AgaMatrix, Inc.
Company Summary
AgaMatrix, Inc., which was incorporated in Delaware in 2001, is an early-stage venture offering proprietary Digital Signal Processing (DSP) technology that dramatically improves the functionality and performance of biosensor devices. AgaMatrix’s core DSP algorithms solve a number of immediate problems in the medical devices market by significantly boosting the performance of biosensors without costly specialized hardware and additional chemicals. Initially, the company will sell technology solutions to diagnostic medical device makers, specifically, manufacturers of home blood glucose monitors and hospital point-of-care blood analyzers. Future target healthcare segments include the immunoassay and implantable biosensor sectors. Its headquarters are located in Cambridge, Massachusetts.
2.1 Start-up Summary
AgaMatrix’s start-up costs amount to $4,900, which covers the initial expenses for opening the first office. These costs include incorporation of the company, design of the company logo and website, purchase of office and IT equipment, and other miscellaneous expenses. The start-up costs are financed by direct owner investment. The assumptions are detailed in the following table and illustration.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $400 |
| Stationery etc. | $200 |
| Brochures | $1,000 |
| Rent | $1,000 |
| Expensed Equipment | $2,000 |
| Other | $300 |
| Total Start-up Expenses | $4,900 |
| Start-up Assets | |
| Cash Required | $1,515,100 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $1,515,100 |
| Total Requirements | $1,520,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $4,900 |
| Start-up Assets to Fund | $1,515,100 |
| Total Funding Required | $1,520,000 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $1,515,100 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $1,515,100 |
| Total Assets | $1,515,100 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $15,000 |
| Accounts Payable (Outstanding Bills) | $5,000 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $20,000 |
| Capital | |
| Planned Investment | |
| Seed Round Pre-Plan | $500,000 |
| Series A | $1,000,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $1,500,000 |
| Loss at Start-up (Start-up Expenses) | ($4,900) |
| Total Capital | $1,495,100 |
| Total Capital and Liabilities | $1,515,100 |
| Total Funding | $1,520,000 |
2.2 Company Ownership
AgaMatrix is a privately-held Delaware corporation, subchapter C. It was created in 2001. Sonny Vu and Sridhar Iyengar, the company’s founders, own the majority of equity. Members of the board of directors and advisors also hold minority stock positions. All employees of the company are rewarded with stock compensation packages.
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