Exhibit 1

GUNA FIBRES, LTD.

Guna Fibres Annual Income Statements (in thousands of Indian rupees)

2010 2011 2012

Gross Sales 64,487 75,867 90,899 Q.A.
Excise Tax 9,673 11,380 13,635
Net Sales 54,814 64,487 77,264
Cost of Goods 44,496 53,866 66,993
Gross Profits 10,318 10,621 10,272 2010
Operating Expenses 3,497 4,829 5,454
Depreciation 769 909 1,074
Interest Expense 910 1,240 2,026
Profit Before Tax 5,142 3,644 1,717 2011
Income Tax 1,545 1,093 515
Net Profit 3,597 2,551 1,202

Cash 895 762 2012

Accounts Receivable 2,390 2,673
Inventory 2,974 3,450
Total Current Assets 6,259 6,885
Gross Plant, Property, and Equipmen 8,868 10,096
Accumulated Depreciation 1,170 1,484
Net Plant, Property, and Equipment 7,698 8,612
Total Assets 13,957 15,497

Accounts Payable 603 822

Notes to Bank 0 798
Accrued Taxes -62 -90
Total Current Liabilities 541 1,530
Owners' Equity 13,416 13,967
Total Liabilities and Equity 13,957 15,497
Sales Growth 2011 17.65 %
Sales Growth 2013
Gross Profit Margin 18.82395438 %
Net Profit Margin 6.562533066 %
Operating Costs 6.379733719 %

Gross Profit Margin 16.47058816 %

Net Profit Margin 3.955560675 %
Operating Costs 7.48785681 %

Gross Profit Margin 13.29411765 %

Net Profit Margin 1.555994138 %
Operating Costs 7.058823529 %
 Exhibit 2
GUNA FIBRES, LTD.
Guna Fibres Monthly Sales, 2011 Actual and 2012 Forecast
(in thousands of Indian rupees)

2011 2012
(Actual)(Forecast)
January 2,012 2,616
February 2,314 2,892
March 3,421 4,447
April 7,043 8,804
May 12,074 13,885
June 15,294 17,588
July 14,187 16,315
August 7,144 8,576
September 4,025 5,031
October 3,421 4,447
November 2,717 3,531
December 2,214 2,767
Year 75,867 90,899
 Exhibit 5
GUNA FIBRES, LTD.
Guna Fibres Annual Income Statements (in thousands of Ind

Assumptions
Excise Tax Rate 15% Minimum Cash Balance (000
Cost of Goods Sold / Gr Sales 73.7% Accounts Receivable Collect
Annual Operating Expenses / Annual Gr Sales 6.0% In One Month
Depreciation / Gross PP&E 10% In Two Months
Interest Rate on Borrowings (and Deposits) 14.5% Purchases / Gr Sales in Two
Income Tax Rate 30% Direct Labor / Purchases Las
Dividends Paid (000s in March, June, Sep, Dec) 500 Capital Expenditures (every
Accounts payable / Purchase

Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12

Gross Sale 2,717 2,214 2,616 2,892 4,447 8,804 13,885
Excise Taxes (2) 392 434 667 1,321 2,083
Net Sales 2,224 2,458 3,780 7,483 11,802
Cost of Goods Sold 1,928 2,131 3,277 6,489 10,233
Gross Profit 296 327 503 995 1,569
Operating Expenses (3) 454 454 454 454 454
Depreciation (4) 84 84 87 87 87
Interest Expense (5) 10 21 57 144 261
Profit Before Taxes -253 -233 -96 309 767
Income Taxes -76 -70 -29 93 230
Net Profit -177 -163 -67 217 537
Dividend 500
441
Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12
Cash 762 750 750 750 750 750
Accounts Receivable (6) 2,673 2,773 3,291 5,011 10,301 17,996
Inventory 3,450 4,509 8,051 14,057 19,838 21,867
Total Current Assets 6,885 8,032 12,092 19,818 30,889 40,613
Gross Plant, Property, and Equip (7) 10,096 10,096 10,096 10,446 10,446 10,446
Accumulated Depreciation 1,484 1,568 1,652 1,739 1,826 1,913
Net Plant, Property, and Equipment 8,612 8,527 8,443 8,706 8,619 8,532
Total Assets 15,497 16,559 20,535 28,524 39,508 49,146

Accounts Payable (8) 822 1,223 2,421 3,818 4,837 4,487

Note Payable (9) 798 1,712 4,722 11,910 21,567 30,787
Accrued Taxes (10) -90 -166 -236 -265 -172 58
Total Current Liabilities 1,530 2,769 6,908 15,464 26,232 35,332
Shareholders' Equity (11) 13,967 13,790 13,627 13,060 13,277 13,813
Total Liabilities & Equity 15,497 16,559 20,535 28,524 39,508 49,146
Inventory Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12
Purchases 1,439 1,591 2,446 4,842 7,637 9,673 8,973
Direct Labor & Other Mftg Costs (13) 489 541 832 1,646 2,596 3,289
Cost of Goods Sold 1,928 2,131 3,277 6,489 10,233
Inventory (14) 3,450 4,509 8,051 14,057 19,838 21,867

Notes:
(1) Follows forecast in Exhibit 2
(2) Gross Sales * Exercise Tax Rate
(3) Annual Operating Expenses / 12
(4) Gross PPE * Depreciation Rate / 12
(5) Notes Payable (t -1) * Interest Rate / 12
(6) AR(t -1 ) + GSales(t) - 40% * GSales(t-2) - 60% x GSales(t -2)
(7) GPPE(t -1) + Capex(t)
(8) 50% * Purchases(t)
(9) Total Assets - AP - AccTax - ShrEquity
(10) AccTax(t -1) + IncTax(t) or 0 if positive balance and month of quarterly payment
(11) ShrEquity(t -1) + NetProfit(t) - Dividend(t)
(12) 55% * GSales(t + 2)
(13) 35% * Purchases(t -1)
(14) Inventory(t -1) + Purchases(t) + Direct Labor(t) - COGS(t)
A FIBRES, LTD.
Statements (in thousands of Indian rupees)

Minimum Cash Balance (000s) 750

Accounts Receivable Collection
In One Month 40%
In Two Months 60%
Purchases / Gr Sales in Two Months 55%
Direct Labor / Purchases Last Month 34%
Capital Expenditures (every third month) 350
Accounts payable / Purchases 50%
Full year
Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jul-05 Jan-13 Feb-13
17,588 16,315 8,576 5,031 4,447 3,531 2,767 90,899 3,401 3,616
2,638 2,447 1,286 755 667 530 415 13,635
14,950 13,868 7,290 4,276 3,780 3,001 2,352 77,264
12,962 12,024 6,321 3,708 3,277 2,602 2,039 66,993
1,987 1,844 969 569 503 399 313 10,272
454 454 454 454 454 454 454 5,454
90 90 90 93 93 93 96 1,074
372 417 336 198 105 62 44 2,026
1,071 882 88 -177 -150 -211 -281 1,717
321 265 26 -53 -45 -63 -84 515
750 617 62 -124 -105 -147 -197 1,202
500 500 500

Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

750 750 750 750 750 750 750
24,748 25,697 17,194 9,006 6,295 5,028 3,715
16,672 9,019 6,085 5,151 4,056 3,841 4,427
42,170 35,466 24,029 14,907 11,100 9,619 8,891
10,796 10,796 10,796 11,146 11,146 11,146 11,496
2,003 2,093 2,183 2,276 2,369 2,462 2,558
8,792 8,702 8,612 8,869 8,777 8,684 8,938
50,963 44,168 32,641 23,776 19,877 18,303 17,829

2,358 1,384 1,223 971 761 935 994

34,541 27,840 16,385 8,687 5,147 3,610 3,858
0 265 291 0 -45 -108 -192
36,899 29,488 17,899 9,658 5,863 4,437 4,660
14,063 14,680 14,742 14,118 14,013 13,866 13,169
50,963 44,168 32,641 23,776 19,877 18,303 17,829
Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jul-05
4,717 2,767 2,446 1,942 1,522 1,871 1,989 50,824
3,051 1,604 941 832 660 517 636 17,145
12,962 12,024 6,321 3,708 3,277 2,602 2,039
16,672 9,019 6,085 5,151 4,056 3,841 4,427
 Guna Fibres Annual Income Statements

Assumptions
Excise Tax Rate 15%
Cost of Goods Sold / Gr Sales 73.7%
Annual Operating Expenses / Annual Gr Sales 6.0%
Depreciation / Gross PP&E 10%
Interest Rate on Borrowings (and Deposits) 14.5%
Income Tax Rate 30%
Dividends Paid (000s in March, June, Sep, Dec) 500

Nov-11 Dec-11 Jan-12 Feb-12 Mar-12

Gross Sales (1) 2,717 2,214 2,616 2,892 4,447
Excise Taxes (2) 392 434 667
Net Sales 2,224 2,458 3,780
Cost of Goods Sold 1,928 2,131 3,277
Gross Profit 296 327 503
Operating Expenses (3) 454 454 454
Depreciation (4) 84 84 87
Interest Expense (5) 10 21 57
Profit Before Taxes -253 -233 -96
Income Taxes -76 -70 -29
Net Profit -177 -163 -67
Dividend 500

Dec-11 Jan-12 Feb-12 Mar-12

Cash 762 750 750 750
Accounts Receivable (6) 2,673 2,773 3,291 5,011
Inventory 3,450 4,509 8,051 14,057
Total Current Assets 6,885 8,032 12,092 19,818
Gross Plant, Property, and Equip (7) 10,096 10,096 10,096 10,446
Accumulated Depreciation 1,484 1,568 1,652 1,739
Net Plant, Property, and Equipment 8,612 8,527 8,443 8,706
Total Assets 15,497 16,559 20,535 28,524

Accounts Payable (8) 822 1,223 2,421 3,818

Note Payable (9) 798 1,712 4,722 11,910
Accrued Taxes (10) -90 -166 -236 -265
Total Current Liabilities 1,530 2,769 6,908 15,464
Shareholders' Equity (11) 13,967 13,790 13,627 13,060
Total Liabilities & Equity 15,497 16,559 20,535 28,524
Inventory Detail Nov-11 Dec-11 Jan-12 Feb-12 Mar-12
Purchases (12) 1,439 1,591 2,446 4,842 7,637
Direct Labor & Other Mftg Costs (13) 489 541 832 1,646
Cost of Goods Sold 1,928 2,131 3,277
Inventory (14) 3,450 4,509 8,051 14,057

Notes:
(1) Follows forecast in Exhibit 2
(2) Gross Sales * Exercise Tax Rate
(3) Annual Operating Expenses / 12
(4) Gross PPE * Depreciation Rate / 12
(5) Notes Payable (t -1) * Interest Rate / 12
(6) AR(t -1 ) + GSales(t) - 40% * GSales(t-2) - 60% x GSales(t -2)
(7) GPPE(t -1) + Capex(t)
(8) 50% * Purchases(t)
(9) Total Assets - AP - AccTax - ShrEquity
(10) AccTax(t -1) + IncTax(t) or 0 if positive balance and month of quarterly payment
(11) ShrEquity(t -1) + NetProfit(t) - Dividend(t)
(12) 55% * GSales(t + 2)
(13) 35% * Purchases(t -1)
(14) Inventory(t -1) + Purchases(t) + Direct Labor(t) - COGS(t)
 Exhibit 5
GUNA FIBRES, LTD.
es Annual Income Statements (in thousands of Indian rupees)

Minimum Cash Balance (000s) 750

Accounts Receivable Collection Obj 1
In One Month 40% Obj 2
In Two Months 60%
Purchases / Gr Sales in Two Months 55%
Direct Labor / Purchases Last Month 34%
Capital Expenditures (every third month) 350
Accounts payable / Purchases 50%
Full year
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jul-05
8,804 13,885 17,588 16,315 8,576 5,031 4,447 3,531 2,767 90,899
1,321 2,083 2,638 2,447 1,286 755 667 530 415 13,635
7,483 11,802 14,950 13,868 7,290 4,276 3,780 3,001 2,352 77,264
6,489 10,233 12,962 12,024 6,321 3,708 3,277 2,602 2,039 66,993
995 1,569 1,987 1,844 969 569 503 399 313 10,272
454 454 454 454 454 454 454 454 454 5,454
87 87 90 90 90 93 93 93 96 1,074
144 261 372 417 336 198 105 62 44 2,026
309 767 1,071 882 88 -177 -150 -211 -281 1,717
93 230 321 265 26 -53 -45 -63 -84 515
217 537 750 617 62 -124 -105 -147 -197 1,202
500 500 500

Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

750 750 750 750 750 750 750 750 750
10,301 17,996 24,748 25,697 17,194 9,006 6,295 5,028 3,715
19,838 21,867 16,672 9,019 6,085 5,151 4,056 3,841 2,438
30,889 40,613 42,170 35,466 24,029 14,907 11,100 9,619 6,903
10,446 10,446 10,796 10,796 10,796 11,146 11,146 11,146 11,496
1,826 1,913 2,003 2,093 2,183 2,276 2,369 2,462 2,558
8,619 8,532 8,792 8,702 8,612 8,869 8,777 8,684 8,938
39,508 49,146 50,963 44,168 32,641 23,776 19,877 18,303 15,840

4,837 4,487 2,358 1,384 1,223 971 761 935 0

21,567 30,787 34,541 27,840 16,385 8,687 5,147 3,610 2,864
-172 58 0 265 291 0 -45 -108 -192
26,232 35,332 36,899 29,488 17,899 9,658 5,863 4,437 2,671
13,277 13,813 14,063 14,680 14,742 14,118 14,013 13,866 13,169
39,508 49,146 50,963 44,168 32,641 23,776 19,877 18,303 15,840
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jul-05
9,673 8,973 4,717 2,767 2,446 1,942 1,522 1,871 0 48,836
2,596 3,289 3,051 1,604 941 832 660 517 636 17,145
6,489 10,233 12,962 12,024 6,321 3,708 3,277 2,602 2,039
19,838 21,867 16,672 9,019 6,085 5,151 4,056 3,841 2,438
Any 0 in notes payables
Peak loan amount

Jan-13 Proposal 1 Proposal 2

3,401 No Impact No Impact
No Impact No Impact
No Impact No Impact
No Impact YES
No Impact YES
No Impact No Impact
No Impact No Impact
YES

No Impact No Impact
No Impact No Impact
YES For Jan - purchases wYES
YES YES
No Impact No Impact
No Impact -
No Impact No Impact
YES YES

YES