EFTA01090675.pdf

CORE: 2010 Income Statement • Modified Cash Basis (1) (000's) Actual 'TD Net Change in Members 51 Revenue Membership - New 1.673 Membership Renewals 4.697 F&B Restaurant 1.697 F&B Events 1.739 Accomodations 325 Wellness Revenue 797 Sponsorships & Other Revenue 97 Gross Revenue 11,026 Founding Member Cr & Dscnts (591) Other Discounts & Allowances Less Discounts & Allowances (591) Net Revenue 10,435 Membership Direct Expenses 1.779 F&B Direct Costs 2.866 Accomodations Direct Expenses 211 Wellness Direct Expenses 1.038 Sponsorships & Other Revenue 25 Direct Expenses 5.920 Membership 4.591 Food & Beverage 570 Accomodations 114 Wellness (242) Sponsorships & Other Revenue 72 Discounts & Allowances (591 Gross Profit 4,516 % of Revenue 43.3% EFTA01090675 General & Admin Expenses (excl DeprlAmort) Payroll. Taxes & Benefits - Gross 4,208 Less Charged to Direct Expenses (3.399) GM Wages. Taxes & Benefits 809 Bonuses (for all elig emplyees) Contract Labor 104 GM Wages. Taxes & Benefits 913 Occupancy Costs 2.609 Professional Fees 100 Other GM Costs 561 Total GM Costs 4.183 Sales & Marketing 125 Total SG&A 4,308 Operating Profit / (Loss) 207 % of Revenue 2.0% Debt Forgiveness Restruduring Costs (One-Time Charge) Other Inoomer(Expense) Depreciation,Amortization (2,064) Property & Equipment (2,064) Start up costs, net Trademark, net of accumulated amortization Loan acquisition costs, net of accumulated amortization Other Interest Inoomei(Expense) (2) 122) Net Profit I (Loss) (1,978) % of Revenue -19.0% EFTA01090676