NON-GAAP MEASURES 9 The following table reflects the reconciliation of total revenue and net loss, both prepared in conformity with (GAAP), to the non-GAAP financial measures of total revenue before fractional aircraft sales revenue and net loss before fractional aircraft sales revenue and cost. The company believes that these non-GAAP financial measurements are useful to investors as they highlight results of operations from fleet management. These measures are supplements to accounting principles generally accepted in the United States used to prepare the Company’s financial statements and should not be viewed as a substitute for GAAP measures. In addition, the Company’s non-GAAP measures may not be the comparable to non-GAAP measures of other companies. FY2011 Q1 FY2011 Q2 FY2011 Q3 FY2011 Q4 35,782,116 $ 36,584,539 $ 36,488,593 $ 40,146,729 $ 9,197,823 8,778,578 7,720,559 7,631,525 26,584,293 $ 27,805,961 $ 28,768,034 $ 32,515,204 $ Net loss (4,814,309) $ (4,066,365) $ (956,567) $ (938,681) $ Add: Cost of fractional shares sold 8,111,445 7,526,245 6,618,110 6,900,835 Subtract: Fractional aircraft sales revenue (9,197,823) (8,778,578) (7,720,559) (7,631,525) (5,900,687) $ (5,318,698) $ (2,059,016) $ (1,669,371) $ Total revenue Fractional aircraft sales revenue Total revenue before fractional aircraft sales revenue Net loss before fractional aircraft sales revenue and cost |