Impact: The Academy

Projections: The Academy

Impact on Local Academy of Maritime Flight Markets

Potential Annual Net Income by Market Share

Assumptions
 
 
 
 
 
Year 1Year 2Year 3Year 4Year 5
Ports26140313475579
Boats (4/Port)1035611,2511,9002,315
Pilots2581,4023,1264,7505,787
Pilots/quarter653517821,1881,447
Classrooms11368
Instructors1491417

Projected Income Statement

ACADEMY OF MARITIME FLIGHT : PROJECTED INCOME STATEMENT
 
# of Students2581,4023,1264,7505,787
Yr 1Yr 2Yr 3Yr 4Yr 5
Sales5,341,08129,022,70264,716,74198,332,536119,797,290
Operating Costs-206,431-1,007,011-2,251,942-3,447,678-4,195,781
Gross Margin5,134,64928,015,69162,464,79994,884,857115,601,509
Depreciation-30,833-402,500-795,833-1,225,833-1,659,167
G&A-1,101,365-1,262,252-1,525,191-1,715,352-1,898,367
Interest Income149,831723,2182,036,7854,250,8317,221,942
Interest Expense-108,675-320,250-525,875-717,150-892,675
Pretax Income4,043,60726,753,90861,654,68495,477,353118,373,242
Income Taxes-1,213,082-8,026,172-18,496,405-28,643,206-35,511,972
Net Income2,830,52518,727,73543,158,27966,834,14782,861,269
Depreciation30,833402,500795,8331,225,8331,659,167
Interest Income-149,831-723,218-2,036,785-4,250,831-7,221,942
Interest Expense108,675320,250525,875717,150892,675
Income Taxes1,213,0828,026,17218,496,40528,643,20635,511,972
Net Income4,033,28526,753,44060,939,60793,169,506113,703,141

Projected Balance Sheet

ACADEMY OF MARITIME FLIGHT : PROJECTED BALANCE SHEET
 
 
Yr 1Yr 2Yr 3Yr 4Yr 5
ASSETS
Current Assets
Checking/Savings7,486,56228,674,33773,164,908139,376,638221,720,457
Accounts Receivable53,411290,227647,167983,3251,197,973
Inventory3,4507,10011,15015,20019,650
Other Current Assets25,00025,00025,00025,00025,000
Total Current Assets7,568,42328,996,66473,848,225140,400,163222,963,080
Fixed Assets
Cost3,450,0007,100,00011,150,00015,200,00019,650,000
Acc'd Depr-30,833-433,333-1,229,167-2,455,000-4,114,167
Net Fixed Assets3,419,1676,666,6679,920,83312,745,00015,535,833
TOTAL ASSETS10,987,58935,663,33183,769,059153,145,163238,498,914
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable2,06410,07022,51934,47741,958
Other Current Liabilities50,00050,00050,00050,00050,000
Total Current Liabilities52,06460,07072,51984,47791,958
Long Term Liabilities3,105,0006,045,0008,980,00011,510,00013,995,000
Total Liabilities3,157,0646,105,0709,052,51911,594,47714,086,958
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 Earnings2,830,52521,558,26064,716,539131,550,687214,411,956
Total Equity7,830,52529,558,26074,716,539141,550,687224,411,956
TOTAL LIABILITIES & EQUITY10,987,58935,663,33183,769,059153,145,163238,498,914

Projected Cash Flow

ACADEMY OF MARITIME FLIGHT : PROJECTED CASH FLOW
 
 
 
Yr 1Yr 2Yr 3Yr 4Yr 5
OPERATING ACTIVITIES
Net Income2,830,52518,727,73543,158,27966,834,14782,861,269
Adjustments to reconcile Net Income
to net cash provided by operations:
Change in:
Accounts Receivable-53,411-236,816-356,940-336,158-214,648
Accounts Payable2,0648,00612,44911,9577,481
Other Current Assets-25,000----
Depreciation30,833402,500795,8331,225,8331,659,167
Inventory-3,450-3,650-4,050-4,050-4,450
Other Liabilities50,000----
Net cash provided by Operating Activities2,831,56218,897,77543,605,57167,731,73084,308,819
INVESTING ACTIVITIES
Equipment-3,450,000-3,650,000-4,050,000-4,050,000-4,450,000
Net cash provided by Investing Activities-3,450,000-3,650,000-4,050,000-4,050,000-4,450,000
FINANCING ACTIVITIES
LTD Borrowings3,450,0003,650,0004,050,0004,050,0004,450,000
LTD Paydowns-345,000-710,000-1,115,000-1,520,000-1,965,000
Equity Contributions5,000,0003,000,0002,000,000--
Dividend Payments-----
Net cash provided by Financing Activities8,105,0005,940,0004,935,0002,530,0002,485,000
Net cash increase for period7,486,56221,187,77544,490,57166,211,73082,343,819
Cash at beginning of period-7,486,56228,674,33773,164,908139,376,638
Cash at end of period7,486,56228,674,33773,164,908139,376,638221,720,457

Summary