Project SeaStar 6.5ha - BaliProfit & Loss (Quarter) 2010 2011 2012

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Total

N° of Units Sold 0 3 11 14 14 17 19 37 38 13 0 0 165Sales Completion Rate 0% 2% 8% 16% 25% 35% 47% 70% 92% 100% 100% 100% 100%

Gross Revenue from Unit Sales 0 6,900 26,450 34,500 34,500 43,792 48,438 93,150 94,530 31,740 0 0 414,000

Developer's Fees from Unit Sales 0 828 3,174 4,140 4,140 5,255 5,813 11,178 11,344 3,809 0 0 49,680

Net Revenue from Operations 0 6,072 23,276 30,360 30,360 38,537 42,625 81,972 83,186 27,931 0 0 364,320

Cost of Construction 0 5,125 25,627 25,627 25,627 56,563 56,563 40,211 20,929 0 0 0 256,274Construction Completion Rate 0% 2% 12% 22% 32% 54% 76% 92% 100% 100% 100% 100% 100%

Marketing + Advertizing 798 498 348 498 498 498 348 498 498 116 0 0 4,598Travel & Entertainment 135 135 135 135 135 135 135 135 135 45 0 0 1,260Cost of Promotion 933 633 483 633 633 633 483 633 633 161 0 0 5,858

Developer's Fees 0 513 2,563 2,563 2,563 5,656 5,656 4,021 2,093 0 0 0 25,627

Project Expenditure 933 1,146 3,046 3,196 3,196 6,289 6,139 4,654 2,726 161 0 0 31,485

Project Contribution -933 -199 -5,397 1,537 1,537 -24,316 -20,077 37,107 59,531 27,770 0 0 76,561

Prooject Financing Received 50,000 0 0 0 0 0 0 0 0 0 0 0 50,000Prooject Financing Repaid 0 0 0 0 0 0 0 0 0 50,000 0 0 50,000Project Financing 50,000 0 0 0 0 0 0 0 0 -50,000 0 0 0

Bank Interest 0 7 9 10 10 4 0 145 354 149 0 0 688Financial Income 0 7 9 10 10 4 0 145 354 149 0 0 688

Project Financing Interest 0 0 0 0 0 0 0 0 0 0 0 0 0Financier's Profit Share 0 0 0 0 0 0 0 0 0 0 0 0 0Bank Interest Charged 0 0 0 0 0 0 0 0 0 0 0 0 0Financial Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0

EBITDA -933 -192 -5,388 1,547 1,547 -24,312 -20,077 37,252 59,886 27,919 0 0 77,249

Corporation Tax 0 0 0 0 0 0 0 0 0 0 0 23,313 23,313PROFIT AFTER TAX -933 -192 -5,388 1,547 1,547 -24,312 -20,077 37,252 59,886 27,919 0 -23,313 53,936