Web Applications, Inc.
Company Summary
Web Applications, Inc. was established in 1998 to provide a Web-based business application with features that give users the ability to remain in touch with operations at all times from anywhere in the world. The company was formed by Mr. Lester Andrews and is a Georgia incorporated S-Corporation.
2.1 Start-up Summary
Start-up costs, expenses and funding sources are laid out in the tables and chart below.
| Start-up Funding | |
| Start-up Expenses to Fund | $60,100 |
| Start-up Assets to Fund | $57,500 |
| Total Funding Required | $117,600 |
| Assets | |
| Non-cash Assets from Start-up | $5,000 |
| Cash Requirements from Start-up | $52,500 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $52,500 |
| Total Assets | $57,500 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $1,000 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $1,000 |
| Capital | |
| Planned Investment | |
| Investor 1 | $15,000 |
| Investor 2 | $101,600 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $116,600 |
| Loss at Start-up (Start-up Expenses) | ($60,100) |
| Total Capital | $56,500 |
| Total Capital and Liabilities | $57,500 |
| Total Funding | $117,600 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $500 |
| Stationery etc. | $300 |
| Sales Campaign | $5,000 |
| Dynamic Communications fees | $4,200 |
| Phone Lines | $800 |
| Rent | $800 |
| Hardware | $23,500 |
| Software | $25,000 |
| Total Start-up Expenses | $60,100 |
| Start-up Assets | |
| Cash Required | $52,500 |
| Other Current Assets | $5,000 |
| Long-term Assets | $0 |
| Total Assets | $57,500 |
| Total Requirements | $117,600 |
2.2 Financial Risks and Contingencies
The company recognizes that it is subject to both market and industry risks. We believe our risks are as follows, and we are addressing each as indicated.
- Start-up company. We face all the risks associated with being a start-up company. We feel that we can overcome these with our experience in the industry and by quickly establishing desired relationships.
- Security. Security is a major issue, but all features provide security options; documents and directories can be password-protected and have specific, user-only access rights.
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