Artemide Auditing & Consulting AG
Company Summary
Artemide AC will be an ongoing company from the sole proprietorship company Sandor Artemide dipl. Wirtschaftsprüfer with the following characteristics:
- The goal will be to continue the activities on a larger personal and organizational basis, still with no debt financing.
- Artemide AC will assume operations of one of the Daten Riffwald-Ennetmoos AG’s divisions.
- Between the owners of Daten Riffwald-Ennetmoos and Artemide AC there will be a 25% cross-participation.
- The cooperation between Daten Riffwald-Ennetmoos and Artemide AC is flexible–with the objective to change rapidly if the market demands.
2.1 Company History
The sole proprietorship company “Sandor Artemide dipl. Wirtschaftsprüfer” was founded 8 March 1996. In the first 10-month period, the company generated sales of $50,000.
In the time of general recession, between 1996 and 2000, with a concentrated basis work, the owner created and assured his independent existence. The name Artemide was made known, and he has established a good professional reputation in Luzern.
Before starting his own business, Sandor Artemide acquired extensive professional experience as listed below:
- 5 years ATAG Graff & Altern in Geneva, Switzerland.
- 3 years Ziegfeld in Bern, Switzerland.
- 4 years KUGN in Bienne, Switzerland.
| Past Performance | |||
| 2000 | 2001 | 2002 | |
| Sales | $111,182 | $146,505 | $162,140 |
| Gross Margin | $111,182 | $145,347 | $138,977 |
| Gross Margin % | 100.00% | 99.21% | 85.71% |
| Operating Expenses | $43,430 | $46,325 | $49,221 |
| Collection Period (days) | 27 | 17 | 19 |
| Balance Sheet | |||
| 2000 | 2001 | 2002 | |
| Current Assets | |||
| Cash | $5,211 | $22,583 | $92,651 |
| Accounts Receivable | $8,107 | $5,211 | $11,581 |
| Other Current Assets | $579 | $1,158 | $1,158 |
| Total Current Assets | $13,897 | $28,952 | $105,390 |
| Long-term Assets | |||
| Long-term Assets | $5,211 | $5,211 | $6,948 |
| Accumulated Depreciation | $0 | $0 | $0 |
| Total Long-term Assets | $5,211 | $5,211 | $6,948 |
| Total Assets | $19,108 | $34,163 | $112,338 |
| Current Liabilities | |||
| Accounts Payable | $9,256 | $9,844 | $11,581 |
| Current Borrowing | $4,053 | $1,158 | $2,895 |
| Other Current Liabilities (interest free) | $0 | $0 | $0 |
| Total Current Liabilities | $13,309 | $11,002 | $14,476 |
| Long-term Liabilities | $0 | $0 | $0 |
| Total Liabilities | $13,309 | $11,002 | $14,476 |
| Paid-in Capital | $5,000 | $5,000 | $5,000 |
| Retained Earnings | $799 | $18,161 | $92,862 |
| Earnings | $0 | $0 | $0 |
| Total Capital | $5,799 | $23,161 | $97,862 |
| Total Capital and Liabilities | $19,108 | $34,163 | $112,338 |
| Other Inputs | |||
| Payment Days | 45 | 45 | 45 |
| Sales on Credit | $111,182 | $146,505 | $162,140 |
| Receivables Turnover | 13.71 | 28.11 | 14.00 |
2.2 Company Ownership
Artemide Auditing & Consulting AG will be incorporated in the city of Luzern by Sandor Artemide, who will be the majority owner. Twenty-five percent of the company will be owned by Daten Riffwald-Ennetmoos AG, the parent company.
2.3 Company Locations and Facilities
Artemide AC is established in a separate office from Daten Riffwald-Ennetmoos AG, in Luzern. Secretary and telephone response is assumed by Daten Riffwald-Ennetmoos. In the same building, on the first level, is established ATO Geistesblitz (sale and consulting of SMB software sage-KHK).
The structure is well established and satisfies the needs of both Daten Riffwald-Ennetmoos and Artemide AC. Both companies intend to optimize the office location in the future.
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