Michael's Video Service
Company Summary
Legal Business Description
Michael’s Video Service was founded in May 1996 by Mr. Michael Morrison. Michael’s Video Service is a Limited Liability Company (LLC) with principal offices located in Denton, Ohio.
| Start-up Funding | |
| Start-up Expenses to Fund | $15,000 |
| Start-up Assets to Fund | $302,000 |
| Total Funding Required | $317,000 |
| Assets | |
| Non-cash Assets from Start-up | $242,000 |
| Cash Requirements from Start-up | $60,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $60,000 |
| Total Assets | $302,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $300,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $300,000 |
| Capital | |
| Planned Investment | |
| Michael Morisson | $17,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $17,000 |
| Loss at Start-up (Start-up Expenses) | ($15,000) |
| Total Capital | $2,000 |
| Total Capital and Liabilities | $302,000 |
| Total Funding | $317,000 |
2.1 Mission
Our mission is to become the leading freelance and video production company in state, utilizing the latest technology to shift market share from competitors to Michael’s Video Service.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $500 |
| Stationery etc. | $200 |
| Brochures | $300 |
| Consultants | $1,000 |
| Insurance | $1,200 |
| Rent | $600 |
| Expensed equipment | $10,000 |
| Other | $1,200 |
| Total Start-up Expenses | $15,000 |
| Start-up Assets | |
| Cash Required | $60,000 |
| Start-up Inventory | $2,000 |
| Other Current Assets | $0 |
| Long-term Assets | $240,000 |
| Total Assets | $302,000 |
| Total Requirements | $317,000 |
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