Fully Ramped Target Model, Not Current Actual Results
These figures model the flagship array's revenue and operating income once fully leased up across all four signed agreements and once the array reaches its full 1.2 MW design capacity. Only SunBit Mining Corporation is currently live; actual revenue today is materially lower.
Framing Callout
This model assumes the flagship array has reached full 1.2 MW capacity and that all four agreements, including the three not yet commenced, are simultaneously delivering their full modeled volume. The Florida Sun's actual current revenue is materially lower than the figures below and is expected to rise in stages as capacity and the remaining three agreements come online. Management has not disclosed an interim actual revenue figure in this prospectus.
Modeled Annual Contracted Revenue by Customer
At full ramp, once all four agreements are simultaneously live.
Total modeled contracted revenue: $109,500/yr once all four agreements are simultaneously live and the array is at full capacity.
By comparison, Florida commercial and cooperative retail electricity rates typically run $0.12–$0.19/kWh. The spread between that retail benchmark and The Florida Sun's $0.051/kWh blended contracted rate is the core of the margin story: customers receive a meaningful discount to grid alternatives, while The Florida Sun still captures healthy revenue on power it generates at near-zero marginal cost.
Volume, Share of Total, and Revenue by Customer
| Customer | Modeled Annual Volume | % of Total | Modeled Annual Revenue |
|---|---|---|---|
| SunBit Mining Corporation | 950,000 kWh | 44.2% | $38,000 |
| Kasper Transactions | 550,000 kWh | 25.6% | $27,500 |
| 9Core Compute | 400,000 kWh | 18.6% | $24,000 |
| DANI AI | 250,000 kWh | 11.6% | $20,000 |
| Total | 2,150,000 kWh | 100% | $109,500 |
Scroll horizontally to see all columns.
Figures may not sum exactly due to rounding. Because only SunBit Mining Corporation has commenced delivery as of this prospectus, actual current volume reflects only that agreement and the array's present sub-scale output.
Largely Fixed Costs That Don't Scale With Volume
| Category | Modeled Annual Cost |
|---|---|
| Land lease / property tax | $36,000 |
| Insurance | $4,500 |
| Operations & maintenance (inverters, panel cleaning, vegetation) | $6,000 |
| Metering, interconnection & compliance | $2,500 |
| Corporate administration & overhead allocation | $3,000 |
| Total Modeled Operating Expense | $52,000 |
Clay Electric Cooperative's net billing buyback (approx. 50 kWh, roughly 600 kWh/yr) is excluded from this schedule. It is a variable, unpublished avoided-cost credit paid to The Florida Sun, treated as immaterial to the model.
Modeled NOI Under Alternative Production Scenarios
Downside and upside cases scale modeled contracted revenue proportionally with production and hold modeled operating expense constant at $52,000; all three assume the array is at full capacity with all four agreements simultaneously live. Actual results during the current scale-up and staggered commencement period will be lower than any of these three scenarios.
| Scenario | Modeled Annual Production | Modeled Contracted Revenue | Modeled Net Operating Income |
|---|---|---|---|
| Downside case (−10% production) | ~1,935,000 kWh | $98,550 | $46,550 |
| Base case (management estimate) | 2,150,000 kWh | $109,500 | $57,500 |
| Upside case (+10% production) | ~2,365,000 kWh | $120,450 | $68,450 |
Scroll horizontally to see all columns.
MACRS, Bonus Depreciation & the Section 48E ITC
Under current federal law, utility-scale solar property like the flagship array is generally depreciated under the Modified Accelerated Cost Recovery System (MACRS) over a five-year recovery period. The One Big Beautiful Bill Act restored 100% first-year bonus depreciation for qualifying equipment placed in service after January 19, 2025, meaning The Florida Sun may be able to expense a substantial portion of the flagship array's depreciable basis in its first tax year, subject to at-risk and passive-activity limitations.
Separately, commercial solar projects may still qualify for the Section 48E federal Investment Tax Credit at a 30% rate, provided construction begins by July 4, 2026, and, because the flagship exceeds 1 MW AC, the project meets prevailing wage and apprenticeship requirements; projects that do not meet those requirements are limited to a lower 6% base credit rate. Management has not yet confirmed the flagship array's compliance status under these requirements, and any tax basis used for depreciation must be reduced by half of any investment tax credit claimed.
This is general information only, not tax advice. Sources: NuWatt Energy, “MACRS Accelerated Depreciation 2026: Complete Guide”; SurgePV, “Solar Tax Credit 2026: What Expired, What Remains, and How to Sell”, as referenced in the source prospectus.
Use of Proceeds (Illustrative)
Common Stock Only, Zero Shares Outstanding Today
| Total Authorized | 10,000,000 shares |
| Outstanding Pre-Offering | 0 |
| Offered This Placement | 1,500,000 shares |
| Price | $1.00/share |
| Target Raise | $1,500,000 |
| Equity Class | Single class common stock, no preferred |
| Reserved Post-Offering | 8,500,000 shares |
8,500,000 shares remain authorized and unissued for future financing rounds, a management/incentive pool, and Board-directed reserves. Florida Sun Farms is separately utilizing SBA loan financing, alongside this equity raise, to help fund the flagship's physical build-out.
C-Corporation: No K-1, Potential Double Taxation
Florida Sun Farms is organized as a C-Corporation and files IRS Form 1120. Common shareholders in this placement do not receive a Schedule K-1 and are not taxed directly on The Florida Sun's income; rather, The Florida Sun itself is taxed on its earnings at the corporate level, and shareholders are taxed separately on any dividends the Board declares and on any gain realized upon a future sale of their shares. A C-Corporation structure can result in two layers of taxation, once at the corporate level and again at the shareholder level, on the same underlying earnings if and when they are distributed.
This tax treatment note is general information only and is not intended as tax advice specific to any individual investor's circumstances.
Read the Complete Risk Register
Every modeled figure on this page assumes full ramp. Section X of the source prospectus, reproduced in full on the Risk & Rights page, details what could prevent that ramp from occurring.
View Risk Factors & Shareholder Rights