EXHIBIT 1: GOLF COURSE INDUSTRY BENCHMARK DATA- REVENUES BY SIZE OF COURSE

(2017)
Bottom quartile Lower middle Upper middle
(25°/a) (25°4 (25%)
Revenue
Low Value range:
($000) 30
High Value ($000) 266 $
Revenues and expenses
Total re‘enue 100.00
Sales of goods and services 84.10
All other revanues 15.90,-
Cost of sales (direct expenses) 17.60
Operating expenses (indirect expenses) 90.80
Total expenses 108.30
Net prolVIces --8.30

Financial ratios
Current ratio (x) 0.60
Debt to equity ratio (x) 4.10
Interest coverage ratio (x) --1.30
Gross margin (%) 79.10
Return on total assets (%) --1.90
HMARK DATA- REVENUES BY SIZE OF COURSE

Top quartile
(25%4
266 $ 586 $ 1,240
586 $ 1,240 $ 5,000
%of revenues
100.00 100.00 100.00
86.40 90.30 81.50
13.60 9.70 18.50
22.20 25.10 26.20
80.90 77.20 73.90
103.10 102.40 100.10
--3.10 --2.40 -10

0.60 0.70 0.40

3.40 2.70 2.20
0.30 0.10 0.90
74.30 72.20 67.80
0.6 0.20 1.10
EXHIBIT 2: STONE ROCK GOLF & COUNTRY CLUB INCOME STATEMENTS
(YEAR ENDED OCTOBER 31) 2014 2015
REVENUE Actual %of Sales Actual %of Sales
Memberships $ 152.957 14.20% $ 186,752 14.20%
Pro Shop 63.093 5.90% 88,915 8.80%
Green Fees / Golf Tourneys 298.565 27.80% 283,744 21.60%
Club Storage 1700 0.20% 1522 0.10%
Driving Range 7.956 0.70% 9,611 0.70%
Can Rental 97,593 9.10% 90,168 6.90%
Bar/Kitchen/Banquet Sales 418,585 38.90%
Bar Sales 322.521 0.246
Kitchen Sales 88.892 0.051
Wedding & Event Sales 191.628 0.146
Miscellaneots Sates 24.394 0.019
Hall Rental 30894 0.029 42798 0.033
Sign Sponsorship 4.5 0.004 4.75 0.004
SALES 1075840 1 1311895 1
Cost of Sales 244982 0.2277 331238 0.2525
Gross Profit 830678 0.7723 980459 0.7475
EXPENSES
Adsertising/Promotion 58.851 0.0547 48.98 0.0373
Amortization 99037 0.0921 99027 0.0754839
Bad Debts 2.503 0.0023 684 0.0005
Egaipment Leases 9.071 0.0084 7.016 0.0053
Insurance 12512 0.0116 13.643 0.0104
Bark Changes/Interest 33352 0.031 44134 0.0336
Management Fees 18.184 0.0169 18.368 0.014
Meetings and Consentioris 2.049 0.0019 249 0.0002
Memberships/Licenses 5.955 0.0055 7.579 0.0058
Office 10.913 0.0101 12.09 0.0092
Professional Fees 7093 0.0066 10754 0.0082
Property Taxes 3043 0.0283 28779 0.0219
Repairs & Maintenance 115.515 0.1074 105.52 0.0804
Salaries & Wages 421.39 0.3918 473157 0.3807
Supplies 29.027 0.027 20.027 0.0153
Utilities 44011 0.0409 47.851 0.0365
Vehicle Expense 2.068 0.0019 3.538 0.0027
901.971 0.8385 941.376 0.7177
EBT 0 -0.0683 39083 0.0298
Taxes -113 -0.0105 8045 0.0048
NET INCOME $ -50993 -0.0558 $ 33038 0.0252
 2016
Forecast %of Sales New Maintenane Facilty(2016)
5 200 0.142 SALES
85 0.08 Cost of Sales
310000 0.22 Gross Profit
1.6 0.001 EXPENSES
10 0.007 Adsertising/Promotion
96000 0.067 Amortization
Bad Debts
356 0.252 Egaipment Leases
70 0.05 Insurance
230 0.163 Bark Changes/Interest
Management Fees
50 0.035 Meetings and Consentioris
4.75 0.003 Memberships/Licenses
1411350 1 Office
352838 0.25 Professional Fees
1058513 0.75 Property Taxes
Repairs & Maintenance
45 0.0319 Salaries & Wages
110 8E-05 Supplies
503 0.0004 Utilities
- 0 Vehicle Expense
14 0.0099
42000 0.018 EBT
33.993 0.0241 Taxes
5000 0.0035 NET INCOME
8.5 0.008
12.5 0.0089
10500 0.0074
29042 0.021
110 0.0779
500000 0.325
25 0.0177
461 0.0347
5 0.0035
1000635 0.709
57877 0.041
725 0.0051
S 50627 0.0359
tenane Facilty(2016) growth rate 2% Parking lot Expansion
1139577 SALES 1058512.5
359588.76 Cost of Sales 264628.5
779988.24 Gross Profit 793884
EXPENSES
45.9 Adsertising/Promotion 33.75
112.2 Amortization 82.5
513.06 Bad Debts 377.25
Egaipment Leases
14.28 Insurance 10.5
42840 Bark Changes/Interest 31500
34672.86 Management Fees 25494.75
5100 Meetings and Consentio 3750
867 Memberships/Licenses 63
1275 Office 94
10710 Professional Fees 7875
29622.84 Property Taxes 21782
1122 Repairs & Maintenance 83
510000 Salaries & Wages 375000
25.5 Supplies 19
470.22 Utilities 345
5.1 Vehicle Expense 3.75
637395.96 466513.5
142592.28 EBT 327370.5
739.5 Taxes 544
141852.78 NET INCOME 326826.5
 The Hideaway
SALES 1383123
Cost of Sales 345487.24
Gross Profit 1037635.76
EXPENSES
Adsertising/Promotion 44.1
Amortization 107.8
Bad Debts 492.94
Egaipment Leases
Insurance 13.72
Bark Changes/Interest 41160
Management Fees 33313.14
Meetings and Consentioris 4900
Memberships/Licenses 83.3
Office 122.5
Professional Fees 10290
Property Taxes 28461.16
Repairs & Maintenance 107.8
Salaries & Wages 490000
Supplies 24.5
Utilities 451.78
Vehicle Expense 4.9
609577.64
EBT 428058.12
Taxes 710.5
NET INCOME 427347.62
EXHIBIT 3: STONE ROCK GOLF & COUNTRY CLUB BALANCE SHEET
(AS AT OCTOBER 31)
2014 2015
Assets Current Actual Actual

Accounts receivable 24077 $ 32116

Inventory 40934 40147

Prepaid expenses 11717 14892

current assets 76728 87155

Property, plant and equipment 802407 728446

Future income taxes 8100 7900
887235 $ 823501
Liabilities and Shareholders' Equity
Current
Bank indebtedness $ 160413 $ 139940
Accounts payable 43234 60319
Employee deductions payable 7805 7995
Income taxes payable 5845
Sales tax payable 13550 2355
Deferred income 6710 4116
Current portion of long term debt 85612 58505
current libality 317324 279075
Longterm debt 177586 119063
total libality 494910 398138
Shareholders' Equity
Share capital 15041 15041
Retained earnings 377284 410322
total shareholder equity 392325 425363
total libality& equity 887235 $ 823501

Source: Company files.

 Ratios
2014 2015 2016
2016 Financial ratios
Forecast
Current ratio (x)
$ 26362 0.241797 0.3123 0.282237
Debt to equity ratio (x)
41727 1.26148 0.935996 0.839276
Interest coverage ratio (x)
16102 -2.137593 0.885553 1.378024
Gross margin (%)
84191 77% 75% 75%
Return on total assets (%)
786386 -6% 4% 6%
4900
$ 875477

$ 118735
84037
7695
8051
1422
8002
70357
298299
101188
399487

15041
460949
475990
$ 875477

1075840 1311895 1411350

244982 331238 352838
EXHIBIT 5: ESTIMATED PROJECT COSTS
New Wedding & Event Space Cost S Parking Lot Cost S
Demolition 10 Site Work 120000
Alterations to Existing Structure 75000 Electrical 15000
Interior Renovations 75000 Concrete 12600
Mechanical 75000 General 9.7
Electrical 95000 157.3
General Conditions 40000
Exterior Renovations 75 Professional Fees
445000 Contractor 65000
Architect 24000
Engineering Design & Site Plan 25000
Maintenance/Cart Storage Facility Mechanical & Electrical Engineering 10
Labour 20000 124000
Material 82500
Equipment 1000 Total 995350
Subtrades 165000
Other 550 Kitchen Equipment 100000
269.05
 CASH FLOW STATEMENT - 2016
Cash Flow From Operations
Net Income
Add: Depreciation 110
Add: Accounts Payable 23718
Add: Income Tax Paybale 2206
Add: Income Tax Receivable -

ADD: Change in Accounts Receivable 5754

Net Cash Flow From Operations

Cash Flow From Investing
Change in Equipment -4795
Net Cash Flow From Investing
Cash Flow From Financing
Amount due to shareholders 50627
Net Cash Flow From Financing
Net cash Flow
Beginning Cash Balance
Ending Cash Balance
2016

50627

26034

5754
82415

-4795

50627
128247
1411350
1539597
 Balance Sheet The Hideaway
Assets Current
Accounts receivable
Inventory
Prepaid expenses
current assets
Property, plant and equipment
Future income taxes
Total Assets
Liabilities and Shareholders' Equity
Current
Bank indebtedness
Accounts payable
Employee deductions payable
Income taxes payable
Sales tax payable
Deferred income
Current portion of long term debt
current libality
Longterm debt
total libality
Shareholders' Equity
Share capital
Retained earnings
total shareholder equity
total libality& equity
e Hideaway

19771.5
31295.25
12076.5
63143.25
589789.5
3675
656607.75

89051.25
63027.75
5771.25
6038.25
1066.5
6001.5
52767.75
223724.25
75891
299615.25

11280.75
345711.75
356992.5
656607.75