Discounted Cashflow Model Get the MS Excel template at www.gazhoo.com
EXHIBIT #1 - Ratio Analysis
INPUTS
2005 2006 2007
INPUTS BALANCE SHEET
Cash 3,877,174 3,544,671 6,081,593
Accounts Receivable 737,317 1,352,053 2,376,312
Inventory 0 0 -
Total Current 9,001,071 13,039,847 17,289,138
Total ASSETS 10,271,813 18,473,351 25,335,806
Accounts Payable 672,285 1,199,451 1,857,529
Total Current 745,384 1,304,587 2,035,602
Total LIABILITIES