Glow Sauna Studios

Data Based On: One affiliate-owned business (the Existing Business) for the period January 1, 2022, to March 31, 2024

* Financial performance data is provided for one (1) affiliate-owned business (the 'Existing Business') for the measurement period from January 1, 2022, to March 31, 2024 (27 months). Average Gross Revenue was calculated as the sum of total gross sales for 2022 ($504,671), 2023 ($533,075), and Q1 2024 ($212,764), divided by the total number of months (27). (504671 + 533075 + 212764) / 27 = 46315.185. Average Net Profit (proxy) was identified as 'Gross Sales Less Operating Costs/Expenses and Estimated Fees Above' from the charts. This was calculated as the sum of this figure for 2022 ($185,815), 2023 ($203,901), and Q1 2024 ($104,796), divided by the total number of months (27). (185815 + 203901 + 104796) / 27 = 18315.259. As per Note 8, this 'profit' figure does not account for other operating costs and expenses such as professional fees, depreciation, amortization, repairs and maintenance, as well as tax liabilities, administrative, and legal fees (General Notes to this Item 19, Point 3). Therefore, the calculated average net profit of $18,315 is considered an optimistic estimate and is used as the 'best_guess_profit_high'. For 'best_guess_profit_low', a conservative estimate was made by assuming that additional unspecified expenses (as noted in the document) could reduce the profit by approximately 15% of the average gross revenue. This is a heuristic estimation due to the lack of specific data for these excluded costs. (18315.259 - (46315.185 * 0.15)) = 11368.