Financial Analysis: Financial Figures and Concepts IP

Impreso, Inc. Profile

652 Southwestern Blvd Coppell, TX 75019-4419 United States Phone: 1-972-462-0100 http://www.tstimpreso.com

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Table of Contents

Company Overview 1

Key Information 1

Key Financials 1

Key People 2

Industry Information 3

People 4

Employees 4

Board Members 4

Biographies 5

MARSHALL D SOROKWASZ 5

DONALD E JETT 5

JEFF BOREN 5

JOHN L GRAVES 5

SUSAN M ATKINS 5

Company Financials 7

Financial Summary 7

Annual Income Statement 8

Quarterly Income Statement 9

Annual Balance Sheet 10

Quarterly Balance Sheet 11

Annual Cash Flow 12

Quarterly Cash Flow 13

Financial Market Data 14

Historical Financials 15

Competition 16

Competitors List 16

Competitive Landscape 16

HOOVERS.COM866-541-3770 • September 14, 2021 • PAGE 1

Company Overview

652 Southwestern Blvd Coppell, TX 75019-4419 United States Phone: 1-972-462-0100 http://www.tstimpreso.com

Money is just paper to holding company Impreso. Impreso, a Spanish word meaning "printed matter," was founded in 1976. Through its primary subsidiary TST/Impreso, the company makes and distributes specialty paper and film imaging products. Its paper products include thermal fax, copier, wide-format, continuous-feed, and special surface papers, such as film transparencies. Impreso operates a number of manufacturing plants and distributes in North America through its warehouses to dealers and other resellers. Impreso owns two other subsidiaries: Hotsheet.com (provides links to popular websites), and Alexa Springs (a custom-label water bottling business). Impreso suspended its SEC reporting obligations in 2006.

Key Information

DUNS Number 021366930 Location Type Parent/Headquarters Subsidiary Status No Manufacturer Yes Company Type Publicly Traded Company - Corporation Plant/Facility Size (Square Feet) 75,000.00 Owns/Rents Accountant Total Employees 201 Employee Growth (1-5 years) 18% Employees At This Location 75 Year of Founding or Change in Control 2000 Primary Industry 1068: Commercial Printing Primary SIC Code 27610000: Manifold business forms Primary NAICS Code 323111: Commercial Printing (except Screen and

Books) Tradestyle TSTImpreso Latitude/Longitude 32.948529 / -97.009799

Key Financials

Fiscal Year-End August 2005 Sales (Actual) $77.73M 1-Year Sales Growth (25.25)% Net Income $(2,909,328.00) 1-Year Net Income Growth 0.00% Total Assets $41.79M Market Value $14.15M Prescreen Score Low Risk

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Key People

Name Title

MARSHALL D SOROKWASZ Chairman of the Board, President DONALD E JETT Secretary JEFF BOREN Vice President JOHN L GRAVES Vice President SUSAN M ATKINS Vice President

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Industry Information

Primary SIC Code 27610000: Manifold business forms

Primary NAICS Code 323111: Commercial Printing (except Screen and Books)

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People

Employees

Title Name Age Salary Bonus

Chairman of the Board, President

MARSHALL D SOROKWASZ -- $367,454.00 --

Secretary DONALD E JETT -- -- -- Vice President JEFF BOREN -- -- -- Vice President JOHN L GRAVES -- $147,093.00 -- Vice President SUSAN M ATKINS -- $131,274.00 --

Board Members

Title Name Age

Chairman of the Board, President MARSHALL SOROKWASZ -- Board Member JEFF BOREN --

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Biographies

MARSHALL D SOROKWASZ

Chairman of the Board, President, Chief Executive Officer, Treasurer

Salary: $367,454.00

Biography Marshall D. Sorokwasz, 62, is one of the founders of the Company and has been our President, Chief Executive Officer, and a Director since our organization in 1976, Treasurer since 1992, and Chairman of the Board since 1996. Prior thereto, Mr. Sorokwasz held several positions with O.E.I. Business Products of Chicago, Illinois, a manufacturer and distributor of continuous business forms.

DONALD E JETT

Secretary and Director

Biography Donald E. Jett, is also a founder of the Company and has been a Director and the Secretary of the Company since 1976. Currently, Mr. Jett is retired. From 1994 to 1999, Mr. Jett worked as a consultant to Budget Cardio, a company that sold and refurbished new and used cardiovascular exercise equipment. During 1993, Mr. Jett owned and operated Uniglobe Clocktower Travel, a travel agency in Coppell, Texas. From 1978 until May 1991, Mr. Jett served as a Vice President and a Director of Origami, Inc., a business consumable wholesaler. Prior to working at Origami, Inc., he was a regional sales manager for 11 years in a division of Scott Paper Company, with sales responsibilities for 21 states.

JEFF BOREN

Vice President

JOHN L GRAVES

Vice President, Manufacturing

Salary: $147,093.00

Biography John L. Graves was promoted to Vice President of Manufacturing in June 1986. Prior to being elected Vice President, Mr. Graves was Operations Manager with the Company since August 1981.

SUSAN M ATKINS

Chief Financial Officer, Vice President-Finance, Assistant Secretary

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Salary: $131,274.00

Biography Susan M. Atkins has been Vice President of Finance and Chief Financial Officer of the Company since December 1995, and Assistant Secretary since November 1999. Ms. Atkins was Controller of the Company prior to her election as Vice President of Finance and Chief Financial Officer.

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Company Financials

Financial Summary

Company Type Publicly Traded Company - Corporation Norwegian OTC:ZCOM Parent/Headquarters

Fiscal Year-End August 2005 Sales (Actual) $77.73M 1-Year Sales Growth (25.25)% 2005 Net Income $(2,909,328.00) 1-Year Net Income Growth 0.00% Prescreen Score Low Risk

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Annual Income Statement

All amounts in millions of US Dollars except per share amounts.

Aug 2005 Aug 2004 Aug 2003 Aug 2002 Revenue 77.73 103.99 117.22 123.07 Cost of Goods Sold 73.55 90.28 103.43 110.45 Gross Profit 4.18 13.71 13.79 12.62 Gross Profit Margin 5.38% 13.18% 11.76% 10.25% SG&A Expense 9.06 10.88 11.30 9.33 Depreciation and Amortization -- -- -- -- Operating Income (4.03) 2.83 2.49 3.29 Operating Margin (5.18%) 2.72% 2.12% 2.67% Nonoperating Income -- -- -- -- Nonoperating Expenses -- -- -- -- Income Before Taxes (4.51) (1.69) 1.02 2.73 Income Taxes (1.60) 0.67 0.40 1.05 Net Income After Taxes (2.91) 1.01 0.62 1.68

Continuing Operations (2.91) 1.01 0.62 1.68 Discontinued Operations -- -- -- -- Total Operations -- -- -- -- Total Net Income (2.91) 1.01 0.62 1.68 Net Profit Margin (3.74%) 0.97% 0.53% 1.37%

Diluted EPS from Continuing Operations -- -- -- -- Diluted EPS from Total Operations -- -- -- -- Diluted EPS from Total Net Income (0.55) 0.19 0.12 0.32 Dividends Per Share -- -- -- --

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Quarterly Income Statement

All amounts in millions of US Dollars except per share amounts.

Quarter Ending May 2006 Feb 2006 Nov 2005 Aug 2005 May 2005 Revenue 17.84 16.12 17.84 19.29 19.83 Cost of Goods Sold 15.74 14.88 16.24 17.77 18.73 Gross Profit 2.10 1.24 1.60 1.52 1.10 Gross Profit Margin 11.77% 7.69% 8.97% 7.88% 5.55% SG&A Expense 1.88 1.91 1.84 2.33 2.22 Depreciation and Amortization -- -- -- -- -- Operating Income 0.26 (0.63) (0.18) (0.39) (1.08) Operating Margin 1.46% (3.91%) (1.01%) (2.02%) (5.45%) Nonoperating Income -- -- -- -- -- Nonoperating Expenses -- -- -- -- -- Income Before Taxes (0.07) (0.90) (0.51) (0.74) (0.85) Income Taxes (0.01) (0.28) (0.17) (0.37) (0.27) Net Income After Taxes (0.05) (0.62) (0.33) (0.37) (0.57)

Continuing Operations (0.05) (0.62) (0.33) (0.37) (0.57) Discontinued Operations -- -- -- -- -- Total Operations -- -- -- -- -- Total Net Income (0.05) (0.62) (0.33) (0.37) (0.57) Net Profit Margin (0.28%) (3.85%) (1.85%) (1.92%) (2.87%)

Diluted EPS from Continuing Operations -- -- -- -- -- Diluted EPS from Total Operations -- -- -- -- -- Diluted EPS from Total Net Income (0.01) (0.12) (0.06) (0.07) (0.11) Dividends Per Share -- -- -- -- --

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Annual Balance Sheet

All amounts in millions of US Dollars except per share amounts.

Assets Aug 2005 Aug 2004 Aug 2003 Aug 2002

Cash -- 0.17 0.10 0.20 Net Receivables 9.00 12.67 12.14 15.86 Inventories 16.75 22.64 28.46 34.11 Other Current Assets -- -- -- -- Total Current Assets 29.33 36.55 41.42 50.92 Net Fixed Assets 12.39 15.12 14.83 15.94 Other Noncurrent -- -- -- -- Total Assets 41.79 51.75 56.34 66.97

Shareholder's Equity Aug 2005 Aug 2004 Aug 2003 Aug 2002

Preferred Stock Equity -- -- -- -- Common Stock Equity 0.05 0.05 0.05 0.05 Total Equity 15.15 18.05 17.04 16.42 Shares Outstanding (M) 5.28 5.28 5.28 5.28

Liabilities Aug 2005 Aug 2004 Aug 2003 Aug 2002

Accounts Payable 8.18 12.71 11.10 16.30 Short-Term Debt 8.03 8.27 15.71 18.99 Other Current Liabilities -- -- -- -- Total Current Liabilities 17.97 23.83 28.70 39.00 Long-Term Debt 7.77 8.39 9.57 10.61 Other Noncurrent 0.91 1.48 -- -- Total Liabilities 26.65 33.70 39.30 50.56

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Quarterly Balance Sheet

All amounts in millions of US Dollars except per share amounts.

Assets Quarter Ending May 2006 Feb 2006 Nov 2005 Aug 2005 May 2005 Cash -- -- -- -- 0.63 Net Receivables 8.56 6.92 8.60 9.00 7.73 Inventories 15.16 15.42 15.66 16.75 20.96 Other Current Assets -- -- -- -- -- Total Current Assets 27.26 25.93 27.96 29.33 34.69 Net Fixed Assets 11.42 11.70 12.04 12.39 12.75 Other Noncurrent -- -- -- -- -- Total Assets 39.10 37.92 40.06 41.79 47.83

Shareholder's Equity Quarter Ending May 2006 Feb 2006 Nov 2005 Aug 2005 May 2005 Preferred Stock Equity -- -- -- -- -- Common Stock Equity 0.05 0.05 0.05 0.05 0.05 Total Equity 14.14 14.19 14.81 15.15 15.51 Shares Outstanding (M) 5.28 5.28 5.28 5.28 5.28

Liabilities Quarter Ending May 2006 Feb 2006 Nov 2005 Aug 2005 May 2005 Accounts Payable 8.48 7.51 7.60 8.18 9.34 Short-Term Debt 7.14 7.29 6.85 8.03 9.49 Other Current Liabilities -- -- 0.39 -- -- Total Current Liabilities 17.50 16.23 16.96 17.97 21.14 Long-Term Debt 6.98 6.97 7.57 7.77 9.18 Other Noncurrent 0.48 0.53 0.57 0.91 0.65 Total Liabilities 24.95 23.73 25.25 26.65 32.32

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Annual Cash Flow

All amounts in millions of US Dollars except per share amounts.

Aug 2005 Aug 2004 Aug 2003 Aug 2002 Cash & Cash Equivalents at Beginning of Year

0.17 0.10 0.20 0.21

Net Cash Provided by Operating Activities

0.33 10.41 4.55 5.44

Net Cash Provided by Investing Activities (0.35) (1.71) (0.33) (4.92) Net Cash Privided by Financing Activities (0.16) (8.62) (4.32) (0.53) Net Increase/Decrease in Cash & Equivalents

(0.17) 0.08 (0.11) (0.01)

Cash & Cash Equivalents at End of Year 0.00 0.17 0.10 0.20

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Quarterly Cash Flow

All amounts in millions of US Dollars except per share amounts.

Quarter Ending May 2006 Feb 2006 Nov 2005 Aug 2005 May 2005 Cash & Cash Equivalents at Beginning of Year

0.00 0.00 0.00 0.63 0.79

Net Cash Provided by Operating Activities

1.58 0.17 1.41 0.51 3.82

Net Cash Provided by Investing Activities (0.07) (0.01) (0.02) 0.54 (0.20) Net Cash Privided by Financing Activities (0.15) (0.16) (1.39) (1.67) (3.79) Net Increase/Decrease in Cash & Equivalents

-- -- -- (0.63) (0.17)

Cash & Cash Equivalents at End of Year 1.36 0.00 0.00 0.00 0.63

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Financial Market Data

Current Information

Last Close (Invalid date) -- Price/Sales Ratio 0.20 52-Week High -- Price/Book Ratio 1.01 52-Week Low -- Price/Earnings Ratio -- 60-Month Beta -- Price/Cash Flow Ratio 3.90 Market Cap $14.15M Return on Assets (6.22%) Shares Outstanding -- Return on Equity (17.53%) Dividend Rate -- Current Ratio 1.63 Dividend Yield -- Long-Term Debt/Equity 0.51 # of Institutional Holders -- % Owned by Institutions -- Latest Short Interest Ratio -- Latest Net Insider Transactions --

Growth 12 Month 36 Month 60 Month

Revenue Growth (25.25%) (14.20%) 0.96% EPS Growth -- -- -- Dividend Growth -- -- --

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Historical Financials

Income Statement

Year Revenue ($M) Net Income ($M) Net Profit Margin

Aug 2005 77.73 (2.91) (3.74)% Aug 2004 103.99 1.01 0.97% Aug 2003 117.22 0.62 0.53% Aug 2002 123.07 1.68 1.36%

2005 Year-End Financials

Debt Ratio 51.33% Return on Equity (17.53%) Cash ($M) -- Current Ratio 1.63 Long-Term Debt ($M) 7.77 Shares Outstanding (M) -- Dividend Yield -- Dividend Payout -- Market Cap ($M) 14.15

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Competitors List

Company Gross Revenue Employees

Altaba Inc. $332.80M 8,500 Georgia-Pacific LLC $17,229.97M 46,270 International Paper Company $20,580.00M 49,300 Paris Corporation of New Jersey $80.00M 90 SPICERS LIMITED $217.32M

Competitive Landscape

Companies listed are Top Competitors.

Key Numbers Impreso, Inc. Annual Sales ($M) $77.73M Employees 201 Market Cap ($M) $14.15M

Profitability Impreso, Inc. Gross Profit Margin 5.37% Pre-Tax Profit (5.80%) Net Profit Margin (3.74%) Return on Equity (17.53%) Return on Assets (6.22%) Return on Invested Capital (8.86%)

Valuation Impreso, Inc. Price/Sales Ratio 0.20 Price/Earnings Ratio -- Price/Book Ratio 1.01 Price/Cash Flow 3.90

Operations Impreso, Inc. Days of Sales Outstanding 50.9 Inventory Turnover 3.7 Days of Cost of Goods Sold in Inventory 97.8 Asset Turnover 1.7 Net Receivables Turnover Flow 7.2 Effective Tax Rate --

Financial Impreso, Inc. Current Ratio 1.63 Quick Ratio 0.57 Leverage Ratio 2.76 Total Debt/Equity 1.04 Interest Coverage --

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Per Share Data Impreso, Inc. Earnings Per Share -$0.55 Dividend Per Share -- Cash Flow Per Share $0.69 Working Capital Per Share $1.85 Long-Term Debt Per Share -- Book Value Per Share $2.68 Total Assets Per Share $7.41

Growth Impreso, Inc. 12-Month Revenue (25.25%) 12-Month Net Income -- 12-Month EPS Growth -- 12-Month Dividend Growth -- 36-Month Revenue (14.20%) 36-Month Net Income -- 36-Month EPS Growth -- 36-Month Dividend Growth --

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