E3 Playhouse
Company Summary
E3 Playhouse is in a start-up position, with a beginning date of July 2004. The company expects to lease venue space in June 2004, a three-month build-out of the space. We anticipate opening our doors to the public in mid-September. The company is on a July through June fiscal year.
2.1 Company Ownership
Established in 2004, E3 Playhouse is operated as a ‘dba’ under the ownership of Equal Time Music, Incorporated. Equal Time Music, Inc. is a California “S” Corporation owned by Wes Anthony. As an “S” Corporation, profits of the corporation ‘pass-through’ to the corporate owner. The owner will pay taxes on the company profits on his personal tax returns.
2.2 Start-up Summary
The corporate owner has contributed $40,260 in paid-in capital for the initial development of E3 Playhouse. Start-up expenses include accounting; legal; consulting services; research and development;and expensed equipment. The company’s start-up position reflects a loss of ($39,260), and total capital and liabilities of $1,000.
The following table summarizes the company’s start-up position.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Accounting | $3,500 |
| Legal | $500 |
| Marketing Collateral (bcards, brochures, etc.) | $500 |
| Financial Consultant | $5,000 |
| Rent | $5,760 |
| Research and Development (Time & Expenses) | $9,000 |
| Expensed Equipment | $15,000 |
| Other | $0 |
| Total Start-up Expenses | $39,260 |
| Start-up Assets | |
| Cash Required | $1,000 |
| Start-up Inventory | $0 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $1,000 |
| Total Requirements | $40,260 |
| Start-up Funding | |
| Start-up Expenses to Fund | $39,260 |
| Start-up Assets to Fund | $1,000 |
| Total Funding Required | $40,260 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $1,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $1,000 |
| Total Assets | $1,000 |
| 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 | |
| Owner Paid-In Capital | $40,260 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $40,260 |
| Loss at Start-up (Start-up Expenses) | ($39,260) |
| Total Capital | $1,000 |
| Total Capital and Liabilities | $1,000 |
| Total Funding | $40,260 |
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