DocBuzz, Inc.
Company Summary
Experienced physicians founded DocBuzz, Inc., as a company providing high-level expertise in e-detailing of pharmaceutical, biotechnical products and medical equipment to physicians and other medical professionals. It serves to capitalize the growing number of small and mid-sized companies as well as established larger companies to improve upon the awareness of pharmaceutical products and to increase the written prescription pattern of such products.
2.1 Company Ownership
DocBuzz, Inc., is a privately held Delaware corporation. Robert E. Rayder, MD, FAAP and Michael Y. Wu, MD, FAAP, are the founders and managing partners.
2.2 Start-up Summary
Total start-up expense (including legal cost, logo design, stationery and related expenses) comes to $99,000. The table below illustrates a complete breakdown of all start-up assets that are needed, as total start-up requirements. Currently, we have no short-term liabilities.
| Start-up Funding | |
| Start-up Expenses to Fund | $99,000 |
| Start-up Assets to Fund | $309,000 |
| Total Funding Required | $408,000 |
| Assets | |
| Non-cash Assets from Start-up | $5,000 |
| Cash Requirements from Start-up | $304,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $304,000 |
| Total Assets | $309,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $0 |
| Capital | |
| Planned Investment | |
| Investor 1 | $158,000 |
| Investor 2 | $250,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $408,000 |
| Loss at Start-up (Start-up Expenses) | ($99,000) |
| Total Capital | $309,000 |
| Total Capital and Liabilities | $309,000 |
| Total Funding | $408,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $20,000 |
| Brochures | $7,500 |
| Consultants | $20,000 |
| Insurance | $2,500 |
| Rent | $10,000 |
| Research and Development | $5,000 |
| Expensed Equipment | $30,000 |
| Other | $1,000 |
| Total Start-up Expenses | $99,000 |
| Start-up Assets | |
| Cash Required | $304,000 |
| Other Current Assets | $5,000 |
| Long-term Assets | $0 |
| Total Assets | $309,000 |
| Total Requirements | $408,000 |
2.3 Company Locations and Facilities
DocBuzz, Inc., currently occupies a shared office space at 2476 North University Drive, Pembroke Pines, FL 33024. The current office provides sufficient space to launch the project; however, prior to implementation, separate facilities with easy access, and the ability to have the T-1 or T-4 connections will be required to implement our Internet program, which is the backbone of our business.
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