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ePower Systems
Monthly Financials

Monthly Income Statement

1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Revenues
Subscriber Revenues - - - - - - - - - - - -
Variable Revenues - - - - - - - - - - - -
Total Revenues - - - - - - - - - - - -
Operating Expenses
Bank Fee - - - - - 50 50 50 50 50 50 50
Technical Staff - - - - - 25,000 31,250 37,500 43,750 50,000 56,250 62,500
SG&A - - - - - 46,667 46,667 50,000 53,333 56,667 58,750 60,417
Rent - - - - - - - - - - - -
Consulting & Legal - - - - - 60,000 60,000 60,000 60,000 60,000 60,000 60,000
Depreciation - 171 176 176 176 1,334 2,491 3,649 4,806 5,963 7,121 8,278
Total Expenses - 171 176 176 176 133,050 140,458 151,199 161,939 172,680 182,171 191,245
EBIT - (171) (176) (176) (176) (133,050) (140,458) (151,199) (161,939) (172,680) (182,171) (191,245)
Interest Income - - - - - - - - - - - -
Interest Expense - - - - - - - - - - - -
Net Interest Income (Expense) - - - - - - - - - - - -
Pretax - (171) (176) (176) (176) (133,050) (140,458) (151,199) (161,939) (172,680) (182,171) (191,245)
Tax - - - - - - - - - - - -
Taxes - Net of NOL* - - - - - - - - - - - -
Net Income 0 (171) (176) (176) (176) (133,050) (140,458) (151,199) (161,939) (172,680) (182,171) (191,245)

*Note: Actual Taxes computed net of historical operating losses.

Monthly Income Statement

2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Revenues
Subscriber Revenues 5,000 5,000 10,000 15,000 15,000 15,000 20,000 20,000 20,000 25,000 40,000 50,000
Variable Revenues 10,769 10,931 22,189 33,783 34,289 34,804 47,101 47,808 48,525 61,566 99,983 126,853
Total Revenues 15,769 15,931 32,189 48,783 49,289 49,804 67,101 67,808 68,525 86,566 139,983 176,853
Operating Expenses
Bank Fee 3,011 3,056 6,152 9,340 9,480 9,621 9,470 9,612 9,755 12,363 20,047 25,421
Technical Staff 73,333 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000
SG&A 71,417 76,500 76,500 80,333 80,333 80,333 82,083 85,417 89,167 89,167 90,917 90,917
Rent 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000
Consulting & Legal 30,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000
Depreciation 9,436 10,576 11,734 12,891 14,049 15,206 16,363 17,521 18,678 19,836 20,993 22,150
Total Expenses 190,197 188,132 192,386 200,565 201,862 203,160 205,917 210,549 215,600 219,365 229,956 236,488
EBIT (174,428) (172,202) (160,197) (151,782) (152,572) (153,357) (138,816) (142,741) (147,075) (132,800) (89,973) (59,634)
Interest Income - - - - - - - - - - - -
Interest Expense - - - - - - - - - - - -
Net Interest Income (Expense) - - - - - - - - - - - -
Pretax (174,428) (172,202) (160,197) (151,782) (152,572) (153,357) (138,816) (142,741) (147,075) (132,800) (89,973) (59,634)
Tax - - - - - - - - - - - -
Taxes - Net of NOL* - - - - - - - - - - - -
Net Income (174,428) (172,202) (160,197) (151,782) (152,572) (153,357) (138,816) (142,741) (147,075) (132,800) (89,973) (59,634)

*Note: Actual Taxes computed net of historical operating loss.

Monthly Balance Sheet

1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash & Equivalents 3,900 6 (194) (194) (194) (169,148) (348,535) (537,393) (735,835) (943,861) (1,160,261) (1,384,592)
Marketable Securities - - - - - - - - - - - -
Accounts Receivable 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory - - - - - - - - - - - -
Net PPE - 3,729 3,753 3,576 3,400 43,733 82,908 120,926 157,787 193,490 228,036 261,425
Intangible - - - - - - - - - - - -
Other Assets - - - - - - - - - - - -
Total Assets 3,900 3,735 3,559 3,382 3,206 (125,415) (265,626) (416,467) (578,048) (750,370) (932,225) (1,123,167)
Notes Payable - - - - - - - - - - - -
Accounts Payable - 6 6 6 6 4,435 4,682 5,040 5,398 5,756 6,072 6,375
Other Liabilities - - - - - - - - - - - -
Total Liabilities - 6 6 6 6 4,435 4,682 5,040 5,398 5,756 6,072 6,375
Shareholder Equity 3,900 3,729 3,553 3,376 3,200 (129,850) (270,308) (421,507) (583,446) (756,126) (938,297) (1,129,542)
Total Liabilities & Shareholder Equity 3,900 3,735 3,559 3,382 3,206 (125,415) (265,626) (416,467) (578,048) (750,370) (932,225) (1,123,167)

Monthly Balance Sheet

2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash & Equivalents (1,591,812) (1,795,178) (1,985,708) (2,166,546) (2,346,709) (2,526,500) (2,691,104) (2,857,861) (3,027,780) (3,182,886) (3,294,961) (3,375,123)
Marketable Securities - - - - - - - - - - - -
Accounts Receivable 525.63 531.02 1,072.97 1.626.09 1,642.98 1,660.13 2,236.71 2,260.26 2,284.16 2,885.53 4,666.10 5,895.11
Inventory - - - - - - - - - - - -
Net PPE 293,656 324,746 354,679 383,454 411,072 437,533 462,836 486,982 509,970 531,801 552,475 571,991
Intangible - - - - - - - - - - - -
Other Assets - - - - - - - - - - - -
Total Assess (1,297,630) (1,469,901) (1,629,956) (1,781,465) (1,933,994) (2,087,307) (2,226,031) (2,368,618) (2,515,525) (2,648,199) (2,737,820) (2,797,236)
Notes Payable - - - - - - - - - - - -
Accounts Payable 6,340 6,271 6,413 6,685 6,729 6,772 6,864 7,018 7,187 7,312 7,665 7,883
Other Liabilities - - - - - - - - - - - -
Total Liabilities 6,340 6,271 6,413 6,685 6,729 6,772 6,864 7,018 7,187 7,312 7,665 7,883
Shareholder Equity (1,303,970) (1,476,172) (1,636,369) (1,788,151) (1,940,723) (2,094,079) (2,232,895) (2,375,637) (2,522,712) (2,655,511) (2,745,485) (2,805,119)
Total Liabilities & Shareholder Equity (1,297,630) (1,469,901) (1,629,956) (1,781,465) (1,933,994) (2,087,307) (2,226,031) (2,368,618) (2,515,525) (2,648,199) (2,737,820) (2,797,236)

Monthly Cash Flow Statement

1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999 1999
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash flows from operating activities
Net Income* - (171) (176) (176) (176) (133,050) (140,458) (151,199) (161,939) (172,680) (182,171) (191,245)
Depreciation - 171 176 176 176 1,334 2,491 3,649 4,806 5,963 7,121 8,278
Change in A/R - - - - - - - - - - - -
Change in A/P - 6 0 - - 4,429 247 358 358 358 316 302
Other Changes - - - - - - - - - - - -
Net cash (used) provided in operating activities - 6 0 - - (127,288) (137,720) (147 92) (156,775) (166,359) (174,734) (182,664)
Cash flows from investing activities
- 3,900 200 - - 41,667 41,667 41,667 41,667 41,667 41,667 41,667
Net cash used in investing activities - 3,900 200 - - 41,667 41,667 41,667 41,667 41,667 41,667 41,667
Expenditures for PPE
Cash flows from financing activities
Proceed from investors 3,900 - - - - - - - - - - -
Borrowings of notes payable - - - - - - - - - - - -
Repayments of borrowings - - - - - - - - - - - -
Net cash provided by financing activities 3,900 - - - - - - - - - - -
Net increase (decrease) in cash and cash equivalents 3,900 (3,894) (200) - - (168,954) (179,386) (188,859) (198,442) (208,025) (216,400) (224,331)
Cash and cash equivalents, beginning of period - 3,900 6 (194) (194) (194) (169,148) (348,535) (537,393) (735,835) (943,861) (1,160,261)
Cash and cash equivalents, end of period 3,900 6 (194) (194) (194) (169,148) (348,535) (537,393) (735,835) (943,861) (1,160,261) (1,384,592)

*Note Cash effect of ongoing NOL are reflected in NI

Monthly Cash Flow Statement

2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash flows from operating activities
Net Income* (174,428) (172,202) (160,197) (151,782) (152,572) (153,357) (138,816) (142,741) (147,075) (132,800) (89,973) (59,634)
Depreciation 9,436 10,576 11,734 12,891 14,049 15,206 16,363 17,521 18,678 19,836 20,993 22,150
Change in A/R (526) (5) (542) (553) (17) (17) (577) (24) (24) (601) (1,781) (1,229)
Change in A/P (35) (69) 142 273 43 43 92 154 168 126 353 218
Net cash (used) provided in operating activities (165,553) (161,700) (148,863) (139,171) (138,497) (138,124 (122,937) (125,090) (128,252) (113,440) (70,408) (38,495)
Cash flows from investing activities
41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667
Net cash used in investing activities 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667 41,667
Expenditures for PPE
Cash flows from financing activities
Proceed from investors - - - - - - - - - - - -
Borrowings of notes payable - - - - - - - - - - - -
Repayments of borrowings - - - - - - - - - - - -
Net cash provided by financing activities - - - - - - - - - - - -
Net increase (decrease) in cash and cash equivalents (207,220) (203,366) (190,530) (180,838) (180,164) (179,791) (164,604) (166,756) (169,919) (155,107) (112,075) (80,162)
Cash and cash equivalents, beginning of period (1,384,592) (1,591,812) (1,795,178) (1,985,708) (2,166,546) (2,346,709) (2,526,500) (2,691,104) (2,857,861) (3,027,780) (3,182,886) (3,294,961)
Cash and cash equivalents, end of period (1,591,812) (1,795,178) (1,985,708) (2,166,546) (2,346,709) (2,526,500) (2,691,104) (2,857,861) (3,027,780) (3,182,886) (3,294,961) (3,375,123)

Note: Cash effect of ongoing NOL are reflected in NI


ePower Systems
Table of ContentsAppendices
1. Executive Summary
2. The Industry
3. Company Description
4. ePower's Services
5. Market Research
6. Marketing Strategies
7. Management
8. Financial Plan
Technology
Monthly Financials
Quarterly Financials
Annual Financials
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