Financial Statement Review

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ManuscriptsJune2021Financials.xlsx

Balance Sheet

Manuscripts LLC
Balance Sheet
As of June 30, 2021
As of June 30, 2021 As of June 30, 2020 (PY) Change
ASSETS
Current Assets
Bank Accounts
Checking - BofA - KML 36,538 9,042 27,496
Checking - Manuscripts 9,202 128,586 (119,385)
Checking - New Degree Press 540,480 247,679 292,802
PayPal Creator Institute (1) 318 1,427 (1,108.41)
PayPal New Degree Press (2) 80,132 35,470 44,661
Total Bank Accounts $ 666,670 $ 422,204 $ 244,466
Accounts Receivable
Accounts Receivable (A/R) 294,795 294,795
Total Accounts Receivable $ 294,795 $ - 0 $ 294,795
Other Current Assets
Deferred Expenses
A/V Production Cost Deferred Exp 10,245 10,245
Acquiring Editor (NDP) Deferred Exp 34,846 - 0 34,846
Author Coach Deferred Exp 6,264 6,264
Campaign Video Production - Deferred Exp 56,644 - 0 56,644
Copy Editor (NFP) - Deferred Exp 4,535 4,535
Cover Designers - Deferred Exp 125 125
Marketing Editor (NDP) - Deferred Exp 182,858 - 0 182,858
Paypal & Other Bank Fees - Deferred Exp 5,396 5,396
Pre-orders - Deferred Exp 6,328 - 0 6,328
Proofreading - Deferred Exp 477 477
Publishing Calls - Deferred Exp 4,204 4,204
Recording Equipment - Deferred Exp 15,493 15,493
Website Design - Deferred Expense 1,668 1,668
Total Deferred Expenses $ 329,084 $ - 0 $ 329,084
Prepaid Expenses 2,018 2,018
Undeposited Funds 599 8,572 (7,973)
Total Other Current Assets $ 331,702 $ 8,572 $ 323,130
Total Current Assets $ 1,293,167 $ 430,776 $ 862,391
TOTAL ASSETS $ 1,293,167 $ 430,776 $ 862,391
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable (A/P) (1,318) - 0 (1,318)
Total Accounts Payable $ (1,318) $ - 0 $ (1,318)
Credit Cards
Apple Account 3,171 3,171
Credit Card - KML Citi 818 1,504 (686)
Total Credit Cards $ 3,989 $ 1,504 $ 2,485
Other Current Liabilities
Accrued Expenses
Accrued Acquiring Editor 5,400 5,400
Accrued Audiobook Costs 13,500 13,500
Accrued Citations 7,300 7,300
Accrued Cover Designers - 0 - 0
Accrued Layout Editors - 0 - 0
Accrued Marketing Editor 21,697 21,697
Accrued Printing Costs 108 108
Accrued Proofreading 10,445 10,445
Accrued Refunds -Publishing Fees 11,729 11,729
Total Accrued Expenses $ 70,180 $ - 0 $ 70,180
Deferred Revenue 0
Deferred Bookstarter Deposits 145,550 17,078 128,472
Deferred Publishing Fees 1,010,053 - 0 1,010,053
Deferred Revenue AE Bridger Program 5,229 5,229
Deferred Speaker Reel Program 12,300 12,300
Total Deferred Revenue $ 1,173,132 $ 17,078 $ 1,156,054
Total Other Current Liabilities $ 1,243,312 $ 17,078 $ 1,226,234
Total Current Liabilities $ 1,245,983 $ 18,582 $ 1,227,401
Total Liabilities $ 1,245,983 $ 18,582 $ 1,227,401
Equity
Opening Balance Equity 60,798 60,798 0
Owner's Contribution 10,388 10,388 0
Owner's Draw (293,412) (184,136) (109,276)
Owner's Pay & Personal Expenses 30,000 30,000
Retained Earnings 103,490 36,024 67,466
Net Income 135,919 489,120 (353,200)
Total Equity $ 47,184 $ 412,194 $ (365,010)
TOTAL LIABILITIES AND EQUITY $ 1,293,167 $ 430,776 $ 862,391

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.&11

Profit and Loss

Manuscripts LLC
Profit and Loss
January - June, 2021
Jan - June, 2021 Jan - June, 2020 (PY) Change % Change
Income
Creator Institute
Course Fees - Editor Dues 381,281 285,087 96,194 33.74%
Total Creator Institute $ 381,281 $ 285,087 $ 96,194 33.74%
New Degree Press
AE Bridger Program 4,102 4,102
Bookstarter Deposit 84,900 105,075 (20,175) -19.20%
Publishing Fees 1,200,316 896,788 303,528 33.85%
Refunds Given (102,991) (12,040) (90,952) -755.43%
Total Publishing Fees $ 1,097,325 $ 884,749 $ 212,576 24.03%
Special Projects 718 (718) -100.00%
Total New Degree Press $ 1,097,325 $ 885,467 $ 211,858 23.93%
Sales 500 500
Sales of Product Income 14,000 14,000
Total Income $ 1,582,108 $ 1,275,629 $ 306,479 24.03%
Cost of Goods Sold
Creator Institute Costs
Author Coach 22,931 3,010 19,921 661.83%
Developmental Editor 315,047 175,019 140,027 80.01%
Personnel Exps - CI
Hourly Wages - Dev Editors 6,351 6,351
Salary & Wages - Leads 69,875 69,875
Taxes - Payroll - CI 7,729 7,729
Total Personnel Exps - CI $ 83,955 $ - 0 $ 83,955
Total Creator Institute Costs $ 421,932 $ 178,029 $ 243,903 137.00%
New Degree Press Costs
A/V Production Cost 1,806 1,806
Acquiring Editor (NDP) 19,339 16,874 2,465 14.61%
Audiobook Costs 20,113 4,000 16,113 402.83%
Author Coach-NDP 43,852 820 43,032 5247.80%
Author Support 11,847 (11,847) -100.00%
Book Jacket Editors 5,827 5,827
Campaign Assets 175 (175) -100.00%
Campaign Video Production 27,624 37,751 (10,127) -26.82%
Citations 8,065 8,065
Contractors 42,553 (42,553) -100.00%
Copy Editor (NFP) 108,998 86,749 22,249 25.65%
Cover Designers 38,466 16,875 21,590 127.94%
Distribution (40) 40 100.00%
Layout Editors 36,550 16,587 19,963 120.36%
Mailing/Shipping Costs 62,627 4,895 57,732 1179.41%
Marketing Editor (NDP) 265,865 143,316 122,549 85.51%
Pre-orders 5,927 5,791 136 2.35%
Printing Costs 126,304 99,866 26,438 26.47%
Proofreading 37,737 177 37,559 21198.44%
Publisher Rocket Software 97 (97) -100.00%
Publishing Calls 2,974 2,974
Recording Equipment 9,699 10,928 (1,229) -11.25%
Total New Degree Press Costs $ 821,770 $ 499,261 $ 322,510 64.60%
Total Cost of Goods Sold $ 1,243,703 $ 677,290 $ 566,413 83.63%
Gross Profit $ 338,405 $ 598,339 $ (259,934) -43.44%
Expenses
Advertising & Marketing
Podcast 13,743 170 13,573 7984.07%
Promotional Expenses 29,379 1,506 27,873 1851.43%
Social Media Marketing 19,722 1,148 18,574 1617.92%
Software Subscriptions 722 722
Website Design & Maintenance 3,848 1,599 2,249 140.69%
Total Advertising & Marketing $ 67,414 $ 4,422 $ 62,992 1424.44%
Office Expenses
Bank Charges & Fees
Other Bank Fees 12,581 84 12,498 14956.34%
PayPal Fees 525 14,409 (13,885) -96.36%
Upwork Fees 9 9
Total Bank Charges & Fees $ 13,115 $ 14,493 $ (1,378) -9.51%
Business License & Taxes 900 900 0 0.00%
Dues & Subscriptions 8,740 2,317 6,423 277.25%
Office Software 14,831 5,424 9,407 173.43%
Office Supplies & Expenses 4,310 123 4,187 3402.84%
Postage 439 1,047 (608) -58.07%
Telephone 3,355 1,905 1,450 76.11%
Total Office Expenses $ 45,689 $ 26,209 $ 19,480 74.33%
Personnel Expenses
Guaranteed Payment - Eric K 20,000 (20,000) -100.00%
Payroll Taxes 2,558 2,558 0 0.00%
Salary Expenses 30,000 30,000 0 0.00%
Virtual Assistants 22,357 16,403 5,954 36.30%
Total Personnel Expenses $ 54,915 $ 68,961 $ (14,046) -20.37%
Professional Fees
Accounting/CFO Fees 30,850 12,150 18,700 153.91%
Legal Fees 671 (671) -100.00%
Payroll Processing Fees 3,492 162 3,330 2053.08%
Total Professional Fees $ 34,342 $ 12,983 $ 21,359 164.51%
Travel, Meals & Entertainment
Meals & Entertainment 70 485 (415) -85.55%
Travel 56 289 (234) -80.78%
Total Travel, Meals & Entertainment $ 126 $ 774 $ (648) -83.77%
Total Expenses $ 202,486 $ 113,349 $ 89,137 78.64%
Net Operating Income $ 135,919 $ 484,990 $ (349,071) -71.97%
Other Expenses
Reconciliation Discrepancies (4,130) 4,130 100.00%
Total Other Expenses $ - 0 $ (4,130) $ 4,130 100.00%
Net Other Income $ - 0 $ 4,130 $ (4,130) -100.00%
Net Income $ 135,919 $ 489,120 $ (353,200) -72.21%

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.

P&L by cohort

Creator Institute & NDP Program
Profit and Loss
January - June, 2021
CI Fall 2020 CI Fall 2021 CI Spring 2021 CI Summer 2021 NDP A/V May 2021 NDP April 2020 NDP April 2021 NDP December 2019 NDP December 2020 NDP July 2019 NDP July 2020 Operations TOTAL
Income
Creator Institute
Course Fees - Editor Dues 25 499 171,266 209,491 381,281
Total Creator Institute $ 25 $ 499 $ 171,266 $ 209,491 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 381,281
New Degree Press
AE Bridger Program 4,102 4,102
Bookstarter Deposit 84,900 84,900
Publishing Fees 1,192,852 7,464 1,200,316
Refunds Given (102,991) 0 (102,991)
Total Publishing Fees $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 1,089,861 $ - 0 $ 7,464 $ - 0 $ - 0 $ - 0 $ 1,097,325
Total New Degree Press $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 1,178,863 $ - 0 $ 7,464 $ - 0 $ - 0 $ - 0 $ 1,186,327
Sales 500 0 500
Sales of Product Income 14,000 14,000
Total Income $ 25 $ 499 $ 171,266 $ 209,491 $ - 0 $ - 0 $ 1,193,363 $ - 0 $ 7,464 $ - 0 $ - 0 $ - 0 $ 1,582,108
Cost of Goods Sold
Creator Institute Costs
Author Coach 8,604 12,477 1,850 22,931
Developmental Editor 151,624 163,422 315,047
Personnel Exps - CI
Hourly Wages - Dev Editors 6,351 6,351
Salary & Wages - Leads 69,875 69,875
Taxes - Payroll - CI 7,729 7,729
Total Personnel Exps - CI $ - 0 $ - 0 $ 83,955 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 83,955
Total Creator Institute Costs $ 160,228 $ - 0 $ 259,854 $ 1,850 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 421,932
New Degree Press Costs
A/V Production Cost 1,806 1,806
Acquiring Editor (NDP) 19,339 19,339
Audiobook Costs 18,771 1,183 259 (99) 20,113
Author Coach-NDP 43,852 43,852
Book Jacket Editors 5,827 5,827
Campaign Video Production 27,624 27,624
Citations 8,065 8,065
Copy Editor (NFP) 108,998 - 0 108,998
Cover Designers 38,466 - 0 38,466
Layout Editors 36,550 - 0 36,550
Mailing/Shipping Costs 324 62,046 - 0 257 62,627
Marketing Editor (NDP) 265,865 265,865
Pre-orders 5,927 5,927
Printing Costs 125,962 - 0 108 234 126,304
Proofreading 37,737 37,737
Publishing Calls 2,974 2,974
Recording Equipment 9,699 9,699
Total New Degree Press Costs $ - 0 $ - 0 $ - 0 $ - 0 $ 1,806 $ 324 $ 817,699 $ 1,183 $ 259 $ 108 $ 392 $ - 0 $ 821,770
Total Cost of Goods Sold $ 160,228 $ - 0 $ 259,854 $ 1,850 $ 1,806 $ 324 $ 817,699 $ 1,183 $ 259 $ 108 $ 392 $ - 0 $ 1,243,703
Gross Profit $ (160,203) $ 499 $ (88,588) $ 207,641 $ (1,806) $ (324) $ 375,664 $ (1,183) $ 7,205 $ (108) $ (392) $ - 0 $ 338,405
Expenses
Advertising & Marketing
Podcast 13,743 13,743
Promotional Expenses 29,379 29,379
Social Media Marketing 19,722 19,722
Software Subscriptions 722 722
Website Design & Maintenance 3,848 3,848
Total Advertising & Marketing $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 67,414 $ 67,414
Office Expenses
Bank Charges & Fees
Other Bank Fees 437 65 146 - 0 11,934 12,581
PayPal Fees 37 455 - 0 32 525
Upwork Fees 15 (6) 9
Total Bank Charges & Fees $ 15 $ - 0 $ 474 $ 65 $ - 0 $ - 0 $ 601 $ - 0 $ - 0 $ - 0 $ - 0 $ 11,960 $ 13,115
Business License & Taxes 900 900
Dues & Subscriptions 8,740 8,740
Office Software 14,831 14,831
Office Supplies & Expenses 4,310 4,310
Postage 439 439
Telephone 3,355 3,355
Total Office Expenses $ 15 $ - 0 $ 474 $ 65 $ - 0 $ - 0 $ 601 $ - 0 $ - 0 $ - 0 $ - 0 $ 44,535 $ 45,689
Personnel Expenses
Payroll Taxes 2,558 2,558
Salary Expenses 30,000 30,000
Virtual Assistants 22,357 22,357
Total Personnel Expenses $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 54,915 $ 54,915
Professional Fees
Accounting/CFO Fees 30,850 30,850
Payroll Processing Fees 3,492 3,492
Total Professional Fees $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 34,342 $ 34,342
Travel, Meals & Entertainment
Meals & Entertainment 70 70
Travel 56 56
Total Travel, Meals & Entertainment $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 126 $ 126
Total Expenses $ 15 $ - 0 $ 474 $ 65 $ - 0 $ - 0 $ 601 $ - 0 $ - 0 $ - 0 $ - 0 $ 201,331 $ 202,486
Net Operating Income $ (160,218) $ 499 $ (89,062) $ 207,576 $ (1,806) $ (324) $ 375,063 $ (1,183) $ 7,205 $ (108) $ (392) $ (201,331) $ 135,919
Net Income $ (160,218) $ 499 $ (89,062) $ 207,576 $ (1,806) $ (324) $ 375,063 $ (1,183) $ 7,205 $ (108) $ (392) $ (201,331) $ 135,919

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.

Other charts

This info comes from running a P&L back to Jan 2019
Creator Institute
Summer 2019 Fall 2019 Spring 2020 Summer 2020 - Actual Fall 2020 - Actual Spring 2021 - Actual Spring 2021 - Budget Summer 2021 - Actual Summer 2021 - Budget Fall 2021 - Actual Fall 2021 - Budget
Course Fees 69,387 66,378 103,028 189,059 186,016 171,266 151,690 209,491 275,800 499 151,690
Developmental Editors 59,781 81,534 137,322 245,372 303,418 260,328 351,482 1,915 382,389 318,026
Balance 9,606 (15,156) (34,294) (56,313) (117,403) (89,062) (199,792) 207,576 (106,589) 499 (166,336)
New Degree Press
April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual April 2021- Proj Aug 2021 - Actual Aug 2021 - Proj Dec 2021 - Actual Dec 2021 - Proj
Bookstarter Deposits 25,775 30,000 152,625 (300) 67,500 81,600 49,800 59,750 66,900
Publishing Fees 446,819 459,168 951,199 1,192,851 1,305,000 1,007,453 923,000 2,600 1,376,500
Special Project 650 17,853
Refunds Given (14,752) (20,297) (77,775) (102,991) - 0
Total Revenue 457,842 468,871 1,026,699 1,107,413 1,372,500 1,089,053 972,800 62,350 1,443,400
Editors and other costs 335,490 399,134 739,709 818,300 809,775 304,953 928,483 20,286 932,012
Gross Profit 122,351 69,736 286,990 289,113 562,725 784,101 44,317 42,064 511,388

New Degree Press

Cohort Comparison

Total Revenue

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual 457841.52 468870.69999999995 1026698.94 1107412.6000000001 1089053.2 62350 Editors and other costs

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual 335490.23000000004 399134.39999999997 739708.86 818299.85 304952.63999999 996 20286.439999999999 Gross Profit

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual 122351.28999999998 69736.299999999988 286990.07999999996 289112.75000000012 784100.56 42063.56 Bookstarter Deposits

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual 25775 30000 152625.17000000001 -300 81600 59750 Publishing Fees

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual 446818.52 459167.92 951198.96 1192851.2 1007453.2 2600 Refunds Given

April 2020 - Actual July 2020 - Actual Dec 2020 - Actual Apr 2021 - Actual Aug 2021 - Actual Dec 2021 - Actual -14752 -20297.22 -77775.19 -102991.4 0

Total Operating Expenses

Trailing 12 month comparison

Total Expenses Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 June 2021 20556.769999999997 15279.689999999999 21634.699999999997 22326.559999999998 20327.46 23222.879999999997 31456.5 30540.94 31100.280000000002 30718.87 39292.19 39376.85

Creator Institute

Cohort Comparison

Course Fees

Summer 2019 Fall 2019 Spring 2020 Summer 2020 - Actual Fall 2020 - Actual Spring 2021 - Actual 69387 66378.48 103028.02 189059 186015.52 171266.24 Developmental Editors

Summer 2019 Fall 2019 Spring 2020 Summer 2020 - Actual Fall 2020 - Actual Spring 2021 - Actual 59781.25 81534.09 137322.49 245371.56 303418.23 260327.94 Balance

Summer 2019 Fall 2019 Spring 2020 Summer 2020 - Actual Fall 2020 - Actual Spring 2021 - Actual 9605.75 -15155.61 -34294.469999999987 -56312.56 -117402.70999999999 -89061.700000000012

Spring 2021 Creator Institute

Actual to Date v Budget

April 2021

Spring 2021 - Actual

Course Fees Developmental Editors Balance 171266.24 260327.94 -89061.700000000012 Spring 2021 - Budget

Course Fees Developmental Editors Balance 151690 351482.4 -199792.40000000002 Summer 2019

Course Fees Developmental Editors Balance 69387 59781.25 9605.75 Fall 2019

Course Fees Developmental Editors Balance 66378.48 81534.09 -15155.61 Spring 2020

Course Fees Developmental Editors Balance 103028.02 137322.49 -34294.469999999987 Summer 2020 - Actual

Course Fees Developmental Editors Balance 189059 245371.56 -56312.56 Fall 2020 - Actual

Course Fees Developmental Editors Balance 186015.52 303418.23 -117402.70999999999 Summer 2021 - Actual

Course Fees Developmental Editors Balance 209491.01 1914.77 207576.24000000002 Summer 2021 - Budget

Course Fees Developmental Editors Balance 275800 382389 -106589 Fall 2021 - Actual

Course Fees Developmental Editors Balance 499 499 Fall 2021 - Budget

Course Fees Developmental Editors Balance 151690 318026 -166336

NDP - April 2021

April 2021

Apr 2021 - Actual

Total Revenue Editors and other costs Gross Profit 1107412.6000000001 818299.85 289112.75000000012 April 2021- Proj

Total Revenue Editors and other costs Gross Profit 1372500 809775 562725 April 2020 - Actual

Total Revenue Editors and other costs Gross Profit 457841.52 335490.23000000004 122351.28999999998 July 2020 - Actual

Total Revenue Editors and other costs Gross Profit 468870.69999999995 399134.39999999997 69736.299999999988 Dec 2020 - Actual

Total Revenue Editors and other costs Gross Profit 1026698.94 739708.86 286990.07999999996 Aug 2021 - Actual

Total Revenue Editors and other costs Gross Profit 1089053.2 304952.63999999996 784100.56 Aug 2021 - Proj

Total Revenue Editors and other costs Gross Profit 972800 928483 44317 Dec 2021 - Actual

Total Revenue Editors and other costs Gross Profit 62350 20286.439999999999 42063.56 Dec 2021 - Proj

Total Revenue Editors and other costs Gross Profit 1443400 932012 511388

NDP - August 2021

April 2021

Aug 2021 - Actual

Total Revenue Editors and other costs Gross Profit 1089053.2 304952.63999999996 784100.56 Aug 2021 - Proj

Total Revenue Editors and other costs Gross Profit 972800 928483 44317 April 2020 - Actual

Total Revenue Editors and other costs Gross Profit 457841.52 335490.23000000004 122351.28999999998 July 2020 - Actual

Total Revenue Editors and other costs Gross Profit 468870.69999999995 399134.39999999997 69736.299999999988 Dec 2020 - Actual

Total Revenue Editors and other costs Gross Profit 1026698.94 739708.86 286990.07999999996 Apr 2021 - Actual

Total Revenue Editors and other costs Gross Profit 1107412.6000000001 818299.85 289112.75000000012 April 2021- Proj

Total Revenue Editors and other costs Gross Profit 1372500 809775 562725 Dec 2021 - Actual

Total Revenue Editors and other costs Gross Profit 62350 20286.439999999999 42063.56 Dec 2021 - Proj

Total Revenue Editors and other costs Gross Profit 1443400 932012 511388

Profit and Loss Monthly

Manuscripts LLC
Profit and Loss
July 2020 - June 2021
Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 June 2021 Total
Income
Creator Institute
Course Fees - Editor Dues 6,403 848 398 154,320 2,846 19,007 125,505 43,870 (31) (200) 1,699 210,438 565,103
Total Creator Institute $ 6,403 $ 848 $ 398 $ 154,320 $ 2,846 $ 19,007 $ 125,505 $ 43,870 $ (31) $ (200) $ 1,699 $ 210,438 $ 565,103
New Degree Press
AE Bridger Program 650 249 1,245 (1,743) (249) - 0 4,351 - 0 4,503
Bookstarter Deposit 4,347 (300) 14,078 84,900 103,025
Publishing Fees 5,696 661,955 227,353 18,991 8,064 30,156 (195) - 0 (500) 1,188,547 (1,000) 13,464 2,152,531
Refunds Given (2,712) (1,957) (11,269) (7,946) (76,900) - 0 - 0 - 0 (102,991) (203,776)
Total Publishing Fees $ 2,984 $ 661,955 $ 225,396 $ 7,721 $ 118 $ (46,744) $ (195) $ - 0 $ (500) $ 1,085,556 $ (1,000) $ 13,464 $ 1,948,755
Total New Degree Press $ 7,331 $ 661,955 $ 226,046 $ 7,970 $ 1,063 $ (34,409) $ (444) $ - 0 $ (500) $ 1,174,807 $ (1,000) $ 13,464 $ 2,056,283
Sales (500) 0 500 0
Sales of Product Income 14,000 14,000
Total Income $ 13,734 $ 662,803 $ 226,444 $ 162,290 $ 3,909 $ (15,902) $ 125,061 $ 43,870 $ (31) $ 1,174,607 $ 14,699 $ 223,902 $ 2,635,386
Cost of Goods Sold
Creator Institute Costs
Author Coach 3,448 5,460 2,650 3,550 3,560 3,484 3,075 3,405 3,855 5,552 38,039
Developmental Editor 53,339 58,194 57,353 58,791 59,185 80,220 61,832 62,522 58,626 50,461 38,354 43,252 682,129
Graphic Novels 101 101
Personnel Exps - CI
Hourly Wages - Dev Editors 950 2,266 3,136 6,351
Salary & Wages - Leads 23,292 23,292 23,292 69,875
Taxes - Payroll - CI 2,665 2,637 2,427 7,729
Total Personnel Exps - CI $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 26,906 $ 28,194 $ 28,855 $ 83,955
Total Creator Institute Costs $ 56,787 $ 58,194 $ 62,914 $ 61,441 $ 59,185 $ 83,770 $ 65,392 $ 66,006 $ 61,701 $ 80,773 $ 70,403 $ 77,658 $ 804,224
New Degree Press Costs
A/V Production Cost 206 (206) 1,806 1,806
Acquiring Editor (NDP) 8,208 4,370 2,731 1,124 11,516 7,695 19,339 54,983
Audiobook Costs 5,590 4,358 21,036 25,033 885 - 0 18,771 99 359 76,130
Author Coach-NDP 2,936 160 2,295 1,456 5,250 5,811 43,852 61,760
Book Jacket Editors - 0 5,827 5,827
Campaign Video Production 25,663 285 1,122 3,714 4,126 (1,903) 27,624 60,632
Citations 87 32 94 8,065 8,278
Copy Editor (NFP) 19,206 2,366 4,932 44,431 56,714 26,297 - 0 - 0 108,998 262,943
Cover Designers 9,901 2,721 3,593 5,683 4,991 23,818 - 0 - 0 38,466 89,172
Layout Editors 1,050 18,053 5,704 4,146 5,406 38,499 - 0 - 0 - 0 36,550 - 0 109,408
Mailing/Shipping Costs 900 845 9,349 240 265 34,864 - 0 - 0 - 0 62,370 257 - 0 109,090
Marketing Editor (NDP) 50,615 41,993 41,802 36,647 42,486 72,767 265,865 552,176
Pre-orders 4,315 533 250 2,202 (1,915) 5,927 11,312
Printing Costs 16,190 32,567 7,848 1,187 3,237 143,791 - 0 - 0 - 0 126,196 108 331,123
Proofreading 684 3,945 37,737 42,366
Publisher Rocket Software 30 (30) - 0
Publishing Calls 884 223 83 (738) 2,974 3,426
Recording Equipment 311 610 5,337 2,851 1,418 (9,595) 9,699 10,630
Total New Degree Press Costs $ 139,978 $ 108,449 $ 91,275 $ 106,343 $ 159,061 $ 364,187 $ - 0 $ 885 $ - 0 $ 820,063 $ 356 $ 467 $ 1,791,063
Total Cost of Goods Sold $ 196,765 $ 166,643 $ 154,189 $ 167,785 $ 218,246 $ 447,957 $ 65,392 $ 66,890 $ 61,701 $ 900,835 $ 70,759 $ 78,125 $ 2,595,287
Gross Profit $ (183,031) $ 496,160 $ 72,255 $ (5,495) $ (214,337) $ (463,858) $ 59,669 $ (23,020) $ (61,732) $ 273,771 $ (56,060) $ 145,777 $ 40,100
Expenses
Advertising & Marketing
Podcast 45 34 34 34 34 34 1,763 1,726 1,951 1,914 4,353 2,036 13,958
Promotional Expenses 4,407 575 4,298 3,855 590 4,446 110 110 7,125 6,638 7,865 7,531 47,549
Social Media Marketing 986 2 61 152 7,130 7,233 1,049 1,040 2,243 1,026 20,923
Software Subscriptions 250 363 109 722
Website Design & Maintenance 252 272 417 252 252 244 1,600 410 677 248 299 613 5,536
Total Advertising & Marketing $ 5,690 $ 883 $ 4,748 $ 4,141 $ 937 $ 4,876 $ 10,604 $ 9,478 $ 11,052 $ 9,841 $ 15,123 $ 11,316 $ 88,688
Office Expenses
Bank Charges & Fees
Other Bank Fees (5) 500 577 2,925 936 1,259 1,052 4,302 1,134 1,040 993 4,060 18,773
PayPal Fees 983 476 116 772 96 186 35 37 (23) 475 3,155
Upwork Fees (6) 15 9
Total Bank Charges & Fees $ 978 $ 977 $ 693 $ 3,697 $ 1,032 $ 1,445 $ 1,087 $ 4,334 $ 1,126 $ 1,515 $ 993 $ 4,060 $ 21,937
Business License & Taxes 900 900
Dues & Subscriptions 360 401 510 360 3,666 3,129 450 463 3,220 1,069 735 2,802 17,166
Office Software 1,227 552 4,143 2,132 1,381 1,348 2,096 1,359 1,376 782 6,538 2,679 25,613
Office Supplies & Expenses 145 964 15 444 454 1,136 1,071 126 265 2,473 11 365 7,468
Postage 568 231 103 18 18 18 172 136 40 75 16 1,395
Telephone 308 298 296 296 296 296 296 467 742 852 614 383 5,144
Total Office Expenses $ 3,586 $ 3,423 $ 5,760 $ 6,948 $ 6,847 $ 7,371 $ 5,172 $ 6,885 $ 6,769 $ 6,767 $ 9,792 $ 10,304 $ 79,622
Personnel Expenses
Payroll Taxes 383 383 383 383 383 383 543 486 383 383 383 383 4,853
Professional Development 97 97
Salary Expenses 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
Virtual Assistants 3,500 3,351 3,071 3,177 4,422 2,715 2,957 4,077 3,250 4,026 4,182 3,866 42,592
Total Personnel Expenses $ 8,979 $ 8,734 $ 8,453 $ 8,560 $ 9,804 $ 8,098 $ 8,499 $ 9,562 $ 8,633 $ 9,409 $ 9,565 $ 9,249 $ 107,542
Professional Fees
Accounting/CFO Fees 2,200 2,200 2,200 2,200 2,200 2,200 6,600 4,100 4,100 4,100 4,100 7,850 44,050
Payroll Processing Fees 41 41 473 478 540 678 581 516 527 603 657 608 5,744
Total Professional Fees $ 2,241 $ 2,241 $ 2,673 $ 2,678 $ 2,740 $ 2,878 $ 7,181 $ 4,616 $ 4,627 $ 4,703 $ 4,757 $ 8,458 $ 49,794
Travel, Meals & Entertainment
Meals & Entertainment 62 20 50 132
Travel 56 56
Total Travel, Meals & Entertainment $ 62 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 20 $ - 0 $ 56 $ 50 $ 187
Total Expenses $ 20,557 $ 15,280 $ 21,635 $ 22,327 $ 20,327 $ 23,223 $ 31,457 $ 30,541 $ 31,100 $ 30,719 $ 39,292 $ 39,377 $ 325,834
Net Operating Income $ (203,588) $ 480,881 $ 50,621 $ (27,821) $ (234,664) $ (487,081) $ 28,213 $ (53,561) $ (92,832) $ 243,052 $ (95,352) $ 106,400 $ (285,734)
Other Expenses
Reconciliation Discrepancies 0
Total Other Expenses $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0
Net Other Income $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0
Net Income $ (203,588) $ 480,881 $ 50,621 $ (27,821) $ (234,664) $ (487,081) $ 28,213 $ (53,561) $ (92,832) $ 243,052 $ (95,352) $ 106,400 $ (285,734)

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.

Budget v Act

Creator Institute & NDP Program
Budget vs. Actuals: FY 2021 Budget - FY21 P&L
January - June, 2021
Actual Budget Variance % of Budget
Income
Creator Institute
Course Fees - Editor Dues 381,281 386,120 (4,839) 98.75%
Returned Payments 0 0
Total Course Fees - Editor Dues $ 381,281 $ 386,120 $ (4,839) 98.75%
Total Creator Institute $ 381,281 $ 386,120 $ (4,839) 98.75%
New Degree Press
AE Bridger Program 4,102 4,102
Bookstarter Deposit 84,900 67,500 17,400 125.78%
NDP Creators Program 0
Publishing Fees 1,200,316 1,305,000 (104,684) 91.98%
Refunds Given (102,991) (102,991)
Total Publishing Fees $ 1,097,325 $ 1,305,000 $ (207,675) 84.09%
Total New Degree Press $ 1,186,327 $ 1,372,500 $ (186,173) 86.44%
Sales 500
Sales of Product Income 14,000 14,000
Total Income $ 1,582,108 $ 1,758,620 $ (176,512) 89.96%
Cost of Goods Sold
Creator Institute Costs
Author Coach 22,931 13,514 9,417 169.68%
Developmental Editor 315,047 478,784 (163,738) 65.80%
Personnel Exps - CI
Hourly Wages - Dev Editors 6,351 6,351
Salary & Wages - Leads 69,875 69,875
Taxes - Payroll - CI 7,729 7,729
Total Personnel Exps - CI $ 83,955 $ - 0 $ 83,955
Total Creator Institute Costs $ 421,932 $ 492,299 $ (70,366) 85.71%
New Degree Press Costs
A/V Production Cost 1,806 - 0 1,806
Acquiring Editor (NDP) 19,339 27,000 (7,662) 71.62%
Audiobook Costs 20,113 65,250 (45,137) 30.82%
Author Coach-NDP 43,852 22,500 21,352 194.90%
Author Support 0
Book Jacket Editors 5,827 - 0 5,827
Campaign Video Production 27,624 33,750 (6,126) 81.85%
Citations 8,065 11,250 (3,185) 71.69%
Copy Editor (NFP) 108,998 78,750 30,248 138.41%
Cover Designers 38,466 40,500 (2,035) 94.98%
Layout Editors 36,550 45,000 (8,450) 81.22%
Mailing/Shipping Costs 62,627 67,500 (4,873) 92.78%
Marketing Editor (NDP) 265,865 209,250 56,615 127.06%
Pre-orders 5,927 8,775 (2,848) 67.54%
Printing Costs 126,304 139,500 (13,196) 90.54%
Proofreading 37,737 51,750 (14,013) 72.92%
Publishing Calls 2,974 4,500 (1,526) 66.09%
Recording Equipment 9,699 4,500 5,199 215.52%
Total New Degree Press Costs $ 821,770 $ 809,775 $ 11,995 101.48%
Total Cost of Goods Sold $ 1,243,703 $ 1,302,074 $ (58,371) 95.52%
Gross Profit $ 338,405 $ 456,546 $ (118,141) 74.12%
Expenses
Advertising & Marketing
Podcast 13,743 550 13,193 2498.71%
Promotional Expenses 29,379 28,121 1,258 104.47%
Social Media Marketing 19,722 3,359 16,363 587.13%
Software Subscriptions 722 722
Website Design & Maintenance 3,848 4,697 (849) 81.92%
Total Advertising & Marketing $ 67,414 $ 36,727 $ 30,687 183.55%
Office Expenses
Bank Charges & Fees
Other Bank Fees 12,581 3,120 9,461 403.24%
PayPal Fees 525 8,784 (8,259) 5.97%
Upwork Fees 9 9
Total Bank Charges & Fees $ 13,115 $ 11,904 $ 1,211 110.17%
Business License & Taxes 900 900 - 0 100.00%
Dues & Subscriptions 8,740 5,532 3,208 157.99%
Office Software 14,831 8,346 6,485 177.70%
Office Supplies & Expenses 4,310 1,692 2,618 254.70%
Postage 439 1,032 (593) 42.55%
Telephone 3,355 1,902 1,453 176.39%
Total Office Expenses $ 45,689 $ 31,308 $ 14,381 145.93%
Personnel Expenses
Guaranteed Payment - Eric K 30,000 (30,000) 0.00%
Payroll Taxes 2,558 3,672 (1,114) 69.66%
Professional Development
Salary Expenses 30,000 45,900 (15,900) 65.36%
Virtual Assistants 22,357 18,870 3,487 118.48%
Total Personnel Expenses $ 54,915 $ 98,442 $ (43,527) 55.78%
Professional Fees
Accounting/CFO Fees 30,850 28,400 2,450 108.63%
Legal Fees 6,000 (6,000) 0.00%
Payroll Processing Fees 3,492 4,200 (708) 83.15%
Total Professional Fees $ 34,342 $ 38,600 $ (4,258) 88.97%
Travel, Meals & Entertainment
Meals & Entertainment 70 498 (428) 14.06%
Travel 56 498 (442) 11.16%
Total Travel, Meals & Entertainment $ 126 $ 996 $ (870) 12.61%
Total Expenses $ 202,486 $ 206,073 $ (3,587) 98.26%
Net Operating Income $ 135,919 $ 250,473 $ (114,554) 54.27%
Net Income $ 135,919 $ 250,473 $ (114,554) 54.27%

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.

Statement of Cash Flows

Manuscripts LLC
Statement of Cash Flows
July 2020 - June 2021
Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 June 2021 Total
OPERATING ACTIVITIES
Net Income (203,588) 480,881 50,621 (27,821) (234,664) (487,081) 28,218 (53,582) (92,818) 243,052 (95,352) 106,400 (285,734)
Adjustments to reconcile Net Income to Net Cash provided by operations:
Accounts Receivable (A/R) (56,250) 8,750 23,817 7,392 (9,786) (240,573) 126,556 23,685 (24,114) (28,038) (126,234) (294,795)
Accrued Revenue:Accrued Publishing Fees (3,240) 3,240 - 0
Deferred Expenses:A/V Production Cost Deferred Exp (1,164) (764) (622) (3,002) 812 (2,067) (3,438) (10,245)
Deferred Expenses:Acquiring Editor (NDP) Deferred Exp (5,145) (4,036) (2,981) (8,152) 935 (5,548) (9,919) (34,846)
Deferred Expenses:Audiobook Costs Deferred Exp (306) (292) (322) (77) 1,271 (275) - 0
Deferred Expenses:Author Coach Deferred Exp (3,196) (4,302) (4,187) (10,066) 21,751 (6,264) (6,264)
Deferred Expenses:Book Jacket Editors - Deferred Exp (1,000) (1,913) 5,827 (2,914) - 0
Deferred Expenses:Campaign Video Production - Deferred Exp (15,998) (6,029) (5,235) (15,739) 3,484 (6,168) (10,958) (56,644)
Deferred Expenses:Citations - Deferred Exp (113) (652) 765 (0)
Deferred Expenses:Copy Editor (NFP) - Deferred Exp (306) (8,587) (51,514) 60,407 (4,535) (4,535)
Deferred Expenses:Cover Designers - Deferred Exp (6,308) 6,308 (125) (125)
Deferred Expenses:Layout Editors - Deferred Exp (1,100) (1,300) 2,400 - 0
Deferred Expenses:Mailing/Shipping Costs - Deferred Exp (110) (837) 1,048 (101) - 0
Deferred Expenses:Marketing Editor (NDP) - Deferred Exp (4,376) (58,051) (67,207) (60,095) 147,654 (42,521) (98,263) (182,858)
Deferred Expenses:Paypal & Other Bank Fees - Deferred Exp (12) (14) (17) (54) 2 (1,416) (3,885) (5,396)
Deferred Expenses:Pre-orders - Deferred Exp (7,244) (496) (84) 1,961 (683) 140 78 (6,328)
Deferred Expenses:Printing Costs - Deferred Exp (208) (248) 455 - 0
Deferred Expenses:Proofreading - Deferred Exp (11,376) 11,376 (477) (477)
Deferred Expenses:Publisher Rocket Software - Deferred Exp (30) 30 - 0
Deferred Expenses:Publishing Calls - Deferred Exp (1,353) (702) (1,127) (1,238) 2,660 (1,097) (1,348) (4,204)
Deferred Expenses:Recording Equipment - Deferred Exp (9,668) (15) (7,666) (1,284) 9,622 (590) (5,891) (15,493)
Deferred Expenses:Website Design - Deferred Expense (400) (384) (884) (1,668)
Prepaid Expenses (3,935) (1,142) 583 358 358 358 688 358 358 (2,018)
Accounts Payable (A/P) 2,200 (2,200) - 0 - 0 3,075 (3,075) - 0 - 0 - 0 6,500 (7,818) - 0 (1,318)
Apple Account 769 2,818 1,282 (1,697) 3,171
Credit Card - KML Citi 5,496 1,046 (4,530) (1,996) 2,349 6,260 (6,920) (1,714) 597 4,599 (4,675) (1,198) (686)
Accrued Expenses 1,648 (1,648) 122,124 (58,372) (21,361) (26,879) (12,083) (3,351) (79) 0
Accrued Expenses:Accrued Acquiring Editor 5,400 5,400
Accrued Expenses:Accrued Audiobook Costs 17,500 (4,000) 13,500
Accrued Expenses:Accrued Author Coach 12,239 (9,543) (2,696) - 0
Accrued Expenses:Accrued Bank Fees 351 (189) (162) - 0
Accrued Expenses:Accrued Citations 7,300 7,300
Accrued Expenses:Accrued Copy Editor Exps 16,388 (16,313) (75) (0)
Accrued Expenses:Accrued Cover Designers 10,478 (10,478) - 0
Accrued Expenses:Accrued Layout Editors 37,850 (21,950) (15,900) - 0
Accrued Expenses:Accrued Mailing/Shipping Costs 52,560 (49,195) (3,365) - 0
Accrued Expenses:Accrued Marketing Editor 50,000 (25,588) (2,715) 21,697
Accrued Expenses:Accrued Pre-Orders 103 (103) - 0
Accrued Expenses:Accrued Printing Costs 115,604 (91,733) (23,763) 108
Accrued Expenses:Accrued Proofreading 14,500 (2,912) (1,143) 10,445
Accrued Expenses:Accrued Refunds -Publishing Fees (2,991) 102,314 (58,131) (29,462) 11,729
Accrued Expenses:Accrued Video Production 332 (332) - 0
Deferred Revenue:Deferred Bookstarter Deposits 67,500 13,200 900 (13,778) 61,800 8,100 5,100 (84,600) 54,300 15,950 128,472
Deferred Revenue:Deferred Publishing Fees 2,165 615,679 358,332 171,505 24,061 (1,138,231) 705,816 270,726 1,010,053
Deferred Revenue:Deferred Revenue AE Bridger Program 1,743 1,196 1,743 (2,608) 1,743 1,412 5,229
Deferred Revenue:Deferred Speaker Reel Program 600 11,700 12,300
Total Adjustments to reconcile Net Income to Net Cash provided by operations: $ 7,696 $ (55,756) $ 70,072 $ 31,085 $ 14,739 $ 669,843 $ 39,209 $ 185,087 $ (142,739) $ (523,629) $ 383,216 $ (77,321) $ 601,503
Net cash provided by operating activities $ (195,892) $ 425,124 $ 120,693 $ 3,264 $ (219,926) $ 182,762 $ 67,428 $ 131,506 $ (235,556) $ (280,576) $ 287,864 $ 29,079 $ 315,769
FINANCING ACTIVITIES
Owner's Draw (50,000) 30,000 (35,000) (30,000) (41) (5,220) (14) (19,000) (109,276)
Owner's Pay & Personal Expenses 30,000 30,000
Net cash provided by financing activities $ (50,000) $ 30,000 $ (35,000) $ - 0 $ - 0 $ - 0 $ (30,000) $ (41) $ (5,220) $ (14) $ 11,000 $ - 0 $ (79,276)
Net cash increase for period $ (245,892) $ 455,124 $ 85,693 $ 3,264 $ (219,926) $ 182,762 $ 37,428 $ 131,464 $ (240,777) $ (280,590) $ 298,864 $ 29,079 $ 236,493

&9These statements have not been subjected to an audit, review, or compilation and no assurance is provided. Substantially all disclosures required by accounting principles generally accepted in the United States are not included.&11