EFTA01116005.pdf

IAC2 MODEL MANAGEMENT GROUP 1112011 NEW YORK MIAMI ELIMINATIONS CONSOLIDATED 12312010 Ditlerence COMM MM ASSETS CURRENT ASSETS CASH 14.883.66 346,324.55 361.208.43 330.02683 31.181.60 ACCOUNTS RECEIVABLE - NO RESERVE 686.304.91 608.055.06 1.694.359.97 1.4430.207.35 290.152.62 Increase nosily in NY (lAccam EtICkS011. Revlon) OTHER RECEIVABLES 61.275.61 10.612.18 71.887.79 77.998.89 (6.111.10) includes 157k due from WAG Ircen 2006 PREPAID EXPENSES 3.05000 10.85723 13.907.23 13.907.23 DUE FROM MODELS 95.868.87 8.635.93 104.504.80 98.675.76 5.829.04 Advances a models paid evough payroll DUE FROM GROUP COMPANIES 235.703.61 (235.703.81) Interco between Matroi and NY TOTAL CURRENT ASSETS 1.061.383.27 1820.188.76 (235.703.81) 224528822 1.90090823 PROPERTY AND EQUIPMENT • NET 7&143.23 57.280.17 135.40340 128.64929 6.754.11 Familure In MOM. Congas( In NY OTHER ASSETS SECURITY DEPOSITS 9.371.09 12.190 00 21.56000 21.56900 OTHER ASSETS TOTAL OTHER ASSETS 9.371.09 12.190 03 21,569.00 21.569.00 TOTAL ASSETS 1.148.897.50 1.489.646.93 (235.703.811 2.402.840.62 2.057.127.12 345.713.50 LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES ACCOUNTS PAYABLE 8 ACCRUED EXPENSES 341,873.77 154281.26 496.155.03 351.467-37 144587.66 MODELS PAYABLE 819,951.88 457,912.94 1.277.864.82 1220.197.35 57,687.47 DUE TO GROUP COMPANIES 225,632.30 389.128.66 (235.703.81) 379.057.15 389.111.91 (10.054.76) in Miami Includes payables to Next T4116 and Karin NY MELLON NOTE 476.79550 307,802.74 784.598.24 784.59824 MODELS WITHHOLDING PAYABLE 977,024.57 589.947.71 1.566.972.28 1.584.563.88 (17.591.60) MOTHER AGENCY PAYABLE 170.070.72 10.727.61 180.798.33 168.637.38 12.160.95 TOTAL CURRENT LIABILITIES 3.011.348.74 1.909.800.92 (235.703.81) 4.685.445.85 4.498.576.13 MEMBERS EQUITY (DEFICIT) NUMBERS DRAW RETAINED (DEFICIT) EARNINGS (1.862.451.24) (420.153.99) (2.282.605.23) (2••441.449.01) 158,843.78 TOTAL MEMBERS EQUITY (DEFICIT) (1,862451.24) (420,153.99) (2,282,605.23) (2.441.449.01) TOTAL LIABILITIES AHD STOCKHOLDERS (DEFICIT) EQUITY 1,148,897.50 1,489,646.93 (235,703.81) 2,402,840.62 2.057.127.12 345,713.50 Internal Reporling EFTA01116005 1/31/2011 1 MONTH ENDING 01/31/2011 NEW YORK MIAMI CONSOLIDATED MODEL EARNINGS GROSS BILLINGS $ 426,785.88 $ 495,461.80 $ 922,247.68 MODEL EARNINGS $ (292,297.80) $ (350,133.75) $ (642,431.55) MOTHER AGENCY FEES $ (8,717.28) $ (12,621.28) $ (21,338.56) NET MODEL EARNINGS $ 125,770.80 $ 132.706.77 $ 258,477.57 GROSS MARGIN 29.47% 26.78% 28.03% OPERATING EXPENSES $ 65.164.94 $ 91,170.72 $ 156,335.66 OTHER INCOME (EXPENSES) MOTHER AGENCY INCOME PRODUCTION INCOME 20,982.32 $ 20,982.32 INTEREST EXPENSE $ (1,317.47) $ (878.32) $ (2,195.79) MISCELLANEOUS INCOME TAX EXPENSE TOTAL OTHER EXPENSES $ (1,317.47) $ 20,104.00 18,786.53 NET INCOME (LOSS) $ 59,288.39 $ 61,640.05 120,928.44 PER TRIAL BALANCE $ 59,288.39 $ 61,640.05 $ 120,928.44 DIFFERENCE 0.00 $ (0.00) Internal Reporting EFTA01116006  MC2 MODEL MANAGEMENT GROUP 1/31/2011 1 MONTHS ENDING 01/31/2011 NEW YORK MIAMI CONSOLIDATED SALARIES 22,694.00 33,703.40 56,397.40 PAYROLL TAXES 3,268.21 4,558.58 7,826.79 EMPLOYEE BENEFITS (131.50) (789.00) (920.50) RENT 5,450.00 8,457.23 13,907.23 UTILITIES 1,534.83 1,534.83 OFFICE CLEANING, R& M 863.47 500.00 1,363.47 MODEL EXPENSES 1,996.05 4,732.12 6,728.17 EQUIPMENT 1,251.51 1,251.51 DUES & SUBCRIPTIONS DONATIONS ADVERTISING & PROMO TELEPHONE 3,361.59 1,436.39 4,797.98 PROFESSIONAL FEES 4,606.25 4,606.25 EQUIPMENT LEASES 685.51 685.51 TRAVEL AND ENTERTAINMENT 11,141.20 16.291.40 27.432.60 SCOUTING EXPENSES 9,072.71 4.825.06 13,897.77 INTERNET & MISC COMPUTER EXPENSES 844.94 844.94 OFFICE SUPPLIES AND EXPENSE 2,937.41 2,079.26 5.016.67 POSTAGE & DELIVERY 320.10 320.10 INSURANCE 318.71 4,242.15 4.560.86 STATIONARY & PRINTING 386.85 386.31 773.16 STORAGE 594.92 594.92 MOVING EXPENSES CORPORATE CAR & APARTMENT 52.81 29.52 82.33 OUTSIDE SERVICES 2,080.00 1,450.00 3.530.00 BANK, MERCHANT AND PAYROLL FEES 138.60 965.07 1,103.67 DEPRECIATION MISCELLANEOUS 65,164.94 91,170.72 156,335.66 Internal Reporting EFTA01116007