Medquip, Inc.

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Medical Equipment Developer Business Plan

Appendix

Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales
Visi-Band (direct) 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $16,250 $19,500 $26,000
Visi-Band (distributor) 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $32,500 $39,000 $65,000
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $48,750 $58,500 $91,000
Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Visi-Band (direct) $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,250 $3,900 $5,200
Visi-Band (distributor) $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,025 $14,430 $24,050
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,275 $18,330 $29,250
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Production Personnel
Production Manager $0 $0 $0 $0 $0 $0 $0 $0 $5,000 $5,000 $5,000 $5,000
Assembly Workers $0 $0 $0 $0 $0 $0 $0 $0 $6,000 $6,000 $6,000 $6,000
Subtotal $0 $0 $0 $0 $0 $0 $0 $0 $11,000 $11,000 $11,000 $11,000
Sales and Marketing Personnel
VP Sales & Marketing $0 $0 $0 $0 $0 $0 $0 $0 $7,500 $7,500 $7,500 $7,500
Sales Manager $0 $0 $0 $0 $0 $0 $0 $0 $5,000 $5,000 $5,000 $5,000
Field Sales Mgr. $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Marketing/Product Mgr. $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales Reps (3) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales Administrator $0 $0 $0 $0 $0 $0 $0 $0 $2,000 $2,000 $2,000 $2,000
Subtotal $0 $0 $0 $0 $0 $0 $0 $0 $14,500 $14,500 $14,500 $14,500
General and Administrative Personnel
CEO $0 $0 $0 $0 $0 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
VP Corp Development $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500
CFO $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Executive Assistant $0 $0 $0 $0 $0 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400
Executive Secretary $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Controller $0 $0 $0 $0 $0 $3,600 $3,600 $3,600 $3,600 $3,600 $3,600 $3,600
Administrative Staff (4) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $3,500 $3,500 $3,500 $3,500 $3,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500
Other Personnel
VP Research & Dev. $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $3,500
Design Engineer $0 $0 $0 $0 $0 $0 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Compliance Specialist $0 $0 $0 $0 $0 $0 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Junior Engineer $0 $0 $0 $0 $0 $0 $0 $0 $4,000 $4,000 $4,000 $4,000
Research Engineers (3) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $14,500 $14,500 $18,500 $18,500 $18,500 $18,500
Total People 0 0 0 0 0 0 0 0 0 0 0 0
Total Payroll $7,000 $7,000 $7,000 $7,000 $7,000 $21,000 $32,000 $32,000 $61,500 $61,500 $61,500 $61,500
Pro Forma Profit and Loss
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $48,750 $58,500 $91,000
Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,275 $18,330 $29,250
Production Payroll $0 $0 $0 $0 $0 $0 $0 $0 $11,000 $11,000 $11,000 $11,000
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $11,000 $26,275 $29,330 $40,250
Gross Margin $0 $0 $0 $0 $0 $0 $0 $0 ($11,000) $22,475 $29,170 $50,750
Gross Margin % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 46.10% 49.86% 55.77%
Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $0 $0 $0 $0 $0 $0 $0 $0 $14,500 $14,500 $14,500 $14,500
Advertising/Promotion $0 $0 $0 $0 $0 $0 $0 $0 $4,000 $4,000 $4,000 $4,000
Travel $0 $0 $0 $0 $5,000 $0 $0 $0 $2,000 $2,000 $2,000 $2,000
Miscellaneous $0 $0 $0 $0 $0 $0 $0 $0 $1,500 $1,500 $1,500 $1,500
Total Sales and Marketing Expenses $0 $0 $0 $0 $5,000 $0 $0 $0 $22,000 $22,000 $22,000 $22,000
Sales and Marketing % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 45.13% 37.61% 24.18%
General and Administrative Expenses
General and Administrative Payroll $3,500 $3,500 $3,500 $3,500 $3,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500
Marketing/Promotion $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $400,000 $0 $0 $0 $600,000
Rent $2,325 $2,325 $2,325 $2,325 $2,325 $2,325 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Utilities $0 $0 $0 $250 $250 $250 $250 $800 $800 $800 $800 $800
Insurance $0 $0 $0 $3,000 $3,000 $3,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Legal Expenses 0% $1,050 $9,890 $8,123 $10,000 $10,000 $8,000 $4,800 $4,800 $9,225 $9,225 $9,225 $9,225
Payroll Taxes 15% $1,050 $1,050 $1,050 $1,050 $1,050 $3,150 $4,800 $4,800 $9,225 $9,225 $9,225 $9,225
Other General and Administrative Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General and Administrative Expenses $7,925 $16,765 $14,998 $20,125 $20,125 $34,225 $39,850 $440,400 $49,250 $49,250 $49,250 $649,250
General and Administrative % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 101.03% 84.19% 713.46%
Other Expenses:
Other Payroll $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 $14,500 $14,500 $18,500 $18,500 $18,500 $18,500
Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract/Consultants $0 $0 $3,000 $0 $0 $0 $0 $0 $3,000 $3,000 $3,000 $3,000
Total Other Expenses $3,500 $3,500 $6,500 $3,500 $3,500 $3,500 $14,500 $14,500 $21,500 $21,500 $21,500 $21,500
Other % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 44.10% 36.75% 23.63%
Total Operating Expenses $11,425 $20,265 $21,498 $23,625 $28,625 $37,725 $54,350 $454,900 $92,750 $92,750 $92,750 $692,750
Profit Before Interest and Taxes ($11,425) ($20,265) ($21,498) ($23,625) ($28,625) ($37,725) ($54,350) ($454,900) ($103,750) ($70,275) ($63,580) ($642,000)
EBITDA ($11,425) ($20,265) ($21,498) ($23,625) ($28,625) ($37,725) ($54,350) ($454,900) ($103,750) ($70,275) ($63,580) ($642,000)
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,000
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($11,425) ($20,265) ($21,498) ($23,625) ($28,625) ($37,725) ($54,350) ($454,900) ($103,750) ($70,275) ($63,580) ($647,000)
Net Profit/Sales 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -144.15% -108.68% -710.99%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $17,063 $20,475 $31,850
Cash from Receivables $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,056 $31,899
Subtotal Cash from Operations $0 $0 $0 $0 $0 $0 $0 $0 $0 $17,063 $21,531 $63,749
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $600,000
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $600,000
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $450,000 $400,000 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $0 $0 $0 $0 $450,000 $400,000 $0 $0 $0 $17,063 $21,531 $1,263,749
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $7,000 $7,000 $7,000 $7,000 $7,000 $21,000 $32,000 $32,000 $61,500 $61,500 $61,500 $61,500
Bill Payments $148 $4,720 $13,306 $14,569 $16,792 $21,462 $16,913 $35,702 $410,212 $43,268 $72,495 $84,428
Subtotal Spent on Operations $7,148 $11,720 $20,306 $21,569 $23,792 $42,462 $48,913 $67,702 $471,712 $104,768 $133,995 $145,928
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $7,148 $11,720 $20,306 $21,569 $23,792 $42,462 $48,913 $67,702 $471,712 $104,768 $133,995 $145,928
Net Cash Flow ($7,148) ($11,720) ($20,306) ($21,569) $426,208 $357,538 ($48,913) ($67,702) ($471,712) ($87,706) ($112,463) $1,117,821
Cash Balance $120,853 $109,133 $88,827 $67,258 $493,466 $851,005 $802,092 $734,390 $262,679 $174,973 $62,510 $1,180,331
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $128,000 $120,853 $109,133 $88,827 $67,258 $493,466 $851,005 $802,092 $734,390 $262,679 $174,973 $62,510 $1,180,331
Accounts Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,688 $68,656 $95,908
Inventory $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,275 $18,330 $29,250
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $128,000 $120,853 $109,133 $88,827 $67,258 $493,466 $851,005 $802,092 $734,390 $262,679 $221,935 $149,496 $1,305,488
Long-term Assets
Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets $128,000 $120,853 $109,133 $88,827 $67,258 $493,466 $851,005 $802,092 $734,390 $262,679 $221,935 $149,496 $1,305,488
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $4,278 $12,823 $14,015 $16,071 $20,904 $16,167 $21,605 $408,803 $40,842 $70,373 $61,514 $664,506
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $600,000
Subtotal Current Liabilities $0 $4,278 $12,823 $14,015 $16,071 $20,904 $16,167 $21,605 $408,803 $40,842 $70,373 $61,514 $1,264,506
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $600,000
Total Liabilities $0 $4,278 $12,823 $14,015 $16,071 $20,904 $16,167 $21,605 $408,803 $40,842 $70,373 $61,514 $1,864,506
Paid-in Capital $258,000 $258,000 $258,000 $258,000 $258,000 $708,000 $1,108,000 $1,108,000 $1,108,000 $1,108,000 $1,108,000 $1,108,000 $1,108,000
Retained Earnings ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000) ($130,000)
Earnings $0 ($11,425) ($31,690) ($53,188) ($76,813) ($105,438) ($143,163) ($197,513) ($652,413) ($756,163) ($826,438) ($890,018) ($1,537,018)
Total Capital $128,000 $116,575 $96,310 $74,812 $51,187 $472,562 $834,837 $780,487 $325,587 $221,837 $151,562 $87,982 ($559,018)
Total Liabilities and Capital $128,000 $120,853 $109,133 $88,827 $67,258 $493,466 $851,005 $802,092 $734,390 $262,679 $221,935 $149,496 $1,305,488
Net Worth $128,000 $116,575 $96,310 $74,812 $51,187 $472,562 $834,837 $780,487 $325,587 $221,837 $151,562 $87,982 ($559,018)