GuessBox Financial Model 2017

GuessBox
Financial Model
December 4, 2017
Confidential
12/4/2017 - Confidential Page 1 of 50GuessBox - Cover Page

Worksheet Name
Summary
Key Metrics
Sales
Income Statement
Balance Sheet
Cash Flow
Staff
CapEx
Debt
Cap Table Ownership and Capitalization Table
Sales Plan and Sales Assumptions
Income Statement
Balance Sheet
Cash Flow Statement
Staffing Assumptions and Compensation Plan
Capital Expenditure and Depreciation Table
Description
Debt Assumptions
Table of Contents
Financial Model and Investor Return Summary
Key Operational and Financial Metrics
GuessBox
12/4/2017 - Confidential Page 2 of 50GuessBox - Cover Page

2016 2017 2018 2019 2020
75,002 344,116 1,088,942 3,291,072 10,224,272
1,045 1,650 2,178 2,706 3,234
73,957 342,466 1,086,764 3,288,366 10,221,038
63,581 53,202 236,730 517,154 915,939
10,376 289,264 850,034 2,771,212 9,305,099
108 735 3,941 11,870 37,748
- - - - -
10,483 289,999 853,974 2,783,082 9,342,847
10,792 290,264 857,492 2,781,212 9,310,724
14.4% 84.4% 78.7% 84.5% 91.1%
49,010 340,053 1,376,530 4,169,656 13,518,172
- - - - -
1,583 583 18,125 8,125 2,500
50,593 340,636 1,394,655 4,177,781 13,520,672
110 154 198 242 286
- - - - -
50,483 340,482 1,394,457 4,177,539 13,520,386
50,593 340,636 1,394,655 4,177,781 13,520,672
11,010 291,043 861,477 2,793,126 9,348,516
(2,000) - (25,000) - -
20,000 - 200,000 - -
29,010 291,043 1,036,477 2,793,126 9,348,516
49,010 340,053 1,376,530 4,169,656 13,518,172
Total Other Assets
Balance
Sheet
Summary
Total Assets
Total Current Liabilities
Total Long-Term Liabilities
Total Equity
Total Liabilities and Equity
Total Current Assets
Fixed Assets, Net
Cash Flow
Summary
Cash and Cash Equivalents-End
Total Cash From (For) Operating Activities
Total Cash From (For) Investing Activities
Total Cash From (For) Financing Activities
Net Increase (Decrease) In Cash
GuessBox
Income
Statement
Summary
Total Revenue
Total Direct Costs
Gross Margin
Total Operating Expenses
EBITDA (Loss)
%
USD (US Dollar)
Financial Model Summary
Operating Income (Loss)
Total Other Income
Income Taxes
Net Income (Loss)
12/4/2017 - Confidential Page 3 of 50GuessBox - Pitch Summary - GAAP

2016 2017 2018 2019 2020
225,005 1,032,348 3,266,826 9,873,215 30,672,816
274,015 1,372,401 4,643,356 14,042,871 44,190,989
- - - - -
- - - - -
274,015 1,372,401 4,643,356 14,042,871 44,190,989
- - - - -
0.0% 0.0% 0.0% 0.0% 0.0%
- - - - -
0.0x 0.0x 0.0x 0.0x 0.0x
N/A
N/A
20,000 20,000 220,000 220,000 220,000
9.1% 9.1% 20.0% 20.0% 20.0%
24,910 124,764 928,671 2,808,574 8,838,198
1.2x 6.2x 4.2x 12.8x 40.2x
325.4%
35
90.9% 90.9% 80.0% 80.0% 80.0%
249,105 1,247,638 3,714,685 11,234,297 35,352,791
Total Founders and Mgmt Ownership
Total Founders and Mgmt Equity Value
Total Common (Seed/Angel) Invested
Total Common Investor Ownership
Total Common Investor Equity Value
Common 5-Year FCF-Based IRR
Common Net Income-Based Payback (months)
GuessBox
Investor Return Summary
USD (US Dollar)
Total Common Investor Return Multiple
Return
Summary
Enterprise Value Based Upon Multiple
Total Equity Value (EV-LTD+Net Cash)
Liquidation Preference
Liquidation Preference Value
Available to Common
Total Preferred (Venture Capital) Invested
Total Preferred Ownership
Total Preferred Equity Value
Preferred Return Multiple
Preferred 5-Year FCF-Based IRR
Preferred Net Income-Based Payback (months)
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
2016 2017 2018 2019 2020
Revenue and Earnings Growth
Total Revenue EBITDA (Loss)
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
2016 2017 2018 2019 2020
Equity Value Accretion
12/4/2017 - Confidential Page 4 of 50GuessBox - Investor Return - GAAP

2016 2017 2018 2019 2020
10.0%
5.0%
-25.0%
-20.0%
85,724 391,951 1,244,904 3,781,372 11,783,982
784 1,238 1,634 2,030 2,426
84,941 390,713 1,243,270 3,779,343 11,781,556
51,122 43,710 193,127 425,490 770,184
33,818 347,003 1,050,143 3,353,852 11,011,372
108 735 3,941 11,870 37,748
- - - - -
33,926 347,739 1,054,083 3,365,723 11,049,121
34,235 348,003 1,057,601 3,363,852 11,016,997
39.9% 88.8% 85.0% 89.0% 93.5%
72,425 421,197 1,657,772 5,033,528 16,088,306
- - - - -
1,583 583 18,125 8,125 2,500
74,009 421,780 1,675,897 5,041,653 16,090,806
83 116 149 182 215
- - - - -
73,926 421,665 1,675,748 5,041,471 16,090,592
74,009 421,780 1,675,897 5,041,653 16,090,806
34,425 348,772 1,061,575 3,375,756 11,054,779
(2,000) - (25,000) - -
20,000 - 200,000 - -
52,425 348,772 1,236,575 3,375,756 11,054,779
72,425 421,197 1,657,772 5,033,528 16,088,306
Cash Flow
Summary
%
Balance
Sheet
Summary
Fixed Assets, Net
Total Other Assets
Total Assets
Total Equity
Income
Statement
Summary
Total Revenue
Total Direct Costs
Gross Margin
Net Income (Loss)
EBITDA (Loss)
Alternate
Scenario:
Price Change Across the Life of the Plan
Unit Sales Change Across the Life of the Plan
Direct Expenses Change Across the Life of the Plan
Operating Expenses Change Across the Life of the Plan
GuessBox
Financial Model Summary - Alternate Scenario
USD (US Dollar)
Total Other Income
Income Taxes
12/4/2017 - Confidential Page 5 of 50GuessBox - Pitch Summary Alt Scen - GAAP

2016 2017 2018 2019 2020
10.0%
5.0%
-25.0%
-20.0%
257,173 1,175,852 3,734,711 11,344,117 35,351,946
329,599 1,597,049 5,392,482 16,377,645 51,440,252
- - - - -
- - - - -
329,599 1,597,049 5,392,482 16,377,645 51,440,252
- - - - -
0.0% 0.0% 0.0% 0.0% 0.0%
- - - - -
0.0x 0.0x 0.0x 0.0x 0.0x
N/A
N/A
20,000 20,000 220,000 220,000 220,000
9.1% 9.1% 20.0% 20.0% 20.0%
29,964 145,186 1,078,496 3,275,529 10,288,050
1.5x 7.3x 4.9x 14.9x 46.8x
395.4%
33
90.9% 90.9% 80.0% 80.0% 80.0%
299,635 1,451,863 4,313,986 13,102,116 41,152,202
Common 5-Year FCF-Based IRR
Common Net Income-Based Payback (months)
Total Founders and Mgmt Ownership
Total Common Investor Return Multiple
Return
Summary
Enterprise Value Based Upon Multiple
Total Equity Value (EV-LTD+Net Cash)
Liquidation Preference
Liquidation Preference Value
Available to Common
Total Preferred (Venture Capital) Invested
Total Preferred Ownership
Preferred Return Multiple
Preferred 5-Year FCF-Based IRR
Preferred Net Income-Based Payback (months)
Total Common (Seed/Angel) Invested
Total Common Investor Ownership
GuessBox
Investor Return Summary - Alternate Scenario
USD (US Dollar)
Alternate
Scenario:
Price Change Across the Life of the Plan
Unit Sales Change Across the Life of the Plan
Direct Expenses Change Across the Life of the Plan
Operating Expenses Change Across the Life of the Plan
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
2016 2017 2018 2019 2020
Revenue and Earnings Growth
Total Revenue
EBITDA (Loss)
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
2016 2017 2018 2019 2020
Equity Value Accretion
12/4/2017 - Confidential Page 6 of 50GuessBox - Investor Return Alt Scen - GAAP

2016 2017 2018 2019 2020
- - - - -
- - - - -
5,796 12,996 20,196 27,396 34,596
14.610% 93.530% 69.950% 71.330% 72.880%
1,482 7,527 14,222 21,494 28,477
1 1 3 5 7
2,964 7,527 4,741 4,299 4,068
75,002 344,116 1,088,942 3,291,072 10,224,272
51 46 77 153 359
150,003 344,116 362,981 658,214 1,460,610
10,483 289,999 853,974 2,783,082 9,342,847
7 39 60 129 328
20,967 289,999 284,658 556,616 1,334,692
10,792 290,264 857,492 2,781,212 9,310,724
7 39 60 129 327
21,585 290,264 285,831 556,242 1,330,103
11,010 291,043 861,477 2,793,126 9,348,516
7 39 61 130 328
22,020 291,043 287,159 558,625 1,335,502
75,002 344,116 1,088,942 3,291,072 10,224,272
10,792 290,264 857,492 2,781,212 9,310,724
163,314 499,106 1,570,316 4,756,991 14,913,530
121,726 451,574 1,277,023 4,192,129 13,817,352
178,370 547,135 1,705,874 5,172,820 16,217,021
136,007 445,389 1,408,253 4,595,333 15,081,088
EBITDA
EBITDA/User
EBITDA/Employee
Operating Cash Flow
Operating Cash Flow/User
Operating Cash Flow/Employee
TTM Revenue
TTM EBITDA
Run-Rate Rolling Three-Month Revenue
Run-Rate Rolling Three-Month EBITDA
Run-Rate Annualized Monthly Revenue
Run-Rate Annualized Monthly EBITDA
Revenue
Revenue/User
Revenue/Employee
Net Income
Net Income/User
Net Income/Employee
GuessBox
Key Metrics
# Users
# Employees
# Users/Employee
USD (US Dollar)
# of s
Average # of Users/
# of Website Visitors
Conversion Rate
12/4/2017 - Confidential Page 7 of 50GuessBox - Key Metrics

2016 2017 2018 2019 2020
GuessBox
Key Metrics
USD (US Dollar)
9,010 291,043 836,477 2,793,126 9,348,516
- - - - -
- - - - -
- - - - -
83 136 180 224 268
- - - - -
- - - - -
28.8 30.0 30.1 30.2 30.2
(28.8) (30.0) (30.1) (30.2) (30.2)
445.5 2,208.1 6,952.2 17,230.0 47,266.3
445.5 2,208.1 6,952.2 17,230.0 47,266.3
445.5 2,208.1 6,952.2 17,230.0 47,266.3
100.1 1,889.9 4,350.9 11,541.8 32,687.1
- - - - -
- - - - -
- - - - -Total Debt/Annualized EBITDA
Free Cash Flow to Equity
Total Debt
Average Inventory
Average AR
Average AP
Days Inventory on Hand DIOH
Days Sales Outstanding DSO
Days Payables Outstanding DPO
Total Debt/TTM EBITDA
Cash Conversion Cycle (DIOH+DSO-DPO)
Current Ratio (CA/CL)
Quick Ratio ((CA-Inv)/CL)
Cash Ratio ((Cash + Securities)/CL)
Operating CF Ratio (CFO/CL)
Debt Coverage Ratio (FCF/Debt)
0
1
2
3
4
5
6
7
8
9
10
2016 2017 2018 2019 2020
Cash Flow Analysis
Free Cash Flow to Equity
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
2016 2017 2018 2019 2020
Operating Leverage Analysis
Revenue/Employee EBITDA/Employee # Users/Employee

2016 2017 2018 2019 2020
GuessBox
Key Metrics
USD (US Dollar)
(40.0)
(30.0)
(20.0)
(10.0)
-
10.0
20.0
30.0
40.0
2016 2017 2018 2019 2020
Working Capital Analysis - Days
Days Payables Outstanding DPO
Cash Conversion Cycle (DIOH+DSO-DPO)
Days Sales Outstanding DSO
Days Inventory on Hand DIOH
0
50
100
150
200
250
300
2016 2017 2018 2019 2020
Working Capital Analysis - Cash
Average Inventory
Average AP
Average AR
-
5,000.0
10,000.0
15,000.0
20,000.0
25,000.0
30,000.0
35,000.0
2016 2017 2018 2019 2020
Debt Capacity Analysis - Ratios
Operating CF Ratio (CFO/CL)
Debt Coverage Ratio (FCF/Debt)
Total Debt/TTM EBITDA
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
2016 2017 2018 2019 2020
Revenue Analysis
TTM Revenue
Run-Rate Rolling Three-Month Revenue
Run-Rate Annualized Monthly Revenue

Breakeven Analysis
GuessBox
Jun-16
First month for Net
Income Breakeven Jun-16
Net Income Breakeven EBITDA Breakeven Operating Cash Flow Breakeven
First month for
EBITDA Breakeven Jun-16
First month for
Operating Cash Flow
Breakeven
17
Number of total
offering units
required for Net
Income Breakeven
7,002
Amount of monthly
Revenue in USD (US
Dollar) required for
Net Income
Breakeven
17
7,002
Number of total
offering units
required for EBITDA
Breakeven
Amount of monthly
Revenue in USD (US
EBITDA Breakeven
17
Number of total
offering units
required for
Operating Cash Flow
Breakeven
7,002
Amount of monthly
Revenue in USD (US
Operating Cash Flow
Breakeven
-500,000
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
Breakeven Analysis
Operating Cash
Flow
EBITDA
12/4/2017 - Confidential Page 10 of 50GuessBox - Breakeven

2016 2017 2018 2019 2020
Grand Total # of New Users 1,541 7,960 15,334 23,424 31,806
Grand Total # of Users at End of Period 1,482 7,527 14,222 21,494 28,477
Less Multiple Offerings to the Same Users - - - - -
Net Total # of Users at End of Period 1,482 7,527 14,222 21,494 28,477
Grand Total Net Revenue 75,002 344,116 1,088,942 3,291,072 10,224,272
Free Trial 0.0% 0.0% 0.0% 0.0% 0.0%
GuessBox Lite 11.3% 15.2% 11.2% 5.7% 2.3%
GuessBox Pro 0.2% 0.0% 4.7% 7.0% 9.5%
GuessBox Enterprise 88.5% 84.8% 84.1% 87.3% 88.2%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0%
GuessBox
Sales Summary
USD (US Dollar)
Grand Total Users
Sales Mix Analysis (based on Net
Revenue)
12/4/2017 - Confidential Page 11 of 50GuessBox - Sales Summary

2016 2017 2018 2019 2020
GuessBox
Sales Summary
USD (US Dollar)
Total Net Revenue from New Users 71,792 320,016 1,024,361 3,168,080 9,975,723
Total Net Revenue from Existing Users 3,210 24,100 64,581 122,992 248,549
Total Cash Received 83,189 331,413 1,036,717 3,181,492 9,990,298
Total Deferred Revenue - - - - -
Total Receivable Generated - - - - -
Total Net Revenue from New Users % 95.7% 93.0% 94.1% 96.3% 97.6%
Total Net Revenue from Existing Users % 4.3% 7.0% 5.9% 3.7% 2.4%
COGS - - - - -
Direct Labor Expense (fully burdened) - - - - -
Total Direct Expense - - - - -
Revenue share expense - - - - -
Shipping & postage expense - - - - -
Lead generation expense 539 2,834 8,964 19,921 51,451
Payment processing expense 2,250 10,323 32,668 98,732 306,728
Sales commission expense - - - - -
Total Revenue Summary:
Total Expenses

2016 2017 2018 2019 2020
GuessBox
Sales Summary
USD (US Dollar)
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
2016 2017 2018 2019 2020
Grand Total Net Revenue
-
5,000
10,000
15,000
20,000
25,000
30,000
2016 2017 2018 2019 2020
Net Total # of Users at End of Period

2016 2017 2018 2019 2020
Sales Calculations:
# Total Users at Beginning of Period - - - - -
+ # New Users 1,414 7,310 13,686 20,256 25,230
- # Lost Users - - - - -
# Total Users at End of Period 1,414 7,310 13,686 20,256 25,230
x Price/each - - - - -
= Revenue - - - - -
x Revenue Share % (Billed by 3rd Party) 0% 0% 0% 0% 0%
= Revenue Share Expense - - - - -
Net Revenue - - - - -
- COGS - - - - -
- Direct Labor Expense (fully burdened) - - - - -
Gross Margin - - - - -
Gross Margin % 0.0% 0.0% 0.0% 0.0% 0.0%
GuessBox
Free Trial Sales Detail
USD (US Dollar)
12/4/2017 - Confidential Page 14 of 50GuessBox - Offering 1

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Lifetime Value (LTV) Calculations:
Monthly Net Customer Revenue - - - - -
- COGS - - - - -
- Account Mgmt and Allocated Mktng Expense - - - - -
= Monthly Customer Gross Margin - - - - -
x Customer Life (in months) 1 1 1 1 1
Customer Lifetime Contribution (GM x Life) - - - - -
- Customer Acquisition Costs (CAC)
- Lead Generation Expense - - - - -
- Revenue Share Expense - - - - -
- Sales Commission Expense - - - - -
- Sales and Allocated Mktng Expense - - - - -
= Total Customer Acquisition Costs (CAC) - - - - -
= Customer Lifetime Value (LTV) (not discounted) - - - - -
x NPV Discount Rate 99.1% 99.1% 99.1% 99.1% 99.1%
= Customer Lifetime Value (LTV (discounted) - - - - -
Customer Churn Rate N/A N/A N/A N/A N/A
LTV:CAC Ratio (LTV/CAC) N/A N/A N/A N/A N/A
Months to Recover CAC (CAC/Gross Margin) N/A N/A N/A N/A N/A

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Revenue Summary:
Total Net Revenue from New Customers - - - - -
Total Net Revenue from Existing Customers - - - - -
Total Cash Received - - - - -
Total Net Revenue from New Customers % 0.0% 0.0% 0.0% 0.0% 0.0%
Total Net Revenue from Existing Customers % 0.0% 0.0% 0.0% 0.0% 0.0%
Associated Expense Allocations:
Direct Billed Revenue Share Expense - - - - -
Lead Generation Expense - - - - -
Sales Commission Expense - - - - -
Shipping & Postage Expense - - - - -
Payment Processing Expense - - - - -
Monthly Customer Cash Economics

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Life (months)Monthly Customer Revenue -
Customer Life (months)Monthly Allocated Cash Expense -
Customer Life (months)Monthly Customer Gross Margin -
Customer Life (months)Customer Life (months) 1.00
Churn RateChurn Rate N/A
Customer Acquisition Cost (CAC)Customer Acquisition Cost (CAC) -
Customer LTV (CLTV)Customer LTV (CLTV) -
LTV:CAC RatioLTV:CAC Ratio N/A
Months to Recover CACMonths to Recover CAC N/A
Months to Recover CACType and Frequency of Billing
Billed monthly
and collected in
the same month
2016 CLTV Metrics
0
0
0
0
0
1
1
1
1
1
1
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12
Cumulative Cash CAC Cash Received Cash Expenses

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Life (months)Monthly Customer Revenue -
Customer Life (months)Monthly Allocated Cash Expense -
Customer Life (months)Monthly Customer Gross Margin -
Customer Acquisition Cost (CAC)Customer Acquisition Cost (CAC) -
Customer LTV (CLTV)Customer LTV (CLTV) -
LTV:CAC RatioLTV:CAC Ratio N/A
Months to Recover CACMonths to Recover CAC N/A
Billed monthly
and collected in
the same month
2020 LTV Metrics
0
0
0
0
0
1
1
1
1
1
1
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
-
0
0
0
0
1
1
1
1
1
1
2016 2017 2018 2019 2020
Total Net Revenue
-
5,000
10,000
15,000
20,000
25,000
30,000
2016 2017 2018 2019 2020
Total Customers

2016 2017 2018 2019 2020
Sales Calculations:
# Total Users at Beginning of Period 3 49 134 259 355
+ # New Users 108 567 1,285 1,937 2,427
- # Lost Users (61) (482) (1,160) (1,841) (2,349)
# Total Users at End of Period 49 134 259 355 433
x Price/each 49.95 49.95 49.95 49.95 49.95
= Revenue 8,450 52,413 122,138 188,718 238,594
Net Revenue 8,450 52,413 122,138 188,718 238,594
- COGS - - - - -
Gross Margin 8,450 52,413 122,138 188,718 238,594
Gross Margin % 100.0% 100.0% 100.0% 100.0% 100.0%
GuessBox
GuessBox Lite Sales Detail
USD (US Dollar)

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Monthly Net Customer Revenue 49.95 49.95 49.95 49.95 49.95
- COGS - - - - -
- Account Mgmt and Allocated Mktng Expense (0.35) - (0.35) (0.36) (0.23)
= Monthly Customer Gross Margin 49.60 49.95 49.60 49.59 49.72
Customer Lifetime Contribution (GM x Life) 99.19 99.90 99.19 99.18 99.43
- Lead Generation Expense (5.00) (5.00) (5.00) (5.00) (5.00)
- Sales and Allocated Mktng Expense (0.01) - (0.08) (0.08) (0.05)
= Total Customer Acquisition Costs (CAC) (5.01) (5.00) (5.08) (5.08) (5.05)
= Customer Lifetime Value (LTV) (not discounted) 94.18 94.90 94.12 94.10 94.38
= Customer Lifetime Value (LTV (discounted) 92.54 93.25 92.48 92.46 92.74
Customer Churn Rate 2047.7% 978.4% 868.1% 711.9% 661.4%
LTV:CAC Ratio (LTV/CAC) 18.5 18.6 18.2 18.2 18.4
Months to Recover CAC (CAC/Gross Margin) 0.1 0.1 0.1 0.1 0.1

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Revenue Summary:
Total Net Revenue from New Customers 5,382 28,312 64,189 96,773 121,240
Total Net Revenue from Existing Customers 3,068 24,100 57,949 91,945 117,353
Total Cash Received 7,180 30,111 65,988 98,571 123,038
Lead Generation Expense 539 2,834 6,425 9,687 12,136
Payment Processing Expense 254 1,572 3,664 5,662 7,158

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Life (months)Monthly Customer Revenue 49.95
Customer Life (months)Monthly Allocated Cash Expense (0.35)
Customer Life (months)Monthly Customer Gross Margin 49.60
Churn RateChurn Rate 978%
Customer Acquisition Cost (CAC)Customer Acquisition Cost (CAC) (5.01)
Customer LTV (CLTV)Customer LTV (CLTV) 92.54
LTV:CAC RatioLTV:CAC Ratio 18.5
Months to Recover CACMonths to Recover CAC 0.1
Billed monthly
and collected in
the same month
2016 CLTV Metrics
-100
0
100
200
300
400
500
600
700
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Billed monthly
and collected in
the same month
2020 LTV Metrics
-100
0
100
200
300
400
500
600
700
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
-
50,000
100,000
150,000
200,000
250,000
300,000
2016 2017 2018 2019 2020
Total Net Revenue
-
50
100
150
200
250
300
350
400
450
500
2016 2017 2018 2019 2020
Total Customers

2016 2017 2018 2019 2020
Sales Calculations:
# Total Users at Beginning of Period 2 0 0 16 62
+ # New Users - - 102 409 1,573
- # Lost Users (2) (0) (85) (364) (1,397)
# Total Users at End of Period 0 0 16 62 238
x Price/each 399.95 399.95 439.95 483.94 532.33
= Revenue 141 0 51,314 229,152 968,343
Net Revenue 141 0 51,314 229,152 968,343
- COGS - - - - -
Gross Margin 141 0 51,314 229,152 968,343
Gross Margin % 100.0% 100.0% 100.0% 100.0% 100.0%
GuessBox
GuessBox Pro Sales Detail
USD (US Dollar)

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Monthly Net Customer Revenue 399.95 399.95 439.95 483.94 532.33
- COGS - - - - -
= Monthly Customer Gross Margin 397.12 399.95 436.83 480.43 529.84
Customer Lifetime Contribution (GM x Life) 467.21 470.53 513.92 565.22 623.34
- Lead Generation Expense (25.00) (25.00) (25.00) (25.00) (25.00)
- Sales and Allocated Mktng Expense - - (0.35) (0.45) (0.32)
= Total Customer Acquisition Costs (CAC) (25.00) (25.00) (25.35) (25.45) (25.32)
= Customer Lifetime Value (LTV) (not discounted) 442.21 445.53 488.57 539.77 598.01
= Customer Lifetime Value (LTV (discounted) 437.66 440.95 483.55 534.22 591.87
Customer Churn Rate 100.0% 100.0% ############### 2254.4% 2254.4%
LTV:CAC Ratio (LTV/CAC) 17.5 17.6 19.1 21.0 23.4
Months to Recover CAC (CAC/Gross Margin) 0.1 0.1 0.1 0.1 0.0

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Revenue Summary:
Total Net Revenue from New Customers - - 44,681 198,106 837,148
Total Net Revenue from Existing Customers 141 0 6,633 31,047 131,195
Total Cash Received 9,599 9,599 55,239 209,720 849,924
Lead Generation Expense - - 2,539 10,234 39,315
Payment Processing Expense 4 0 1,539 6,875 29,050

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Billed monthly
and collected in
the same month
2016 CLTV Metrics
-1,000
0
1,000
2,000
3,000
4,000
5,000
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Billed monthly
and collected in
the same month
2020 LTV Metrics
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2016 2017 2018 2019 2020
Total Net Revenue
-
50
100
150
200
250
2016 2017 2018 2019 2020
Total Customers

2016 2017 2018 2019 2020
Sales Calculations:
# Total Users at Beginning of Period - - - - -
+ # New Users 19 83 262 821 2,576
- # Lost Users - - - - -
# Total Users at End of Period 19 83 262 821 2,576
x Price/each 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00
= Revenue 66,410 291,703 915,490 2,873,201 9,017,335
Net Revenue 66,410 291,703 915,490 2,873,201 9,017,335
- COGS - - - - -
Gross Margin 66,410 291,703 915,490 2,873,201 9,017,335
Gross Margin % 100.0% 100.0% 100.0% 100.0% 100.0%
GuessBox
GuessBox Enterprise Sales Detail
USD (US Dollar)

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Monthly Net Customer Revenue 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00
- COGS - - - - -
= Monthly Customer Gross Margin 3,475.28 3,500.00 3,475.24 3,474.64 3,483.57
Customer Lifetime Contribution (GM x Life) 3,475.28 3,500.00 3,475.24 3,474.64 3,483.57
- Lead Generation Expense - - - - -
- Sales and Allocated Mktng Expense (2.75) - (2.75) (2.82) (1.83)
= Total Customer Acquisition Costs (CAC) (2.75) - (2.75) (2.82) (1.83)
= Customer Lifetime Value (LTV) (not discounted) 3,472.53 3,500.00 3,472.49 3,471.82 3,481.75
= Customer Lifetime Value (LTV (discounted) 3,442.18 3,469.40 3,442.14 3,441.47 3,451.31
Customer Churn Rate N/A N/A N/A N/A N/A
LTV:CAC Ratio (LTV/CAC) 1,253.1 N/A 1,251.3 1,221.4 1,891.0
Months to Recover CAC (CAC/Gross Margin) 0.0 - 0.0 0.0 0.0

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Revenue Summary:
Total Net Revenue from New Customers 66,410 291,703 915,490 2,873,201 9,017,335
Total Net Revenue from Existing Customers - - - - -
Total Cash Received 66,410 291,703 915,490 2,873,201 9,017,335
Lead Generation Expense - - - - -
Payment Processing Expense 1,992 8,751 27,465 86,196 270,520

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Life (months)Monthly Customer Revenue 3,500.00
Customer Life (months)Monthly Customer Gross Margin 3,475.28
Customer LTV (CLTV)Customer LTV (CLTV) 3,442.18
LTV:CAC RatioLTV:CAC Ratio 1,253.1
Billed monthly
and collected in
the same month
2016 CLTV Metrics
-5,000
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
Customer Life (months)Monthly Customer Revenue 3,500.00
Customer Life (months)Monthly Customer Gross Margin 3,483.57
Customer LTV (CLTV)Customer LTV (CLTV) 3,451.31
LTV:CAC RatioLTV:CAC Ratio 1,891.0
Billed monthly
and collected in
the same month
2020 LTV Metrics
-5,000
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12

2016 2017 2018 2019 2020
GuessBox
USD (US Dollar)
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
2016 2017 2018 2019 2020
Total Net Revenue
-
500
1,000
1,500
2,000
2,500
3,000
2016 2017 2018 2019 2020
Total Customers

2016 2017 2018 2019 2020
75,002 344,116 1,088,942 3,291,072 10,224,272
- - - - -
- - - - -
1,045 1,650 2,178 2,706 3,234
- - - - -
- - - - -
1,045 1,650 2,178 2,706 3,234
73,957 342,466 1,086,764 3,288,366 10,221,038
1,039 2,834 49,356 148,366 262,846
59,876 39,045 147,247 260,055 340,740
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
G&A Expenses
GuessBox
Income Statement
Revenue
Total Sales and Marketing Expenses
Total R&D Expenses
COGS
Direct Costs
Total Revenue
Travel & entertainment
Outside services
Software & License fees
Computer equipment
Wages
Bonus
Employee benefits and taxes
Recruiting
Training
Direct labor
Revenue share expense
Shipping & postage expense
Gross Margin
Total Direct Costs
Server Costs
Operating Expenses
USD (US Dollar)
Communications
Shipping & postage
Dues & subscriptions
12/4/2017 - Confidential Page 38 of 50GuessBox - Income Statement - GAAP

2016 2017 2018 2019 2020
GuessBox
Income Statement
Revenue
USD (US Dollar)
- - - - -
2,250 10,323 32,668 98,732 306,728
- - - - -
- - - - -
- - - - -
- - - - -
417 1,000 7,458 10,000 5,625
2,667 11,323 40,127 108,732 312,353
63,581 53,202 236,730 517,154 915,939
10,376 289,264 850,034 2,771,212 9,305,099
108 735 3,941 11,870 37,748
10,483 289,999 853,974 2,783,082 9,342,847
- - - - -
10,483 289,999 853,974 2,783,082 9,342,847
10,792 290,264 857,492 2,781,212 9,310,724
Total Other Income
EBITDA (Loss)
Net Income (Loss)
Pre-Tax Profit (Loss)
Income Taxes
Professional Services Expenses
Other G&A Expenses
Depreciation
Amortization
Bad debt expense
Payment processing expense
Occupancy Expenses
Total G&A Expenses

2016 2017 2018 2019 2020
GuessBox
Income Statement
Revenue
USD (US Dollar)
100.0% 100.0% 100.0% 100.0% 100.0%
1.4% 0.5% 0.2% 0.1% 0.0%
98.6% 99.5% 99.8% 99.9% 100.0%
1.4% 0.8% 4.5% 4.5% 2.6%
79.8% 11.3% 13.5% 7.9% 3.3%
3.6% 3.3% 3.7% 3.3% 3.1%
84.8% 15.5% 21.7% 15.7% 9.0%
13.8% 84.1% 78.1% 84.2% 91.0%
0.1% 0.2% 0.4% 0.4% 0.4%
0.0% 0.0% 0.0% 0.0% 0.0%
14.0% 84.3% 78.4% 84.6% 91.4%
14.4% 84.4% 78.7% 84.5% 91.1%EBITDA (Loss)
Total Revenue
Total Direct Costs
Gross Margin
Net Income (Loss)
Total R&D Expenses
Total G&A Expenses
Total Other Income
Income Taxes
Total Sales and Marketing Expenses
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
2016 2017 2018 2019 2020
Revenue, Margin, and Earnings Growth
EBITDA (Loss)
Gross Margin
Total Revenue
Net Income (Loss)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2016 2017 2018 2019 2020
P&L Expense and Margin Mix Analysis
Gross Margin Total Operating Expenses Total Direct Costs

2016 2017 2018 2019 2020
49,010 340,053 1,376,530 4,169,656 13,518,172
- - - - -
- - - - -
49,010 340,053 1,376,530 4,169,656 13,518,172
- - - - -
1,583 583 18,125 8,125 2,500
50,593 340,636 1,394,655 4,177,781 13,520,672
110 154 198 242 286
- - - - -
- - - - -
- - - - -
110 154 198 242 286
- - - - -
40,000 40,000 240,000 240,000 240,000
- - - - -
10,483 300,482 1,154,457 3,937,539 13,280,386
50,483 340,482 1,394,457 4,177,539 13,520,386
50,593 340,636 1,394,655 4,177,781 13,520,672
Accounts Receivable
Accounts Payable
Bonus Accruals
Deferred Revenue
Total Assets
Liabilities and Equity
Total Other Assets
Inventory
GuessBox
Balance Sheet
Cash
Assets
USD (US Dollar)
Current Portion of LT Debt
Fixed Assets, Net
Retained Earnings
Total Equity
Common Stock
Preferred Stock
12/4/2017 - Confidential Page 41 of 50GuessBox - Balance Sheet - GAAP

2016 2017 2018 2019 2020
GuessBox
Balance Sheet
USD (US Dollar)
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
2016 2017 2018 2019 2020
Liabilities and Equity Mix Analysis
Current Liabilities Long-Term Liabilities Equity
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
2016 2017 2018 2019 2020
Assets Mix Analysis
Cash Accounts Receivable Fixed Assets, Net
Other Assets Inventory
12/4/2017 - Confidential Page 42 of 50GuessBox - Balance Sheet - GAAP

2016 2017 2018 2019 2020
10,483 289,999 853,974 2,783,082 9,342,847
417 1,000 7,458 10,000 5,625
- - - - -
- - - - -
110 44 44 44 44
11,010 291,043 861,477 2,793,126 9,348,516
(2,000) - (25,000) - -
- - - - -
20,000 - 200,000 - -
- - - - -
20,000 - 200,000 - -
29,010 291,043 1,036,477 2,793,126 9,348,516
20,000 49,010 340,053 1,376,530 4,169,656
49,010 340,053 1,376,530 4,169,656 13,518,172
Investing Activities:
Financing Activities:
GuessBox
Cash Flow Statement
Net Income (Loss)
Depreciation and Amortization
Operating Activities:
(Increase) Decrease in Accounts Receivable
(Increase) Decrease in Inventory
Increase (Decrease) in Liabilities
USD (US Dollar)
Total Proceeds (Repayment) from Loans
Proceeds from Issuance of Common Stock
Proceeds from Issuance of Preferred Stock
Cash and Cash Equivalents-Beginning
12/4/2017 - Confidential Page 43 of 50GuessBox - Cash Flow

2016 2017 2018 2019 2020
GuessBox
Cash Flow Statement
USD (US Dollar)
-50,000
0
50,000
100,000
150,000
200,000
250,000
2016 2017 2018 2019 2020
Cash Flow from Investing and Financing
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
2016 2017 2018 2019 2020
Cash Flow from Operating Activities
Total Cash From
(For) Operating…
12/4/2017 - Confidential Page 44 of 50GuessBox - Cash Flow

2016 2017 2018 2019 2020
- - - - -
- - 1.0 2.0 3.0
0.5 1.0 2.0 3.0 4.0
- - - - -
0.5 1.0 3.0 5.0 7.0
- - - - -
- - 0.1 0.2 0.3
0.1 0.0 0.1 0.2 0.3
- - - - -
0.1 0.0 0.2 0.4 0.6
- - - - -
- - 1.0 1.0 1.0
(0.5) 0.5 1.0 1.0 1.0
- - - - -
(0.5) 0.5 2.0 2.0 2.0
USD (US Dollar)
Full Time Equivalents by Type
GuessBox
Staffing and Compensation Plan
Total Full Time Equivalents (FTEs)
Total Direct Labor Staffing
Total Sales & Marketing Staffing
Total R&D Staffing
Total G&A Staffing
R&D
Sales and Marketing
Direct Labor
Employee Turnover
Total Employee Turnover
G&A
FTE Growth
Direct Labor
Sales and Marketing
R&D
G&A
Total FTE Growth
12/4/2017 - Confidential Page 45 of 50GuessBox - Staff

2016 2017 2018 2019 2020USD (US Dollar)
GuessBox
- - - - -
- - 23,333 76,667 120,000
43,750 28,167 94,640 168,730 219,348
- - - - -
43,750 28,167 117,973 245,396 339,348
- - - - -
13,125 8,450 35,392 73,619 101,805
113 108 385 424 451
1,313 845 2,839 5,062 6,580
525 325 1,400 2,950 4,050
- - - - -
- - - - -
1,050 650 3,150 7,050 9,900
- - - - -
- - - - -
- - - - -
16,126 10,378 43,166 89,105 122,786
- - - - -
- - 31,892 104,445 163,395
59,876 38,545 129,247 230,055 298,740
- - - - -
59,876 38,545 161,140 334,501 462,135
Grand Total Other Compensation Expense
Direct Labor
Total T&E Costs
Total Benefits Costs
Total Recruiting Costs
Total Training Costs
Total Dues and Subscriptions
Total Bonus at Plan Performance
Total G&A Compensation
Total Employee Base Compensation
Employee Base Compensation
Total Direct Labor Compensation
Total Sales and Marketing Compensation
Total R&D Compensation
Total Outside Services Costs
Total Software and License Fees
Grand Total Employee Costs (Base + Other Compensation)
Total Communications Services Costs
Total Computer Equipment Costs
Total Postage and Shipping Services Costs
Sales and Marketing
R&D
G&A
Grand Total Employee Costs
Other Compensation Expense

2016 2017 2018 2019 2020USD (US Dollar)
GuessBox
- - - - -
- - 31,892 54,490 54,465
68,315 47,417 73,841 76,685 79,664
- - - - -
R&D
G&A
Direct Labor
Fully-loaded cost per FTE
Sales and Marketing
0
1
2
3
4
5
6
7
8
2016 2017 2018 2019 2020
Employee Hiring Plan
Total G&A Staffing Total Sales & Marketing Staffing
Total Direct Labor Staffing Total R&D Staffing
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2016 2017 2018 2019 2020
Total Compensation Expense
R&D Direct Labor G&A Sales and Marketing

2016 2017 2018 2019 2020
- - - - -
- - - - -
- - - - -
- - - - -
2,000 - 25,000 - -
417 1,000 7,458 10,000 5,625Total Amortization
Total Depreciation
Capital Asset Depreciation
Intangible Asset Amortization
GuessBox
CapEx and Depreciation Schedule
USD (US Dollar)
Total CapEx
Total Primary CapEx
Total Replacement CapEx
CapEx
Total Intagible Asset Investment
12/4/2017 - Confidential Page 48 of 50GuessBox - CapEx

USD (US Dollar) 2016 2017 2018 2019 2020
Total amount of new debt - - - - -
Total Remaining Principal - - - - -
Total Principal Payments - - - - -
Total Interest Payments - - - - -
Total Payments - - - - -
Current Portion - - - - -
Long-Term Portion - - - - -
- - - - -
Convertible Note Principal - - - - -
Deferred Interest - - - - -
- - - - -Total Convertible Note Liability
GuessBox
Debt Assumptions
Total Senior Debt
12/4/2017 - Confidential Page 49 of 50GuessBox - Debt

# Shares
Ownership
%
Fully
Diluted %
Amount
USD (US
Dollar)
# Shares Total # Shares
Ownership
%
Fully
Diluted %
Amount
USD (US
Dollar)
# Shares Total # Shares
Ownership
%
Fully
Diluted %
Amount
USD (US
Dollar)
# Shares
Total #
Shares
Ownership
%
Fully
Diluted %
Common Founder(s) 1,000 100.0% 100.0% 1,000 80.0% 80.0% 1,000 80.0% 80.0% 1,000 80.0% 80.0%
Common
Seed
Investors
220,000 250 250 20.0% 20.0% 250 20.0% 20.0% 250 20.0% 20.0%
Preferred VC Investors - - - 0.0% 0.0% - - - 0.0% 0.0%
220,000 250 250 20.0% 20.0% - - 250 20.0% 20.0% - - 250 20.0% 20.0%
1,000 100.0% 100.0% 250 1,250 100.0% 100.0% - 1,250 100.0% 100.0% - 1,250 100.0% 100.0%
Options and
Warrants
Employees
and Advisors
- 0.0% - - 0.0% - - 0.0% - - 0.0%
1,000 100.0% 250 1,250 100.0% - 1,250 100.0% - 1,250 100.0%
880.00 880.00 -
880,000 1,100,000 -
1,100,000 1,100,000 -
Series B Venture Capital Investment and Post-Series B Options
GuessBox
Ownership and Capitalization Table
Type Affiliation
Founding and Pre-Seed Options Common Investment and Post-Seed Options Series A Venture Capital Investment and Post-Series A Options
Price per Share
Grand Total with Options
Total Founders and Equity
Total Equity Investment
Pre-Money Value
Post-Money Value
12/4/2017 - Confidential Page 50 of 50GuessBox - Cap Table

GuessBox Financial Model 2017

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