INTERNATIONAL CARD ESTABLISHMENT Financial Ratios — ICRD

Profitability (USD)

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Return on Common Equity (%)	- -	- -	-20.1	-29.53	-64	-65.05	-143.97	6.84	-30.5	-5.33	-86.92
Return on Assets (%)	- -	-203.15	-15.88	-21.96	-36.7	-41.24	-82.31	2.67	-12.26	-2.18	-29.67
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	7.45	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	7.45	- -	- -	- -
Gross Margin (%)	- -	- -	65.64	16.41	32.95	33.52	34.78	37.86	39.17	51.1	52.52
EBITDA Margin (%)	-282.85	-606.06	-45.28	-21.03	-37.87	-17.52	-32.34	1.76	-2.8	-16.65	-12.89
Operating Margin (%)	-375.95	-987.23	-45.38	-23.46	-55.31	-25.08	-40.82	1.76	-3.09	-18.08	-14.29
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	8.24	69.02	- -	17.81	13.53	- -
Pretax Margin (%)	- -	- -	-45.86	-23.51	-76.63	- -	- -	0.85	-4.44	-1.22	-15.13
Profit Margin (%)	-392.02	-1,055.5	-36.3	-13.92	-76.63	-33.02	-42.89	0.85	-4.44	-1.22	-15.13
Net Income to Common Margin (%)	-392.02	-1,055.5	-36.3	-14.25	-95.75	-34.88	-42.89	0.85	-4.44	-1.22	-15.13
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	0.99	17.02	6.17	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	-20.1	-29.24	-53.11	-61.03	-143.97	6.84	-30.5	-5.33	-86.92

Credit (USD)

Credit Ratios API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Total Debt	- -	- -	- -	2	2	2	1	1	1	- -	- -
ST Debt	- -	- -	- -	- -	2	1	1	1	1	- -	- -
LT Debt	- -	- -	- -	2	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	-0.87	-0.44	-0.15	-0.69	-0.97	-0.84	-0.35	4.93	-3.84	-0.57	-1.23
Net Debt/EBITDA	-0.87	-0.43	-0.12	-0.01	-0.62	-0.72	-0.31	4.24	-3.6	-0.51	-1.18
Total Debt/EBIT	-0.66	-0.27	-0.15	-0.62	-0.66	-0.54	-0.28	4.93	-3.48	-0.53	-1.11
Net Debt/EBIT	-0.66	-0.26	-0.12	-0.01	-0.42	-0.47	-0.25	4.24	-3.26	-0.47	-1.06
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	1.93	-3.91	-23.27	-14.73
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	1.93	-3.91	-24.28	-17.63
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	1.93	-4.32	-25.27	-16.34
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-212.35	2.3	80.62	74.32	68.15	65.24	35.06	43.45	36.47	47.05	20.12
Long-Term Debt/Equity (%)	- -	- -	- -	18.09	- -	10.15	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	14.89	- -	7.55	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	13.44	- -	6.63	- -	- -	- -	- -	- -
Total Debt/Equity (%)	-108.18	2,285.22	1.83	21.49	29.8	34.42	116.35	67.17	87.12	42.68	161.25
Total Debt/Capital (%)	1,322.17	95.81	1.79	17.69	22.96	25.61	53.78	40.18	46.56	29.91	61.72
Total Debt/Total Assets (%)	229.73	52.63	1.47	15.97	20.31	22.46	40.82	29.2	31.79	20.1	32.51
Net Debt to Equity	-108.16	2,256.42	1.54	0.2	19.04	29.6	102.36	57.85	81.55	38.03	154.26
Net Debt/Capital (%)	1,325.88	95.76	1.52	0.2	15.99	22.6	50.58	36.65	44.92	27.55	60.67
EBITDA	- -	- -	-1	-3	-2	-2	-3	- -	- -	-1	- -
EBITDA-CapEx	- -	- -	-1	-3	-11	-2	-3	- -	- -	-1	- -
Operating Income (Loss)	- -	- -	-1	-3	-3	-3	-4	- -	- -	-1	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Cash Ratio	- -	0.01	0.01	1.29	0.23	0.08	0.08	0.07	0.03	0.04	0.02
Current Ratio	0.01	1.02	0.41	1.99	1.37	0.35	0.32	0.37	0.26	0.29	0.18
Quick Ratio	0.01	0.95	0.39	1.88	0.42	0.31	0.26	0.29	0.19	0.17	0.1
CFO/Avg Current Liab	- -	-0.46	-0.01	-2.48	-1.69	-0.01	0.77	0.54	0.4	0.03	0.39
Common Equity/Total Assets	-212.35	2.3	80.62	74.32	68.15	65.24	35.06	43.45	36.47	47.05	20.12
Long-Term Debt/Equity (%)	- -	- -	- -	18.09	- -	10.15	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	14.89	- -	7.55	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	13.44	- -	6.63	- -	- -	- -	- -	- -
Total Debt/Equity (%)	-108.18	2,285.22	1.83	21.49	29.8	34.42	116.35	67.17	87.12	42.68	161.25
Total Debt/Capital (%)	1,322.17	95.81	1.79	17.69	22.96	25.61	53.78	40.18	46.56	29.91	61.72
Total Debt/Total Assets (%)	229.73	52.63	1.47	15.97	20.31	22.46	40.82	29.2	31.79	20.1	32.51
CFO/Total Liabilities	-52.39	-101.96	-0.69	-96.42	-126.9	-0.56	83.74	62.54	40.73	4.35	33.92
CFO/CapEx	- -	-498.96	-1.35	-39.92	-0.46	-0.39	- -	- -	- -	1.49	5.23
Altman's Z-Score	97.18	39.87	16.13	2.38	-1.61	-10.15	-45.1	-31.99	-46.09	-69.03	-70.62

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Accounts Receivable Turnover	- -	0.42	9.02	44.47	11.31	36.95	160.72	306.24	418.89	98.69	78.32
Days Sales Outstanding	- -	862.65	40.49	8.21	32.26	9.88	2.27	1.19	0.87	3.7	4.66
Inventory Turnover	- -	- -	- -	140.14	35.39	116.96	66.34	50.77	53.02	29.23	30.07
Days Inventory Outstanding	- -	- -	- -	2.6	10.31	3.12	5.5	7.19	6.88	12.49	12.14
Accounts Payable Turnover	- -	- -	- -	34.31	6.54	15.8	33.32	72.53	113.81	34.95	23.94
Accounts Payable Turnover Days	- -	- -	- -	10.64	55.82	23.1	10.95	5.03	3.21	10.44	15.25
Cash Conversion Cycle	- -	- -	- -	0.17	-13.25	-10.1	-3.18	3.35	4.55	5.74	1.55
Inventory to Cash Days	- -	- -	- -	5.6	21.95	6.76	-3.23	-6	-6.01	-8.79	-7.48
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Market Capitalization	77	8	34	18	7	8	4	1	1	- -	- -
- Cash & Cash Equivalents	- -	- -	- -	2	1	- -	- -	- -	- -	- -	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	2	2	2	1	1	1	- -	- -
Enterprise Value	77	9	34	18	8	10	5	2	1	1	1
Total Capital	- -	- -	4	12	9	6	2	2	1	1	1
Total Debt/Capital (%)	1,322.17	95.81	1.79	17.69	22.96	25.61	53.78	40.18	46.56	29.91	61.72
Total Debt / EV	- -	0.01	- -	0.12	0.25	0.17	0.21	0.4	0.48	0.4	0.56
EV/Sales	692.02	381.52	28.16	1.22	1.48	0.89	0.54	0.22	0.22	0.24	0.28
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	12.3	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	12.3	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	1.9	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	1.9	- -	- -	- -
Diluted Market Cap	4	1	9	12	6	7	4	1	1	- -	- -
Diluted Enterprise Value	4	1	9	12	7	9	5	2	1	1	1
EV per Share	2.19	0.24	0.95	0.51	0.24	0.27	0.14	0.05	0.04	0.02	0.02
TTM Sales	- -	- -	1	15	6	11	9	8	6	3	3
TTM EBITDA	- -	- -	-1	-3	-2	-2	-3	- -	- -	-1	- -
TTM Operating Income	- -	- -	-1	-3	-3	-3	-4	- -	- -	-1	- -
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Price/Free Cash Flow	-19.07	-9.82	-739.91	-3.43	-0.45	-144.74	2.86	1.35	1.4	42.36	1.22
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	12.3	- -	- -	- -
Enterprise Value	77	9	34	18	8	10	5	2	1	1	1
Low Price	1.82	0.1	0.2	0.45	0.14	0.1	0.05	0.02	0.02	- -	- -
EV/Sales	692.02	381.52	28.16	1.22	1.48	0.89	0.54	0.22	0.22	0.24	0.28
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	12.3	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	16.56	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	35.77	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	82.78	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	11.04	- -	- -	- -
Price/Book Value	-301.76	3,277.38	7.79	1.81	1.02	1.77	4.5	1.1	1	0.68	1.33
Price/Book Value Average	-285.52	10,876.28	5.44	3.36	1.66	1.55	6.43	2.37	1.86	0.66	1.07
Price/Book Value High	-304.53	31,681.33	8.03	5.19	2.79	2.61	10.18	5.49	6.97	1.58	2.4
Price/Book Value Low	-251.93	1,365.57	1.64	1.6	0.72	0.73	2	0.73	0.75	0.16	0.33
Price/Tangible Book Value	-301.76	3,277.38	-77.94	-8,922.21	2.22	-10.61	-4.03	-1.57	-0.93	-1.18	-0.52
Price/Tangible Book Value Average	-285.52	10,876.28	-54.44	-16,573.21	3.63	-9.3	-5.75	-3.38	-1.73	-1.14	-0.42
Price/Tangible Book Value High	-304.53	31,681.33	-80.4	-25,542	6.11	-15.69	-9.11	-7.83	-6.5	-2.73	-0.93
Price/Tangible Book Value Low	-251.93	1,365.57	-16.41	-7,872.53	1.57	-4.38	-1.79	-1.04	-0.7	-0.27	-0.13
Price/Sales	33.58	49.19	7.74	0.79	1.04	0.66	0.43	0.14	0.12	0.15	0.13
Price/Sales Average	31.77	163.24	5.41	1.47	1.69	0.58	0.62	0.3	0.23	0.15	0.11
Price/Sales High	33.89	475.51	7.98	2.26	2.85	0.98	0.98	0.7	0.86	0.35	0.24
Price/Sales Low	28.03	20.5	1.63	0.7	0.73	0.27	0.19	0.09	0.09	0.04	0.03
Price/Cash Flow	-19.07	-9.84	-1,288.09	-3.52	-1.42	-514.61	2.86	1.34	1.4	13.97	0.99
Price/Cash Flow Average	-18.04	-32.64	-899.77	-6.53	-2.32	-451.12	4.08	2.89	2.62	13.5	0.8
Price/Cash Flow High	-19.24	-95.09	-1,328.76	-10.07	-3.91	-760.72	6.47	6.68	9.83	32.24	1.78
Price/Cash Flow Low	-15.92	-4.1	-271.18	-3.1	-1	-212.55	1.27	0.89	1.05	3.22	0.25
Price/Free Cash Flow Average	-18.04	-32.58	-516.85	-6.37	-0.73	-126.89	4.08	2.91	2.62	40.94	0.98
Price/Free Cash Flow High	-19.24	-94.9	-763.28	-9.82	-1.23	-213.96	6.47	6.73	9.83	97.76	2.2
Price/Free Cash Flow Low	-15.92	-4.09	-155.77	-3.03	-0.32	-59.78	1.27	0.9	1.05	9.78	0.31
EV/Sales Average	654.91	1,260.07	19.69	2.27	2.28	0.79	0.73	0.38	0.33	0.23	0.26
EV/Sales High	698.35	3,665.45	29.05	3.49	3.67	1.25	1.09	0.78	0.96	0.44	0.39
EV/Sales Low	578.15	160.49	5.97	1.08	1.12	0.44	0.3	0.17	0.19	0.12	0.19
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	21.65	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	44.51	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	9.62	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	21.65	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	44.51	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	9.62	- -	- -	- -
Last Price	2.18	0.24	0.95	0.51	0.2	0.23	0.12	0.03	0.02	0.01	0.01
High Price	2.2	2.32	0.98	1.46	0.55	0.34	0.26	0.15	0.14	0.03	0.02
Enterprise Value Average	73	28	23	33	13	9	7	3	2	1	1
Enterprise Value High	78	82	35	52	21	13	10	6	6	1	1
Enterprise Value Low	64	4	7	16	6	5	3	1	1	- -	1

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011

Shares Outstanding	35	35	35	35	35	35	35	36	36	36	36
Diluted Weighted Avg Shares	2	5	10	23	29	31	35	36	36	36	36
Basic Weighted Avg Shares	2	5	10	23	29	31	35	35	36	36	36
Revenue per Share	0.06	- -	0.12	0.65	0.19	0.35	0.27	0.21	0.16	0.09	0.08
EBITDA per Share	-0.18	-0.03	-0.06	-0.14	-0.07	-0.06	-0.09	- -	- -	-0.01	-0.01
Operating Income per Share	-0.24	-0.05	-0.06	-0.15	-0.11	-0.09	-0.11	- -	-0.01	-0.02	-0.01
Basic EPS, GAAP	-0.25	-0.05	-0.04	-0.09	-0.18	-0.12	-0.11	- -	-0.01	- -	-0.01
Basic EPS from Cont Ops	-0.25	-0.05	-0.04	-0.09	-0.11	-0.1	-0.11	- -	-0.01	- -	-0.01
Diluted EPS, GAAP	-0.25	-0.05	-0.04	-0.09	-0.18	-0.12	-0.11	- -	-0.01	- -	-0.01
Diluted EPS from Cont Ops	-0.25	-0.05	-0.04	-0.09	-0.11	-0.1	-0.11	- -	-0.01	- -	-0.01
Dividend per Share	- -	- -	- -	- -	0.01	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.11	-0.02	- -	-0.15	-0.14	- -	0.04	0.02	0.01	- -	0.01
Free Cash Flow per Basic Share	-0.11	-0.02	- -	-0.15	-0.45	- -	0.04	0.02	0.01	- -	0.01
Cash & Equivalents per Share	- -	- -	- -	0.06	0.02	- -	- -	- -	- -	- -	- -
Book Value per Share	-0.01	- -	0.12	0.28	0.2	0.13	0.03	0.03	0.02	0.02	0.01
Tangible Book Value per Share	-0.01	- -	-0.01	- -	0.09	-0.02	-0.03	-0.02	-0.02	-0.01	-0.02