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.
|Misc expenses, Travel, Enter.||$7,900|
|Total Start-up Expenses||$83,250|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$83,250|
|Start-up Assets to Fund||$561,955|
|Total Funding Required||$645,205|
|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|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Individual Investors (6)||$26,000|
|Design & Consultant Barter Stock||$27,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$545,205|
|Loss at Start-up (Start-up Expenses)||($83,250)|
|Total Capital and Liabilities||$561,955|
2.3 Company Locations and Facilities
The company is located in Florence, Oregon, where there is adequate storage and office space available.