50% CONFIDENCE LEVEL
 CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD  CONSORTIUM gTLD
 Summary P&L  Summary P&L  Summary P&L  Summary P&L  Summary P&L  Summary P&L
 Year 1  Year 2  Year 3  Year 4  Year 5
1 2 3 4 5 6 7 8 9 10 11 12 Year 1 1 2 3 4 5 6 7 8 9 10 11 12 Year 2 1 2 3 4 5 6 7 8 9 10 11 12 Year 3 1 2 3 4 5 6 7 8 9 10 11 12 Year 4 1 2 3 4 5 6 7 8 9 10 11 12 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Total
<---------SUNRISE PERIOD---------->
New Registrations                   -                      -                      -                      -                      -                      -              400,000            300,000  QUIET            900,000            600,000            375,000         2,575,000            300,000            313,500            327,608            342,350            357,756            373,855            379,463            385,155            390,932            396,796            402,748            408,789          4,378,952            414,921            421,145            427,462            433,874            440,382            446,988            449,223            451,469            453,726            455,995            458,275            460,566          5,314,026            462,869            465,183            467,509            469,847            472,196            474,557            476,930            479,315            481,712            484,121            486,542            488,975         5,709,756              491,420            493,877            496,346              498,828              501,322              503,829              506,348              508,880              511,424              513,981              516,551              519,134           6,061,940         2,575,000          4,378,952          5,314,026         5,709,756           6,061,940        24,039,674
Revenue  $               -    $                -    $                -    $                -    $                 -    $                 -    $        195,500  $        342,125  $        342,125  $        782,000  $     1,075,250  $     1,258,531  $     3,995,531  $     1,401,323  $     1,551,671  $     1,711,789  $     1,870,488  $     2,039,591  $     2,218,719  $     2,401,307  $     2,586,547  $     2,774,475  $     2,965,128  $     3,158,543  $     3,354,756  $     28,034,338  $     3,553,912  $     3,756,056  $     3,961,231  $     4,169,484  $     4,380,861  $     4,595,409  $     4,810,991  $     5,027,610  $     5,245,272  $     5,463,982  $     6,114,993  $     6,192,061  $     57,271,864  $     6,306,171  $     6,493,265  $     6,723,881  $     6,955,909  $     7,189,367  $     7,424,275  $     7,660,652  $     7,893,147  $     8,126,831  $     8,361,710  $     8,597,792  $     8,835,083  $    90,568,082  $       9,073,589  $     9,313,316  $     9,554,271  $       9,796,460  $       9,910,516  $      10,068,945  $      10,260,972  $      10,462,900  $      10,664,113  $      10,864,528  $      11,064,063  $      11,262,626  $    122,296,299  $     3,995,531  $     28,034,338  $     57,271,864  $    90,568,082  $    122,296,299  $   302,166,114
Operating Expenses:
Registry Operator                   -                      -                      -                      -                      -                      -              100,300            175,525            175,525            401,200            551,650            645,681         2,049,881            718,940            796,075            878,222            959,642         1,046,399         1,138,299         1,330,308         1,499,094         1,595,510         1,693,323         1,792,553         1,893,219         15,341,584         1,817,603         1,738,641         1,656,182         1,570,070         1,480,141         1,386,225         1,096,274            854,090            757,986            439,190            192,681                    -           12,989,084                    -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                      -                        -                      -                      -                        -                        -                        -                        -                        -                        -                        -                        -                        -                        -           2,049,881         15,341,584         12,989,084                    -                        -          30,380,550
Systems Development & Support            18,229             37,500             43,229             43,229              43,229              43,229              43,229              43,229              43,229              43,229              43,229            121,042            565,833              45,391              45,391              45,391              45,391              45,391              45,391              45,391              73,222              73,222            216,908            629,527            707,339          2,017,951            640,546            640,546            640,546            640,546            640,546            640,546            640,546            640,546            664,546            664,546            664,546            742,359          7,860,366            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            804,835            882,648         9,735,833              945,739            948,139            948,139              948,139              948,139              948,139              948,139              948,139              948,139              948,139              948,139           1,025,951         11,453,078            565,833          2,017,951          7,860,366         9,735,833         11,453,078        31,633,061
Customer Service                   -                      -                 3,646             26,042              42,396              42,396              42,396              42,396              48,542              48,542              48,542            114,917            459,813              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422              57,422            123,797             755,438              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293              60,293            126,668             789,891              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308              63,308            129,683            826,066                66,473              66,473              66,473                66,473                66,473                66,473                66,473                66,473                66,473                66,473                66,473              132,848              864,051            459,813             755,438             789,891            826,066              864,051          3,695,258
Sales & Marketing          300,000           319,271           332,813           432,813            632,813            732,813         1,482,813         1,482,813         2,490,625         4,990,625         4,890,625         4,848,750       22,936,771         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,692,167         1,750,292         20,364,134         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,462,550         1,520,675         17,608,727         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,309,701         1,367,826       15,774,543           1,244,515         1,244,515         1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,244,515           1,302,640         14,992,306       22,936,771         20,364,134         17,608,727       15,774,543         14,992,306        91,676,480
General & Administrative          224,373           254,524           270,495           320,583            342,150            243,350            291,350            279,350            245,969            353,969            317,969            411,282         3,555,366            295,880            297,565            306,222            319,455            321,378            327,792            328,492            329,202            329,923            330,655            357,828            478,894          4,023,284            372,809            373,617            374,437            375,269            376,114            376,971            377,261            377,553            377,846            378,140            378,436            499,046          4,637,498            402,356            402,668            402,982            403,298            403,615            403,933            404,254            404,576            404,899            405,224            405,551            526,192         4,969,549              428,858            429,203            429,550              429,898              430,248              430,600              430,954              431,309              431,666              432,025              432,386              553,061           5,289,760         3,555,366          4,023,284          4,637,498         4,969,549           5,289,760        22,475,457
R&D                   -                      -                      -                      -                      -                      -                 1,955               3,421               3,421               7,820              10,753              12,585              39,955              39,955              14,013              15,517              28,055              29,642              70,708              72,500              74,326              76,178              78,057              79,964              81,898             660,814              86,376            333,172              88,367              90,389              92,440              94,523              96,637              98,782            100,938            103,104            105,281            107,468          1,397,477            116,619            117,390            628,188            118,531            120,402            122,708            125,029            127,363            129,712            132,076            134,401            136,738         2,009,159              141,860            144,221            146,594              963,924              148,979              151,376              153,786              156,208              157,348              158,932              160,853              162,872           2,646,952              39,955             660,814          1,397,477         2,009,159           2,646,952          6,754,356
Operating Expenses          542,602           611,294           650,182           822,666         1,060,588         1,061,788         1,962,043         2,026,734         3,007,311         5,845,385         5,862,768         6,154,257       29,607,619         2,849,755         2,902,633         2,994,941         3,102,132         3,192,399         3,331,779         3,526,279         3,725,433         3,824,422         4,068,532         4,609,461         5,035,439         43,163,205         4,440,177         4,608,818         4,282,375         4,199,117         4,112,085         4,021,109         3,733,561         3,493,814         3,424,159         3,107,824         2,863,788         2,996,216         45,283,043         2,696,819         2,697,902         3,209,014         2,699,673         2,701,861         2,704,486         2,707,127         2,709,783         2,712,456         2,715,145         2,717,796         3,043,087       33,315,150           2,827,445         2,832,551         2,835,270           3,652,949           2,838,354           2,841,103           2,843,866           2,846,644           2,848,141           2,850,085           2,852,366           3,177,373         35,246,147       29,607,619         43,163,205         45,283,043       33,315,150         35,246,147       186,615,163
                                                                                                                                             
EBITDA         (542,602)          (611,294)          (650,182)          (822,666)        (1,060,588)        (1,061,788)        (1,766,543)        (1,684,609)        (2,665,186)        (5,063,385)        (4,787,518)        (4,895,725)      (25,612,087)        (1,448,432)        (1,350,962)        (1,283,152)        (1,231,644)        (1,152,808)        (1,113,060)        (1,124,973)        (1,138,886)        (1,049,946)        (1,103,404)        (1,450,918)        (1,680,683)        (15,128,867)           (886,265)           (852,763)