628,022) $ (442,168) $ (243,677)

$ (1,109,414) $ (961,679) $ (801,203) $ (628,022) $ (442,168) $ (243,677)

$ 57,375 $ 56,658 $ 55,949 $ 55,250 $ 54,559 $ 53,877

$ 31,931 $ 31,532 $ 31,138 $ 30,749 $ 30,364 $ 29,985
$ 25,444 $ 25,126 $ 24,811 $ 24,501 $ 24,195 $ 23,893

$ (1,052,039) $ (905,022) $ (745,254) $ (572,772) $ (387,609) $ (189,800)

$ - $ - $ - $ - $ - $ -

$ (1,052,039) $ (905,022) $ (745,254) $ (572,772) $ (387,609) $ (189,800)

$ - $ - $ - $ - $ - $ -
$ (1,052,039) $ (905,022) $ (745,254) $ (572,772) $ (387,609) $ (189,800)
$ (1,052,039) $ (905,022) $ (745,254) $ (572,772) $ (387,609) $ (189,800)

$ - $ - $ - $ - $ - $ -
 Month 33 Month 34 Month 35 Month 36 Month 37 Month 38
2024 2025 2025 2025 2025 2025
Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25

$ (32,582) $ 622,870 $ 1,317,681 $ 2,042,722 $ 2,775,936 $ 3,543,310

$ (32,582) $ 622,870 $ 1,317,681 $ 2,042,722 $ 2,775,936 $ 3,543,310

$ 53,204 $ 68,339 $ 69,460 $ 68,591 $ 73,659 $ 72,738

$ 29,610 $ 30,227 $ 31,825 $ 31,427 $ 36,959 $ 36,497
$ 23,594 $ 38,112 $ 37,635 $ 37,165 $ 36,700 $ 36,241

$ 20,622 $ 691,209 $ 1,387,141 $ 2,111,313 $ 2,849,595 $ 3,616,048

$ - $ - $ - $ - $ - $ -

$ 20,622 $ 691,209 $ 1,387,141 $ 2,111,313 $ 2,849,595 $ 3,616,048

$ - $ - $ - $ - $ - $ -
$ 20,622 $ 691,209 $ 1,387,141 $ 2,111,313 $ 2,849,595 $ 3,616,048
$ 20,622 $ 691,209 $ 1,387,141 $ 2,111,313 $ 2,849,595 $ 3,616,048

$ 0 $ - $ - $ - $ - $ -
 Month 39 Month 40 Month 41 Month 42 Month 43 Month 44
2025 2025 2025 2025 2025 2025
Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25

$ 4,338,814 $ 5,162,417 $ 6,014,085 $ 6,893,786 $ 7,801,490 $ 8,737,167

$ 4,338,814 $ 5,162,417 $ 6,014,085 $ 6,893,786 $ 7,801,490 $ 8,737,167

$ 71,829 $ 70,931 $ 70,045 $ 69,169 $ 68,304 $ 67,451

$ 36,041 $ 35,590 $ 35,145 $ 34,706 $ 34,272 $ 33,844
$ 35,788 $ 35,341 $ 34,899 $ 34,463 $ 34,032 $ 33,607

$ 4,410,643 $ 5,233,348 $ 6,084,129 $ 6,962,955 $ 7,869,794 $ 8,804,617

$ - $ - $ - $ - $ - $ -

$ 4,410,643 $ 5,233,348 $ 6,084,129 $ 6,962,955 $ 7,869,794 $ 8,804,617

$ - $ - $ - $ - $ - $ -
$ 4,410,643 $ 5,233,348 $ 6,084,129 $ 6,962,955 $ 7,869,794 $ 8,804,617
$ 4,410,643 $ 5,233,348 $ 6,084,129 $ 6,962,955 $ 7,869,794 $ 8,804,617

$ - $ - $ - $ - $ - $ -
 Month 45 Month 46 Month 47 Month 48 Month 49 Month 50
2025 2026 2026 2026 2026 2026
Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26

$ 9,695,891 $ 11,483,332 $ 13,337,483 $ 15,240,315 $ 17,189,758 $ 19,188,815

$ 9,695,891 $ 11,483,332 $ 13,337,483 $ 15,240,315 $ 17,189,758 $ 19,188,815

$ 68,582 $ 85,500 $ 84,431 $ 83,376 $ 83,321 $ 82,280

$ 35,396 $ 37,916 $ 37,442 $ 36,974 $ 37,499 $ 37,030
$ 33,187 $ 47,584 $ 46,990 $ 46,402 $ 45,822 $ 45,249

$ 9,764,473 $ 11,568,832 $ 13,421,915 $ 15,323,691 $ 17,273,080 $ 19,271,095

$ - $ - $ - $ - $ - $ -

$ 9,764,473 $ 11,568,832 $ 13,421,915 $ 15,323,691 $ 17,273,080 $ 19,271,095

$ - $ - $ - $ - $ - $ -
$ 9,764,473 $ 11,568,832 $ 13,421,915 $ 15,323,691 $ 17,273,080 $ 19,271,095
$ 9,764,473 $ 11,568,832 $ 13,421,915 $ 15,323,691 $ 17,273,080 $ 19,271,095

$ - $ - $ - $ - $ - $ -
 Month 51 Month 52 Month 53 Month 54 Month 55 Month 56
2026 2026 2026 2026 2026 2026
Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26

$ 21,220,038 $ 23,303,819 $ 25,436,126 $ 27,616,939 $ 29,841,132 $ 32,115,785

$ 21,220,038 $ 23,303,819 $ 25,436,126 $ 27,616,939 $ 29,841,132 $ 32,115,785

$ 85,201 $ 84,136 $ 83,085 $ 82,046 $ 82,995 $ 81,958

$ 40,517 $ 40,011 $ 39,511 $ 39,017 $ 40,504 $ 39,998
$ 44,684 $ 44,125 $ 43,574 $ 43,029 $ 42,491 $ 41,960

$ 21,305,239 $ 23,387,955 $ 25,519,210 $ 27,698,985 $ 29,924,127 $ 32,197,743

$ - $ - $ - $ - $ - $ -

$ 21,305,239 $ 23,387,955 $ 25,519,210 $ 27,698,985 $ 29,924,127 $ 32,197,743

$ - $ - $ - $ - $ - $ -
$ 21,305,239 $ 23,387,955 $ 25,519,210 $ 27,698,985 $ 29,924,127 $ 32,197,743
$ 21,305,239 $ 23,387,955 $ 25,519,210 $ 27,698,985 $ 29,924,127 $ 32,197,743

$ - $ - $ - $ - $ - $ -
 Month 57 Month 58 Month 59 Month 60
2026 2027 2027 2027
Dec-26 Jan-27 Feb-27 Mar-27

$ 34,438,879 $ 38,022,782 $ 41,695,582 $ 45,447,338

$ 34,438,879 $ 38,022,782 $ 41,695,582 $ 45,447,338

$ 80,934 $ 96,709 $ 95,501 $ 94,307

$ 39,498 $ 40,979 $ 40,467 $ 39,961
$ 41,436 $ 55,730 $ 55,033 $ 54,346

$ 34,519,813 $ 38,119,491 $ 41,791,082 $ 45,541,644

$ - $ - $ - $ -

$ 34,519,813 $ 38,119,491 $ 41,791,082 $ 45,541,644

$ - $ - $ - $ -
$ 34,519,813 $ 38,119,491 $ 41,791,082 $ 45,541,644
$ 34,519,813 $ 38,119,491 $ 41,791,082 $ 45,541,644

$ - $ - $ - $ -
Company ABC
Funding Ask
Amounts in USD
Month 1 Month 2 Month 3
Assumptions for the Monthly Period Apr-22 May-22 Jun-22

General and Adminstrative $ 2,800 $ 2,800 $ 2,800

Marketing $ - $ - $ -
Technology $ 39,000 $ 39,000 $ 39,000
Payroll $ - $ - $ -
Total $ 41,800 $ 41,800 $ 41,800

Cash Runway 24 months $ 2,896,961 approx $3.5 million ask

% break-up of funds % split

General and Adminstrative $ 297,684 10%
Marketing $ 1,124,072 39%
Technology $ 987,102 34%
Payroll $ 488,104 17%
Total $ 2,896,961 100%
 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22

$ 2,800 $ 2,800 $ 2,800 $ 2,800 $ 2,800 $ 2,800

$ - $ - $ - $ - $ - $ -
$ 39,000 $ 39,000 $ 39,000 $ 39,000 $ 39,000 $ 39,000
$ - $ - $ 2,000 $ 2,000 $ 2,000 $ 2,000
$ 41,800 $ 41,800 $ 43,800 $ 43,800 $ 43,800 $ 43,800

ox $3.5 million ask

Usage of Funds

General and Adminstra-

Payroll; 17% tive; 10%

Technology; 34% Marketing; 39%

 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

$ 17,830 $ 17,830 $ 17,830 $ 17,830 $ 17,830 $ 17,830

$ 65,000 $ 66,300 $ 67,626 $ 68,979 $ 70,358 $ 71,765
$ 41,805 $ 41,805 $ 41,805 $ 41,805 $ 41,805 $ 41,805
$ 31,565 $ 31,565 $ 31,565 $ 31,565 $ 31,565 $ 31,565
$ 156,200 $ 157,500 $ 158,826 $ 160,179 $ 161,558 $ 162,965
 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23

$ 17,830 $ 17,830 $ 17,830 $ 17,830 $ 17,830 $ 17,830

$ 73,201 $ 74,665 $ 76,158 $ 77,681 $ 79,235 $ 80,819
$ 41,805 $ 41,805 $ 41,805 $ 41,805 $ 41,805 $ 41,805
$ 31,565 $ 31,565 $ 31,565 $ 31,565 $ 31,565 $ 31,565
$ 164,401 $ 165,865 $ 167,358 $ 168,881 $ 170,435 $ 172,019
 Month 22 Month 23 Month 24 Month 25 Month 26 Month 27
Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24

$ 19,508 $ 19,508 $ 19,508 $ 19,508 $ 19,508 $ 19,508

$ 82,436 $ 84,084 $ 85,766 $ 87,481 $ 89,231 $ 91,016
$ 44,814 $ 44,814 $ 44,814 $ 73,436 $ 73,436 $ 73,436
$ 33,775 $ 33,775 $ 33,775 $ 42,361 $ 42,361 $ 42,361
$ 180,532 $ 182,181 $ 183,863 $ 222,787 $ 224,537 $ 226,321
 Month 28 Month 29 Month 30 Month 31 Month 32 Month 33
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

$ 19,508 $ 19,508 $ 19,508 $ 19,508 $ 19,508 $ 19,508

$ 92,836 $ 94,693 $ 96,587 $ 98,518 $ 100,489 $ 102,498
$ 73,436 $ 73,436 $ 73,436 $ 73,436 $ 73,436 $ 73,436
$ 42,361 $ 42,361 $ 42,361 $ 42,361 $ 42,361 $ 42,361
$ 228,142 $ 229,998 $ 231,892 $ 233,824 $ 235,794 $ 237,804
 Month 34 Month 35 Month 36 Month 37 Month 38 Month 39 Month 40
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25

$ 21,349 $ 21,349 $ 21,349 $ 21,349 $ 21,349 $ 21,349 $ 21,349

$ 104,548 $ 106,639 $ 108,772 $ 110,948 $ 113,167 $ 115,430 $ 117,739
$ 78,668 $ 78,668 $ 78,668 $ 93,981 $ 93,981 $ 93,981 $ 93,981
$ 47,777 $ 51,452 $ 51,452 $ 53,902 $ 53,902 $ 53,902 $ 53,902
$ 252,341 $ 258,107 $ 260,240 $ 280,179 $ 282,398 $ 284,661 $ 286,970
Month 41 Month 42 Month 43 Month 44 Month 45 Month 46 Month 47 Month 48
Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26

$ 21,349 $ 21,349 $ 21,349 $ 21,349 $ 21,349 $ 23,368 $ 23,368 $ 23,368

$ 120,093 $ 122,495 $ 124,945 $ 127,444 $ 129,993 $ 131,943 $ 133,922 $ 135,931
$ 93,981 $ 93,981 $ 93,981 $ 93,981 $ 93,981 $ 109,179 $ 109,179 $ 109,179
$ 53,902 $ 53,902 $ 53,902 $ 53,902 $ 57,577 $ 64,229 $ 64,229 $ 64,229
$ 289,324 $ 291,726 $ 294,176 $ 296,675 $ 302,899 $ 328,719 $ 330,698 $ 332,707
Month 49 Month 50 Month 51 Month 52 Month 53 Month 54 Month 55 Month 56
Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26

$ 23,368 $ 23,368 $ 23,368 $ 23,368 $ 23,368 $ 23,368 $ 23,368 $ 23,368

$ 137,970 $ 140,039 $ 142,140 $ 144,272 $ 146,436 $ 148,632 $ 150,862 $ 153,125
$ 109,179 $ 109,179 $ 124,909 $ 124,909 $ 124,909 $ 124,909 $ 124,909 $ 124,909
$ 65,540 $ 65,540 $ 65,540 $ 65,540 $ 65,540 $ 65,540 $ 69,472 $ 69,472
$ 336,056 $ 338,126 $ 355,956 $ 358,088 $ 360,252 $ 362,449 $ 368,611 $ 370,874
Month 57 Month 58 Month 59 Month 60
Dec-26 Jan-27 Feb-27 Mar-27

$ 23,368 $ 26,754 $ 26,754 $ 26,754

$ 155,422 $ 157,753 $ 160,119 $ 162,521
$ 124,909 $ 133,762 $ 133,762 $ 133,762
$ 69,472 $ 79,945 $ 79,945 $ 79,945
$ 373,170 $ 398,215 $ 400,581 $ 402,983
Company ABC
Valuation
Amounts in USD

Method of Valuation Valuation (USD) Equity Offered Valuation Range

Company ABC can be valued between
DCF $ 19,574,260
Multiple Comparable Method $ 12,739,414

Mean Valuation $ 16,156,837 18% Taken with runway of 24 months

Minimum Valuation $ 12,739,414
Maximum Valuation $ 19,574,260

Discounted Cash Flow Method (DCF)

Input
Continuing Growth Rate 3%
Discount Rate 40%

Year 1 Year 2 Year 3

EBIT $ (386,390) $ (1,357,499) $ 2,232,289
Less: Taxes $ - $ - $ 468,953
Add: D&A $ 2,190 $ 5,792 $ 8,990
Less: CAPEX $ (41,000) $ (15,000) $ (31,000)
Less: Changes in NWC $ - $ - $ -
Free Cash Flow (FCF) $ (425,200) $ (1,366,707) $ 1,741,326

Terminal Value $ 68,881,913

Total FCF $ (425,200) $ (1,366,707) $ 1,741,326

NPV $ 19,574,260

Scenario Analysis of NPV $ 19,574,260 10% 15%

1.0%
0.5%
2.0%
Growth Rate

2.5%
3.0%
3.5%
4.0%
4.5%
5.0%

Trading Multiples Comparable Method

Company EV/Revenue Stock Exchange

Coursera 3.29x NYSE Yahoo Finance
Duolingo 8.85x NYSE Yahoo Finance
Udemy 2.29x NYSE Yahoo Finance
Docebo 10.63x NYSE Yahoo Finance
Powerschool 5.67x NYSE Yahoo Finance
Chegg 3.64x NYSE Yahoo Finance

Median Multiple 4.66x

Average revenue for the second and third year $ 2,736,716

Valuation $ 12,739,414
y ABC can be valued between USD 13 Million and USD 20 Million

th runway of 24 months

Year 4 Year 5
$ 12,333,395 $ 31,335,452
$ 2,590,138 $ 6,580,533
$ 11,215 $ 13,069
$ (26,000) $ (24,000)
$ - $ -
$ 9,728,473 $ 24,743,988

$ 9,728,473 $ 93,625,901

Discount Rate
20% 25% 30% 35% 40%