Pay and Specialty - Seaside Communications Inc., Reserve Mines

Individual Pay, Pay-per-view, Video-on-demand and Specialty Services - Financial Summary 2011-2015

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 ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 6,692,515 6,952,949 3.89 -100.00
DTH revenue 0 0
Local advertising revenue 135,058 129,771 -3.91 -100.00
National advertising revenue 0 0
Other revenue 1,163,257 1,036,976 -10.86 -100.00
Total Revenue 7,990,830 8,119,696 1.61 -100.00

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 2,292,839 2,368,079 3.28 -100.00
Technical 2,518,065 1,942,267 -22.87 -100.00
Sales and Promotion 324,974 477,897 47.06 -100.00
Administration and General 1,478,526 1,709,424 15.62 -100.00
Total Expenses 6,614,404 6,497,667 -1.76 -100.00

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,376,426 1,622,029
Depreciation 1,045,317 984,794 -5.79 -100.00
P.B.I.T. 331,109 637,235
Interest Expense 620,179 707,338 14.05 -100.00
Adjustments - Gain (Loss) 4,782,429 512,500 -89.28 0 -100.00
Pre-tax Profit 4,493,359 442,397 0

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0
Script & concept 0 0
Filler Programming + Program Production 170,878 0 -100.00
Investment in Programming 0 0
Total Canadian Programming 170,878 0 -100.00
Canadian Programming/Revenue (%) 2.14 0.00

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 1,944,014 1,988,404 2.28 -100.00
Average Staff Count 31 45 45.16 -100.00
Avg Remuneration ($) 62,710 44,187 -29.54 -100.00

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 17.2 20.0
P.B.I.T. Margin 4.1 7.8
Pre-tax Margin 56.2 5.4

CAGR = Compound Annual Growth Rate

DTH = Direct-to-Home

SMATV = Satellite Master Atenna Television

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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