EFTA00587787.pdf

VIRGINIA TO FLORIDA Captain Steve Rampino 14 days x $350/day Captain Jerry Berryhill 14 days x $250/day Engineer Jimmy Weir 14 days x $250/day TOTAL CREW NORFOLK TO FLORIDA Leave STT AM 5/21 arrive Norfolk PM 5/22 - Prep boat to sail and install equipment for operations, paint wheelhouse 5/23 - Prep to sail, install equipment, paint wheelhouse 5/24 — Get underway AM Traveling 6AM — 8PM daily should make 100 miles/day 5/25-6/1 continue travel 6/2 arrive Port Everglades late afternoon 6/3 - Travel to STT Rampino and Berryhill. Weir to transit Caribbean with new crew. Airfare STT to Norfolk 5/21 to STT 3 r/t tickets - 5/21 to Norfolk, 6/3 to STT Auto rental Norfolk Hotel 5/21, 22, 23 Per Diem 5/21, 22, 23 Hotel Dinner 5/27, 30, 6/02 Fuel 9days-14hrs/day x 20ga1/hr Fuel Tanks 1 x 2000ga1, 1 x 1600ga1 Deck chairs Living trailer Freezer (if not in trailer) Life Raft Rental Generator Rental 3500watts 16 days $ 16 x $50/day Fresh water tank 250ga1s Misc. Sheets, foodservice, storage gas cans, food ice, water 16days Charts + 10% Contingency $100 x 3 $ 175 x 3 $ 75 x 3 x 3 $ 150x3x3 $ 3/gal x 2520ga1s $ 25 x 2 $ 4900 $ 3500 $ 3500 $11,900 $ 300 $ 525 $ 675 $1,050 $7,570 $5,000 $ 50 $2,000 $ 200 TBD $ 900 $ 300 $2,000 300 $ 2.000 TOTAL TRAVEL EXPENSES ST THOMAS to FLORIDA $ 21, 820 EFTA00587787 Page 2 FLORIDA TO ST THOMAS Richard De Badts Jimmy Weir Brian Crawford Ingvar Johannsen - Captain 8.5 days at $ 300/day $2,550 Engineer/driver 7.0 days at $ 250/day $1,750 Ist Mate/driver 8.5 days at $ 200/day $1,700 driver/mechanic 8.5 days at $ 225/day $1,925 TOTAL CREW FLORIDA TO ST THOMAS $8,025 Crew arrives Florida 6/2 — checkout boat, provision 6/3 - leave Florida 6/4 AM Travel Florida to St Thomas arrive 6/10 Airfare St Thomas to Florida 3 tickets one-way $ 360 x3 Auto rental Florida incl rtn taxi $ 150 x 1 Per Diem 6/02-03 $ 100 x3 Fuel 6days — 24hrs/day x 25ga1 $ 3/gal x 3600ga1 Food at Sea 6days $ 100 x 6 + 10 % Contingency $ 1,080 $ 150 $ 300 $10,800 $ 600 $ 1,300 TOTAL TRAVEL EXPENSES FLORIDA to ST THOMAS $14,230 TOTAL EXPENSES ROUNTRIP to DELVER LSJLCM to S THOMAS $ 55,975 INSURANCE FOR THE CREW NEEDS TO BE ACQUIRED - STAGCORP and STEVEN RAMPINO NEED TO BE NAMED ADDITIONALLY INSURED These expenses include capital expenses of fuel tanks and trailer which can be resold upon reaching St Thomas. This budget is contingent on good weather, especially Florida to St Thomas. Bad weather on the ocean will extend delivery time and increase expenses. We are planning to make the transit non-stop from Florida to St Thomas, if questionable weather is predicted we will switch our route and go through the Bahamas and Turks and Caicos extending the ocean part of the trip by at least 2 days. EFTA00587788 Page 3 SUMMARY OF CONSTRUCTION EXPENSES TO DATE AND FUNDS NEEDED FOR COMPLETION BEFORE BOAT LEAVES VIRGINIA Purchase Price Superstructure Construction Fuel Purchase Hydraulic Pistons Operating Equipment $ 150,000 paid in full $ 28,000 $ 14,000 paid —balance due 6/22/07 $ 14,700 due 6/22/07 $ 9,900 due 6/22/07 due 6/22/07 Gauges — tachs, gauges, senders and keys $335 x 2 $ 770 oil, gauges and lines 120 x 2 240 temp, gauges and wires 165 x2 330 ammeters gauges and wire 75 x2 150 Electrical Panel 450 Raritan rudder Indicator 450 Bilge Pumps 2000gal Rule 161 x 2 322 Hi Water Level Alarm 110 12' Boat Hook 93 1 Running Lights 325 Cabin Lights 50 x 2 100 Chart light 48 Searchlight w spare globe 665 Cargo Well lights 65 x2 130 Horn 255 Man overboard Lights 165 x2 330 Fog Bell 100 24v to 12v Converter 220 12v Deep Cycle Battery 110 12v Starting Batteries 210 x 2 420 200 amp Battery Charger 175 Fuel transfer Pump 198 2" Crash Pump 440 2" suction and Discharge Hose 100 2ton Chain fall 115 Tie down Straps for fuel tanks 35 x4 140 Fire Extinguishers 145 x 4 580 Mounting Brackets 62 x 4 248 Total This page $ 6,906 EFTA00587789 Page 4 VHF Radio Icom 422 220 Radio Antennae and Mount 176 Radar Fun.mo1930 -36 mile 5100 GPS Garmin 365 EPIRB Catl 1070 Compass 270 Life Jackets w lights, whistles 110 x 6 660 Life Float incl float-free link and line 1390 Life rings 125 x 2 250 Flare Kit 305 Boat Line 600' 3-strand nylon 1055 Anchor Chain 30' '/2 Galvanized Chain 240 Misc. Shackles 150 STEEL AND ALUMINUM TO COMPLETE MODIFICATIONS IN ST THOMAS 2 - 7/8" 4' X 10' Steel Plate for Hinge Ramps 1375 4 - 1" x 20' Aluminum Square Stock for ramp sliders tbd 1 — 4" x 20' I-Beam for Entrance Ramps tbd 1 —'A" x 4" Flat bar for Hinge ramp support tbd Total this page $12,626 All of the above items are being procured and installed by Ireland Marine of Chesapeake, Virginia. Labor rates for installation is quoted at $50/hr. approx 40 hrs is projected $2000 To this point Ireland Marine is due a wire transfer totaling $ 58, 132.00 by June 22, 2007. Including approx. labor and tbd items a wire for $ 60,000 should do. I will provide funds for any additional items that I may have missed (I'm sure I have). We will need recurring supplies like filters and hoses etc. Emad, this should give a real close budget of expenses. Please seek approval ASAP as ticket prices will change as advance purchase narrows. Steve EFTA00587790