HeavyMetal Praise Records
Company Summary
Heavy Metal Praise Records is a recording business that will focus exclusively on Christian Heavy Metal music groups.
2.1 Company Ownership
The sole founder and owner of Heavy Metal Praise Records is Johnny Young. Johnny is also a founding member of the Skate Ministry and a skateboarder for the last 20 years.
2.2 Start-up Summary
Heavy Metal Praise Records has the following start-up expenses and the purchase of equipment:
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Computer system with three workstations, a printer, CD-RW, Microsoft Office, and Microsoft Access.
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Legal fees regarding business formation and generating and reviewing contracts.
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Copier, fax, and a phone line.
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Various office supplies.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Stationery etc. | $100 |
| Rent | $0 |
| Other | $0 |
| Total Start-up Expenses | $1,100 |
| Start-up Assets | |
| Cash Required | $83,900 |
| Start-up Inventory | $0 |
| Other Current Assets | $15,000 |
| Long-term Assets | $0 |
| Total Assets | $98,900 |
| Total Requirements | $100,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $1,100 |
| Start-up Assets to Fund | $98,900 |
| Total Funding Required | $100,000 |
| Assets | |
| Non-cash Assets from Start-up | $15,000 |
| Cash Requirements from Start-up | $83,900 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $83,900 |
| Total Assets | $98,900 |
| 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 | |
| Johnny | $100,000 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $100,000 |
| Loss at Start-up (Start-up Expenses) | ($1,100) |
| Total Capital | $98,900 |
| Total Capital and Liabilities | $98,900 |
| Total Funding | $100,000 |
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