What is a reasonable evaluation of the SSI's value based on your analysis of the financials given and common-sense projections for the next few years?

EXHIBIT 1: SAFARI SPECIALISTS INC. NET INCOME, 2012-2015 (IN US$) 2012 2013 2014 2015E Revenue 859,504 1,156,999 1,726,142 1,600,000 COGS 720,998 954,669 1,460,582 1,350,000 Gross Profit $138,506 $202,329 $265,561 $250,000 Average Gross Profit Margin 16.1% 17.5% 15.4% 15.6% SG&A Expenses Marketing Expenses 8,213 15,706 19,960 15,155 Telephone + Internet Expenses 5,463 5,164 5.524 5,000 Payroll 29,803 138,798 160,981 150,000 Total Expenses $143,479 $159,668 $ 186,465 $170,155 EBIT $ (4,973) $42,661 $79,096 $79,845 Taxes (35%) -1,740 14,931 27,683 27,946 Net Income $(3,232) $27,730 $51,412 $51,899 Note: * Includes Kim Willoughby, Angie Hopkins, Tom Andrews, and Martin Fischer; E = estimated; COGS = cost of goods old; SG&A = selling, general, and administrative; EBIT = earnings before interest and taxes. Source: Company files. EXHIBIT 2: SAFARI SPECIALISTS INC. FUTURE BOOKINGS BY YEAR (IN US$) Year Total Revenue Deposits Received 2016 $650,000 $130,000 2017 $250,000 $50,000 2018 $150,000 $30,000 Total $1,050,000 $210,000 Note: Deposits were generally sent directly to safari camps to reserve rooms (and pay for cost of goods sold) and would therefore not be transferred in cash to Extraordinary Journeys. Clients sent 20 per cent of the cost of bookings to the tour operator as an early deposit. The final 80 per cent of payments were usually sent 60 days before the trip occurred. Source: Company files