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Contents
RP98793_1 Round 4 - 2025 Report
Section 1 High Level Overview
Section 2 Research & Development
Section 3 Marketing - United States of America: Low Tech
Section 4 Marketing - United States of America: High Tech
Section 5 Marketing - Germany: Low Tech
Section 6 Marketing - Germany: High Tech
Section 7 Marketing - China: Low Tech
Section 8 Marketing - China: High Tech
Section 9 Production
Section 10 Finance
Section 11 Custom Modules
0 . 1 R o st er
Andrews
Daniel Borowski
Antonia Martin
Angelina Adu-Henaku
Mauricio De Casa
Andrew Kravchenko
Anjah Flora Ayuk
Baldwin
Jacqueline Randolph
Emily Leite
Earli Lesane-Evans
Jacquelyn Jose
Donald Ru�n
Darriel Hawkins
Chester
Patricia Czyzewski
Kirstie Hafer
Megan Graham
Mark Ahrens
Javis LeMelle
Victoria Pearlman
Digby
Travis Lee
Ruslana Milikhiker
Shemeika Gilmore
Valerie Gregorio
Zachary Masin
Erie Ferris
Section 1 | High Level Overview Please note: For �nancials, millions are reported in thousands
1 . 1 H ig h L ev el O v er v iew
Andrews Baldwin Chester Digby Erie Ferris Average
Sales $49,459 $72,531 $98,644 $141,386 $23,537 $257,914 $107,245
EBIT ($2,046) $19,583 $23,756 $25,515 ($349) $48,847 $19,218
Pro�t ($10,225) $10,905 $14,061 $9,590 ($1,103) $22,937 $7,694
Cumulative Pro�t ($4,684) $19,693 $38,273 $40,844 $19,988 $85,380 $33,249
SG&A to Sales Ratio 13.38% 7.33% 9.89% 11.05% 9.34% 6.43% 9.57%
Contribution Margin 17.06% 39.43% 40.47% 35.82% 16.52% 30.41% 29.95%
Stock Price $1.00 $32.24 $49.81 $23.31 $15.18 $104.27 $37.64
Market Cap $2m $64m $145m $54m $30m $225m $87m
Emergency Loan $72,178 $10,536 $0 $42,575 $4,453 $0 $21,624
1 . 2 Ma r ket Sh a r e
Andrews Baldwin Chester Digby Erie Ferris
United States of America 11.4% 16.8% 22.8% 32.7% 5.4% 10.8%
Germany 0% 0% 0% 0% 0% 100%
China 0% 0% 0% 0% 0% 100%
Global Market Share 7.7% 11.3% 15.3% 22% 3.7% 40.1%
1.3 USA Market Share
AndrewsAndrews 11.4 %11.4 % Andrews 11.4 %
BaldwinBaldwin 16.8 %16.8 % Baldwin 16.8 %
ChesterChester 22.8 %22.8 % Chester 22.8 %
DigbyDigby 32.7 %32.7 % Digby 32.7 %
ErieErie 5.4 %5.4 % Erie 5.4 %
FerrisFerris 10.8 %10.8 % Ferris 10.8 %
Andrews Baldwin Chester Digby
Erie Ferris
1.4 Germany Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby
Erie Ferris
1.5 China Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby
Erie Ferris
Section 2 | Research & Development
2 . 1 P r o d u ct L ist
Name Speed Accuracy Service Life Region Kit Age Revision Date Design Score
Able 8.0 8.6 20,000 USA 2.5 April 8, 2025 53
Baker 6.3 6.3 20,000 3.1 October 30, 2024 90
Cake 7.2 7.2 14,500 USA 1.3 December 22, 2025 26
Clack 9.3 9.3 21,500 USA 0.9 December 29, 2025 56
Dart 7.7 7.9 20,500 USA 1.0 August 7, 2025 28
Daze 9.8 10.0 23,000 USA 1.4 August 25, 2025 93
Dell 9.5 9.5 23,000 USA 0.3 August 26, 2025 79
Eat 6.4 6.4 21,000 7.1 November 25, 2018 35
Fast 9.3 9.3 19,000 China 1.3 November 29, 2025 39
Foot 6.8 6.8 17,000 1.0 December 13, 2025 35
2.2 Perceptual Map
Speed
A cc u ra cy
AbleAbleAble
BakerBakerBaker CakeCakeCake
ClackClackClack DazeDazeDaze
DartDartDart
DellDellDell
EatEatEat
FastFastFast
FootFootFoot
0 2 4 6 8 10 12 14 16 18 20 0
2
4
6
8
10
12
14
16
18
20
Section 3 | Marketing - United States of America: Low Tech
3 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Price $15.00 - $35.00 55%
Age 3 Years 19%
Positioning Speed 6.8 Accuracy 6.8 17%
Service Life 14,000 - 20,000 Hours 9%
3 . 2 Dema n d I n f o r ma t io n
2025 Total Market Size 7,371
2025 Total Units Sold 7,371
2026 Demand Growth Rate 6%
3.3 USA Market Share
AndrewsAndrews 11.6 %11.6 % Andrews 11.6 %
BaldwinBaldwin 25.6 %25.6 % Baldwin 25.6 %
ChesterChester 36.2 %36.2 % Chester 36.2 %
DigbyDigby 3.6 %3.6 % Digby 3.6 %
ErieErie 8.9 %8.9 % Erie 8.9 %
FerrisFerris 14.1 %14.1 % Ferris 14.1 %
Andrews Baldwin Chester Digby Erie Ferris
3.4 Actual vs. Potential Units Sold
853
1891
2668
264
653
1042
773
1710
2871
240
592
1185
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
500
1000
1500
2000
2500
3000
3500
3 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Cake $24.00 22-Dec-2025 2,484 2,695 Yes 1.3 7.2 7.2 $2,000 73% $1,400 100% Yes 26 31
Baker $34.00 30-Oct-2024 1,891 1,710 No 3.1 6.3 6.3 $3,000 76% $1,400 100% No 90 26
Able $35.00 8-Apr-2025 853 773 No 2.5 8 8.6 $2,700 73% $2,500 100% Yes 53 15
Eat $32.00 25-Nov-2018 653 592 No 7.1 6.4 6.4 $1,000 27% $1,000 63% No 35 8
Foot $29.00 13-Dec-2025 635 743 Yes 1 6.8 6.8 $1,250 56% $1,250 54% No 31 13
Fast $33.50 29-Nov-2025 407 442 Yes 1.3 9.3 9.3 $1,450 56% $1,450 91% No 10 1
Dart $40.00 7-Aug-2025 262 238 No 1 7.7 7.9 $2,000 41% $2,000 86% Yes 27 3
Clack $40.00 29-Dec-2025 185 176 No 0.9 9.3 9.3 $2,000 73% $1,650 100% Yes 11 1
Dell $40.00 26-Aug-2025 2 2 No 0.3 9.5 9.5 $2,000 41% $2,000 70% Yes 9 0
Section 4 | Marketing - United States of America: High Tech
4 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Positioning Speed 10.2 Accuracy 10.2 39%
Age 0 Years 32%
Service Life 17,000 - 23,000 Hours 19%
Price $25.00 - $45.00 10%
4 . 2 Dema n d I n f o r ma t io n
2025 Total Market Size 5,210
2025 Total Units Sold 5,210
2026 Demand Growth Rate 13%
4.3 USA Market Share
AndrewsAndrews 10.8 %10.8 % Andrews 10.8 %
BaldwinBaldwin 4.7 %4.7 % Baldwin 4.7 %
ChesterChester 16.2 %16.2 % Chester 16.2 %
DigbyDigby 58.3 %58.3 % Digby 58.3 %
ErieErie 1.6 %1.6 % Erie 1.6 %
FerrisFerris 8.4 %8.4 % Ferris 8.4 %
Andrews Baldwin Chester Digby Erie Ferris
4.4 Actual vs. Potential Units Sold
560
243
843
3043
82
439 551
240
867
2996
81
475
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
500
1000
1500
2000
2500
3000
3500
4 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Daze $45.00 25-Aug-2025 1,825 1,798 No 1.4 9.8 10 $2,000 84% $2,000 100% Yes 93 78
Clack $40.00 29-Dec-2025 714 729 No 0.9 9.3 9.3 $2,000 76% $1,650 100% Yes 56 49
Dart $40.00 7-Aug-2025 646 636 No 1 7.7 7.9 $2,000 84% $2,000 86% Yes 28 25
Dell $40.00 26-Aug-2025 571 561 No 0.3 9.5 9.5 $2,000 84% $2,000 70% Yes 79 60
Able $35.00 8-Apr-2025 560 551 No 2.5 8 8.6 $2,700 74% $2,500 100% Yes 17 18
Fast $33.50 29-Nov-2025 416 443 Yes 1.3 9.3 9.3 $1,450 41% $1,450 91% No 38 28
Baker $34.00 30-Oct-2024 243 240 No 3.1 6.3 6.3 $3,000 51% $1,400 100% No 12 4
Cake $24.00 22-Dec-2025 129 137 Yes 1.3 7.2 7.2 $2,000 76% $1,400 100% Yes 16 9
Eat $32.00 25-Nov-2018 82 81 No 7.1 6.4 6.4 $1,000 24% $1,000 63% No 5 2
Foot $29.00 13-Dec-2025 23 32 Yes 1 6.8 6.8 $1,250 41% $1,250 54% No 16 9
Section 5 | Marketing - Germany: Low Tech
5 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Price €15.00 - €35.00 50%
Positioning Speed 6.8 Accuracy 6.8 21%
Age 3 Years 15%
Service Life 14,000 - 20,000 Hours 14%
5 . 2 Dema n d I n f o r ma t io n
FX Rate $1.00$ : €1.10EUR
2025 Total Market Size 1,889
2025 Total Units Sold 1,550
2026 Demand Growth Rate 20%
5.3 Germany Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby Erie Ferris
5.4 Actual vs. Potential Units Sold
0 0 0 0 0
1550
0 0 0 0 0
1889
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
500
1000
1500
2000
5 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Foot €28.50 13-Dec-2025 1,228 1,342 Yes 1 6.8 6.8 $1,250 34% $1,000 58% No 39 15
Fast €34.00 29-Nov-2025 322 547 Yes 1.3 9.3 9.3 $1,150 34% $1,150 51% No 13 1
Section 6 | Marketing - Germany: High Tech
6 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Positioning Speed 10.2 Accuracy 10.2 43%
Age 0 Years 33%
Service Life 17,000 - 23,000 Hours 16%
Price €25.00 - €45.00 8%
6 . 2 Dema n d I n f o r ma t io n
FX Rate $1.00$ : €1.10EUR
2025 Total Market Size 2,481
2025 Total Units Sold 1,834
2026 Demand Growth Rate 35%
6.3 Germany Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby Erie Ferris
6.4 Actual vs. Potential Units Sold
0 0 0 0 0
1834
0 0 0 0 0
2481
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
500
1000
1500
2000
2500
3000
6 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Fast €34.00 29-Nov-2025 1,699 2,312 Yes 1.3 9.3 9.3 $1,150 13% $1,150 51% No 39 18
Foot €28.50 13-Dec-2025 135 169 Yes 1 6.8 6.8 $1,250 13% $1,000 58% No 16 7
Section 7 | Marketing - China: Low Tech
7 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Price ¥100.00 - ¥240.00 60%
Age 3 Years 14%
Positioning Speed 6.8 Accuracy 6.8 14%
Service Life 14,000 - 20,000 Hours 12%
7 . 2 Dema n d I n f o r ma t io n
FX Rate $1.00$ : ¥6.30CNY
2025 Total Market Size 3,638
2025 Total Units Sold 2,765
2026 Demand Growth Rate 45%
7.3 China Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby Erie Ferris
7.4 Actual vs. Potential Units Sold
0 0 0 0 0
2765
0 0 0 0 0
3638
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
1000
2000
3000
4000
7 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Fast ¥212.00 29-Nov-2025 2,765 3,638 Yes 1.3 9.3 9.3 $1,350 28% $1,250 78% Yes 16 2
Section 8 | Marketing - China: High Tech
8 . 1 Cu st o mer B u y in g Cr it er ia
Expectations Importance
Positioning Speed 10.2 Accuracy 10.2 41%
Age 0 Years 28%
Service Life 17,000 - 23,000 Hours 20%
Price ¥170.00 - ¥305.00 11%
8 . 2 Dema n d I n f o r ma t io n
FX Rate $1.00$ : ¥6.30CNY
2025 Total Market Size 799
2025 Total Units Sold 607
2026 Demand Growth Rate 32%
8.3 China Market Share
AndrewsAndrews 0.0 %0.0 % Andrews 0.0 %
BaldwinBaldwin 0.0 %0.0 % Baldwin 0.0 %
ChesterChester 0.0 %0.0 % Chester 0.0 %
DigbyDigby 0.0 %0.0 % Digby 0.0 %
ErieErie 0.0 %0.0 % Erie 0.0 %
FerrisFerris 100.0 %100.0 % Ferris 100.0 %
Andrews Baldwin Chester Digby Erie Ferris
8.4 Actual vs. Potential Units Sold
0 0 0 0 0
607
0 0 0 0 0
799
Actual Potential
Andrews Baldwin Chester Digby Erie Ferris 0
200
400
600
800
1000
8 . 5 To p P r o d u ct s
Name Price Revision
Date Units
Sold Potential
Sold Stock Out
Age Speed Accuracy Sales
Budget Customer
Accessibility Promo Budget
Customer Awareness
Region Kit
Design Score
Customer Satisfaction
Fast ¥212.00 29-Nov-2025 607 799 Yes 1.3 9.3 9.3 $1,350 29% $1,250 78% Yes 40 25
Section 9 | Production 9 . 1 P r o d u ct io n P la n t L o ca t io n s
USA Germany China
Andrews, Baldwin, Chester, Digby, Erie Ferris
Production vs Capacity
9 . 2 P la n t I n f o r ma t io n
Name Primary Segment
Units Produced
Units Sold
Inventory USA
Inventory Germany
Inventory China
Auto. Next Round
Capacity Next Round
Plant Utilization
Total Plant Investment
Able High Tech 2,205 1,413 3,507 0 0 4.3 2,500 92% $0
Baker Low Tech 2,928 2,133 1,219 0 0 4 2,450 124% $0
Cake Low Tech 2,496 2,612 0 0 0 7 1,350 193% ($4,420)
Clack High Tech 936 899 59 0 0 6 500 195% ($3,900)
Dart High Tech 1,056 908 621 0 0 1.5 1,500 92% $6,000
Daze High Tech 1,608 1,825 1,334 0 0 4.5 2,800 67% $12,200
Dell High Tech 670 573 97 0 0 1.5 1,850 170% $12,200
Eat Low Tech 1,632 736 1,951 0 0 3 1,700 100% $0
Fast High Tech 5,922 6,216 0 0 0 4.9 4,000 197% $21,760
Foot Low Tech 2,021 2,021 0 0 0 4.1 2,900 195% $40,760
9 . 3 Co st s
Name Price Direct Material Direct Labor Shipping Defects Cont. Margin
Able $35.00 $12.13 $8.55 $0.00 $0.89 17.1%
Baker $34.00 $8.43 $9.77 $0.00 $0.77 39.4%
Cake $24.00 $8.89 $6.27 $0.00 $0.60 37.1%
Clack $40.00 $13.85 $7.86 $0.00 $0.85 46.3%
Dart $40.00 $11.69 $11.48 $0.00 $1.00 32.3%
Daze $45.00 $15.10 $7.65 $0.00 $0.96 42.1%
Dell $40.00 $14.61 $15.79 $0.00 $1.27 18.9%
Eat $32.00 $8.83 $10.21 $0.00 $0.81 16.5%
Fast $32.74 $12.23 $8.92 $0.67 $1.30 31.5%
Foot $26.92 $8.05 $10.05 $1.50 $1.10 26.4%
2,2052,2052,205
2,9282,9282,928
3,4323,4323,432
3,3343,3343,334
1,6321,6321,632
7,9437,9437,943
2,5002,5002,500
2,4502,4502,450
1,8501,8501,850
4,7004,7004,700
1,7001,7001,700
4,3004,3004,300
Production Capacity
Andrews
Baldwin
Chester
Digby
Erie
Ferris
0 1000 2000 3000 4000 5000 6000 7000 8000500 1500 2500 3500 4500 5500 6500 7500 8500
Section 10 | Finance 1 0 . 1 I n co me St a t emen t
Andrews Baldwin Chester Digby Erie Ferris
Sales $49,459 $72,531 $98,644 $141,386 $23,537 $257,914
Variable Costs
Direct Material $17,626 $18,474 $32,841 $45,507 $6,946 $85,892
Direct Labor $12,718 $20,994 $23,390 $35,778 $7,362 $75,966
Shipping $0 $0 $0 $0 $0 $7,298
Defects $1,264 $1,645 $2,343 $3,387 $596 $10,331
Inventory Carry $9,414 $2,819 $152 $6,068 $4,745 $0
Total Variable Costs (Labor, Material, Carry, Ship, Defect)
$41,022 $43,933 $58,726 $90,741 $19,649 $179,487
Contribution Margin $8,437 $28,598 $39,918 $50,645 $3,888 $78,426
Period Costs
Depreciation $3,867 $3,593 $4,060 $8,147 $2,040 $10,797
SG&A
R&D $268 $0 $1,968 $1,899 $0 $1,861
Promotions $2,500 $1,400 $3,050 $6,000 $1,000 $6,100
Sales $2,700 $3,000 $4,000 $6,000 $1,000 $6,450
Administration $1,148 $919 $736 $1,719 $197 $2,176
Total Period Costs $10,483 $8,912 $13,814 $23,766 $4,237 $27,385
Net Margin ($2,046) $19,686 $26,104 $26,879 ($349) $51,041
Other (Fees/Write-offs/Bonuses/Relocation Fee) $0 $102 $2,348 $1,364 $0 $2,194
EBIT ($2,046) $19,583 $23,756 $25,515 ($349) $48,847
Interest (Short term/Long Term) $13,685 $2,464 $1,682 $10,460 $1,348 $8,300
Taxes ($5,506) $5,992 $7,726 $5,269 ($594) $17,083
Pro�t Sharing $0 $223 $287 $196 $0 $527
Net Pro�t ($10,225) $10,905 $14,061 $9,590 ($1,103) $22,937
1 0 . 2 B a la n ce Sh eet
Andrews Baldwin Chester Digby Erie Ferris
Cash $0 $0 $46,626 $0 $0 $58,406
Accounts Receivable $4,065 $5,961 $8,108 $11,621 $1,935 $21,198
Inventory $78,450 $23,494 $1,267 $50,571 $39,540 $0
Total Current Assets $82,515 $29,456 $56,000 $62,191 $41,475 $79,605
Plant and Equipment $58,000 $53,900 $60,900 $122,200 $30,600 $161,960
Accumulated Depreciation ($24,467) ($22,960) ($18,769) ($29,440) ($18,360) ($33,646)
Total Fixed Assets $33,533 $30,940 $42,131 $92,760 $12,240 $128,314
Total Assets $116,048 $60,396 $98,131 $154,951 $53,715 $207,919
Accounts Payable $3,981 $4,631 $4,735 $6,927 $2,700 $14,200
Current Debt $75,711 $10,536 $0 $49,575 $8,186 $34,078
Long-Term Debt $21,200 $10,673 $20,083 $35,065 $5,600 $61,032
Total Liabilities $100,892 $25,839 $24,818 $91,567 $16,486 $109,310
Common Stock $7,537 $4,861 $23,638 $11,342 $4,937 $18,601
Retained Earnings $7,620 $29,695 $49,675 $52,042 $32,291 $80,008
Total Equity $15,156 $34,556 $73,313 $63,384 $37,228 $98,609
Total Liabilities & Owners Equity $116,048 $60,396 $98,131 $154,951 $53,715 $207,919
1 0 . 3 Ca sh F lo w St a t emen t
Andrews Baldwin Chester Digby Erie Ferris
Starting Cash Position $0 $0 $25,798 $0 $12,584 $29,899
Cash From Operations
Net Income(Loss) ($10,225) $10,905 $14,061 $9,590 ($1,103) $22,937
Adjustment For Non-Cash Items
Depreciation $3,867 $3,593 $4,060 $8,147 $2,040 $10,797
Extraordinary Gains/Losses/Write-offs $0 $39 $2,219 ($7) $0 $0
Changes In Current Assets And Liabilities
Accounts Payable ($1,795) ($708) $146 ($1,809) ($41) $3,406
Inventory ($16,824) ($15,232) $963 $392 ($17,943) $6,716
Accounts Receivable ($103) $22 ($340) ($4,337) $10 ($5,899)
Net Cash From Operations ($25,081) ($1,381) $21,108 $11,977 ($17,037) $37,958
Cash From Investing
Net Plant Improvements $0 $0 $8,320 ($30,400) $0 ($62,520)
Cash From Financing
Dividends Paid $0 ($1,977) $0 $0 $0 $0
Sales Of Common Stock $0 $0 $0 $5,700 $0 $12,559
Purchase Of Common Stock $0 ($400) ($1,500) ($1,400) $0 $0
Cash From Long-Term Debt Issued $0 $0 $0 $20,500 $0 $31,320
Early Retirement Of Long-Term Debt $0 ($3,800) ($7,100) ($2,700) $0 $0
Retirement Of Current Debt ($47,097) ($2,978) $0 ($53,252) $0 ($19,042)
Cash From Current Debt Borrowing $0 $0 $0 $7,000 $0 $30,344
Cash From Emergency Loan $72,178 $10,536 $0 $42,575 $4,453 $0
Net Cash From Financing $25,081 $1,381 ($8,600) $18,423 $4,453 $55,181
Effect Of Exchange Rates $0 $0 $0 $0 $0 ($2,112)
Net Change In Cash $0 $0 $20,828 $0 ($12,584) $28,507
Ending Cash Position $0 $0 $46,626 $0 $0 $58,406
1 0 . 4 B o n d Ma r ket Su mma r y
Company Series Face Value Yield Closing Price S&P Rating
Andrews 11.0S2027 10.0S2034
$5,600,000 $15,600,000
11.06% 10.77%
$99.49 $92.89
DDD DDD
Baldwin 11.0S2027 8.0S2032
$5,572,508 $5,100,000
10.53% 8.21%
$104.43 $97.44
BB BB
Chester
11.0S2027 8.0S2032 8.3S2033 7.8S2034
$2,582,888 $5,100,000 $4,600,000 $7,800,000
10.24% 7.55% 7.66% 7.37%
$107.42 $105.95 $108.39 $105.89
AAA AAA AAA AAA
Digby
11.0S2027 8.0S2032 8.3S2033 8.1S2034
10.4S2035
$5,465,282 $3,500,000 $3,000,000 $2,600,000
$20,500,000
10.85% 8.95% 9.23% 9.2%
10.27%
$101.38 $89.36 $89.94 $88.00
$101.22
CC CC CC CC CC
Erie 11.0S2027 $5,600,000 10.31% $106.66 AA
Ferris
11.0S2027 8.0S2032 8.5S2033 9.2S2034 9.2S2035
$5,600,000 $102,150
$10,329,850 $13,679,945 $31,320,271
10.72% 8.64% 8.99% 9.37% 9.38%
$102.62 $92.58 $94.57 $98.24 $98.12
CCC CCC CCC CCC CCC
Next Year's Prime Rate: 5%
1 0 . 5 St o ck Ma r ket Su mma r y
Company Closing Price Change Shares Outstanding Market Cap Book Value EPS Dividend Yield P/E
Andrews $1.00 $0.00 2,214,047 $2m $6.85 ($4.62) $0.00 0% -0.22
Baldwin $32.24 $14.82 1,977,032 $64m $17.48 $5.52 $1.00 3.1% 5.84
Chester $49.81 $12.53 2,903,596 $145m $25.25 $4.84 $0.00 0% 10.29
Digby $23.31 $8.96 2,318,660 $54m $27.34 $4.14 $0.00 0% 5.64
Erie $15.18 ($11.32) 2,000,000 $30m $18.61 ($0.55) $0.00 0% -27.53
Ferris $104.27 $16.96 2,158,409 $225m $45.69 $10.63 $0.00 0% 9.81
Finance - Charts
10.6 Stock Price
10.7 Net Pro�t
1 0 . 8 I n co me St a t emen t - USA
Andrews Baldwin Chester Digby Erie Ferris
Sales $49,459 $72,531 $98,644 $141,386 $23,537 $46,668
Variable Costs
Direct Material $17,626 $18,474 $32,841 $45,507 $6,946 $13,419
Direct Labor $12,718 $20,994 $23,390 $35,778 $7,362 $14,108
Shipping $0 $0 $0 $0 $0 $2,222
Defects $1,264 $1,645 $2,343 $3,387 $596 $1,757
Inventory Carry $9,414 $2,819 $152 $6,068 $4,745 $0
Total Variable Costs (Labor, Material, Carry, Ship, Defect)
$41,022 $43,933 $58,726 $90,741 $19,649 $31,506
Contribution Margin $8,437 $28,598 $39,918 $50,645 $3,888 $15,162
Period Costs
Depreciation $3,867 $3,593 $4,060 $8,147 $2,040 $0
SG&A
SG&A $6,616 $5,319 $9,754 $15,618 $2,197 $7,655
R&D $268 $0 $1,968 $1,899 $0 $1,861
Promotions $2,500 $1,400 $3,050 $6,000 $1,000 $2,700
Sales $2,700 $3,000 $4,000 $6,000 $1,000 $2,700
Administration $1,148 $919 $736 $1,719 $197 $394
Total Period Costs $10,483 $8,912 $13,814 $23,766 $4,237 $7,655
Net Margin ($2,046) $19,686 $26,104 $26,879 ($349) $7,507
Other (Fees/Write-offs/Bonuses/Relocation Fee) $0 $102 $2,348 $1,364 $0 $2,194
EBIT ($2,046) $19,583 $23,756 $25,515 ($349) $5,313
Interest (Short term/Long Term) $13,685 $2,464 $1,682 $10,460 $1,348 $8,300
Taxes ($5,506) $5,992 $7,726 $5,269 ($594) ($112)
Pro�t Sharing $0 $223 $287 $196 $0 $0
Net Pro�t ($10,225) $10,905 $14,061 $9,590 ($1,103) ($2,875)
20.6220.6220.62
28.728.728.7
12.1512.1512.15
111 111
13.1913.1913.19 17.4217.4217.42
32.2432.2432.24
21.0221.0221.02 19.0819.0819.08
37.2837.2837.28
49.8149.8149.81
41.6841.6841.68
52.552.552.5
23.3123.3123.31
33.733.733.7 37.1737.1737.17
26.5126.5126.51
15.1815.1815.18
48.9548.9548.95
67.5567.5567.55
87.3187.3187.31
104.27104.27104.27
Andrews Baldwin Chester Digby Erie Ferris
2021 2022 2023 2024 2025 2026 2027 2028 $0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
$110
Andrews Baldwin Chester Digby Erie Ferris $-15000
$-10000
$-5000
$0
$5000
$10000
$15000
$20000
$25000
1 0 . 9 I n co me St a t emen t - G er ma n y
Andrews Baldwin Chester Digby Erie Ferris
Sales $0 $0 $0 $0 $0 $97,781
Variable Costs
Direct Material $0 $0 $0 $0 $0 $31,259
Direct Labor $0 $0 $0 $0 $0 $31,729
Shipping $0 $0 $0 $0 $0 $5,076
Defects $0 $0 $0 $0 $0 $4,020
Inventory Carry $0 $0 $0 $0 $0 $0
Total Variable Costs (Labor, Material, Carry, Ship, Defect)
$0 $0 $0 $0 $0 $72,084
Contribution Margin $0 $0 $0 $0 $0 $25,697
Period Costs
Depreciation $0 $0 $0 $0 $0 $0
SG&A
SG&A $0 $0 $0 $0 $0 $5,375
R&D $0 $0 $0 $0 $0 $0
Promotions $0 $0 $0 $0 $0 $2,150
Sales $0 $0 $0 $0 $0 $2,400
Administration $0 $0 $0 $0 $0 $825
Total Period Costs $0 $0 $0 $0 $0 $5,375
Net Margin $0 $0 $0 $0 $0 $20,322
Other (Fees/Write-offs/Bonuses/Relocation Fee) $0 $0 $0 $0 $0 $0
EBIT $0 $0 $0 $0 $0 $20,322
Interest (Short term/Long Term) $0 $0 $0 $0 $0 $0
Taxes $0 $0 $0 $0 $0 $11,392
Pro�t Sharing $0 $0 $0 $0 $0 $179
Net Pro�t $0 $0 $0 $0 $0 $8,751
1 0 . 1 0 I n co me St a t emen t - Ch in a
Andrews Baldwin Chester Digby Erie Ferris
Sales $0 $0 $0 $0 $0 $113,465
Variable Costs
Direct Material $0 $0 $0 $0 $0 $41,215
Direct Labor $0 $0 $0 $0 $0 $30,128
Shipping $0 $0 $0 $0 $0 $0
Defects $0 $0 $0 $0 $0 $4,554
Inventory Carry $0 $0 $0 $0 $0 $0
Total Variable Costs (Labor, Material, Carry, Ship, Defect)
$0 $0 $0 $0 $0 $75,897
Contribution Margin $0 $0 $0 $0 $0 $37,567
Period Costs
Depreciation $0 $0 $0 $0 $0 $10,797
SG&A
SG&A $0 $0 $0 $0 $0 $3,558
R&D $0 $0 $0 $0 $0 $0
Promotions $0 $0 $0 $0 $0 $1,250
Sales $0 $0 $0 $0 $0 $1,350
Administration $0 $0 $0 $0 $0 $958
Total Period Costs $0 $0 $0 $0 $0 $14,355
Net Margin $0 $0 $0 $0 $0 $23,212
Other (Fees/Write-offs/Bonuses/Relocation Fee) $0 $0 $0 $0 $0 $0
EBIT $0 $0 $0 $0 $0 $23,212
Interest (Short term/Long Term) $0 $0 $0 $0 $0 $0
Taxes $0 $0 $0 $0 $0 $5,803
Pro�t Sharing $0 $0 $0 $0 $0 $348
Net Pro�t $0 $0 $0 $0 $0 $17,061
Section 11 | Custom Modules
1 1 . 1 Wo r kf o r ce Su mma r y
Andrews Baldwin Chester Digby Erie Ferris
Number of Employees 370 513 367 647 327 1,301
First Shift 370 412 190 563 327 662
Second Shift 0 101 177 84 0 639
Overtime % 0% 0% 0% 0% 0% 0%
Turnover Rate 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
New Employees 37 51 46 65 33 371
Separated Employees 153 72 0 133 0 0
Productivity Index 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
