Seacliff Products
Company Summary
Seacliff is a start-up, limited-liability corporation, incorporated in the State of Oregon.
2.1 Company Ownership
The company is 80% owned by the founder and inventor of the Supreme, with the remaining shares owned by six individual investors.
2.2 Start-up Summary
To complete the necessary start-up funds, external financing must be obtained. The start-up table is itemized below.
Start-up Expenses: Various expenses, such as legal, travel, salaries, and design costs for the start of the plan.
Start-up Inventory: Prior to any sales, which are projected to begin in January, cash is needed to purchase materials included in the kit.
Long-term Assets: In addition to minor office equipment the major Long-term asset represents the purchase price of Patent Number 6,038,806.
Start-Up Funding: The inventor/founder has invested heavily in the company. Additional money has been invested by six individual investors. A further sum has been invested in a barter agreement in exchange for essential peg and graphic illustration work (see Design Preproduction Expenses). Between mid-October and the end of December, a final sum is expected to be raised from sale of stock to individual investors.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $6,000 |
| Printing/Reproduction | $3,000 |
| Salaries | $7,000 |
| Prototype | $7,500 |
| Utilities | $2,000 |
| Graphic Design | $29,500 |
| Misc expenses, Travel, Enter. | $7,900 |
| Tooling | $20,350 |
| Other | $0 |
| Total Start-up Expenses | $83,250 |
| Start-up Assets | |
| Cash Required | $20,000 |
| Start-up Inventory | $58,530 |
| Other Current Assets | $0 |
| Long-term Assets | $483,425 |
| Total Assets | $561,955 |
| Total Requirements | $645,205 |
| Start-up Funding | |
| Start-up Expenses to Fund | $83,250 |
| Start-up Assets to Fund | $561,955 |
| Total Funding Required | $645,205 |
| Assets | |
| Non-cash Assets from Start-up | $541,955 |
| Cash Requirements from Start-up | $20,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $20,000 |
| Total Assets | $561,955 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $100,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $100,000 |
| Capital | |
| Planned Investment | |
| Founder/President | $482,000 |
| Individual Investors (6) | $26,000 |
| Design & Consultant Barter Stock | $27,000 |
| Other | $10,205 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $545,205 |
| Loss at Start-up (Start-up Expenses) | ($83,250) |
| Total Capital | $461,955 |
| Total Capital and Liabilities | $561,955 |
| Total Funding | $645,205 |
2.3 Company Locations and Facilities
The company is located in Florence, Oregon, where there is adequate storage and office space available.
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