5 year cashflow Cal Marine SCAM????

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This document was created to entice investors into a snare - the words Nigerian Scam ring a bell - Investors Beware it screams....scam, fraud all come to mind....

Search for John Cutten Fraudster....Caveat Emptor - watch out!!!!

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5 year cashflow Cal Marine SCAM????

  1. 1. CAL MARINE - One PlantBudget 2008 - 2013FINANCIAL SUMMARY 2008 2009 2010 2011 2012 2013$US Annual Budget Annual Budget Annual Budget Annual Budget Annual Budget Annual BudgetMachines Produced 105 180 180Total Machines Installed 105 285 465Cash at Beginning of Month - 614,316,371 372,498,100 369,445,400 (453,368,097) (565,508,782)Use of CashDevelopment Costs - 135,800,000 - - - -Site Costs, Foundations and Siting - - - 126,000,000 216,000,000 216,000,000Ex Factory Cost ($6m per unit) - - - 828,514,050 1,420,309,800 1,420,309,800Assembly Costs in Floating Dock - - - 207,548,670 355,797,720 355,797,720Finishing Costs (Incl Labour/Transport) - - - 63,000,000 108,000,000 108,000,000Plant and Equipment 30,000,000 25,000,000 - - - -Land and Building Factory ($5m plus $53m) 58,000,000 - - - - -Tooling Moulds ($24m) - 24,000,000 - - - -Floating Docks x 2 ($150m) 150,000,000 - - - - -Engineering ($15.15m) 10,821,429 4,328,571 - - - -Technology Transfer - To CAL + HTF Royalties 15,000,000 - - 49,710,843 85,218,588 85,218,588Cost of Sales Water per m3 + Barges - - - 202,537,454 800,269,939 1,511,620,996Cost of Sales Electricity - - - 77,153,481 304,850,338 575,828,416Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover - - - 57,937,933 228,925,491 432,414,816Tug Towage to Site Cost - - - 15,750,000 27,000,000 27,000,000Undersea Cable & Pipework to Shore - Placement and Anchoring - - - 105,000,000 180,000,000 180,000,000CAL Marine Tugs - Ex Factory Cost - - - 15,810,000 18,000,000 18,000,000Tug Manufacturing Plant - Capital Cost 50,000,000 50,000,000 - - - -Total Asset Purchases 313,821,429 239,128,571 - 1,748,962,430 3,744,371,875 4,930,190,335Cash Flow from Operating Activities - - - - - -Loan Repayment at 6% interest - - - - - -Operating (Deficiency) / Surplus (21,862,200) (2,689,700) (3,052,700) (3,237,700) (4,747,700) (4,747,700)Sale of Water - $US0.70 per m3 - - 150,585,313 594,995,625 1,123,880,625Sale of Electricity - $US50.00 per MWh (61,320MWh annually) - - - 448,950,000 1,773,900,000 3,350,700,000Water Power Generation (113,880MWh annually) - - - 291,817,500 1,153,035,000 2,177,955,000Ex Factory Margin - - - - - -Add Back Tug Transport - - - 15,750,000 27,000,000 27,000,000Add Back 2.5% to CAL Marine - - - 22,283,820 88,048,266 166,313,391Total (21,862,200) (2,689,700) (3,052,700) 926,148,933 3,632,231,191 6,841,101,316Net (Deficiency) / Surplus before Investing (335,683,629) 372,498,100 369,445,400 (453,368,097) (565,508,782) 1,345,402,198Cash Flow from Financing Activities 950,000,000 - - - - -Invested Share Capital 950,000,000 - - - - -Net - Surplus (Deficiency) - before Commissions 614,316,371 372,498,100 369,445,400 (453,368,097) (565,508,782) 1,345,402,198Less: Funding Commissions 9,500,000 - - - - -Net - Surplus (Deficiency) - after Commissions 604,816,371 372,498,100 369,445,400 (453,368,097) (565,508,782) 1,345,402,198Cash at End of Month 604,816,371 372,498,100 369,445,400 (453,368,097) (565,508,782) 1,345,402,198Net Cash Flow Surplus (Deficit) 604,816,371 (241,818,271) (3,052,700) (822,813,497) (112,140,685) 1,910,910,980
  2. 2. CAL MARINE - One PlantBudget 2008 - 2013USE OF CASH 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008$US Annual Budget Jan Feb March April May June July Aug Sept Oct Nov DecMachines Produced per MonthTotal Machines Installed 0 0 0 0 0 0 0 0 0 0 0 0 0Cash at Beginning of Month $- $950,000,000 $933,178,150 $931,356,300 $897,370,164 $870,548,314 $832,728,845 $797,073,662 $759,254,193 $723,599,010 $703,279,540 $668,457,690 $640,304,887Use of CashDevelopment Costs $- - - - - - - - - - - - -Site Costs, Foundations and Siting $-Ex Factory Cost ($6m per unit) $-Assembly Costs in Floating Dock $-Finishing Costs (Incl. Labour & Transport) $-Plant and Equipment (for Floating Dock & Main Factory) $30,000,000 - - - - - - - - 7,500,000 7,500,000 7,500,000 7,500,000Land and Building - Factory ($5m + $53m) $58,000,000 - - 5,000,000 - 8,833,333 8,833,333 8,833,333 8,833,333 8,833,333 8,833,333 - -Tooling Moulds ($24m) $- - - - - - - - - - - - -Floating Docks x 3 ($150m) $150,000,000 - - 25,000,000 25,000,000 25,000,000 25,000,000 25,000,000 25,000,000 - - - -Engineering ($15.15m) $10,821,429 - - 2,164,286 - 2,164,286 - 2,164,286 - 2,164,286 - 2,164,286 -Technology Transfer - To CAL + HTF Royalties $15,000,000 15,000,000 - - - - - - - - - - -Cost of Sales Water per m3 + Barges $-Cost of Sales Electricity $-Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover $-Tug Towage to Site Cost $-Undersea Cable & Pipework to Shore - Placement and Anchoring $CAL Marine Tugs - Ex Factory Cost $-Tug Manufacturing Plant - Capital Cost $50,000,000 16,666,667 16,666,667 16,666,666Total Asset Purchases $313,821,429 15,000,000 - 32,164,286 25,000,000 35,997,619 33,833,333 35,997,619 33,833,333 18,497,619 33,000,000 26,330,953 24,166,666 $- $-Cash Flow from Operating ActivitiesLoan Repayment at 6% interest $-Operating (Deficiency) / Surplus $(21,862,200) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850)Sale of Water - $US0.70 per m3 $-Sale of Electricity - $US50.00 per MWh (61,320MWh annually) $-Water Power Generation (113,880MWh annually) $-Add Back Tug Transport $-Add Back 2.5% to CAL Marine $-Total $(21,862,200) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850) (1,821,850)Net (Deficiency) / Surplus before Investing (335,683,629) 933,178,150 931,356,300 897,370,164 870,548,314 832,728,845 797,073,662 759,254,193 723,599,010 703,279,540 668,457,690 640,304,887 614,316,371 $(335,683,629) 933,178,150 931,356,300 897,370,164 870,548,314 832,728,845 797,073,662 759,254,193 723,599,010 703,279,540 668,457,690 640,304,887 614,316,371Cash Flow from Financing Activities $950,000,000Invested Share Capital $950,000,000Net - Surplus (Deficiency) - before Commissions $614,316,371 933,178,150 931,356,300 897,370,164 870,548,314 832,728,845 797,073,662 759,254,193 723,599,010 703,279,540 668,457,690 640,304,887 614,316,371Less: Funding Commissions $9,500,000Net - Surplus (Deficiency) - after Commissions $604,816,371 933,178,150 931,356,300 897,370,164 870,548,314 832,728,845 797,073,662 759,254,193 723,599,010 703,279,540 668,457,690 640,304,887 614,316,371Cash at End of Month $604,816,371 $933,178,150 $931,356,300 $897,370,164 $870,548,314 $832,728,845 $797,073,662 $759,254,193 $723,599,010 $703,279,540 $668,457,690 $640,304,887 $614,316,371
  3. 3. CAL MARINE - One PlantBudget 2008 - 2013 22 23 24 25 26 27 28 29 30 31 32 33USE OF CASH 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009$US Annual Budget Jan Feb March April May June July Aug Sept Oct Nov DecMachines Produced per MonthTotal Machines Installed 0 0 0 0 0 0 0 0 0 0 0 0 0Cash at Beginning of Month $614,316,371 $614,316,371 $585,011,277 $555,706,183 $513,476,486 $487,913,456 $468,600,425 $449,287,394 $433,974,364 $418,661,333 $403,348,303 $388,035,272 $372,722,242Use of CashDevelopment Costs $135,800,000 - - 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 -Site Costs, Foundations and Siting $-Ex Factory Cost ($6m per unit) $-Assembly Costs in Floating Dock $-Finishing Costs (Incl. Labour & Transport) $-Plant and Equipment (for Floating Dock & Main Factory) $25,000,000 6,250,000 6,250,000 6,250,000 6,250,000 - - - - - - - -Land and Building - Factory ($5m + $53m) $- - - - - - - - - - - - -Tooling Moulds ($24m) $24,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 - - - - - -Floating Docks x 3 ($150m) $- - - - - - - - - - - - -Engineering ($15.15m) $4,328,571 2,164,286 2,164,286 - - - - - - - - - -Technology Transfer - To CAL + HTF Royalties $- - - - - - - - - - - - -Cost of Sales Water per m3 + Barges $-Cost of Sales Electricity $-Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover $-Tug Towage to Site Cost $-Undersea Cable & Pipework to Shore - Placement and Anchoring $-CAL Marine Tugs - Ex Factory Cost $-Tug Manufacturing Plant - Capital Cost $50,000,000 16,666,667 16,666,667 16,666,666Total Asset Purchases $239,128,571 29,080,953 29,080,953 42,005,555 25,338,889 19,088,889 19,088,889 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889 -Cash Flow from Operating ActivitiesLoan Repayment at 6% interest $-Operating (Deficiency) / Surplus $(2,689,700) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142)Sale of Water - $US0.70 per m3 $-Sale of Electricity - $US50.00 per MWh (61,320MWh annually) $-Water Power Generation (113,880MWh annually) $-Add Back Tug Transport $-Add Back 2.5% to CAL Marine $-Total $(2,689,700) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142) (224,142)Net (Deficiency) / Surplus before Investing 372,498,100 585,011,277 555,706,183 513,476,486 487,913,456 468,600,425 449,287,394 433,974,364 418,661,333 403,348,303 388,035,272 372,722,242 372,498,100 $372,498,100 585,011,277 555,706,183 513,476,486 487,913,456 468,600,425 449,287,394 433,974,364 418,661,333 403,348,303 388,035,272 372,722,242 372,498,100Cash Flow from Financing Activities $-Invested Share Capital $-Net - Surplus (Deficiency) - before Commissions $372,498,100 585,011,277 555,706,183 513,476,486 487,913,456 468,600,425 449,287,394 433,974,364 418,661,333 403,348,303 388,035,272 372,722,242 372,498,100Less: Funding CommissionsNet - Surplus (Deficiency) - after Commissions $372,498,100 585,011,277 555,706,183 513,476,486 487,913,456 468,600,425 449,287,394 433,974,364 418,661,333 403,348,303 388,035,272 372,722,242 372,498,100Cash at End of Month $372,498,100 $585,011,277 $555,706,183 $513,476,486 $487,913,456 $468,600,425 $449,287,394 $433,974,364 $418,661,333 $403,348,303 $388,035,272 $372,722,242 $372,498,100
  4. 4. CAL MARINE - One PlantBudget 2008 - 2013USE OF CASH 2010 2010 2010 2010 2010 2010 2010 2010 2010 2010 2010 2010 2010$US Annual Budget Jan Feb March April May June July Aug Sept Oct Nov DecMachines Produced per MonthTotal Machines Installed 0 0 0 0 0 0 0 0 0 0 0 0 0Cash at Beginning of Month $372,498,100 $372,498,100 $372,243,708 $371,989,317 $371,734,925 $371,480,533 $371,226,142 $370,971,750 $370,717,358 $370,462,967 $370,208,575 $369,954,183 $369,699,792Use of CashDevelopment Costs $-Site Costs, Foundations and Siting $-Ex Factory Cost ($6m per unit) $-Assembly Costs in Floating Dock $-Finishing Costs (Incl. Labour & Transport) $-Plant and Equipment (for Floating Dock & Main Factory) $- - - - - - - - - - - - -Land and Building - Factory ($5m + $53m) $- - - - - - - - - - - - -Tooling Moulds ($24m) $- - - - - - - - - - - - -Floating Docks x 3 ($150m) $- - - - - - - - - - - - -Engineering ($15.15m) $- - - - - - - - - - - - -Technology Transfer - To CAL + HTF Royalties $- - - - - - - - - - - - -Cost of Sales Water per m3 + Barges $-Cost of Sales Electricity $-Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover $-Tug Towage to Site Cost $-Undersea Cable & Pipework to Shore - Placement and Anchoring $-CAL Marine Tugs - Ex Factory Cost $-Tug Manufacturing Plant - Capital Cost $-Total Asset Purchases $- - - - - - - - - - - - -Cash Flow from Operating ActivitiesLoan Repayment at 6% interest $-Operating (Deficiency) / Surplus $(3,052,700) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392)Sale of Water - $US0.70 per m3 $- - - - - - - - - - - - -Sale of Electricity - $US50.00 per MWh (61,320MWh annually) $- - - - - - - - - - - - -Water Power Generation (113,880MWh annually) $- - - - - - - - - - - - -Add Back Tug Transport $- - - - - - - - - - - - -Add Back 2.5% to CAL Marine $- - - - - - - - - - - - -Total $(3,052,700) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392) (254,392)Net (Deficiency) / Surplus before Investing 369,445,400 372,243,708 371,989,317 371,734,925 371,480,533 371,226,142 370,971,750 370,717,358 370,462,967 370,208,575 369,954,183 369,699,792 369,445,400 $369,445,400 372,243,708 371,989,317 371,734,925 371,480,533 371,226,142 370,971,750 370,717,358 370,462,967 370,208,575 369,954,183 369,699,792 369,445,400Cash Flow from Financing Activities $-Invested Share Capital $-Net - Surplus (Deficiency) - before Commissions $369,445,400 372,243,708 371,989,317 371,734,925 371,480,533 371,226,142 370,971,750 370,717,358 370,462,967 370,208,575 369,954,183 369,699,792 369,445,400Less: Funding CommissionsNet - Surplus (Deficiency) - after Commissions $369,445,400 372,243,708 371,989,317 371,734,925 371,480,533 371,226,142 370,971,750 370,717,358 370,462,967 370,208,575 369,954,183 369,699,792 369,445,400Cash at End of Month $369,445,400 $372,243,708 $371,989,317 $371,734,925 $371,480,533 $371,226,142 $370,971,750 $370,717,358 $370,462,967 $370,208,575 $369,954,183 $369,699,792 $369,445,400
  5. 5. CAL MARINE - One PlantBudget 2008 - 2013USE OF CASH 2011 2011 2011 2011 2011 2011 2011 2011 2011 2011 2011 2011 2011$US Annual Budget Jan Feb March April May June July Aug Sept Oct Nov DecMachines Produced per Month 105 5 5 5 10 10 10 10 10 10 10 10 10Total Machines Installed 5 10 15 25 35 45 55 65 75 85 95 105Cash at Beginning of Month $369,445,400 $369,445,400 $307,385,079 $250,007,747 $197,313,406 $87,551,541 $(12,844,343) $(103,874,248) $(185,538,173) $(257,836,117) $(320,768,082) $(374,334,067) $(418,534,072)Use of CashDevelopment Costs $-Site Costs, Foundations and Siting $126,000,000 6,000,000 6,000,000 6,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000Ex Factory Cost ($6m per unit) $828,514,050 39,453,050 39,453,050 39,453,050 78,906,100 78,906,100 78,906,100 78,906,100 78,906,100 78,906,100 78,906,100 78,906,100 78,906,100Assembly Costs in Floating Dock $207,548,670 9,883,270 9,883,270 9,883,270 19,766,540 19,766,540 19,766,540 19,766,540 19,766,540 19,766,540 19,766,540 19,766,540 19,766,540Finishing Costs (Incl. Labour & Transport) $63,000,000 3,000,000 3,000,000 3,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000Plant and Equipment (for Floating Dock & Main Factory) $- - - - - - - - - - - - -Land and Building - Factory ($5m + $53m) $- - - - - - - - - - - - -Tooling Moulds ($24m) $- - - - - - - - - - - - -Floating Docks x 3 ($150m) $- - - - - - - - - - - - -Engineering ($15.15m) $- - - - - - - - - - - - -Technology Transfer - To CAL + HTF Royalties $49,710,843 2,367,183 2,367,183 2,367,183 4,734,366 4,734,366 4,734,366 4,734,366 4,734,366 4,734,366 4,734,366 4,734,366 4,734,366Cost of Sales Water per m3 + Barges $202,537,454 1,646,646 3,293,292 4,939,938 8,233,230 11,526,522 14,819,814 18,113,106 21,406,398 24,699,689 27,992,981 31,286,273 34,579,565Cost of Sales Electricity $77,153,481 627,264 1,254,528 1,881,792 3,136,320 4,390,848 5,645,377 6,899,905 8,154,433 9,408,961 10,663,489 11,918,017 13,172,545Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover $57,937,933 471,040 942,080 1,413,120 2,355,201 3,297,281 4,239,361 5,181,441 6,123,521 7,065,602 8,007,682 8,949,762 9,891,842Tug Towage to Site Cost $15,750,000 750,000 750,000 750,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000Undersea Cable & Pipework to Shore - Placement and Anchoring $105,000,000 5,000,000 5,000,000 5,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000CAL Marine Tugs - Ex Factory Cost $15,810,000 770,000 770,000 770,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000Tug Manufacturing Plant - Capital Cost $-Total Asset Purchases $1,748,962,430 69,968,453 72,713,403 75,458,353 148,131,757 153,621,657 159,111,557 164,601,458 170,091,358 175,581,258 181,071,158 186,561,059 192,050,959Cash Flow from Operating ActivitiesLoan Repayment at 6% interest $-Operating (Deficiency) / Surplus $(3,237,700) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808) (269,808)Sale of Water - $US0.70 per m3 $150,585,313 1,224,271 2,448,542 3,672,813 6,121,354 8,569,896 11,018,438 13,466,979 15,915,521 18,364,063 20,812,604 23,261,146 25,709,688Sale of Electricity - $US50.00 per MWh (61,320MWh annually) $448,950,000 3,650,000 7,300,000 10,950,000 18,250,000 25,550,000 32,850,000 40,150,000 47,450,000 54,750,000 62,050,000 69,350,000 76,650,000Water Power Generation (113,880MWh annually) $291,817,500 2,372,500 4,745,000 7,117,500 11,862,500 16,607,500 21,352,500 26,097,500 30,842,500 35,587,500 40,332,500 45,077,500 49,822,500Add Back Tug Transport $15,750,000 750,000 750,000 750,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000Add Back 2.5% to CAL Marine $22,283,820 181,169 362,339 543,508 905,846 1,268,185 1,630,523 1,992,862 2,355,201 2,717,539 3,079,878 3,442,216 3,804,555Total $926,148,933 7,908,132 15,336,072 22,764,012 38,369,892 53,225,772 68,081,653 82,937,533 97,793,413 112,649,293 127,505,173 142,361,054 157,216,934Net (Deficiency) / Surplus before Investing (453,368,097) 307,385,079 250,007,747 197,313,406 87,551,541 (12,844,343) (103,874,248) (185,538,173) (257,836,117) (320,768,082) (374,334,067) (418,534,072) (453,368,097) $(453,368,097) 307,385,079 250,007,747 197,313,406 87,551,541 (12,844,343) (103,874,248) (185,538,173) (257,836,117) (320,768,082) (374,334,067) (418,534,072) (453,368,097)Cash Flow from Financing Activities $-Invested Share Capital $-Net - Surplus (Deficiency) - before Commissions $(453,368,097) 307,385,079 250,007,747 197,313,406 87,551,541 (12,844,343) (103,874,248) (185,538,173) (257,836,117) (320,768,082) (374,334,067) (418,534,072) (453,368,097)Less: Funding CommissionsNet - Surplus (Deficiency) - after Commissions $(453,368,097) 307,385,079 250,007,747 197,313,406 87,551,541 (12,844,343) (103,874,248) (185,538,173) (257,836,117) (320,768,082) (374,334,067) (418,534,072) (453,368,097)Cash at End of Month $(453,368,097) $307,385,079 $250,007,747 $197,313,406 $87,551,541 $(12,844,343) $(103,874,248) $(185,538,173) $(257,836,117) $(320,768,082) $(374,334,067) $(418,534,072) $(453,368,097)
  6. 6. CAL MARINE - One PlantBudget 2008 - 2013USE OF CASH 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012$US Annual Budget Jan Feb March April May June July Aug Sept Oct Nov DecMachines Produced per Month 180 15 15 15 15 15 15 15 15 15 15 15 15Total Machines Installed 120 135 150 165 180 195 210 225 240 255 270 285Cash at Beginning of Month $(453,368,097) $(453,368,097) $(539,982,489) $(612,547,910) $(671,064,362) $(715,531,844) $(745,950,356) $(762,319,898) $(764,640,470) $(752,912,072) $(727,134,704) $(687,308,367) $(633,433,059)Use of CashDevelopment Costs $-Site Costs, Foundations and Siting $216,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000 18,000,000Ex Factory Cost ($6m per unit) $1,420,309,800 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150 118,359,150Assembly Costs in Floating Dock $355,797,720 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810 29,649,810Finishing Costs (Incl. Labour & Transport) $108,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000Plant and Equipment (for Floating Dock & Main Factory) $- - - - - - - - - - - - -Land and Building - Factory ($5m + $53m) $- - - - - - - - - - - - -Tooling Moulds ($24m) $- - - - - - - - - - - - -Floating Docks x 3 ($150m) $- - - - - - - - - - - - -Engineering ($15.15m) $- - - - - - - - - - - - -Technology Transfer - To CAL + HTF Royalties $85,218,588 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549 7,101,549Cost of Sales Water per m3 + Barges $800,269,939 39,519,503 44,459,441 49,399,379 54,339,317 59,279,255 64,219,193 69,159,131 74,099,068 79,039,006 83,978,944 88,918,882 93,858,820Cost of Sales Electricity $304,850,338 15,054,338 16,936,130 18,817,922 20,699,714 22,581,506 24,463,299 26,345,091 28,226,883 30,108,675 31,990,468 33,872,260 35,754,052Government fee 4% + 2.5% to CAL Marine = 6.5% of Turnover $228,925,491 11,304,963 12,718,083 14,131,203 15,544,323 16,957,444 18,370,564 19,783,684 21,196,805 22,609,925 24,023,045 25,436,166 26,849,286Tug Towage to Site Cost $27,000,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000Undersea Cable & Pipework to Shore - Placement and Anchoring $180,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000CAL Marine Tugs - Ex Factory Cost $18,000,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000Tug Manufacturing Plant - Capital Cost $-Total Asset Purchases $3,744,371,875 266,739,312 274,974,163 283,209,013 291,443,864 299,678,714 307,913,564 316,148,415 324,383,265 332,618,116 340,852,966 349,087,816 357,322,667Cash Flow from Operating ActivitiesLoan Repayment at 6% interest $-Operating (Deficiency) / Surplus $(4,747,700) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642) (395,642)Sale of Water - $US0.70 per m3 $594,995,625 29,382,500 33,055,313 36,728,125 40,400,938 44,073,750 47,746,563 51,419,375 55,092,188 58,765,000 62,437,813 66,110,625 69,783,438 -Sale of Electricity - $US50.00 per MWh (61,320MWh annually) $1,773,900,000 87,600,000 98,550,000 109,500,000 120,450,000 131,400,000 142,350,000 153,300,000 164,250,000 175,200,000 186,150,000 197,100,000 208,050,000 -Water Power Generation (113,880MWh annually) $1,153,035,000 56,940,000 64,057,500 71,175,000 78,292,500 85,410,000 92,527,500 99,645,000 106,762,500 113,880,000 120,997,500 128,115,000 135,232,500 -Add Back Tug Transport $27,000,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 2,250,000 -Add Back 2.5% to CAL Marine $88,048,266 4,348,063 4,891,570 5,435,078 5,978,586 6,522,094 7,065,602 7,609,109 8,152,617 8,696,125 9,239,633 9,783,141 10,326,648 -Total $3,632,231,191 180,124,921 202,408,741 224,692,561 246,976,382 269,260,202 291,544,022 313,827,843 336,111,663 358,395,483 380,679,304 402,963,124 425,246,944Net (Deficiency) / Surplus before Investing (565,508,782) (539,982,489) (612,547,910) (671,064,362) (715,531,844) (745,950,356) (762,319,898) (764,640,470) (752,912,072) (727,134,704) (687,308,367) (633,433,059) (565,508,782) $(565,508,782) (539,982,489) (612,547,910) (671,064,362) (715,531,844) (745,950,356) (762,319,898) (764,640,470) (752,912,072) (727,134,704) (687,308,367) (633,433,059) (565,508,782)Cash Flow from Financing Activities $-Invested Share Capital $-Net - Surplus (Deficiency) - before Commissions $(565,508,782) (539,982,489) (612,547,910) (671,064,362) (715,531,844) (745,950,356) (762,319,898) (764,640,470) (752,912,072) (727,134,704) (687,308,367) (633,433,059) (565,508,782)Less: Funding CommissionsNet - Surplus (Deficiency) - after Commissions $(565,508,782) (539,982,489) (612,547,910) (671,064,362) (715,531,844) (745,950,356) (762,319,898) (764,640,470) (752,912,072) (727,134,704) (687,308,367) (633,433,059) (565,508,782)Cash at End of Month $(565,508,782) $(539,982,489) $(612,547,910) $(671,064,362) $(715,531,844) $(745,950,356) $(762,319,898) $(764,640,470) $(752,912,072) $(727,134,704) $(687,308,367) $(633,433,059) $(565,508,782)
  7. 7. CAL MARINE - One PlantBudget 2008 - 2013Balance SheetCAPITAL BUDGET Totals 2008 2008$US Annual JanASSETSEquipmentDevelopment Costs $135,800,000 $-Plant and Equipment (for Floating Dock & Main Factory) $55,000,000 $30,000,000Land and Building - Factory ($5m + $53m) $58,000,000 $58,000,000Tooling Moulds ($24m) $24,000,000 $-Floating Docks x 3 ($150m) $150,000,000 $150,000,000Engineering ($15.15m) $15,150,000 $10,821,429Technology Transfer $15,000,000 $15,000,000 15,000,000Tug Manufacturing Plant - Capital Cost $100,000,000 $100,000,000Total Asset Purchases $552,950,000 $363,821,429 $15,000,000
  8. 8. 2008 2008 2008 2008 2008 2008 2008Feb March April May June July Aug 5,000,000 8,833,333 8,833,333 8,833,333 8,833,333 25,000,000 25,000,000 25,000,000 25,000,000 25,000,000 25,000,000 2,164,286 2,164,286 2,164,286 16,666,667 16,666,667 16,666,667 16,666,667 16,666,667 16,666,667 $- $48,830,952 $41,666,667 $52,664,286 $50,500,000 $52,664,286 $50,500,000
  9. 9. 2008 2008 2008 2008 2009Sept Oct Nov Dec Annual $135,800,000 7,500,000 7,500,000 7,500,000 7,500,000 $25,000,000 8,833,333 8,833,333 $- $24,000,000 $- 2,164,286 2,164,286 $4,328,571 $- $-$18,497,619 $16,333,333 $9,664,286 $7,500,000 $189,128,571
  10. 10. 2009 2009 2009 2009 2009 2009Jan Feb March April May June 15,088,889 15,088,889 15,088,889 15,088,889 6,250,000 6,250,000 6,250,000 6,250,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 2,164,286 2,164,286$12,414,286 $12,414,286 $25,338,889 $25,338,889 $19,088,889 $19,088,889
  11. 11. 2009 2009 2009 2009 2009 2009July Aug Sept Oct Nov Dec 15,088,889 15,088,889 15,088,889 15,088,889 15,088,889$15,088,889 $15,088,889 $15,088,889 $15,088,889 $15,088,889 $-
  12. 12. 2010 2010 2010 2010 2010Annual Jan Feb March April $- $- $- $- $- $- $- $- $- $- $- $-
  13. 13. 2010 2010 2010 2010 2010May June July Aug Sept $- $- $- $- $-
  14. 14. 2010 2010 2010 2011 2011 Oct Nov Dec Annual Jan $- $- $- $- $- $- $- $- $- $- $- $-
  15. 15. 2011 2011 2011 2011 2011Feb March April May June $- $- $- $- $-
  16. 16. 2011 2011 2011 2011 2011July Aug Sept Oct Nov $- $- $- $- $-
  17. 17. 2011 2012 2012 2012 2012Dec Annual Jan Feb March $- $- $- $- $- $- $- $- $- $- $- $-
  18. 18. 2012 2012 2012 2012 2012April May June July Aug $- $- $- $- $-
  19. 19. 2012 2012 2012 2012Sept Oct Nov Dec $- $- $- $-
  20. 20. 2013 2013 2013 2013 2013Annual Jan Feb March April $- $- $- $- $- $- $- $- $- $- $- $-
  21. 21. 2013 2013 2013 2013 2013May June July Aug Sept $- $- $- $- $-
  22. 22. 2013 2013 2013 Oct Nov Dec $- $- $-
  23. 23. EXECUTIVE OVERHEAD SUMMARY$US Pre-Production Production 2008 2009 2010 2011 2012 2013 2014 2015Personnel Costs:President 160,000 160,000 200,000 200,000 350,000 350,000 350,000 350,000VP Research & Dev 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Turbines 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Marine 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Financial 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Marketing 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Manufacturing 110,000 140,000 140,000 200,000 200,000 200,000 200,000VP Electrical 55,000 110,000 140,000 140,000 200,000 200,000 200,000 200,000Office Personal 30,000 60,000 70,000 80,000 100,000 100,000 100,000 100,000Executive Directors & Staff 200,000 400,000 450,000 600,000 700,000 700,000 700,000 700,000Director of Project Management 160,000 160,000 200,000 200,000 350,000 350,000 350,000 350,000Consulting:Consultants (incl $20m labour hireage allowance) 20,200,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000Total Personnel Costs 21,080,000 1,750,000 2,100,000 2,260,000 3,200,000 3,200,000 3,200,000 3,200,000Other Overheads:Office Rent 150,000 300,000 300,000 300,000 600,000 600,000 600,000 600,000Office Equip Rental 10,000 17,700 17,700 17,700 17,700 17,700 17,700 17,700Printing &Stationary 20,000 2,000 5,000 5,000 5,000 5,000 5,000 5,000Communications 10,000 10,000 20,000 20,000 30,000 30,000 30,000 30,000Vehicle Running 39,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000Vehicle Leases 43,200 60,000 60,000 60,000 60,000 60,000 60,000 60,000Legal 80,000 20,000 20,000 30,000 40,000 40,000 40,000 40,000Accounting/Audit 50,000 10,000 10,000 15,000 15,000 15,000 15,000 15,000Local Travel 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000Overseas Travel 200,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000Private Accommodation 110,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000Advertising/Web Site 20,000 20,000 20,000 30,000 80,000 80,000 80,000 80,000Total Other Overheads 782,200 939,700 952,700 977,700 1,547,700 1,547,700 1,547,700 1,547,700Total Operating Costs 21,862,200 2,689,700 3,052,700 3,237,700 4,747,700 4,747,700 4,747,700 4,747,700
  24. 24. Sheet Line No 14 15 16 17 24 25 40 37 38 39 26 29
  25. 25. Varaible Cost PER MACHINESite Costs, Foundations and SitingEx Factory Cost (HT Ferro Components of wind turbine)Assembly Costs (in Floating Dock)Finishing Costs IE Blades, and 3 Generators - Wind Generator, Solar Generation, Water Current generator Total Cost for Floating unitCost of Sales Water per m3 + Barges = $0.3692674/m34,197,500 m3 Annual Divided by Capital Cost per Machine = $15,000,000plus $500,000 cost of Barge = $15,500,000 x 6 % + 2 % = 4,197,500 = 0.0285884 x 8% plus 2% Maintenance =Cost of Electricity = $8,000,000 x 6 % + 2% = $0208741 KWh =Ex Factory Margin Over Cost per UnitEx Factory Margin Over Cost per UnitCost ex FactorySale of Water per Unit = $2.55 x 4,179,500 m3 = $10,661,650 Annual divided by 12 = 888,470.83 Per Month x $2.54 + $2,256,715.90m3Sale of Electricity Per unit:Ivory Coast = $70 per MWh x 2,555 MWh per MonthEurope = $90 per MWh x 2,555 MWh per MonthSolar and Water Generation - calculate it will take the Electricity up to 100% CAPACITY FACTOR = 4,745 MWh per month x either $90per MWh or $70 per MWhThis figure will reduce as turnover is not as high as first shown it will beCal Marine Tugs ex Factory - allow for 2 tugs per month at the start-up level (each tug can tow up to 3 wind turbines at a time)Unit TowageSite Costs per unitUnit assembly on floating dockFinishing costsUndersea Cable & Pipework to Shore - Placement and AnchoringTug Manufactured CostDesalination Plant Capital Cost per machine Water production (cubic meters per machine per annum) Cost of capital Maintenance cost Total cost Monthly costElectricity Generation Capital cost ROI & Maintenance Power generation capacity @ 20 MW per unit Capacity factor MWh per machine per annum Monthly cost Annual Cost Cost per MWhSale of Water per machine
  26. 26. Water production per annum (cubic metres) Selling price per cubic meter Revenue per annumElectricity sales Selling price per MWhElectricity selling price per machineElectricity production per month (MWh)Selling Price
  27. 27. Cost Figure $1,200,000 $4,311,768 $326,340 $5,500,000 x 6% Funds Borrowed so unit cost is $10,138,108 $0.3692674 $0.00357355 $0.2087410 per MWH $0 Power $13,000,000 Gereration Plants - Capital value $5,109,390 7,890,610 $178,850 $229,950 6.5% of Turnover per month $770,000 for 2 tugs $150,000 $1,200,000 $1,976,654 $600,000 $1,000,000 $385,000 $15,500,000 4,197,500 349,791.67 8% 2% $329,329.19 0.94 Wind Water Total $8,000,000 $5,000,000 $13,000,000 10% 10% 10% 175,200 175,200 175,200 35% 65% 100% 61,320 113,880 175,200 $77,201.73 $48,251.08 $125,452.81 $926,421 $579,013 $1,505,434 $15.11 $5.08 $8.59per annum per month
  28. 28. 4,197,500 $0.70$2,938,250 $244,854 $50.00Wind Water Total 5,110 9,490 14,600 $50.00 $50.00 $50.00 $255,500 $474,500 $730,000
  29. 29. Budget For CAL MARINE in reference to the CashFlow$USENGINEERING COSTS Completetion of Wind Tunnel testing 100,000 Wind Tunnel model including Instrumentation 50,000 Engineering of Floating C86-10MW HT Ferro Attaractor, Centre Body, Centre-Body Supports, Column and Ballest Keel, Including Sea-Bed Anchoring 1,500,000 Engineering of Flotation and Sea-Tow, stationing on pre-set Cooridinates; power cable connection, fixture and layout; yaw control 750,000 Design/Engineering of Column Structure 25m dia x 70m length Anchoring fixture for sea-bed Foundation Pile tops and fixing Yaw capability, guidence of column base to foundation tops and fixing. 750,000 Engineering of Floating Dock: 450m x 200m 800,000 Launching Technique, Craneage assembly on Floating Dock, Assembley Process 500,000 Engineering/Design Variable Speed 10MW AC Generator Control System and Switchgear 500,000 Engineering/Design 10MW Direct Current Generator, Control System, Switchgear, DC/AC shore System with switching 750,000 Design/Blueprint 80m x 20m Electrical Assembley Shed 650,000 Design/Blueprint 80m x 20m Mechanical assembley shed 650,000 Design/Blueprint Steel reinforcing assembley shed 650,000 Design/Engineer Blade and Hub assembly; Drive train Brake, Hydraulics, assembly and fitting out centre-body and rotors 1,500,000 Design/Engineer Towing System; Tug Sizing, Launching from Floating Dock, Site Installation, Multiple unit connection and Precision placement 1,000,000 Design, build test, co-generator 5,000,000 Sub Total 15,150,000CAPITAL COSTS Floating Docks x 3 off (Tender Allowance) 150,000,000 Tug Plant alonside main Plant, Budget reqd for Design Technology Transfer, Engineering and Moulds, Tug Length 77.7m beam 77m draught 7.1m with two 10,000 KW Supercharged Diesels 100,000,000 Purchase Waterfront Land - allow 100 Hectares x $50,000 per Hectare 5,000,000 Production Plant 200m x 530m at $500/m2 53,000,000 Exclusive Licence for HTFerro Plants 15,000,000 Plant and Equipment (Main Plant) 25,000,000 Plant and Equipment (Floating Dock) 30,000,000 Main Structure Moulds: Attractor 13,500,000 Column 25m dia x 70m 3,500,000
  30. 30. Bell Flotation Unit 2,500,000 Keel Ballast Support Legs 3,000,000 Keel Ballast 1,500,000 24,000,000 Sub Total 402,000,000DEVELOPMENT COSTS Wharf and Floating Dock Tethering 1000m 100,000,000 Dredge Foreshore to accomodateF/Docks and Towage path 900,000 cubic metres x $70/m3 6,300,000 Desalination Barge: 35m x 7m capable of transporting & housing 42 x 20ft desalination container modules 3 high - design moulds, plant, and motive power 20,000,000 Brokerage Fees - allow 1% total budget 9,500,000 Sub Total 135,800,000TOTAL 552,950,000Plus Contingency Allowance of 10% (not included in cashflow) but allowed for inFunding Application. 55,295,000

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