Income Statement Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Gross Sales 27.2 22.1 26.2 28.9 44.5

Excise Tax 3.32 3.93 4.34 6.68
Net Sales 22.3 24.6 37.8
COGS 19.3 21.3 32.8
Gross Profit 3.0 3.3 5.0
Op Expenses 4.546 4.546 4.546
EBIT -1.6 -1.3 0.5
Dep 0.8 0.8 0.9
Interest 0.1 0.2 0.6
PBT -2.5 -2.3 -1.0
Tax -0.8 -0.7 -0.3
PAT -1.8 -1.6 -0.7
Dividend 0 0 5
RE -1.8 -1.6 -5.7

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Assets
Cash 7.6 7.5 7.5 7.5
A/C Recievable 26.7 27.74 32.9 50.12
Inventory 34.5 45.1 80.5 140.5
Total CA 68.8 80.3 120.9 198.2
Gross PPE 100.9 100.9 100.9 104.4
Accumulated Dep 14.8 15.6 16.5 17.4
Net PPE 86.1 85.3 84.4 87.0
Total Assets 154.9 165.6 205.3 285.2
Liabilities
Ac Payable 8.2 12.2 24.2 38.2
Notes Payable 8 17.2 47.3 119.1
Accrued Taxes -0.9 -1.7 -2.4 -2.6
TCL 15.3 27.7 69.1 154.7
Sh. Equity 139.6 137.8 136.2 130.5
Total Liabilities 154.9 165.6 205.3 285.2

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Purchases 14.41 15.9 24.5 48.4 76.4
Direct Labor and Other Mfg Cost 4.9 5.4 8.3 16.5
COGS 19.3 21.3 32.8
Inventory 34.5 45.1 80.5 140.5

ROE Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Pre Tax ROE = EBT /Equity -1.83% -1.71% -0.73%
Tax Effect = 1-Tax Rate 70.00% 70.00% 70.00%
After Tax ROE(%) -1.28% -1.20% -0.51%

Assumptions
Excise Tax Rate 15%
Annual Operating Expenses / Annual Gr Sales 6.0%
Depreciation / Gross PP&E 10%
Interest Rate on Borrowings (and Deposits) 14.5%
Income Tax Rate 30%
Dividends Paid (in March, June, Sep, Dec) 5
Minimum Cash Balance 8
Accounts Receivable Collection
In One Month 40%
In Two Months 60%
Purchases / Gr Sales in Two Months 55%
Direct Labour / Purchases Last Month 34%
Capital Expenditures (every third month) 4
Accounts payable / Purchases 50%
Cost of Goods Sold / Gr Sales 73.7%
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13
88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7 34
13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
9.9 15.7 19.9 18.4 9.7 5.7 5.0 4.0 3.1
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
5.4 11.1 15.3 13.9 5.1 1.1 0.5 -0.6 -1.4
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
1.4 2.6 3.7 4.2 3.4 2.0 1.1 0.6 0.4
3.1 7.7 10.7 8.8 0.9 -1.8 -1.5 -2.1 -2.8
0.9 2.3 3.2 2.6 0.3 -0.5 -0.4 -0.6 -0.8
2.2 5.4 7.5 6.2 0.6 -1.2 -1.0 -1.5 -2.0
0 0 5 0 0 5 0 0 5
2.2 5.4 2.5 6.2 0.6 -6.2 -1.0 -1.5 -7.0

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5

102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3
308.9 406.2 421.8 354.7 240.3 149.1 111.0 96.2 88.9
104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0

215.7 308.0 345.5 278.5 163.9 86.9 51.5 36.2 38.6
-1.7 0.6 0.0 2.6 2.9 0.0 -0.4 -1.1 -1.9
262.4 353.4 369.1 295.0 179.1 96.6 58.7 44.4 46.7
132.7 138.1 140.6 146.7 147.4 141.1 140.1 138.6 131.6
395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
26.0 32.9 30.5 16.0 9.4 8.3 6.6 5.2 6.4
64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

2.33% 5.56% 7.62% 6.01% 0.60% -1.26% -1.07% -1.52% -2.13%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
1.63% 3.89% 5.33% 4.21% 0.42% -0.88% -0.75% -1.06% -1.49%
Feb-13
36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12 Mar-12
Gross Sales 27.2 22.1 20.1 23.1 34.2
Excise Tax 3.32 3.02 3.47 5.13
Net Sales 17.1 19.6 29.1
COGS 14.8 17.0 25.2
Gross Profit 2.3 2.6 3.9
Op Expenses 3.792 3.792 3.792
EBIT -1.5 -1.2 0.1
Dep 0.8 0.8 0.9
Interest 0.1 0.1 0.4
PBT -2.5 -2.2 -1.2
Tax -0.7 -0.6 -0.4
PAT -1.7 -1.5 -0.8
Dividend 0 0 5
RE -1.7 -1.5 -5.8

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Assets
Cash 7.6 7.5 7.5 7.5
A/C Recievable 26.7 21.64 23.44 36.34
Inventory 34.5 42.8 70.9 125.3
Total CA 68.8 72.0 101.8 169.1
Gross PPE 100.9 100.9 100.9 104.4
Accumulated Dep 14.8 15.6 16.5 17.4
Net PPE 86.1 85.3 84.4 87.0
Total Assets 154.9 157.2 186.3 256.1
Liabilities
Ac Payable 8.2 9.4 19.4 33.2
Notes Payable 8 11.6 32.8 95.1
Change from Original (%) -48% -44% -25%
Accrued Taxes -0.9 -1.6 -2.3 -2.6
TCL 15.3 19.3 49.9 125.6
Sh. Equity 139.6 137.9 136.4 130.5
Total Liabilities 154.9 157.2 186.3 256.1

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Purchases 11.055 12.7 18.8 38.7 66.4
Direct Labor and Other Mfg Cost 3.8 4.3 6.4 13.2
COGS 14.8 17.0 25.2
Inventory 34.5 42.8 70.9 125.3

ROE Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Pre Tax ROE = EBT /Equity -1.78% -1.59% -0.91%
Tax Effect = 1-Tax Rate 70.00% 70.00% 70.00%
After Tax ROE(%) -1.25% -1.11% -0.64%
Change from Original(pps) 0.03% 0.09% -0.13%
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13
70.4 120.7 152.9 141.9 71.4 40.2 34.2 27.2 22.1 34
10.56 18.11 22.94 21.29 10.71 6.03 5.13 4.08 3.32
59.8 102.6 130.0 120.6 60.7 34.2 29.1 23.1 18.8
51.9 89.0 112.7 104.6 52.6 29.6 25.2 20.0 16.3
8.0 13.6 17.3 16.0 8.1 4.5 3.9 3.1 2.5
3.792 3.792 3.792 3.792 3.792 3.792 3.792 3.792 3.792
4.2 9.8 13.5 12.2 4.3 0.8 0.1 -0.7 -1.3
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
1.1 2.2 3.2 3.6 2.9 1.7 0.8 0.5 0.4
2.1 6.8 9.4 7.7 0.5 -1.8 -1.7 -2.1 -2.6
0.6 2.0 2.8 2.3 0.1 -0.6 -0.5 -0.6 -0.8
1.5 4.8 6.6 5.4 0.3 -1.3 -1.2 -1.5 -1.8
0 0 5 0 0 5 0 0 5
1.5 4.8 1.6 5.4 0.3 -6.3 -1.2 -1.5 -6.8

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5

79.2 151.22 213.6 221.92 144.82 71.32 46.6 36 26.7
180.0 197.7 150.8 81.7 55.4 47.1 39.2 42.0 51.9
266.7 356.4 371.9 311.1 207.7 126.0 93.3 85.5 86.1
104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
352.9 441.7 459.8 398.1 293.8 214.6 181.0 172.3 175.5

42.0 39.0 19.6 11.1 9.4 7.5 6.1 9.4 10.0

180.8 265.9 301.9 241.0 137.9 69.4 38.9 29.0 39.2
-19% -16% -14% -16% -19% -25% -32% -25% 1%
-2.0 0.0 0.0 2.3 2.4 0.0 -0.5 -1.1 -1.9
220.9 305.0 321.5 254.4 149.8 76.9 44.5 37.2 47.2
132.0 136.8 138.3 143.7 144.1 137.8 136.6 135.1 128.3
352.9 441.7 459.8 398.1 293.8 214.6 181.0 172.3 175.5

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

84.1 78.0 39.3 22.1 18.8 15.0 12.2 18.7 19.9
22.6 28.6 26.5 13.4 7.5 6.4 5.1 4.1 6.4
51.9 89.0 112.7 104.6 52.6 29.6 25.2 20.0 16.3
180.0 197.7 150.8 81.7 55.4 47.1 39.2 42.0 51.9

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

 1.62% 4.97% 6.78% 5.35% 0.32% -1.34% -1.24% -1.57% -2.03%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
1.14% 3.48% 4.74% 3.75% 0.23% -0.94% -0.87% -1.10% -1.42%
-0.49% -0.41% -0.59% -0.46% -0.19% -0.06% -0.12% -0.03% 0.07%
Feb-13
36.2 3.792

14.8137
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 17.6 19.4
Gross Profit 4.7 5.2
Op Expenses 4.546 4.546
EBIT 0.2 0.7
Dep 0.8 0.8
Interest 0.1 0.2
PBT -0.8 -0.4
Tax -0.2 -0.1
PAT -0.5 -0.3
Dividend 0 0
RE -0.5 -0.3

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 27.74 32.9
Inventory 34.5 44.1 76.3
Total CA 68.8 79.3 116.7
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 164.6 201.1
Liabilities
Ac Payable 8.2 11.1 22.0
Notes Payable 8 15.6 41.6
Change from Original (%) -10% -14%
Accrued Taxes -0.9 -1.1 -1.2
TCL 15.3 25.5 62.3
Sh. Equity 139.6 139.1 138.8
Total Liabilities 154.9 164.6 201.1

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 13.1 14.45 22.25 44
Direct Labor and Other Mfg Cost 4.5 4.9 7.6
COGS 17.6 19.4
Inventory 34.5 44.1 76.3

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -0.55% -0.27%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -0.39% -0.19%
Change from Original(pps) 0.89% 1.01%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
29.8 59.0 93.1 117.9 109.3 57.5 33.7 29.8 23.7 18.6
8.0 15.8 25.0 31.7 29.4 15.4 9.1 8.0 6.4 5.0
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
3.5 11.3 20.5 27.1 24.8 10.9 4.5 3.5 1.8 0.4
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
0.5 1.3 2.3 3.3 3.8 2.9 1.5 0.6 0.1 -0.1
2.1 9.1 17.3 22.9 20.2 7.1 2.1 2.0 0.8 -0.4
0.6 2.7 5.2 6.9 6.1 2.1 0.6 0.6 0.2 -0.1
1.5 6.4 12.1 16.0 14.1 5.0 1.5 1.4 0.5 -0.3
5 0 0 5 0 0 5 0 0 5
-3.5 6.4 12.1 11.0 14.1 5.0 -3.5 1.4 0.5 -5.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
50.12 102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
130.9 183.5 201.9 154.7 85.1 58.4 50.0 40.0 38.1 43.4
188.5 294.0 389.4 409.8 349.7 237.9 147.5 110.5 95.8 88.0
104.4 104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
17.4 18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
87.0 86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
275.6 380.2 474.7 497.7 436.7 324.1 236.2 198.2 182.7 177.4

34.7 44.0 40.8 21.5 12.6 11.1 8.8 6.9 8.5 9.1
106.2 192.4 272.9 311.4 239.1 120.9 47.0 9.0 -8.9 -8.6
-12% -12% -13% -11% -16% -36% -85% -476% 504% 547%
-0.6 2.1 7.3 0.0 6.1 8.2 0.0 0.6 0.8 0.0
140.3 238.5 321.0 332.9 257.8 140.2 55.8 16.5 0.4 0.4
135.3 141.7 153.7 164.8 178.9 183.9 180.4 181.7 182.3 177.0
275.6 380.2 474.7 497.7 436.7 324.1 236.2 198.2 182.7 177.4

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
69.45 87.95 81.6 42.9 25.15 22.25 17.65 13.85 17 18.1
15.0 23.6 29.9 27.7 14.6 8.6 7.6 6.0 4.7 5.8
29.8 59.0 93.1 117.9 109.3 57.5 33.7 29.8 23.7 18.6
130.9 183.5 201.9 154.7 85.1 58.4 50.0 40.0 38.1 43.4

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
 1.55% 6.45% 11.23% 13.91% 11.27% 3.87% 1.17% 1.08% 0.42% -0.23%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
1.08% 4.52% 7.86% 9.74% 7.89% 2.71% 0.82% 0.76% 0.30% -0.16%
1.60% 2.89% 3.97% 4.40% 3.68% 2.29% 1.70% 1.51% 1.36% 1.33%
Jan-13 Feb-13
34 36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 18.7 20.7
Gross Profit 3.5 3.9
Op Expenses 4.546 4.546
EBIT -1.0 -0.6
Dep 0.8 0.8
Interest 0.1 0.2
PBT -1.9 -1.7
Tax -0.6 -0.5
PAT -1.4 -1.2
Dividend 0 0
RE -1.4 -1.2

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 27.74 32.9
Inventory 34.5 45.0 80.1
Total CA 68.8 80.3 120.5
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 165.5 204.9
Liabilities
Ac Payable 8.2 12.2 24.2
Notes Payable 8 16.5 45.6
Change from Original (%) -4% -4%
Accrued Taxes -0.9 -1.5 -2.0
TCL 15.3 27.3 67.8
Sh. Equity 139.6 138.2 137.1
Total Liabilities 154.9 165.5 204.9

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 14.41 15.9 24.5 48.4
Direct Labor and Other Mfg Cost 4.3 4.8 7.3
COGS 18.7 20.7
Inventory 34.5 45.0 80.1

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -1.41% -1.23%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -0.99% -0.86%
Change from Original(pps) 0.30% 0.34%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
31.8 62.9 99.3 125.8 116.7 61.3 36.0 31.8 25.2 19.8
6.0 11.9 18.8 23.7 22.0 11.6 6.8 6.0 4.8 3.7
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
1.5 7.3 14.2 19.2 17.5 7.0 2.2 1.5 0.2 -0.8
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
0.6 1.4 2.5 3.6 4.0 3.2 1.8 0.9 0.5 0.3
0.0 5.1 10.8 14.7 12.5 2.9 -0.5 -0.4 -1.2 -2.0
0.0 1.5 3.2 4.4 3.8 0.9 -0.1 -0.1 -0.3 -0.6
0.0 3.5 7.6 10.3 8.8 2.1 -0.3 -0.2 -0.8 -1.4
5 0 0 5 0 0 5 0 0 5
-5.0 3.5 7.6 5.3 8.8 2.1 -5.3 -0.2 -0.8 -6.4

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
50.12 102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
139.2 195.9 215.4 163.8 88.9 60.3 51.1 40.3 38.4 44.1
196.8 306.4 402.9 418.8 353.4 239.8 148.7 110.8 96.2 88.8
104.4 104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
17.4 18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
87.0 86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
283.9 392.6 488.2 506.7 440.4 325.9 237.3 198.6 183.0 178.1

38.2 48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0
115.5 209.0 297.3 334.6 265.5 149.7 73.7 37.3 21.2 22.7
-3% -3% -4% -3% -5% -10% -18% -38% -71% -70%
-2.0 -0.5 2.8 0.0 3.8 4.6 0.0 -0.1 -0.5 -1.1
151.8 257.0 345.0 358.2 283.1 166.6 83.4 44.8 30.1 31.6
132.1 135.6 143.2 148.5 157.3 159.3 154.0 153.7 152.9 146.5
283.9 392.6 488.2 506.7 440.4 325.9 237.3 198.6 183.0 178.1

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
76.4 96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
14.5 22.9 29.0 26.9 14.2 8.3 7.3 5.8 4.6 5.6
31.8 62.9 99.3 125.8 116.7 61.3 36.0 31.8 25.2 19.8
139.2 195.9 215.4 163.8 88.9 60.3 51.1 40.3 38.4 44.1

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
 0.03% 3.74% 7.55% 9.91% 7.98% 1.84% -0.32% -0.23% -0.76% -1.38%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
0.02% 2.62% 5.28% 6.93% 5.58% 1.29% -0.22% -0.16% -0.53% -0.97%
0.54% 0.99% 1.39% 1.60% 1.37% 0.87% 0.65% 0.59% 0.53% 0.53%
Jan-13 Feb-13
34 36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 19.3 21.3
Gross Profit 3.0 3.3
Op Expenses 2.273 2.273
EBIT 0.7 1.0
Dep 0.8 0.8
Interest 0.1 0.2
PBT -0.2 0.0
Tax -0.1 0.0
PAT -0.2 0.0
Dividend 0 0
RE -0.2 0.0

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 27.74 32.9
Inventory 34.5 45.1 80.5
Total CA 68.8 80.3 120.9
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 165.6 205.3
Liabilities
Ac Payable 8.2 12.2 24.2
Notes Payable 8 14.9 42.7
Change from Original (%) -15% -11%
Accrued Taxes -0.9 -1.0 -1.0
TCL 15.3 26.1 65.9
Sh. Equity 139.6 139.4 139.4
Total Liabilities 154.9 165.6 205.3

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 14.41 15.9 24.5 48.4
Direct Labor and Other Mfg Cost 4.9 5.4 8.3
COGS 19.3 21.3
Inventory 34.5 45.1 80.5

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -0.18% -0.02%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -0.13% -0.01%
Change from Original(pps) 1.16% 1.18%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
5.0 9.9 15.7 19.9 18.4 9.7 5.7 5.0 4.0 3.1
2.273 2.273 2.273 2.273 2.273 2.273 2.273 2.273 2.273 2.273
2.8 7.7 13.4 17.6 16.2 7.4 3.4 2.8 1.7 0.9
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
0.5 1.4 2.5 3.6 4.1 3.2 1.8 0.9 0.4 0.2
1.4 5.4 10.1 13.1 11.2 3.3 0.7 1.0 0.4 -0.3
0.4 1.6 3.0 3.9 3.4 1.0 0.2 0.3 0.1 -0.1
1.0 3.8 7.0 9.2 7.8 2.3 0.5 0.7 0.3 -0.2
5 0 0 5 0 0 5 0 0 5
-4.0 3.8 7.0 4.2 7.8 2.3 -4.5 0.7 0.3 -5.2

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
50.12 102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3
198.2 308.9 406.2 421.8 354.7 240.3 149.1 111.0 96.2 88.9
104.4 104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
17.4 18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
87.0 86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
285.2 395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

38.2 48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0
112.2 206.5 296.3 335.7 266.3 149.3 72.0 34.1 16.3 16.6
-6% -4% -4% -3% -5% -10% -21% -51% -122% -133%
-0.6 1.1 4.1 0.0 3.4 4.4 0.0 0.3 0.4 0.0
149.9 255.9 345.3 359.3 283.5 165.9 81.7 42.0 26.0 26.5
135.4 139.2 146.2 150.4 158.3 160.6 156.0 156.7 157.0 151.8
285.2 395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
76.4 96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
16.5 26.0 32.9 30.5 16.0 9.4 8.3 6.6 5.2 6.4
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
 1.01% 3.91% 6.88% 8.73% 7.09% 2.06% 0.43% 0.61% 0.24% -0.20%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
0.71% 2.74% 4.82% 6.11% 4.96% 1.44% 0.30% 0.43% 0.17% -0.14%
1.22% 1.11% 0.92% 0.77% 0.75% 1.02% 1.18% 1.18% 1.23% 1.36%
Jan-13 Feb-13
34 36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 19.3 21.3
Gross Profit 3.0 3.3
Op Expenses 4.546 4.546
EBIT -1.6 -1.3
Dep 0.8 0.8
Interest 0.1 0.2
PBT -2.5 -2.3
Tax -0.8 -0.7
PAT -1.8 -1.6
Dividend 0 0
RE -1.8 -1.6

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 27.74 32.9
Inventory 34.5 45.1 80.5
Total CA 68.8 80.3 120.9
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 165.6 205.3
Liabilities
Ac Payable 8.2 12.2 24.2
Notes Payable 8 17.2 47.3
Change from Original (%) 0% 0%
Accrued Taxes -0.9 -1.7 -2.4
TCL 15.3 27.7 69.1
Sh. Equity 139.6 137.8 136.2
Total Liabilities 154.9 165.6 205.3

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 14.41 15.9 24.5 48.4
Direct Labor and Other Mfg Cost 4.9 5.4 8.3
COGS 19.3 21.3
Inventory 34.5 45.1 80.5

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -1.83% -1.71%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -1.28% -1.20%
Change from Original(pps) 0.00% 0.00%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
5.0 9.9 15.7 19.9 18.4 9.7 5.7 5.0 4.0 3.1
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
0.5 5.4 11.1 15.3 13.9 5.1 1.1 0.5 -0.6 -1.4
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
0.6 1.4 2.5 3.7 4.1 3.2 1.9 0.9 0.4 0.2
-1.0 3.1 7.7 10.8 8.9 1.0 -1.6 -1.3 -1.9 -2.6
-0.3 0.9 2.3 3.2 2.7 0.3 -0.5 -0.4 -0.6 -0.8
-0.7 2.2 5.4 7.5 6.3 0.7 -1.2 -0.9 -1.3 -1.8
0 0 0 0 0 0 0 0 0 0
-0.7 2.2 5.4 7.5 6.3 0.7 -1.2 -0.9 -1.3 -1.8

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
50.12 102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3
198.2 308.9 406.2 421.8 354.7 240.3 149.1 111.0 96.2 88.9
104.4 104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
17.4 18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
87.0 86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
285.2 395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

38.2 48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0
114.1 210.7 302.8 335.4 268.3 153.6 71.5 35.9 20.4 17.7
-4% -2% -2% -3% -4% -7% -22% -43% -77% -119%
-2.6 -1.7 0.6 0.0 2.7 3.0 0.0 -0.4 -1.0 -1.8
149.7 257.3 348.3 359.0 284.8 168.8 81.2 43.2 28.8 25.9
135.5 137.7 143.2 150.7 157.0 157.7 156.5 155.6 154.2 152.4
285.2 395.1 491.5 509.7 441.7 326.5 237.7 198.8 183.0 178.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
76.4 96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
16.5 26.0 32.9 30.5 16.0 9.4 8.3 6.6 5.2 6.4
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
-0.71% 2.29% 5.40% 7.15% 5.70% 0.64% -1.05% -0.84% -1.24% -1.72%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
-0.50% 1.60% 3.78% 5.00% 3.99% 0.45% -0.74% -0.59% -0.87% -1.20%
0.02% -0.03% -0.11% -0.33% -0.22% 0.03% 0.14% 0.16% 0.19% 0.29%
Jan-13 Feb-13
34 36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 19.3 21.3
Gross Profit 3.0 3.3
Op Expenses 4.546 4.546
EBIT -1.6 -1.3
Dep 0.8 0.8
Interest 0.1 0.2
PBT -2.5 -2.4
Tax -0.8 -0.7
PAT -1.8 -1.7
Dividend 0 0
RE -1.8 -1.7

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 30.8 33.5
Inventory 34.5 45.1 80.5
Total CA 68.8 83.4 121.5
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 168.6 205.9
Liabilities
Ac Payable 8.2 12.2 24.2
Notes Payable 8 20.2 47.9
Change from Original (%) 15% 1%
Accrued Taxes -0.9 -1.7 -2.4
TCL 15.3 30.8 69.7
Sh. Equity 139.6 137.8 136.2
Total Liabilities 154.9 168.6 205.9

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 14.41 15.9 24.5 48.4
Direct Labor and Other Mfg Cost 4.9 5.4 8.3
COGS 19.3 21.3
Inventory 34.5 45.1 80.5

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -1.83% -1.74%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -1.28% -1.22%
Change from Original(pps) 0.00% -0.02%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
5.0 9.9 15.7 19.9 18.4 9.7 5.7 5.0 4.0 3.1
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
0.5 5.4 11.1 15.3 13.9 5.1 1.1 0.5 -0.6 -1.4
0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0
0.6 1.4 2.5 3.3 3.4 2.3 1.0 0.6 0.4 0.3
-1.0 3.1 7.8 11.2 9.6 2.0 -0.8 -1.0 -1.9 -2.6
-0.3 0.9 2.3 3.3 2.9 0.6 -0.2 -0.3 -0.6 -0.8
-0.7 2.2 5.5 7.8 6.7 1.4 -0.5 -0.7 -1.3 -1.9
5 0 0 5 0 0 5 0 0 5
-5.7 2.2 5.5 2.8 6.7 1.4 -5.5 -0.7 -1.3 -6.9

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
49.1 92.6 143.5 180.5 167.8 90.4 54.9 49.1 39.9 32.3
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3
197.1 298.5 369.7 354.8 265.5 158.7 113.9 97.1 85.8 84.1
104.4 104.4 104.4 107.9 107.9 107.9 111.4 111.4 111.4 114.9
17.4 18.2 19.1 20.0 20.9 21.8 22.7 23.6 24.6 25.5
87.0 86.2 85.3 87.9 87.0 86.1 88.7 87.8 86.8 89.4
284.2 384.7 455.0 442.7 352.5 244.9 202.6 184.9 172.6 173.4

38.2 48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0
118.2 205.4 271.4 278.1 188.1 80.1 49.3 34.8 22.7 30.5
-1% -5% -13% -24% -48% -105% -76% -48% -59% -27%
-2.7 -1.7 0.6 0.0 2.9 3.5 0.0 -0.3 -0.9 -1.7
153.7 252.0 316.9 301.7 204.8 95.8 59.1 42.1 31.2 38.8
130.5 132.7 138.1 140.9 147.7 149.1 143.5 142.8 141.5 134.6
284.2 384.7 455.0 442.7 352.5 244.9 202.6 184.9 172.6 173.4

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
76.4 96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
16.5 26.0 32.9 30.5 16.0 9.4 8.3 6.6 5.2 6.4
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
-0.74% 2.34% 5.65% 7.91% 6.52% 1.33% -0.53% -0.73% -1.35% -1.97%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
-0.52% 1.64% 3.95% 5.54% 4.57% 0.93% -0.37% -0.51% -0.94% -1.38%
0.00% 0.01% 0.06% 0.21% 0.36% 0.51% 0.51% 0.24% 0.12% 0.12%
Jan-13 Feb-13
34 36.2 4.546
Income Statement Nov-11 Dec-11 Jan-12 Feb-12
Gross Sales 27.2 22.1 26.2 28.9
Excise Tax 3.32 3.93 4.34
Net Sales 22.3 24.6
COGS 19.3 21.3
Gross Profit 3.0 3.3
Op Expenses 4.546 4.546
EBIT -1.6 -1.3
Dep 0.8 0.8
Interest 0.1 0.2
PBT -2.5 -2.3
Tax -0.8 -0.7
PAT -1.8 -1.6
Dividend 0 0
RE -1.8 -1.6

Balance Sheet Nov-11 Dec-11 Jan-12 Feb-12

Assets
Cash 7.6 7.5 7.5
A/C Recievable 26.7 27.74 32.9
Inventory 34.5 45.1 80.5
Total CA 68.8 80.3 120.9
Gross PPE 100.9 100.9 100.9
Accumulated Dep 14.8 15.6 16.5
Net PPE 86.1 85.3 84.4
Total Assets 154.9 165.6 205.3
Liabilities
Ac Payable 8.2 12.2 24.2
Notes Payable 8 17.2 47.3
Change from Original (%) 0% 0%
Accrued Taxes -0.9 -1.7 -2.4
TCL 15.3 27.7 69.1
Sh. Equity 139.6 137.8 136.2
Total Liabilities 154.9 165.6 205.3

Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12

Purchases 14.41 15.9 24.5 48.4
Direct Labor and Other Mfg Cost 4.9 5.4 8.3
COGS 19.3 21.3
Inventory 34.5 45.1 80.5

ROE Nov-11 Dec-11 Jan-12 Feb-12

Pre Tax ROE = EBT /Equity -1.83% -1.71%
Tax Effect = 1-Tax Rate 70.00% 70.00%
After Tax ROE(%) -1.28% -1.20%
Change from Original(pps) 0.00% 0.00%
Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
44.5 88 138.9 175.9 163.2 85.8 50.3 44.5 35.3 27.7
6.68 13.20 20.84 26.39 24.48 12.87 7.55 6.68 5.30 4.16
37.8 74.8 118.1 149.5 138.7 72.9 42.8 37.8 30.0 23.5
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
5.0 9.9 15.7 19.9 18.4 9.7 5.7 5.0 4.0 3.1
4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546 4.546
0.5 5.4 11.1 15.3 13.9 5.1 1.1 0.5 -0.6 -1.4
0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8
0.6 1.4 2.6 3.7 4.1 3.3 1.9 0.9 0.5 0.3
-0.9 3.2 7.7 10.8 9.0 1.0 -1.6 -1.3 -1.9 -2.6
-0.3 0.9 2.3 3.2 2.7 0.3 -0.5 -0.4 -0.6 -0.8
-0.7 2.2 5.4 7.6 6.3 0.7 -1.1 -0.9 -1.3 -1.8
5 0 0 5 0 0 5 0 0 5
-5.7 2.2 5.4 2.6 6.3 0.7 -6.1 -0.9 -1.3 -6.8

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
50.12 102.98 179.98 247.52 257.02 172 90.06 62.96 50.28 37.16
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3
198.2 308.9 406.2 421.8 354.7 240.3 149.1 111.0 96.2 88.9
100.9 100.9 100.9 100.9 100.9 100.9 100.9 100.9 100.9 100.9
17.3 18.2 19.0 19.8 20.7 21.5 22.4 23.2 24.0 24.9
83.6 82.7 81.9 81.1 80.2 79.4 78.5 77.7 76.9 76.0
281.7 391.6 488.1 502.8 434.9 319.7 227.6 188.7 173.0 164.9

38.2 48.4 44.9 23.6 13.8 12.2 9.7 7.6 9.4 10.0
115.6 212.2 304.4 338.5 271.4 156.7 76.3 40.7 25.2 24.1
-3% -2% -1% -2% -3% -5% -14% -27% -43% -60%
-2.6 -1.7 0.6 0.0 2.7 3.0 0.0 -0.4 -1.0 -1.7
151.2 258.9 349.9 362.1 287.9 172.0 86.0 48.0 33.6 32.3
130.6 132.8 138.2 140.8 147.0 147.8 141.6 140.7 139.4 132.6
281.7 391.6 488.1 502.8 434.9 319.7 227.6 188.7 173.0 164.9

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
76.4 96.7 89.8 47.2 27.7 24.5 19.4 15.2 18.7 19.9
16.5 26.0 32.9 30.5 16.0 9.4 8.3 6.6 5.2 6.4
32.8 64.9 102.4 129.6 120.3 63.2 37.1 32.8 26.0 20.4
140.5 198.4 218.7 166.8 90.2 60.8 51.5 40.5 38.4 44.3

Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
-0.71% 2.38% 5.60% 7.68% 6.10% 0.70% -1.13% -0.91% -1.36% -1.93%
70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00% 70.00%
-0.50% 1.67% 3.92% 5.38% 4.27% 0.49% -0.79% -0.64% -0.95% -1.35%
0.02% 0.04% 0.03% 0.04% 0.06% 0.07% 0.09% 0.11% 0.12% 0.14%
Jan-13 Feb-13
34 36.2 4.546