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TOUCHTOP TECHNOLOGIES, INC.Statement of Projected Results of Operations Assuming Equity Financing of Approximately $2.3 Million on January 1, 1997 For Each of the Five Years Ending December 31, 2001
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1997 |
1998 |
1999 |
2000 |
2001 |
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|
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Sales: |
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|
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Gross sales: |
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License revenue |
$0 |
$20,000,000 |
$50,000,000 |
$50,000,000 |
$50,000,000 |
Support revenue |
0 |
2,777,500 |
9,165,750 |
6,666,000 |
4,999,500 |
Royalty revenue |
0 |
0 |
3,010,292 |
15,857,939 |
33,530,224 |
Total Revenue |
0 |
22,777,500 |
62,176,042 |
72,523,939 |
88,529,724 |
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|
|
|
|
|
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|
|
|
|
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Cost of sales |
0 |
1,468,499 |
2,528,601 |
3,142,051 |
3,261,376 |
Gross margin |
0 |
21,309,001 |
59,647,441 |
69,381,888 |
85,268,348 |
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Operating expenses: |
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Sales & Marketing |
0 |
4,503,393 |
12,049,966 |
14,888,936 |
19,045,587 |
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|
|
|
|
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Research & Development |
756,971 |
1,102,069 |
3,040,423 |
3,334,028 |
3,480,840 |
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|
|
|
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General and Administrative |
872,864 |
1,667,169 |
2,751,884 |
3,526,671 |
4,069,650 |
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Total Operating expenses
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1,629,835 |
7,272,631 |
17,842,273 |
21,749,635 |
26,596,077 |
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Income from operations |
(1,629,835) |
14,036,370 |
41,805,168 |
47,632,253 |
58,672,271 |
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Earnings before interest and taxes |
(1,629,835) |
14,036,370 |
41,805,168 |
47,632,253 |
58,672,271 |
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Interest expense (income): |
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|
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|
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Interest expense |
708 |
45,994 |
2,664 |
27,996 |
69,336 |
Interest income |
102,724 |
545,973 |
2,379,945 |
3,888,137 |
5,768,388 |
Net Interest expense (income) |
(102,016) |
(499,979) |
(2,377,281) |
(3,860,141) |
(5,699,052) |
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|
|
|
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Net income before taxes |
(1,527,819) |
14,536,349 |
44,182,449 |
51,492,394 |
64,371,323 |
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Taxes: |
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Federal taxes |
0 |
4,029,557 |
14,025,717 |
16,346,259 |
20,434,675 |
State taxes |
0 |
1,209,793 |
4,108,968 |
4,788,793 |
5,986,533 |
Total Taxes |
0 |
5,239,350 |
18,134,685 |
21,135,052 |
26,421,208 |
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Net income |
($1,527,819) |
$9,296,999 |
$26,047,764 |
$30,357,342 |
$37,950,115 |
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