eDocFile develops electronic filing systems to assist the judicial branch of government in increasing efficiency through the use of Web based extranet technology. Our customers are 1) court systems who want to increase efficiency without a loss of security or control, and without large expenditures of time or capital, and 2) lawyers who want convenience and reliability when considering e-filing as an option.
2.1 Start-up Summary
After the beta version is completed, salaries, operating overhead and marketing expenses will kick in. We anticipate this happening in the second half of Year 1. Seed funding will be sought from angel investors.
|Research and Development||$95,000|
|Total Start-up Expenses||$143,500|
|Other Current Assets||$215,000|
|Start-up Expenses to Fund||$143,500|
|Start-up Assets to Fund||$556,500|
|Total Funding Required||$700,000|
|Non-cash Assets from Start-up||$215,000|
|Cash Requirements from Start-up||$341,500|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$341,500|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Friends and family||$200,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$700,000|
|Loss at Start-up (Start-up Expenses)||($143,500)|
|Total Capital and Liabilities||$556,500|
2.2 Company Ownership
eDocFile is a privately held New York S Corporation, we plan to file for incorporation in the state of Delaware shortly before product launch. Claire Xoe and Brian Sliver, both founders, share ownership equally. As the company increases in size, shares will be distributed among employees.