EFTA01090671.pdf

CORE: 2008 Income Statement • Modified Cash Basis (1) (000's) PY-2008 YTD Net Change in Members 51 Revenue Membership - New 2.654 Membership Renewals 5.681 F&B Restaurant 1.700 F&B Events 1.612 Accomodations 481 Wellness Revenue 823 Sponsorships & Other Revenue 888 Gross Revenue 13,838 Founding Member Cr & Dscnts (618) Other Discounts & Allowances (204) Less Discounts & Allowances (822) Net Revenue 13,016 Membership Direct Expenses 1,285 F&B Direct Costs 3.891 Accomodations Direct Expenses 437 Wellness Direct Expenses 1,100 Sponsorships & Other Revenue 390 Direct Expenses 7.104 Membership 7.050 Food & Beverage (580) Accomodations 44 Wellness (277) Sponsorships & Other Revenue 498 Discounts & Allowances (822) Gross Profit 5,912 % of Revenue 45.4% EFTA01090671 General & Admin Expenses (excl DeprlAmort) Payroll. Taxes & Benefits - Gross 7.055 Less Charged to Direct Expenses (5.315) GM Wages. Taxes & Benefits 1.740 Bonuses (for all elig emplyees) Contract Labor 154 GM Wages. Taxes & Benefits 1.894 Occupancy Costs 2.493 Professional Fees 272 Other GM Costs 715 Total GM Costs 5.374 Sales & Marketing 1.421 Total SG&A 6.794 Operating Profit / (Loss) (883) % of Revenue -6.8% Debt Forgiveness Restruduring Costs (One-Time Charge) Other Inoomer(Expense) (1) Depreciation/Amortization (2,064) Property & Equipment (2,064) Start up costs, net Trademark, net of accumulated amortization Loan acquisition costs, net of accumulated amortization Other Interest Inoome./(Expense) (2) 3.577 Net Profit I (Loss) (6.525) % of Revenue -50.1% EFTA01090672