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Confidentiality Agreement
The undersigned reader acknowledges that the information provided by _______________ in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of _______________. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _______________. Upon request, this document is to be immediately returned to _______________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Keys to Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 3 3
2.0
Company Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.1 Company Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.2 Start-up Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Market Analysis Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 Market Segmentation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 Target Market Segment Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 Industry Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3.1 Competition and Buying Patterns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Strategy and Implementation Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.1 Competitive Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2 Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 Sales Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3.1 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.4 Milestones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Web Plan Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1 Website Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2 Development Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 6 7 8 8 8 9 9 9 10 11 12 12 13
3.0 4.0
5.0
6.0
7.0 8.0
Management Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 7.1 Personnel Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.1 Important Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.2 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 Projected Profit and Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.4 Projected Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.5 Projected Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6 Business Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 14 15 16 19 21 21
Highlights
$500,000 $400,000 $300,000 $200,000 $100,000 $0 ($100,000) ($200,000) 2003 2004 2005
1.1 Objectives
Increase sales by triple for the first two years. Achieve 20% market penetration by year four. Assist more than 10,000 different individuals with development disabilities.
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Start-up
$250,000
$200,000
$150,000
$100,000
$50,000
3.0 Products
FoodFun LIS' flagship product is a software package designed for non-readers, generally individuals with autism and developmental disabilities, and other people with developmental disabilities. Most transition/lifeskills training programs focus on four key areas of life: food/cooking/nutrition, money management, health/safety, and social interaction/leisure. FoodFun's product focuses on food/cooking as well as social interaction, two of the primary lifeskills needed for independent living. Non-readers rely on visual images as a form of communication, a replacement for the more typical text that readers are able to understand. The first component of the software is a digital cookbook of recipes. The software displays pictures of the different ingredients needed for the recipe. The pictures are then printed allowing the individual to take the picture to the grocery store facilitating the purchasing of the groceries. On each picture is also text explaining what the item is. Within each recipe is the ability to print the different utensils and pots needed to complete the item. While the recipes are meant to be cooked with support, the main goal is to allow the individual to have independent shopping. The user first sees a bunch of different pictures of food dishes with names below the pictures. The user then chooses a dish and is brought to a screen where the ingredients are listed by picture and also the different utensils/pots/pans needed are listed. Once the user chooses what they want to prepare they can then print up a list of the different ingredients. The list is picture based (with text) and they are able to take the picture list to the grocery to assist them in purchasing the ingredients independently. The second component of the software is the social occasion/party planning module. This is the fun part (in addition to the fun food pictures). Everyone likes to plan for party. The screen opens with pictures showing different occassions such as a picnic in the park, friends and movie night, birthday party, holiday event, pool party, etc. When the user clicks on the chosen image they hear 30 seconds of background music in a theme matched to the event that they have chosen. Once they have chosen the event the software takes them through Page 5
Table: Market Analysis Market Analysis Potential Customers Centers for Independent Living School Districts Proactive Parents Agencies Total
Growth 6% 5% 8% 6% 7.93%
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Table: Sales Forecast Sales Forecast Sales Centers for Independent Living School Districts Proactive Parents Agencies Total Sales Direct Cost of Sales Centers for Independent Living School Districts Proactive Parents Agencies Subtotal Direct Cost of Sales
2003 $23,439 $43,405 $9,983 $19,966 $96,793 2003 $1,641 $3,038 $699 $1,398 $6,776
2004 $96,957 $179,550 $41,297 $82,593 $400,397 2004 $6,787 $12,569 $2,891 $5,782 $28,028
2005 $118,616 $219,660 $50,522 $101,044 $489,842 2005 $8,303 $15,376 $3,537 $7,073 $34,289
Sales Monthly
$20,000 $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0
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Sales by Year
$500,000 $400,000
5.4 Milestones
FoodFun LIS has several milestones, presented in the following table and chart, which will be instrumental in the success of the organization.
Table: Milestones Milestones Milestone Business plan completion Beta version completed Organizational hiring complete Public release of software Profitability Totals
Budget
$0
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Milestones
Profitability
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
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Table: General Assumptions General Assumptions Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Sales on Credit % Other Calculated Totals Payroll Expense Sales on Credit New Accounts Payable Inventory Purchase 2003 1 10.00% 10.00% 30.00% 75.00% 0.00% $167,000 $72,595 $84,234 $10,000 2004 2 10.00% 10.00% 30.00% 75.00% 0.00% $225,200 $300,297 $133,165 $38,142 2005 3 10.00% 10.00% 30.00% 75.00% 0.00% $229,200 $367,381 $156,731 $37,269
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Table: Break-even Analysis Break-even Analysis: Monthly Units Break-even Monthly Revenue Break-even Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost
268 $26,767
Break-even Analysis
$20,000 $10,000 $0 ($10,000) ($20,000) ($30,000) $0 $8,000 $16,000 $24,000 $32,000 $40,000
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Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Costs of Goods Other Costs of Goods Cost of Goods Sold Gross Margin Gross Margin % Expenses: Payroll Sales and Marketing and Other Expenses Depreciation Rent Utilities Insurance Payroll Taxes Programming Total Operating Expenses Profit Before Interest and Taxes Interest Expense Taxes Incurred Net Profit Net Profit/Sales Include Negative Taxes 2003 $96,793 $6,776 $0 -----------$6,776 $90,018 93.00% $167,000 $6,600 $1,800 $10,450 $5,500 $5,500 $25,050 $12,000 -----------$233,900 ($143,882) $9,134 $0 ($153,017) -158.09% FALSE 2004 $400,397 $28,028 $0 -----------$28,028 $372,369 93.00% $225,200 $7,200 $1,800 $11,400 $6,000 $5,500 $33,780 $0 -----------$290,880 $81,489 $9,566 $21,577 $50,346 12.57% TRUE 2005 $489,842 $34,289 $0 -----------$34,289 $455,553 93.00% $229,200 $7,200 $1,800 $11,400 $6,000 $5,500 $34,380 $0 -----------$295,480 $160,073 $9,943 $45,039 $105,091 21.45% TRUE
Profit Monthly
$0 ($5,000) ($10,000) ($15,000) ($20,000) ($25,000) ($30,000) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Profit Yearly
$150,000 $100,000 $50,000 $0 ($50,000) ($100,000) ($150,000) ($200,000) 2003 2004 2005
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$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2003 2004 2005
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Cash
$250,000 $200,000 $150,000 $100,000 $50,000 $0 ($50,000) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Table: Balance Sheet Pro Forma Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth 2003 $6,038 $0 $0 $6,038 $83,773 $89,811 $145,000 ($22,500) ($153,017) ($30,517) $59,295 ($30,517) 2004 $24,977 $0 $0 $24,977 $107,546 $132,524 $145,000 ($175,517) $50,346 $19,829 $152,353 $19,829 2005 $30,557 $0 $0 $30,557 $91,319 $121,876 $145,000 ($125,171) $105,091 $124,920 $246,796 $124,920
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45.41% 5.44% 0.00% 87.86% 12.14% 100.00% 10.18% 141.28% 151.47% -51.47%
73.11% 8.75% 0.00% 96.46% 3.54% 100.00% 16.39% 70.59% 86.98% 13.02%
55.22% 6.61% 0.00% 98.54% 1.46% 100.00% 12.38% 37.00% 49.38% 50.62%
29.71% 39.18% 19.28% 88.17% 11.83% 100.00% 43.83% 9.87% 53.70% 46.30%
n.a n.a
0.00 0.07
6.68 0.19
0.98 0.25
n.a n.a
$46,056 -15.75
$121,975 8.52
$212,639 16.10
n.a n.a
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Appendix
Appendix Table: Sales Forecast Sales Forecast Sales Centers for Independent Living School Districts Proactive Parents Agencies Total Sales Direct Cost of Sales Centers for Independent Living School Districts Proactive Parents Agencies Subtotal Direct Cost of Sales
Jan $0 $0 $0 $0 $0 Jan $0 $0 $0 $0 $0
Feb $0 $0 $0 $0 $0 Feb $0 $0 $0 $0 $0
Mar $0 $0 $0 $0 $0 Mar $0 $0 $0 $0 $0
Apr $0 $0 $0 $0 $0 Apr $0 $0 $0 $0 $0
May $540 $1,000 $230 $460 $2,230 May $38 $70 $16 $32 $156
Jun $1,350 $2,500 $575 $1,150 $5,575 Jun $95 $175 $40 $81 $390
Jul $1,944 $3,600 $828 $1,656 $8,028 Jul $136 $252 $58 $116 $562
Aug $2,970 $5,500 $1,265 $2,530 $12,265 Aug $208 $385 $89 $177 $859
Sep $3,918 $7,255 $1,669 $3,337 $16,179 Sep $274 $508 $117 $234 $1,133
Oct $4,023 $7,450 $1,714 $3,427 $16,614 Oct $282 $522 $120 $240 $1,163
Nov $4,266 $7,900 $1,817 $3,634 $17,617 Nov $299 $553 $127 $254 $1,233
Dec $4,428 $8,200 $1,886 $3,772 $18,286 Dec $310 $574 $132 $264 $1,280
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Appendix
Appendix Table: Personnel Personnel Plan Sue Accounting Software Documentation Product Development Customer Service/ Tech Support Customer Service/ Tech Support Marketing/ Sales Marketing/ Sales Total People Total Payroll Jan $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Feb $2,000 $0 $0 $0 $0 $0 $0 $0 1 $2,000 Mar $2,000 $0 $0 $0 $0 $0 $0 $0 1 $2,000 Apr $2,000 $1,800 $2,200 $0 $2,200 $2,200 $3,000 $3,000 7 $16,400 May $2,000 $1,800 $2,200 $0 $2,200 $2,200 $3,000 $3,000 7 $16,400 Jun $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Jul $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Aug $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Sep $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Oct $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Nov $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600 Dec $2,000 $1,800 $2,200 $2,200 $2,200 $2,200 $3,000 $3,000 8 $18,600
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Appendix
Appendix Table: General Assumptions General Assumptions Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Sales on Credit % Other Calculated Totals Payroll Expense Sales on Credit New Accounts Payable Inventory Purchase Jan 1 10.00% 10.00% 30.00% 75.00% 0.00% $0 $0 $3,823 $0 Feb 2 10.00% 10.00% 30.00% 75.00% 0.00% $2,000 $0 $6,662 $0 Mar 3 10.00% 10.00% 30.00% 75.00% 0.00% $2,000 $0 $6,651 $0 Apr 4 10.00% 10.00% 30.00% 75.00% 0.00% $16,400 $0 $18,800 $10,000 May 5 10.00% 10.00% 30.00% 75.00% 0.00% $16,400 $1,673 $5,789 $0 Jun 6 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $4,181 $6,107 $0 Jul 7 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $6,021 $6,096 ($0) Aug 8 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $9,199 $6,085 $0 Sep 9 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $12,134 $6,073 $0 Oct 10 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $12,460 $6,062 $0 Nov 11 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $13,213 $6,050 $0 Dec 12 10.00% 10.00% 30.00% 75.00% 0.00% $18,600 $13,715 $6,038 $0
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Appendix
Appendix Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Costs of Goods Other Costs of Goods Cost of Goods Sold Gross Margin Gross Margin % Expenses: Payroll Sales and Marketing and Other Expenses Depreciation Rent Utilities Insurance Payroll Taxes Programming Total Operating Expenses Profit Before Interest and Taxes Interest Expense Taxes Incurred Net Profit Net Profit/Sales Include Negative Taxes Jan $0 $0 $0 -----------$0 $0 0.00% $0 $0 $150 $0 $0 $0 $0 $3,000 -----------$3,150 ($3,150) $823 $0 ($3,973) 0.00% Feb $0 $0 $0 -----------$0 $0 0.00% $2,000 $600 $150 $950 $500 $500 $300 $3,000 -----------$8,000 ($8,000) $812 $0 ($8,812) 0.00% Mar $0 $0 $0 -----------$0 $0 0.00% $2,000 $600 $150 $950 $500 $500 $300 $3,000 -----------$8,000 ($8,000) $801 $0 ($8,801) 0.00% Apr $0 $0 $0 -----------$0 $0 0.00% $16,400 $600 $150 $950 $500 $500 $2,460 $3,000 -----------$24,560 ($24,560) $790 $0 ($25,350) 0.00% May $2,230 $156 $0 -----------$156 $2,074 93.00% $16,400 $600 $150 $950 $500 $500 $2,460 $0 -----------$21,560 ($19,486) $779 $0 ($20,265) -908.73% Jun $5,575 $390 $0 -----------$390 $5,185 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($18,905) $767 $0 ($19,673) -352.87% Jul $8,028 $562 $0 -----------$562 $7,466 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($16,624) $756 $0 ($17,380) -216.49% Aug $12,265 $859 $0 -----------$859 $11,406 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($12,684) $745 $0 ($13,428) -109.48% Sep $16,179 $1,133 $0 -----------$1,133 $15,046 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($9,044) $733 $0 ($9,777) -60.43% Oct $16,614 $1,163 $0 -----------$1,163 $15,451 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($8,639) $722 $0 ($9,361) -56.35% Nov $17,617 $1,233 $0 -----------$1,233 $16,384 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($7,706) $710 $0 ($8,416) -47.77% Dec $18,286 $1,280 $0 -----------$1,280 $17,006 93.00% $18,600 $600 $150 $950 $500 $500 $2,790 $0 -----------$24,090 ($7,084) $698 $0 ($7,782) -42.56%
15%
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Appendix
Appendix Table: Cash Flow Pro Forma Cash Flow Cash Received Cash from Operations: Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Non Operating (Other) Income Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations: Cash Spending Payment of Accounts Payable Subtotal Spent on Operations Additional Cash Spent Non Operating (Other) Expense Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$558 $0 $558
$1,394 $0 $1,394
0.00%
$0 $0 $0 $0 $0 $0 $0 $0 $0 Jan $0 $0 $0
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Appendix
Appendix Table: Balance Sheet Pro Forma Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth $0 $0 $0 $0 $100,000 $100,000 $145,000 ($22,500) $0 $122,500 $222,500 $122,500 Jan $3,823 $0 $0 $3,823 $98,709 $102,531 $145,000 ($22,500) ($3,973) $118,527 $221,059 $118,527 Feb $6,662 $0 $0 $6,662 $97,406 $104,068 $145,000 ($22,500) ($12,784) $109,716 $213,784 $109,716 Mar $6,651 $0 $0 $6,651 $96,094 $102,744 $145,000 ($22,500) ($21,585) $100,915 $203,659 $100,915 Apr $18,800 $0 $0 $18,800 $94,770 $113,569 $145,000 ($22,500) ($46,935) $75,565 $189,135 $75,565 May $5,789 $0 $0 $5,789 $93,435 $99,223 $145,000 ($22,500) ($67,200) $55,300 $154,524 $55,300 Jun $6,107 $0 $0 $6,107 $92,089 $98,196 $145,000 ($22,500) ($86,872) $35,628 $133,824 $35,628 Jul $6,096 $0 $0 $6,096 $90,731 $96,827 $145,000 ($22,500) ($104,252) $18,248 $115,075 $18,248 Aug $6,085 $0 $0 $6,085 $89,363 $95,447 $145,000 ($22,500) ($117,680) $4,820 $100,267 $4,820 Sep $6,073 $0 $0 $6,073 $87,983 $94,056 $145,000 ($22,500) ($127,458) ($4,958) $89,098 ($4,958) Oct $6,062 $0 $0 $6,062 $86,591 $92,653 $145,000 ($22,500) ($136,819) ($14,319) $78,334 ($14,319) Nov $6,050 $0 $0 $6,050 $85,188 $91,238 $145,000 ($22,500) ($145,235) ($22,735) $68,503 ($22,735) Dec $6,038 $0 $0 $6,038 $83,773 $89,811 $145,000 ($22,500) ($153,017) ($30,517) $59,295 ($30,517)
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