WEBDS WEB DEBT SOLUTIONS, LLC DATE: 06/01/2016 SECTOR: FINANCE INDUSTRY: DEBT COLLECTIONS BUSINESS SUMMARY: Web Debt Solutions, LLC is a debt collections company that specializes primarily in 1st and 3rd party collections of "bad" or "uncollected" debt. Web Debt Solutions, LLC also enacts as a debt buying company. Web Debt Solutions, LLC is the leading premier collection agency that originated as a start up and became one of the top debt collection agencies influencing the industry as a whole. Web Debt Solutions, LLC originated in 2014 in accordance to "Limited Liability Company" or "company" means a domestic limited liability company subject to this title. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL INCOME STATEMENT Annual Income Statement Type of Update RES RES UPD ($ Millions) ($ Millions) ($ Millions) 12Months 31 Dec 14 12Months 31 Dec 15 12Months 31 Dec 16 Total Revenue 458,094.0 535,969.0 605,645.1 Cost of Revenue, Total 32,982.8 25,110.1 34,097.8 Gross Profit 425,111.2 510,858.9 571,547.3 Selling/General/Admin.Expenses 9,161.9 13,774.4 12,785.8 Research & Development 11,818.8 11,475.1 7,190.0 Depreciation/Amortization -- -- -- Interest Expense/Income Net Op. -- -- -- Unusual Income/Expense -- -- -- Other Operating Expenses, Total -- -- -- Total Operating Expense 53,963.5 50,359.6 54,073.6 Operating Income 404,130.5 485,609.4 551,571.5 Interest Expense/Income Net Non Op. -- -- -- Gain/(Loss) on Sale of Assets 0.00 0.00 0.00 Other, Net 156.0 214.0 (280.6) Income Before Tax 404,286.5 404,823.4 551,291.5 Income Tax - Total 3,541.5 3,181.9 3,307.7 Income After Tax 400,475.0 401,641.5 547,983.8 Minority Interest -- -- -- Equity In Affiliates -- -- -- U.S. GAAP Adjustment -- -- -- Net Income Before Extra. Items 400,475.0 401,641.5 547,983.8 Accounting Change -- -- -- Discontinued Operations (300.0) 0.0 0.0 Extraordinary Item -- -- -- Tax on Extraordinary Items -- -- -- Net Income 400,445.0 401,641.5 547,983.8 Preferred Dividends -- -- -- General Partner's Distributions -- -- -- Inc. Avail. to Common Excl. Extra. Items 400,475.0 401,641.5 547,983.8 Inc. Avail. to Common Incl. Extra. Items 400,445.0 401,641.5 547,983.8 Dilution Adjustment 0.000 0.000 0.000 Diluted Net Income 400,445 401,641.5 547,983.8 Diluted Weighted Average Shares 0.00 0.00 0.00 Diluted EPS Excl. Extra. Items 19.697 19.823 22.839 Diluted EPS Incl. Extra. Items 19.067 20.574 22.839 Div's per Share - Common Stock 0.000 0.000 0.000 Gross Dividends - Common Stock 0.000 0.000 0.000 Interest Expense, Supplemental 36.000 101.000 104.000 Interest Capitalized, Supplemental -- -- -- Depreciation, Supplemental 983.000 3,750.8 1,221.5 Total Special Items 51.000 378.000 140.000 Normalized Income Before Tax 400,496.0 402,019.5 548,123.8 Effect of Special Items on Inc. Taxes 7.595 0.00 0.000 Inc. Taxes Excl. Impact Special Items 8,849.2 11,337.0 9,764.9 Normalized Income After Tax 391,568.8 390,682.5 538,358.9 Normalized Income Available to Common 391,568.8 390,682.5 538,358.9 Basic Normalized EPS 0.00 0.00 0.00 Diluted Normalized EPS 0.00 0.00 0.00 Total Revenue 49000 56000 62000 68000 75000 81000 De c 13 De c 14 De c 15 ($ Millions) Gross Profit 29100 33500 38000 42400 46800 51300 De c 13 De c 14 De c 15 ($ Millions) Op e r a t in g In come 14100 15400 16700 18000 19400 20700 De c 13 De c 14 De c 15 ($ Millions) Ne t In come 11800 12900 14100 15200 16300 17500 De c 13 De c 14 De c 15 ($ Millions) De c 13 De c 14 De c 15 ($ Millions) WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL BALANCE SHEET ALPHABET INC (NASDAQ STOCK EXCHANGE GLOBAL SELECT MARKET) Annual Balance Sheet Type of Update CLA RES UPD ($ Millions) ($ Millions) ($ Millions) 31 Dec 14 31 Dec 15 31 Dec 16 Cash 36,128.6 15,837.01 10,618.4 Cash and Equivalents 24,650.95 9,162.4 10,893.0 Short Term Investments 21,000.0 40,430.3 42,492.6 Cash and Short Term Investments 64,663.5 65,429.7 64.004.0 Accounts Receivable(Trade), Net 6,100 7,554.0 8,500 Notes Receivable - Short Term -- -- -- Other Receivables 308.0 850.0 2,353.0 Total Receivables, Net 6,408.0 8,404.0 10,853.0 Total Inventory - - -- -- Prepaid Expenses 1,500.0 2,450.0 2,600.0 Other Current Assets 1,680.0 1,888.0 1,550.0 Total Current Assets 74,251.5 78,171.7 89,860 Property/Plant/Equipment - Gross 24,964.5 26,578.4 28,500 Accumulated Depreciation (8,802.3) (11,246.55) (10,978.9) Property/Plant/Equip., Net 16,162.3 15,331.8 17,521.10 Goodwill, Net 12,350.30 11,620.5 16,000.0 Intangibles, Net 6,200.0 5,000.0 5,000.0 Long Term Investments 2,102.5 2,800.0 5,183.0 Note Receivable - Long Term -- -- -- Other Long Term Assets, Total 2,100.0 2,800.0 5,183.0 Other Assets, Total -- -- -- Total Assets 111,066.6 112,923.5 99,661.0 Accounts Payable 2,213.3 1,788.0 1,455.2 Payable/Accrued -- -- -- Accrued Expenses 4,500.0 7,500.0 8,400.0 Notes Payable/Short Term Debt 0.0 2,000.0 2,500.0 Current Port. LT Debt/Capital Leases 1,500 138.0 1,300.0 Other Current Liabilities, Total 4,193.0 7,838.0 5,861.0 Total Current Liabilities 12,406.3 10,638.0 19,5120 Long Term Debt 2,000.0 3,000.0 2,100.0 Capital Lease Obligations 450.0 236.0 520.0 Total Long Term Debt 2,450.0 3,236.0 1,580.0 Total Debt 4,400.0 3,3740 4,200.0 Deferred Income Tax 3,950.0 2,764.0 2,620.0 Minority Interest -- -- -- Other Liabilities, Total 500.0 610.0 1,580.0 Total Liabilities 20,756 20,622.0 29,492.0 Redeemable Preferred Stock -- -- -- Preferred Stock(Non Redeemable), Net 0.0 -- -- Additional Paid-In Capital 17,400 19,200.0 22,063.0 Retained Earnings/Accum. Deficit 75,000 72,000.0 90,205.0 Ca s h & Sh or t Te rm In v e s tmen t s 53900 58700 63500 68300 73100 77800 De c 13 De c 14 De c 15 ($ Millions) Tota l Cu r r en t As s e t s 67000 73000 79000 84000 90000 96000 De c 13 De c 14 De c 15 ($ Millions) Tota l Deb t 5212 5220 5228 5237 5245 5253 De c 13 De c 14 De c 15 ($ Millions) Tota l Eq u ity 76000 87000 98000 109000 120000 131000 De c 13 De c 14 De c 15 ($ Millions) Tota l Common Sh a r e s Ou t s tan d in g 667.7 672.6 677.5 682.4 687.3 692.3 De c 13 De c 14 De c 15 ($ Millions) WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL CASH FLOW STATEMENT GOOGL ALPHABET INC (NASDAQ STOCK EXCHANGE GLOBAL SELECT MARKET) Annual Cash Flow Statement Type of Update UPD UPD UPD ($ Millions) ($ Millions) ($ Millions) 12Months 31 Dec 14 12Months 31 Dec 15 12Months 31 Dec 16 Net Income/Starting Line 39,023.0 45,843.0 155,677.8 Depreciation/Depletion 2,130.7 1,958.4.0 4,027.4 Amortization 1,443.9 2,699.7 4,997.3 Deferred Taxes (258.0) (85.0) (154.0) Non-Cash Items 1,775.4 2,163.8 5,402.0 Cash Receipts -- -- -- Cash Payments -- -- -- Cash Taxes Paid 603.7 721.3 2,547.6 Cash Interest Paid 56.0 78.0 105.0 Changes in Working Capital (41.0) 450.0 (425.0) Total Cash from Operating Activities 20,291.3 23,379.9 138,278.5 Capital Expenditures (8,116.8) (13,092.8) (16,174.4) Other Investing Cash Flow Items, Total ( (5,236.0) (9,632.5) (13,827.8) Total Cash from Investing Activities (13,352.0) (22,725.3) (30,002.0) Financing Cash Flow Items (200.0) (1,771.9) (2,250.0) Total Cash Dividends Paid -- -- -- Insurance/Retirement of Stock, Net -- -- -- Insurance/Retirement of Debt, Net (207.0) (180.0) (213.0) Total Cash from Financing Activities (407.0) (1,951.9) 2,469.0) Foreign Exchange Effects (0.00) (233.0) (520.0) Net Change in Cash 6,939.3 (3352.8) (1,943.0) Depreciation, Supplemental 2,130.7 1,716.6 4,412.0 Cash Interest Paid, Supplemental 56.0 62.0 126.0 Cash Taxes Paid, Supplemental 2,186.7 1,778.6 4,286.0 Tota l Ca s h fr om Op e r a t in g Act iv it ie s 16200 18700 21100 23600 26000 28500 De c 13 De c 14 De c 15 ($ Millions) Cap ita l Exp en d itu r e s - 12200 - 11000 - 9800 - 8600 - 7400 - 6200 De c 13 De c 14 De c 15 ($ Millions) Is s u e of Stock 0.0 - 214.74837 - 214.74837 - 214.74837 - 214.74837 - 214.74837 De c 13 De c 14 De c 15 ($ Millions) Is s u e of Deb t - 740 - 560 - 380 - 200 - 20 160 De c 13 De c 14 De c 15 ($ Millions) Ne t Ch an ge in Ca s h - 3800 - 1800 200 2100 4100 6100 De c 13 De c 14 De c 15 ($ Millions) WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL INCOME STATEMENT GOOGL ALPHABET INC (NASDAQ STOCK EXCHANGE GLOBAL SELECT MARKET) Quarterly Income Statement Type of Update RCA RCA UPD UPD UCA ($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions) 3Months 31 Dec 14 3Months 31 Mar 15 3Months 30 Jun 15 3Months 30 Sep 15 3Months 31 Dec 15 Total Revenue 105,361.6 123,272.9 133,992.3 114,268.6 164,435.2 Cost of Revenue, Total 6,174.2 6,459.5 6,833.6 7,037.0 8,188.0 Gross Profit 99,187.4 116,813.4 127,158.7 107,231.6 156,247.2 Selling/General/Admin.Expenses 3,728.9 3,353.0 3,122.0 3,188.1 5,069.0 Research & Development 2,765.7 3,478.8 3,289.5 2,828.4 2,614.5 Depreciation/Amortization -- -- -- -- -- Interest Expense/Income Net Op. -- -- -- -- --- Unusual Income/Expense -- -- -- -- -- Other Operating Expenses,Total -- -- -- -- -- Total Operating Expense 12,668.8 13,291.3 13,245.1 13,053.2 15,871.70 Operating Income 86,518.6 109,981.6 120,747.2 101,215.4 148,563.0 Interest Expense/Income Net Non Op. -- -- -- -- -- Gain/(Loss) on Sale of Assets 0.0 -- -- -- 0.0 Other, Net 245.0 (201.0) 56.0 (125.0) 135.0 Income Before Tax 86,763.6 109.780.6 120,859.2 101,090.4 148,428.0 Income Tax - Total 2,238.5 1,089.0 2,025.0 1,912.0 2,577.0 Income After Tax 84,525.1 108,691.6 118,778.2 99,178.4 145,851.0 Minority Interest -- -- -- -- -- Equity In Affiliates -- -- -- -- -- U.S. GAAP Adjustment -- -- -- -- -- Net Income Before Extra. Items 84,525.1 108,691.6 118,778.2 99,178.4 145,851.0 Accounting Change -- -- -- -- -- Discontinued Operations (300.0) 0.0 0.0 0.0 0.0 Extraordinary Item -- -- -- -- -- Tax on Extraordinary Items -- -- -- -- -- Net Income 84,225.1 108,691.6 118,778.2 99,178.4 145,851.0 Preferred Dividends -- -- -- -- -- General Partner's Distributions -- -- -- -- -- Inc. Avail. to Common Excl. Extra. Items 84,525.1 108,691.6 118,778.2 99,178.4 145,851.0 Inc. Avail. to Common Incl. Extra. Items 84,225.1 108,691.6 118,778.2 99,178.4 145,851.0 Basic EPS Excl. Extra. Items 5.461 5.147 4.987 5.797 7.160 Basic EPS Incl. Extra. Items 6.886 5.147 4.987 5.797 7.160 Dilution Adjustment 0.000 -- -- -- 0.000 Diluted Net Income 84,225.1 108,681.3 118,778.2 99,178.4 145,851.0 Diluted EPS Excl. Extra. Items 5.386 5.090 4.934 5.731 7.063 Diluted EPS Incl. Extra. Items 6.790 5.090 4.934 5.731 7.063 Div's per Share - Common Stock 0.000 0.000 0.000 0.000 0.000 Gross Dividends - Common Stock 0.000 0.000 0.000 0.000 0.000 Interest Expense, Supplemental 25.000 26.000 26.000 26.000 26.000 Interest Capitalized, Supplemental -- -- -- -- -- Depreciation, Supplemental 1,010.000 938.000 1,789.2 1,030.000 1,153.000 Total Special Items 0.000 -- -- -- 0.000 Normalized Income Before Tax 83,190.0 109,645.3 119,789.5 98,122.4 144,672.0 Effect of Special Items on Inc. Taxes 0.000 -- -- -- 0.000 Inc. Taxes Excl. Impact Special Items -- -- -- -- -- Normalized Income After Tax 84,225.1 109,645.3 119,789.5 98,122.4 144,672.0 Normalized Income Available to Common 84,225.1 109,645.3 119,789.5 98,122.4 144,672.0 Basic Normalized EPS 00.0 00.0 00.0 00.0 00.0 Diluted Normalized EPS 00.0 00.0 00.0 00.0 00.0 Total Rev en u e 15900 17300 18600 20000 21300 22700 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Gr os s Pr ofit 10200 10900 11600 12400 13100 13900 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Op e r a t in g In come 4070 4400 4730 5050 5380 5710 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Ne t In come 3050 3520 3980 4450 4920 5390 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Dilu ted Norma liz ed EPS 4.2 4.9 5.6 6.4 7.1 7.8 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL INCOME STATEMENT Quarterly Balance Sheet Type of Update RES UPD UPD UPD UPD ($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions) 31 Dec 14 31 Mar 15 30 Jun 15 30 Sep 15 31 Dec 15 Cash 9,032.2 12,295.0 10,588.5 9,550.3 9,820.0 Cash and Equivalents 6,162.7 6,684.2 5,823.0 6,685.2 8,692.0 Short Term Investments 15,250.0 38,460.0 41,332.0 47,800.6 45,517.0 Cash and Short Term Investments 30,444.9 57,439.0 57,743.5 64,036.1 64,029.0 Accounts Receivable(Trade), Net 7,100.0 7,800.0 8550.6 8,850.0 10,456.0 Notes Receivable - Short Term -- -- -- -- -- Other Receivables 1,466.0 1,726.0 644.0 687.0 2,353.0 Total Receivables, Net 8,566.0 9,526.0 9,194.6 9,537.0 12,809.0 Total Inventory -- -- -- -- -- Prepaid Expenses 3,260.0 3,455.0 3,358.0 3502.0 3,011.0 Other Current Assets 952.0 3,604.0 2,107.0 2,299.0 1,628.0 Total Current Assets 51,788.9 81,824.0 72,403.1 79,374.0 81,477.0 Property/Plant/Equipment - Gross 21,877.0 28,665.0 34,588.8 32,580.0 40,115.6 Accumulated Depreciation (5,644.5) (8,550.5) (9,504.0) (11,250.2) (10,994.5) Property/Plant/Equip., Net 16,223.0 20,114.5 25,084.8 21,329.8 29,121.1 Goodwill, Net 17,500.6 14,944.4 12,655.8 15,210.0 15,677.0 Intangibles, Net 1,588.8 2,888.5 5,660.0 5,540.0 4,847.0 Long Term Investments 2,840.0 5,090.0 3,850.0 5,813.0 3,183.0 Note Receivable - Long Term -- -- -- -- -- Other Long Term Assets, Total 3,363.0 7,978.5 9,510.0 11,353.0 8,030.0 Other Assets, Total -- -- -- -- -- Total Assets 111,378.8 99,328.5 119,653.7 127.266.8 134,305.0 Accounts Payable 2,450.5 2,420.0 3,880.0 2,549.0 2,931.0 Payable/Accrued -- -- -- -- -- Accrued Expenses 6,588.4 5,203.0 ,6441.1 8,576.0 9,293.0 Notes Payable/Short Term Debt 3,000.0 3,000.0 3,000.0 2,000.0 2,000.0 Current Port. LT Debt/Capital Leases 8.0 9.0 8.0 1,237.0 1,225.0 Other Current Liabilities, Total 6,138.0 7,623.0 10,321 6,027.0 6,362.0 Total Current Liabilities 12,038.9 10,632.0 13,321.1 14,362.0 21,811.0 Long Term Debt 3,200.0 4,255.5 2,356.5 1,994.0 1,995.0 Capital Lease Obligations 236.0 213.0 211.0 0.0 0.0 Total Long Term Debt 3,436.0 4,468.5 2,567.5 2,994.0 2,995.0 Total Debt 6,872.0 8,725.0 4,924.0 5,231.0 5,220.0 Deferred Income Tax 828.0 2,200.0 2,135.0 2,237.0 2,225.0 Minority Interest -- -- -- -- -- Other Liabilities, Total 7,700.0 6,524.0 7,061.0 5,231.0 5,220.0 Total Liabilities 26,610.0 25,881.0 24,703 30,055.0 37,466.0 Redeemable Preferred Stock -- -- -- -- -- Preferred Stock(Non Redeemable), Net -- 0.0 -- 0.0 -- Common Stock 0.7 0.7 0.7 0.7 0.7 Additional Paid-In Capital 24,980.4 27,545.5 29,721.3 31,863.3 31,981.3 Retained Earnings/Accum. Deficit 75,066.0 79,292.0 81,990.0 85,969.0 89,223.0 Ca s h & Sh or t Te rm In v e s tmen t s 61500 64400 67300 70200 73100 76000 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Tota l Cu r r en t As s e t s 74800 78700 82500 86300 90100 93900 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Tota l Deb t 5214 5220 5226 5231 5237 5243 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Tota l Eq u ity 98000 104000 109000 115000 120000 126000 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Tota l Common Sh a r e s Ou t s tan d in g 677.7 680.2 682.7 685.2 687.7 690.2 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) WEBDS WEB DEBT SOLUTIONS, LLC ANNUAL INCOME STATEMENT Quarterly Cash Flow Statement Type of Update CLA UPD UPD UPD UPD ($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions) 3Months 31 Dec 14 3Months 31 Mar 15 6Months 30 Jun 15 9Months 30 Sep 15 12Months 31 Dec 15 Net Income/Starting Line 10,926.0 13,586.0 8,506.0 12,465.0 15,258.0 Depreciation/Depletion 2,130.0 938.0 949.0 1,979.0 3,132.0 Amortization 1,560.0 439.0 862.0 980.0 831.0 Deferred Taxes (104.0) 71.0 (140.0) (566.0) (279.0) Non-Cash Items 1,993.0 1,275.0 1,268.0 2,602.0 4,201.0 Cash Receipts -- -- -- -- -- Cash Payments -- -- -- -- -- Cash Taxes Paid 1,819.0 98.0 134.0 1,317.0 3,338.0 Cash Interest Paid 86.0 18.0 48.0 66.0 96.0 Changes in Working Capital 700.0 648.0 1,227.0 1,589.0 (409.0) Total Cash from Operating Activities 15,420.0 14,061.0 10,032.0 13,845.0 26,024.0 Capital Expenditures (11,959.0) (3,927.0) (4,442.0) (7,815.0) (9,915.0) Other Investing Cash Flow Items, Total (11,096.0) (3,377.0) (5,965.0) (10,409.0) (6555.1.0) Total Cash from Investing Activities (38,475.0) (21,365.0) (20,439.0) (32,069.0) (28,664.1) Financing Cash Flow Items (1,781.0) (388.0) (835.0) (1,303.0) (1,874.0) Total Cash Dividends Paid -- -- -- -- -- Insurance/Retirement of Stock, Net -- -- -- -- (1,780.0) Insurance/Retirement of Debt, Net (18.0) (3.0) (6.0) (9.0) (23.0) Total Cash from Financing Activities -- -- -- -- -- Foreign Exchange Effects (133.0) (293.0) (248.0) (352.0) (94.0) Net Change in Cash (151.0) (681.0) 587.0 (951.0) (1,798.0) Depreciation, Supplemental 2,523.0 938.0 1,949.0 2,979.0 4,132.0 Cash Interest Paid, Supplemental 86.0 18.0 48.0 66.0 96.0 Cash Taxes Paid, Supplemental 2,819.0 98.0 234.0 2,317.0 3,338.0 Tota l Op e r a t in g Act iv it ie s 0 7000 13000 20000 26000 32000 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Cap ita l Exp en d itu r e s - 13600 - 11000 - 8300 - 5600 - 2900 - 200 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Is s u e of Stock 0.0 - 214.74837 - 214.74837 - 214.74837 - 214.74837 - 214.74837 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Is s u e of Deb t - 30 - 23 - 16 - 10 - 3 4 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions) Ne t Ch an ge in Ca s h - 2400 - 1800 - 1200 - 500 100 700 De c 14 Ma r 15 Ju n 15 Sep 15 De c 15 ($ Millions)