Impact: Fast Touring

Projections: Fast Touring

Impact on the Fast Touring Market

Potential Annual Net Income by Market Share

FAST TOURING : MARKET PROJECTION SUMMARY
 
 
 
 
Market SharePassengersPax/DayRuns/DayBoatsPax/RunTotal RevenueTotal ExpenseNet Income
2010 TOTALS18,418,1571,307,689,133
10% Share1,841,8165,0461,26212710130,768,91371,351,20059,417,713
20% Share3,683,63110,0922,52319014261,537,827108,672,400152,865,427
30% Share5,525,44715,1383,78525415392,306,740145,277,840247,028,900

Projected Income Statement

FAST TOURING : PROJECTED INCOME STATMENT
 
# of Boats Deployed104070100127
Yr 1Yr 2Yr 3Yr 4Yr 5
Sales10,296,76541,598,93074,254,090109,259,589142,922,469
Operating Costs-3,848,504-15,547,956-27,753,101-40,836,706-53,418,495
Gross Margin6,448,26126,050,97446,500,98968,422,88389,503,974
Depreciation-256,944-3,840,278-12,920,139-21,954,861-30,834,722
G&A-936,367-3,782,925-6,752,520-9,935,851-12,997,087
Interest Income85,916197,770241,698276,926382,671
Interest Expense-900,000-4,350,000-9,000,000-12,750,000-15,330,000
Pretax Income4,440,86514,275,54218,070,02724,059,09730,724,835
Income Taxes-1,332,259-4,282,663-5,421,008-7,217,729-9,217,451
Net Income3,108,6059,992,87912,649,01916,841,36821,507,385
Depreciation256,9443,840,27812,920,13921,954,86130,834,722
Interest Income-85,916-197,770-241,698-276,926-382,671
Interest Expense900,0004,350,0009,000,00012,750,00015,330,000
Income Taxes1,332,2594,282,6635,421,0087,217,7299,217,451
Net Income5,511,89322,268,04939,748,46858,487,03276,506,887

Projected Balance Sheet

FAST TOURING : PROJECTED BALANCE SHEET
 
 
r 4
 
Yr 1Yr 2Yr 3Yr 4Yr 5
ASSETS
Current Assets
Checking/Savings4,295,8175,592,6976,492,2307,354,11511,779,411
Accounts Receivable102,968415,989742,5411,092,5961,429,225
Inventory30,250120,500210,625300,750381,750
Other Current Assets25,00025,00025,00025,00025,000
Total Current Assets4,454,0356,154,1867,470,3968,772,46113,615,386
Fixed Assets
Cost30,250,000120,500,000210,625,000300,750,000381,750,000
Acc'd Depr-256,944-4,097,222-17,017,361-38,972,222-69,806,944
Net Fixed Assets29,993,056116,402,778193,607,639261,777,778311,943,056
TOTAL ASSETS34,447,091122,556,964201,078,035270,550,239325,558,441
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable38,485155,480277,531408,367534,185
Other Current Liabilities50,00050,00050,00050,00050,000
Total Current Liabilities88,485205,480327,531458,367584,185
Long Term Liabilities26,250,000101,250,000165,000,000217,500,000250,875,000
Total Liabilities26,338,485101,455,480165,327,531217,958,367251,459,185
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 Earnings3,108,60513,101,48525,750,50442,591,87264,099,256
Total Equity8,108,60521,101,48535,750,50452,591,87274,099,256
TOTAL LIABILITIES & EQUITY34,447,091122,556,964201,078,035270,550,239325,558,441

Projected Cash Flow

FAST TOURING : PROJECTED CASH FLOW
 
 
 
Yr 1Yr 2Yr 3Yr 4Yr 5
OPERATING ACTIVITIES
Net Income3,108,6059,992,87912,649,01916,841,36821,507,385
Adjustments to reconcile Net Income
to net cash provided by operations:
Change in:
Accounts Receivable-102,968-313,022-326,552-350,055-336,629
Accounts Payable38,485116,995122,051130,836125,818
Other Current Assets-25,000----
Depreciation256,9443,840,27812,920,13921,954,86130,834,722
Inventory-30,250-90,250-90,125-90,125-81,000
Other Liabilities50,000----
Net cash provided by Operating Activities3,295,81713,546,88025,274,53338,486,88552,050,296
INVESTING ACTIVITIES
Equipment-30,250,000-90,250,000-90,125,000-90,125,000-81,000,000
Net cash provided by Investing Activities-30,250,000-90,250,000-90,125,000-90,125,000-81,000,000
FINANCING ACTIVITIES
LTD Borrowings30,000,00090,000,00090,000,00090,000,00081,000,000
LTD Paydowns-3,750,000-15,000,000-26,250,000-37,500,000-47,625,000
Equity Contributions5,000,0003,000,0002,000,000--
Dividend Payments-----
Net cash provided by Financing Activities31,250,00078,000,00065,750,00052,500,00033,375,000
Net cash increase for period4,295,8171,296,880899,533861,8854,425,296
Cash at beginning of period-4,295,8175,592,6976,492,2307,354,115
Cash at end of period4,295,8175,592,6976,492,2307,354,11511,779,411

Summary