Electronic Detectives will be a limited liability corporation registered in the state of Delaware for tax purposes. The company has a limited number of private investors and does not plan to go public. The company has its main offices in Portland, Oregon. The facilities include a computer forensics lab, conference rooms and office spaces. The company expects to begin offering its services in January of 2003.
The company's main clients will be law firms requiring identification, restoration, and analysis of electronic data. The firm offers a wide variety of services in order to reduce costs to our clients, which can reduce overall legal fees to individuals, firms and institutions.
The company will have a number of outside private investors who will own 47% of the company's shares. The rest will be owned by the senior management including Mr. David Radcliffe, (20%), Mrs. Julie Walters (10%), Mr. Brad Rinke (15%), and Mr. William Orcott (7%). All other financing will come from loans.
Total start-up requirements are $510,750 which includes a cash account of $341,550 to cover initial operating expenses prior to achieving the break-even level. The majority of our financing comes from investors, who are providing $297,000. Current borrowing will also provide $50,000 and there is long-term borrowing of $120,000.