Compton Geotechnical Associates
Company Summary
CGA will be a limited liability partnership registered in the state of Delaware for tax purposes. Its founder is Mr. Martin Compton, a former engineering geology department head with Wilson and Brown, Inc. Mr. Compton has brought together a highly respected group of geologists, hydrologists, engineers and graphic art specialists who, combined, have a total of 35 years of experience with this industry.
The company has a limited number of private investors and does not plan to go public. The company has its main offices in Augusta, Maine. The facilities include a soil/rock and water testing 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 major construction companies, local and state governments, real estate companies and utility and water companies. By focusing on institutions such as these that have special needs, we believe we will be able to better serve our clients and produce a superior service that is more effective that other geo-engineering firms.
2.1 Company Ownership
The company will have a number of outside private investors who will own 27% of the company’s shares. The rest will be owned by the senior management including Mr. Martin Compton, (25%), Ms. Elizabeth Bathory (20%), Mr. David Gillen, (20%), and Mr. Jeremy Leither (8%). All other financing will come from loans.
2.2 Start-up Summary
Start-up assets required are shown below. This includes expenses and cash needed to support operations until revenues reach an acceptable level. Most of the company’s liabilities will come from outside private investors and management investment, however, we have obtained current borrowing from Bank of America Commercial Investments, the principal to be paid off in two years. A long-term loan through Charter Bank of Augusta will be paid off in ten years.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Insurance | $2,000 |
| Utilities | $200 |
| Rent | $3,000 |
| Accounting and bookkeeping fees | $2,000 |
| Expensed equipment | $8,000 |
| Advertising | $6,500 |
| Other | $8,000 |
| Total Start-up Expenses | $30,700 |
| Start-up Assets | |
| Cash Required | $104,800 |
| Other Current Assets | $3,500 |
| Long-term Assets | $25,000 |
| Total Assets | $133,300 |
| Total Requirements | $164,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $30,700 |
| Start-up Assets to Fund | $133,300 |
| Total Funding Required | $164,000 |
| Assets | |
| Non-cash Assets from Start-up | $28,500 |
| Cash Requirements from Start-up | $104,800 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $104,800 |
| Total Assets | $133,300 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $16,000 |
| Long-term Liabilities | $45,000 |
| Accounts Payable (Outstanding Bills) | $3,000 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $64,000 |
| Capital | |
| Planned Investment | |
| Mr. Martin Compton | $25,000 |
| Ms. Elizabeth Bathory | $20,000 |
| Mr. David Gillen | $20,000 |
| Mr. Jeremy Leither | $8,000 |
| Others | $27,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $100,000 |
| Loss at Start-up (Start-up Expenses) | ($30,700) |
| Total Capital | $69,300 |
| Total Capital and Liabilities | $133,300 |
| Total Funding | $164,000 |
By 
