Base case financial model
Back to the proposal · Download editable Excel
Read-only view of all workbook sheets. Formulas and editable assumptions are available in Excel.
Base Balance
| Oristella base development balance (USD) | ||
| Base case: $460,000 founder resources and $460,000 investor cash. | ||
| Balance date | 31 Dec 2027 | 31 Dec 2028 |
| Assets in the management forecast | ||
| Equipment acquired under the deployment budget | 72,000 | 54,000 |
| Purchased software rights | 55,200 | 41,400 |
| Software developed during the forecast | 245,916 | 419,175 |
| Founder resources (memo value $460,000; excluded from totals) | 0 | 0 |
| Total non-current assets | 373,116 | 514,575 |
| Cash and cash equivalents | 514,233 | 1,792,023 |
| Total assets | 887,349 | 2,306,598 |
| Funding obligations and project capital | ||
| Investor financing pending agreed instrument | 460,000 | 460,000 |
| Income tax payable | 29,272 | 121,177 |
| Total obligations and provisional financing | 489,272 | 581,177 |
| Founder resources recognised in this forecast | 0 | 0 |
| Accumulated retained results | 398,078 | 1,725,421 |
| Accumulated capital and retained results | 398,078 | 1,725,421 |
| Total financing, liabilities and accumulated results | 887,349 | 2,306,598 |
| Balance difference (must be zero) | 0 | (0) |
| Performance for the reporting period | ||
| Customer sales and cash receipts | 997,200 | 2,043,061 |
| Profit after tax | 398,078 | 1,327,343 |
| Free cash flow before financing | 54,233 | 1,277,790 |
| Minimum monthly cash in period | 51,300 | 599,640 |
| Requested investor cash funding | 460,000 | 460,000 |
| Additional financing requested | 0 | 0 |
| Distributions | 0 | 0 |
| Net cash from operating activities | 464,738 | 1,501,350 |
| Basis of the management presentation | ||
| FY1: November 2026-December 2027 (14 months). FY2: January-December 2028. Receipts are assumed in the month of sale. | ||
| Founder-provided resources have a management memo value of about $460,000. This forecast assumes no cash purchase or transfer of title and excludes that memo value from assets and equity. | ||
| Statutory recognition depends on the executed agreements. Software capitalisation and amortisation follow the stated planning assumptions, with eligibility and available-for-use dates supported by project records. | ||
| Additional equipment and software purchases remain $159,000 and must be reconciled against the supplied inventory. Prepared people and internal orders are not separately capitalised. | ||
| The $50,000 cash buffer is a reference, not a binding minimum. No additional funding or reserve replenishment is requested. Timing of subscriptions and customer receipts follows the stated schedule. |
Revenue basis
| Oristella revenue basis (USD) | |
| Planned client schedule | |
| January 2027: two related-company clients (Farafina Resources SA, Lions Head Resources SA); forecast receipts on standard terms. | |
| April 2027: two external clients targeted after on-site equipment testing. | |
| May-December 2027: target one new client a month, reaching twelve clients at December 2027. | |
| November-December 2027: revenue held at the October 2027 level; 2028: +10% at the start of each quarter, constant within the quarter | |
| Revenue by stream, first twelve months (November 2026 - October 2027) | USD |
| Initial geological models and trials | 180,000 |
| Geological model updates | 261,000 |
| Financial management packages | 78,000 |
| Mapping services | 52,400 |
| Operational packages | 72,000 |
| Project services (feasibility study packages, surveys) | 87,000 |
| Total | 730,400 |
| Monthly model, months 1-12 | 730,400 |
| Check (must be zero) | 0 |
| Module tariffs: trial geological model $1,000; full model $5,000; standard update $300. Each contract defines scope and module composition. | |
| Source: management service-stream and monthly receipts forecast. The stream total reconciles to monthly receipts; the client schedule is a commercial target, not a quantity-times-tariff calculation. |
Base Cash Flow
| Oristella base cash flow (USD) | ||
| Base case receipts and costs; $460,000 investor financing. | ||
| Cash flow for the period | Nov 2026-Dec 2027 | Jan-Dec 2028 |
| Opening cash | 0 | 514,233 |
| Customer cash receipts | 997,200 | 2,043,061 |
| Cash operating expenditure | (783,967) | (736,000) |
| Development costs classified as investment | 251,505 | 223,560 |
| Income tax paid | 0 | (29,272) |
| Net cash from operating activities | 464,738 | 1,501,350 |
| Equipment purchases | (90,000) | 0 |
| Purchased software rights | (69,000) | 0 |
| Capitalised development expenditure | (251,505) | (223,560) |
| Net cash used in investing activities | (410,505) | (223,560) |
| Investor financing received | 460,000 | 0 |
| Founder cash contribution | 0 | 0 |
| Financing repayments and distributions | 0 | 0 |
| Net cash from financing activities | 460,000 | 0 |
| Net change in cash | 514,233 | 1,277,790 |
| Closing cash | 514,233 | 1,792,023 |
| Cash difference against balance (must be zero) | 0 | (0) |
| Free cash flow before financing | 54,233 | 1,277,790 |
| Minimum monthly closing cash | 51,300 | 599,640 |
| Additional financing requested | 0 | 0 |
| Cash is retained. The founder contribution of $460,000 is non-cash and is excluded from receipts. | ||
| Tax, development capitalisation and payment timing follow the operating model. Profit is separate from cash flow. | ||
| The first reporting period contains 14 months; the second contains 12 months. No new franchise or token revenue is assumed. |
Inputs
| Oristella development project assumptions | ||
| Assumption | Value | Source |
| Revenue growth at the start of each quarter in 2028 | 10.0% | Managementinstructionassumption: monthly revenue is constant within each quarter. January 2028 is 10% above December 2027; the first month of each subsequent quarter rises a further 10%. Operating expenses remain unchanged. |
| Revenue growth November-December 2027 | 0 | Held at the exit rate of months 10-12 |
| Operating expenses from November 2027 | 61,333 | Held constant at the average of months 10-12 (managementinstructionassumption: costs stayheld flat) |
| Exit revenue base: month 12 (October 2027) | 133,400 | Revenue held at the October 2027 level in November-December 2027, so no month falls below the previous one |
| Corporate tax rate, United Arab Emirates (Dubai) | 9.0% | Planning rate: 9% on taxable income above AED 375,000; no 0% free-zone rate assumed. Source: UAE Ministry of Finance corporate tax threshold announcement, 31 January 2023. |
| Annual depreciation and amortisation rate (straight line, 5 years) | 20.0% | Management assumption: 20 % a year from 2027, charged once at year end (31 December); non-cash |
| Approved cash distributions (USD) | 0 | No repayment or distribution is assumed. Cash remains available for operations and development. |
| Share of development team costs capitalised as software development | 45.0% | Management capitalisation assumption: 45% of development-team costs allocated to qualifying software development, at quarter end. The model amortises from the following year. Eligibility and the available-for-use date require project cost records; the percentage alone does not establish IAS 38 compliance. |
| Taxable income taxed at 0 % (AED 375,000 at 3.6725 per US dollar) | 102,110 | Cabinet Decision on the taxable income threshold |
| MODEL VARIANT (enter 1 or 2) | 2 | 1 = development expensed in FY1; 2 = development capitalised from the start (selected). Capitalisation and tax eligibility are assessed separately. |
| Share capitalised in financial year 1 (November 2026 - December 2027) | 45.0% | Variant 1: 0 %; variant 2: same as 2028 |
| Founder cash contribution | 0 | No founder cash contribution. Existing resources are available without cash purchase in this forecast. |
| Base customer receipt factor | 1 | Base sales collected in the month. Stress receipts and sales are reduced together, with no additional receivable. |
| Reference liquidity buffer | 50,000 | Reference only. No additional funding or reserve replenishment is requested. |
| Investor terms | To be agreed | Financing shown separately pending fund agreement. No fixed ownership, maturity, repayment or distributions. |
| Founder resources made available (memo value) | 460,000 | Existing land, buildings, infrastructure, equipment, software and prior work, made available without a cash purchase in this forecast. Management memo value: about $460,000. No transfer of title or accounting recognition is assumed. |
| Stress reduction in revenue and customer receipts | 20.0% | Management stress assumption: revenue and matching customer receipts are reduced by 20% in every forecast month. |
| Stress uplift in cash operating expenditure | 10.0% | All monthly cash operating costs increase by 10%. Extra costs are expensed; capitalised development and fixed asset purchases are unchanged. |
| First subscription - November 2026 | 300,000 | Management funding schedule. |
| Second subscription - January 2027 | 110,000 | Management funding schedule. |
| Third subscription - April 2027 | 50,000 | Rounded funding request of $460,000; final tranche increased to $50,000. |
| Total requested cash financing | 460,000 | Same amount in both cases. No additional financing. |
| Founder resources in this management forecast | Memo only | The forecast records no acquired founder asset or related depreciation. Statutory recognition depends on the executed ownership, licence and use agreements; rights of use are not automatically off balance sheet. |
| Dubai company formation | Already paid | Management information. Formation costs have already been paid. No new founder cash contribution or separate incorporation charge is added. |
| Prepared team and internal orders | Operating readiness | Prior salaried development and the prepared team support readiness. People are not booked as property. Internal orders are not added to the contribution value; sales are recognised in the existing operating forecast. |
| Incremental purchases | 159,000 | Existing forecast retains $90,000 equipment and $69,000 software purchases, additional to the provided base. Reconcile inventory before procurement to prevent overlap. |
| Operating model | Oristella operating model (management) | Service-stream and monthly operating schedules supplied by management. This is a standalone Oristella project forecast. |
| Accounting basis | Management project balance | Management project forecast. Founder-provided resources are shown as a memo item. Statutory treatment follows the actual agreements and applicable accounting standards. |
| Expert assessment of first two external assignments | Included in initial delivery | No separate assessment fee. Internal assessment uses the existing delivery and development cost budgets. Future automation savings are not added to either forecast; any external specialist work outside these budgets is separately contracted. |
Base Monthly
| Oristella base monthly development forecast (USD) | ||||||||||||||||||||||||||||
| Base forecast. Founder resources are non-cash. No distributions or scheduled financing repayment. | ||||||||||||||||||||||||||||
| Project month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | ||
| Month | Nov 2026 | Dec 2026 | Jan 2027 | Feb 2027 | Mar 2027 | Apr 2027 | May 2027 | Jun 2027 | Jul 2027 | Aug 2027 | Sep 2027 | Oct 2027 | Nov 2027 | Dec 2027 | Jan 2028 | Feb 2028 | Mar 2028 | Apr 2028 | May 2028 | Jun 2028 | Jul 2028 | Aug 2028 | Sep 2028 | Oct 2028 | Nov 2028 | Dec 2028 | ||
| Revenue (received in cash in the month) | 0 | 0 | 22,900 | 31,400 | 41,800 | 49,700 | 54,300 | 60,800 | 93,400 | 109,400 | 133,300 | 133,400 | 133,400 | 133,400 | 146,740 | 146,740 | 146,740 | 161,414 | 161,414 | 161,414 | 177,555 | 177,555 | 177,555 | 195,311 | 195,311 | 195,311 | ||
| Operating expenses (staff, suppliers, services) | (41,900) | (47,800) | (51,200) | (51,200) | (58,050) | (55,050) | (55,050) | (55,050) | (62,000) | (62,000) | (62,000) | (60,000) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | (61,333) | ||
| Additions - property, plant and equipment | 43,000 | 47,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Additions - purchased software rights | 0 | 69,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Property, plant and equipment - cost, cumulative | 43,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | ||
| Software rights - cost, cumulative | 0 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | ||
| Depreciation - property, plant and equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (18,000) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (18,000) | ||
| Amortisation - software rights | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (13,800) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (13,800) | ||
| Accumulated depreciation, cumulative | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 36,000 | ||
| Accumulated amortisation, cumulative | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 13,800 | 27,600 | ||
| Property, plant and equipment - carrying amount | 43,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 90,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 54,000 | ||
| Software rights - carrying amount | 0 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 69,000 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 55,200 | 41,400 | ||
| Profit before tax | (41,900) | (19,855) | (28,300) | (19,800) | 39,640 | (5,350) | (750) | 61,640 | 31,400 | 47,400 | 127,190 | 73,400 | 72,067 | 90,568 | 85,407 | 85,407 | 141,297 | 100,081 | 100,081 | 155,971 | 116,222 | 116,222 | 172,112 | 133,978 | 133,978 | 107,767 | ||
| Income tax expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (29,272) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (121,177) | ||
| Profit for the period | (41,900) | (19,855) | (28,300) | (19,800) | 39,640 | (5,350) | (750) | 61,640 | 31,400 | 47,400 | 127,190 | 73,400 | 72,067 | 61,296 | 85,407 | 85,407 | 141,297 | 100,081 | 100,081 | 155,971 | 116,222 | 116,222 | 172,112 | 133,978 | 133,978 | (13,410) | ||
| Investor financing received | 300,000 | 0 | 110,000 | 0 | 0 | 50,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Scheduled repayments (none) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Investor financing pending final terms | 300,000 | 300,000 | 410,000 | 410,000 | 410,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | ||
| Income tax paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (29,272) | 0 | 0 | 0 | ||
| Income tax payable - balance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,272 | 29,272 | 29,272 | 29,272 | 29,272 | 29,272 | 29,272 | 29,272 | 29,272 | 0 | 0 | 0 | 121,177 | ||
| Approved cash distributions - total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Retained earnings - balance | (41,900) | (61,755) | (90,055) | (109,855) | (70,215) | (75,565) | (76,315) | (14,675) | 16,725 | 64,125 | 191,315 | 264,715 | 336,782 | 398,078 | 483,484 | 568,891 | 710,188 | 810,268 | 910,349 | 1,066,320 | 1,182,542 | 1,298,764 | 1,470,876 | 1,604,854 | 1,738,831 | 1,725,421 | ||
| Net cash from operating activities | (41,900) | (19,855) | (28,300) | (19,800) | 39,640 | (5,350) | (750) | 61,640 | 31,400 | 47,400 | 127,190 | 73,400 | 72,067 | 127,957 | 85,407 | 85,407 | 141,297 | 100,081 | 100,081 | 155,971 | 116,222 | 116,222 | 142,841 | 133,978 | 133,978 | 189,868 | ||
| Net cash used in investing activities | (43,000) | (143,945) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | 0 | 0 | (55,890) | ||
| Net cash from financing activities | 300,000 | 0 | 110,000 | 0 | 0 | 50,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Net change in cash | 215,100 | (163,800) | 81,700 | (19,800) | (16,250) | 44,650 | (750) | 5,750 | 31,400 | 47,400 | 71,300 | 73,400 | 72,067 | 72,067 | 85,407 | 85,407 | 85,407 | 100,081 | 100,081 | 100,081 | 116,222 | 116,222 | 86,951 | 133,978 | 133,978 | 133,978 | ||
| Opening cash | 0 | 215,100 | 51,300 | 133,000 | 113,200 | 96,950 | 141,600 | 140,850 | 146,600 | 178,000 | 225,400 | 296,700 | 370,100 | 442,167 | 514,233 | 599,640 | 685,047 | 770,453 | 870,534 | 970,615 | 1,070,695 | 1,186,917 | 1,303,139 | 1,390,090 | 1,524,068 | 1,658,045 | ||
| Closing cash | 215,100 | 51,300 | 133,000 | 113,200 | 96,950 | 141,600 | 140,850 | 146,600 | 178,000 | 225,400 | 296,700 | 370,100 | 442,167 | 514,233 | 599,640 | 685,047 | 770,453 | 870,534 | 970,615 | 1,070,695 | 1,186,917 | 1,303,139 | 1,390,090 | 1,524,068 | 1,658,045 | 1,792,023 | ||
| Total assets | 258,100 | 238,245 | 319,945 | 300,145 | 339,785 | 384,435 | 383,685 | 445,325 | 476,725 | 524,125 | 651,315 | 724,715 | 796,782 | 887,349 | 972,756 | 1,058,163 | 1,199,459 | 1,299,540 | 1,399,621 | 1,555,591 | 1,671,813 | 1,788,035 | 1,930,876 | 2,064,854 | 2,198,831 | 2,306,598 | ||
| Tax and provisional investor financing | 300,000 | 300,000 | 410,000 | 410,000 | 410,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 460,000 | 489,272 | 489,272 | 489,272 | 489,272 | 489,272 | 489,272 | 489,272 | 489,272 | 489,272 | 460,000 | 460,000 | 460,000 | 581,177 | ||
| Capital and retained results | (41,900) | (61,755) | (90,055) | (109,855) | (70,215) | (75,565) | (76,315) | (14,675) | 16,725 | 64,125 | 191,315 | 264,715 | 336,782 | 398,078 | 483,484 | 568,891 | 710,188 | 810,268 | 910,349 | 1,066,320 | 1,182,542 | 1,298,764 | 1,470,876 | 1,604,854 | 1,738,831 | 1,725,421 | ||
| Balance check (assets − liabilities − equity) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Development costs capitalised (intangible assets) | 0 | 27,945 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | 0 | 0 | 55,890 | ||
| Software developed in-house - cost, cumulative | 0 | 27,945 | 27,945 | 27,945 | 83,835 | 83,835 | 83,835 | 139,725 | 139,725 | 139,725 | 195,615 | 195,615 | 195,615 | 251,505 | 251,505 | 251,505 | 307,395 | 307,395 | 307,395 | 363,285 | 363,285 | 363,285 | 419,175 | 419,175 | 419,175 | 475,065 | ||
| Amortisation - software developed in-house | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (5,589) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (50,301) | ||
| Accumulated amortisation in-house, cumulative | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 5,589 | 55,890 | ||
| Software developed in-house - carrying amount | 0 | 27,945 | 27,945 | 27,945 | 83,835 | 83,835 | 83,835 | 139,725 | 139,725 | 139,725 | 195,615 | 195,615 | 195,615 | 245,916 | 245,916 | 245,916 | 301,806 | 301,806 | 301,806 | 357,696 | 357,696 | 357,696 | 413,586 | 413,586 | 413,586 | 419,175 | ||
| Founder cash receipts (none) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Founder cash capital (none) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Approved aggregate holder distributions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Other holder payments (none scheduled) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Development team costs (lead, specialists, developers, with employer costs) | 27,600 | 34,500 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | 41,400 | ||
| Free cash flow before financing and distributions | (84,900) | (163,800) | (28,300) | (19,800) | (16,250) | (5,350) | (750) | 5,750 | 31,400 | 47,400 | 71,300 | 73,400 | 72,067 | 72,067 | 85,407 | 85,407 | 85,407 | 100,081 | 100,081 | 100,081 | 116,222 | 116,222 | 86,951 | 133,978 | 133,978 | 133,978 | ||
| Cumulative free cash flow since November 2026 | (84,900) | (248,700) | (277,000) | (296,800) | (313,050) | (318,400) | (319,150) | (313,400) | (282,000) | (234,600) | (163,300) | (89,900) | (17,833) | 54,233 | 139,640 | 225,047 | 310,453 | 410,534 | 510,615 | 610,695 | 726,917 | 843,139 | 930,090 | 1,064,068 | 1,198,045 | 1,332,023 | ||
| Cash above unpaid income tax and planning reserve | 165,100 | 1,300 | 83,000 | 63,200 | 46,950 | 91,600 | 90,850 | 96,600 | 128,000 | 175,400 | 246,700 | 320,100 | 392,167 | 434,962 | 520,368 | 605,775 | 691,182 | 791,262 | 891,343 | 991,424 | 1,107,646 | 1,223,868 | 1,340,090 | 1,474,068 | 1,608,045 | 1,620,846 | ||
| Founder resources recognised in this forecast | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Founder assets recognised in this forecast | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |