| Current Financial Statement for: Revolve Partners LLC Date of incorporation: 04/27/2017 Current number of employees: 3 | |||
| Fiscal Year: | Prior Fiscal Year end: 2015 |
Most recent Fiscal Year end: 2016 |
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|---|---|---|---|
| Balance Sheet Highlights | |||
| Total Assets: | |||
| Cash and Cash Equivalents: | |||
| Accounts Receivable: | |||
| Short-term Debt: | |||
| Long Term Debt*: | |||
| Income Statement Highlights | |||
| Revenue/Sales**: | |||
| Cost of Goods or Services Sold: | |||
| Taxes Paid: | |||
| Net Income: | |||
| Prior Year Notes:
Not Operational in this year |
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| Recent Year Notes:
Not Operational in this year |
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| *Debt Statement (for all long term debts describe the terms, and debt holder):
No Debt in these years |
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| **Describe Revenue/Sales (Services or product revenue, #of customers, average sale):
Not Operational in these years |
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| Fiscal Year and for # of Employees | |||
| Fiscal Year: | 2018 | 2019 | 2020 |
|---|---|---|---|
| Expected # of Employees: | 3 | 3 | 3 |
| Balance Sheet Highlights | |||
| Total Assets: | $3,968,020 | $2,184,768 | $1,206,613 |
| Cash and Cash Equivalents: | $1,284,700 | $1,589,768 | $631,613 |
| Accounts Receivable: | |||
| Short-term Debt: | $1,960,000 | $395,072 | |
| Long Term Debt: * | $1,541,254 | $603,500 | |
| Income Statement Highlights: | |||
| Revenue/Sales: ** | $4,950,000 | $3,308,000 | $6,608,000 |
| Cost of Goods or Services Sold: | $4,223,700 | $2,815,800 | $5,631,600 |
| Taxes Paid: | |||
| Net Income: | $703,270 | $452,145 | $934,812 |
| Cash Flow Highlights | |||
| Beginning Cash: | $1,284,700 | $1,589,768 | |
| Ending Cash: | $1,284,700 | $1,589,768 | $631,613 |
| Basis: | accrual | accrual | accrual |
| Notes for Year 1 | This year is from August 2017 - July 2018 Business was established in 2017. Assumes capital raise of $1M and the acquisition and sale. Investors receive interest and profit sharing |
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| Notes for Year 2 | This year is from August 2018 - July 2019 Company continues to acquire and sell real-estate converted to condos or buy and hold for cash flow. Investors receive interest and profit sharing |
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| Notes for Year 3 | This year is from August 2019 - July 2020 Company continues to acquire and sell real-estate converted to condos or buy and hold for cash flow. Investors receive interest and profit sharing |
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| Debt Statement (for all long term debts, describe the terms, and debt holder): *
The Company purchases real estate using investment proceeds as a down payment and bank mortgages. The debt on the balance sheet represents the debt to investors and real estate mortgages.For condominium projects, long term debts are held by private lenders who typically charge a fixed interest fee based on total loan value (9 - 11%), 2 points at loan origination, and an exit fee (approx. 0.5%). For buy and hold projects, long term debts are in the form of a mortgage and held by financial institutions such as banks or credit unions. Typical mortagages are subject to commercial lending terms and structured as 15-year ARMs with a 30-year amortization. Rates are benchmarked against the current prime rate. |
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| Describe Revenue/Sales (Services or product revenue, #of customers, average sale): **
Revenue is the gross income from condominium sales and net rental income. The financial projections are based on a combination of four (4) condominium projects and one (1) buy-and-hold project executed over the 36-month term. Revenue is derived from the sale of real estate which was purchased, converted to condos and sold, property purchased and rented for income or other projects such as renovations. |
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| Project Audit | Status |
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| Proof of Identification: | |
| Representative of your Financial Reports: | |
| Corporation or LLC Certificate: | |
| Tax Form IRS W9: | |
| Copies of 2 years of tax returns: | |
| Financial Statements: | |
| Business Plan: | |