Impact: Fast Freight

Projections: Fast Freight

Impact on the Fast Freight Market

Potential Annual Net Income by Market Share

FAST FREIGHT : PROJECTED MARKET SUMMARY
 
 
Market ShareRevenue ShareVesselsSP RevenueSP ExpenseSP Net IncomeProfit/Vessel
1% Share1,332,403,904644932,682,733520,351,462412,331,270640,266
2% Share2,664,807,80812871,865,365,466936,632,632928,732,833721,626
3% Share3,997,211,71219312,798,048,1981,248,843,5101,549,204,689802,281
4% Share5,329,615,61625743,730,730,9311,456,984,0952,273,746,836883,352
5% Share6,662,019,52032174,663,413,6641,561,054,3873,102,359,277964,364

Projected Income Statement

FAST FREIGHT : PROJECTED INCOME STATEMENT
 
 
# of Boats Deployed3061115213384
Market Share0.04%0.07%0.13%0.24%0.42%
Yr 1Yr 2Yr 3Yr 4Yr 5
Sales48,110,15397,182,509183,383,394339,992,813612,837,046
Operating Costs-22,032,514-45,247,440-87,008,601-165,989,713-308,226,531
Gross Margin26,077,63951,935,06996,374,793174,003,101304,610,515
Depreciation-777,778-10,136,111-20,344,444-37,950,000-69,151,389
G&A-4,406,503-9,049,488-17,401,720-33,197,943-61,645,306
Interest Income164,135548,1241,114,0561,977,0743,298,254
Interest Expense-2,835,000-8,284,500-15,361,500-27,877,500-49,854,000
Pretax Income18,222,49325,013,09444,381,18576,954,732127,258,073
Income Taxes-5,466,748-7,503,928-13,314,355-23,086,420-38,177,422
Net Income12,755,74517,509,16631,066,82953,868,31289,080,651
Depreciation777,77810,136,11120,344,44437,950,00069,151,389
Interest Income-164,135-548,124-1,114,056-1,977,074-3,298,254
Interest Expense2,835,0008,284,50015,361,50027,877,50049,854,000
Income Taxes5,466,7487,503,92813,314,35523,086,42038,177,422
Net Income21,671,13642,885,58278,973,073140,805,158242,965,208

Projected Balance Sheet

FAST FREIGHT : PROJECTED BALANCE SHEET
 
 
 
 
 
Yr 1Yr 2Yr 3Yr 4Yr 5
ASSETS
Current Assets
Checking/Savings8,206,74719,199,45036,503,32662,350,356102,562,322
Accounts Receivable481,102971,8251,833,8343,399,9286,128,370
Inventory91,000185,000348,000643,0001,157,000
Other Current Assets25,00025,00025,00025,00025,000
Total Current Assets8,803,84820,381,27538,710,16066,418,284109,872,692
Fixed Assets
Cost91,000,000185,000,000348,000,000643,000,0001,157,000,000
Acc'd Depr-777,778-10,913,889-31,258,333-69,208,333-138,359,722
Net Fixed Assets90,222,222174,086,111316,741,667573,791,6671,018,640,278
TOTAL ASSETS99,026,071194,467,386355,451,827640,209,9501,128,512,970
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable220,325452,474870,0861,659,8973,082,265
Other Current Liabilities50,00050,00050,00050,00050,000
Total Current Liabilities270,325502,474920,0861,709,8973,132,265
Long Term Liabilities81,000,000155,700,000283,200,000513,300,000911,100,000
Total Liabilities81,270,325156,202,474284,120,086515,009,897914,232,265
Equity
Common Stock500,000800,0001,000,0001,000,0001,000,000
Additional Paid in Capital4,500,0007,200,0009,000,0009,000,0009,000,000
Retained Earnings12,755,74530,264,91161,331,741115,200,053204,280,705
Total Equity17,755,74538,264,91171,331,741125,200,053214,280,705
TOTAL LIABILITIES & EQUITY99,026,071194,467,386355,451,827640,209,9501,128,512,970

Projected Cash Flow

FAST FREIGHT : PROJECTED CASH FLOW
 
 
 
 
Yr 1Yr 2Yr 3Yr 4Yr 5
OPERATING ACTIVITIES
Net Income12,755,74517,509,16631,066,82953,868,31289,080,651
Adjustments to reconcile Net Income
to net cash provided by operations:
Change in:
Accounts Receivable-481,102-490,724-862,009-1,566,094-2,728,442
Accounts Payable220,325232,149417,612789,8111,422,368
Other Current Assets-25,000----
Depreciation777,77810,136,11120,344,44437,950,00069,151,389
Inventory-91,000-94,000-163,000-295,000-514,000
Other Liabilities50,000----
Net cash provided by Operating Activities13,206,74727,292,70350,803,87790,747,029156,411,966
INVESTING ACTIVITIES
Equipment-91,000,000-94,000,000-163,000,000-295,000,000-514,000,000
Net cash provided by Investing Activities-91,000,000-94,000,000-163,000,000-295,000,000-514,000,000
FINANCING ACTIVITIES
LTD Borrowings90,000,00093,000,000162,000,000294,000,000513,000,000
LTD Paydowns-9,000,000-18,300,000-34,500,000-63,900,000-115,200,000
Equity Contributions5,000,0003,000,0002,000,000--
Dividend Payments-----
Net cash provided by Financing Activities86,000,00077,700,000129,500,000230,100,000397,800,000
Net cash increase for period8,206,74710,992,70317,303,87725,847,02940,211,966
Cash at beginning of period-8,206,74719,199,45036,503,32662,350,356
Cash at end of period8,206,74719,199,45036,503,32662,350,356102,562,322

Summary