Seaside Communications Inc., Reserve Mines

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535423389 Seaside Communications Inc., Reserve Mines Seaside Communications Inc. Oceanside Communication Holdings Inc. Video-on-Demand 2013

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 6,578,317 6,692,515 1.74 6,952,949 3.89 -100.00 n/a
DTH revenue 0 0 n/a 0 n/a n/a n/a
Local advertising revenue 165,318 135,058 -18.30 129,771 -3.91 -100.00 n/a
National advertising revenue 0 0 n/a 0 n/a n/a n/a
Other revenue 1,168,737 1,163,257 -0.47 1,036,976 -10.86 -100.00
Total Revenue 7,912,372 7,990,830 0.99 8,119,696 1.61 -100.00 n/a

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 281,517 2,292,839 714.46 2,368,079 3.28 -100.00 n/a
Technical 3,703,668 2,518,065 -32.01 1,942,267 -22.87 -100.00 n/a
Sales and Promotion 250,480 324,974 29.74 477,897 47.06 -100.00 n/a
Administration and General 1,618,176 1,478,526 -8.63 1,709,424 15.62 -100.00 n/a
Total Expenses 5,853,841 6,614,404 12.99 6,497,667 -1.76 -100.00 n/a

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 2,058,531 1,376,426 1,622,029
Depreciation 967,653 1,045,317 8.03 984,794 -5.79 -100.00 n/a
P.B.I.T. 1,090,878 331,109 637,235
Interest Expense 667,101 620,179 -7.03 707,338 14.05 -100.00
Adjustments - Gain (Loss) 512,500 4,782,429 833.16 512,500 -89.28 0 -100.00 n/a
Pre-tax Profit 936,277 4,493,359 442,397 0

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 0 0 n/a 0 n/a n/a n/a
Script & concept 0 0 n/a 0 n/a n/a n/a
Filler Programming + Program Production 0 170,878 n/a 0 -100.00 n/a n/a
Investment in Programming 0 0 n/a 0 n/a n/a n/a
Total Canadian Programming 0 170,878 n/a 0 -100.00 n/a n/a
Canadian Programming/Revenue (%) 0.00 2.14 0.00

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,635,097 1,944,014 18.89 1,988,404 2.28 -100.00 n/a
Total Staff Count 30 31 3.33 45 45.16 -100.00
Avg Remuneration 54,503 62,710 15.06 44,187 -29.54 -100.00 n/a

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 26.0 17.2 20.0
P.B.I.T. Margin 13.8 4.1 7.8
Pre-tax Margin 11.8 56.2 5.4
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