SUMMARY

TERMS Rate Size Mos.

Low 13.5% $10,000 42
Mid 18.5% $10,000 42
MidHigh 23.5% $10,000 42
High 28.5% $10,000 42

ORIGINATIONS Yr. 1 Yr. 2 Yr. 3 Yr. 4 Yr. 5 Yr. 6 Yr. 7 Yr. 8 Yr. 9 Yr. 10
Low 120 47 71 103 107 129 155 180 214 254
Mid 180 74 109 159 159 195 236 274 324 385
MidHigh 300 127 188 266 276 330 399 460 542 644
High 600 259 380 538 555 666 802 924 1,094 1,292
Total Originations 1,200 507 748 1,066 1,097 1,320 1,592 1,838 2,174 2,575

LOANS OUTSTANDING Yr. 1 Yr. 2 Yr. 3 Yr. 4 Yr. 5 Yr. 6 Yr. 7 Yr. 8 Yr. 9 Yr. 10
Low 120 167 238 281 306 378 445 517 617 729
Mid 180 254 363 432 467 572 674 786 937 1,106
MidHigh 300 427 615 731 798 976 1,145 1,329 1,575 1,853
High 600 859 1,239 1,477 1,612 1,968 2,305 2,673 3,170 3,728
Total Outstanding 1,200 1,707 2,455 2,921 3,183 3,894 4,569 5,305 6,299 7,416

`
 RESULTS Year 1 Year 2 Year 3 Year 4 Year 5
Revenue
Loan Sale Premiums $0 $0 $0 $0 $0
Delinquency Fees $6,944 $15,636 $22,317 $30,374 $31,730
Interest Income $1,484,394 $2,910,623 $3,404,176 $3,998,258 $4,681,954
Packaging Fees $840,000 $354,900 $523,600 $746,200 $767,900
Total Total Revenue $2,331,338 $3,281,159 $3,950,092 $4,774,832 $5,481,583
1,380
2,095 Cost of Revenue
3,532 Commissions $0 $0 $0 $0 $0
7,110 Data Pulls $7,500 $3,169 $4,675 $6,663 $6,856
14,117 Closing Procedures $0 $0 $0 $0 $0
Loan Loss Reserve $120,000 $50,700 $74,800 $106,600 $109,700
Total Cost of Revenue $127,500 $53,869 $79,475 $113,263 $116,556

Operating Expense
Salary & Bonus $217,800 $232,562 $241,864 $251,539 $261,601
Overhead $60,112 $60,112 $60,112 $60,112 $60,112
Software Servicing $8,700 $8,700 $8,700 $8,700 $8,700
Total Operating Exp. $286,612 $301,374 $310,676 $320,351 $330,413

EBITDA $1,917,226 $2,925,916 $3,559,941 $4,341,219 $5,034,614

EBITDA % 82.2% 89.2% 90.1% 90.9% 91.8%
Net Income $1,144,428 $1,749,642 $2,130,057 $2,598,824 $3,014,861
Net Income % 49.1% 53.3% 53.9% 54.4% 55.0%
 Year 6 Year 7 Year 8 Year 9 Year 10 TOTAL

$0 $0 $0 $0 $0 $0
$38,146 $45,650 $52,813 $62,377 $73,667 $379,654
$5,493,832 $6,456,622 $7,593,442 $8,935,356 $10,528,157 $55,486,814
$924,000 $1,114,400 $1,286,600 $1,521,800 $1,802,500 $9,881,900
$6,455,979 $7,616,672 $8,932,855 $10,519,533 $12,404,325 $65,748,367

$0 $0 $0 $0 $0 $0
$8,250 $9,950 $11,488 $13,588 $16,094 $88,231
$0 $0 $0 $0 $0 $0
$132,000 $159,200 $183,800 $217,400 $257,500 $1,411,700
$140,250 $169,150 $195,288 $230,988 $273,594 $1,499,931

$272,065 $282,947 $294,265 $306,036 $318,277 $2,678,956

$60,112 $60,112 $60,112 $60,112 $60,112 $601,120
$8,700 $8,700 $8,700 $8,700 $8,700 $87,000
$340,877 $351,759 $363,077 $374,848 $387,089 $3,367,076

$5,974,852 $7,095,763 $8,374,490 $9,913,698 $11,743,642 $60,881,360

92.5% 93.2% 93.7% 94.2% 94.7% 92.6%
$3,579,003 $4,251,550 $5,018,786 $5,942,311 $7,040,277 $36,469,739
55.4% 55.8% 56.2% 56.5% 56.8% 55.5%
ASSUMPTIONS Low Mid MidHigh
Rates
Current Prime Rate 3.50%
Loan Spread - New Loans 10.00% 15.00% 20.00%
Gross Loan Rate - New Loans (Prime + Spread) 13.50% 18.50% 23.50%
Interest rate on Line of Credit 7.00%
Interest rate on Long Term Debt 6.00%
Fees
Closing Procedures - % of Originated Amount (cost to Lender) 0.00% 0.00% 0.00%
3rd Party API cost per Application $5.00
Packaging Fees - % of Originated Amount (paid to Lender) 7.0% 7.0% 7.0%
Volume
Applications per Accepted Loan 1.25 1.25 1.25
Avg. Loan Size $10,000 $10,000 $10,000
Cash-driven new loan split 10% 15% 25%
Originations
Month 1 10 15 25
Month 2 10 15 25
Month 3 10 15 25
Month 4 10 15 25
Repayment
Loan Loss Reserve (as % face value of Originations) 1.00% 1.00% 1.00%
Avg. Monthly Payment $300 $325 $351
Avg. Loan Length (months) 42 42 42
Delinquency Rate (monthly) 5.0% 5.0% 5.0%
Delinquency Penalty (% of monthly pmt) 5.0% 5.0% 5.0%
Selling
% of Loans Sold on Secondary Market 0% 0% 0%
Avg. Months Held Before Sale 1 1 1
Avg. Sale Premium (% of Face Value) 0.00% 0.00% 0.00%
Compensation Segment Rate Segment Rate Segment
Loans through External Bounty 25% 0.0% 25% 0.0% 25%
Loans through In-House Bounty 70% 0.0% 70% 0.0% 70%
Loans through Referral 5% 0.0% 5% 0.0% 5%
Annual Bonus Pool 1.0%
Annual Salary Increase 4.0%
Health Insurance Rate 12.0%
Payroll Tax Rate 8.0%
Additional payroll benefits load 0.0%
ASSUMPTIONS MidHigh High
Rates Input
Current Prime Rate Calculated
Loan Spread - New Loans 25.00%
Gross Loan Rate - New Loans (Prime + Spread) 28.50%
Interest rate on Line of Credit
Interest rate on Long Term Debt
Fees
Closing Procedures - % of Originated Amount (cost to Lender) 0.00%
3rd Party API cost per Application
Packaging Fees - % of Originated Amount (paid to Lender) 7.0%
Volume
Applications per Accepted Loan 1.25
Avg. Loan Size $10,000
Cash-driven new loan split 50% Ʃ = 100%
Originations
Month 1 50
Month 2 50
Month 3 50
Month 4 50
Repayment
Loan Loss Reserve (as % face value of Originations) 1.00%
Avg. Monthly Payment $379
Avg. Loan Length (months) 42
Delinquency Rate (monthly) 5.0%
Delinquency Penalty (% of monthly pmt) 5.0%
Selling
% of Loans Sold on Secondary Market 0%
Avg. Months Held Before Sale 1
Avg. Sale Premium (% of Face Value) 0.00%
Compensation Rate Segment Rate
Loans through External Bounty 0.0% 25% 0.0%
Loans through In-House Bounty 0.0% 70% 0.0%
Loans through Referral 0.0% 5% 0.0%
Annual Bonus Pool
Annual Salary Increase
Health Insurance Rate
Payroll Tax Rate
Additional payroll benefits load
1/20/16
Schedule Mo. 1 2 3 4 5 6 7 8 9 10 11 12

Low
Rate: 13.5% Pmt 300 300 300 300 300 300 300 300 300 300 300 300
Length: 42 Bal 10,000 9,812 9,623 9,431 9,237 9,041 8,842 8,642 8,439 8,234 8,026 7,817
Payment/Mo $300 Int 113 110 108 106 104 102 99 97 95 93 90 88
Amount $10,000 Prin 188 190 192 194 196 198 201 203 205 207 210 212

Mid
Rate: 18.5% Pmt 325 325 325 325 325 325 325 325 325 325 325 325
Length: 42 Bal 10,000 9,829 9,655 9,479 9,300 9,118 8,933 8,746 8,556 8,362 8,166 7,967
Payment/Mo $325 Int 154 152 149 146 143 141 138 135 132 129 126 123
Amount $10,000 Prin 171 174 176 179 182 185 187 190 193 196 199 202

MidHigh
Rate: 23.5% Pmt 351 351 351 351 351 351 351 351 351 351 351 351
Length: 42 Bal 10,000 9,844 9,686 9,524 9,359 9,191 9,019 8,844 8,666 8,484 8,299 8,110
Payment/Mo $351 Int 196 193 190 187 183 180 177 173 170 166 163 159
Amount $10,000 Prin 156 159 162 165 168 172 175 178 182 185 189 193

High
Rate: 28.5% Pmt 379 379 379 379 379 379 379 379 379 379 379 379
Length: 42 Bal 10,000 9,859 9,714 9,566 9,414 9,259 9,100 8,937 8,770 8,600 8,425 8,247
Payment/Mo $379 Int 238 234 231 227 224 220 216 212 208 204 200 196
Amount $10,000 Prin 141 145 148 152 155 159 163 167 171 175 179 183

Unhide to view Paymts:

Principal
Low
Interest

Principal
Mid
Interest

Principal
MidHigh
Interest

Principal
High
Interest
 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29

300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300
7,605 7,390 7,173 6,954 6,732 6,508 6,281 6,051 5,819 5,585 5,347 5,107 4,865 4,620 4,371 4,121 3,867
86 83 81 78 76 73 71 68 65 63 60 57 55 52 49 46 44
215 217 219 222 224 227 229 232 235 237 240 243 245 248 251 254 257

325 325 325 325 325 325 325 325 325 325 325 325 325 325 325 325 325
7,764 7,559 7,350 7,138 6,923 6,704 6,483 6,257 6,029 5,796 5,561 5,321 5,078 4,831 4,580 4,326 4,067
120 117 113 110 107 103 100 96 93 89 86 82 78 74 71 67 63
206 209 212 215 218 222 225 229 232 236 239 243 247 251 255 259 263

351 351 351 351 351 351 351 351 351 351 351 351 351 351 351 351 351
7,917 7,721 7,521 7,316 7,108 6,896 6,679 6,459 6,234 6,004 5,770 5,532 5,289 5,041 4,788 4,530 4,268
155 151 147 143 139 135 131 126 122 118 113 108 104 99 94 89 84
196 200 204 208 212 216 221 225 229 234 238 243 248 253 258 263 268

379 379 379 379 379 379 379 379 379 379 379 379 379 379 379 379 379
8,064 7,876 7,684 7,488 7,287 7,081 6,870 6,655 6,434 6,208 5,977 5,740 5,497 5,249 4,995 4,734 4,468
192 187 183 178 173 168 163 158 153 147 142 136 131 125 119 112 106
187 192 196 201 206 211 216 221 226 231 237 243 248 254 260 266 273
 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46

300 300 300 300 300 300 300 300 300 300 300 300 300 0 0 0 0
3,610 3,351 3,088 2,823 2,555 2,283 2,009 1,732 1,451 1,167 880 590 297 0 0 0 0
41 38 35 32 29 26 23 19 16 13 10 7 3 0 0 0 0
259 262 265 268 271 274 277 281 284 287 290 293 297 0 0 0 0

325 325 325 325 325 325 325 325 325 325 325 325 325 0 0 0 0
3,805 3,538 3,267 2,993 2,713 2,430 2,142 1,850 1,553 1,252 946 636 320 0 0 0 0
59 55 50 46 42 37 33 29 24 19 15 10 5 0 0 0 0
267 271 275 279 283 288 292 297 301 306 311 315 320 0 0 0 0

351 351 351 351 351 351 351 351 351 351 351 351 351 0 0 0 0
4,000 3,727 3,448 3,164 2,875 2,579 2,278 1,972 1,659 1,340 1,014 683 345 0 0 0 0
78 73 68 62 56 51 45 39 32 26 20 13 7 0 0 0 0
273 279 284 290 295 301 307 313 319 325 332 338 345 0 0 0 0

379 379 379 379 379 379 379 379 379 379 379 379 379 0 0 0 0
4,195 3,916 3,630 3,337 3,038 2,731 2,417 2,096 1,766 1,430 1,085 732 370 0 0 0 0
100 93 86 79 72 65 57 50 42 34 26 17 9 0 0 0 0
279 286 293 300 307 314 321 329 337 345 353 361 370 0 0 0 0
47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
115 116 117 118 119 120

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
LOAN ORIGINATION 1 2 3 4 5 6 7 8 9 10 11 12
Origination Funding
Starting Cash Balance $6.31 $5.48 $4.68 $3.90 $3.16 $2.44 $1.76 $1.10
% to loan out 16% 18% 21% 26% 32% 41% 57% 91%
Cash Available for New Loans ($MM) $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00

# Originations, Low 10 10 10 10 10 10 10 10 10 10 10 10
Cumulative Originations 10 20 30 40 50 60 70 80 90 100 110 120
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 10 20 30 40 50 60 70 80 90 100 110 120

# Originations, Mid 15 15 15 15 15 15 15 15 15 15 15 15
Cumulative Originations 15 30 45 60 75 90 105 120 135 150 165 180
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 15 30 45 60 75 90 105 120 135 150 165 180

# Originations, MidHigh 25 25 25 25 25 25 25 25 25 25 25 25
Cumulative Originations 25 50 75 100 125 150 175 200 225 250 275 300
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 25 50 75 100 125 150 175 200 225 250 275 300

# Originations, High 50 50 50 50 50 50 50 50 50 50 50 50
Cumulative Originations 50 100 150 200 250 300 350 400 450 500 550 600
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 50 100 150 200 250 300 350 400 450 500 550 600

# Originations, TOTAL 100 100 100 100 100 100 100 100 100 100 100 100
Cumulative Originations 100 200 300 400 500 600 700 800 900 1000 1100 1200
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 100 200
Loans on Hand 300 400 500 600 700 800 900 1000 1100 1200
LOAN ORIGINATION 13 14 15 16 17 18 19 20 21 22 23 24
Origination Funding
Starting Cash Balance $0.47 $0.40 $0.40 $0.42 $0.42 $0.42 $0.44 $0.46 $0.48 $0.50 $0.51 $0.53
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $0.46 $0.39 $0.39 $0.41 $0.40 $0.41 $0.43 $0.45 $0.47 $0.48 $0.49 $0.52

# Originations, Low 4 3 3 4 4 4 4 4 4 4 4 5
Cumulative Originations 124 127 130 134 138 142 146 150 154 158 162 167
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 124 127 130 134 138 142 146 150 154 158 162 167

# Originations, Mid 6 5 5 6 6 6 6 6 7 7 7 7
Cumulative Originations 186 191 196 202 208 214 220 226 233 240 247 254
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 186 191 196 202 208 214 220 226 233 240 247 254

# Originations, MidHigh 11 9 9 10 10 10 10 11 11 12 12 12
Cumulative Originations 311 320 329 339 349 359 369 380 391 403 415 427
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 311 320 329 339 349 359 369 380 391 403 415 427

# Originations, High 22 19 19 20 20 20 21 22 23 24 24 25
Cumulative Originations 622 641 660 680 700 720 741 763 786 810 834 859
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 622 641 660 680 700 720 741 763 786 810 834 859

# Originations, TOTAL 43 36 36 40 40 40 41 43 45 47 47 49
Cumulative Originations 1243 1279 1315 1355 1395 1435 1476 1519 1564 1611 1658 1707
# Sold 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 1243 1279 1315 1355 1395 1435 1476 1519 1564 1611 1658 1707
LOAN ORIGINATION 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41
Origination Funding
Starting Cash Balance $0.55 $0.56 $0.58 $0.60 $0.63 $0.64 $0.66 $0.68 $0.71 $0.74 $0.75 $0.79 $0.81 $0.85 $0.87 $0.90 $0.93
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $0.54 $0.55 $0.57 $0.59 $0.61 $0.62 $0.64 $0.66 $0.69 $0.72 $0.73 $0.77 $0.79 $0.83 $0.85 $0.87 $0.91

# Originations, Low 5 5 5 5 6 6 6 6 6 7 7 7 7 8 8 8 9
Cumulative Originations 172 177 182 187 193 199 205 211 217 224 231 238 245 253 261 269 278
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 172 177 182 187 193 199 205 211 217 224 231 238 245 253 261 269 278

# Originations, Mid 8 8 8 8 9 9 9 9 10 10 10 11 11 12 12 13 13
Cumulative Originations 262 270 278 286 295 304 313 322 332 342 352 363 374 386 398 411 424
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 262 270 278 286 295 304 313 322 332 342 352 363 374 386 398 411 424

# Originations, MidHigh 13 13 14 14 15 15 16 16 17 18 18 19 19 20 21 21 22
Cumulative Originations 440 453 467 481 496 511 527 543 560 578 596 615 634 654 675 696 718
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 440 453 467 481 496 511 527 543 560 578 596 615 634 654 675 696 718

# Originations, High 26 27 28 29 30 31 32 33 34 36 36 38 39 41 42 43 45
Cumulative Originations 885 912 940 969 999 1030 1062 1095 1129 1165 1201 1239 1278 1319 1361 1404 1449
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 885 912 940 969 999 1030 1062 1095 1129 1165 1201 1239 1278 1319 1361 1404 1449

# Originations, TOTAL 52 53 55 56 60 61 63 64 67 71 71 75 76 81 83 85 89
Cumulative Originations 1759 1812 1867 1923 1983 2044 2107 2171 2238 2309 2380 2455 2531 2612 2695 2780 2869
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans on Hand 1759 1812 1867 1923 1983 2044 2107 2171 2238 2309 2380 2455 2531 2612 2695 2780 2869
LOAN ORIGINATION 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58
Origination Funding
Starting Cash Balance $0.96 $0.99 $0.98 $0.98 $0.97 $0.96 $0.96 $0.96 $0.96 $0.95 $0.94 $0.95 $0.92 $0.92 $0.95 $0.96 $0.99
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $0.94 $0.97 $0.96 $0.96 $0.94 $0.94 $0.94 $0.93 $0.93 $0.93 $0.92 $0.92 $0.90 $0.89 $0.92 $0.93 $0.96

# Originations, Low 9 9 9 9 9 9 9 9 9 9 9 9 9 8 9 9 9
Cumulative Originations 287 296 305 314 323 332 341 350 359 368 377 386 395 403 412 421 430
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 10 10 10 10 10 10 10 10 10 10 10 10 4 3 3 4
Loans on Hand 287 286 285 284 283 282 281 280 279 278 277 276 275 279 285 291 296

# Originations, Mid 14 14 14 14 14 14 14 13 13 13 13 13 13 13 13 13 14
Cumulative Originations 438 452 466 480 494 508 522 535 548 561 574 587 600 613 626 639 653
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 15 15 15 15 15 15 15 15 15 15 15 15 6 5 5 6
Loans on Hand 438 437 436 435 434 433 432 430 428 426 424 422 420 427 435 443 451

# Originations, MidHigh 23 24 23 24 23 23 23 23 23 23 22 23 22 22 23 23 24
Cumulative Originations 741 765 788 812 835 858 881 904 927 950 972 995 1017 1039 1062 1085 1109
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 25 25 25 25 25 25 25 25 25 25 25 25 11 9 9 10
Loans on Hand 741 740 738 737 735 733 731 729 727 725 722 720 717 728 742 756 770

# Originations, High 46 48 47 48 47 46 46 46 46 46 45 46 45 44 46 46 48
Cumulative Originations 1495 1543 1590 1638 1685 1731 1777 1823 1869 1915 1960 2006 2051 2095 2141 2187 2235
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 50 50 50 50 50 50 50 50 50 50 50 50 22 19 19 20
Loans on Hand 1495 1493 1490 1488 1485 1481 1477 1473 1469 1465 1460 1456 1451 1473 1500 1527 1555

# Originations, TOTAL 92 95 93 95 93 92 92 91 91 91 89 91 89 87 91 91 95
Cumulative Originations 2961 3056 3149 3244 3337 3429 3521 3612 3703 3794 3883 3974 4063 4150 4241 4332 4427
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 0 100 100 100 100 100 100 100 100 100 100 100 100 43 36 36 40
Loans on Hand 2961 2956 2949 2944 2937 2929 2921 2912 2903 2894 2883 2874 2863 2907 2962 3017 3072
LOAN ORIGINATION 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74
Origination Funding
Starting Cash Balance $0.99 $1.02 $1.05 $1.05 $1.07 $1.09 $1.12 $1.14 $1.16 $1.18 $1.20 $1.21 $1.24 $1.25 $1.27 $1.29
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $0.97 $0.99 $1.02 $1.02 $1.05 $1.07 $1.09 $1.11 $1.13 $1.15 $1.17 $1.18 $1.21 $1.22 $1.24 $1.25

# Originations, Low 9 9 10 10 10 10 10 11 11 11 11 11 12 12 12 12
Cumulative Originations 439 448 458 468 478 488 498 509 520 531 542 553 565 577 589 601
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 4 4 4 4 4 4 4 5 5 5 5 5 6 6 6 6
Loans on Hand 301 306 312 318 324 330 336 342 348 354 360 366 372 378 384 390

# Originations, Mid 14 14 15 15 15 15 16 16 16 17 17 17 18 18 18 18
Cumulative Originations 667 681 696 711 726 741 757 773 789 806 823 840 858 876 894 912
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 6 6 6 6 7 7 7 7 8 8 8 8 9 9 9 9
Loans on Hand 459 467 476 485 493 501 510 519 527 536 545 554 563 572 581 590

# Originations, MidHigh 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31
Cumulative Originations 1133 1157 1182 1207 1233 1259 1286 1313 1341 1369 1398 1427 1457 1487 1518 1549
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 10 10 10 11 11 12 12 12 13 13 14 14 15 15 16 16
Loans on Hand 784 798 813 827 842 856 871 886 901 916 931 946 961 976 991 1006

# Originations, High 48 49 51 51 52 53 54 55 56 57 58 59 60 60 62 62
Cumulative Originations 2283 2332 2383 2434 2486 2539 2593 2648 2704 2761 2819 2878 2938 2998 3060 3122
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 20 20 21 22 23 24 24 25 26 27 28 29 30 31 32 33
Loans on Hand 1583 1612 1642 1671 1700 1729 1759 1789 1819 1849 1879 1909 1939 1968 1998 2027

# Originations, TOTAL 95 96 101 101 103 104 107 109 111 113 115 116 120 120 123 123
Cumulative Originations 4522 4618 4719 4820 4923 5027 5134 5243 5354 5467 5582 5698 5818 5938 6061 6184
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 40 40 41 43 45 47 47 49 52 53 55 56 60 61 63 64
Loans on Hand 3127 3183 3243 3301 3359 3416 3476 3536 3595 3655 3715 3775 3835 3894 3954 4013
LOAN ORIGINATION 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90
Origination Funding
Starting Cash Balance $1.32 $1.33 $1.36 $1.37 $1.39 $1.42 $1.43 $1.46 $1.46 $1.48 $1.48 $1.51 $1.52 $1.54 $1.57 $1.58
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $1.29 $1.30 $1.33 $1.34 $1.36 $1.38 $1.39 $1.42 $1.42 $1.44 $1.45 $1.47 $1.49 $1.50 $1.53 $1.54

# Originations, Low 12 12 13 13 13 13 13 14 14 14 14 14 14 14 15 15
Cumulative Originations 613 625 638 651 664 677 690 704 718 732 746 760 774 788 803 818
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 6 7 7 7 7 8 8 8 9 9 9 9 9 9 9 9
Loans on Hand 396 401 407 413 419 424 429 435 440 445 450 455 460 465 471 477

# Originations, Mid 19 19 19 20 20 20 20 21 21 21 21 22 22 22 22 23
Cumulative Originations 931 950 969 989 1009 1029 1049 1070 1091 1112 1133 1155 1177 1199 1221 1244
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 10 10 10 11 11 12 12 13 13 14 14 14 14 14 14 14
Loans on Hand 599 608 617 626 635 643 651 659 667 674 681 689 697 705 713 722

# Originations, MidHigh 32 32 33 33 33 34 34 35 35 36 36 36 37 37 38 38
Cumulative Originations 1581 1613 1646 1679 1712 1746 1780 1815 1850 1886 1922 1958 1995 2032 2070 2108
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 17 18 18 19 19 20 21 21 22 23 24 23 24 23 23 23
Loans on Hand 1021 1035 1050 1064 1078 1092 1105 1119 1132 1145 1157 1170 1183 1197 1212 1227

# Originations, High 64 64 66 66 67 69 69 71 70 72 72 73 74 74 76 76
Cumulative Originations 3186 3250 3316 3382 3449 3518 3587 3658 3728 3800 3872 3945 4019 4093 4169 4245
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 34 36 36 38 39 41 42 43 45 46 48 47 48 47 46 46
Loans on Hand 2057 2085 2115 2143 2171 2199 2226 2254 2279 2305 2329 2355 2381 2408 2438 2468

# Originations, TOTAL 127 127 131 132 133 136 136 141 140 143 143 145 147 147 151 152
Cumulative Originations 6311 6438 6569 6701 6834 6970 7106 7247 7387 7530 7673 7818 7965 8112 8263 8415
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 67 71 71 75 76 81 83 85 89 92 95 93 95 93 92 92
Loans on Hand 4073 4129 4189 4246 4303 4358 4411 4467 4518 4569 4617 4669 4721 4775 4834 4894
LOAN ORIGINATION 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106
Origination Funding
Starting Cash Balance $1.60 $1.62 $1.64 $1.64 $1.67 $1.70 $1.74 $1.76 $1.79 $1.81 $1.83 $1.87 $1.89 $1.93 $1.95 $1.97
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $1.56 $1.58 $1.60 $1.60 $1.62 $1.66 $1.70 $1.72 $1.75 $1.77 $1.79 $1.82 $1.84 $1.88 $1.90 $1.92

# Originations, Low 15 15 16 16 16 16 16 17 17 17 17 18 18 18 19 19
Cumulative Originations 833 848 864 880 896 912 928 945 962 979 996 1014 1032 1050 1069 1088
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 9 9 9 9 9 9 8 9 9 9 9 9 10 10 10 10
Loans on Hand 483 489 496 503 510 517 525 533 541 549 557 566 574 582 591 600

# Originations, Mid 23 23 24 24 24 24 25 25 26 26 26 27 27 28 28 28
Cumulative Originations 1267 1290 1314 1338 1362 1386 1411 1436 1462 1488 1514 1541 1568 1596 1624 1652
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 13 13 13 13 13 13 13 13 13 14 14 14 15 15 15 15
Loans on Hand 732 742 753 764 775 786 798 810 823 835 847 860 872 885 898 911

# Originations, MidHigh 38 39 40 40 40 41 42 42 43 44 44 45 45 46 47 47
Cumulative Originations 2146 2185 2225 2265 2305 2346 2388 2430 2473 2517 2561 2606 2651 2697 2744 2791
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 23 23 23 22 23 22 22 23 23 24 24 24 25 25 26 26
Loans on Hand 1242 1258 1275 1293 1310 1329 1349 1368 1388 1408 1428 1449 1469 1490 1511 1532

# Originations, High 77 79 80 80 81 82 84 85 87 88 89 91 91 93 95 95
Cumulative Originations 4322 4401 4481 4561 4642 4724 4808 4893 4980 5068 5157 5248 5339 5432 5527 5622
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 46 46 46 45 46 45 44 46 46 48 48 49 51 51 52 53
Loans on Hand 2499 2532 2566 2601 2636 2673 2713 2752 2793 2833 2874 2916 2956 2998 3041 3083

# Originations, TOTAL 153 156 160 160 161 163 167 169 173 175 176 181 181 185 189 189
Cumulative Originations 8568 8724 8884 9044 9205 9368 9535 9704 9877 10052 10228 10409 10590 10775 10964 11153
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 91 91 91 89 91 89 87 91 91 95 95 96 101 101 103 104
Loans on Hand 4956 5021 5090 5161 5231 5305 5385 5463 5545 5625 5706 5791 5871 5955 6041 6126
LOAN ORIGINATION 107 108 109 110 111 112 113 114 115 116 117 118 119 120 Year 1 Year 2
Origination Funding
Starting Cash Balance $2.01 $2.04 $2.07 $2.08 $2.11 $2.15 $2.18 $2.19 $2.23 $2.27 $2.29 $2.33 $2.36 $2.40 $28.83 $5.45
% to loan out 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 38% 98%
Cash Available for New Loans ($MM) $1.96 $1.99 $2.01 $2.03 $2.06 $2.09 $2.12 $2.14 $2.18 $2.21 $2.23 $2.27 $2.30 $2.34 $8.00 $5.31

# Originations, Low 19 19 20 20 20 20 21 21 21 22 22 22 22 23 120 47

Cumulative Originations 1107 1126 1146 1166 1186 1206 1227 1248 1269 1291 1313 1335 1357 1380 120 167
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 10 11 11 11 11 11 12 12 12 12 12 12 13 13 0 0
Loans on Hand 609 617 626 635 644 653 662 671 680 690 700 710 719 729 120 167

# Originations, Mid 29 29 30 30 30 31 31 32 32 33 33 34 34 35 180 74

Cumulative Originations 1681 1710 1740 1770 1800 1831 1862 1894 1926 1959 1992 2026 2060 2095 180 254
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 16 16 16 17 17 17 18 18 18 18 19 19 19 20 0 0
Loans on Hand 924 937 951 964 977 991 1004 1018 1032 1047 1061 1076 1091 1106 180 254

# Originations, MidHigh 48 49 50 50 51 52 53 53 54 55 55 56 57 58 300 127

Cumulative Originations 2839 2888 2938 2988 3039 3091 3144 3197 3251 3306 3361 3417 3474 3532 300 427
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 27 27 28 28 29 29 30 30 31 31 32 32 33 33 0 0
Loans on Hand 1553 1575 1597 1619 1641 1664 1687 1710 1733 1757 1780 1804 1828 1853 300 427

# Originations, High 97 99 100 101 103 104 106 106 108 110 111 113 114 116 600 259
Cumulative Originations 5719 5818 5918 6019 6122 6226 6332 6438 6546 6656 6767 6880 6994 7110 600 859
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 54 55 56 57 58 59 60 60 62 62 64 64 66 66 0 0
Loans on Hand 3126 3170 3214 3258 3303 3348 3394 3440 3486 3534 3581 3630 3678 3728 600 859

# Originations, TOTAL 193 196 200 201 204 207 211 212 215 220 221 225 227 232 1200 507
Cumulative Originations 11346 11542 11742 11943 12147 12354 12565 12777 12992 13212 13433 13658 13885 14117 1200 1707
# Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retirements 107 109 111 113 115 116 120 120 123 123 127 127 131 132 0 0
Loans on Hand 6212 6299 6388 6476 6565 6656 6747 6839 6931 7028 7122 7220 7316 7416 1200 1707
LOAN ORIGINATION Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Origination Funding
Starting Cash Balance $7.89 $11.16 $11.49 $13.77 $16.58 $19.07 $22.59 $26.65
% to loan out 98% 98% 98% 98% 98% 98% 98% 98%
Cash Available for New Loans ($MM) $7.69 $10.88 $11.20 $13.43 $16.16 $18.59 $22.02 $25.98

# Originations, Low 71 103 107 129 155 180 214 254

Cumulative Originations 238 341 448 577 732 912 1,126 1,380
# Sold 0 0 0 0 0 0 0 0
Retirements 0 60 82 57 88 108 114 142
Loans on Hand 238 281 306 378 445 517 617 729

# Originations, Mid 109 159 159 195 236 274 324 385
Cumulative Originations 363 522 681 876 1,112 1,386 1,710 2,095
# Sold 0 0 0 0 0 0 0 0
Retirements 0 90 124 90 134 162 173 216
Loans on Hand 363 432 467 572 674 786 937 1,106

# Originations, MidHigh 188 266 276 330 399 460 542 644
Cumulative Originations 615 881 1,157 1,487 1,886 2,346 2,888 3,532
# Sold 0 0 0 0 0 0 0 0
Retirements 0 150 209 152 230 276 296 366
Loans on Hand 615 731 798 976 1,145 1,329 1,575 1,853

# Originations, High 380 538 555 666 802 924 1,094 1,292
Cumulative Originations 1,239 1,777 2,332 2,998 3,800 4,724 5,818 7,110
# Sold 0 0 0 0 0 0 0 0
Retirements 0 300 420 310 465 556 597 734
Loans on Hand 1,239 1,477 1,612 1,968 2,305 2,673 3,170 3,728

# Originations, TOTAL 748 1066 1097 1320 1592 1838 2174 2575
Cumulative Originations 2455 3521 4618 5938 7530 9368 11542 14117
# Sold 0 0 0 0 0 0 0 0
Retirements 0 600 835 609 917 1102 1180 1458
Loans on Hand 2455 2921 3183 3894 4569 5305 6299 7416
REVENUE Year 1
Low
Loan Sale Premiums $0
Delinquency Fees $585
Interest $81,542
Packaging Fees $84,000
TOTAL, TRADITIONAL $166,127

Mid
Loan Sale Premiums $0
Delinquency Fees $951
Interest $168,614
Packaging Fees $126,000
TOTAL, Mid $295,566

MidHigh
Loan Sale Premiums $0
Delinquency Fees $1,713
Interest $358,975
Packaging Fees $210,000
TOTAL, MidHigh $570,689

High
Loan Sale Premiums $0
Delinquency Fees $3,694
Interest $875,263
Packaging Fees $420,000
TOTAL, High $1,298,957

TOTAL REVENUE $2,331,338

REVENUE Year 2
Low
Loan Sale Premiums $0
Delinquency Fees $1,299
Interest $153,317
Packaging Fees $32,900
TOTAL, TRADITIONAL $187,516

Mid
Loan Sale Premiums $0
Delinquency Fees $2,128
Interest $323,308
Packaging Fees $51,800
TOTAL, Mid $377,235

MidHigh
Loan Sale Premiums $0
Delinquency Fees $3,859
Interest $700,967
Packaging Fees $88,900
TOTAL, MidHigh $793,726

High
Loan Sale Premiums $0
Delinquency Fees $8,350
Interest $1,733,032
Packaging Fees $181,300
TOTAL, High $1,922,682

TOTAL REVENUE $3,281,159

REVENUE Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Low
Loan Sale Premiums $0 $0 $0 $0 $0 $0 $0 $0
Delinquency Fees $1,827 $2,471 $2,568 $3,106 $3,738 $4,333 $5,134 $6,091
Interest $172,049 $201,112 $238,843 $280,701 $330,981 $390,139 $461,435 $546,547
Packaging Fees $49,700 $72,100 $74,900 $90,300 $108,500 $126,000 $149,800 $177,800
TOTAL, TRADITIONAL $223,576 $275,684 $316,310 $374,107 $443,220 $520,472 $616,369 $730,437

Mid
Loan Sale Premiums $0 $0 $0 $0 $0 $0 $0 $0
Delinquency Fees $3,024 $4,096 $4,254 $5,107 $6,138 $7,121 $8,455 $10,015
Interest $371,210 $433,714 $508,362 $595,058 $703,202 $832,037 $982,925 $1,160,422
Packaging Fees $76,300 $111,300 $111,300 $136,500 $165,200 $191,800 $226,800 $269,500
TOTAL, Mid $450,533 $549,110 $623,916 $736,664 $874,540 $1,030,958 $1,218,180 $1,439,936

MidHigh
Loan Sale Premiums $0 $0 $0 $0 $0 $0 $0 $0
Delinquency Fees $5,507 $7,497 $7,836 $9,425 $11,281 $13,051 $15,395 $18,166
Interest $816,307 $958,834 $1,124,934 $1,319,662 $1,552,090 $1,825,089 $2,145,015 $2,525,663
Packaging Fees $131,600 $186,200 $193,200 $231,000 $279,300 $322,000 $379,400 $450,800
TOTAL, MidHigh $953,414 $1,152,531 $1,325,970 $1,560,087 $1,842,671 $2,160,140 $2,539,810 $2,994,628

High
Loan Sale Premiums $0 $0 $0 $0 $0 $0 $0 $0
Delinquency Fees $11,959 $16,310 $17,072 $20,509 $24,493 $28,307 $33,392 $39,396
Interest $2,044,610 $2,404,598 $2,809,816 $3,298,411 $3,870,348 $4,546,177 $5,345,981 $6,295,527
Packaging Fees $266,000 $376,600 $388,500 $466,200 $561,400 $646,800 $765,800 $904,400
TOTAL, High $2,322,569 $2,797,508 $3,215,387 $3,785,120 $4,456,241 $5,221,284 $6,145,173 $7,239,323

TOTAL REVENUE $3,950,092 $4,774,832 $5,481,583 $6,455,979 $7,616,672 $8,932,855 $10,519,533 $12,404,325
COST OF REVENUE Year 1
COMMISSIONS
External Bounties $0
In-House Bounties $0
Referral $0
TOTAL COMMISSIONS $0

DATA PULLS
Low 150
Mid 225
MidHigh 375
High 750
Average 3rd party API cost per application $5.00
TOTAL DATA PULLS $7,500

CLOSING PROCEDURES
Low $0
Mid $0
MidHigh $0
High $0
TOTAL CLOSING PROCEDURES $0

PROVISION FOR LOAN LOSS RESERVE

Low $12,000
Mid $18,000
MidHigh $30,000
High $60,000
TOTAL PROVISION FOR LOAN LOSS RESERVE $120,000

TOTAL COST OF REVENUE $127,500

COST OF REVENUE Year 2
COMMISSIONS
External Bounties $0
In-House Bounties $0
Referral $0
TOTAL COMMISSIONS $0

DATA PULLS
Low 59
Mid 93
MidHigh 159
High 324
Average 3rd party API cost per application $5.00
TOTAL DATA PULLS $3,169

CLOSING PROCEDURES
Low $0
Mid $0
MidHigh $0
High $0
TOTAL CLOSING PROCEDURES $0

PROVISION FOR LOAN LOSS RESERVE

Low $4,700
Mid $7,400
MidHigh $12,700
High $25,900
TOTAL PROVISION FOR LOAN LOSS RESERVE $50,700

TOTAL COST OF REVENUE $53,869

COST OF REVENUE Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
COMMISSIONS
External Bounties $0 $0 $0 $0 $0 $0
In-House Bounties $0 $0 $0 $0 $0 $0
Referral $0 $0 $0 $0 $0 $0
TOTAL COMMISSIONS $0 $0 $0 $0 $0 $0

DATA PULLS
Low 89 129 134 161 194 225
Mid 136 199 199 244 295 343
MidHigh 235 333 345 413 499 575
High 475 673 694 833 1,003 1,155
Average 3rd party API cost per application $5.00 $5.00 $5.00 $5.00 $5.00 $5.00
TOTAL DATA PULLS $4,675 $6,663 $6,856 $8,250 $9,950 $11,488

CLOSING PROCEDURES
Low $0 $0 $0 $0 $0 $0
Mid $0 $0 $0 $0 $0 $0
MidHigh $0 $0 $0 $0 $0 $0
High $0 $0 $0 $0 $0 $0
TOTAL CLOSING PROCEDURES $0 $0 $0 $0 $0 $0

PROVISION FOR LOAN LOSS RESERVE

Low $7,100 $10,300 $10,700 $12,900 $15,500 $18,000
Mid $10,900 $15,900 $15,900 $19,500 $23,600 $27,400
MidHigh $18,800 $26,600 $27,600 $33,000 $39,900 $46,000
High $38,000 $53,800 $55,500 $66,600 $80,200 $92,400
TOTAL PROVISION FOR LOAN LOSS RESERVE $74,800 $106,600 $109,700 $132,000 $159,200 $183,800

TOTAL COST OF REVENUE $79,475 $113,263 $116,556 $140,250 $169,150 $195,288

COST OF REVENUE Year 9 Year 10
COMMISSIONS
External Bounties $0 $0
In-House Bounties $0 $0
Referral $0 $0
TOTAL COMMISSIONS $0 $0

DATA PULLS
Low 268 318
Mid 405 481
MidHigh 678 805
High 1,368 1,615
Average 3rd party API cost per application $5.00 $5.00
TOTAL DATA PULLS $13,588 $16,094

CLOSING PROCEDURES
Low $0 $0
Mid $0 $0
MidHigh $0 $0
High $0 $0
TOTAL CLOSING PROCEDURES $0 $0

PROVISION FOR LOAN LOSS RESERVE

Low $21,400 $25,400
Mid $32,400 $38,500
MidHigh $54,200 $64,400
High $109,400 $129,200
TOTAL PROVISION FOR LOAN LOSS RESERVE $217,400 $257,500

TOTAL COST OF REVENUE $230,988 $273,594

PAYROLL Start Mo. Base $k Year 1
CURRENT POSITIONS
Managing Director 1 $80.0 $80,000
Director, Information Technology 1 $0.0 $0
Chief Legal Officer (Chris, Compliance) 1 $45.0 $45,000
Controller 1 $0.0 $0
CEO 13 $0.0 $0
Loan Processing 1 $30.0 $30,000
Customer Relations 1 $0.0 $0
Operations 1 $0.0 $0
Total Salary, Current Positions 8 $155 $155,000
PLANNED POSITIONS
Admin #1 3 $30.0 $25,000
Admin #2 15 $0.0 $0
Chief Credit Officer 1 $0.0 $0
Closer #1 2 $0.0 $0
Closer #2 3 $0.0 $0
Closing Manager 2 $0.0 $0
Customer/Collections 15 $0.0 $0
Customer/Collections 27 $0.0 $0
Customer/Collections 39 $0.0 $0
Marketing #1 3 $0.0 $0
Quality Control #1 3 $0.0 $0
Quality Control #2 27 $0.0 $0
Servicing #1 3 $0.0 $0
Servicing #2 3 $0.0 $0
Underwriter 2 $0.0 $0
PAYROLL Year 2
CURRENT POSITIONS
Managing Director $83,200
Director, Information Technology $0
Chief Legal Officer (Chris, Compliance) $46,800
Controller $0
CEO $0
Loan Processing $31,200
Customer Relations $0
Operations $0
Total Salary, Current Positions $161,200
PLANNED POSITIONS
Admin #1 $31,000
Admin #2 $0
Chief Credit Officer $0
Closer #1 $0
Closer #2 $0
Closing Manager $0
Customer/Collections $0
Customer/Collections $0
Customer/Collections $0
Marketing #1 $0
Quality Control #1 $0
Quality Control #2 $0
Servicing #1 $0
Servicing #2 $0
Underwriter $0
PAYROLL Year 3
CURRENT POSITIONS
Managing Director $86,528
Director, Information Technology $0
Chief Legal Officer (Chris, Compliance) $48,672
Controller $0
CEO $0
Loan Processing $32,448
Customer Relations $0
Operations $0
Total Salary, Current Positions $167,648
PLANNED POSITIONS
Admin #1 $32,240
Admin #2 $0
Chief Credit Officer $0
Closer #1 $0
Closer #2 $0
Closing Manager $0
Customer/Collections $0
Customer/Collections $0
Customer/Collections $0
Marketing #1 $0
Quality Control #1 $0
Quality Control #2 $0
Servicing #1 $0
Servicing #2 $0
Underwriter $0
OVERHEAD Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
ADMINISTRATIVE
Insurance
General Liability Insurance $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Workers Compensation $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Insurance $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Professional Services
Accounting $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800
Legal $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Total Professional Services $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300
General
Social Media $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Business Licenses and Permits $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Dues and Subscriptions $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100
Office Supplies $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400
Postage and Delivery $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Telephone $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Bank Service Charges $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Rent $20,760 $20,760 $20,760 $20,760 $20,760 $20,760 $20,760 $20,760 $20,760 $20,760
Parking $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General $29,460 $29,460 $29,460 $29,460 $29,460 $29,460 $29,460 $29,460 $29,460 $29,460
Utilities
Electricity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Telephone/Internet/Cable $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752
Total Utilities $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752 $1,752
Web
SEO $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
VOIP & Hosting $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Total Web $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
TOTAL ADMINISTRATIVE $46,012 $46,012 $46,012 $46,012 $46,012 $46,012 $46,012 $46,012 $46,012 $46,012
OPERATING EXPENSE
Travel
Taxis $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Meals $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Auto $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
Lodging $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Travel $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600
General
Graphic Design / Marketing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Automobile Expense $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Shows & Conferences $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Meals and Entertainment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Background Checks $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Professional Memberships $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Training Expense $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Company Meals $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500
TOTAL OPERATING EXPENSE $14,100 $14,100 $14,100 $14,100 $14,100 $14,100 $14,100 $14,100 $14,100 $14,100

Total Overhead $60,112 $60,112 $60,112 $60,112 $60,112 $60,112 $60,112 $60,112 $60,112 $60,112
OPERATING EXPENSE Year 1
SALARY, BENEFITS, & BONUS
Salary
Current Positions $155,000
Planned Positions $25,000
Benefits & Costs $36,000
Total Base $216,000
Bonus $1,800
TOTAL SALARY, BENEFITS, & BONUS $217,800

OVERHEAD
Administrative $46,012
Operating Expense $14,100
TOTAL OVERHEAD $60,112

SOFTWARE SERVICING & DEPRECIATION

Accounting Software mo. $k
License 120 8.2 $822
Installation 120 1.3 $132
Designer 120 0.6 $62
Connector 120 0.5 $52
Total Depreciation, Accounting $1,067
Service Costs $175 $2,100
Total Expense, Accounting Sofware $3,167
Loan Management Software
Loan Manager 120 56.8 $5,675
Forms 120 19.1 $1,910
Pro Package 120 9.2 $917
Import Package 120 2.8 $277
Total Depreciation, Loan Mgmt. $8,779
Service Costs, Loan Manager 120 36.0 $3,600
Service Costs, Pro Package $250 $3,000
Total Expense, Loan Mgmt. Sofware $15,379
TOTAL DEPRECIATION EXPENSE $9,846
TOTAL SOFTWARE SVC. & DEPRECIATION $18,546
TOTAL OPERATING EXPENSE $296,458
OPERATING EXPENSE ### Year 2
SALARY, BENEFITS, & BONUS
Salary
Current Positions ### $161,200
Planned Positions ### $31,000
Benefits & Costs ### $38,440
Total Base ### $230,640
Bonus ### $1,922
TOTAL SALARY, BENEFITS, & BONUS ### $232,562

OVERHEAD
Administrative ### $46,012
Operating Expense ### $14,100
TOTAL OVERHEAD ### $60,112

SOFTWARE SERVICING & DEPRECIATION

Accounting Software mo. $k
License 120 8.2 $822
Installation 120 1.3 $132
Designer 120 0.6 $62
Connector 120 0.5 $52
Total Depreciation, Accounting ### $1,067
Service Costs $175 ### $2,100
Total Expense, Accounting Sofware ### $3,167
Loan Management Software
Loan Manager 120 56.8 $5,675
Forms 120 19.1 $1,910
Pro Package 120 9.2 $917
Import Package 120 2.8 $277
Total Depreciation, Loan Mgmt. ### $8,779
Service Costs, Loan Manager 120 36.0 $3,600
Service Costs, Pro Package $250 ### $3,000
Total Expense, Loan Mgmt. Sofware ### $15,379
TOTAL DEPRECIATION EXPENSE ### $9,846
TOTAL SOFTWARE SVC. & DEPRECIATION ### $18,546
TOTAL OPERATING EXPENSE ### $311,220
OPERATING EXPENSE ### Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
SALARY, BENEFITS, & BONUS
Salary
Current Positions ### $167,648 $174,354 $181,328 $188,581 $196,124 $203,969
Planned Positions ### $32,240 $33,530 $34,871 $36,266 $37,716 $39,225
Benefits & Costs ### $39,978 $41,577 $43,240 $44,969 $46,768 $48,639
Total Base ### $239,866 $249,460 $259,439 $269,816 $280,609 $291,833
Bonus ### $1,999 $2,079 $2,162 $2,248 $2,338 $2,432
TOTAL SALARY, BENEFITS, & BONUS ### $241,864 $251,539 $261,601 $272,065 $282,947 $294,265

OVERHEAD
Administrative ### $46,012 $46,012 $46,012 $46,012 $46,012 $46,012
Operating Expense ### $14,100 $14,100 $14,100 $14,100 $14,100 $14,100
TOTAL OVERHEAD ### $60,112 $60,112 $60,112 $60,112 $60,112 $60,112

SOFTWARE SERVICING & DEPRECIATION

Accounting Software mo. $k
License 120 8.2 $822 $822 $822 $822 $822 $822
Installation 120 1.3 $132 $132 $132 $132 $132 $132
Designer 120 0.6 $62 $62 $62 $62 $62 $62
Connector 120 0.5 $52 $52 $52 $52 $52 $52
Total Depreciation, Accounting ### $1,067 $1,067 $1,067 $1,067 $1,067 $1,067
Service Costs $175 ### $2,100 $2,100 $2,100 $2,100 $2,100 $2,100
Total Expense, Accounting Sofware ### $3,167 $3,167 $3,167 $3,167 $3,167 $3,167
Loan Management Software
Loan Manager 120 56.8 $5,675 $5,675 $5,675 $5,675 $5,675 $5,675
Forms 120 19.1 $1,910 $1,910 $1,910 $1,910 $1,910 $1,910
Pro Package 120 9.2 $917 $917 $917 $917 $917 $917
Import Package 120 2.8 $277 $277 $277 $277 $277 $277
Total Depreciation, Loan Mgmt. ### $8,779 $8,779 $8,779 $8,779 $8,779 $8,779
Service Costs, Loan Manager 120 36.0 $3,600 $3,600 $3,600 $3,600 $3,600 $3,600
Service Costs, Pro Package $250 ### $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Expense, Loan Mgmt. Sofware ### $15,379 $15,379 $15,379 $15,379 $15,379 $15,379
TOTAL DEPRECIATION EXPENSE ### $9,846 $9,846 $9,846 $9,846 $9,846 $9,846
TOTAL SOFTWARE SVC. & DEPRECIATION ### $18,546 $18,546 $18,546 $18,546 $18,546 $18,546
TOTAL OPERATING EXPENSE ###$320,523 $330,197 $340,259 $350,723 $361,605 $372,923
OPERATING EXPENSE ### Year 9 Year 10
SALARY, BENEFITS, & BONUS
Salary
Current Positions ### $212,128 $220,613
Planned Positions ### $40,794 $42,426
Benefits & Costs ### $50,584 $52,608
Total Base ### $303,507 $315,647
Bonus ### $2,529 $2,630
TOTAL SALARY, BENEFITS, & BONUS ### $306,036 $318,277

OVERHEAD
Administrative ### $46,012 $46,012
Operating Expense ### $14,100 $14,100
TOTAL OVERHEAD ### $60,112 $60,112

SOFTWARE SERVICING & DEPRECIATION

Accounting Software mo. $k
License 120 8.2 $822 $822
Installation 120 1.3 $132 $132
Designer 120 0.6 $62 $62
Connector 120 0.5 $52 $52
Total Depreciation, Accounting ### $1,067 $1,067
Service Costs $175 ### $2,100 $2,100
Total Expense, Accounting Sofware ### $3,167 $3,167
Loan Management Software
Loan Manager 120 56.8 $5,675 $5,675
Forms 120 19.1 $1,910 $1,910
Pro Package 120 9.2 $917 $917
Import Package 120 2.8 $277 $277
Total Depreciation, Loan Mgmt. ### $8,779 $8,779
Service Costs, Loan Manager 120 36.0 $3,600 $3,600
Service Costs, Pro Package $250 ### $3,000 $3,000
Total Expense, Loan Mgmt. Sofware ### $15,379 $15,379
TOTAL DEPRECIATION EXPENSE ### $9,846 $9,846
TOTAL SOFTWARE SVC. & DEPRECIATION ### $18,546 $18,546
TOTAL OPERATING EXPENSE ### $384,694 $396,935
INCOME STATEMENT (P&L) YEAR 1
REVENUE
Low $166,127
Mid $295,566
MidHigh $570,689
High $1,298,957
TOTAL REVENUE $2,331,338

COST OF REVENUE
Commissions $0
Data Pulls $7,500
Closing Procedures $0
Provision For Loan Loss Reserve $120,000
TOTAL COST OF REVENUE $127,500

GROSS MARGIN $2,203,838

Gross Margin % 94.5%

OPERATING EXPENSE
Salary, Benefits, & Bonus $217,800
Overhead $60,112
Software Servicing $8,700
TOTAL OPERATING EXPENSE $286,612

EBITDA $1,917,226
EBITDA % 82.2%

Depreciation Expense $9,846

EBIT $1,907,380
EBIT% 81.8%

Interest Expense $0

PRETAX EARNINGS $1,907,380

Pretax Earnings % 81.8%

Income Tax Expense/(Credit) 40% $762,952

NET INCOME $1,144,428

Net Income % 49.1%

BREAKEVEN ANALYSIS
(Unhide Months 1-12 for explanation)

First Breakeven Month = 1

Components (cumulative)
Originations 1,200
Revenue ($mm) $2.33
Variable Costs ($mm) $0.13
Fixed Costs ($mm) $0.29
Contrib. Mgn./Orig ($mm) $0.00
# Originations for Breakeven 156
Additional needed for Breakeven 0
Revenue for Breakeven ($mm) $0.30
Add'l needed for Breakeven ($mm) $0.00
INCOME STATEMENT (P&L) ### YEAR 2
REVENUE
Low ### $187,516
Mid ### $377,235
MidHigh ### $793,726
High ###$1,922,682
TOTAL REVENUE ###$3,281,159

COST OF REVENUE
Commissions ### $0
Data Pulls ### $3,169
Closing Procedures ### $0
Provision For Loan Loss Reserve ### $50,700
TOTAL COST OF REVENUE ### $53,869

GROSS MARGIN ###$3,227,290

Gross Margin % ### 98.4%

OPERATING EXPENSE
Salary, Benefits, & Bonus ### $232,562
Overhead ### $60,112
Software Servicing ### $8,700
TOTAL OPERATING EXPENSE ### $301,374

EBITDA ###$2,925,916
EBITDA % ### 89.2%

Depreciation Expense ### $9,846

EBIT ###$2,916,070
EBIT% ### 88.9%

Interest Expense ### $0

PRETAX EARNINGS ###$2,916,070

Pretax Earnings % ### 88.9%

Income Tax Expense/(Credit) 40% $1,166,428

NET INCOME ###$1,749,642

Net Income % ### 53.3%

BREAKEVEN ANALYSIS Breakeven Variables

(Unhide Months 1-12 for explanation) Q
P
First Breakeven Month = 1 V
F
Components (cumulative)
Originations ### 1,707
Revenue ($mm) ### $5.61
Variable Costs ($mm) ### $0.18
Fixed Costs ($mm) ### $0.59
Contrib. Mgn./Orig ($mm) ### $0.00
# Originations for Breakeven ### 185
Additional needed for Breakeven ### 0
Revenue for Breakeven ($mm) ### $0.61
Add'l needed for Breakeven ($mm) ### $0.00
INCOME STATEMENT (P&L) ### YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9
REVENUE
Low ### $223,576 $275,684 $316,310 $374,107 $443,220 $520,472 $616,369
Mid ### $450,533 $549,110 $623,916 $736,664 $874,540 $1,030,958 $1,218,180
MidHigh ### $953,414 $1,152,531 $1,325,970 $1,560,087 $1,842,671 $2,160,140 $2,539,810
High ###$2,322,569 $2,797,508 $3,215,387 $3,785,120 $4,456,241 $5,221,284 $6,145,173
TOTAL REVENUE ###$3,950,092 $4,774,832 $5,481,583 $6,455,979 $7,616,672 $8,932,855 $10,519,533

COST OF REVENUE
Commissions ### $0 $0 $0 $0 $0 $0 $0
Data Pulls ### $4,675 $6,663 $6,856 $8,250 $9,950 $11,488 $13,588
Closing Procedures ### $0 $0 $0 $0 $0 $0 $0
Provision For Loan Loss Reserve ### $74,800 $106,600 $109,700 $132,000 $159,200 $183,800 $217,400
TOTAL COST OF REVENUE ### $79,475 $113,263 $116,556 $140,250 $169,150 $195,288 $230,988

GROSS MARGIN ###$3,870,617 $4,661,570 $5,365,027 $6,315,729 $7,447,522 $8,737,567 $10,288,545

Gross Margin % ### 98.0% 97.6% 97.9% 97.8% 97.8% 97.8% 97.8%

OPERATING EXPENSE
Salary, Benefits, & Bonus ### $241,864 $251,539 $261,601 $272,065 $282,947 $294,265 $306,036
Overhead ### $60,112 $60,112 $60,112 $60,112 $60,112 $60,112 $60,112
Software Servicing ### $8,700 $8,700 $8,700 $8,700 $8,700 $8,700 $8,700
TOTAL OPERATING EXPENSE ### $310,676 $320,351 $330,413 $340,877 $351,759 $363,077 $374,848

EBITDA ###$3,559,941 $4,341,219 $5,034,614 $5,974,852 $7,095,763 $8,374,490 $9,913,698

EBITDA % ### 90.1% 90.9% 91.8% 92.5% 93.2% 93.7% 94.2%

Depreciation Expense ### $9,846 $9,846 $9,846 $9,846 $9,846 $9,846 $9,846

EBIT ###$3,550,095 $4,331,373 $5,024,768 $5,965,006 $7,085,916 $8,364,644 $9,903,851

EBIT% ### 89.9% 90.7% 91.7% 92.4% 93.0% 93.6% 94.1%

Interest Expense ### $0 $0 $0 $0 $0 $0 $0

PRETAX EARNINGS ###$3,550,095 $4,331,373 $5,024,768 $5,965,006 $7,085,916 $8,364,644 $9,903,851

Pretax Earnings % ### 89.9% 90.7% 91.7% 92.4% 93.0% 93.6% 94.1%

Income Tax Expense/(Credit) 40% $1,420,038 $1,732,549 $2,009,907 $2,386,002 $2,834,367 $3,345,857 $3,961,541

NET INCOME ###$2,130,057 $2,598,824 $3,014,861 $3,579,003 $4,251,550 $5,018,786 $5,942,311

Net Income % ### 53.9% 54.4% 55.0% 55.4% 55.8% 56.2% 56.5%

BREAKEVEN ANALYSIS Breakeven Variables

(Unhide Months 1-12 for explanation) Q
P
First Breakeven Month = 1 V
F
Components (cumulative)
Originations ### 2,455 3,521 4,618 5,960 7,594 9,506 11,808
Revenue ($mm) ### $9.56 $14.34 $19.82 $26.27 $33.89 $42.82 $53.34
Variable Costs ($mm) ### $0.26 $0.37 $0.49 $0.63 $0.80 $1.00 $1.23
Fixed Costs ($mm) ### $0.90 $1.22 $1.55 $1.89 $2.24 $2.61 $2.98
Contrib. Mgn./Orig ($mm) ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
# Originations for Breakeven ### 237 307 370 439 515 592 675
Additional needed for Breakeven ### 0 0 0 0 0 0 0
Revenue for Breakeven ($mm) ### $0.92 $1.25 $1.59 $1.94 $2.30 $2.67 $3.05
Add'l needed for Breakeven ($mm) ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
INCOME STATEMENT (P&L) ### YEAR 10
REVENUE
Low ### $730,437
Mid ###$1,439,936
MidHigh ###$2,994,628
High ###$7,239,323
TOTAL REVENUE ###$12,404,325

COST OF REVENUE
Commissions ### $0
Data Pulls ### $16,094
Closing Procedures ### $0
Provision For Loan Loss Reserve ### $257,500
TOTAL COST OF REVENUE ### $273,594

GROSS MARGIN ###$12,130,731

Gross Margin % ### 97.8%

OPERATING EXPENSE
Salary, Benefits, & Bonus ### $318,277
Overhead ### $60,112
Software Servicing ### $8,700
TOTAL OPERATING EXPENSE ### $387,089

EBITDA ###$11,743,642
EBITDA % ### 94.7%

Depreciation Expense ### $9,846

EBIT ###$11,733,796
EBIT% ### 94.6%

Interest Expense ### $0

PRETAX EARNINGS ###$11,733,796

Pretax Earnings % ### 94.6%

Income Tax Expense/(Credit) 40% $4,693,518

NET INCOME ###$7,040,277

Net Income % ### 56.8%

BREAKEVEN ANALYSIS Breakeven Variables

(Unhide Months 1-12 for explanation) Q
P
First Breakeven Month = 1 V
F
Components (cumulative)
Originations ### 17,978
Revenue ($mm) ### $65.75
Variable Costs ($mm) ### $1.50
Fixed Costs ($mm) ### $3.37
Contrib. Mgn./Orig ($mm) ### $0.00
# Originations for Breakeven ### 942
Additional needed for Breakeven ### 0
Revenue for Breakeven ($mm) ### $3.45
Add'l needed for Breakeven ($mm) ### $0.00
BALANCE SHEET Mo. 0 Mo. 1 Mo. 2 Mo. 3 Mo. 4 Mo. 5 Mo. 6
ASSETS
Cash $10,000,000 $8,962,330 $8,050,823 $7,165,341 $6,307,812 $5,478,366 $4,677,133
Loans Receivable
Low $98,124 $194,352 $288,661 $381,031 $471,439 $559,863
Mid $147,434 $292,264 $434,447 $573,945 $710,715 $844,716
MidHigh $246,109 $488,250 $726,346 $960,318 $1,190,084 $1,415,563
High $492,932 $978,628 $1,456,915 $1,927,619 $2,390,559 $2,845,551
Total Loans Receivable $984,599 $1,953,493 $2,906,370 $3,842,913 $4,762,798 $5,665,693
Loan Loss Reserve
Low ($1,000) ($2,000) ($3,000) ($4,000) ($5,000) ($6,000)
Mid ($1,500) ($3,000) ($4,500) ($6,000) ($7,500) ($9,000)
MidHigh ($2,500) ($5,000) ($7,500) ($10,000) ($12,500) ($15,000)
High ($5,000) ($10,000) ($15,000) ($20,000) ($25,000) ($30,000)
Total Loan Loss Reserve ($10,000) ($20,000) ($30,000) ($40,000) ($50,000) ($60,000)
Net Loans Receivable
Low $97,124 $192,352 $285,661 $377,031 $466,439 $553,863
Mid $145,934 $289,264 $429,947 $567,945 $703,215 $835,716
MidHigh $243,609 $483,250 $718,846 $950,318 $1,177,584 $1,400,563
High $487,932 $968,628 $1,441,915 $1,907,619 $2,365,559 $2,815,551
Total Net Loans Receivable $974,599 $1,933,493 $2,876,370 $3,802,913 $4,712,798 $5,605,693
Property & Equip. $98,462 $98,462 $98,462 $98,462 $98,462 $98,462
(Accumulated Depreciation) ($821) ($1,641) ($2,462) ($3,282) ($4,103) ($4,923)
Net Property & Equip $97,641 $96,821 $96,000 $95,180 $94,359 $93,539
TOTAL NONCASH ASSETS $1,072,240 $2,030,314 $2,972,370 $3,898,093 $4,807,157 $5,699,232
TOTAL ASSETS $10,000,000 $10,034,571 $10,081,137 $10,137,712 $10,205,905 $10,285,522 $10,376,365

LIABILITIES
CURRENT LIABILITIES
Accounts Payable & Accrued Expenses
Other Current Liabilities
Line of Credit
TOTAL CURRENT LIABILITIES $0 $0 $0 $0 $0 $0
LONG TERM DEBT $0 $0 $0 $0 $0 $0
TOTAL LIABILITIES $0 $0 $0 $0 $0 $0
SHAREHOLDERS' EQUITY
Common Stock $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Preferred Stock $0 $0 $0 $0 $0 $0 $0
Owner Distributions $0 $0 $0 $0 $0 $0
Retained Earnings $34,571 $81,137 $137,712 $205,905 $285,522 $376,365
TOTAL SHAREHOLDERS' EQUITY $10,000,000 $10,034,571 $10,081,137 $10,137,712 $10,205,905 $10,285,522 $10,376,365
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $10,000,000 $10,034,571 $10,081,137 $10,137,712 $10,205,905 $10,285,522 $10,376,365

check (A-(L+E)) $0 $0 $0 $0 $0 $0 $0
BALANCE SHEET Mo. 7 Mo. 8 Mo. 9 Mo. 10 Mo. 11 Mo. 12 Year 1
ASSETS
Cash $3,904,251 $3,159,855 $2,444,089 $1,757,094 $1,099,018 $468,931 $468,931
Loans Receivable
Low $646,282 $730,672 $813,010 $893,275 $971,441 $1,047,486 $1,047,486
Mid $975,904 $1,104,237 $1,229,670 $1,352,159 $1,471,658 $1,588,121 $1,588,121
MidHigh $1,636,671 $1,853,321 $2,065,428 $2,272,900 $2,475,649 $2,673,581 $2,673,581
High $3,292,405 $3,730,929 $4,160,925 $4,582,190 $4,994,517 $5,397,693 $5,397,693
Total Loans Receivable $6,551,262 $7,419,160 $8,269,033 $9,100,524 $9,913,265 $10,706,882 $10,706,882
Loan Loss Reserve
Low ($7,000) ($8,000) ($9,000) ($10,000) ($11,000) ($12,000) ($12,000)
Mid ($10,500) ($12,000) ($13,500) ($15,000) ($16,500) ($18,000) ($18,000)
MidHigh ($17,500) ($20,000) ($22,500) ($25,000) ($27,500) ($30,000) ($30,000)
High ($35,000) ($40,000) ($45,000) ($50,000) ($55,000) ($60,000) ($60,000)
Total Loan Loss Reserve ($70,000) ($80,000) ($90,000) ($100,000) ($110,000) ($120,000) ($120,000)
Net Loans Receivable
Low $639,282 $722,672 $804,010 $883,275 $960,441 $1,035,486 $1,035,486
Mid $965,404 $1,092,237 $1,216,170 $1,337,159 $1,455,158 $1,570,121 $1,570,121
MidHigh $1,619,171 $1,833,321 $2,042,928 $2,247,900 $2,448,149 $2,643,581 $2,643,581
High $3,257,405 $3,690,929 $4,115,925 $4,532,190 $4,939,517 $5,337,693 $5,337,693
Total Net Loans Receivable $6,481,262 $7,339,160 $8,179,033 $9,000,524 $9,803,265 $10,586,882 $10,586,882
Property & Equip. $98,462 $98,462 $98,462 $98,462 $98,462 $98,462 $98,462
(Accumulated Depreciation) ($5,744) ($6,564) ($7,385) ($8,205) ($9,026) ($9,846) ($9,846)
Net Property & Equip $92,718 $91,898 $91,077 $90,257 $89,436 $88,616 $88,616
TOTAL NONCASH ASSETS $6,573,980 $7,431,057 $8,270,110 $9,090,780 $9,892,701 $10,675,497 $10,675,497
TOTAL ASSETS $10,478,231 $10,590,913 $10,714,199 $10,847,874 $10,991,719 $11,144,428 $11,144,428

LIABILITIES
CURRENT LIABILITIES
Accounts Payable & Accrued Expenses $0
Other Current Liabilities $0
Line of Credit $0
TOTAL CURRENT LIABILITIES $0 $0 $0 $0 $0 $0 $0
LONG TERM DEBT $0 $0 $0 $0 $0 $0 $0
TOTAL LIABILITIES $0 $0 $0 $0 $0 $0 $0
SHAREHOLDERS' EQUITY
Common Stock $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Preferred Stock $0 $0 $0 $0 $0 $0 $0
Owner Distributions $0 $0 $0 $0 $0 $0 $0
Retained Earnings $478,231 $590,913 $714,199 $847,874 $991,719 $1,144,428 $1,144,428
TOTAL SHAREHOLDERS' EQUITY $10,478,231 $10,590,913 $10,714,199 $10,847,874 $10,991,719 $11,144,428 $11,144,428
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $10,478,231 $10,590,913 $10,714,199 $10,847,874 $10,991,719 $11,144,428 $11,144,428

check (A-(L+E)) $0 $0 $0 $0 $0 $0 $0
BALANCE SHEET Year 2
ASSETS
Cash $553,072
Loans Receivable
Low $1,151,081
Mid $1,800,359
MidHigh $3,100,830
High $6,380,659
Total Loans Receivable $12,432,929
Loan Loss Reserve
Low ($16,700)
Mid ($25,400)
MidHigh ($42,700)
High ($85,900)
Total Loan Loss Reserve ($170,700)
Net Loans Receivable
Low $1,134,381
Mid $1,774,959
MidHigh $3,058,130
High $6,294,759
Total Net Loans Receivable $12,262,229
Property & Equip. $98,462
(Accumulated Depreciation) ($19,692)
Net Property & Equip $78,769
TOTAL NONCASH ASSETS $12,340,998
TOTAL ASSETS $12,894,070

LIABILITIES
CURRENT LIABILITIES
Accounts Payable & Accrued Expenses $0
Other Current Liabilities $0
Line of Credit $0
TOTAL CURRENT LIABILITIES $0
LONG TERM DEBT $0
TOTAL LIABILITIES $0
SHAREHOLDERS' EQUITY
Common Stock $10,000,000
Preferred Stock $0
Owner Distributions $0
Retained Earnings $2,894,070
TOTAL SHAREHOLDERS' EQUITY $12,894,070
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $12,894,070

check (A-(L+E)) $0
BALANCE SHEET Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
ASSETS
Cash $810,308 $957,052 $1,047,816 $1,272,420 $1,484,665 $1,738,485 $2,065,387
Loans Receivable
Low $1,302,157 $1,544,836 $1,826,536 $2,154,944 $2,540,672 $2,997,602 $3,545,352
Mid $2,052,120 $2,437,435 $2,834,309 $3,336,734 $3,944,616 $4,668,155 $5,508,916
MidHigh $3,594,387 $4,214,359 $4,964,758 $5,814,403 $6,844,141 $8,048,638 $9,455,653
High $7,441,732 $8,702,291 $10,233,461 $11,988,329 $14,081,632 $16,545,078 $19,474,207
Total Loans Receivable $14,390,395 $16,898,921 $19,859,064 $23,294,410 $27,411,061 $32,259,474 $37,984,129
Loan Loss Reserve
Low ($23,800) ($28,100) ($30,600) ($37,800) ($44,500) ($51,700) ($61,700)
Mid ($36,300) ($43,200) ($46,700) ($57,200) ($67,400) ($78,600) ($93,700)
MidHigh ($61,500) ($73,100) ($79,800) ($97,600) ($114,500) ($132,900) ($157,500)
High ($123,900) ($147,700) ($161,200) ($196,800) ($230,500) ($267,300) ($317,000)
Total Loan Loss Reserve ($245,500) ($292,100) ($318,300) ($389,400) ($456,900) ($530,500) ($629,900)
Net Loans Receivable
Low $1,278,357 $1,516,736 $1,795,936 $2,117,144 $2,496,172 $2,945,902 $3,483,652
Mid $2,015,820 $2,394,235 $2,787,609 $3,279,534 $3,877,216 $4,589,555 $5,415,216
MidHigh $3,532,887 $4,141,259 $4,884,958 $5,716,803 $6,729,641 $7,915,738 $9,298,153
High $7,317,832 $8,554,591 $10,072,261 $11,791,529 $13,851,132 $16,277,778 $19,157,207
Total Net Loans Receivable $14,144,895 $16,606,821 $19,540,764 $22,905,010 $26,954,161 $31,728,974 $37,354,229
Property & Equip. $98,462 $98,462 $98,462 $98,462 $98,462 $98,462 $98,462
(Accumulated Depreciation) ($29,539) ($39,385) ($49,231) ($59,077) ($68,923) ($78,769) ($88,616)
Net Property & Equip $68,923 $59,077 $49,231 $39,385 $29,539 $19,692 $9,846
TOTAL NONCASH ASSETS $14,213,818 $16,665,898 $19,589,995 $22,944,395 $26,983,700 $31,748,666 $37,364,075
TOTAL ASSETS $15,024,127 $17,622,950 $20,637,811 $24,216,815 $28,468,365 $33,487,151 $39,429,462

LIABILITIES
CURRENT LIABILITIES
Accounts Payable & Accrued Expenses $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0
Line of Credit $0 $0 $0 $0 $0 $0 $0
TOTAL CURRENT LIABILITIES $0 $0 $0 $0 $0 $0 $0
LONG TERM DEBT $0 $0 $0 $0 $0 $0 $0
TOTAL LIABILITIES $0 $0 $0 $0 $0 $0 $0
SHAREHOLDERS' EQUITY
Common Stock $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000 $10,000,000
Preferred Stock $0 $0 $0 $0 $0 $0 $0
Owner Distributions $0 $0 $0 $0 $0 $0 $0
Retained Earnings $5,024,127 $7,622,950 $10,637,811 $14,216,815 $18,468,365 $23,487,151 $29,429,462
TOTAL SHAREHOLDERS' EQUITY $15,024,127 $17,622,950 $20,637,811 $24,216,815 $28,468,365 $33,487,151 $39,429,462
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $15,024,127 $17,622,950 $20,637,811 $24,216,815 $28,468,365 $33,487,151 $39,429,462

check (A-(L+E)) $0 $0 $0 $0 $0 $0 $0
BALANCE SHEET Year 10
ASSETS
Cash $2,415,941
Loans Receivable
Low $4,195,624
Mid $6,513,425
MidHigh $11,155,087
High $22,931,263
Total Loans Receivable $44,795,398
Loan Loss Reserve
Low ($72,900)
Mid ($110,600)
MidHigh ($185,300)
High ($372,800)
Total Loan Loss Reserve ($741,600)
Net Loans Receivable
Low $4,122,724
Mid $6,402,825
MidHigh $10,969,787
High $22,558,463
Total Net Loans Receivable $44,053,798
Property & Equip. $98,462
(Accumulated Depreciation) ($98,462)
Net Property & Equip $0
TOTAL NONCASH ASSETS $44,053,798
TOTAL ASSETS $46,469,739

LIABILITIES
CURRENT LIABILITIES
Accounts Payable & Accrued Expenses $0
Other Current Liabilities $0
Line of Credit $0
TOTAL CURRENT LIABILITIES $0
LONG TERM DEBT $0
TOTAL LIABILITIES $0
SHAREHOLDERS' EQUITY
Common Stock $10,000,000
Preferred Stock $0
Owner Distributions $0
Retained Earnings $36,469,739
TOTAL SHAREHOLDERS' EQUITY $46,469,739
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $46,469,739

check (A-(L+E)) $0
CASH FLOW STATEMENT Mo. 0 Year 1
OPERATING ACTIVITIES
Net Earnings $1,144,428
Depreciation $9,846
Net Loan (Outflow)/Inflow
Low ($1,035,486)
Mid ($1,570,121)
MidHigh ($2,643,581)
High ($5,337,693)
Total Cash from Loan (Outflow)/Inflow ($10,586,882)
Increase/(Decrease) Accounts Payable & Accrued Expenses $0
Increase/(Decrease) Other Current Liabilities $0
NET CASH PROVIDED/(USED) BY OPERATING ACTIVITIES ($9,432,608)

INVESTING ACTIVITIES
(Increase)/Decrease Property & Equipment ($98,462)
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES ($98,462)

FINANCING ACTIVITIES
Increase/(Decrease) Line of Credit $0
Increase/(Decrease) Long Term Debt $0
Increase/(Decrease) Common Stock $10,000,000 $0
Increase/(Decrease) Preferred Stock $0 $0
Dividends to Shareholders $0
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES $10,000,000 $0

INCREASE/(DECREASE) IN CASH $10,000,000 ($9,531,069)

Operational Cash at beginning of period $10,000,000

Operational Cash at end of period $10,000,000 $468,931
BALANCE SHEET CHANGE IN CASH $10,000,000 ($9,531,069)

check 0 0
CASH FLOW STATEMENT Year 2
OPERATING ACTIVITIES
Net Earnings $1,749,642
Depreciation $9,846
Net Loan (Outflow)/Inflow
Low ($98,894)
Mid ($204,838)
MidHigh ($414,549)
High ($957,066)
Total Cash from Loan (Outflow)/Inflow ($1,675,347)
Increase/(Decrease) Accounts Payable & Accrued Expenses $0
Increase/(Decrease) Other Current Liabilities $0
NET CASH PROVIDED/(USED) BY OPERATING ACTIVITIES $84,141

INVESTING ACTIVITIES
(Increase)/Decrease Property & Equipment $0
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES $0

FINANCING ACTIVITIES
Increase/(Decrease) Line of Credit $0
Increase/(Decrease) Long Term Debt $0
Increase/(Decrease) Common Stock $0
Increase/(Decrease) Preferred Stock $0
Dividends to Shareholders $0
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES $0

INCREASE/(DECREASE) IN CASH $84,141

Operational Cash at beginning of period $468,931

Operational Cash at end of period $553,072
BALANCE SHEET CHANGE IN CASH $84,141

check 0
CASH FLOW STATEMENT Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
OPERATING ACTIVITIES
Net Earnings $2,130,057 $2,598,824 $3,014,861 $3,579,003 $4,251,550 $5,018,786
Depreciation $9,846 $9,846 $9,846 $9,846 $9,846 $9,846
Net Loan (Outflow)/Inflow
Low ($143,976) ($238,379) ($279,200) ($321,208) ($379,028) ($449,730)
Mid ($240,861) ($378,415) ($393,373) ($491,926) ($597,681) ($712,339)
MidHigh ($474,757) ($608,372) ($743,699) ($831,845) ($1,012,838) ($1,186,097)
High ($1,023,073) ($1,236,759) ($1,517,670) ($1,719,268) ($2,059,603) ($2,426,646)
Total Cash from Loan (Outflow)/Inflow ($1,882,667) ($2,461,926) ($2,933,943) ($3,364,246) ($4,049,151) ($4,774,812)
Increase/(Decrease) Accounts Payable & Accrued Expenses $0 $0 $0 $0 $0 $0
Increase/(Decrease) Other Current Liabilities $0 $0 $0 $0 $0 $0
NET CASH PROVIDED/(USED) BY OPERATING ACTIVITIES $257,237 $146,744 $90,764 $224,603 $212,245 $253,820

INVESTING ACTIVITIES
(Increase)/Decrease Property & Equipment $0 $0 $0 $0 $0 $0
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES $0 $0 $0 $0 $0 $0

FINANCING ACTIVITIES
Increase/(Decrease) Line of Credit $0 $0 $0 $0 $0 $0
Increase/(Decrease) Long Term Debt $0 $0 $0 $0 $0 $0
Increase/(Decrease) Common Stock $0 $0 $0 $0 $0 $0
Increase/(Decrease) Preferred Stock $0 $0 $0 $0 $0 $0
Dividends to Shareholders $0 $0 $0 $0 $0 $0
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES $0 $0 $0 $0 $0 $0

INCREASE/(DECREASE) IN CASH $257,237 $146,744 $90,764 $224,603 $212,245 $253,820

Operational Cash at beginning of period $553,072 $810,308 $957,052 $1,047,816 $1,272,420 $1,484,665
Operational Cash at end of period $810,308 $957,052 $1,047,816 $1,272,420 $1,484,665 $1,738,485
BALANCE SHEET CHANGE IN CASH $257,237 $146,744 $90,764 $224,603 $212,245 $253,820

check 0 0 0 (0) 0 0
CASH FLOW STATEMENT Year 9 Year 10
OPERATING ACTIVITIES
Net Earnings $5,942,311 $7,040,277
Depreciation $9,846 $9,846
Net Loan (Outflow)/Inflow
Low ($537,750) ($639,071)
Mid ($825,661) ($987,609)
MidHigh ($1,382,415) ($1,671,634)
High ($2,879,429) ($3,401,255)
Total Cash from Loan (Outflow)/Inflow ($5,625,255) ($6,699,569)
Increase/(Decrease) Accounts Payable & Accrued Expenses $0 $0
Increase/(Decrease) Other Current Liabilities $0 $0
NET CASH PROVIDED/(USED) BY OPERATING ACTIVITIES $326,902 $350,554

INVESTING ACTIVITIES
(Increase)/Decrease Property & Equipment $0 $0
NET CASH PROVIDED/(USED) BY INVESTING ACTIVITIES $0 $0

FINANCING ACTIVITIES
Increase/(Decrease) Line of Credit $0 $0
Increase/(Decrease) Long Term Debt $0 $0
Increase/(Decrease) Common Stock $0 $0
Increase/(Decrease) Preferred Stock $0 $0
Dividends to Shareholders $0 $0
NET CASH PROVIDED/(USED) BY FINANCING ACTIVITIES $0 $0

INCREASE/(DECREASE) IN CASH $326,902 $350,554

Operational Cash at beginning of period $1,738,485 $2,065,387

Operational Cash at end of period $2,065,387 $2,415,941
BALANCE SHEET CHANGE IN CASH $326,902 $350,554

check (0) 0