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┬áVusion – Income Statement

FYE 6/30/00 FYE 6/30/01
1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total
Units Sold
Systems 0 0 0 0 0 0 0 20 30
Aggregate Systems 0 0 0 0 0 0 0 20 50 50
Chips 0 0 0 0 0 0 0 232 820 1,052
Revenue
System Royalties (from OEM) 0 0 0 0 0 0% 0 0 96,000 144,000 240,000 5%
Sensor Chips 0 0 0 0 0 0% 0 0 58,083 205,000 263,083 5%
Contract and Grants 0 0 300,000 0 300,000 100% 1,875,000 0 2,875,000 0 4,750,000 90%
Total Revenue 0 0 300,000 0 300,000 100% 1,875,000 0 3,029,083 349,000 5,253,083 100%
Cost of Sales
Sensor Chips 0 0 0 0 0 0% 0 0 278,419 315,289 593,708 11%
Contract and Grants 0 0 0 0 0 0% 1,687,500 0 1,687,500 0 3,375,000 64%
Gross Margin 0 0 300,000 0 300,000 100% 187,500 0 1,063,164 33,711 1,284,375 24%
Operating Expenses
Royalty to University 0 0 0 0 0 0% 0 0 12,327 87,673 100,000 2%
Research & Development 30,000 30,000 52,357 169,880 282,238 94% 417,923 618,476 550,176 683,067 2,269,642 43%
Sales & Marketing 0 0 94,804 94,804 189,608 63% 140,155 160,155 280,802 326,767 907,879 17%
General & Admin. 107,017 189,658 199,497 204,417 700,589 234% 277,129 302,044 391,361 395,259 1,365,793 26%
Sponsored Research 450,000 0 300,000 0 750,000 250% 450,000 0 300,000 0 750,000 14%
Total Operating Expenses 587,017 219,658 646,659 469,101 1,922,435 641% 1,285,208 1,080,675 1,534,665 1,492,767 5,393,314 103%
EBIT (587,017) (219,658) (346,659) (469,101) (1,622,435) -541% (1,097,708) (1,080,675) (471,501) (1,459,056) (4,108,939) -78%
Interest Expense (67) (128) (5,713) (8,161) (14,069) -5% (7,988) (7,642) (8,409) (9,879) (33,919) -1%
EBT (587,084) (219,786) (352,372) (477,262) (1,636,504) -546% (1,105,695) (1,088,317) (479,910) (1,468,935) (4,142,858) -79%
Income taxes 0 0 0 0 0 0% 0 0 0 0 0 0%
Net Income (Loss) (587,084) (219,786) (352,372) (477,262) (1,636,504) -546% (1,105,695) (1,088,317) (479,910) (1,468,935) (4,142,858) -79%

 

FYE 6/30/02 FYE 6/30/03 FYE 6/30/04 FYE 6/30/05
1Q 2Q 3Q 4Q Total
Units Sold
Systems 30 34 41 45 300 600 1,000
Aggregate Systems 80 114 155 200 200 500 1,100 2,100
Chips 1,435 2,091 2,877 3,793 10,195 41,000 90,200 172,200
Revenue
System Royalties (from OEM) 144,000 163,200 196,800 216,000 720,000 4% 1,440,000 6% 2,880,000 8% 4,800,000 8%
Sensor Chips 358,750 522,750 719,208 948,125 2,548,833 16% 10,250,000 42% 22,550,000 59% 43,050,000 76%
Contract and Grants 6,375,000 0 6,375,000 0 12,750,000 80% 12,750,000 52% 12,750,000 33% 9,000,000 16%
Total Revenue 6,877,750 685,950 7,291,008 1,164,125 16,018,833 100% 24~440,000 100% 38,180,000 100% 56,850,000 100%
Cost of Sales
Sensor Chips 500,887 513,655 582,758 631,239 2,228,540 14% 3,970,336 16% 6,594,013 17% 12,077,381 21%
Contract and Grants 5,737,500 0 5,737,500 0 11,475,000 72% 11,475,000 47% 11,475,000 30% 8,100,000 14%
Gross Margin 639,363 172,295 970,750 532,886 2,315,294 14% 8,994,664 37% 20,110,987 53% 36,672,619 65%
Operating Expenses
Royalty to University 40,220 54,876 73,281 93,130 261,507 2% 935,200 4% 2,034,400 5% 3,828,000 7%
Research & Development 639,866 639,866 691,755 691,755 2,663,241 17% 3,962,692 16% 4,577,657 12% 5,785,086 10%
Sales & Marketing 443,273 483,523 495,802 510,109 1,9329706 12% 3,553,993 15% 5,997,858 16% 10,514,054 18%
General & Admin. 444,926 448,590 453,191 458,153 1,804,860 11% 2,021,454 8% 2,357,924 6% 2,873,176 5%
Sponsored Research 0 0 0 0 0 0% 0 0% 0 0% 0 0%
Total Operating Expenses 1,568,284 1,626,854 1,714,028 1,753,147 6,662,313 42% 10,473,339 43% 14,967,839 39% 23,000,316 40%
EBIT (928,922) (1,454,560) (743,277) (1,220,261) (4,347,020) -27% (1,478,675) -6% 5,143,149 13% 13,672,303 24%
Interest Expense (18,113) (19,849) (20,974) (22,362) (81,298) -1% (145,205) -1% (201,687) -1% (194,722) 0%
EBT (947,035) (1,474,409) (764,251) (1,242,623) (4,428,318) -28% (1,623,880) -7% 4,941,461 13% 13,477,581 24%
Income taxes 0 0 0 0 0 0% 0 0% 0 0% 2,634,993 5%
Net Income (Loss) (947,035) (1,474,409) (764,251) (1,242,623) (4,428,318) -28% (1,623,880) -7% 4,941,461 13% 10,842,588 19%

Vusion, Inc.
Table of Contents Appendices
0. Executive Summary
1. The Problem
2. The Solution
3. Vusion Provides the Solution
4. Market Analysis
5. Marketing Strategy
6. Manufacturing Strategy
Financial Model: Assumptions
Income Statement
Balance Sheet
Statement of Cashflow
Resumes
All information herein is confidential and belongs to Vusion, Inc.

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