Overview

Sheet 1: Exce. Summary

LMN - Business Plan Summary




Annualized run rate based on last month of year


Rs. In Crores Outlet Count FY19-20 FY20-21 FY21-22
Rs. In Crores Mar-20 Mar-21 Mar-22










Sliders
0.16 - -
Sliders - - -
LMN - PVR 3 0.09 - -
LMN - PVR - - -
Outdoor Catering 1 0.84 1.50 1.99
Outdoor Catering 1.38 1.79 2.39
Existing Outlets - LMN 16 13.15 18.42 21.61
Existing Outlets - LMN 15.46 19.87 21.36
Proposed Outlets - LMN (FY15) 2 0.18 2.28 2.65
Proposed Outlets - LMN (FY15) 1.65 2.40 2.54
Proposed Outlets - LMN (FY16) 11 - 4.03 6.27
Proposed Outlets - LMN (FY16) - 5.83 6.50
Proposed On The Go - LMN (FY16) 15 - 2.04 6.92
Proposed On The Go - LMN (FY16) - 5.17 7.77










Gross Revenues (Excluding Other Income)
14.42 28.27 39.44
Gross Revenues (Excluding Other Income) 18.48 35.06 40.56










Sliders
0.14 - -
Sliders - - -
LMN - PVR 3 0.08 - -
LMN - PVR - - -
Outdoor Catering 1 0.74 1.34 1.78
Outdoor Catering 1.23 1.60 2.14
Existing Outlets - LMN 16 12.17 17.02 19.96
Existing Outlets - LMN 14.28 18.35 19.73
Proposed Outlets - LMN (FY15) 2 0.16 2.06 2.40
Proposed Outlets - LMN (FY15) 1.49 2.17 2.30
Proposed Outlets - LMN (FY16) 11 - 3.65 5.68
Proposed Outlets - LMN (FY16) - 5.28 5.88
Proposed On The Go - LMN (FY16) 15 - 1.94 6.57
Proposed On The Go - LMN (FY16) - 4.91 7.38










Net Revenues (Excluding Other Income)
13.29 26.01 36.39
Net Revenues (Excluding Other Income) 17.00 32.31 37.43










Sliders
(0.05) - -
Net Revenues (Excluding Other Income) Monthly 1.42 2.69 3.12
LMN - PVR
(0.04) - -




Outdoor Catering
0.25 0.59 0.89
Total Outlets 19 45 45
Existing Outlets - LMN
(0.46) 1.09 2.28




Proposed Outlets - LMN (FY15)
(0.02) 0.25 0.38
Net Revenues per Outlet per month average (In Lacs) 7.46 5.98 6.93
Proposed Outlets - LMN (FY16)
- 0.25 0.96




Proposed On The Go - LMN (FY16)
- (0.17) 0.89














Store EBIDTA
(0.33) 2.01 5.40




Store EBIDTA %
-2.48% 7.71% 14.83%














Less: Corporate Overheads
(4.48) (5.96) (5.96)
CFO - cost per month


Less: Marketing Costs (Excluding Outlet Level)
(0.32) (0.81) (0.81)
Financial Controler by August


Add: Other Income
0.32 0.54 0.02
Marketing 15th april 2020


Corporate EBIDTA
(4.81) (4.22) (1.36)
Thane Viva City to be closed.








Job sheet - Saki naka to be closed


Depreciation
1.49 2.60 2.99




PBT
(6.30) (6.83) (4.35)














Cash Flow - Summary








Rs. In Crores
FY19-20 FY20-21 FY21-22














Corporate EBIDTA
(4.81) (4.22) (1.36)




Working Capital
1.07 0.99 0.30














Capex
(4.63) (4.43) -




Sliders
- - -




LMN - PVR
- - -




Outdoor Catering
0.28 0.05 -




Existing Outlets - LMN
3.12 0.21 -




Proposed Outlets - LMN (FY15)
0.54 - -




Proposed Outlets - LMN (FY16)
- 1.48 -




Proposed On The Go - LMN (FY16)
- 1.79 -




IT System + Hardware
- 0.12 -




Deposits
0.69 0.78 -














Net Cash Outflow
(8.36) (7.67) (1.06)




Add: Opening Balance
5.50 0.13 2.45




Add: Additional Funding
2.99 10.00 -




Closing Cash Balance
0.13 2.45 1.39




Peak Cash Flow Requirement
8.36 7.67 1.06














Delivery Sales %








Rs. In Crores
FY19-20 FY20-21 FY21-22




Net Revenues
13.29 26.01 36.39




Dine in Sales
10.81 19.37 26.94




Delivery Sales
2.49 6.64 9.45




Delivery Sales %
18.71% 25.52% 25.98%














Rollout Summary








Outlets FY19-20 FY20-21 FY21-22





Existing 10 17 28





Proposed:








April - - -





May - - -





June 1 1 -





July 1 2 -





August - 1 -





September - 1 -





October 1 1 -





November - 2 -





December 1 1 -





January - 1 -





February 1 1 -





March 2 - -





Total Proposed 7 11 -





Total Outlets 17 28 28















Theatre FY19-20 FY20-21 FY21-22





Existing - - -





Proposed:








April - - -





June - - -





July - - -





August 2 - -





September 1 - -





November - - -





January (3)







Total Proposed - - -





Total Theatres - - -





Note: Theatre operations to be stopped wef 31st Jan 2020.


















On The Go FY19-20 FY20-21 FY21-22





Existing 1 2 17





Proposed:








April - - -





May - - -





June 1 1 -





July - 1 -





August - 2 -





September - 2 -





October - 2 -





November - 1 -





December - 1 -





January - 1 -





February - 2 -





March - 2 -





Total Proposed 1 15 -





Total Outlets 2 17 17















Summary of All Outlets








All Outlets FY19-20 FY20-21 FY21-22





Existing 11 19 45





Proposed: 8 26 -





Total Outlets 19 45 45






Sheet 2: Assumptions

Outlet Rollout
















Status











Count Outlets FY20-21 Type Start Month Sq. Ft Rate Rent Refurbishment Priority Deposit





1 Carter Road Existing On The Go











2 Phoenix Existing Mall











3 Inorbit Mall Existing Mall











4 BKC Existing Mall











5 Mulund Existing Stand Alone











6 Oshiwara Existing Stand Alone











7 Vashi Existing Stand Alone











8 Pune Existing Mall



1






9 Versova Existing Stand Alone











10 Oberoi Mall Existing Mall











11 Waterfield Existing Stand Alone











12 Reclamation Existing Stand Alone











13 Dadar Existing On The Go











14 Mahim Existing Stand Alone











15 Mira Road Existing Stand Alone











16 Growel's Mall Existing Mall











17 Rcity Mall Finalized Mall
400 375 150,000
900,000





18 Viviana Mall Proposed Mall
400 200 80,000 1 480,000





19 Koregoan Park Proposed Stand Alone may 350 300 105,000
630,000





20 Hinjewadi Proposed Stand Alone may 350 200 70,000
420,000





21 5 Gardens Proposed Stand Alone June 300 350 105,000
630,000





22 Kalyani Nagar Proposed Stand Alone aug 375 250 93,750
562,500





23 Dhole Patil Road Proposed Stand Alone aug 300 300 90,000
540,000





24 Sakinaka - Andheri Kurla Rd Proposed Stand Alone sept 300 300 90,000
300,000





25 Juhu Proposed Stand Alone nov 375 450 168,750
750,000





26 Camp Proposed Stand Alone nov 375 250 93,750
562,500





27 Fort Proposed Stand Alone Dec 375 350 131,250
787,500





28 Powai Proposed Stand Alone Dec 400 275 110,000
660,000





29 Colaba Proposed Stand Alone Jan 300 400 120,000
720,000





Note: Names and sequencing of the outlets are for reference purpose and subject to change as per availability.






























Count ODC & Delivery Kitchen Status Type Start Month Sq. Ft Rate Rent
Deposit





1 Worli Proposed Warehouse October 2,000 73 145,000
870,000





















Other Restaurant Cost














Packing Cost as % of Revenue
3.00%












Credit Card Charges as % of Sales
1.50%












CC as a % of sales
15.00%












Delivery Expenses as % of Delivery Sales
12.50%












Repairs & Maintenance & AMCs
6000












Logistic Cost
3000




























Incentive Plan














Monthly Incentives
0.35%












Monthly Star
25000












Yearly Star
200000




























CAPEX Rollout
Stand Alone Mall On The Go Warehouse









Deposit No. of Months
6 6 6 6









Capital Expenditure
2,378,500 2,583,500 1,168,500 2,645,000









Exhaust System
185,000 215,000 85,000 175,000









Kitchen Equipment & Accessories
575,000 650,000 325,000 350,000









Improvement to Leasehold
850,000 900,000 275,000 600,000









Furniture & Fixtures
325,000 200,000 135,000 275,000









Electricals & ACs
175,000 350,000 125,000 275,000









Vehicles
100,000 100,000 55,000 650,000









Software / Hardware
158,500 158,500 158,500 275,000









FOH Equipment
10,000 10,000 10,000 45,000









Pre Operative Expenditure
295,000 285,000 185,000 260,000









Architect's Fees
- - - -









Kitchen Consultant
- - - -









Licenses
210,000 210,000 100,000 175,000









Brokerage No. of Rent
1 1 1 1









Pre Operative Rent Capitalized
1 1 1 1









Onetime Marketing Cost
85,000 75,000 85,000 85,000









Inventory (at cost) days - - - -









Net Working Capital days - - - -









Capital Employed
2,673,500 2,868,500 1,353,500 2,905,000

























CAPEX Refurbishment
Pune Viviana Mall











Kitchen Equipment & Accessories
225,000 240,000











Improvement to Leasehold
350,000 350,000











Furniture & Fixtures
250,000 215,000











Electricals
75,000 125,000











Software / Hardware
101,000 185,000











Architect's Fees
- -











Capital Expenditure
1,001,000 1,115,000



























Time to Refurbish in days
15




























CAPEX ODC
Amount












Kitchen Equipment & Accessories
500,000












Capital Expenditure
500,000












Spend Month






























Software/ Hardware
Amount












POS System for New Outlet
70,000












CCTV Setup for New Outlet
25,000












Bio-Matrics for New Outlet
25,000












D-Link Internet Router
3,000












Mobile Handset
2,500












Brain Power POS for new outlet
27,500












Google Business - Photo Shoot
5,500














158,500




























COGS %
































April May June July August September October November December January February March FY 15-16 FY 16-17
COGS Outdoor Catering
37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0% 37.0%
COGS LMN
34.0% 34.0% 34.0% 33.0% 33.0% 33.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0%
COGS Sliders
30.0% 30.0% 30.0% 33.0% 33.0% 33.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0% 32.0%
















Seasonality Factor































1 2 3 4 5 6 7 8 9 10 11 12



Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12


Month April May June July August September October November December January February March


Days 30 31 30 31 31 30 31 30 31 31 28 31


Stand alone Net Sales Vashi 496,266 495,755 507,109 485,163 493,176 557,770 508,771 537,284 589,072 528,349 469,887 514,900


Mall Net Sales Inorbit 1,161,441 1,251,448 1,180,390 1,366,350 1,138,680 931,075 1,040,874 1,049,642 1,156,795 1,330,655 901,042 926,148


Mall Net Sales Pune 571,981 595,626 573,420 604,313 550,690 463,221 435,089 520,127 603,066 562,281 516,360 571,579


Total 2,229,688 2,342,829 2,260,919 2,455,826 2,182,546 1,952,066 1,984,734 2,107,053 2,348,933 2,421,285 1,887,289 2,012,627


Average Per Day 74,323 75,575 75,364 79,220 70,405 65,069 64,024 70,235 75,772 78,106 67,403 64,923


Month April May June July August September October November December January February March


Seasonality Factor 1.04 1.05 1.05 1.10 0.98 0.91 0.89 0.98 1.06 1.09 0.94 0.91


Growth Rate New Outlets 14% 10% 10% 8% 8% 8% 5% 5% 5% 5% 2% 2%



















































































































































































































License Renewal Breakup






























Outlets Shop Act Eating House Police RC Weights Fees Total








Carter Road 1,200 2,841 75 200 20,000 24,316








Phoenix 1,200 6,270 75 300 20,000 27,845








Inorbit Mall 5,000 4,528 75 200 20,000 29,803








BKC 4,800 8,696 75 200 20,000 33,771








Mulund 2,880 5,000 75 300 20,000 28,255








Oshiwara 4,800 6,000 75 200 20,000 31,075








Vashi 1,440 6,000 75 200 20,000 27,715








Pune 1,260 6,000 75 200 20,000 27,535








Versova 4,800 6,000 75 200 20,000 31,075








Oberoi Mall 5,000 5,947 75 100 20,000 31,122








Waterfield 1,200 6,520 75 200 20,000 27,995








Reclamation 1,200 6,520 75 200 20,000 27,995








Dadar 1,200 6,520 75 200 20,000 27,995








Mahim 1,200 6,520 75 200 20,000 27,995








Mira Road 1,200 6,520 75 200 20,000 27,995








Office 10,760 - - - 10,000 20,760
























Legal & Professional Fees















Per Month














FY 14-15 FY 15-16












O & A Associates 83,333 - Architect











SA Design 33,333 33,333 Kitchen Consultant











HGS 25,000 25,000 Salary Outsource











Rajesh Dadia 20,000 20,000 Tax Consultant











Lawyer 35,000 35,000 Legal Consultant











VPP & Associates 20,000 20,000 ROC Consultant











Mahajan & Aibara 67,666 67,666 Internal Auditor











My CFO 133,147 - Consulting CFO











ERP Server Expense 55,000 55,000 Server Outsourcing Cost











Savio Fernandes 75,000 75,000 Liasioning Consultant











Budgeted 150,000 50,000 SKU back ending











Total 697,479 380,999













Sheet 3: Consolidated P&L

Consolidated P&L Statement
















































































40%
Particulars
Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 FY 19-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 FY 20-21 FY 21-22 FY 21-22
Gross Sales
10,018,736 11,060,678 10,496,253 11,055,470 10,731,836 9,837,297 12,028,381 11,264,393 13,973,141 14,604,304 13,684,851 15,402,922 144,158,262 15,356,075 16,798,113 19,977,763 22,133,447 22,102,822 21,813,287 23,225,833 25,381,419 28,940,457 30,675,131 27,062,236 29,215,243 29,558,991 32,147,191 32,124,731 33,698,615 32,257,354 31,253,716 31,836,448 33,260,575 35,639,083 36,282,709 32,546,740 33,801,974 282,681,825 394,408,127 611,332,597
Total Taxes
794,540 877,820 809,049 843,637 797,541 726,658 907,923 850,014 1,124,299 1,160,302 1,092,058 1,232,544 11,216,385 1,212,889 1,338,367 1,632,184 1,799,642 1,785,680 1,751,905 1,857,329 2,029,664 2,318,937 2,454,106 2,135,211 2,289,341 2,300,718 2,496,558 2,488,776 2,602,118 2,481,419 2,404,052 2,451,246 2,568,319 2,765,395 2,809,959 2,507,849 2,607,825 22,605,255 30,484,234
Net Sales
9,224,196 10,182,858 9,687,204 10,211,833 9,934,295 9,110,640 11,120,458 10,414,379 12,848,842 13,444,002 12,592,793 14,170,378 132,941,878 14,143,186 15,459,746 18,345,579 20,333,805 20,317,142 20,061,382 21,368,504 23,351,755 26,621,520 28,221,025 24,927,025 26,925,902 27,258,273 29,650,633 29,635,955 31,096,497 29,775,935 28,849,664 29,385,202 30,692,256 32,873,688 33,472,750 30,038,891 31,194,149 260,076,570 363,923,893
COGS - Outdoor Catering
211,674 - (3,560) 177,743 75,070 53,564 205,554 177,524 842,350 21,660 114,820 125,252 2,001,650 129,133 133,162 137,346 141,688 146,186 150,857 155,702 160,729 165,947 171,356 176,974 182,800 188,843 195,112 201,615 208,361 215,359 222,627 230,163 237,986 246,096 254,509 263,244 272,300 1,851,880 2,736,215
COGS - Sliders
97,067 162,269 129,308 95,094 92,783 26,753 - - - - - - 603,274 - - - - - - - - - - - - - - - - - - - - - - - - - -
COGS - LMN (Existing)
3,143,321 3,306,338 3,216,820 3,446,620 3,280,436 3,389,688 3,937,816 3,619,203 3,936,857 4,266,105 3,880,660 4,163,742 43,587,606 4,646,110 5,044,373 5,058,285 5,499,748 5,404,064 5,171,960 5,310,191 5,637,356 6,314,930 6,566,539 5,609,781 5,931,447 5,973,576 6,630,911 6,521,939 6,937,134 6,437,108 6,023,933 6,100,742 6,402,959 6,953,948 7,132,580 6,048,462 6,368,688 66,194,785 77,531,979
LMN (PVR & Theatres)
- - - - 25,369 79,524 92,255 101,673 93,139 72,371 - - 464,330 - - - - - - - - - - - - - - - - - - - - - - - - - -
LMN (Kiosk)












- - - 59,565 127,469 261,729 411,797 575,228 693,663 817,999 947,819 1,142,835 1,350,498 1,450,146 1,541,141 1,627,228 1,703,852 1,771,884 1,827,521 1,873,386 1,915,994 1,955,126 1,986,779 2,009,163 2,029,255 6,388,602 21,691,475
COGS - LMN (New Outlets)
- - - - - - - - - - 121,989 398,539 520,528 - - 848,614 1,010,522 990,312 961,118 1,049,043 1,207,280 1,416,839 1,529,764 1,251,139 1,408,029 1,436,197 1,464,931 1,472,251 1,479,615 1,506,606 1,520,016 1,529,415 1,537,644 1,545,504 1,553,318 1,561,072 1,568,885 11,672,660 18,175,454
Gross Margins 64.51% 5,772,133 6,714,251 6,344,636 6,492,377 6,460,638 5,561,111 6,884,833 6,515,980 7,976,496 9,083,866 8,475,324 9,482,845 85,764,489 9,367,943 10,282,211 12,241,769 13,554,378 13,514,851 13,365,650 14,278,340 15,652,727 17,905,804 19,005,547 16,746,296 18,053,127 18,209,511 19,818,538 19,812,922 20,767,535 19,844,978 19,255,567 19,651,495 20,597,673 22,173,014 22,545,565 20,156,950 20,955,021 173,968,643 243,788,770 66.89%
Employee Related Cost 19.06% 1,751,884 1,750,853 1,886,518 2,010,979 2,079,491 2,006,165 2,163,176 2,244,702 2,330,846 2,295,362 2,354,632 2,467,146 25,341,751 2,657,700 2,667,682 3,566,182 3,639,790 3,783,521 3,936,539 4,095,129 4,181,737 4,274,845 4,357,352 4,489,940 4,634,987 4,733,713 4,740,677 4,740,677 4,739,284 4,726,825 4,729,843 4,738,433 4,756,077 4,785,097 4,780,608 4,752,517 4,760,488 46,285,402 56,984,237 17.80%
Rent Cost 20.15% 1,897,799 2,061,970 2,074,514 2,153,010 2,046,526 2,104,922 2,288,445 2,265,199 2,510,357 2,274,611 2,509,958 2,606,019 26,793,329 2,641,450 2,670,259 3,281,009 3,364,735 3,487,867 3,590,882 3,726,084 3,818,752 3,988,076 4,076,705 4,095,926 4,222,874 4,237,437 4,306,380 4,295,269 4,349,465 4,310,543 4,289,255 4,311,691 4,360,352 4,459,268 4,475,628 4,330,753 4,377,287 42,964,621 52,103,329 16.52%
Utility Cost 13.92% 1,242,243 1,171,852 1,280,642 1,674,138 1,582,019 1,537,091 1,472,536 1,483,764 1,518,818 1,755,262 1,769,388 2,012,917 18,500,671 1,946,921 2,038,993 2,366,298 2,533,410 2,535,303 2,512,771 2,616,735 2,777,759 3,033,154 3,160,659 2,892,548 3,064,395 3,102,028 3,276,991 3,275,224 3,384,323 3,297,149 3,225,581 3,257,859 3,340,190 3,478,430 3,524,967 3,290,561 3,368,596 31,478,950 39,821,903 12.10%
Other Restaurant Cost 13.91% 941,924 1,024,888 1,494,397 1,882,135 1,635,966 1,326,664 1,510,592 1,231,855 1,896,174 1,941,888 1,786,900 1,815,693 18,489,079 1,831,598 1,924,016 2,823,488 2,501,165 2,728,536 2,620,303 2,734,290 2,825,635 3,241,875 3,600,826 3,084,808 3,263,057 3,122,915 3,327,862 3,322,742 3,447,071 3,414,827 3,246,859 3,288,104 3,394,318 3,656,350 3,919,948 3,328,015 3,423,307 33,179,596 40,892,318 12.76%
Store EBITDA -2.53% (61,716) 704,688 (391,435) (1,227,885) (883,365) (1,413,731) (549,916) (709,540) (279,698) 816,742 54,446 581,069 (3,360,339) 290,274 981,261 204,792 1,515,278 979,623 705,154 1,106,102 2,048,844 3,367,854 3,810,005 2,183,073 2,867,814 3,013,418 4,166,628 4,179,010 4,847,391 4,095,634 3,764,029 4,055,408 4,746,736 5,793,869 5,844,413 4,455,104 5,025,343 20,060,074 53,986,983 7.71%
Other Operating Income
(1,237) 604 9,624 15,060 12,788 2,331 5,723 5,859 6,489 - - - 57,240 - - - - - - - - - - - - - - - - - - - - - - - - - - 0.00%
EBITDA After Operating Income -2.48% (62,954) 705,292 (381,811) (1,212,825) (870,577) (1,411,401) (544,193) (703,681) (273,209) 816,742 54,446 581,069 (3,303,100) 290,274 981,261 204,792 1,515,278 979,623 705,154 1,106,102 2,048,844 3,367,854 3,810,005 2,183,073 2,867,814 3,013,418 4,166,628 4,179,010 4,847,391 4,095,634 3,764,029 4,055,408 4,746,736 5,793,869 5,844,413 4,455,104 5,025,343 20,060,074 53,986,983 7.71%
Contractual Income
- - - - 500,000 300,000 - 200,000 - - - - 1,000,000 - - 250,000 - - 250,000 - - 250,000 - 150,000 - - - - - - - - - - - - - 900,000 -
Credit Balance W/off
- - - - - - - - - - - - -























- -
Discount Received
1 640 - - 1 5 2 1 1


650























- -
Excess Short A/c
(85) (140) 3 71 396 3 81 571 3


904























- -
Franshise Fees 75,000 65,238 71,750 73,005 65,196 50,491 44,209 53,374 55,989 64,856 64,856 64,856 20,000 693,820 - - - - - - - - - - - - - - - - - - - - - - - - - -
Income Form Management Fees
- - - - - - - - -


-























- -
Income Form Mutual Fund Investments
609,686 283,083 196,705 180,025 91,688 51,416 7,972 50,681 1,866 - - - 1,473,123 616,667 593,333 593,333 544,000 481,000 414,333 346,000 282,000 213,000 177,667 145,667 75,667 38,333 25,000 23,333 21,667 21,667 17,667 3,667 - - - - - 4,482,667 151,334
Income From Royalty
- - - - - - - - -


-























- -
Other Income
674,840 355,333 269,714 245,291 642,576 395,633 61,429 307,242 66,726 64,856 64,856 20,000 3,168,496 616,667 593,333 843,333 544,000 481,000 664,333 346,000 282,000 463,000 177,667 295,667 75,667 38,333 25,000 23,333 21,667 21,667 17,667 3,667 - - - - - 5,382,667 151,334
Corporate Costs
3,761,612 3,192,420 4,185,014 4,017,489 4,213,808 5,115,843 3,937,561 4,293,165 3,775,721 3,177,858 3,866,879 4,320,400 47,857,770 5,516,602 4,996,887 7,010,487 5,334,946 5,609,887 5,643,992 5,573,567 5,430,509 5,441,953 5,447,551 5,586,022 6,093,018 5,590,151 5,596,524 5,596,473 5,601,585 5,596,963 5,593,721 5,595,595 5,600,170 5,607,805 5,609,902 5,597,883 6,151,927 67,685,421 67,738,700
Stock Difference
3,030 - (172,670) 79,235 (162,340) (252,830) 87,254 30,636 55,582


(332,103)


























Employee Related Expenses 1,706,764 1,921,337 1,923,003 1,964,605 2,022,051 2,026,781 2,013,243 2,068,815 2,057,677 1,680,751 1,681,601 1,678,622 1,959,144 22,997,630 2,691,532 2,810,140 2,895,240 3,007,199 3,122,141 3,196,246 3,200,820 3,207,762 3,219,206 3,224,804 3,213,275 3,420,271 3,515,404 3,523,778 3,523,726 3,528,838 3,524,216 3,520,974 3,522,849 3,527,423 3,535,058 3,537,155 3,525,137 3,729,180 37,208,637 42,513,739
Rent (All Rents) 300,000 284,632 293,896 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 3,378,528 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 355,000 4,260,000 4,260,000
Rent 300,000 284,632 293,896 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 3,378,528 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,0