| Target Asset | Proposed Reg-A Money | Term Sheet Signed | Reg-A Paperwork Done | |
| Red Canvas | $1,000,000 | YES | YES | |
| Green,Inc | $750,000 | YES | YES | |
| Dog on Deck | $1,500,000 | YES | YES | |
| Naughty Girl Donuts | $150,000 | YES | YES | |
| Paul Mitchel School | $2,600,000 | YES | YES | |
| Funky Biscuit | $1,000,000 | YES | YES | |
| *Metaphor Entertainment | $1,000,000 | |||
| Individuals With Consideration | Amount | Date | |
| Scott | Schrier | $10,000 | 4/1/2016 |
| Jennifer | Weathers | $15,000 | 4/15/2016 |
| John | Weathers | $10,000 | 5/2/2016 |
| Brent | Poffenberger | $50,000 | 6/27/2016 |
| Thomas | Neville | $50,000 | 6/27/2016 |
| Berkshire Equity Group | $10,000 | 6/28/2016 | |
| Robert | Dorsey Jr | $25,000 | 7/5/2016 |
| Lee Ann | Kulina | $30,000 | 7/13/2016 |
| Timothy | Johnson | $15,000 | 7/22/2016 |
| Justin | Jarvis | $10,000 | 8/15/2016 |
| Matthew | Titus | $10,000 | 9/7/2016 |
| William | Morris | $50,000 | 9/7/2016 |
| Michael | Logsdon | $10,000 | 9/7/2016 |
| Joel | Vittori Jr | $10,000 | 9/23/2016 |
| Jonathan | Dodd | $10,000 | 11/3/2016 |
| Todd | Weller | $20,000 | 12/5/2016 |
| Chirstopher | Dinoto | $45,000 | 4/19/2017 |
SNM Global is a public company focused on the entertainment and media sector. Our goal is to acquire and cultivate assets in this space to enhance the SNM Global brand.
Metaphor Entertainment will be a wholly owned division of SNM Global Holdings consisting of singers, restaurants, and other startup entertainment ventures in a $1 million dollar raise with in Tier 1 Reg A.
March 08, 2017
SNM Global Holdings has Agreed to Terms for Entering into a Joint Venture Agreement with Green, Inc.
MIAMI BEACH, Fla., March 8, 2017 /PRNewswire/ -- SNM Global Holdings (otc- pink:SNMN) has agreed to terms for entering into a Joint Venture agreement with Green, increasing their proposed stake in the company.
Green is a cloud-based provider of closed loop digital payments technology enabling the cannabis industry with a secure, cashless way to process transactions. “With, in our opinion, the exciting potential of Green and its technology, we feel a significant increase to joint partners in the deal is a prudent investment for our company and shareholders. Raising our stake from 10% to 50% we feel will enhance our valuation and the SNM brand,” stated SNM Global CEO Troy Lowman.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Term Sheet
For Company “GREEN, Inc.” a fully compliant cashless payment system for the Legal Cannabis Industry and “SNM Global Holdings, Inc.” a public company.
Terms of the deal:
| Total Amount of Investment: | $500,000 USD |
| Schedule of Capital Delivery: | See Addendum 1 |
| Type of Investment: | Common Stock |
| Type of Security: | Common Stock |
Share Structure Following Investment (non-dilutive):
| Total Outstanding Shares: | 100,000 | 100.00% |
| Common Stock (SNM Global Holdings, Inc.): | 1,000 | 10.00% |
| Common Stock held in treasury and original shareholders: | 90,000 | 90.00% |
| Total: | 100,000 | 100.0% |
Offering
The offering consists of a non-exclusive right for SNM Global Holdings to perform a capital raise through an s-1 registration for the benefit of investing the proceeds of the raise currently a maximum of $500,000.00 USD into the private company GREEN, Inc. Final terms of the agreement are 10% of Private Equity for $500,000.00 USD
Use of Proceeds:
GREEN, Inc. shall use the proceeds from this financing for working capital purposes. This includes but not limited to expanding Technology, expanding the current platform, hiring Management as well as current and past debt obligations.
Terms and Conditions:
SNM Global Holdings, Inc. has the non-exclusive right to invest up to $500,000.00 into the private equity of GREEN, Inc. via, S-1 registration of SNM Global holdings, Inc.’s, common stock for up to 10% of the private company.
GREEN, Inc. is a private company located at 1153 Bergen Pkwy #165 Evergreen, CO. 80439. Our business consists of a fully compliant and robust cashless payment system for the Legal cannabis Industry. The system meets all State and Federal anti-money laundering laws and is FINCEN compliant. GREEN, Inc. is a Closed Loop text pay technology platform.
Note: This Term Sheet is a draft and is not legally binding to either party. Once terms are accepted an Official Term Sheet will be issued to the Company by the Public Company.
ADDENDUM 1
SNM Global Holdings, Inc. will have 2months to apply for S-1 registration and up to 4 months from date of signature to fully execute on the agreement. Failure to raise full amount will result in investment of a smaller percentage.
| Name: |  | |
| Date: | December 2, 2016 | |
| GREEN, Inc. | ||
| Name: | ||
| Date: | ||
SNM Global Holdings Inc.
GREEN, Inc.
1153 Bergen Pkwy #165 Evergreen, CO 80439
www.greentextpay.com
SNM Global Holdings, Inc.
7950 nw 53rd street, ste 337 Miami, FL.
www.SNMholdings.com
Cashless Payment Technology for the Cannabis Industry!
“In emerging markets” there are often no credit “bureaus” or infrastructure... Cash is king. This holds people and countries back. Things we take for granted are not possible.” Alex Rampell Partner, Andreessen Horowitz
ALEX MAY, CEO - ALEX@GREETEXTPAY.COM
CARL MAYBIN, COO – CARL@GREENTEXTPAY.COM
ROBERT ROSS, CHAIRMAN
Page 1
GREEN INC – OVERVIEW
WHO IS GREEN?
Green is a “provider ofcloud based Closed Loop paymentstechnology” that enables any mobile device includingtext-only phones to process financial transactions.
Green’s platform delivers online and mobile-based payment technology to mobile phone carriers, financial institutions, retail establishments, universities and other companies in the Legal Cannabis Marketplace.
REGULATORY ASSESSMENT
The Green Platform has been deemed compliant with Cole Memo and AML/KYC and FINCEN Regulations:
Green is Anti-Money Laundering (AML) and Know Your Customer (KYC) compliant supporting the needs of the regulatory and law enforcement community for your transactions.
The Platform is also FINCEN Memo 02/14/2014 FIN-2014-G001 Compliant for the processing of Cannabis transactions to assist businesses in tracking and reporting transactional data in a secure and accurate fashion.
- State Sen. Bill Colely championed a closed-loop payment system as part of HB 523, Ohio’s medical marijuana law.
Under the system, medical marijuana patients and registered caregivers can put money into special accounts at a liquor store or other state-run agency, Colely said, which are then used to make purchases.http://codes.ohio.gov/orc/3796.031v1
- Rick Riccobono is Washington’s Director of Banks. The notorious “cash only” cannabis stigma, he said, is largely mythical. The reality is more nuanced.
“People say it’s a total cash business in Colorado and Washington,” he said. “Quite the opposite. We’ve actually gotten this thing pretty far along.”
Riccobono said roughly 90 percent of all marijuana-related taxes and fees pour into the state treasury electronically, not with cash. Washington, he said, has at least three credit unions and two banks that accept money from cannabis operations. Recently, one even made a loan to a business, which Riccobono said is a first.
Banks and credit unions at first refused to handle Washington’s marijuana-related monies, including taxes and licensing fees. A cannabis business law firm and the State of Washington had the same response: take all of our money or none of it.
“The state was pretty clear. If you’re going to do any of our business, you’re going to do all of our business. But we did kind of go a round or two with them on that,” Riccobono noted with a laugh.
Still, marijuana businesses can’t pay taxes directly to Washington State with credit cards. Part of the problem is with the credit card companies themselves rather than the actual banks.http://www.alaskajournal.com/2016-08-31/alaska-banks-credit-unions-won%E2%80%99t-follow-lower-48-counterparts-bud-business#.WMHIM2Tyu2w
MARKET INTRODUCTION
Green is focused on helping remove Cash from the Cannabis industry creating a safe and federally compliant solution to the emerging $60 billion industry.
Green’s Cashless Closed Loop, Digital Payments Platform is uniquely positioned to support the global transformation in the Cannabis commerce and payments landscape being driven by expansion of Mobile Infrastructure & Cloud Technology. Green supports digital wallets with a number of specialized payment solutions that enable payments and remittances to be transacted by anyone, anywhere, anytime, either online or offline.
Page 3
Greentextpay mWallet is a secure online platform that allows virtual access to Green’s Open Loop Platform, which can be tied to business or personal payments capabilities and data in one secure platform, mWallet is a virtual, pre-paid account accessed using a mobile phone.
| 1. | COMPETITORS |
There are a variety of in-store ATM machine solutions with game tickets that you take to redeem at the counter to purchase Cannabis products. However, the future will be a Closed Loop Payment solution that complies with both State and Federal laws as defined by the Department of Treasury’s Financial Crimes Network (FINCEN)
Some examples of international market entrants are listed below.
| 1. | https://www.payqwick.com/ Payqwick is based in Seattle, WA PayQwick provides a fast, easy, discreet and safe way to make purchases at recreational marijuana retailers throughout the State of Washington. The PayQwick platform also allows producers, processors and retailers to pay each other for marijuana purchases and allows them to pay their vendors (for example, attorneys, accountants, insurance companies, utility companies, etc.) |
| 2. | https://singleseed.com/ SingleSeed Payments’ mobile Cashless ATM provides added convenience, safety, and inventory control/tracking for delivery services and busy dispensaries. Our Cashless ATM plug-and-play technology means you’ll be accepting debit cards within days of recieving your terminal. |
| 3. | www.canpaydebit.com CanPay is the only debit payment app that allows you to pay for your purchases at cannabis retailers with a simple debit to your checking account when you make a purchase. You use your debit and credit cards for purchases everywhere else, now you can enjoy the same convenience at your favorite cannabis retailers. |
| 2. | FUNDING REQUEST |
Green is seeking $2.65m with an initial tranche $1,000,000 in funding for software and technology enhancements to support rapid growth over the next two years. The balance of investment will used to develop sales staff, ongoing product development and marketing.
| ● | Green is deploying its digital payment platform to support Cashless Payments and Remittances in the projected $60 billion Cannabis Industry. |
| ● | Green’s Model is to license its private label platform tools to Partners which will use their own branding and websites and be responsible for regulatory compliance. |
| ● | Green signed a license agreement with VersiPay Technoloiges, Inc to provide Green Credits and Green Wallet billing and remittance platform with several clients. |
| ● | The Green platform will allow instant credit transfers directly to subscriber mobile wallets within its Closed Loop Platform |
| ● | VersiPay Technoloiges will enable transferring of Credits into its Global Open Loop Platform for purchases of Goods and Services |
Page 4
| 3. | BUSINESS STRATEGY |
The cannabis industry has been primarily a ‘cash only” business which has caused great harm to communities do to increased crime. The retailers and growers are not the only one’s getting robbed or burglarized, but the employees do as well.
Green can provide the entire ecosystem of the Cannabis Industry with a safe and compliant way to do business.
Green will grow market share by enlisting Agents and Resellers in the Legal Marijuana states to “own” their local markets and grow the business. Green’s Agents, and Resellers will be supported by Green’s regionalized Sales Managers, as well as, our technical support team. Currently, Green has Agents and Resellers in the following markets:
| 1. | Southern California |
| 2. | Northern California |
| 3. | Washington |
| 4. | Nevada |
| 5. | Pittsburgh |
| 6. | Miami |
| 7. | Orlando |
| 8. | Tampa |
| 9. | Detroit |
| 10. | Ohio |
The Colorado Marijuana Enforcement Division has already given Green its hands-of approval as a FINCEN compliant platform and attorneys in Michigan, Pennsylvania, California and Illinois interviewed in accordance with their state laws.
Market Focus
Green has a unique opportunity to help the Legal Cannabis marketplace with its cashless, compliant platform as the industry has sought out secure processing with compliance and auditing capabilities. Several Cannabis Law firms have commented on Green as a viable solution and are introducing clients to Green because of the current impediments to banking for those in the Cannabis industry.
| 1. | Just 220 of America’s 7,600 banks and credit unions accept money from pot businesses. |
| 2. | Effectively, this means legal pot is a cash-only business. |
| 3. | Stores have to rotate pay schedules, and many have buddy systems to walk employees to their cars to make sure they get there safely due to the amount of robberies. |
| 4. | Respected as an industry in many states, yet still treated like criminals. |
| 5. | On top of this, legal marijuana companies must pay an extra 10% on federal employee withholding taxes because they can’t pay them electronically, according a lawsuit challenging the practice cited by the Denver Post. |
Page 5
| 4. | GREEN BUSINESS FORECASTS |
| (Amounts in United States Dollars) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||||||||||||||
| Green Kredits Purchased with Credit Card | ||||||||||||||||||||
| Projected Store Base | 1,000 | 5,000 | 10,000 | 17,500 | 25,000 | |||||||||||||||
| Avg, No. of Transactions per Month pet Store | 300 | 300 | 300 | 300 | 300 | |||||||||||||||
| Avg. Value of Each Transaction | $ | 100 | $ | 100 | $ | 100 | $ | 100 | $ | 100 | ||||||||||
| Fees: Flat Rate per Transaction | $ | 3 | $ | 3 | $ | 3 | $ | 3 | $ | 3 | ||||||||||
| Fees: % Per Transaction | 3.9 | % | 3.9 | % | 3.9 | % | 3.9 | % | 3.9 | % | ||||||||||
| Fee: Monthly Store Service Fee | $ | 49.95 | $ | 49.95 | $ | 49.95 | $ | 49.95 | $ | 49.95 | ||||||||||
| Green Wallet: Product Purchases in Store | ||||||||||||||||||||
| Projected Customer Base | 300,000 | 1,500,000 | 3,000,000 | 750,000 | 1,250,000 | |||||||||||||||
| Avg. No. of Transactions per Month | 4 | 4 | 4 | 4 | 4 | |||||||||||||||
| Fees: Flat Rate per Transaction | $ | 0.50 | $ | 0.50 | $ | 0.50 | $ | 0.50 | $ | 0.50 | ||||||||||
| Gross Profit Margin | 82 | % | 82 | % | 82 | % | 82 | % | 82 | % | ||||||||||
| EBITDA Margin | 50 | % | 52 | % | 54 | % | 56 | % | 58 | % | ||||||||||
| Net Income Margin | 40 | % | 40 | % | 45 | % | 45 | % | 45 | % | ||||||||||
| 5. | APPENDIX |
MANAGEMENT TEAM
Alex May, CEO, is a determined persuasive “hunter” with a history off achieving results and contributing to the bottom line with the leading Educational Software companies in America. Alex has extensive and diverse management expertise with both start-ups and established companies that includes maintaining company objectives, strategic business development and overall financial accountability. He has an established proven track record opening new markets, channel management and implementing new growth plans for the education market and fortune 500 companies. A recognized sales and marketing leader with over 30 years solutions oriented sales experience in national and local markets.
Carl Maybin II, COO and a member of the Board of Directors. Carl Maybin was the Founder, President and Chief Executive Officer at IP Triple Communications a USA-based Federal Communications Commission licensed global Telecommunications Company. Mr. Maybin is an experienced leader and prior to founding IP Triple was the Vice President of Sales and Marketing for Mitsubishi Satellite’s SkyTiger Asia Pacific Group, Vice President of Partnership Development for International recognized start-up Cignal Global Communications who purchased his company Pegasus Integration. Cignal Global was acquired by Liberty Media’s UPC Group in the UK for $200 million in 2001 to become Europe’s first Triple Play provider of Voice, Internet and Television.
Page 6
March 2017 to December 2017 – Use of Funds
| March thru April 2017 | ||||
| Software “Private Label” upgrade Phase 1 | $ | 124,000.00 | ||
| Web-Site, mobile App social media & maintenance | $ | 10,000.00 | ||
| Web Program adjustments to Authorize.net | $ | 7,000.00 | ||
| Marketing material, development & shipping | $ | 4,500.00 | ||
| Regional Sales Development, Conferences & Travel | $ | 3,500.00 | ||
| † MJ Business Conference & Expo - Washington, DC | $ | 1500.00 | ||
| † World Cannabis Conference & Expo – Pittsburgh, PA | $ | 1500.00 | ||
| † Air, Hotel, Car Rental & Misc. | $ | 1500.00 | ||
| † Exhibit & workshop access | $ | 1500.00 | ||
| Executive Suite, Admin Assistant & Support* | $ | 6,000.00 | ||
| May thru August 2017 | ||||
| Software “Private Label” upgrade Phase 2 | $ | 160,000.00 | ||
| Web-Site, social media & maintenance* | $ | 1,200.00 | ||
| Web Program adjustments & “White Label” integration | $ | 3,500.00 | ||
| National Sales Development & Sales Assistant | $ | 8,000.00 | ||
| † Sales Admin marketing & support | $ | 6000.00 | ||
| † Travel & Regional Follow-up | $ | 3500.00 | ||
| † Air, Hotel & Car Rental & Misc. | $ | 1500.00 | ||
| † Exhibit & workshop access | TBD | |||
| September thru December 2017 | ||||
| Web Program adjustments & integration | $ | 3,500.00 | ||
| National Sales Development & Sales Assistant | $ | 8,000.00 | ||
| Regional Sales Managers | $ | 42,000.00 | ||
| † Sales Admin marketing & support | $ | 6000.00 | ||
| † Travel & Regional Follow-up | $ | 3500.00 | ||
| † Air, Hotel & Car Rental & Misc. | $ | 1500.00 | ||
| † Exhibit & workshop access | TBD | |||
| Outstanding Expenses since. Dec. 2016 to March 8, 2017 | $ | 57,000.00 | ||
Page 7
April 20, 2017
SNM Global Holdings To Acquire PAUL MITCHELL Schools; 3 Other Target Acquisitions Pending
Miami Beach, FI -- April 20, 2017 -- Investor Hub Newswire -- SNM Global Holdings (SNMN) an entertainment/media company is excited to announce they have an executed term sheet to acquire a 50% stake in two Paul Mitchell Schools from Hair Expressions Academy Inc. for agreed terms of $2.3 million to be finalized in a definitive agreement.
The schools consist of two east coast facilities (modern 16,000 sq. ft and 11,500 sq. ft. respectively) that did annual revenues of over $3.6 million. “This is a gem of an acquisition for SNM Global, an asset that already is revenue producing and looking to expand further,” states SNM Global CEO Troy Lowman. “We are keeping current upper management in place and all have the common goal of increasing revenues with new products immediately.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
SNM GLOBAL HOLDINGS, INC.
TERM SHEET
Hair Expressions Academy Inc
Rockville & Jessup, Maryland
The following is a non-binding term sheet structuring a joint venture project between SNM Global Holdings, Inc. (“SNM”) and Hair Expressions Academy Inc T/A Hair Expressions Paul Mitchell Partner School and Paul Mitchell the School - Jessup. After sale Katherine Sturm and Stephanie Brown will become Hair Expressions Academy Inc for the sake of this term sheet. The following terms are intended for building framework for the joint venture and establish an understanding between the Parties.
| Purpose | The purpose of the joint venture is to combine the efforts of funding raising, marketing and brand building capacities of SNM with Hair Expressions Academy Inc. The Parties intend to memorialize the terms of this joint venture, as amended, in a formal definitive agreement. |
| Consideration | In exchange for 50% of the total ownership of Hair Expressions Academy Inc, SNM will pay an aggregate of $4,600,000. 00, consisting of $1,600,000.00 up front cash and $700,000.00 within in one year of cash to total $2,300,000.00 for 50% towards SNM and 50% towards Hair Expressions Academy Inc. 50% of net will be paid by Hair Expressions Academy Inc. to Ed Ruiz until balance is paid in full. |
| Real Estate assets are not to be included in this joint venture, and will not be included in a definitive agreement. |
SNM GLOBAL HOLDINGS, INC.
| Responsibilities | Hair Expressions Academy Inc. shall be responsible for all school management, marketing and sales decision. Hair Expressions Academy Inc. shall also provide SNM Global timely quarterly updates via email and/or newsletter. | |
| SNM will be responsible for all accounting and fiduciary responsibilities. | ||
| Profit Share | Any and all of the net profits from Hair Expressions Academy Inc. shall be shared 50/50 between SNM Global and Hair Expressions Academy Inc. | |
| Risks | All Parties understand and agree that this joint venture carries certain risks. Neither party makes any guarantee or warranty otherwise in regards to the success of the joint venture, except those representations and warranties stated in a final definitive agreement. | |
| Representations and Warranties | In addition to standard representations and warranties, the Parties do hereby represent and warrant the following: | |
| ● | SNM hereby represents and warrants that it has the capacity, as a publicly traded company, to raise sufficient funds for the purpose of the joint venture; | |
| ● | Hair Expressions Academy Inc represents and warrants that the all products are free and clear of all liens and encumbrances and that all products are properly licensed. | |
The undersigned does hereby agree to the intent and purpose of this Term Sheet as it relates to a joint venture between SNM Global Holdings, Inc. and Hair Expressions Academy Inc. The Parties understand and agree that this terms set forth may be amended prior to entering into a definitive agreement after the parties have completed their respective due diligence.
SNM GLOBAL HOLDINGS, INC.
| SNM Global Holdings, Inc. | |||
 | 4/18/17 | ||
| Troy Lowman, President | |||
| AGREED AND ACCEPTED by: Hair Expressions Academy Inc. | |||
 | 4-13-17 | ||
| By: | Ed Ruiz | Date | |
| Title: | owner | ||
Entity No. 52-2292918
Ope id No. 039655-00/01
Duns No. ###-##-####
Naccas No. 030036-00
Hair Expressions Academy, Inc.
d/b/a Hair Expressions-Paul Mitchell Partner School
a/k/a Paul Mitchell Partner School
12450 Parklawn Drive, 2nd Floor
Rockville, Maryland 20852
Additional Location:
Hair Expressions Academy- Paul Mitchell
The School-Jessup
7351 Assateague Dr, Suite 370
Jessup, MD 20794
And
Affiliate
Wipark LLC
(Entity No# 27-3989367)
Audited Financial Statements
For The Years Ended December 31, 2015 And 2014
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
Hair Expressions Academy, Inc. and Affiliate
Audited Financial Statements
For the Year Ended December 31, 2015 and 2014
Table of Contents
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
 | David A Levy CPA PC Certified Public Accountants 20 Freeman Place Needham, Massachusetts 02492 Tel. (617) 566-3645 (866) 842-0108 Fax. (866) 681-2377 www.DALCPAPC.net |
The Board of Directors
Hair Expressions Academy, Inc.
12450 Parklawn Drive, 2nd Floor
Rockville, Maryland 20852
Report on the Financial Statements
We have audited the accompanying consolidated financial statements of Hair Expressions Academy, Inc. (Hair Expressions-Paul Mitchell Partner School-Rockville, MD and Hair Expressions-Paul Mitchell Partner The School-Jessup, MD) and Wipark LLC (hereinafter referred to as “Hair Expressions Academy, Inc.”), which comprise the consolidated balance sheets as of December 31, 2015 and 2014, and the related consolidated statements of income, changes in stockholders’ equity, and cash flows for the years then ended, and the related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America: this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained inGovernment Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
1
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Hair Expressions Academy, Inc. as of December 31, 2015 and 2014, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Other Matters
Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying footnote 13 on the Institution’s calculation of its Title IV 90/10 revenue test and footnote 9 on related party transactions are required by the U.S. Department of Education and are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying footnote 12 on the Institution’s composite score is presented for purposes of additional analysis and is not a required part of the basic financial statements.
Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
Other Reporting Required byGovernment Auditing Standards
In accordance withGovernment Auditing Standards, we have also issued our report dated June 14, 2016 on our consideration of Hair Expressions Academy, Inc.’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance withGovernment Auditing Standards in considering Hair Expressions Academy, Inc.’s internal control over financial reporting and compliance.
David A Levy CPA PC
Needham, Massachusetts
June 14, 2016
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
2
Hair Expressions Acedemy, Inc.
Consolidated Balance Sheets
As of December 31, 2015 and 2014
| 2015 | 2014 | |||||||
| Assets | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and Cash Equivalents | $ | 388,962 | $ | 244,346 | ||||
| Accounts Receivable - Students | 248,898 | 229,911 | ||||||
| Supplies Inventory | 91,976 | 92,319 | ||||||
| TOTAL CURRENT ASSETS | 729,836 | 566,576 | ||||||
| FIXED ASSETS | ||||||||
| Building and Improvements | 2,908,385 | 2,908,385 | ||||||
| Leasehold Improvements | 649,183 | 649,183 | ||||||
| Furniture, Fixtures and Equipment | 446,537 | 401,537 | ||||||
| Less: Accumulated Depreciation & Amortization | (812,150 | ) | (638,859 | ) | ||||
| Land | 871,658 | 871,658 | ||||||
| FIXED ASSETS NET | 4,063,613 | 4,191,904 | ||||||
| OTHER ASSETS | ||||||||
| Franchise Fee | 64,103 | 70,835 | ||||||
| Security Deposits | 45,515 | 45,515 | ||||||
| Total Assets | $ | 4,903,067 | $ | 4,874,830 | ||||
| Liabilities & Stockholders’ Equity | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts Payable and Accrued Expenses | $ | 139,188 | $ | 254,468 | ||||
| Deferred Tuition | 289,460 | 314,929 | ||||||
| Current Portion of Deferred Rent | 9,540 | 2,585 | ||||||
| Current Portion of Notes Payable | 310,699 | 318,038 | ||||||
| TOTAL CURRENT LIABILITIES | 748,887 | 890,020 | ||||||
| LONG TERM LIABILITIES | ||||||||
| Deferred Rent, Net of Current Portion | 7,984 | 17,524 | ||||||
| Notes Payable, Net of Current portion | 2,413,752 | 2,589,028 | ||||||
| TOTAL LONG TERM LIABILITIES | 2,421,736 | 2,606,552 | ||||||
| TOTAL LIABILITIES | 3,170,623 | 3,496,572 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common Stock, par value $1 per share, | ||||||||
| Authorized, Issued & Outstanding 2,000 shares | 2,000 | 2,000 | ||||||
| Additional Paid in Capital | 28,746 | 28,746 | ||||||
| Retained Earnings | 1,701,698 | 1,347,512 | ||||||
| TOTAL STOCKHOLDERS’ EQUITY | 1,732,444 | 1,378,258 | ||||||
| Total Liabilities & Stockholders’ Equity | $ | 4,903,067 | $ | 4,874,830 | ||||
The accompanying notes are an integral part of these financial statements
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
3
Hair Expressions Academy, Inc.
Consolidated Statements of Income
And Statements Of Stockholders’ Equity
For the Years Ended December 31, 2015 and 2014
| 2015 | 2014 | |||||||
| Revenue | ||||||||
| Earned Tuition | $ | 3,267,486 | $ | 3,231,126 | ||||
| Clinic, Retail, Books & Supplies | 495,464 | 454,614 | ||||||
| Other Income | 50,168 | 43,657 | ||||||
| TOTAL REVENUE | 3,813,118 | 3,729,397 | ||||||
| Expenses | ||||||||
| Administrative | 183,160 | 254,334 | ||||||
| Payroll & Payroll Taxes | 1,184,770 | 958,455 | ||||||
| Occupancy | 659,338 | 582,584 | ||||||
| Operating | 849,493 | 1,097,725 | ||||||
| Depreciation & Amortization | 180,023 | 154,365 | ||||||
| TOTAL EXPENSES | 3,056,784 | 3,047,463 | ||||||
| NET INCOME FROM OPERATIONS | 756,334 | 681,934 | ||||||
| Interest Expenses | 189,155 | 142,579 | ||||||
| NET INCOME FOR THE PERIOD | 567,179 | 539,355 | ||||||
| EQUITY BEGINNING OF YEAR | 1,378,258 | 1,249,120 | ||||||
| Stockholders’ Distributions | (212,993 | ) | (410,217 | ) | ||||
| Equity End of Year | $ | 1,732,444 | $ | 1,378,258 | ||||
The accompanying notes are an integral part of these financial statements
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
4
Hair Expressions Academy, Inc.
Statements of Cash Flows
For the Years Ended December 31, 2015 and 2014
| 2015 | 2014 | |||||||
| Cash Flows From Operating Activities | ||||||||
| NET INCOME | $ | 567,179 | $ | 539,355 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Amortization and Depreciation | 180,023 | 154,365 | ||||||
| Changes in Operating Assets and Liabilities: | ||||||||
| Accounts Receivable | (18,987 | ) | (10,067 | ) | ||||
| Inventory | 343 | 978 | ||||||
| Accounts Payable and Accrued Expenses | (115,280 | ) | 194,922 | |||||
| Deferred Tuition | (25,469 | ) | 21,528 | |||||
| Deferred Rent | (2,585 | ) | 4,099 | |||||
| Cash Provided by Operating Activities | 585,224 | 905,180 | ||||||
| Cash Flows From Investing Activities | ||||||||
| Acquisition of Equipment Furniture & Fixtures | (45,000 | ) | (37,000 | ) | ||||
| Cash Used by Investing Activities | (45,000 | ) | (37,000 | ) | ||||
| Cash Flows From Financing Activities | ||||||||
| Notes Payable | (182,615 | ) | (252,870 | ) | ||||
| Stockholders’ Distributions | (212,993 | ) | (410,217 | ) | ||||
| Cash Used by Financing Activities | (395,608 | ) | (663,087 | ) | ||||
| Change in Cash and Cash Equivalents | 144,616 | 205,093 | ||||||
| Beginning Cash Balance January 1, | 244,346 | 39,253 | ||||||
| Ending Cash Balance December 31, | $ | 388,962 | $ | 244,346 | ||||
| Supplementary Cash Flow Information | ||||||||
| Cash Paid for: | ||||||||
| Interest Expenses | $ | 189,155 | $ | 142,579 | ||||
The accompanying notes are an integral part of these financial statements
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
5
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For The Year Ended December 31, 2015 And 2014
Note 1: Nature of Business & Summary of Significant Accounting Policies
Hair Expressions-Paul Mitchell Partner School is a Corporation, was formed in February 2001 and was incorporated in the State of Maryland in December, 2001. The principle activity of the Institution is the teaching of students in the field of Cosmetology (1500 hours) and Esthetics (600 hours). The activities of the Institution also include clinic and sales of products to students and customers and other miscellaneous sales. The Institution is licensed to offer education with the state of Maryland, and is licensed by Maryland Higher Education Commission (MHEC) State Board of Cosmetology, as a Private Career School. The Institution is approved by the United States Department of Education for participation in the Federal Title IV Student Financial Assistance Programs and is accredited by The National Accrediting Commission of Career Arts and Sciences (NACCAS). The Institution opened a new location, Hair Expressions-Paul Mitchell The School-Jessup in 2012 where similar services are provided.
A) Basis of Accounting
The Financial Statements are prepared on the accrual basis of accounting in accordance with the U.S. generally accepted accounting principles.
B) Revenue and Cost Recognition
The Institution bills tuition throughout the period of enrollment and recognizes the revenue on a pro rata basis over the period of instruction. As of the end of the fiscal year, the Institution had tuition from academic periods where the associated revenue has not yet been earned in accordance with GAAP. Accordingly, these amounts have been recorded as unearned tuition in the accompanying balance sheets.
If a student withdraws from the Institution, the standards of the U.S. Department of Education, the state education authority, the accrediting commission that accredit the Institution and the Institution’s own internal policies (collectively, “Refund Policies”) limit a student’s obligation for tuition and fees to the school depending on when the student withdraws during the period of enrollment. The greater the portion of the enrollment period that has elapsed at the time the student withdraws, the greater the student’s obligation to the school. The Institution records revenue after applying all applicable refund policies.
C) Cash and Cash Equivalents
For purposes of reporting cash flows, cash equivalents include highly liquid assets with an original maturity of three months or less. Highly liquid assets include cash and due from banks, federal funds and certificates of deposit.
D) Concentrations of Credit Risk
The Institution maintains its cash balances at various local financial institutions. Accounts at these institutions are insured by the Federal Deposit Insurance Corporation.
E) Inventory
Inventory consists of goods purchased primarily for resale to the public. It is stated at the lower of cost or market.
David A. Levy - Certified Public: Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
6
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 1: Nature of Business & Summary of Significant Accounting Policies
F)Property and Equipment
Property and Equipment are stated at cost, net of accumulated depreciation. The cost of property and equipment is depreciated over the estimated useful lives of the related assets. Depreciation and amortization are computed on the straight-line method over the estimated useful asset lives.
G)Advertising Costs
Advertising costs, except for direct-response advertising, are charged to operations when incurred. The costs of direct-response advertising are capitalized and amortized over the period during which future benefits are to be received. There were no direct-response advertising costs for the current fiscal year.
H)Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual amounts could differ from those estimates.
I)Concentration of Economic Dependency
The Institution derives a significant portion of its revenue from student financial assistance originating from the U.S. Department of Education’s Title IV Higher Education Act of 1965. For the students to receive financial assistance at the Institution, it must maintain eligibility requirements established by the U.S. Department of Education.
J)Subsequent Events
The Institution evaluates subsequent events through June 14, 2016 the date of this report. No material subsequent events have occurred that require recognition or disclosure in these financial statements.
K)Uncertain Tax Positions
The company accounts for uncertain tax positions in accordance with FASB ASC 740.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
7
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 1: Nature of Business & Summary of Significant Accounting Policies
L)Fair Value Measurement
The Institution reports its qualified assets and liabilities in accordance with the Fair Value Measurements and Disclosure Standards and accounting principles generally accepted in the United States. These standards define fair value, establish a framework for measuring fair value, and expand disclosures about fair value measurements. This policy establishes a Fair Value framework that prioritizes the inputs and assumptions used to measure fair value. The three levels of the fair value hierarchy and a description of the valuation techniques used for instruments measured at fair value are as follows:
| ● | Level 1- Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities as of the reporting date. |
| ● | Level 2- Pricing inputs other than quoted prices included in Level 1, which are either directly observable or that can be derived or supported from observable data as of the reporting date. |
| ● | Level 3- Pricing inputs include those that are significant to the fair value of the financial asset or financial liability and are generally less observable from objective sources. These inputs may be used with internally developed techniques that result in management’s best estimate of fair value. |
A qualifying asset or liability’s level within the framework is based upon the lowest level of any input that is significant to the fair value measurement. The Institution’s qualifying assets or liabilities are recorded at fair value using Level 1 inputs.
M)Reclassification
The presentation of certain prior year balances has been reclassified to conform to the current year presentation.
Note 2: Accounts Receivable & Bad Debts
Accounts Receivable at the balance sheet date consist of amounts related to revenue from current or former students for classes that have been completed, or obligations of current students for tuition in progress for which payment has not been received in accordance with the GAAP. If a student withdraws from the Institution, the standards of the U.S. Department of Education, the state education authority, the accrediting commission that accredit the Institution and the Institution’s own internal policies (collectively, “Refund Policies”) limit a student’s obligation for tuition and fees to the school depending on when the student withdraws during the period of enrollment. The greater the portion of the enrollment period that has elapsed at the time the student withdraws, the greater the student’s obligation to the school. The Institution records revenue after applying all applicable refund policies.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
8
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 2: Accounts Receivable & Bad Debts
The Institution maintains an allowance for doubtful accounts and has established a reserve based on the likelihood of collection. As of December 31, 2015 and 2014, the allowance for uncollectable accounts was $13,100 and 12,100 respectively.
As of December 31, 2015, the following table represents the remaining contracts vs the accrual method reported in accordance with GAAP.
| Contract | Accrual | Contract vs Accrual | ||||||||||
| Accounts Receivable | 1,857,017 | 261,998 | 1,595,019 | |||||||||
| Deferred Tuition | 1,884,479 | 289,460 | 1,595,019 | |||||||||
Note 3: Fixed Assets
The major classifications of fixed assets as of December 31, 2015 and 2014 consist of the following:
| Estimated Life | 2015 | 2014 | ||||||||
| Building and Improvements | 5-7 Years | 2,908,385 | 2,908,385 | |||||||
| Leasehold Improvements | 10 Years | 649,183 | 649,183 | |||||||
| Furniture, Fixtures and Equipment | 446,537 | 401,537 | ||||||||
| Less: Accumulated Depreciation & Amortization | (812,150 | ) | (638,859 | ) | ||||||
| Land | 871,658 | 871,658 | ||||||||
| Net Fixed Assets | $ | 4,063,613 | $ | 4,191,904 | ||||||
| Depreciation & Amortization for the Year | $ | 180,023 | $ | 154,365 | ||||||
Note 4: Other Assets
The Institution paid an initial franchise fee of $85,000 to Paul Mitchell for the Jessup location with monthly fees of $1,600 for the first year, $2,600 for the second year and $3,100 monthly thereafter. As of December 31, 2015 and 2014, the balance of Franchise Fee (net of amortization) was $ 64,103 and $70,835 respectively.
The Institution has a security deposit of $45,515 with the landlord as of December 31, 2015 and 2014.
Note 5: Refunds and Repayments to The U.S. Department of Education
As of December 31, 2015 and 2014, there were no unpaid refunds to the U.S. Department of Education or to lenders who issued SFA loans. Accordingly, no part of the current liabilities consists of repayment obligations. The Institution processes and posts students’ refunds within 45 days of the date a student withdraws or is terminated from the school. The Institution has no monetary obligations as a result of the most recent SFA audit and there are currently no outstanding obligations due to the U.S. Department of Education.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
9
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 6: Accounts Payable and Accrued Expenses
Asof December 31, 2015 and 2014, the institution had accounts payable and accrued expenses of $139,188 and $254,468 respectively.
Note7:Income Taxes
Hair Expressions Academy, Inc. has elected to be treated as an S-Corporation for Federal tax purposes. As a Sub Chapter S Corporation, the Institution is treated as a non-taxable entity for federal income tax purposes. As an S Corp, no federal income tax expense has been recorded for the Institution as the owners report their share of the Institution’s taxable income on their individual tax returns.
Wipark, LLC is treated as a non-taxable entity for federal income tax purposes. As an LLC, no federal income tax expense has been recorded for the entity as the member reports her share of the entity’s taxable income on her individual tax returns.
David A Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
10
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 8: Lease Obligations
In May 2011 the officer purchased the building where the academy is located in Rockville, Maryland under the separate and solely owned entity, Wipark LLC. The rent expense paid by the Institution to the related party for the year ended December 31, 2015 and 2014 was $386,115 and $347,843 respectively, which has been eliminated in the consolidated statement.
The Institution leased its premises at Jessup, Maryland in August 2012 for five years with two five year renewal options from a non related party.
Total Occupancy expenses during the fiscal year ended December 31, 2015 and 2014 were $659,338 and $ 582,584 of which the rent expense was $254,819 and $175,127 respectively.
Future Minimum Rent payments to the Jessup location including payment to Wipark LLC as of December 31, 2015 are as follows:
| Year | Amount | ||||
| 2016 | $ | 180,759 | |||
| 2017 | 107,863 | ||||
| $ | 288,622 | ||||
The Institution recognizes rent expense on a straight-line basis over the life of the lease. The difference between rent expense recognized and rental payments, as stipulated in the lease, is reflected as deferred rent in the consolidated statements of financial position. As of December 31, 2015 and 2014 the deferred rent liability balance was $17,524, and $20,109 respectively. This comprised of current portion of $9,540 and $2,585 and long term portion of $7,984 and $17,524 respectively.
Note 9: Related Party Transactions
Hair Expressions Academy, Inc. derives a substantial portion of its revenues from Student Financial Aid (SFA) received by its students under the Title IV programs administered by the U.S. Department of Education pursuant to the Higher Education Act of 1965, as amended (HEA). Hair Expressions Academy, Inc. must comply with the regulations promulgated under the HEA. Those regulations require that all related party transactions be disclosed, regardless of their materiality to the financial statements.
During the year ended December 31, 2015 and 2014, the Institution paid $386,115 and $347,843 in rent to the related party Wipark LLC. As of December 31, 2015 and 2014, there was $20,000 receivable and payable between the two entities. Both balances have been eliminated in the consolidated statement.
This information is required by the U.S. Department of Education and is presented for purposes of additional analysis and is not a required part of the basic financial statements.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
11
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 10: Notes Payable
The Institution had notes payable as of December 31, 2015 and 2014 as detailed below:
| 2015 | 2014 | ||||||||||||||||||||||||
| Loan Description | Short Term | Long Term | Total | Short Term | Long Term | Total | |||||||||||||||||||
| Hair Expressions Academy, Inc | |||||||||||||||||||||||||
| Business Loan from Untied Bank, Original amount 350,000, issued on July 6, 2012 for 5 years with 7% interest rate, Maturity Date is November 6, 2017. | $ | 75,794 | $ | 36,197 | $ | 111,991 | $ | 70,684 | $ | 117,823 | $ | 188,507 | |||||||||||||
| Business (LOC) Loan from Untied Bank, Original amount 150,000, issued for 2 years with 5.5% interest rate, Maturity Date is September 7, 2016. | 58,157 | 75,714 | 133,871 | 73,950 | 54,421 | 128,371 | |||||||||||||||||||
| Business Loan from Untied Bank for 184 months with 7% interest rate, Maturity Date is June 15, 2020 | 37,658 | 167,094 | 204,752 | 37,285 | 198,756 | 236,041 | |||||||||||||||||||
| Line of Credit with United Bank - Original Loan Limit $50,000 | — | 35,380 | 35.380 | — | — | — | |||||||||||||||||||
| Wipark, LLC | |||||||||||||||||||||||||
| Wells Fargo, N.A.-Loan SBA 504 Program for 20 years with 3.79% interest rate, Maturity Date is July 2031 | 69,337 | 950,887 | 1,020,224 | 67,826 | 999,511 | 1,067,337 | |||||||||||||||||||
| Business Loan from Untied Bank for 184 months with 4.5% interest rate, payable $2,688.79 per month, Maturity Date is June 15, 2020 | 69,753 | 1,148,480 | 1,218,233 | 68,293 | 1,218,517 | 1,286,810 | |||||||||||||||||||
| TOTAL | $ | 310,699 | $ | 2,413,752 | $ | 2,724,451 | $ | 318,038 | $ | 2,589,028 | $ | 2,907,066 | |||||||||||||
Future Maturities of Debt as of December 31, 2015 are as follows:
| Year | Short Term | Long Term | Total | |||||||||
| 2016 | $ | 310,699 | $ | 310,699 | ||||||||
| 2017 | 327,806 | $ | 327,806 | |||||||||
| 2018 | 184,398 | $ | 184,398 | |||||||||
| 2019 | 188,398 | $ | 188,398 | |||||||||
| 2020 | 1,046,615 | $ | 1,046,615 | |||||||||
| 2021 & Thereafter | 666,536 | $ | 666,536 | |||||||||
| Total | $ | 310,699 | $ | 2,413,752 | $ | 2,724,451 | ||||||
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
12
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 11: Cohort Default Rate
According to the USDOE, an Institution is not considered to be administratively capable, if its cohort default rate for Federal Stafford/SLD Loan or for Direct Loans made to students for attendance at the school equals or exceeds 30% for the three most recent financial years, or if the most recent cohort default rate is greater than 40%. The Institution must continue to have a default management plan in effect if it equals or exceeds threshold. Currently, the 3-year Cohort Default Rate published online by the USDOE for the Institution is 17.3% (FY 2012).
This information is presented for purposes of additional analysis and is not a required part of the basic financial statements.
Note 12: Financial Responsibility Composite Score
The U.S. Department of Education will determine an Institution to be financially responsible if the school has a composite score of at least 1.5, the school has sufficient cash reserves to make the required refunds, including the return of Title IV funds (these requirements are known as therefund reserve standards), the school is current in its debt payments, and the school is meeting all of its financial obligations, including making required refunds, including the return of Title IV funds and making repayments to cover FSA program debts and liabilities.
Composite score
The composite score standard combines different measures of fundamental elements of financial responsibility to yield a single measure of a school’s overall financial responsibility. This score, which has not been calculated by the U.S. Department of Education, is currently 2.3 for the fiscal year 2015 as detailed below:
| Type | Ratio | Weight | Weighted Ratio | |||||||||
| Primary Reserve | 2.0283 | 30 | % | 0.6085 | ||||||||
| Equity | 2.0686 | 40 | % | 0.8275 | ||||||||
| Net Income | 3.0000 | 30 | % | 0.9000 | ||||||||
| Composite Score | 2.3 | |||||||||||
For the fiscal year 2014 this ratio was 1.6. This information is presented for purposes of additional analysis and is not a required part of the basic financial statements.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
13
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 13: 90/10 Revenue Test
Hair Expressions Academy, Inc. derives a substantial portion of its revenues from Student Financial Aid (SFA) received by its students under the Title IV programs administered by the U.S. Department of Education pursuant to the Higher Education Act of 1965, as amended (HEA). The regulations restrict the proportion of cash receipts for tuition and fees from eligible programs to not more than 90% from the Title IV programs. If the Institution fails to meet the 90% limitation, this will result in the loss of the Institution’s ability to participate in SFA Programs.
For the year ended December 31, 2014, Hair Expressions Academy, Inc. received $2,454,365 of Title IV funds, total eligible cash receipts of $3,574,175 resulting in a percentage of 68.67%.
For the year ended December 31, 2015. Hair Expressions Academy, Inc. received $2,518,919 of Title IV funds, total eligible cash receipts of $3,795,100 resulting in a percentage of 66.37%.
| 90-10 Analysis: Revenue By Source- Cash Basis | ||||||||
| Subsidized Loan | $ | 747,047 | ||||||
| Unsubsidized loan | 1,012,727 | |||||||
| Pell | 748,519 | |||||||
| Seog (less match) | 10,626 | |||||||
| FWS (less match) | — | |||||||
| Total Student Title IV Revenue | 2,518,919 | |||||||
| Revenue Adjustment | — | |||||||
| Adjusted Student Title Iv Revenue | 2,518,919 | |||||||
| Non Title IV Grant Funds | 64,280 | |||||||
| Non Title IV Contractual Funds- | — | |||||||
| Savings Plan Funds | — | |||||||
| Institutional Scholarship | — | |||||||
| Over ECASLA limit Unsub loans | — | |||||||
| Student Payments | 716,094 | |||||||
| Total Student Non-Title Iv Revenues | 780,374 | |||||||
| Clinic / Training Activities | 495,807 | |||||||
| Non- Title IV programs tuition | — | |||||||
| NPV of Instiutional loans | — | |||||||
| Revenues From Other Sources | 495,807 | |||||||
| Total Adj. Student Title IV Revenue | 2,518,919 | |||||||
| Total Adj. Student Title IV Revenue | $ | 2,518,919 | ||||||
| Student Non IV Revenue | 780,374 | |||||||
| Other Source Revenue | 495,807 | $ | 3,795,100 | |||||
| 90/10 Ratio | 66.37 | % | ||||||
This information is required by the U.S. Department of Education and is presented for purposes of additional analysis and is not a required part of the basic financial statements.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
14
Hair Expressions Academy, Inc.
Notes to the Financial Statements
For the Year Ended December 31, 2015 and 2014
Note 14: Profitability, Acid Test Ratio And Net Worth
Profitability
The Institution’s profitability for the current and past two audit years were as follows:
| Description | 2015 | 2014 | 2013 | |||||||||
| Gross Income | $ | 3,813,118 | 3,729,397 | 2,481,456 | ||||||||
| Total Expenses (excluding Taxes) | (3,245,939 | ) | (3,190,042 | ) | (2,301,042 | ) | ||||||
| Profit before Tax | 567,179 | 539,355 | 180,414 | |||||||||
| Tax Expenses | — | — | — | |||||||||
| Net Profit After Taxes | $ | 567,179 | 539,355 | 180,414 | ||||||||
Acid Test Ratio
As of December 31, 2015 and 2014 the Institution’s acid test ratio was as detailed below:
| Description | 2015 | 2014 | ||||||
| Current Assets | $ | 729,836 | 566,576 | |||||
| Current Liabilities | 748,887 | 890,020 | ||||||
| Acid Test Ratio | 0.97:1 | 0.64:1 | ||||||
Tangible Net Worth
The tangible net worth of the Institution as of December 31, 2015 and 2014 was as detailed below:
| Description | 2015 | 2014 | ||||||
| Total Assets | $ | 4,903,067 | 4,874,830 | |||||
| Less: Total Liabilities | (3,170,623 | ) | (3,496,572 | ) | ||||
| Equity | 1,732,444 | 1,378,258 | ||||||
| Less: Intangible Assets | (64,103 | ) | (70,835 | ) | ||||
| Tangible Net Worth | $ | 1,668,341 | 1,307,423 | |||||
This information is presented for purposes of additional analysis and is not a required part of the basic financial statements.
Note 15: Consolidation of Variable Interest Entities
The consolidated financial statements include the accounts of Hair Expressions Academy, Inc. and its consolidated entity Wipark LLC and are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company consolidates variable interest entities (“VIEs”) for which the Company is the primary beneficiary.
Wipark LLC was formed in November, 2010, for the purpose of acquiring and owning real estate occupied by the Hair Expressions Academy, Inc. All activities for the LLC have been reported in the enclosed financial statements, and all intercompany activities have been eliminated.
The management of the consolidated Hair Expressions Academy, Inc. determined that the Institution is the primary beneficiary of the variable interest entity Wipark LLC, and as such, requires consolidation with this entity under ASC 810.
Please refer to the supplementary information at the end of this report for the consolidating balance sheets and income statements for these two entities.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
15
 | David A Levy CPA PC Certified Public Accountants 20 Freeman Place Needham, Massachusetts 02492 Tel. (617) 566-3645 (866) 842-0108 Fax. (866) 681-2377 www.DALCPAPC.net |
Report on Internal Control Over Financial Reporting And on Compliance and on
Other Matters Based on an Audit of Financial Statements Performed in
Accordance With Government Auditing Standards
(No Material Weaknesses Identified, No Significant Deficiencies Identified, No Reportable
Instances of Noncompliance or Other Matters Identified)
Independent Auditors Report
The Board of Directors
Hair Expressions-Paul Mitchell Partner School
and Affiliate
12450 Parklawn Drive, 2nd Floor
Rockville, Maryland 20852
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained inGovernment Auditing Standards issued by the Comptroller General of the United States, the financial statements of the activities, as of and for the year ended December 31, 2015 and 2014, and the related notes to the financial statements, which collectively comprise Hair Expressions Academy, Inc.’s basic financial statements, and have issued our report thereon dated June 14, 2016.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered Hair Expressions Academy, Inc.’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Hair Expressions Academy, Inc.’s internal control. Accordingly, we do not express an opinion on the effectiveness of Hair Expressions Academy, Inc.’s internal control.
Adeficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis.
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
16
Amaterial weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of Hair Expressions Academy, Inc.’s financial statements will not be prevented, or detected and corrected on a timely basis.
Asignificant deficiency is a deficiency or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over financial reporting was for the limited purpose as noted above of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance And Other Matters
As part of obtaining reasonable assurance about whether Hair Expressions Academy, Inc.’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance withGovernment Auditing Standards in considering the entity’s internal control and compliance. This communication is intended solely for the information and use of the U.S. Department of Education and the management of Hair Expressions Academy, Inc. and is not intended to be and should not be used by anyone other than these specified parties.
David A Levy CPA PC
Needham, Massachusetts
June 14, 2016
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
17
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
18
| David A Levy CPA PC Certified Public Accountants 20 Freeman Place Needham, Massachusetts 02492 Tel. (617) 566-3645 (866) 842-0108 Fax. (866) 681-2377 www.DALCPAPC.net |
Independent Auditors’ Report
on Consolidating Information
The Board of Directors
Hair Expressions-Paul Mitchell Partner School
and Affiliate
12450 Parklawn Drive, 2nd Floor
Rockville, Maryland 20852
We have audited the consolidating financial statements of Hair Expressions Academy, Inc. (Hair Expressions-Paul Mitchell Partner School-Rockville MD and Hair Expressions-Paul Mitchell Partner The School-Jessup) and Wipark LLC, as of and for the year ended December 31, 2015, and our report thereon dated June 14, 2016, which expressed an unmodified opinion on these consolidated financial statements as appears on page one of this report. Our audits were conducted for the purpose of forming an opinion on the consolidated financial statements as a whole. The consolidating balance sheet and statement of income and statement of stockholder’s equity are presented for purposes of additional analysis and are not a required part of the consolidated financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements. The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the consolidated financial statements as a whole.
David A Levy CPA PC
Needham, Massachusetts
June 14, 2016
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
19
Hair Expressions Acedemy, Inc.
Consolidating Balance Sheet
As Of December 31, 2015
| Hair Expressions Academy, Inc. | Wipark LLC | Elimination | 2015 | |||||||||||||
| ASSETS | ||||||||||||||||
| CURRENT ASSETS | ||||||||||||||||
| Cash and Cash Equivalents | $ | 369,391 | $ | 19,571 | $ | 388,962 | ||||||||||
| Accounts Receivable - Students | 248,898 | — | 248,898 | |||||||||||||
| Supplies Inventory | 91,976 | — | 91,976 | |||||||||||||
| Due to/from Affiliate | 20,000 | — | (20,000 | ) | — | |||||||||||
| TOTAL CURRENT ASSETS | 730,265 | 19,571 | 729,836 | |||||||||||||
| FIXED ASSETS | ||||||||||||||||
| Building and Improvements | 497,391 | 2,410,994 | 2,908,385 | |||||||||||||
| Leasehold Improvements | 649,183 | — | 649,183 | |||||||||||||
| Furniture, Fixtures and Equipment | 446,537 | — | 446,537 | |||||||||||||
| Less: Accumulated Depreciation | (567,204 | ) | (244,946 | ) | (812, 150) | |||||||||||
| Land | 125,000 | 746,658 | 871,658 | |||||||||||||
| FIXED ASSETS NET | 1,150,907 | 2,912,706 | 4,063,613 | |||||||||||||
| OTHER ASSETS | ||||||||||||||||
| Franchise Fee etc | 64,103 | — | 64,103 | |||||||||||||
| Security Deposits | 45,515 | — | 45,515 | |||||||||||||
| OTHER ASSETS | 109,618 | — | 109,618 | |||||||||||||
| TOTAL ASSETS | $ | 1,990,790 | $ | 2,932,277 | $ | 4,903,067 | ||||||||||
| LIABILITIES & EQUITY | ||||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||||
| Accounts Payable and Accrued Expenses | $ | 139,188 | $ | — | $ | 139,188 | ||||||||||
| Deferred Tuition | 289,460 | — | 289,460 | |||||||||||||
| Due to/from Affiliate | — | 20,000 | (20,000 | ) | — | |||||||||||
| Current Portion of Notes Payable | 171,609 | 139,090 | 310,699 | |||||||||||||
| Current Portion of Deferred Rent | 9,540 | — | 9,540 | |||||||||||||
| TOTAL CURRENT LIABILITIES | 609,797 | 159,090 | 748,887 | |||||||||||||
| LONG TERM LIABILITIES | ||||||||||||||||
| Deferred Rent, Net of Current Portion | 7,984 | — | 7,984 | |||||||||||||
| Notes Payable, net of current portion | 314,385 | 2,099,367 | 2,413,752 | |||||||||||||
| TOTAL LONG TERM LIABILITIES | 322,369 | 2,099,367 | 2,421,736 | |||||||||||||
| TOTAL LIABILITIES | 932,166 | 2,258,457 | 3,170,623 | |||||||||||||
| STOCKHOLDERS’ EQUITY | ||||||||||||||||
| Common Stock, par value $1 per share, | ||||||||||||||||
| Authorized, Issued & Outstanding 2,000 shares | 2,000 | — | 2,000 | |||||||||||||
| Additional Paid in Capital | 28,746 | — | 28,746 | |||||||||||||
| Retained Earnings | 1,027,878 | 673,820 | 1,701,698 | |||||||||||||
| TOTAL STOCKHOLDERS’ EQUITY | 1,058,624 | 673,820 | 1,732,444 | |||||||||||||
| TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY | $ | 1,990,790 | $ | 2,932,277 | $ | 4,903,067 | ||||||||||
See the Independent Auditor’s Report on Consolidating Information
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
20
Hair Expressions Acedemy, Inc.
Consolidating Statement Of Income
And Statement Of Stockholders’ Equity
For The Year Ended December 31, 2015
| Hair Expressions Academy, Inc. | Wipark LLC | Eliminations | 2015 Consolidated | |||||||||||||
| REVENUE | ||||||||||||||||
| Earned Tuition | $ | 3,267,486 | — | $ | 3,267,486 | |||||||||||
| Clinic, Retail, Books & Supplies | 495,464 | — | 495,464 | |||||||||||||
| Other Income | 45,668 | 390,615 | (386,115 | ) | 50,168 | |||||||||||
| TOTAL REVENUE | 3,808,618 | 390,615 | 3,813,118 | |||||||||||||
| EXPENSES | ||||||||||||||||
| Administrative | 183,160 | — | 183,160 | |||||||||||||
| Payroll & Payroll Taxes | 1,184,770 | — | 1,184,770 | |||||||||||||
| Occupancy | 659,338 | — | 659,338 | |||||||||||||
| Operating | 1,094,922 | 140,686 | (386,115 | ) | 849,493 | |||||||||||
| Depreciation & Amortization | 104,391 | 75,632 | 180,023 | |||||||||||||
| TOTAL EXPENSES | 3,226,581 | 216,318 | 3,056,784 | |||||||||||||
| NET INCOME FROM OPERATIONS | 582,037 | 174,297 | 756,334 | |||||||||||||
| Interest Expenses | 63,540 | 125,615 | 189,155 | |||||||||||||
| NET INCOME FOR THE PERIOD | 518,497 | 48,682 | 567,179 | |||||||||||||
| EQUITY BEGINNING OF YEAR | 753,120 | 625,138 | $ | 1,378,258 | ||||||||||||
| Stockholders’ Distributions | (212,993 | ) | — | (212,993 | ) | |||||||||||
| EQUITY END OF YEAR | $ | 1,058,624 | $ | 673,820 | $ | 1,732,444 | ||||||||||
See the Independent Auditor’s Report on Consolidating Information
David A. Levy - Certified Public Accountants - P.C.
Members: American Institute of Certified Public Accountants, TIN: 04-3139309
21
Hair Expressions Academy, Inc.
Income Statement
For the Twelve Months Ending December 31, 2016
| Current Month | Year to Date | |||||||||||||||
| Revenues | ||||||||||||||||
| Student Tuition | $ | 3,351,089.85 | 92.73 | $ | 3,351,089.85 | 92.73 | ||||||||||
| Student Tuition Refunds | (197,298.59 | ) | (5.46 | ) | (197,298.59 | ) | (5.46 | ) | ||||||||
| Public Product Sales | 55,922.55 | 1.55 | 55,922.55 | 1.55 | ||||||||||||
| Public Services | 356,656.89 | 9.87 | 356,656.89 | 9.87 | ||||||||||||
| Client Refunds | (247.00 | ) | (0.01 | ) | (247.00 | ) | (0.01 | ) | ||||||||
| Rental Income | 47,565.00 | 1.32 | 47,565.00 | 1.32 | ||||||||||||
| Interest Income | 18.92 | 0.00 | 18.92 | 0.00 | ||||||||||||
| Other Income | 20.00 | 0.00 | 20.00 | 0.00 | ||||||||||||
| Total Revenues | 3,613,727.62 | 100.00 | 3,613,727.62 | 100.00 | ||||||||||||
| Cost of Sales | ||||||||||||||||
| Wages | 997,970.82 | 27.62 | 997,970.82 | 27.62 | ||||||||||||
| Guest Instructors | 40,200.00 | 1 .11 | 40,200.00 | 1 .1 1 | ||||||||||||
| Student Kits | 125,769.87 | 3.48 | 125,769.87 | 3.48 | ||||||||||||
| Teaching Supplies | 18,082.29 | 0.50 | 18,082.29 | 0.50 | ||||||||||||
| Beauty Supplies | 223,897.89 | 6.20 | 223,897.89 | 6.20 | ||||||||||||
| Backbar Supplies | 13,500.00 | 0.37 | 13,500.00 | 0.37 | ||||||||||||
| Total Cost of Sales | 1,419,420.87 | 39.28 | 1,419,420.87 | 39.28 | ||||||||||||
| Gross Profit | 2,194,306.75 | 60.72 | 2,194,306.75 | 60.72 | ||||||||||||
| Expenses | ||||||||||||||||
| Payroll Taxes | 86,984.51 | 2.41 | 86,984.51 | 2.41 | ||||||||||||
| Rent | 664,399.52 | 18.39 | 664,399.52 | 18.39 | ||||||||||||
| Copier Lease | 31.28 | 0.00 | 31.28 | 0.00 | ||||||||||||
| Accounting | 1,600.00 | 0.04 | 1,600.00 | 0.04 | ||||||||||||
| Advertising | 34,034.82 | 0.94 | 34,034.82 | 0.94 | ||||||||||||
| Amortization Expense | 5,667.00 | 0.16 | 5,667.00 | 0.16 | ||||||||||||
| Bank Charges | 690.50 | 0.02 | 690.50 | 0.02 | ||||||||||||
| Charitable Contributions | 23,535.00 | 0.65 | 23,535.00 | 0.65 | ||||||||||||
| Corporate Overhead | 783.31 | 0.02 | 783.31 | 0.02 | ||||||||||||
| Credit Card Fees | 16,391.76 | 0.45 | 16,391.76 | 0.45 | ||||||||||||
| Entertainment | 3,573.97 | 0.10 | 3,573.97 | 0.10 | ||||||||||||
| Depreciation Expense | 40,390.00 | 1.12 | 40,390.00 | 1.12 | ||||||||||||
| Dues & Subscriptions | 2,005.20 | 0.06 | 2,005.20 | 0.06 | ||||||||||||
| Financial Aid Expense | 40,218.00 | 1.11 | 40,218.00 | 1.11 | ||||||||||||
| Insurance-Employee Health | 1,220.96 | 0.03 | 1,220.96 | 0.03 | ||||||||||||
| Insurance - Liability & Hazard | 32,406.99 | 0.90 | 32,406.99 | 0.90 | ||||||||||||
| Legal & Professional | 24,075.62 | 0.67 | 24,075.62 | 0.67 | ||||||||||||
| Licenses | 2,274.61 | 0.06 | 2,274.61 | 0.06 | ||||||||||||
| Maintenance | 7,916.17 | 0.22 | 7,916.17 | 0.22 | ||||||||||||
| Marketing and Printing | 9,946.58 | 0.28 | 9,946.58 | 0.28 | ||||||||||||
| Miscellaneous | 343,803.07 | 9.51 | 343,803.07 | 9.51 | ||||||||||||
| NACCAS Expenses | 4,359.00 | 0.12 | 4,359.00 | 0.12 | ||||||||||||
| Postage & Shipping | 2,890.47 | 0.08 | 2,890.47 | 0.08 | ||||||||||||
| Repairs | 6,105.72 | 0.17 | 6,105.72 | 0.17 | ||||||||||||
| Supplies - Cleaning | 13,080.45 | 0.36 | 13,080.45 | 0.36 | ||||||||||||
For Management Purposes Only
Hair Expressions Academy, Inc.
Income Statement
For the Twelve Months Ending December 31, 2016
| Current Month | Year to Date | |||||||||||||||
| Supplies - Maintenance | 2,089.49 | 0.06 | 2,089.49 | 0.06 | ||||||||||||
| Supplies - Office | 5,763.26 | 0.16 | 5,763.26 | 0.16 | ||||||||||||
| Taxes -Personal Property | 1,596.52 | 0.04 | 1,596.52 | 0.04 | ||||||||||||
| Taxes - Real Estate | 6,243.77 | 0.17 | 6,243.77 | 0.17 | ||||||||||||
| Telephone | 2,949.69 | 0.08 | 2,949.69 | 0.08 | ||||||||||||
| Travel - Training | 4,593.05 | 0.13 | 4,593.05 | 0.13 | ||||||||||||
| Utilities - Electric & Water | 60,878.01 | 1.68 | 60,878.01 | 1.68 | ||||||||||||
| Utilities - TCI /ATT, Cable | 12,992.97 | 0.36 | 12,992.97 | 0.36 | ||||||||||||
| Utilities - Gas | 1,938.48 | 0.05 | 1,938.48 | 0.05 | ||||||||||||
| Vehicles | 8,195.54 | 0.23 | 8,195.54 | 0.23 | ||||||||||||
| Interest Expense | 8,628.47 | 0.24 | 8,628.47 | 0.24 | ||||||||||||
| Total Expenses | 1,484,253.76 | 41.07 | 1,484,253.76 | 41.07 | ||||||||||||
| Net Income | $ | 710,052.99 | 19.65 | $ | 710,052.99 | 19.65 | ||||||||||
For Management Purposes Only
SNM GLOBAL HOLDINGS CONTINUES TO EXPAND THEIR DINING EXPERIENCE...
| FOR IMMEDIATE RELEASE: | SOURCE: BRASH WORLDWIDE |
(New York, NY- 4/27/17)- SNM Global Holdings a publicly traded entertainment/media company announced today that SNM Global has added the Naughty Girls Donut Shop brand to their burgeoning investment portfolio.
SNM Global Holdings, CEO, Troy Lowman has just entered into an expansion agreement with the 18 year old donut shop owner, Tiana Ramos, who made national headlines in 2015 when her shop was boycotted by a group of religious extremist. This acquisition is set to propel the donut shop brand into a household name with shops opening across the country every 6 months.
In a recent press conference, SNM Global Holdings, CEO, Troy Lowman, stated,“SNM Global Holdings is very excited about joining forces with this budding enterprise. Naughty Girls Donut Shop has a great product and has become an attractive destination to sweet- treat aficionados. Our partnership with the company will help Tiana to enhance the Naughty Girl Donut’s consumer experience while tapping into new markets.
The company further reports that Natalie Ramos, Tiana’s mother, will be taking on an executive role in this expansion agreement. The Johnson & Wales graduate will be lending 15+ years of corporate experience in marketing and operations in the culinary and dining industry to help foster a successful expansion of the Naughty Girls brand. At press time Natalie states,“Naughty Girls Donut Shop is dear to my heart. I have been here with my daughter from its inception. SNM Global Holdings truly understands our brand identity and wants to maintain our brand integrity through this expansion. Naughty Girls Donut Shop has always been more than just an eaterv in 12 short month’s the shop had become a safe haven for teens and a resource in the community. We can’t wait to offer this experience to consumers across the globe.
Further details of the investment have not been disclosed but further reports indicate that the first shop will be opening in Georgetown, D.C, where the brand hosted it’s most successful pop up shop. Naughty Girls Donut Shop has earned national attention. The L.A Times, Huffington Post, MTV Networks, ABC News, and more have written about them.
About SNM Global Holdings (SNMN) –
SNM is a publicly traded company that specializes in the Entertainment and Media sector. Their mission is to acquire assets in this sector to enhance the SNM brand.
About Naughty Girls Donut Shop:
Naughty Girls Donut Shop is a Rockabilly business inspired by America’s favorite pin up girls. The donuts have been sold at Balducci Gourmet Grocery stores, Whole Foods Markets, game complex’s, and at shopping malls on the east coast. The brands specially curated doughnut collections have been featured at the MTV Movie Awards, The Billboard Awards, Access Hollywood, and events alike. The shop is owned by the 18-year old Tiana Ramos and Mother Natalie Ramos. The mother daughter duo have been featured by Access Hollywood, Entertainment Tonight, L.A Times, Fox News, Huffington Post, ABC News, NBC News, and more. The shop is fueled by a troop of teens who suit up daily in themed costumes to create an authentic Americana Pastry Experience. For more information on the Naughty Girls Donut Shop brand please visitwww.naughtygirlsdonut.com.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
For media inquiries please contact:
Natalie Ramos
Nramos0925@gmail.com
(571) 420-4049
Naughty Girl Donut Shop
SNM GLOBAL HOLDINGS, INC.
TERM SHEET
Naughty Girl’s Donut Shop
The following is a non-binding term sheet for structuring a joint venture project between SNM Global Holdings, Inc. (“SNM”) and Naughty Girl’s Donut Shop (NGD). The following terms are intended for building a frame work for the joint venture and establish an understanding between the Parties.
| Purpose | The purpose of the joint venture is to combine the efforts of funding raising, marketing and brand building capacities of SNM with NGD. The Parties further intend to finance the design and buildout of a retail location in Washington D. C., and future associated projects. The Parties intend to memorialize the terms of this joint venture, as amended, in a formal definitive agreement. | |
| Consideration | In exchange for 50% of the total ownership of Naughty Girl‘s Donut shop, SNM will pay an aggregate of $150,000.00 in cash, to be paid within thirty days of signing a formal definitive agreement. | |
| Use of Proceeds | Funds will he used for, inventory, equipment, retail lease, sales support, marketing materials, print ads and distribution of products. | |
| Responsibilities | NGD. shall be responsible for all menu, marketing and sales decision. | |
| NGD shall provide promotional samples and marketing materials at zero cost to SMN for marketing and promotional purpose. In addition, NGD shall provide SNM Global timely quarterly updates via email and/or newsletter. | ||
| SNM will he responsible for all accounting and fiduciary responsibilities. | ||
| Profit Share | Any and all of the net profits from the sale of NGD products shall be shared 50/50 between SNM Global and NGD. |
SNM GLOBAL HOLDINGS, INC.
| Risks | All Parties understand and agree that this joint venture corries certain risks. Neither party makes any guarantee or warranty otherwise in regards to the success of the joint venture, except those representations and warranties stated in a final definitive agreement. | ||
| Representations and Warranties | In addition to standard representations and warranties, the Parties do hereby represent and warrant the following: | ||
| ☐ | SNM hereby represents and warrants that it has the capacity, as a publicly traded company, to raise sufficient funds for the purpose of the joint venture; | ||
| ☐ | NGD represents and warrants that the all products are free and clear of all liens and encumbrances and that al products are properly licensed and permitted to alcohol sales in all relevant jurisdictions, including, but not limited to, the United States Alcohol and Tobacco Tax and Trade Bureau. NGD is the sole owner of Naughty Girl’s Donut Shop and all derivative rights, including, but not limited to, licensing, distribution, trademarks, and content. | ||
The undersigned does hereby agree to the intent and purpose of this Term Sheet as it relates to a joint venture between SNM Global Holdings, Inc. and Naughty Girl’s Donut Shop. The Parties understand and agree that this terms set forth may be amended prior to entering into a definitive agreement after the parties have completed their respective due diligence.
SNM GLOBAL HOLDINGS, INC.
| SNM Global Holdings, Inc. | |
 | |
| Troy Lowman, President |
AGREED AND ACCEPTED by:
Natalie Ramos, CEO
Naughty Girl’s Donuts
 | 4/20/17 | ||
| By: | Date | ||
| Title: | CEO | ||
April 24, 2017
SNM Global To Enter Into $1 Million Term Sheet With Funky Biscuit; Will File A Tier 1 Reg A To Complete Acquisitions
MIAMI BEACH, Fla., April 24, 2017 /PRNewswire/ -- SNM Global Holdings an entertainment/media company has come to terms with Funky Biscuit in a future $1 million joint venture expansion project to expand the Funky Biscuit brand.
Established in 2011, The Funky Biscuit is South Florida’s premiere destination for live entertainment and dining. They showcase all genres of national, regional, and local artists. The brand has a reputation of excellence around the globe and regularly attracts artists and patrons from nearly every continent.
“With our future joint venture expansion project with The Funky Biscuit, we have diversified our assets into the musical and dining industry in a very high end and well known way. The expansion of their brand we feel will be a very lucrative and exciting endeavor,” states CEO Troy Lowman.
SNM Global will now start the process of filing a Tier 1 Reg A filing to fund its projects.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Established in 2011, The Funky Biscuit is South Florida’s premiere destination for live entertainment and dining. The Funky Biscuit showcases all genres of national, regional and local artists. We have been honored and privileged to have showcased many great artists over the last six years including Gregg Allman, Leon Russell, Johnny Winter, Susan Tedeschi, George Porter Jr., Cyril Neville, Edwin McCain, Jeff Lorber, Jon Cleary, Snarky Puppy, The Revivalists, Tab Benoit, and Phil Vassar and just to name a few. Whether it’s Soul, New Orleans Funk, Jazz, Blues, Rock n Roll, Country or Comedy, The Funky Biscuit is the one and only place to see and hear these amazing artists in a comfortable, intimate setting with top-notch sound and lights. Our brand and reputation for excellence is recognized around the globe, regularly attracting artists and patrons from nearly every continent.
SNM GLOBAL HOLDINGS, INC.
TERM SHEET
Funky Biscuit Ventures, LLC
The following is a non-binding term sheet for structuring a joint venture project between SNM Global Holdings, Inc. (“SNM”) and Funky Biscuit Ventures, LLC. (“FBV”). The following terms are intended for building a frame work for the joint venture and establish an understanding between the Parties.
| Purpose | The purpose of’the joint venture is to combine the efforts of fundraising, marketing, brand building and financial management capacities of SNM with FBV in the expansion of Funky Biscuit Ventures, LLC. The Parties intend to memorialize the terms of’this joint venture, as amended, in a formal definitive agreement. |
| Consideration | In exchange for 50% of the total ownership of FBV, SNM will pay FBV $1,000,000.00, cash. |
| Use of Proceeds | Funds will be used to support the expansion of Funky Biscuit Ventures, LLC located at 303 SE Mizner Blvd Royal Palm Place, Boca Raton, FL 33432, and future expansion of FBV subsidiaries |
| Responsibilities | FBV shall be responsible for all operations, food service, management and marketing and sales decisions. |
| FBV shall also provide SNM Global timely quarterly updates via email and/or newsletter, and allow access to online reports of all sales. | |
| SNM will be responsible for all accounting and fiduciary responsibilities. |
SNM GLOBAL HOLDINGS, INC.
| Profit Share | Any and all of the net profits shall be shared 50/50 between SNM Global and the Funky Biscuit Ventures, LLC. | |
| Risks | All Parties understand and agree that this joint venture carries certain risks. Neither party makes any guarantee or warranty otherwise in regards to the success of the joint venture, except those representations and warranties stated in a final definitive agreement. | |
| Representations and Warranties | In addition to standard representations and warranties, the Parties do hereby represent and warrant the following: | |
| ☐ | SNM hereby represents and warrants that it has the capacity, as a publicly traded company, to raise sufficient funds for the purpose of the joint venture; | |
| ☐ | FBV represents and warrants that the all products are free and clear of’all liens and encumbrances and that Funky Biscuit Ventures, LLC or its subsidiaries are properly licensed and permitted to serve food and beverages in accordance with State and local laws. | |
SNM GLOBAL HOLDINGS, INC.
The undersigned does hereby agree to the intent and purpose of this Term Sheet as it relates to a joint venture between SNM Global Holdings, Inc. and Funky Biscuit Ventures, LLC. The Parties understand and agree that this terms set forth may be amended prior to entering into a definitive agreement after the parties have completed their respective due diligence.
| SNM Global Holdings, Inc. | |||||
 | 4/18/17 | ||||
| Troy Lowman, President | |||||
AGREED AND ACCEPTED by: | |||||
 | 4/18/2017 | ||||
| By: | Albert J. Poliak | Date | |||
| Title: | President | ||||
August 17, 2016
Jay Adams Partners with SNM Global to launch “Money Fight” Movie
LAS VEGAS, NV August 17, 2016
Historic Brendan Theatre will hold the partnership’s first joint project as United Fight Alliance (“UFA”) Founder and CEO Jordan “Jay” Adams will host and carry the television coverage for the MMA movie premiere of “Money Fight.” The brand new action thriller launches inside Las Vegas’ Landmark Palms Hotel and Casino this Friday night.
Money Fight, starring Ernie Reyes Jr., a story of redemption, is charged with authentic mixed martial arts. Other familiar faces starring in the movie are George Takei, MMA Legend Frank Shamrock, Sara Downing, and UFC Veteran Gray Maynard. Viewers will experience both emotional and physical battles in this full-contact action drama.
“We’re excited to be teaming up with SNM. They have a great track record and a solid, well planned roll out. This first project is great,” stated Adams. “The film is timed to release with UFC 202 so the fighters can drive across the bridge after the weigh-ins, get some great food, re-hydrate and watch a non-stop, authentic, adrenaline filled, action packed fight movie,” he added.
SMN Global Holdings Founder and CEO Troy Lowman stated,“SNM in collaboration with UFA is excited to bring you the Red Carpet viewing of “Money Fight” at the Palms Resort in Las Vegas on Friday night August 19, 2016. SNM Global plans to release Money Fight in wider distribution this fall. UFA enhances our ability to reach out to an audience that we are targeting for the movie. Their involvement will make our Red Carpet event very exciting.”
Adams says he loves doing shows in Las Vegas.“Vegas has arguably the best fighters in the world. I say arguably because I know California, New Mexico and Florida will argue with that! The city also has some of the best video production companies in the world as well. I always know I will get a great TV show out of Sin City.”
About “Money Fight”- Starring Ernie Reyes JR, Ving Rhames, Sara Downing, MMA Legend Frank Shamrock, UFC Veteran Gray Maynard, Mathias Hues, Maxim Model Fernanda Romero, Maria Conchita Alonzo, John Savage and George Takei is a full-contact action drama that shatters emotional boundaries. The film is loaded with authentic mixed martial arts and layered with dynamic heart-to-heart combat. It is a story of redemption. Viewers consider the story victorious and transcending. For more information on the movie and to view the official movie trailer please visit “Money Fight Movie”.
About SNM Global Holdings (SNMN)- SNM is a publicly traded company that specializes in the Entertainment and Media sector. Their mission is to acquire assets in this sector to enhance the SNM brand.
About United Fight Alliance (UnitedFightAlliance.com.)- UFA is a one-hour MMA program that brings you the best MMA from around the world. Watch as some of the biggest names in MMA fight toe to toe in the cage and you’ll see exclusive footage, interviews and fighter profiles. United Fight Alliance features top ranked fighters, women’s fights, intense action and more. UFA and its network of shows including Brawl Call, a thirty minute MMA magazine style, behind the scenes show, are now broadcast to over 115 million homes, airing on ROOT SPORTS, SportsNet New York, Cox Spots Television, Comcast Sports Net - Chicago, Tuff TV and nationally on DIRECTV, Dish Network and ATT U-Verse. UFA airs internationally on HBO Plus. You can also find UFA at your favorite sports bars throughout the nation. Check your local listings for ROOT SPORTS, Cox Spots Television, Comcast Sports Net - Chicago and TUFF TV. Tune in on DIRECTV to channel 658, 683 or 687, on Dish Network to channel 414, 426 or 428 and on ATT U-Verse to channel 1730, 1760 or 1764. For more information on UFA or Brawl Call, contact info@BrawlCall.com or go to United FightAlliance.com or www.BrawlCall.com.
SNM GLOBAL HOLDINGS, INC.
TERM SHEET
RED CANVAS – MONEY FIGHT RELEASE
The following is a non-binding term sheet for structuring a joint venture project between SNM Global Holdings, Inc. (“SNM”) and Red Canvas Film Productions LLC (“Red Canvas”) regarding the proposed release of the film titled “Money Fight” (hereinafter the “Film”). It is the intention of the parties to provide cooperating efforts in order to have a successful release of the Film. The following terms are intended for building a frame work for the joint venture and establish an understanding between the Parties.
| Purpose | The purpose of the joint venture is to combine the efforts of funding raising capacities of SNM with the film production and finished product of Red Canvas in order to stage a premiere, a successful limited 6 week release to run in 6-10 western United States markets (approximately 500 theaters), and thereafter expand the release, DVD release, license the Film, or otherwise monetize the Film. The Parties intend to memorialize the terms of this joint venture, as amended, in a formal definitive agreement. | |
| Financing | It is understood by the Parties that in order to successfully release the Film, it is imperative that the joint venture raises sufficient funds to a) fund the premier of the film; and b) put the film into limited release. The total estimated costs are expected to be approximately $2,000,000.00. | |
| Use of Proceeds | [please lay out] | |
| Responsibilities | SNM shall be responsible for raising a sum total of at least $1,000,000.00 through the sale its common stock or other legal means. The funds will be raised over a period of 12 months and distributed per the Use of Proceeds. The funds shall be treated as equity ownership equal to 50% of the Red Canvas. | |
| Red Canvas shall provide access to the Film and advise and manage all aspects of staging a premier, limited and full release, distribution and marketing of the Film. | ||
| Profit Share | Profits shall be shared as follows: | |
| ● | Until such time that the funds raised by SNM are repaid, any and all returns on the sale, distribution, licensing, sales of DVDs, or any profits derived from the Film (the “Profits’) shall be paid 80% to SNM and 20% to Red Canvas; | |
SNM GLOBAL HOLDINGS, INC.
| ● | Once all funds have been repaid to SNM and until all debts currently owed by Red Canvas are paid, Profits shall be paid 20% to SNM and 80% shall be paid to Red Canvas, unless, per the Debt Option below, SNM purchases those debts owed by Red Canvas. | |
| ● | Upon repayment to SNM and all debts owed to by Red Canvas, Profits forever more shall 50% paid to SNM and 50% to Red Canvas. | |
| Debt Options | It is understood that Red Canvas currently owes certain amounts to various investors who originally supported the productions of the Film amounting to approximately $5,000,000.00. The Parties agree that it is in the best interest of all Parties have SNM purchase, in part or whole, those outstanding debts. The Parties, therefore, agree to cooperate in negotiating terms for the purchase by SNM of all Red Canvas debt. Any portion of debt purchased, shall be attributed to funds raised for purposes of distributions of profits. | |
| Risks | All Parties understand and agree that this joint venture carries certain risks. Neither party makes any guarantee or warranty otherwise in regards to the success of the joint venture, except those representations and warranties stated in a final definitive agreement. | |
| Representations and Warranties | In addition to standard representations and warranties, the Parties do hereby represent and warrant the following: | |
| ● | SNM hereby represents and warrants that it has the capacity, as a publicly traded company, to raise sufficient funds for the purpose of the joint venture; | |
| ● | Red Canvas represents and warrants that the Film is a complete film available for distribution and showings, immediately and that Red Canvas is the sole owner of the Film and all derivative rights, including, but not limited to, licensing, distribution, trademarks, and content. | |
SNM GLOBAL HOLDINGS, INC.
The undersigned does hereby agree to the intent and purpose of this Term Sheet as it relates to a joint venture between SNM Global Holdings, Inc. and Red Canvas Film Production, LLC. The Parties understand and agree that this terms set forth may be amended prior to entering into a definitive agreement after the parties have completed their respective due diligence.
SNM Global Holdings, Inc.
 | |
| Troy Lowman, President |
| AGREED AND ACCEPTED by: | |||
| Red Canvas Film Production, LLC | |||
 | 6/11/16 | ||
| By: | Kenneth Chamitoff | Date | |
| Title: | President | ||
| 2009 | ||||||||||||||||||||||||||||||
| YEAR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | TOTAL | LOANS = | $ | 888,000,00 | plus interest | ||||||||||||||||||
| LES CONNARD | $ 1,665,000.00 | INVESTORS | 157 | 110000 | LLC = | $ | 4,000,000.00 | |||||||||||||||||||||||
| AVERAGE | $ | 25,477.71 | ||||||||||||||||||||||||||||
| HAN KIM | 215000 | EQUITY % | ||||||||||||||||||||||||||||
| 7/2/2007 | Han Kim | $ | 30,000.00 | $ | 50,000.00 | $ | 80,000.00 | 2.000000% | ||||||||||||||||||||||
7/2/2007 | BUI Darlas | $ | 30,000.00 | $ | 30,000.00 | 0.750000% | ||||||||||||||||||||||||
10/19/2007 | Jose Esparsa | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
1/29/2008 | Mi Kim | $ | 40,00.00 | $ | 40,000.00 | 1.000000% | ||||||||||||||||||||||||
4/30/2008 | Gilbert Flores | $ | 15,000.00 | $ | 15,000.00 | 0.375000% | ||||||||||||||||||||||||
5/23/2008 | Stephen Asbury | $ | 10,000.20 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
6/5/2008 | Jannki Mithaiwala | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
7/3/2008 | Harry Cosmatos | $ | 10,00.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| WILLIAM CARDENAS | $ | 122,500.00 | 0.000000% | |||||||||||||||||||||||||||
| 1/7/2008 | William Cardenas | $ | 5,000.00 | $ | 5,000.00 | $ | 10,000.00 | 0,250000% | ||||||||||||||||||||||
8/11/2008 | Daniel Ramirez | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
4/22/2008 | Darin farris | $ | 5,000.00 | $ | 5,000,00 | 0.125000% | ||||||||||||||||||||||||
| 5/5/2008 | Alvin Lopez | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | ||||||||||||||||||||||||
| 4/4/2008 | Edgar Orlino | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | ||||||||||||||||||||||||
| 6/25/2008 | Alfred Parker | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| RUBEN CARDENAS | $ | 10,00.00 | $ | 5,000,00 | $ | 15,000.00 | 0.375000% | |||||||||||||||||||||||
| 5/27/2009 | “Ryan Davis | $ | 15,000.00 | $ | 15,00,00 | 0.375000% | ||||||||||||||||||||||||
| 6/17/2009 | “ - Dan Awad | $ | 7,500.00 | $ | 7,500.00 | 0.187500% | ||||||||||||||||||||||||
6/15/2009 | “ -Jose Rios | $ | 15,000.00 | $ | 15,000.00 | 0.375000% | ||||||||||||||||||||||||
6/15/2009 | “Heribierto Barboza | $ | 7,500.00 | $ | 7,500.00 | 0.187500% | ||||||||||||||||||||||||
6/15/2009 | “ Neeran Herfi | $ | 7,500.00 | $ | 7,500.00 | 0.187500% | ||||||||||||||||||||||||
6/15/2009 | Joshua Bunce | $ | 7,500.00 | $ | 7,500.00 | 0.187500% | ||||||||||||||||||||||||
11/1/2010 | Raymond Friedrichson | $ | 30,000,00 | $ | 30,000.00 | 0.750000% | ||||||||||||||||||||||||
11/15/2010 | Carol Marie Fredrickson | $ | — | 0.000000% | ||||||||||||||||||||||||||
| DR. BOUCHEREAU | $ | — | 0.000000% | |||||||||||||||||||||||||||
| 10/19/2007 | Ray Bouchereau | $ | 140,000.00 | $ | 140,000.00 | 3.500000% | ||||||||||||||||||||||||
| 5/21/2008 | MiChael Boucheroux | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| roger renner | $ | — | 0.000000% | |||||||||||||||||||||||||||
| 10/20/2007 | Roger Renner | $ | 20,000.00 | $ | 10,000.00 | $ | 30,000.00 | 0.750000% | ||||||||||||||||||||||
| 5/22/2008 | Frederick D Renner | $ | 10,00.00 | $ | 10,000.00 | 2.500000% | ||||||||||||||||||||||||
| LES CONNARD | ||||||||||||||||||||||||||||||
| 7/2/2007 | Concrete Slurry | $ | 30,000.00 | $ | 70,000.00 | $ | 100,000.00 | 2.500000% | ||||||||||||||||||||||
| 7/8/2007 | Bryce McGlone | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 7/17/2007 | Lisa Flach | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 7/21/2007 | Jim LeVegue | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 7/22/2007 | Taki Papadatos | $ | 10,000.00 | $ | 10,000.00 | 2.500000% | ||||||||||||||||||||||||
| 7/23/2007 | Karin Solano | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 7/23/2007 | Les Connard | $ | 110,000.00 | $ | 50,000.00 | $ | (10,000.00) | $ | 150,000.00 | 3.750000% | ||||||||||||||||||||
| Maria Virgina Polasek | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 7/23/2007 | Oscar Stagel | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 7/23/2007 | Bill Birkholz | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 8/2/2007 | Kathy Buckler | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 8/28/2007 | Reg Cawley | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 10/15/2007 | Tim Sullivan | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 10/19/2007 | Kevin James Berry | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 10/19/2007 | Bill Wood | $ | 40,000.00 | $ | 40,000.00 | 1.000000% | ||||||||||||||||||||||||
| 11/l/2007 | Mark Chemelesky | $ | 25,000.00 | $ | 10,000.00 | $ | 35,000.00 | 0.875000% | ||||||||||||||||||||||
| 11/4/2007 | Dulake | $ | 40,000.00 | $ | 20,000.00 | $ | 10,000.00 | $ | 70,000.00 | 1.750000% | ||||||||||||||||||||
| 11/8/2007 | Roy Saenz | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 11/15/2007 | Leslie Neuser | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 11/20/2007 | jim Deaton | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 11/25/2007 | J. Schickel | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 11/26/2007 | Steve Lode | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 11/30/2007 | Thousand Oaks Corp | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 12/3/2007 | Ron Coburn | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 12/27/2007 | Wayne Bali | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 1/7/2008 | John Cantrell | $ | 5,000.00 | $ | 5,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||
| 1/19/2008 | Michael Rickey | $ | 15,000.00 | $ | 10,000.00 | $ | 25,000.00 | 0.625000% | ||||||||||||||||||||||
| 1/19/2008 | Greg Flores | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 1/29/2008 | Ron Thomas | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 2/1/2008 | James wine | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||
| 2/5/2008 | Stephen Tonelli | $ | 30,000.00 | $ | 30,000.00 | 0.750000% | ||||||||||||||||||||||||
| 1/14/2008 | Paul Weber | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| 5/22/2008 | Gregory O’Sullivan | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | ||||||||||||||||||||||||
| 6/2/2008 | Crystal Hiros | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| Greg Mutart | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| Chad Schmidt | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| 6/6/2008 | jack Burk | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 6/2/2008 | Mark Zakowski | $ | 20,000.00 | $ | 20,000.00 | $ | 40,000.00 | 1.000000% | |||||||||||||||||||||||
| 6/23/2008 | Winona Taylor | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 7/21/2008 | Jeffrey Aleman | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 11/30/2008 | Rudy Aguilar | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 1/15/2008 | O.P.AImaraz | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| Frank Paglia | $ | 15,000.00 | $ | 15,000.00 | 0.375000% | ||||||||||||||||||||||||||
| Diana Brown | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | ||||||||||||||||||||||||||
| 9/18/2009 | John Kucerea | $ | 10,000:00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 9/19/2009 | Dave Delegradelle | $ | 6,667.00 | $ | 6,667.00 | 0.166675% | |||||||||||||||||||||||||
| 9/19/2009 | Paul Burlingham | $ | 6,667.00 | $ | 6,667.00 | 0.166675% | |||||||||||||||||||||||||
| 9/19/2009 | Ken Haston | $ | 6,666.00 | $ | 6,666.00 | 0.166650% | |||||||||||||||||||||||||
| 12/31/2009 | Joe Ciaglia | $ | 10,000.00 | $ | 10,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||
| 3/15/2010 | Trisha K M Szto | $ | 10,000,00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 4/14/2010 | Jeffrey A Kreipl | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 5/2/2010 | Lisa Cleeland Carreia | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 4/19/2010 | John Connard | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 4/19/2010 | Wendon Inc | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| NEED | Wendy Ferguson | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| on file | Yuna Shi | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| on file | Chan Pech | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| NEED | DJ Shepard | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| ADAM BOSTER | |||||||||||||||||||||||||||||||
| 11/1/2007 | Adam Boster | $ | 50,000,00 | $ | 100,000.00 | $ | 50,000.00 | $ | 145,000.00 | $ | 50,000.00 | $ | 5,000.00 | $ | 400,000.00 | 10.000000% | |||||||||||||||
| 11/5/2007 | Bill Howe | $ | 20,000,00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 11/8/2007 | Stephen Ray | $ | 10,000.00 | $ | 10,000.00 | $ | 10,000.00 | $ | 30,000.00 | 0.750000% | |||||||||||||||||||||
| 12/3/2007 | Ed Vought (12) | $ | 10,000.00 | $ | 10.000.00 | 0.250000% | |||||||||||||||||||||||||
| 12/3/2007 | Mark Going | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 12/26/2007 | Lex Dooley | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 1/15/2008 | Jay Flottman | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 1/15/2008 | Shane Nelson | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 3/10/2008 | C.L. Grote | $ | 30,000.00 | $ | 30,000.00 | 0.750000% | |||||||||||||||||||||||||
| 5/27/2908 | Jesse Langviile | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 6/24/2008 | Walker Long | $ | 20,000,00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 7/4/2008 | Tom Royball | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 4/15/2009 | Thomas Bock | $ | 7,500.00 | $ | 7,500.00 | 0.187500% | |||||||||||||||||||||||||
| 12/19/2007 | Jade Hockman | $ | 10.000.00 | $ | 15,000.00 | $ | 5,000.00 | $ | 30,000.00 | 0.750000% | |||||||||||||||||||||
| 9/11/2009 | Holcomb | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 9/14/2009 | Engelbrect | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| 12/10/2009 | Pat McMurry | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 12/10/2009 | David Jatho | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 12/23/2009 | Bottomline Investment | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| missing | NEED | Mary Theonen | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||
| Lance Neff / Broken Arrow Farms | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||||
| Vivek Puri | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||||
| Theresa Potts | $ | 5,000,00 | $ | 500.00 | $ | (500.00) | $ | 5.000.00 | 0.125000% | ||||||||||||||||||||||
| 5/20/2010 | Brice M Spencer | $ | 2,500.00 | $ | 2,500.00 | 0.062500% | |||||||||||||||||||||||||
| 5/20/2010 | Christopher R Tobin | $ | 2.500.00 | $ | 2,500.00 | 0.062500% | |||||||||||||||||||||||||
| 5/20/2010 | Eugene Gruender | $ | 2,500.00 | $ | 2,500.00 | 0.062500% | |||||||||||||||||||||||||
| 5/20/2010 | Robert W Evans | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| Carl Theonen??? | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | ||||||||||||||||||||||||||
| Mike Pittman | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||||||
| KEN CHAMITOFF | $1,120,000.00 | $ | — | ||||||||||||||||||||||||||||
| 11/1/2010 | Russle Berns / Saphire Paz Group | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 7/1/2007 | Thomas Holland | $ | 20,000.00 | $ | (10,000.00 | ) | $ | 10,000.00 | 0.250000% | ||||||||||||||||||||||
| 8/18/2007 | Mark Nagle | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 11/23/2007 | Kenneth Chamitoff | $ | 50,000.00 | $ | 100,000.00 | $ | 37,500.00 | $ | 167500.00 | $ | (100,000.00) | $ | 18,000.00 | $ | (23,000.00) | $ | 250,000.00 | 6.250000% | |||||||||||||
| 11/23/2007 | Greg Chamitoff | $ | 50,000.00 | $ | — | $ | 50,000.00 | 1.250000% | |||||||||||||||||||||||
| 11/23/2007 | Shari Chamitoff | $ | 20,000.00 | $ | 40,000.00 | $ | 140,000.00 | $ | $20,000.00 | $ | 30,000.00 | $ | (30,000.00) | $ | 220,000.00 | 5.500000% | |||||||||||||||
| 2/7/2008 | William Robinson | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 6/27/2008 | Shane Rahn | $ | 20,000,00 | $ | 1,000.00 | $ | 21,000.00 | 0.525000% | |||||||||||||||||||||||
| 6/6/2009 | Maria Pino | $ | 15,000.00 | $ | 15,000.00 | 0.375000% | |||||||||||||||||||||||||
| 8/15/2009 | Michael Shea | $ | 15,000.00 | $ | 5,000.00 | $ | — | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||
| 9/18/2009 | Charles Provinsal | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| 11/15/2009 | Michael Giovanini | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 11/16/2009 | Stephen Hardy | $ | 10,000.00 | $ | 10,000.00 | 0.250000% | |||||||||||||||||||||||||
| 12/2/2009 | Andrew schultz | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 9/15/2009 | Brandi Bell | $ | 80,000,00 | 80,000.00 | $ | 160,000.00 | 4.000000% | ||||||||||||||||||||||||
| 1/15/2010 | Ryder Erickson | $ | 5,000.00 | $ | 5,000.00 | 0.125000% | |||||||||||||||||||||||||
| 3/15/2010 | Doug Price | $ | 10,000,00 | $ | 1,000.00 | $ | 11,000.00 | 0.275000% | |||||||||||||||||||||||
| 4/15/2010 | Tim Buckley | $ | 20,000.00 | $ | 20,000.00 | 0.500000% | |||||||||||||||||||||||||
| 6/3/2010 | Ed McDonald - Crew | $ | 5,000.00 | $ | 5,000.00 | 0\125000% | |||||||||||||||||||||||||
| 4/11/2010 | Lawrence Wallace - Crew | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| Margaret Poehling | $ | 5,000.00 | $ | 5,000.00 | 0.125000 | % | |||||||||||||||||||||||||||||||
| 6/1/2010 | Diane Sabat | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| 12/15/2010 | Nan Li | $ | 5,000.00 | $ | 5,000.00 | 0.125000 | % | ||||||||||||||||||||||||||||||
| Ryan | $ | 2,500.00 | $ | 2,500.00 | 0.062500 | % | |||||||||||||||||||||||||||||||
| Amiel | $ | 2,500.00 | $ | 2,500.00 | 0.062500 | % | |||||||||||||||||||||||||||||||
| 12/15/2010 | Bob Howard | $ | 5,000.00 | $ | 5,000.00 | 0.125000 | % | ||||||||||||||||||||||||||||||
| 12/15/2010 | Joefer Bautista | $ | 2,500.00 | $ | 2,500.00 | 0.062500 | % | ||||||||||||||||||||||||||||||
| missing (1099) | Ivan Jasonovic | $ | 5,000.00 | $ | 5,000.00 | 0.125000 | % | ||||||||||||||||||||||||||||||
| Tom Bell (THB) | $ | 10,000.00 | $ | 140,800.00 | $ | 150,000.00 | 3.750000 | % | |||||||||||||||||||||||||||||
| Don & Debbie Blake | $ | 20,000.00 | $ | 20,000.00 | 0.500000 | % | |||||||||||||||||||||||||||||||
| 2/1/2011 | Don & Debbie Blake | $ | 10,000.00 | $ | 500.00 | $ | 10,500.00 | 0.262500 | % | ||||||||||||||||||||||||||||
| 2/15/2011 | Marc & Debra Angelillo | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| 2/10/2012 | AKA Enterprises / Barry Barker | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| CORY MARTIN | $ | 422,500.00 | |||||||||||||||||||||||||||||||||||
| 10/24/2007 | Kim Symons | $ | 20,000.00 | $ | 20,000.00 | $ | 5,000.00 | $ | 5,000.00 | $ | (25,000.00 | ) | $ | 25,000.00 | 0.625000 | % | |||||||||||||||||||||
| Peggy Kay Symons | $ | 25,000.00 | $ | 25,000.00 | 0.625000 | % | |||||||||||||||||||||||||||||||
| 10/24/2007 | Cory Martin | $ | 20,000.00 | $ | 20,000.00 | $ | 10,000.00 | $ | 50,000.00 | 1.250000 | % | ||||||||||||||||||||||||||
| 10/19/2007 | Michael Baker | $ | 20,000.00 | $ | 20,000.00 | 0.500000 | % | ||||||||||||||||||||||||||||||
| 10/20/2007 | Scott Baker | $ | 20,000.00 | $ | 5,000.00 | $ | 15,000.00 | $ | 40,000.00 | 1.000000 | % | ||||||||||||||||||||||||||
| 12/14/2007 | Marter Holdings | $ | 20,000.00 | $ | 20,000.00 | 0.500000 | % | ||||||||||||||||||||||||||||||
| 7/28/2008 | Phillip Ricardo | $ | 2,500.00 | $ | 2,500.00 | 0.062500 | % | ||||||||||||||||||||||||||||||
| 9/18/2008 | Paul DeMattia | $ | 20,000.00 | $ | 15,000.00 | $ | 35,000.00 | 0.875000 | % | ||||||||||||||||||||||||||||
| 1/20/2009 | Steven Sertich (NSA) | $ | 30,000.00 | $ | 30,000.00 | 0.750000 | % | ||||||||||||||||||||||||||||||
| 7/1/2009 | Don Vaca | $ | 30,000.00 | $ | 30,000.00 | 0.750000 | % | ||||||||||||||||||||||||||||||
| 8/28/2009 | Dr Davidson | $ | 50,000.00 | $ | 20,000.00 | $ | 70,000.00 | 1.750000 | % | 70K paid | |||||||||||||||||||||||||||
| 10/15/2009 | Rebecca White | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| 3/10/2009 | Mauka Breeze | $ | 20,000.00 | $ | 20,000.00 | 0.500000 | % | ||||||||||||||||||||||||||||||
| 5/10/2010 | Lance Garreck | $ | 10,000.00 | $ | 5,000.00 | $ | 15,000.00 | 0.375000 | % | ||||||||||||||||||||||||||||
| 4/29/2010 | William Lusk | $ | 10,000.00 | $ | 10,000.00 | 0.250000 | % | ||||||||||||||||||||||||||||||
| need | NEED | Ellie Ahern | $ | — | 0.000000 | % | 2010 | ||||||||||||||||||||||||||||||
| Mark Kalbfleisch | $ | 20,000.00 | $ | 20,000.00 | 0.500000 | % | |||||||||||||||||||||||||||||||
| NEED | George Garrick | $ | — | 0.000000 | % | 2010 | |||||||||||||||||||||||||||||||
| Judith Quenzer | $ | 7,500.00 | $ | 7,500.00 | 0.187500 | % | |||||||||||||||||||||||||||||||
| d | $ | 4,000,000.00 | 100.000000 | % | |||||||||||||||||||||||||||||||||
| $ | 1,287,500.00 | $ | 942,500.00 | $ | 817,500.00 | $ | 825,000.00 | $ | 57,500.00 | $ | 70,000.00 | $ | (33,500.00 | ) | |||||||||||||||||||||||
| $ | 4,000,000.00 | ||||||||||||||||||||||||||||||||||||
| Units Awarded for services rendered - no cash deposits | |||||||||||||||||||||||||||||||||||||
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||||||||||||||||||
| Dulake | $ | 20,000.00 | $ | 10,000.00 | |||||||||||||||||||||||||||||||||
| Adam Boster | $ | 50,000.00 | $ | 100,000.00 | $ | 50,000.00 | $ | 145,000.00 | $ | 50,000.00 | $ | 5,000.00 | |||||||||||||||||||||||||
| Christopher R Tobin | $ | 2,500.00 | |||||||||||||||||||||||||||||||||||
| Eugene Gruender | $ | 2,500.00 | |||||||||||||||||||||||||||||||||||
| Robert W Evans | $ | 10,000.00 | |||||||||||||||||||||||||||||||||||
| Ed McDonald - Crew | $ | 5,000.00 | |||||||||||||||||||||||||||||||||||
| Lawrence Wallace - Crew | $ | 10,000.00 | |||||||||||||||||||||||||||||||||||
| Diane Sabat | $ | 10,000.00 | |||||||||||||||||||||||||||||||||||
| Nan Li | $ | 5,000.00 | |||||||||||||||||||||||||||||||||||
| Ryan | $ | 2,500.00 | |||||||||||||||||||||||||||||||||||
| Amiel | $ | 2,500.00 | |||||||||||||||||||||||||||||||||||
| Bob Howard | $ | 5,000.00 | |||||||||||||||||||||||||||||||||||
| Joefer Bautista | $ | 2,500.00 | |||||||||||||||||||||||||||||||||||
| Ivan jasonovic | $ | 5,.000.00 | |||||||||||||||||||||||||||||||||||
| Loans | principle | Year Made | APR Interest | Payments Made | |||||||||||||||||||||||||||||||||
| Len Connard | 30000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Carol Marie Fredrickson | 60000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Ray Bouchereaux | 5000 | 2012 | 20.00 | % | 2000 | ||||||||||||||||||||||||||||||||
| Rick Dulake | 100000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Rick Dulake(2) | 20000 | 2012 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Joe Ciaglia | 50000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| John Connard | 20000 | 2012 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Adam Boster | 100000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Adam Boster | 135000 | 2010 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Theresa Potts | 500 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Jay Flottman | 20000 | 2012 | 20.00 | % | 3000 | ||||||||||||||||||||||||||||||||
| Jade Hockman | 25000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Ken Chamitoff | 120000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Shari Chamitoff | 100000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Shari Chamitoff (2) | 50000 | 2010 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Shari Chamitoff | 50000 | 2012 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Kim Symons | 5000 | 2009 | 20.00 | % | |||||||||||||||||||||||||||||||||
| Paul DeMatia | 20000 | 2009 | 20.00 | % | 17500 | ||||||||||||||||||||||||||||||||
| Dr Jeff Davidson | 100000 | 2009 | 20.00 | % | 100000 | legal | -70000 | ||||||||||||||||||||||||||||||
| Total Loans | 1010500 | 122500 | |||||||||||||||||||||||||||||||||||
| Dr Jeff Davidson | 330000 | 2013 | Legal | ||||||||||||||||||||||||||||||||||
| ADD Lawsuit - Balance is now $330,000. We probably can settle for about $50,000 | |||||||||||||||||||||||||||||||||||||
| Loans | principle | Year Made | APR Interest | Paid Off | ||||||||||||
| Les Connard | 30000 | 2009 | 20.00 | % | ||||||||||||
| Carol Marie Fredrickson | 60000 | 2009 | 20.00 | % | ||||||||||||
| Ray Bouchereaux | 5000 | 2012 | 20.00 | % | 2500 | |||||||||||
| Rick Dulake | 100000 | 2009 | 20.00 | % | ||||||||||||
| Rick Dulake (2) | 20000 | 2012 | 20.00 | % | ||||||||||||
| Joe Ciaglia | 10000 | 2009 | 20.00 | % | ||||||||||||
| John Connard | 20000 | 2012 | 20.00 | % | ||||||||||||
| Adam Boster | 100000 | 2009 | 20.00 | % | ||||||||||||
| Adam Boster | 135000 | 2010 | 20.00 | % | ||||||||||||
| Jay Flottman | 20000 | 2012 | 20.00 | % | ||||||||||||
| Jade Hockman | 25000 | 2009 | 20.00 | % | ||||||||||||
| Ken Chamitoff | 120000 | 2009 | 20.00 | % | ||||||||||||
| Ken Chamitoff | 100000 | 2012 | 20.00 | % | ||||||||||||
| Shari Chamitoff | 100000 | 2009 | 20.00 | % | ||||||||||||
| Shari Chamitoff (2) | 50000 | 2010 | 20.00 | % | ||||||||||||
| Shari Chamitof | 75000 | 2011 | 20.00 | % | ||||||||||||
| Shari Chamitoff | 50000 | 2012 | 20.00 | % | ||||||||||||
| Kim Symons | 5000 | 2009 | 20.00 | % | ||||||||||||
| Paul DeMatia | 20000 | 2009 | 20.00 | % | 17500 | |||||||||||
| Dr Jeff Davidson | 100000 | 2009 | 20.00 | % | 70000 | |||||||||||
| Dr Jeff Davidson - LAWSUIT | 330000 | 2011 LAWSUIT | ||||||||||||||
| ***ADD Lawsuit - Balance is now $330,000. We probably can settle for about $50,000 | ||||||||||||||||
| Total Loans | 1475000 | with interest??? | ||||||||||||||
SNM GLOBAL HOLDINGS, INC.
TERM SHEET
Dog on Deck Productions
The following is a non-binding term sheet for structuring a joint venture project between Divided Sky Productions, a division of SNM Global Holdings, Inc. (“DSP”) and Dog On Deck Productions (DOD).
The following terms are intended for building a frame work for the joint venture and establish an understanding between the Parties.
| Purpose | The purpose of the joint venture is to combine the efforts of funding raising, marketing and brand building capacities of DSP with DOD. The Parties further intend to finance and distribute feature films, and future associated projects. The Parties intend to memorialize the terms of this joint venture, as amended, in a formal definitive agreement. |
| Consideration | In exchange for 50% of movie project owned by Dog on Deck Productions, SNM will pay an aggregate of $1,250,000.00 in cash to DOD, and hold $250,000 in reserve for promotion and distribution consideration. |
| Use of Proceeds | Funds will be used to produce, direct, market, and distribute a feature-length film. |
| Responsibilities | DOD. shall be responsible for all creative decision regarding the film. |
| DSP will be responsible for all accounting and fiduciary responsibilities. |
SNM GLOBAL HOLDINGS, INC.
| Profit Share | Any and all of the net profits, from the sales or distribrution shall be shared 50/50 between Divided Sky Productions and Dog on Deck Productions. | ||
| Risks | All Parties understand and agree that this joint venture carries certain risks. Neither party makes any guarantee or warranty otherwise in regards to the success of the joint venture, except those representations and warranties stated in a final definitive agreement. | ||
| Representations and Warranties | In addition to standard representations and warranties, the Parties do hereby represent and warrant the following: | ||
| ☐ | DSP hereby represents and warrants that it has the capacity, as a publicly traded company, to raise sufficient funds for the purpose of the joint venture; | ||
| ☐ | DOD represents and warrants that the all products are free and clear of all liens and encumbrances and DOD is the sole owner of the movie project, all derivative rights, including, but not limited to, licensing, distribution, trademarks, and content. | ||
SNM GLOBAL HOLDINGS, INC.
The undersigned does hereby agree to the intent and purpose of this Term Sheet as it relates to a joint venture between SNM Global Holdings, Inc. and Dog On Deck Productions, LLC. The Parties understand and agree that this terms set forth may be amended prior to entering into a definitive agreement after the parties have completed their respective due diligence.
| SNM Global Holdings, Inc. | |||
 | 4/1/17 | ||
| Troy Lowman, President | |||
| AGREED AND ACCEPTED by: | |||
| Jason Slawson | |||
| Dog on Deck Productions, LLC | |||
 | 27 MAR 17 | ||
| By: | Jason Slawson | Date | |
| Title: | Owner | ||
State of Maryland Department of Assessments and Taxation
Charter Division
|  | Larry Hogan Governor
Michael L. Higgs Acting Director |
| Date: 04/06/2017 |
LEGALZOOM
101 N. BRAND BLVD.
11TH FLOOR
GLENDALE CA 91203
| THIS LETTER IS TOCONFIRM ACCEPTANCE OF THE FOLLOWING FILING: | |
| ENTITY NAME | : DOG ON DECK PRODUCTIONS, LLC |
| DEPARTMENT ID | : W17918244 |
| TYPE OF REQUEST | : ARTICLES OF ORGANIZATION |
| DATE FILED | : 04-03-2017 |
| TIME FILED | : 04:32 PM |
| RECORDING FEE | : $100.00 |
| EXPEDITED FEE | : $50.00 |
| POSTAGE FEE | : $5.00 |
| FILING NUMBER | : 1000362010238295 |
| CUSTOMER ID | : 0003538337 |
| WORK ORDER NUMBER | : 0004754914 |
PLEASE VERIFY THE INFORMATION CONTAINED IN THIS LETTER. NOTIFY THIS DEPARTMENT IN WRITING IF ANY INFORMATION IS INCORRECT. INCLUDE THE CUSTOMER ID AND THE WORK ORDER NUMBER ON ANY INQUIRIES. EVERY YEAR THIS ENTITY MUST FILE A PERSONAL PROPERTY RETURN IN ORDER TO MAINTAIN ITS EXISTENCE EVEN IF IT DOES NOT OWN PERSONAL PROPERTY. THE RETURN IS FOUND ON THE SDAT WEBSITE.
Charter Division
Baltimore Metro Area (410) 767-1350
Outside Metro Area (888) 246-5941
| 0010544146 | ||
| 301 West Preston Street-Room 801-Baltimore, Maryland 21201-2395 Telephone (410)767-4950/Toll free in Maryland (888)246-5941 MRS (Maryland Relay Service) (800)735-2258 TT/Voice Website: www.dat.maryland.gov |
CACCPT |
| ENTITY TYPE: | ENTITIES OTHER THAN CORPORATIONS |
| EFFECTIVE DATE: | 04-03-2017 |
| PRINCIPAL OFFICE: | 9503 TIPPETT LANE |
| MONTGOMERY VILLAGE MD 20886 | |
| RESIDENT AGENT: | JASON SLAWSON |
| 9503 TIPPETT LANE | |
| MONTGOMERY VILLAGE MD 20886 |
| Bid Date: | ||||||||
| Production Co.: | Dog On Deck Productions, LLC | Agency: | ||||||
| Address: | Maryland | Address: | ||||||
| Telephone: | Telephone: | |||||||
| Fax: | Fax: | |||||||
| Job #: | Agency Prod: | |||||||
| Contact: | Creative Director: | |||||||
| Director: | Jason Slawson | Copywriter: | ||||||
| Line Producer: | Grant Slawson | Art Director: | ||||||
| DP: | Dean Cundey | Client: | ||||||
| EP | Tracie Hovey | Product: | ||||||
| Editor: | Grant/Jason Slawson | Bid Name: | ||||||
| Pre-Production Days: | 60 | Commercial Title | Code | Length | ||||
| Build & Strike Days: | 24 | Hours: | 1. | POTENTIAL | 90 | |||
| Pre-light Days: | 5 | Hours: | 2. | |||||
| Studio Shoot Days: | 0 | Hours: | 3. | |||||
| Location Days: | 30 | Hours: | 4. | |||||
| Location(s): | Hagerstown, MD | 5. | ||||||
| Payroll Taxes PT/P&W: | 18.00% | 6. | ||||||
| SUMMARY OF ESTIMATED PRODUCTION COSTS | ESTIMATED | ACTUAL | VARIANCE | ||||||||
| 1 | Pre-production & Wrap Costs | Totals A & C | $ | 70,992 | $ | — | $ | 70,992 | |||
| 2 | Shooting Labor | Total B | $ | 393,011 | $ | — | $ | 393,011 | |||
| 3 | Location & Travel Expenses | Total D | $ | 92,600 | $ | — | $ | 92,600 | |||
| 4 | Props, Wardrobe, and Animals | Total E | $ | 19,000 | $ | — | $ | 19,000 | |||
| 5 | Studio & Set Construction Costs | Totals F, G, & H | $ | 82,712 | $ | — | $ | 82,712 | |||
| 6 | Equipment Costs | Total I | $ | 98,070 | $ | — | $ | 98,070 | |||
| 7 | Filmstock, Develop and Print | Total J | $ | — | $ | — | $ | — | |||
| 8 | Miscellaneous | Total K | $ | 3,300 | $ | — | $ | 3,300 | |||
| 9 | Sub-total | A to K | $ | 759,685 | $ | — | $ | 759,685 | |||
| 10 | Director / Creative Fees | Total L | $ | 96,000 | $ | — | $ | 96,000 | |||
| 11 | Production Insurance | $ | 22,791 | $ | — | $ | 22,791 | ||||
| 12 | Sub-total | Direct Costs | $ | 878,475 | $ | — | $ | 878,475 | |||
| 13 | Talent Costs & Expenses | Totals M&N | $ | 149,551 | $ | — | $ | 149,551 | |||
| 14 | Editorial and Finishing | Totals O & P | $ | 94,350 | $ | — | $ | 94,350 | |||
| 15 | Sub-total | Project | $ | 1,122,376 | $ | — | $ | 1,122,376 | |||
| 16 | Executive Producer | 5.0% | $ | 56,119 | $ | — | $ | 56,119 | |||
| 17 | Other | $ | — | $ | — | $ | — | ||||
| 18 | Sub-total | Production | $ | 1,178,495 | $ | — | $ | 1,178,495 | |||
| 19 | Contingency | 6.0% | $ | 70,710 | $ | — | $ | 70,710 | |||
| 20 | Contracted Total | GRAND TOTAL | $ | 1,249,204 | $ | — | $ | 1,249,204 | |||
| COMMENTS | |
Bid Includes:
|
Bid does not include: Script Writer’s Fees, deferred until sale $47,862 for screenplay Original Music Score deferred until sale $1000/Finished minute
|
| Dog On Deck Productions, LLC | Page 1A |
| PRE-PRO & WRAP | OT | OT Hours | |||||||||||||||||||||||||
| A | CREW | Days | Rate | based | 1.5 | 2.0 | ESTIMATED | ACTUAL | |||||||||||||||||||
| PRODUCTION DEPARTMENT/TALENT | |||||||||||||||||||||||||||
| 1 | Producer | 60 | 500 | $ | 30,000 | $ | — | ||||||||||||||||||||
| 2 | Managing Producer | $ | — | $ | — | ||||||||||||||||||||||
| 3 | Production Coordinator | $ | — | $ | — | ||||||||||||||||||||||
| 4 | Location Manager | $ | — | $ | — | ||||||||||||||||||||||
| 5 | Location Scout | $ | — | $ | — | ||||||||||||||||||||||
| 6 | Screenwriter | 20 | 500 | $ | 10,000 | $ | — | ||||||||||||||||||||
| 7 | 1st AD | $ | — | $ | — | ||||||||||||||||||||||
| 8 | Actor Jason Rehearsal | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||
| 9 | Actor Mike Rehearsal | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||
| 10 | Actor Marc Rehearsal | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||
| 11 | Actor Jack Rehearsal | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||
| 12 | PA | $ | — | $ | — | ||||||||||||||||||||||
| 13 | PA | $ | — | $ | — | ||||||||||||||||||||||
| 14 | PA | $ | — | $ | — | ||||||||||||||||||||||
| 15 | REHEARSAL CRAFTY | 4 | 400 | $ | 1,600 | $ | — | ||||||||||||||||||||
| 16 | REHEARSAL SPACE | 4 | 600 | $ | 2,400 | $ | — | ||||||||||||||||||||
| CAMERA DEPARTMENT | |||||||||||||||||||||||||||
| 17 | Director of Photography | 2 | 1500 | $ | 3,000 | $ | — | ||||||||||||||||||||
| 18 | Camera Operator | $ | — | $ | — | ||||||||||||||||||||||
| 19 | 1st AC | 3 | 300 | $ | 900 | $ | — | ||||||||||||||||||||
| 20 | 2nd AC | $ | — | $ | — | ||||||||||||||||||||||
| 21 | DIT | 3 | 175 | $ | 525 | $ | — | ||||||||||||||||||||
| 22 | Digital Transfer/Loader | $ | — | $ | — | ||||||||||||||||||||||
| 23 | Still Photographer | $ | — | $ | — | ||||||||||||||||||||||
| 24 | Videographer | $ | — | $ | — | ||||||||||||||||||||||
| 25 | Camera Intern | $ | — | $ | — | ||||||||||||||||||||||
| GRIP DEPARTMENT | |||||||||||||||||||||||||||
| 26 | Key Grip | $ | — | $ | — | ||||||||||||||||||||||
| 27 | Best Boy Grip | $ | — | $ | — | ||||||||||||||||||||||
| 28 | Dolly Grip | $ | — | $ | — | ||||||||||||||||||||||
| 29 | Grip | $ | — | $ | — | ||||||||||||||||||||||
| 30 | Grip | $ | — | $ | — | ||||||||||||||||||||||
| 31 | Grip | $ | — | $ | — | ||||||||||||||||||||||
| 32 | Grip | $ | — | $ | — | ||||||||||||||||||||||
| ELECTRIC DEPARTMENT | |||||||||||||||||||||||||||
| 33 | Gaffer | $ | — | $ | — | ||||||||||||||||||||||
| 34 | Best Boy Electric | $ | — | $ | — | ||||||||||||||||||||||
| 35 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 36 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 37 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 38 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 39 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| ART DEPARTMENT | |||||||||||||||||||||||||||
| 40 | Production Designer | 5 | 250 | $ | 1,250 | $ | — | ||||||||||||||||||||
| 41 | Art Director | $ | — | $ | — | ||||||||||||||||||||||
| 42 | Set Decorator | $ | — | $ | — | ||||||||||||||||||||||
| 43 | Set Dresser | $ | — | $ | — | ||||||||||||||||||||||
| 44 | Buyer | $ | — | $ | — | ||||||||||||||||||||||
| 45 | Art Swing | $ | — | $ | — | ||||||||||||||||||||||
| 46 | Builder | $ | — | $ | — | ||||||||||||||||||||||
| 47 | Art PA | $ | — | $ | — | ||||||||||||||||||||||
| 48 | Art PA | $ | — | $ | — | ||||||||||||||||||||||
| MAKE UP AND HAIR DEPARTMENT | |||||||||||||||||||||||||||
| 49 | Key Make Up Artist | 1 | 250 | $ | 250 | $ | — | ||||||||||||||||||||
| 50 | Key Hair Stylist | $ | — | $ | — | ||||||||||||||||||||||
| 51 | Make up Artist | $ | — | $ | — | ||||||||||||||||||||||
| 52 | Hair Stylist | $ | — | $ | — | ||||||||||||||||||||||
| 53 | Special Effects Make Up | $ | — | $ | — | ||||||||||||||||||||||
| 54 | Make up assistant | $ | — | $ | — | ||||||||||||||||||||||
| COSTUME DEPARTMENT | |||||||||||||||||||||||||||
| 55 | Costume Designer | 2 | 250 | $ | 500 | $ | — | ||||||||||||||||||||
| 56 | Wardrobe Supervisor | $ | — | $ | — | ||||||||||||||||||||||
| 57 | Costume Maker | $ | — | $ | — | ||||||||||||||||||||||
| 58 | On set Costumer | $ | — | $ | — | ||||||||||||||||||||||
| 59 | Costume Assistant | $ | — | $ | — | ||||||||||||||||||||||
| STUNTS AND SPECIAL EFFECTS | |||||||||||||||||||||||||||
| 60 | Stunt Coordinator | 2 | 500 | $ | 1,000 | $ | — | ||||||||||||||||||||
| 61 | Stunt Rigger | $ | — | $ | — | ||||||||||||||||||||||
| 62 | Special Effects Supervisor | 2 | 375 | $ | 750 | $ | — | ||||||||||||||||||||
| 63 | Special Effects assistant | $ | — | $ | — | ||||||||||||||||||||||
| SOUND DEPARTMENT | |||||||||||||||||||||||||||
| 64 | Mixer | $ | — | $ | — | ||||||||||||||||||||||
| 65 | Boom Operator | $ | — | $ | — | ||||||||||||||||||||||
| TRANSPORTATION DEPARTMENT | |||||||||||||||||||||||||||
| 66 | Transpo Captain | 1 | 250 | $ | 250 | $ | — | ||||||||||||||||||||
| 67 | Driver | $ | — | $ | — | ||||||||||||||||||||||
| 68 | Driver | $ | — | $ | — | ||||||||||||||||||||||
| 69 | Driver | $ | — | $ | — | ||||||||||||||||||||||
| 70 | Driver | $ | — | $ | — | ||||||||||||||||||||||
| Sub-total A | $ | 61,185 | $ | — | |||||||||||||||||||||||
| PT/P&W | $ | 5,507 | $ | — | |||||||||||||||||||||||
| TOTAL A | $ | 66,692 | $ | — | |||||||||||||||||||||||
| Dog On Deck Productions, LLC | Page 1B |
| SHOOTING | OT | OT Hours | |||||||||||||||||||||||||
| B | CREW | Days | Rate | based | 1.5 | 2.0 | ESTIMATED | ACTUAL | |||||||||||||||||||
| PRODUCTION DEPARTMENT | |||||||||||||||||||||||||||
| 71 | Producer | 30 | 1000 | $ | 30,000 | $ | — | ||||||||||||||||||||
| 72 | Managing Producer | $ | — | $ | — | ||||||||||||||||||||||
| 73 | $ | — | $ | — | |||||||||||||||||||||||
| 74 | $ | — | $ | — | |||||||||||||||||||||||
| 75 | Location Scout | $ | — | $ | — | ||||||||||||||||||||||
| 76 | Script Supervisor | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 77 | 1st AD | 30 | 500 | $ | 15,000 | $ | — | ||||||||||||||||||||
| 78 | Screenwriter | 30 | 400 | $ | 12,000 | $ | — | ||||||||||||||||||||
| 79 | 2nd AD | 30 | 200 | $ | 6,000 | $ | — | ||||||||||||||||||||
| 80 | Key PA | 30 | 200 | $ | 6,000 | $ | — | ||||||||||||||||||||
| 81 | Set PA | $ | — | $ | — | ||||||||||||||||||||||
| 82 | PA | 30 | 120 | $ | 3,600 | $ | — | ||||||||||||||||||||
| 83 | PA | 30 | 120 | $ | 3,600 | $ | — | ||||||||||||||||||||
| 84 | PA | 30 | 120 | $ | 3,600 | $ | — | ||||||||||||||||||||
| 85 | PA | $ | — | $ | — | ||||||||||||||||||||||
| 86 | Production Intern | $ | — | $ | — | ||||||||||||||||||||||
| CAMERA DEPARTMENT | |||||||||||||||||||||||||||
| 87 | Director of Photography Dean Cundey | 30 | 3000 | $ | 90,000 | $ | — | ||||||||||||||||||||
| 88 | Camera Operator | $ | — | $ | — | ||||||||||||||||||||||
| 89 | 1st AC | 30 | 500 | $ | 15,000 | $ | — | ||||||||||||||||||||
| 90 | 2nd AC | 30 | 600 | $ | 18,000 | $ | — | ||||||||||||||||||||
| 91 | DIT | 30 | 350 | $ | 10,500 | $ | — | ||||||||||||||||||||
| 92 | Digital Transfer/Loader | $ | — | $ | — | ||||||||||||||||||||||
| 93 | Still Photographer EVERYONE | $ | — | $ | — | ||||||||||||||||||||||
| 94 | Videographer | $ | — | $ | — | ||||||||||||||||||||||
| 95 | Camera Intern | $ | — | $ | — | ||||||||||||||||||||||
| GRIP DEPARTMENT | |||||||||||||||||||||||||||
| 96 | Key Grip | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 97 | Best Boy Grip | $ | — | $ | — | ||||||||||||||||||||||
| 98 | Dolly Grip | $ | — | $ | — | ||||||||||||||||||||||
| 99 | Grip | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| 100 | Grip | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| 101 | Grip | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| 102 | Grip | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| ELECTRIC DEPARTMENT | |||||||||||||||||||||||||||
| 103 | Gaffer | 30 | 500 | $ | 15,000 | $ | — | ||||||||||||||||||||
| 104 | Best Boy Electric | $ | — | $ | — | ||||||||||||||||||||||
| 105 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 106 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 107 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 108 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| 109 | Electric | $ | — | $ | — | ||||||||||||||||||||||
| ART DEPARTMENT | |||||||||||||||||||||||||||
| 110 | Production Designer | 30 | 500 | $ | 15,000 | $ | — | ||||||||||||||||||||
| 111 | Art Director | $ | — | $ | — | ||||||||||||||||||||||
| 112 | Set Decorator | $ | — | $ | — | ||||||||||||||||||||||
| 113 | Set Dresser | 30 | 200 | $ | 6,000 | $ | — | ||||||||||||||||||||
| 114 | Buyer | $ | — | $ | — | ||||||||||||||||||||||
| 115 | Art Swing | $ | — | $ | — | ||||||||||||||||||||||
| 116 | Builder | $ | — | $ | — | ||||||||||||||||||||||
| 117 | Art PA | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| 118 | Art PA | 30 | 150 | $ | 4,500 | $ | — | ||||||||||||||||||||
| MAKE UP AND HAIR DEPARTMENT | |||||||||||||||||||||||||||
| 119 | Key Make Up Artist | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 120 | Key Hair Stylist | $ | — | $ | — | ||||||||||||||||||||||
| 121 | Make up Artist | $ | — | $ | — | ||||||||||||||||||||||
| 122 | Hair Stylist | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 123 | Special Effects Make Up | $ | — | $ | — | ||||||||||||||||||||||
| 124 | Make up assistant | $ | — | $ | — | ||||||||||||||||||||||
| COSTUME DEPARTMENT | |||||||||||||||||||||||||||
| 125 | Costume Designer | $ | — | $ | — | ||||||||||||||||||||||
| 126 | Wardrobe Supervisor | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 127 | Costume Maker | $ | — | $ | — | ||||||||||||||||||||||
| 128 | On set Costumer | $ | — | $ | — | ||||||||||||||||||||||
| 129 | Costume Assistant | $ | — | $ | — | ||||||||||||||||||||||
| STUNTS AND SPECIAL EFFECTS | |||||||||||||||||||||||||||
| 130 | Stunt Coordinator | 2 | 1000 | $ | 2,000 | $ | — | ||||||||||||||||||||
| 131 | Stunt Rigger | $ | — | $ | — | ||||||||||||||||||||||
| 132 | Special Effects Supervisor | 4 | 750 | $ | 3,000 | $ | — | ||||||||||||||||||||
| 133 | Special Effects assistant | $ | — | $ | — | ||||||||||||||||||||||
| SOUND DEPARTMENT | |||||||||||||||||||||||||||
| 134 | Recordist/Mixer | 30 | 300 | $ | 9,000 | $ | — | ||||||||||||||||||||
| 135 | Boom Operator | 30 | 450 | $ | 13,500 | $ | — | ||||||||||||||||||||
| TRANSPORTATION DEPARTMENT | |||||||||||||||||||||||||||
| 136 | Transpo Captain | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 137 | On Set Nurse | 30 | 250 | $ | 7,500 | $ | — | ||||||||||||||||||||
| 138 | Bookeeper | 20 | 250 | $ | 5,000 | $ | — | ||||||||||||||||||||
| 139 | Security | 20 | 250 | $ | 6,000 | $ | — | ||||||||||||||||||||
| 140 | Driver | $ | — | $ | — | ||||||||||||||||||||||
| Sub-total A | $ | 367,300 | $ | — | |||||||||||||||||||||||
| PT/P&W | $ | 25,711 | $ | — | |||||||||||||||||||||||
| TOTAL B | $ | 393,011 | $ | — | |||||||||||||||||||||||
| Dog On Deck Productions, LLC | Page 2 |
| C | PRE-PRODUCTION & WRAP EXPENSES | Amount | Rate | x | ESTIMATED | ACTUAL | |||||||||||||||
| 141 | Auto Rentals | 10 | 40 | 2 | $ | 800.00 | $ | — | |||||||||||||
| 142 | Air Fares | 2 | 700 | $ | 1,400.00 | $ | — | ||||||||||||||
| 143 | Per Diems | $ | — | $ | — | ||||||||||||||||
| 144 | Still Camera & Film | $ | — | $ | — | ||||||||||||||||
| 145 | Messengers | $ | — | $ | — | ||||||||||||||||
| 146 | Trucking | $ | — | $ | — | ||||||||||||||||
| 147 | Deliveries & Taxis | 2 | 100 | $ | 200.00 | $ | — | ||||||||||||||
| 148 | Home Ec Supplies | $ | — | $ | — | ||||||||||||||||
| 149 | Telephone & Cable | 1 | 100 | $ | 100.00 | $ | — | ||||||||||||||
| 150 | Casting Director | $ | — | $ | — | ||||||||||||||||
| 151 | Casting Facilities | $ | — | $ | — | ||||||||||||||||
| 152 | Working Meals | 10 | 60 | 3 | $ | 1,800.00 | $ | — | |||||||||||||
| 153 | Casting Web Posting | $ | — | $ | — | ||||||||||||||||
| Total C | $ | 4,300.00 | $ | — | |||||||||||||||||
| D | LOCATION EXPENSES | Amount | Rate | x | ESTIMATED | ACTUAL | |||||||||||||||
| 154 | Location Fees | 10 | 500 | $ | 5, 000.00 | $ | — | ||||||||||||||
| 155 | Permits | 5 | 100 | $ | 500.00 | $ | — | ||||||||||||||
| 156 | Breakfast | $ | — | $ | — | ||||||||||||||||
| 157 | Lunch | $ | — | $ | — | ||||||||||||||||
| 158 | Dinner | $ | — | $ | — | ||||||||||||||||
| 159 | Catered Meals | 30 | 1100 | $ | 33,000.00 | $ | — | ||||||||||||||
| 160 | Crafts Services | 30 | 350 | $ | 10,500.00 | $ | — | ||||||||||||||
| 161 | Parking, Tolls, and Gas | $ | — | $ | — | ||||||||||||||||
| 162 | Air Fares | 5 | 700 | $ | 3,500.00 | $ | — | ||||||||||||||
| 163 | Per Diems | $ | — | $ | — | ||||||||||||||||
| 164 | Production Office | $ | — | $ | — | ||||||||||||||||
| 165 | Hotel (Directors, Producers, Camera) | 42 | 85 | $ | 35,700.00 | $ | — | ||||||||||||||
| 166 | Gratuities | $ | — | $ | — | ||||||||||||||||
| 167 | Cabs and Other Transportation | 5 | 80 | $ | 2,400.00 | $ | — | ||||||||||||||
| 168 | Site Cleanup | 20 | 100 | $ | 2,000.00 | $ | — | ||||||||||||||
| 169 | Garbage | $ | — | $ | — | ||||||||||||||||
| 170 | $ | — | $ | — | |||||||||||||||||
| 171 | $ | — | $ | — | |||||||||||||||||
| 172 | $ | — | $ | — | |||||||||||||||||
| 173 | $ | — | $ | — | |||||||||||||||||
| 174 | $ | — | $ | — | |||||||||||||||||
| 175 | $ | — | $ | — | |||||||||||||||||
| 176 | $ | — | $ | — | |||||||||||||||||
| 177 | $ | — | $ | — | |||||||||||||||||
| 178 | $ | — | $ | — | |||||||||||||||||
| 179 | $ | — | $ | — | |||||||||||||||||
| Total D | $ | 92,600.00 | $ | — | |||||||||||||||||
| E | PROPS, WARDROBE& ANIMALS | Amount | Rate | x | ESTIMATED | ACTUAL | |||||||||||||||
| 180 | Prop Rentals | 30 | 50 | $ | 1,500.00 | $ | — | ||||||||||||||
| 181 | Prop Purchases | 30 | 50 | $ | 1,500.00 | $ | — | ||||||||||||||
| 182 | Wardrobe Rentals | $ | — | $ | — | ||||||||||||||||
| 183 | Wardrobe Purchases | 100 | 50 | $ | 5,000.00 | $ | — | ||||||||||||||
| 184 | Rain Machine/Fans | $ | — | $ | — | ||||||||||||||||
| 185 | Animals & Handlers | $ | — | $ | — | ||||||||||||||||
| 186 | Wigs & Mustaches | 250 | $ | — | $ | — | |||||||||||||||
| 187 | Water Truck | $ | — | $ | — | ||||||||||||||||
| 188 | THE CAR | 1 | 5000 | $ | 5,000.00 | $ | — | ||||||||||||||
| 189 | THE CAR Maintenance/Looks | 1 | 3000 | $ | 3,000.00 | $ | — | ||||||||||||||
| 190 | Tow truck | 1 | 3000 | $ | 3,000.00 | $ | — | ||||||||||||||
| Total E | $ | 19,000.00 | $ | — | |||||||||||||||||
| Dog On Deck Productions, LLC | Page 3 |
| F | STUDIO RENTAL & EXPENSES | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 191 | �� | Rental For Build Days | 21 | 500 | $ | 10,500 | $ | — | |||||||||||||
| 192 | Build OT Hours | $ | — | $ | — | ||||||||||||||||
| 193 | Rental for Pre-Lite Days | 2 | 500 | $ | 1,000 | $ | — | ||||||||||||||
| 194 | Pre-Lite OT Hours | $ | — | $ | — | ||||||||||||||||
| 195 | Rental for Shoot Days | 45 | 500 | $ | 22,500 | $ | — | ||||||||||||||
| 196 | Shoot OT Hours | $ | — | $ | — | ||||||||||||||||
| 197 | Rental for Strike Days | 3 | 500 | $ | 1,500 | $ | — | ||||||||||||||
| 198 | Strike OT Hours | $ | — | $ | — | ||||||||||||||||
| 199 | $ | — | $ | — | |||||||||||||||||
| 200 | $ | — | $ | — | |||||||||||||||||
| 201 | $ | — | $ | — | |||||||||||||||||
| 202 | $ | — | $ | — | |||||||||||||||||
| 203 | Meals for Crew | 11 | 50 | 25 | $ | 13,750 | $ | — | |||||||||||||
| 204 | Studio Electrician | $ | — | $ | — | ||||||||||||||||
| 205 | Green Screen | $ | — | $ | — | ||||||||||||||||
| 206 | $ | — | $ | — | |||||||||||||||||
| 207 | $ | — | $ | — | |||||||||||||||||
| TOTAL F | $ | 49,250 | $ | — | |||||||||||||||||
| OT | OT Hours | |||||||||||||||||||||||||||
| G | SET CONSTRUCTION CREW | Days | Rate | Based | 1.5 | 2.0 | ESTIMATED | ACTUAL | ||||||||||||||||||||
| 208 | Set Designer | 16 | 300 | $ | 4,800 | $ | — | |||||||||||||||||||||
| 209 | Carpenters (3@ 150/day) | 21 | 450 | $ | 9,450 | $ | — | |||||||||||||||||||||
| 210 | Grips | 11 | 150 | $ | 1,650 | $ | — | |||||||||||||||||||||
| 211 | Outside Props | $ | — | $ | — | |||||||||||||||||||||||
| 212 | Inside Props | $ | — | $ | — | |||||||||||||||||||||||
| 213 | Scenics | $ | — | $ | — | |||||||||||||||||||||||
| 214 | Electricians (2@ 250/day) | 5 | 500 | $ | 2,500 | $ | — | |||||||||||||||||||||
| 215 | Teamsters | $ | — | $ | — | |||||||||||||||||||||||
| 216 | Strike Crew | $ | — | $ | — | |||||||||||||||||||||||
| 217 | Art PA’s | $ | — | $ | — | |||||||||||||||||||||||
| 218 | Effects Crew | $ | — | $ | — | |||||||||||||||||||||||
| 219 | Swing | $ | — | $ | — | |||||||||||||||||||||||
| 220 | Art Coordinator | $ | — | $ | — | |||||||||||||||||||||||
| Sub-total G | $ | 18,400 | $ | — | ||||||||||||||||||||||||
| PT/P&W | $ | 3,312 | $ | — | ||||||||||||||||||||||||
| TOTAL G | $ | 21,712 | $ | — | ||||||||||||||||||||||||
| H | SET CONSTRUCTION MATERIALS | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 221 | Set Dressing Purchases | 50 | 10 | $ | 500 | $ | — | ||||||||||||||
| 222 | Set Dressing Rentals | $ | — | $ | — | ||||||||||||||||
| 223 | Lumber | 600 | 15 | $ | 9,000 | $ | — | ||||||||||||||
| 224 | Paint | 50 | 25 | $ | 1,250 | $ | — | ||||||||||||||
| 225 | Hardware | 100 | 10 | $ | 1,000 | $ | — | ||||||||||||||
| 226 | Special Effects | $ | — | $ | — | ||||||||||||||||
| 227 | Outside Construction | $ | — | $ | — | ||||||||||||||||
| 228 | Art Trucking | $ | — | $ | — | ||||||||||||||||
| 229 | Messengers/Deliveries | $ | — | $ | — | ||||||||||||||||
| 230 | Kit Rental | $ | — | $ | — | ||||||||||||||||
| 231 | $ | — | $ | — | |||||||||||||||||
| 232 | $ | — | $ | — | |||||||||||||||||
| TOTAL H | $ | 11,750 | $ | — | |||||||||||||||||
| Dog On Deck Productions, LLC | Page 4 |
| I | EQUIPMENT RENTAL/PURCHASE | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 233 | Camera Rental Sony FS-700 | 1 | 4500 | $ | 4,500 | $ | — | ||||||||||||||
| 234 | Sound Rental (SD 664 weekly) | 1 | 450 | 6 | $ | 2,700 | $ | — | |||||||||||||
| 235 | Grip truck 5 ton (weekly) | 1 | 2200 | 6 | $ | 13,200 | $ | — | |||||||||||||
| 236 | Grip truck mileage (1.35) | 600 | 1.35 | $ | 810 | $ | — | ||||||||||||||
| 237 | Generator Rental | 1 | 200 | 10 | $ | 2,000 | $ | — | |||||||||||||
| 238 | Crane Rental | 1 | 500 | 10 | $ | 5,000 | $ | — | |||||||||||||
| 239 | Lems Kit for Ursa (Purchase) | 1 | 4500 | $ | 4,500 | $ | — | ||||||||||||||
| 240 | Walkie Talkie Rental | 15 | 20 | 6 | $ | 1,800 | $ | — | |||||||||||||
| 241 | Dolly Rental (Complete per week) | 1 | 2200 | 6 | $ | 13,200 | $ | — | |||||||||||||
| 242 | Matte Box Purchases | 2 | 2100 | $ | 4,200 | $ | — | ||||||||||||||
| 243 | Steadicam Scout Purchase | 1 | 4200 | $ | 4,200 | $ | — | ||||||||||||||
| 244 | Production Supplies | $ | — | $ | — | ||||||||||||||||
| 245 | Teleprompter | $ | — | $ | — | ||||||||||||||||
| 246 | Expendables (Gels. Etc.) | 50 | 10 | $ | 500 | $ | — | ||||||||||||||
| 247 | Mobile Phones Rental | $ | — | $ | — | ||||||||||||||||
| 248 | Arri Alexa Camera Rental (Kit with batteries, mounts, etc.) | 1 | 2200 | 6 | $ | 13,200 | $ | — | |||||||||||||
| 249 | Angenieux Lens Rentals | 3 | 1200 | 6 | $ | 21,600 | $ | — | |||||||||||||
| 250 | Tripods | 3 | 370 | 6 | $ | 6,660 | $ | — | |||||||||||||
| TOTAL I | $ | 98,070 | $ | — | |||||||||||||||||
| J | FILMSTOCK, DEVELOP & PRINT | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 251 | Film Stock | $ | — | $ | — | ||||||||||||||||
| 252 | Develop Filmstock | $ | — | $ | — | ||||||||||||||||
| 253 | $ | — | $ | — | |||||||||||||||||
| 254 | $ | — | $ | — | |||||||||||||||||
| 255 | Transfer dailies | $ | — | $ | — | ||||||||||||||||
| 256 | Purchase HD Tape Stock | $ | — | $ | — | ||||||||||||||||
| TOTAL J | $ | — | $ | — | |||||||||||||||||
| K | MISCELLANEOUS COSTS | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 257 | Petty Cash | 30 | 100 | $ | 3,000 | $ | — | ||||||||||||||
| 258 | Air Shipping and Carriers | 6 | 50 | $ | 300 | $ | — | ||||||||||||||
| 259 | Mobile Phones | $ | — | $ | — | ||||||||||||||||
| 260 | Cash Under $15 Each | $ | — | $ | — | ||||||||||||||||
| 261 | External Billing Costs | $ | — | $ | — | ||||||||||||||||
| 262 | Production Insurance | $ | — | $ | — | ||||||||||||||||
| 263 | Finishing Inurance | $ | — | $ | — | ||||||||||||||||
| 264 | $ | — | $ | — | |||||||||||||||||
| 265 | $ | — | $ | — | |||||||||||||||||
| 266 | $ | — | $ | — | |||||||||||||||||
| TOTAL K | $ | 3,300 | $ | — | |||||||||||||||||
| L | DIRECTOR/CREATIVE FEES | Amount | Rate | X | ESTIMATED | ACTUAL | |||||||||||||||
| 267 | Director Prep | 60 | 500 | $ | 30,000 | $ | — | ||||||||||||||
| 268 | Director Travel | $ | — | $ | — | ||||||||||||||||
| 269 | Director Shoot | 30 | 1,000 | $ | 30,000 | $ | — | ||||||||||||||
| 270 | Director Post | 60 | 600 | $ | 36,000 | $ | — | ||||||||||||||
| 271 | Fringes | $ | — | $ | — | ||||||||||||||||
| 272 | $ | — | $ | — | |||||||||||||||||
| 273 | $ | — | $ | — | |||||||||||||||||
| Sub-total L | $ | 96,000 | $ | — | |||||||||||||||||
| PT/P&W | $ | — | |||||||||||||||||||
| TOTAL L | $ | 96,000 | $ | — | |||||||||||||||||
| Dog On Deck Productions, LLC | Page 5 |
| TALENT | Travel | Shoot | OT | OT Hours | ||||||||||||||||||||||||||
| M | No. | Days | Days | Rate | Base | 1.5 | 2.0 | ESTIMATED | ACTUAL | |||||||||||||||||||||
| 267 | Principal: Jason | 1 | 30 | 438 | $ | 13,140 | $ | — | ||||||||||||||||||||||
| 268 | Principal: Mike | 2 | 30 | 438 | $ | 13,140 | $ | — | ||||||||||||||||||||||
| 269 | Principal: Jack | 3 | 20 | 438 | $ | 8,760 | $ | — | ||||||||||||||||||||||
| 270 | Principal: Marc | 4 | 20 | 438 | $ | 8,760 | $ | — | ||||||||||||||||||||||
| 271 | Principal: Eric | 5 | 10 | 438 | $ | 4,380 | $ | — | ||||||||||||||||||||||
| 272 | Principal: Lauren | 6 | 10 | 438 | $ | 4,380 | $ | — | ||||||||||||||||||||||
| 273 | Principal: Kira | 7 | 10 | 438 | $ | 4,380 | $ | — | ||||||||||||||||||||||
| 274 | $ | — | $ | — | ||||||||||||||||||||||||||
| 275 | Secondary: Jimi | 8 | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||||
| 276 | Secondary: Frank | 9 | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||||
| 277 | Secondary: Valarie | 10 | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||||
| 278 | Secondary: Jen | 11 | 5 | 438 | $ | 2,190 | $ | — | ||||||||||||||||||||||
| 279 | Secondary: Jason’s Mom | 12 | 2 | 630 | $ | 1,260 | $ | — | ||||||||||||||||||||||
| 280 | Secondary: Jacks’s Mom | 13 | 2 | 630 | $ | 1,260 | $ | — | ||||||||||||||||||||||
| 281 | Secondary: Girl | 14 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 282 | Secondary: Student | 15 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 283 | Secondary: Stud 1 | 16 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 284 | Secondary: Stud 2 | 17 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 285 | Secondary: Stud 3 | 18 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 286 | Secondary: Stud 4 | 19 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 287 | Secondary: Host 1 | 20 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 288 | Secondary: Host 2 | 21 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 289 | Secondary: Cashier | 22 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 290 | Secondary: Usher | 23 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 291 | Secondary: Store Clerk | 24 | 1 | 630 | $ | 630 | $ | — | ||||||||||||||||||||||
| 292 | $ | — | $ | — | ||||||||||||||||||||||||||
| 293 | Stunt Player Jason | 1 | 630 | $ | 630 | $ | — | |||||||||||||||||||||||
| 294 | Stunt Player Mike | 1 | 630 | $ | 630 | $ | — | |||||||||||||||||||||||
| 295 | Stunt Player Jack | 1 | 630 | $ | 630 | $ | — | |||||||||||||||||||||||
| 296 | Stunt Player Marc | 1 | 630 | $ | 630 | $ | — | |||||||||||||||||||||||
| 297 | $ | — | $ | — | ||||||||||||||||||||||||||
| 298 | $ | — | $ | — | ||||||||||||||||||||||||||
| Sub-total M | $ | 77,670 | $ | — | ||||||||||||||||||||||||||
| PT/P&W | $ | 13,981 | $ | — | ||||||||||||||||||||||||||
| TOTAL M | $ | 91,651 | $ | — | ||||||||||||||||||||||||||
| N | TALENT EXPENSES | Amount | Rate | X | ESTIMATED | ACTUAL | ||||||||||||||
| 299 | Talent Per Diem | $ | — | $ | — | |||||||||||||||
| 300 | Talent Air Faires | 16 | 450 | $ | 7,200 | $ | — | |||||||||||||
| 301 | Talent Ground Transportation | 3 | 300 | 6 | $ | 5,400 | $ | — | ||||||||||||
| 302 | Talent Hotel | 30 | 85 | 10 | $ | 25,500 | $ | — | ||||||||||||
| 303 | RV Rental | 2 | 1650 | 6 | $ | 19,800 | $ | — | ||||||||||||
| 304 | Honeywagon | 2500 | 4 | $ | — | $ | — | |||||||||||||
| TOTAL N | $ | 57,900 | $ | — | ||||||||||||||||
| Dog On Deck Productions, LLC | Page 6 |
| O | POST PRODUCTION LABOR | Amount | Rate | X | ESTIMATED | ACTUAL | ||||||||||||||
| 305 | Post Coordinator | $ | — | $ | — | |||||||||||||||
| 306 | Off-line/Online Editor | 60 | $ | 600.00 | $ | 36,000 | $ | — | ||||||||||||
| 307 | Assistant Editor | $ | — | $ | — | |||||||||||||||
| 308 | Post Supervisor | $ | — | $ | — | |||||||||||||||
| 309 | $ | — | $ | — | ||||||||||||||||
| Sub-total O | $ | 36,000 | $ | — | ||||||||||||||||
| PT/P&W | $ | — | ||||||||||||||||||
| TOTAL O | $ | 36,000 | $ | — | ||||||||||||||||
| P | POST PRODUCTION EXPENSES | Amount | Rate | X | ESTIMATED | ACTUAL | ||||||||||||||
| 310 | Hard Drive Purchase (Backups) | 15 | $ | 190.00 | $ | 2,850 | $ | — | ||||||||||||
| 311 | $ | — | $ | — | ||||||||||||||||
| 312 | Off-line Stock | $ | — | $ | — | |||||||||||||||
| 313 | Off-line Other | $ | — | $ | — | |||||||||||||||
| 314 | $ | — | $ | — | ||||||||||||||||
| 315 | Digital 2D/Paint | 10 | $ | 500.00 | $ | 5,000 | $ | — | ||||||||||||
| 316 | Digital 3D/Modeling | $ | — | $ | — | |||||||||||||||
| 317 | Digital Rotoscoping | $ | — | $ | — | |||||||||||||||
| 318 | Digital Compositing | 20 | $ | 500.00 | $ | 10,000 | $ | — | ||||||||||||
| 319 | Digital Stock | $ | — | $ | — | |||||||||||||||
| 320 | Color Correction | 5 | $ | 1,000.00 | $ | 5,000 | $ | — | ||||||||||||
| 321 | $ | — | $ | — | ||||||||||||||||
| 322 | Music Rights (license popular music) | 1 | $ | 10,000.00 | $ | 10,000 | $ | — | ||||||||||||
| 323 | VO/ADR | 10 | $ | 600.00 | $ | 6,000 | $ | — | ||||||||||||
| 324 | Sound Effects | $ | — | $ | — | |||||||||||||||
| 325 | Sound Design | $ | — | $ | — | |||||||||||||||
| 326 | Audio Transfers | $ | — | $ | — | |||||||||||||||
| 327 | Audio Mix 5.1 | 15 | $ | 600.00 | $ | 9,000 | $ | — | ||||||||||||
| 328 | Music Recording for Score | 1 | $ | 10,000.00 | $ | 10,000 | $ | — | ||||||||||||
| 329 | $ | — | $ | — | ||||||||||||||||
| 330 | Film to Tape Color Correction | $ | — | $ | — | |||||||||||||||
| 331 | Tape to Tape Color Correction | $ | — | $ | — | |||||||||||||||
| 332 | Pin Registered Transfer | $ | — | $ | — | |||||||||||||||
| 333 | Telecine Stock | $ | — | $ | — | |||||||||||||||
| 334 | Telecine Other | $ | — | $ | — | |||||||||||||||
| 335 | $ | — | $ | — | ||||||||||||||||
| 336 | On-line Conform | $ | — | $ | — | |||||||||||||||
| 337 | Character Generator | $ | — | $ | — | |||||||||||||||
| 338 | Closed Captions | $ | — | $ | — | |||||||||||||||
| 339 | Color Camera | $ | — | $ | — | |||||||||||||||
| 340 | On-line Stock | $ | — | $ | — | |||||||||||||||
| 341 | Edited Master | $ | — | $ | — | |||||||||||||||
| 342 | Clones | $ | — | $ | — | |||||||||||||||
| 343 | Dubs | $ | — | $ | — | |||||||||||||||
| 344 | $ | — | $ | — | ||||||||||||||||
| 345 | Standards Conversion | $ | — | $ | — | |||||||||||||||
| 346 | Satellite/Digital Transmission | $ | — | $ | — | |||||||||||||||
| 347 | Stock Footage | $ | — | $ | — | |||||||||||||||
| 348 | Animation | $ | — | $ | — | |||||||||||||||
| 349 | Film Editing | $ | — | $ | — | |||||||||||||||
| 350 | Opticals | $ | — | $ | — | |||||||||||||||
| 351 | Negative Cutting | $ | — | $ | — | |||||||||||||||
| 352 | Add’l Lab Work | $ | — | $ | — | |||||||||||||||
| 353 | Tape to Film Transfer | $ | — | $ | — | |||||||||||||||
| 354 | Director Marketing Travel | $ | — | $ | — | |||||||||||||||
| 355 | Post Working Meals | $ | — | $ | — | |||||||||||||||
| 356 | $ | — | $ | — | ||||||||||||||||
| 357 | Post Micellaneous | 20 | $ | 25.00 | $ | 500 | $ | — | ||||||||||||
| TOTAL P | $ | 58,350 | $ | — | ||||||||||||||||
| 3.) | List of beneficial owners of the film Potential: |
| 1.) | Dog on Deck Productions, LLC; 40% |
| 2.) | Jason Slawson; 15% |
| 3.) | Michael Scheffler; 15% |
| 4.) | Tracie Hovey; 15% |
| 5.) | Grant Slawson; 15% |
| 1.) | This does not apply as this company is a single proprietorship, Limited Liability Company that is new and has not been in business long enough to generate the information requested. |
ARTICLES OF ORGANIZATION
The undersigned, with the intention of creating a Maryland Limited Liability Company files the following Articles of Organization.
| (1) The name of the Limited Liability Company is. | Dog Deck Productions, LLC |
| (2) The purpose for which the Limited Liability Company is filed is as follows |
Entertainment - Production company creating original material and shooting corporate events Film and television
| (3) The address of the Limited Liability Company in Maryland is |
9503 Tippert Lane, Montgomery Village, Maryland 20686
| (4) The resident agent of the Limited Liability Company in Maryland is |
Jason Slawson
| Whose address is | 9503 Tippert, Montgomery Village, Maryland 20686 |
(5) | (6)  | |
| Resident Agent | ||
| Chayenne Moseley, Assistant Secretary | I hereby consent to my designation in this document. | |
| Jason Stawson |
| Signature(a) of Authorized Person(s) | CUST ID 0003538337
|
| Filling party’s return address: | |
| (7) | |
| C/O LegalZoom.com, Inc. | |
| 101 N. Brand Blvd, 11th Floor | |
| Glandale, CA 91203 |
