Earthworks Entertainment, Inc. Financial Ratios — EWKS Stock

Profitability (USD)

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Return on Common Equity (%)	- -	- -	437.34	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-54.7	1,262,341.61	-1,658	-94.17	-80.84	-301.04	-413.39	-159.73	-122.53
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	14.73	14.91	- -	100	100	- -	- -	- -	- -	- -
EBITDA Margin (%)	-15.66	-3.32	- -	-317,105,300	-244.9	- -	- -	- -	- -	- -
Operating Margin (%)	-22.39	-6.31	- -	-391,417,700	-246.46	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	-1.6	- -	- -	-82.01	- -	- -	- -	- -
Pretax Margin (%)	-56.46	-151.03	- -	- -	-243.87	- -	- -	- -	- -	- -
Profit Margin (%)	-54.79	-151.03	- -	-394,223,400	-243.87	- -	- -	- -	- -	- -
Net Income to Common Margin (%)	-54.79	-151.03	- -	-394,223,400	-243.87	- -	- -	- -	- -	- -
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	437.34	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Total Debt	1	- -	- -	- -	- -	- -	- -	- -	1	1
ST Debt	1	- -	- -	- -	- -	- -	- -	- -	1	1
LT Debt	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	-1.43	- -	- -	- -	-0.01	- -	-0.13	- -	-0.93	-2.3
Net Debt/EBITDA	-1.43	- -	- -	- -	0.06	- -	-0.13	0.13	-0.8	-2.07
Total Debt/EBIT	-1	- -	- -	- -	-0.01	- -	-0.12	- -	-0.71	-0.79
Net Debt/EBIT	-1	- -	- -	- -	0.06	- -	-0.12	0.12	-0.61	-0.71
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-66.43	180,132.56	726,053.12	-687.89	-86.5	-1,624.15	-2,088.33	-9,196.83	-738.18	-927.07
Long-Term Debt/Equity (%)	104.56	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	-31.11	- -	- -	- -	- -	- -	-1.9	- -	- -	- -
Long-Term Debt/Total Assets (%)	10.11	- -	- -	- -	- -	- -	38.84	- -	- -	- -
Total Debt/Equity (%)	205.77	- -	- -	- -	0.82	- -	-38.17	- -	168.53	451.3
Total Debt/Capital (%)	-61.22	- -	- -	- -	-0.87	- -	-1.9	- -	-6.68	-8.35
Total Debt/Total Assets (%)	19.89	- -	- -	- -	0.74	- -	38.84	- -	46.22	69.24
Net Debt to Equity	205.45	0.01	0.04	-0.34	-3.33	-8.21	-38.17	14.05	144.48	406.31
Net Debt/Capital (%)	-61.07	-0.06	-0.01	0.02	3.37	0.1	-1.89	0.64	-5.67	-7.46
EBITDA	-1	- -	- -	-3	-4	-2	-2	-1	-1	-1
EBITDA-CapEx	-1	- -	- -	-3	-4	-2	-2	-1	-1	-1
Operating Income (Loss)	-1	- -	- -	-4	-4	-2	-2	-1	-1	-2

Liquidity (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Cash Ratio	- -	- -	- -	- -	0.38	0.02	- -	0.13	0.1	0.08
Current Ratio	0.54	- -	- -	- -	1.25	0.44	0.18	0.15	0.1	0.19
Quick Ratio	0.12	- -	- -	- -	0.95	0.02	- -	0.14	0.1	0.08
CFO/Avg Current Liab	- -	0.02	- -	- -	-1.66	-1.66	-0.29	-0.29	-0.79	-1.8
Common Equity/Total Assets	-66.43	180,132.56	726,053.12	-687.89	-86.5	-1,624.15	-2,088.33	-9,196.83	-738.18	-927.07
Long-Term Debt/Equity (%)	104.56	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	-31.11	- -	- -	- -	- -	- -	-1.9	- -	- -	- -
Long-Term Debt/Total Assets (%)	10.11	- -	- -	- -	- -	- -	38.84	- -	- -	- -
Total Debt/Equity (%)	205.77	- -	- -	- -	0.82	- -	-38.17	- -	168.53	451.3
Total Debt/Capital (%)	-61.22	- -	- -	- -	-0.87	- -	-1.9	- -	-6.68	-8.35
Total Debt/Total Assets (%)	19.89	- -	- -	- -	0.74	- -	38.84	- -	46.22	69.24
CFO/Total Liabilities	-5.56	4.61	-0.11	- -	-120.04	-215.86	-15.65	-24.22	-52.53	-168.97
CFO/CapEx	-23.91	- -	- -	- -	-62.99	-17.79	- -	- -	-717.27	- -
Altman's Z-Score	-1.85	-4,988.07	-11,690.52	-39.98	-20.17	-45.48	-48.88	-153.68	-175.01	-103.86

Working Capital (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Accounts Receivable Turnover	- -	3.81	- -	- -	7.34	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	95.75	- -	- -	49.73	- -	- -	- -	- -	- -
Inventory Turnover	- -	1.1	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	331.24	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	426.99	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	-235.49	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Preferred Equity and Hybrid Capital	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
+ Total Debt	1	- -	- -	- -	- -	- -	- -	- -	1	1
Enterprise Value	2	- -	- -	- -	- -	- -	- -	1	1	2
Total Capital	-2	- -	- -	-3	-6	-9	-10	-13	-15	-16
Total Debt/Capital (%)	-61.22	- -	- -	- -	-0.87	- -	-1.9	- -	-6.68	-8.35
Total Debt / EV	0.59	- -	- -	- -	-0.3	- -	0.81	- -	0.74	0.65
EV/Sales	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	2	- -	- -	- -	- -	- -	- -	1	1	2
EV per Share	98.51	- -	- -	- -	- -	0.14	0.01	0.02	0.02	0.03
TTM Sales	5	1	- -	- -	1	- -	- -	- -	- -	- -
TTM EBITDA	-1	- -	- -	-3	-4	-2	-2	-1	-1	-1
TTM Operating Income	-1	- -	- -	-4	-4	-2	-2	-1	-1	-2
TTM Cash Flow to Firm	- -	- -	- -	- -	-1	-1	- -	- -	-1	-3
TTM Free Cash Flow to Firm	- -	- -	- -	- -	-1	-1	- -	- -	-1	-3

Multiples (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	-0.3	-2.59	-0.6	-0.11
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	2	- -	- -	- -	- -	- -	- -	1	1	2
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	0.01	- -
EV/Sales	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	-0.01	-0.11	-0.1	-0.31	-0.19
Price/Earnings High	- -	- -	- -	- -	- -	-0.02	-0.39	-0.52	-0.47	-0.39
Price/Earnings Low	- -	- -	- -	- -	- -	- -	-0.02	-0.01	-0.21	-0.1
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	-0.04	-0.03	-0.02
Price/Book Value Average	- -	- -	- -	- -	- -	- -	-0.02	-0.01	-0.04	-0.03
Price/Book Value High	- -	- -	- -	- -	- -	-0.01	-0.06	-0.05	-0.05	-0.05
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	-0.02	-0.01
Price/Tangible Book Value	- -	- -	- -	- -	- -	0.06	-0.09	-0.77	-0.35	-0.23
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	0.34	-0.34	-0.22	-0.41	-0.36
Price/Tangible Book Value High	- -	- -	- -	- -	- -	0.84	-1.19	-1.11	-0.62	-0.74
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	0.04	-0.06	-0.03	-0.27	-0.18
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	-0.3	-2.59	-0.6	-0.11
Price/Cash Flow Average	- -	- -	- -	- -	- -	-0.02	-1.13	-0.75	-0.69	-0.17
Price/Cash Flow High	- -	- -	- -	- -	- -	-0.06	-3.99	-3.7	-1.06	-0.35
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	-0.2	-0.09	-0.46	-0.09
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	-0.03	-1.13	-0.75	-0.69	-0.17
Price/Free Cash Flow High	- -	- -	- -	- -	- -	-0.07	-3.99	-3.7	-1.06	-0.35
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	-0.2	-0.09	-0.46	-0.09
EV/Sales Average	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	-2.43	- -	- -	- -	0.05	-0.07	-0.24	-0.4	-1.33	-3.84
EV/EBITDA High	-2.43	- -	- -	- -	0.05	-0.08	-0.54	-1.22	-1.62	-4.7
EV/EBITDA Low	-2.43	- -	- -	- -	0.05	-0.06	-0.15	-0.21	-1.16	-3.44
EV/EBIT Average	-1.7	- -	- -	- -	0.05	-0.07	-0.24	-0.38	-1.02	-1.32
EV/EBIT High	-1.7	- -	- -	- -	0.05	-0.08	-0.53	-1.16	-1.24	-1.62
EV/EBIT Low	-1.7	- -	- -	- -	0.05	-0.06	-0.15	-0.2	-0.88	-1.18
Last Price	- -	- -	- -	- -	- -	- -	- -	0.01	0.01	- -
High Price	- -	- -	- -	- -	- -	0.06	0.03	0.02	0.02	0.02
Enterprise Value Average	2	- -	- -	- -	- -	- -	- -	- -	1	2
Enterprise Value High	2	- -	- -	- -	- -	- -	1	1	2	3
Enterprise Value Low	2	- -	- -	- -	- -	- -	- -	- -	1	2

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Shares Outstanding	- -	- -	- -	1	1	1	1	2	3	3
Diluted Weighted Avg Shares	- -	- -	- -	- -	1	1	23	34	57	65
Basic Weighted Avg Shares	- -	- -	- -	- -	1	1	23	34	57	65
Revenue per Share	258.62	52.68	- -	- -	2.28	- -	- -	- -	- -	- -
EBITDA per Share	-40.49	-1.75	-2.29	-11.22	-5.59	-2.41	-0.07	-0.02	-0.02	-0.01
Operating Income per Share	-57.9	-3.32	-2.29	-13.85	-5.63	-2.43	-0.07	-0.02	-0.02	-0.03
Basic EPS, GAAP	-141.7	-79.56	51.06	-13.95	-5.57	-3.13	-0.07	-0.04	-0.03	-0.04
Basic EPS from Cont Ops	-141.7	-79.56	51.06	-13.95	-5.57	-3.13	-0.07	-0.04	-0.03	-0.04
Diluted EPS, GAAP	-141.7	-79.56	51.06	-13.95	-5.57	-3.13	-0.07	-0.04	-0.03	-0.04
Diluted EPS from Cont Ops	-141.7	-79.56	51.06	-13.95	-5.57	-3.13	-0.07	-0.04	-0.03	-0.04
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-14.59	2.78	- -	- -	-1.32	-0.96	-0.01	-0.01	-0.01	-0.04
Free Cash Flow per Basic Share	-15.2	2.78	- -	- -	-1.34	-1.02	-0.01	-0.01	-0.01	-0.04
Cash & Equivalents per Share	0.09	0.01	- -	- -	0.41	0.01	- -	- -	- -	- -
Book Value per Share	-193.01	12.65	11.67	-11.57	-9.59	-9.06	-0.45	-0.4	-0.28	-0.28
Tangible Book Value per Share	-111.86	-60.21	-4.33	0.56	0.51	0.07	-0.02	-0.02	-0.02	-0.02

Earthworks Entertainment, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)