December 5, 2015 Maple Room, Leela Hotel, New Delhi, India Treasurer’s Report December 5, 2015 Maple Room, Leela Hotel, New Delhi, India

Treasurer’s Report Eng. Tarek Monem Taha

Comparative Income Statement (1/2) For the Ten Months Ended October 31, 2015 and 2014 Jan - Oct 15 (A) Jan - Oct 14 (B) Variation (A-B) Ordinary Income/Expense Income Total 45000 · Investments 1,667.90 2,612.57 (944.67) 46436 · Corporate Advisory Committee 51,250.00 60,000.00 (8,750.00) Total 46400 · Other Types of Income 51,350.00 60,100.00 47230 · Membership Dues 61,250.00 63,075.00 (1,825.00) 47240 · Global Partner Program 41,666.64 37,499.94 4,166.70 Total Income 155,934.54 170,287.51 (14,352.00)

Comparative Income Statement (2/2) For the Ten Months Ended October 31, 2015 and 2014 Jan - Oct 15 (A) Jan - Oct 14 (B) Variations (A-B) Expense Total 60925 · Bank Charges 2,205.59 2,616.00 (410.41) 62110 · Accounting Fees 10,615.00 19,040.00 (8,425.00) 62140 · Legal Fees 3,135.00 9,775.00 (6,640.00) 62160 · Consulting 34,738.30 44,015.55 (9,277.25) Total 62100 · Contract Services 48,488.30 72,830.55 (24,342.25) Total 62800 · Facilities and Equipment 1,470.00 7,000.00 (5,530.00) Total 65000 · Operations 11,610.05 16,365.77 (4,755.72) Total 65100 · Other Types of Expenses 3,855.98 1,648.64 2,207.34 Total 66005 · Salaries 279,234.73 275,047.30 4,187.43 Total 66000 · Payroll Expenses 325,957.58 328,283.23 (2,325.65) Total 68300 · Travel and Meetings 39,706.18 58,535.01 (18,828.83) 69000 · Contingency 4,000.00 425.00 3,575.00 Total Expense 437,293.68 487,704.20 (50,410.52) Net Ordinary Income -281,359.14 -317,416.69 36,057.55 Net Income

Summary Balance Sheet (1/2) As of October 31, 2015 ASSETS Current Assets Checking/Savings 10000 · Wells Fargo Busi Cash Mgr 9184 92,562.28 10021 · Wells Fargo Busi Perf Sav 5199 -4.70 10026 · Capital One Bank MMA 94,447.39 Total Checking/Savings 187,004.97 Accounts Receivable 11000 · Accounts Receivable 360,510.00 Total Accounts Receivable Other Current Assets 11050 · Allowance for Doubtful Accounts -285,000.00 13000 · Prepaid Expenses 13005 · Prepaid Insurance 4,643.06 13010 · Travel Advance & AirfareCredits 4,732.34 13020 · Other Prepaid 2,829.11 Total 13000 · Prepaid Expenses 12,204.51 13500 · Investments - CD's 13503 · Middleburg Bank CD - 36 Months 106,841.63 13505 · Middleburg Bank CD - 12 Months 151,123.38 13515 · Interest Receivable 60.25 Total 13500 · Investments - CD's 258,025.26 Total Other Current Assets -14,770.23 Total Current Assets 532,744.74 Fixed Assets 15000 · Fixed Assets 15005 · Computers & Other Equipment 4,516.48 15507 · Accumulated Depreciation -513.71 Total 15000 · Fixed Assets 4,002.77 Total Fixed Assets TOTAL ASSETS 536,747.51

Summary Balance Sheet (2/2) As of October 31, 2015 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 20000 · Accounts Payable 1,140.00 Total Accounts Payable Credit Cards 21000 · American Express 217.08 21500 · Chase Visa 379.53 Total Credit Cards 596.61 Other Current Liabilities 24200 · Accrued Expense 14,669.42 24400 · Accrued Payroll 10,294.37 24500 · Accrued Vacation 13,481.30 25800 · Unearned or Deferred Revenue 25810 · Unearned Dues 11,500.00 25830 · Corporate Advisory 30,000.00 25845 · Global Partner 7,291.77 Total 25800 · Unearned or Deferred Revenue 48,791.77 Total Other Current Liabilities 87,236.86 Total Current Liabilities 88,973.47 Total Liabilities Equity 32000 · Unrestricted Net Assets 729,133.18 Net Income -281,359.14 Total Equity 447,774.04 TOTAL LIABILITIES & EQUITY 536,747.51 Taiwan, Armenia (WCIT Payments) 550,000.00 Total 1,086,747.51

Accounts Receivable Listing As of October 31, 2015 Dues - 2015 Dues - 2014 Dues - 2013 Special Events TOTAL Afghanistan 275.00 0.00 550.00 Belarus 1,275.00 Brazil – Assespro 5,025.00 Canada 285,035.00 290,060.00 Chile 525.00 ITI 10,025.00 Lebanon 5,550.00 Lithuania South Africa Spain Thailand Other members 24,025.00 3,150.00 27,450.00 Total 45,275.00 3,425.00 5,300.00 344,060.00 Total minus Canada 54,000.00

Status on WCIT Licensing Fees 2016 Brasil Fee 750K (Paid in full) 2017 Taiwan 2018 India Fee 750K Government (Hyderabad) announced full funding-NASSCOM (India Tax Resolved) 2019 Armenia Fee 750K, Paid 100K 2020 Malaysia Fee 750K PIKOM  

2016 Budget BUDGET CASH IN HAND EOY Revenue difference is explained by Taiwan’s large 2015 $450k payment for WCIT 2017 Higher expenses in 2016 relate to consulting fees for PP, a 3.6% salary increase to Anders and higher travel expenses related to annual WCITs activity WITSA will have close to one million USD cash in hand BYE16 Cash in Hand projections beyond 2016, is still prety much in line with projections dated February 2015 BUDGET 2015 2016 Difference Revenue $848,000 $566,745 $(281,255) Expenses $576,922 $597,324 $20,402 Net Income $271,077 $(31,579) $(302,656) Cash in Hand EOY $935,030 $920,000 $(15,030) CASH IN HAND EOY WITSA Cash Flow Analysis 2015-2020 Dec 2014 2015 2016 2017 2018 2019 2020 Cash on Hand EOY $776,519 $1,021,519 $991,519 $1,209,519 $1,399,519 $1,339,519 $1,254,519 Note: For full budget figures refer to Attachment D

Comparison of 2015 & 2016 Budgets (1/3) Variance Ordinary Income/Expense Income 45000 · Investments 45030 · Interest Income 3,000.00 5,745.00 2,745.00 Total 45000 · Investments 46400 · Other Types of Income 46430 · Miscellaneous Revenue 46436 · Corporate Advisory Committee 75,000.00 60,000.00 -15,000.00 Total 46400 · Other Types of Income 47200 · Program Income 47230 · Membership Dues 70,000.00 50,000.00 -20,000.00 47240 · Global Partner Program 0.00 Total 47200 · Program Income 120,000.00 100,000.00 49000 · Special Events Income 49012 · WCIT Licensing Fee 2017 450,000.00 -450,000.00 49013 · WCIT Licensing Fee 2018 250,000.00 150,000.00 49014 · WCIT Licensing Fee 2019 Total 49000 · Special Events Income 650,000.00 400,000.00 -250,000.00 Total Income 848,000.00 565,745.00 -282,255.00 Gross Profit

Comparison of 2015 & 2016 Budgets (2/3) Variance Expense 60925 · Bank Charges 60930 · Wire Fees 60925 · Bank Charges - Other 3,600.00 0.00 Total 60925 · Bank Charges 62100 · Contract Services 62110 · Accounting Fees 32,500.00 Administrative Support 45,000.00 62140 · Legal Fees 8,000.00 5,000.00 -3,000.00 62160 · Consulting 71,331.16 40,000.00 -31,331.16 Total 62100 · Contract Services 111,831.16 122,500.00 10,668.84 62800 · Facilities and Equipment 62890 · Rent, Parking, Utilities Total 62800 · Facilities and Equipment 65000 · Operations 65010 · Books,Subscriptions, Ref 127.00 65020 · Postage, Mailing Service 100.00 125.00 25.00 65030 · Printing and Copying 65040 · Supplies 600.00 1,200.00 65050 · Telecommunications 8,100.00 7,000.00 -1,100.00 65051 · Data Backup 192.00 350.00 158.00 65052 · Website Upgrade & Database 1,000.00 65055 · ADP Payroll Fees 4,200.00 4,400.00 200.00 Total 65000 · Operations 14,419.00 14,302.00 -117.00

Comparison of 2015 & 2016 Budgets (3/3) Variance Expense 65100 · Other Types of Expenses 65120 · Insurance - Chubb, Liab.D and O 4,080.00 3,600.00 -480.00 65150 · Memberships and Dues 2,500.00 1,000.00 -1,500.00 65155 · Meals & Entertainment 650.00 660.00 10.00 Total 65100 · Other Types of Expenses 7,230.00 5,260.00 -1,970.00 66000 · Payroll Expenses 66005 · Salaries Salary Anders 94,011.06 97,428.72 3,417.66 Salary Poisant 240,685.89 240,686.37 0.48 Total 66005 · Salaries 334,696.95 338,115.09 3,418.14 66007 · Payroll Taxes 18,057.29 18,708.74 651.45 66008 · Workmans Compensation Insurance 600.00 720.00 120.00 66015 · Life & Disability Insurance 7,318.46 6,996.96 -321.50 66020 · Health & Dental Insurance 12,935.00 15,216.00 2,281.00 66025 · 401K WITSA Contribution 16,734.85 16,905.75 170.90 Total 66000 · Payroll Expenses 390,342.55 396,662.54 6,319.99 68300 · Travel and Meetings 68310 · Conference, Convention, Meeting 2,000.00 5,000.00 3,000.00 68320 · Travel-Poisant 26,000.00 27,000.00 68322 · Travel-Anders 5,500.00 12,000.00 6,500.00 68323 · Travel - Other 11,000.00 6,000.00 -5,000.00 Total 68300 · Travel and Meetings 44,500.00 50,000.00 69000 · Contingency 0.00 Total Expense 576,922.71 597,324.54 20,401.83 Net Ordinary Income 271,077.29 -31,579.54 -302,656.83 Net Income

Thank You