AMERICAN SADDLE TREE
JULY
AUG
SEPT
OCT
NOV
DEC
JAN
FEB
MAR
APRIL
MAY
JUNE
JULY
AUG
SEPT
OCT
NOV
DEC
JAN
PRO FORMA FINANCIALS
2005
2005 2
2005 3
2005 4
2005 5
2005 6
2006 7
2006 8
2006 9
2006 10
2006 11
2006 12
2006 13
2006 14
2006 15
2006 16
2006 17
2006 18
2007 19
1
Units Per Day Units per Month Units Year to Date Units To Date Market Share Total Employees
300,000
SALES INCOME Per Month
0
0
15
20
25
25
50
50
50
76
76
76
99
99
99
123
123
123
147
0
0
300
400
504
504
1,008
1,008
1,008
1,512
1,512
1,512
1,988
1,988
1,988
2,464
2,464
2,464
2,940
0
0
300
700
1,204
1,708
1,008
2,016
3,024
4,536
6,048
7,560
9,548
11,536
13,524
15,988
18,452
20,916
2,940
0
0
300
700
1,204
1,708
2,716
3,724
4,732
6,244
7,756
9,268
11,256
13,244
15,232
17,696
20,160
22,624
25,564
0.00% 7
0.00% 10
0.10% 11
0.23% 12
0.40% 12
0.57% 14
0.34% 17
0.67% 17
1.0% 17
1.5% 30
2.0% 30
2.5% 30
3.2% 33
3.8% 33
4.5% 33
5.3% 36
6.2% 36
7.0% 36
1.0% 42 572,750
0
0
52,500
70,000
88,200
88,200
188,900
188,900
188,900
283,000
283,000
283,000
377,000
377,000
377,000
471,000
471,000
471,000
Income Year to Date
0
0
52,500
122,500
210,700
298,900
188,900
377,800
566,700
849,700
1,132,700
1,415,700
1,792,700
2,169,700
2,546,700
3,017,700
3,488,700
3,959,700
572,750
TOTAL INCOME TO DATE
0
0
52,500
122,500
210,700
298,900
487,800
676,700
865,600
1,148,600
1,431,600
1,714,600
2,091,600
2,468,600
2,845,600
3,316,600
3,787,600
4,258,600
4,831,350
60,169
COST OF GOODS SOLD Labor
0
13,200
13,200
13,200
13,200
13,200
32,384
32,384
32,384
51,568
51,568
51,568
52,876
52,876
52,876
54,185
54,185
54,185
Cost Year to Date
0
13,200
26,400
39,600
52,800
66,000
32,384
64,768
97,152
148,720
200,288
251,856
304,732
357,609
410,485
464,670
518,854
573,039
60,169
Materials
0
0
0
0
21,435
21,435
42,870
42,870
42,870
64,305
64,305
64,305
84,550
84,550
84,550
104,794
104,794
104,794
125,038
Cost Year to Date
0
0
0
0
21,435
42,870
42,870
85,740
128,611
192,916
257,221
321,527
406,076
490,626
575,176
679,970
784,764
889,557
125,038
Royalty Cost Year to Date
250,000 250,000
0 250,000
2,625 252,625
3,500 256,125
5,292 261,417
5,292 266,709
13,223 13,223
13,223 26,446
13,223 39,669
22,640 62,309
22,640 84,949
22,640 107,589
33,930 141,519
33,930 175,449
33,930 209,379
47,100 256,479
47,100 303,579
47,100 350,679
63,003 63,003
Total Per Month
250,000
13,200
15,825
16,700
39,927
39,927
88,477
88,477
88,477
138,513
138,513
138,513
171,356
171,356
171,356
206,079
206,079
206,079
248,209
Cost Year to Date
250,000
263,200
279,025
295,725
335,652
375,579
88,477
176,954
265,432
403,945
542,458
680,972
852,328
1,023,684
1,195,040
1,401,118
1,607,197
1,813,275
248,209
TO DATE
250,000
263,200
279,025
295,725
335,652
375,579
464,056
552,534
641,011
779,524
918,038
1,056,551
1,227,907
1,399,263
1,570,619
1,776,698
1,982,776
2,188,855
2,437,064
Cost Year to Date
-250,000 -250,000
-13,200 -263,200
36,675 -226,525
53,300 -173,225
48,273 -124,952
48,273 -76,679
100,423 -100,423
100,423 0
100,423 100,423
144,487 244,909
144,487 389,396
144,487 533,883
205,644 739,527
205,644 945,171
205,644 1,150,815
264,921 1,415,736
264,921 1,680,658
264,921 1,945,579
324,541 324,541
Percentage
0%
0%
70%
76%
55%
55%
53%
53%
53%
51%
51%
51%
55%
55%
55%
56%
56%
56%
57%
50,600 0 31,200 0 0 0
24,600 0 6,200 3 0 0
44,769 0 9,042 2,003 0 0
95,075 0 6,542 3,003 0 0
45,394 0 4,042 3,003 0 0
55,727 0 4,042 1,003 0 0
157,489 0 4,042 12,503 0 0
57,489 0 4,042 22,503 0 0
63,489 0 4,042 17,503 0 0
65,136 0 4,042 25,003 0 0
65,136 0 4,042 32,503 0 0
65,136 0 4,042 12,503 0 0
66,781 0 8,350 26,000 0 0
66,781 0 5,350 21,000 0 0
66,781 0 5,350 28,000 0 0
68,426 0 6,658 30,500 0 0
68,426 0 6,658 28,000 0 0
68,426 0 6,658 23,500 0 0
75,206 0 7,967 27,333 14,117 0
GROSS PROFIT
OPERATING EXPENSE
Administration Research & Development Manufacturing Marketing Sales Service & Support TOTAL OPERATING EXPENSES
81,800
30,803
55,813
104,620
52,438
60,772
174,034
84,034
85,034
94,181
101,681
81,681
101,131
93,131
100,131
105,584
103,084
98,584
124,623
Cost Year to Date
81,800
112,603
168,416
273,036
325,474
386,246
174,034
258,068
343,101
437,282
538,962
620,643
721,774
814,904
915,035
1,020,619
1,123,704
1,222,288
124,623
OPERATING INCOME
Per Month
-331,800
-44,003
-19,138
-51,320
-4,165
-12,499
-73,611
16,389
15,389
50,306
42,806
62,806
104,513
112,513
105,513
159,337
161,837
166,337
199,918
Cost Year to Date
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-73,611
-57,222
-41,833
8,473
51,279
114,085
218,599
331,112
436,625
595,962
757,800
924,137
199,918
TO DATE
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-536,536
-520,147
-504,758
-454,452
-411,646
-348,840
-244,326
-131,813
-26,300
133,037
294,875
461,212
661,129
Per Month
-331,800
-44,003
-19,138
-51,320
-4,165
-12,499
-73,611
16,389
15,389
50,306
42,806
62,806
104,513
112,513
105,513
159,337
161,837
166,337
199,918
Percentage
0%
0%
0%
-73%
-5%
-14%
-39%
9%
8%
18%
15%
22%
28%
30%
28%
34%
34%
35%
35%
Income Year to Date
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-73,611
-57,222
-41,833
8,473
51,279
114,085
218,599
331,112
436,625
595,962
757,800
924,137
199,918
TO DATE
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-536,536
-520,147
-504,758
-454,452
-411,646
-348,840
-244,326
-131,813
-26,300
133,037
294,875
461,212
661,129
0
0
0
0
0
0
0
0
0
0
0
0
0
31,504
29,544
44,614
45,314
46,574
55,977
0
0
0
0
0
0
0
0
0
0
0
0
0
31,504
61,047
105,662
150,976
197,551
55,977
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
Per Month
-331,800
-44,003
-19,138
-51,320
-4,165
-12,499
-73,611
16,389
15,389
50,306
42,806
62,806
104,513
81,009
75,969
114,723
116,523
119,763
143,941
Percentage
0%
0%
-36%
-73%
-5%
-14%
-39%
9%
8%
18%
15%
22%
28%
21%
20%
24%
25%
25%
25%
Year to Date
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-73,611
-57,222
-41,833
8,473
51,279
114,085
218,599
299,608
375,578
490,300
606,823
726,586
143,941
TO DATE
-331,800
-375,803
-394,941
-446,261
-450,426
-462,925
-536,536
-520,147
-504,758
-454,452
-411,646
-348,840
-244,326
-163,317
-87,347
27,375
143,898
263,661
407,602
-331,800 500,000
-44,003
-19,138
-12,499
15,389
50,306
42,806
62,806
104,513
143,941
0
0
0
-73,611 250,000
16,389
0
-51,320 250,000
-4,165
Capital Investment
0
0
0
0
500,000
500,000
500,000
750,000
750,000
750,000
1,000,000
1,000,000
1,000,000
1,000,000
168,200
124,197
105,059
303,739
299,574
287,075
463,464
479,853
495,242
545,548
NET INCOME (LOSS) BEFORE TAXES
INCOME TAXES Cost Year to Date Percentage
28%
NET PROFIT
CASH BALANCE Total Investment to Date CASH FLOW
`
81,009
75,969
114,723
116,523
119,763
0
0
0
0
0
0
0
0
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
588,354
651,160
755,674
836,683
912,653
1,027,375
1,143,898
1,263,661
1,407,602
CASH POSITIVE