Page 67 - Strategic_Plan_finanal_jlw_PDF_NeatFlip

Section 14
2020 Operations, Capital Improvement, Acquisition and

Equity Review

Summary:

We are forecasting an increase of 50% in revenue over the 2019 figures, with a total
revenue of $68.7 million. The cost of goods is projected to be 51.42% of sales totaling $35.3
million, resulting in a gross profit of $33.3 million and an EBITDA of $17.1 million.

The growth in 2020 will be possible as a result of completing construction of 300,000 sq. ft.
of new space in Salinas and through cooler acquisitions we completed in 2017, 2018, 2019
and 2020, which will give us a combined cooler space of 749,890 sq. ft. as of December 31,
2020.

Other Income:
• We are forecasting $550,000 in revenue from PHT.

• We are forecasting $60,000 in earnings from Merrill Western of which GIC is a 50%
owner.

• We are forecasting $321,880 in revenue from Growers Custom Equipment of which
GIC is 50% owner.

New Equity: Our plan is based on raising $45,000,000 in new capital for GIC in 2020 from
the general public, investment banking, and private equity.

Use of Funds:

• $35,000,000 will be used to pay for the last 100,000 Sq. of new construction
completing our 300,000 sq. ft new cooler campus.
• $20,000,000 plus stock will be used to acquire no less than 100,000 sq. ft. of cooler
space at a location to be determined.
• $ 3,000,000 will be used to invest in our mobile fleet

Prepared for Growers Ice Company, Inc.
67
Jim White, PhD --- JL White International