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INCOME STATEMENT Current - Projected Cash Flow SECTION 3:

Projected Return and Capital Gains Schedule Exhibits
Joule Case Inc.
Joule Case/Joule Case Energy Solutions 2021 2022 2023 2024 Joule Case/Joule Case Energy Solutions 2021 2022 2023 2024

Income Statement Cash Flow

Total Revenue $ 12,079,780 $ 28,576,607 $ 42,192,779 $ 56,372,409 Cash Flow From Operating Activities
JCI Battery Sales 7,547,160 11,872,437 17,262,524 19,334,027 Net Earnings 2,566,707 9,190,560 13,938,262 19,615,471
Event Trailer Revene 4,532,620 15,864,170 23,796,255 35,694,383 Adjustments For:
Energy Arbitrage for Remaining Weeks 0 840,000 1,134,000 1,344,000 + Depreciation & Amortization 270,000 243,000 843,300 1,641,078
Cost of Events 906,524 3,172,834 4,759,251 7,138,877 Cash from operation before W/C 2,836,707 9,433,560 14,781,562 21,256,549
Cost of Battery Sales 3,773,580 5,936,219 8,631,262 9,667,013 (Increase)/Decrease in Receivables (765,588) (408,793) (559,569) (582,724)
Gross Profit $ 7,399,676 $ 19,467,555 $ 28,802,266 $ 39,566,519 (Increase)/Decrease in Inventory (465,236) (266,627) (332,265) (127,696)
Gross Margin % 61% 68% 68% 70% Increase/(Decrease) in Trade Payables 552,163 483,944 484,388 355,879
Increase/(Decrease) in Accrued & Other 20,000 200 202 204
Advertising & Marketing 550,964 914,591 1,333,028 1,538,574 Net Cash From Operating activities 2,178,046 9,242,284 14,374,318 20,902,212
Salaries and Benefits 1,678,052 3,032,507 3,576,010 4,637,352 Cash Flow From Investing Activities
General & Administration 775,453 879,388 1,285,054 1,530,425
Depreciation & Amortization 270,000 243,000 843,300 1,641,078 Borrowing (2,700,000) (3,546,000) (2,575,080) 176,422
Total Operating Expenses 3,274,470 5,069,486 7,037,392 9,347,430 Net Cash From Investing Activities (2,700,000) (3,546,000) (2,575,080) 176,422
OPEX Cash 3,004,470 4,826,486 6,194,092 7,706,352 Cash Flow From Financing Activities
Operating Profit - EBIT 4,125,206 14,398,068 21,764,874 30,219,090 Capital subscription 193,525 - - -
EBITDA 4,395,206 14,641,068 22,608,174 31,860,168 Proceed from Borrowings 2,700,000 3,546,000 2,575,080 (176,422)
EBITDA % 36% 51% 54% 57% Net Cash from Financing Activities 2,893,525 3,546,000 2,575,080 (176,422)
Interest Expenses 294,300 680,814 961,498 942,268 Net Increase/(Decrease) in cash 2,371,571 9,242,284 14,374,318 20,902,212
Earnings Before Tax - EBT 3,830,906 13,717,254 20,803,376 29,276,822 Cash at the beginning of the Period (*) - 2,371,571 11,613,855 25,988,173
Translation adjustmeents -
Income Tax 1,264,199 4,526,694 6,865,114 9,661,351 Cash at the End of the Period 2,371,571 11,613,855 25,988,173 46,890,385
Net Earnings 2,566,707 9,190,560 13,938,262 19,615,471
Net Margin % 57% 58% 59% 55%