Top Shelf Brands Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Sep '11 Sep 30, 2011	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007
Revenue	2.47	2.64	2.02	1.6	0.19
Revenue Growth (YoY)	66.12%	30.67%	26.22%	763.69%	-
Gross Profit	2.47	2.64	2.02	1.6	0.19
Selling, General & Admin	2.7	2.77	3.34	2.31	0.32
Other Operating Expenses	-	-	-	0.19	-
Operating Expenses	2.7	2.77	3.34	2.89	0.32
Operating Income	-0.23	-0.13	-1.32	-1.29	-0.14
Interest Expense	-1.45	-1.35	-0.4	-0.26	-0.22
Interest & Investment Income	0.12	0.11	0.07	0.05	0.01
Other Non Operating Income (Expenses)	2.16	1.94	-2.62	-	-
EBT Excluding Unusual Items	0.6	0.57	-4.27	-1.5	-0.35
Legal Settlements	-	-	0.47	-	-
Other Unusual Items	-0.09	-0.01	0.19	-	-
Pretax Income	0.51	0.56	-3.61	-1.5	-0.35
Income Tax Expense	0.01	0	0	0	-
Earnings From Continuing Operations	0.5	0.55	-3.62	-1.5	-0.35
Earnings From Discontinued Operations	-0	-0	-0.01	-0.07	-0.48
Net Income	0.5	0.55	-3.62	-1.57	-0.83
Net Income to Common	0.5	0.55	-3.62	-1.57	-0.83
Shares Outstanding (Basic)	760	139	54	38	25
Shares Outstanding (Diluted)	4,333	1,510	54	38	25
Shares Change (YoY)	4254.59%	2680.82%	41.29%	53.74%	-
EPS (Basic)	0.00	0.00	-0.07	-0.04	-0.03
EPS (Diluted)	0.00	0.00	-0.07	-0.04	-0.03
Free Cash Flow	0.08	0.2	0.07	-0.31	-1.1
Free Cash Flow Per Share	-	-	0.00	-0.01	-0.04
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	-9.50%	-5.04%	-65.47%	-80.79%	-73.22%
Profit Margin	20.29%	20.95%	-179.27%	-98.04%	-449.09%
Free Cash Flow Margin	3.33%	7.68%	3.53%	-19.51%	-593.71%
EBITDA	-0.21	-0.11	-1.31	-1.28	-
EBITDA Margin	-8.59%	-4.21%	-65.05%	-80.07%	-
D&A For EBITDA	0.02	0.02	0.01	0.01	-
EBIT	-0.23	-0.13	-1.32	-1.29	-0.14
EBIT Margin	-9.50%	-5.04%	-65.47%	-80.79%	-73.22%
Effective Tax Rate	1.13%	0.73%	-	-	-
Revenue as Reported	2.47	2.64	2.02	1.6	0.19
Advertising Expenses	-	-	0	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.