Below we show the average annual kWh per capita for some of our target markets. From this, we can determine how many persons are served by a single array, and then estimate how many arrays will be needed for any particular market location (for example, St. Thomas USVI).
Our growth plans are to install the first array in 2014, then double the number of new arrays year-by-year thereafter. Further assuming Power Purchase Agreement financing of 80% of project cost, we reach breakeven in 2017. By doubling the new arrays, by 2018 we are solidly in the black and can self-finance the 20% down payment on each new project thereafter.
Potential investors who are interested in reviewing the detailed projections can contact Atmocean CEO Phil Kithil by email at: atmocean<dot>kithil<at>atmocean<dot>com.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
| Electricity Sales | $ - | $ 275,819 | $ 551,639 | $ 1,103,277 | $ 2,206,554 | $ 4,413,108 |
| Consulting Fees | - | 67,626 | 200,710 | 462,046 | 1,050,338 | 2,226,921 |
| Total Income | $ - | $ 343,445 | $ 752,348 | $ 1,565,323 | $ 3,256,892 | $ 6,640,029 |
| Amortization | $ - | $ 71,584 | $ 214,751 | $ 380,986 | $ 713,458 | $ 1,378,401 |
| Interest | - | 74,019 | 219,911 | 384,169 | 762,514 | 1,507,858 |
| Indirect | 310,500 | 518,957 | 800,580 | 997,747 | 1,348,004 | 1,978,439 |
| Total Expense | $ 310,500 | $ 664,559 | $ 1,235,241 | $ 1,762,903 | $ 2,823,975 | $ 4,864,699 |
| Pre Tax Net | $ (310,500) | $ (321,114) | $ (482,893) | $ (197,580) | $ 432,916 | $ 1,775,330 |