Exhibit 99.1
SFX Entertainment, Inc. et al
6 Month Cash Flow Budget
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| Month 1 |
| Month 2 |
| Month 3 |
| Month 4 |
| Month 5 |
| Month 6 |
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| Forecast |
| Forecast |
| Forecast |
| Forecast |
| Forecast |
| Forecast |
| Forecast |
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Week Ending |
| Feb |
| Mar |
| Apr |
| May |
| Jun |
| Jul |
| Total |
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USD $’000s |
| 2016 |
| 2016 |
| 2016 |
| 2016 |
| 2016 |
| 2016 |
| 6 Months |
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CASH FLOW FROM OPERATIONS |
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Operating Receipts |
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North America Live |
| $ | 5,098 |
| $ | 9,228 |
| $ | 6,301 |
| $ | 10,292 |
| $ | 25,295 |
| $ | 10,706 |
| $ | 66,920 |
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Platform |
| 3,192 |
| 3,990 |
| 3,192 |
| 3,573 |
| 4,944 |
| 3,039 |
| 21,931 |
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Brand Partnership |
| — |
| — |
| — |
| — |
| 4,000 |
| — |
| 4,000 |
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Insurance Proceeds |
| — |
| 1,567 |
| — |
| 283 |
| — |
| — |
| 1,850 |
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Total Operating Receipts |
| $ | 8,290 |
| $ | 14,785 |
| $ | 9,494 |
| $ | 14,149 |
| $ | 34,239 |
| $ | 13,745 |
| $ | 94,701 |
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Operating Company Disbursements |
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North America Live |
| (9,188 | ) | (11,748 | ) | (10,547 | ) | (11,992 | ) | (18,353 | ) | (12,048 | ) | (73,876 | ) | |||||||
Platform |
| (1,981 | ) | (2,114 | ) | (8,498 | ) | (2,407 | ) | (2,067 | ) | (9,417 | ) | (26,484 | ) | |||||||
Brand Partnership |
| (221 | ) | (221 | ) | (221 | ) | (221 | ) | (221 | ) | (221 | ) | (1,328 | ) | |||||||
Insurance Payments |
| — |
| (1,074 | ) | — |
| (619 | ) | (1,569 | ) | (495 | ) | (3,757 | ) | |||||||
Capex |
| (366 | ) | (165 | ) | (111 | ) | (499 | ) | (404 | ) | (441 | ) | (1,987 | ) | |||||||
Total Operating Company Disbursements |
| (11,757 | ) | (15,322 | ) | (19,377 | ) | (15,739 | ) | (22,615 | ) | (22,623 | ) | (107,433 | ) | |||||||
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Corporate & Other Disbursements |
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Corporate Overhead |
| (1,074 | ) | (1,595 | ) | (1,074 | ) | (1,279 | ) | (1,236 | ) | (1,165 | ) | (7,423 | ) | |||||||
Corporate Obligations |
| — |
| — |
| (750 | ) | — |
| — |
| — |
| (750 | ) | |||||||
Intercompany Funding (International) |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
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Total Corporate & Other |
| (1,074 | ) | (1,595 | ) | (1,824 | ) | (1,279 | ) | (1,236 | ) | (1,165 | ) | (8,173 | ) | |||||||
Total Operating Disbursements |
| $ | (12,832 | ) | $ | (16,918 | ) | $ | (21,201 | ) | $ | (17,018 | ) | $ | (23,851 | ) | $ | (23,787 | ) | $ | (115,607 | ) |
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NET CASH FLOW FROM OPERATIONS |
| $ | (4,542 | ) | $ | (2,133 | ) | $ | (11,708 | ) | $ | (2,869 | ) | $ | 10,388 |
| $ | (10,043 | ) | $ | (20,906 | ) |
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CASH FLOW FROM FINANCING ACTIVITIES |
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Debt Repayment |
| (54,790 | ) | — |
| — |
| — |
| — |
| — |
| (54,790 | ) | |||||||
Cash Interest |
| (600 | ) | (602 | ) | — |
| (622 | ) | (306 | ) | (306 | ) | (2,436 | ) | |||||||
NET CASH FLOW FROM FINANCING ACTIVITIES |
| $ | (55,390 | ) | $ | (602 | ) | $ | — |
| $ | (622 | ) | $ | (306 | ) | $ | (306 | ) | $ | (57,226 | ) |
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CASH FLOW FROM RESTRUCTURING ACTIVITIES |
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Professional Fees |
| (4,160 | ) | (3,844 | ) | (1,271 | ) | (3,117 | ) | (2,374 | ) | (6,180 | ) | (20,945 | ) | |||||||
Interim Claims Distributions |
| (5,232 | ) | (5,032 | ) | — |
| — |
| — |
| — |
| (10,264 | ) | |||||||
Other Restructuring |
| (739 | ) | (500 | ) | — |
| — |
| — |
| (6,256 | ) | (7,495 | ) | |||||||
NET CASH FLOW FROM RESTRUCTURING ACTIVITIE |
| $ | (10,131 | ) | $ | (9,376 | ) | $ | (1,271 | ) | $ | (3,117 | ) | $ | (2,374 | ) | $ | (12,436 | ) | $ | (38,704 | ) |
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Domestic Net Cash Flow Before DIP Financing |
| $ | (70,062 | ) | $ | (12,111 | ) | $ | (12,978 | ) | $ | (6,608 | ) | $ | 7,708 |
| $ | (22,785 | ) | $ | (116,836 | ) |
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CASH BALANCES |
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Beginning Domestic Cash Balance (Book) |
| $ | 2,500 |
| $ | 10,438 |
| $ | 23,327 |
| $ | 10,349 |
| $ | 10,741 |
| $ | 18,450 |
| $ | 2,500 |
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Net Cash Flow |
| (70,062 | ) | (12,111 | ) | (12,978 | ) | (6,608 | ) | 7,708 |
| (22,785 | ) | (116,836 | ) | |||||||
DIP Account Draw |
| 78,000 |
| 25,000 |
| — |
| 7,000 |
| — |
| 5,000 |
| 115,000 |
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Ending Domestic Cash Balance (Book) |
| $ | 10,438 |
| $ | 23,327 |
| $ | 10,349 |
| $ | 10,741 |
| $ | 18,450 |
| $ | 664 |
| $ | 664 |
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DIP BALANCE |
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Total Drawn on DIP Balance |
| 78,000 |
| 103,000 |
| 103,000 |
| 110,000 |
| 110,000 |
| 115,000 |
| 115,000 |
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Cumulative PIK Interest |
| 3,150 |
| 4,043 |
| 4,043 |
| 5,361 |
| 6,046 |
| 6,737 |
| 6,737 |
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Undrawn Committed Funds |
| 37,000 |
| 12,000 |
| 12,000 |
| 5,000 |
| 5,000 |
| — |
| — |
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Total DIP & PIK Interest |
| $ | 81,150 |
| $ | 107,043 |
| $ | 107,043 |
| $ | 115,361 |
| $ | 116,046 |
| $ | 121,737 |
| $ | 121,737 |
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