l-1a visa sample (online publication) masterplans.com

WHAT’S NEWS USA, LLC B u s i n e s s P l a n

applicant Madeleine Burnham, Chief Editor direct line 877-453-2011 x.116

email [email protected]

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CONFIDENTIAL – Do Not Distribute Without Permission

What’s News USA, LLC

2

THIS IS A SAMPLE BUSINESS PLAN

This file was created by redacting an actual business plan MasterPlans wrote for a client seeking an L-type visa in 2015. All client information

and propriety content has been removed. As such, the business model, managers and financial pro forma herein are entirely theoretical – only the structure of the plan itself and portions of the market and industry

research remain “real”.

www.masterplans.com

http://masterplans.com/business-plans-for-immigration-visas.php

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EXECUTIVE SUMMARY ....................................................................................................4

U.S. COMPANY DETAILS .................................................................................................6

Company Ownership .................................................................................................. 6 Company Location ...................................................................................................... 6

FOREIGN COMPANY DETAILS ...........................................................................................7

Foreign Company Ownership ..................................................................................... 7

Foreign Company Location ......................................................................................... 7 Description of Business Activity .................................................................................. 7

APPLICANT’S ROLE & COMPANY MANAGEMENT ...................................................................9

Applicant Information and Job Title ............................................................................. 9

Applicant Qualifications ............................................................................................... 9 Applicant Biography .................................................................................................... 9

Applicant Job Description.......................................................................................... 10 Organizational Chart ................................................................................................. 11 Staff Job Descriptions ............................................................................................... 11

BUSINESS DESCRIPTION ............................................................................................... 14

MARKET ANALYSIS SUMMARY ...................................................................................... 15

Market Segmentation ................................................................................................ 15 Industry Analysis ....................................................................................................... 16 Competitors ............................................................................................................... 17

Competitive Edge ...................................................................................................... 18

MARKETING SUMMARY ............................................................................................... 19

Objectives ................................................................................................................. 19 Marketing Strategy .................................................................................................... 19

Sales Strategy ........................................................................................................... 21

FINANCIAL PROJECTIONS.............................................................................................. 23

APPENDIX: YEAR 1 FINANCIAL PROJECTIONS BY MONTH ...................................................... 32

TABLE OF CONTENTS

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What’s News USA, LLC (also referred to as “the Company” and “What’s News USA”) is a new U.S.-based magazine publication that is the latest venture from What’s News Publishing, Ltd. (also referred to as “WN Publishing” and “The Foreign Company”). WN Publishing is a media group from the United Kingdom that has established an international reputation for leadership and excellence in the online and print magazine publishing industry. What’s News USA is formed as WN Publishing’s initial entry to United States market. The Company will be headquartered in New York and will produce and publish original, high-quality content on the arts and entertainment industry, fashion, celebrities, and the film industry in the United States. What’s News USA will produce and feature content entirely online. The Company will be led by Chief Executive Editor Madeleine Burnham (Ms. Burnham). An experienced media professional who has worked at WN Publishing since 2006, Ms. Burnham will bring a unique combination of industry knowledge, new media expertise, and proven leadership qualities to her role at What’s News USA. Ms. Burnham currently serves as the Managing Editor of What’s News UK, one of WN Publishing’s flagship publications; previously, she was the Managing Editor of Daily Life UK magazine. Over the course of her 20 year career in journalism and media management, Ms. Burnham has consistently displayed her business acumen and vision making her an ideal candidate to lead WN Publishing’s United States launch.

EXECUTIVE SUMMARY

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What’s News USA will operate in the thriving, nearly $40 billion Internet Publishing and Broadcasting industry. Over the last five years, this industry saw revenue balloon at a compound annual growth rate (CAGR) of 9.6%; moving forward, growth of 5.6% per annum is expected, driving projected revenue to $51.7 billion by 2020. Celebrity and entertainment news websites are major online traffic centers, a fact that also means they are major targets for big-dollar advertising. What’s News USA will target readers living in the United States, as well as those residing abroad, who are interested in U.S. art, fashion, and entertainment. What’s News USA will compete directly with other online media properties, such as Us Weekly, Gawker, and TMZ. The Company will find a niche within this market with a site design that filters articles for readers based on that reader’s topics of interest. To promote the Company and grow the number of readers and advertisers, What’s News USA will use a broad range of online and offline tactics, including search engine optimization, internet advertising, banner ads, networking, active use of social media, public relations, print media advertisements, established relationships, earned media, and celebrity endorsements. What’s News USA also plans to leverage the enormous readership of its parent firm’s other media properties to drive traffic to its site. Through these methods, the Company aims to quickly establish a strong position in the U.S. market, grow its staff significantly, and lay the groundwork for its continued expansion. The Company will be funded by $250,000 in investment from the Foreign Company, WN Publishing. What’s News USA expects initial development and site design to span approximately six months. Ms. Burnham’s presence is required during this development period to guide the structure, vision, and design of the Company’s online presence and content while also managing the hiring of an editorial team and staff. After the launch of the online publication, Ms. Burnham will function as the Company’s Chief Executive Editor, providing direct oversight to the publication’s managing editors while also guiding the Company’s growth and development.

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What’s News USA Corporation is registered in the state of Delaware. The Company was formed on September 3, 2013.

Company Ownership The Company is wholly (100%) owned by What’s News Publishing, Ltd.

Company Location

Establishing a physical presence in the United States is necessary to gain better access to the stories that will matter most to readers. A headquarters in New York City also provides the Company with better opportunity to do business with potential advertisers as well as news affiliates. A physical presence in the United States not only gives What’s News USA invaluable access to both its readership and beat, but also confers legitimacy to its operations as New York is a hub of the U.S. film and entertainment industry. This location will allow Ms. Burnham and other What’s News USA’s staff to stay in direct contact with their audience, advertisers, and the Foreign Company’s main office in the United Kingdom. The Company will initially establish its physical office the following address:

325 W 35th Street New York, New York, 10001

U.S. COMPANY DETAILS

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Foreign Company Ownership WN Publishing is owned by Smith Barnett Investments (85%) and the Estate of William DuPage (15%).

Foreign Company Location The Foreign Company is headquartered at the following location:

48 Dover St London W1S, UK

Description of Business Activity Founded in June 1999, WN Publishing is a London-based online and print media company. For 16 years, WN Publishing’s numerous publications have been favored by a tremendous variety of readers and subscribers throughout the United Kingdom and Europe. WN Publishing has four publications in its holdings:

What’s News UK Society & Leisure Political Front France Political Front London

FOREIGN COMPANY DETAILS

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The Foreign Company’s Political Front publications address contemporary political topics and feature news articles and opinion pieces from some of the leading political journalists in the EU. The Political Front publications have monthly print distribution throughout the UK and France. Society & Leisure’s content is largely focused on topical news related to the monarchy, social happenings, tourism, and perspective articles about the daily life as a Londoner. What’s News UK features articles and stories surrounding celebrity and entertainment news. While Society & Leisure and What’s News UK both were launched as print publications in 2005 and 1999, respectively, WN Publishing successfully converted both to wholly online publications in 2013 and both are now completely supported by online advertising revenue. Based on the success of the online-only model with these publications, WN Publishing is now planning to replicate this model in new markets, beginning with What’s News USA in the United States.

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Applicant Information and Job Title The business activities described in the following sections of this Business Plan will be overseen by Ms. Madeleine Burnham, who will serve as the Company’s Chief Executive Editor. Ms. Burnham has been employed at WN Publishing since 2006. As the executive in charge of What’s News USA, Ms. Burnham will oversee all U.S.-based staff and guide the vision and growth strategy of the Company to build a revenue that sustains operations while allowing for investment in additional staff and content. Ms. Burnham’s presence in the United States will provide the leadership needed to ensure the website’s launch is effective and that the site is adequately promoted to gain immediate traction with U.S. readers. By being physically present at the U.S. office, Ms. Burnham will have better access to web developers and other contracted providers during the start-up phase of the website. Her physical presence onsite will also allow her to recruit, interview, and hire the management and editorial team for the publication. Furthermore, a local presence in the United States allows for better networking with potential advertisers and sponsors.

Applicant Qualifications

The L-1 beneficiary, Ms. Burnham, has been employed by WN Publishing in the role of Managing Editor of What’s News UK from March 2006 to the present. Prior to this, she was employed as the Managing Editor at Daily Life UK. As such, Ms. Burnham has more than 15 years of editorial experience with major publications of similar content.

Ms. Burnham not only brings her 15 years of media leadership and managerial experience to the Company, she also brings unique and invaluable insight into the internal functions of the Foreign Company.

Ms. Burnham will be able to perform essential functions as a liaison between the Foreign Company and What’s News USA, as well as manage the team of professionals on the ground at the Company’s New York headquarters.

Applicant Biography Ms. Burnham is an accomplished editor and executive with more than 20 years of experience in media publishing. Notably, for the last nine years at What’s News UK, Ms. Burnham has functioned in the capacity of Managing Editor, which entailed oversight of content, relationship building with sponsors and advertisers, financial management, and staff development. Under her management, What’s News UK was

APPLICANT’S ROLE & COMPANY MANAGEMENT

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successfully converted from a print-only publication, which relied on revenue from subscription and publication sales, to an online-only platform relying solely on advertising revenue. The conversion from print to online was a massive effort, dependent on successfully transitioning a dedicated and loyal readership to a new platform and not only maintaining relationships with existing advertisers in the wake of the shift, but forging relationships with new sponsors to increase total ad revenue. Ms. Burnham was primarily responsible for initiating and executing the shift in the publication’s business model. Her experience in developing a profitable online publication will be invaluable to replicating What’s News UK’s success in the U.S. market.

Applicant Job Description Ms. Burnham will be the Chief Executive Editor in charge of opening and expanding the U.S. office, and is initially projected to have a team of four full-time employees. Ms. Burnham will be tasked with overseeing the launch of the website and its successful growth. By virtue of her responsibility as the sole executive for the new U.S. office, she will also exercise control of management and staffing. Ms. Burnham’s job duties will include: Function Allocation

of Time Start Up Phase (Year 1)

Oversee the development and design of What’s News USA’s website

30%

Secure advertising partners 30% Oversee content development 20% Develop internal policies and procedures for operations

10%

Execute financial management for the Company 10% Year 2 and Beyond

Provide final executive oversight and decision making regarding content

20%

Foster and develop relationships with advertisers

20%

Financial management 10% Liaise with Foreign Company regarding growth objectives

10%

Provide oversight to creative editor and marketing contractors to improve readership

20%

Develop strategies to expand reader base and increase profitability

20%

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Organizational Chart The following organizational chart depicts the proposed hierarchical structure at What’s News USA’s office in the United States over the first three years following launch:

Staff Job Descriptions

Job descriptions for all staff hired in the first three years of operation are shown as follows: Creative Director Education level: Bachelor’s degree in English, Literature, Media, or related field, Master’s degree preferred.

Set and enforce office policies. Approves online strategy, monitors high-level adherence to business goals

and provides resources where necessary. Expedites online strategy by coordinating development priorities among all

departments, follows up and reports progress to Ms. Burnham. Sets internal web standards, monitors development on a cyclical basis and

acts as a 'Court of Last Resort' for inter-departmental web conflict. Cultivate and enter into potential advertising partnerships, act as Public

Relations face of the company. Renders final decisions regarding which content to publish online.

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Deputy Managing Editor Education level: Bachelor’s degree in English, Literature, Media, or related field, Master’s degree preferred.

Act as core support staff to Senior Management Executive. Manage human resource functions, including payroll and scheduling. Act as Operations Manager. Cultivate and maintain a positive corporate culture.

Developer/SEO Education level: Bachelor’s degree in Computer Science, Marketing, or related field. Master’s degree preferred

Assist with defining code standards. Expedite coding in support of maintenance and project requirements. Assist with technical activity in conjunction with other service providers, in

particular hosting. Define web design standards. Produce visually engaging templates. Adhere to content production and development schedules. Keep abreast of advances in the core disciplines of online development,

technology, and infrastructure as well as emerging developments in web technology and devices.

Liaise with freelance writers.

Senior Editor Education level: Bachelor’s degree in English, Literature, Media, or related field, Master’s degree preferred.

Act as core editorial support for Creative Director. Own house style and tone guidelines. Train and support subordinate editorial staff. Liaise with freelance writers, including accepting pitches and setting

deadlines. Copy Editor Education level: Bachelor’s degree in English, Literature, Media, or related field

Ensure that all published copy is grammatical and in alignment with house style.

Find and correct errors in punctuation, spelling, grammar, and usage. Develop and maintain internal style guidelines.

Reporter Education level: Bachelor’s degree in English, Literature, Media, or related field

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Cultivate and pursue news leads. Attend and report on events. Write news articles. Take photographs of news events.

Writer Education level: Bachelor’s degree in English, Literature, Media, or related field

Produce high-quality, engaging, and web-optimized copy. Ensure consistency with house style and voice. Assist with marketing and other communications efforts when necessary.

Research Editor Education level: Bachelor’s degree in English, Literature, Media, or related field, Master’s degree preferred

Oversee all research and reportage. Own news topics requiring significant research. Produce original, high-quality, web-optimized content. Develop news stories and pitch stories to Creative Director. Remain up-to-date on news and research trends and industry news.

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What’s News USA is dedicated to releasing a new online magazine featuring entertainment breaking news, artist interviews and exclusives, news, video, and much more. The Company will also act as an important journalistic base in North America for other WN Publishing publications. From What’s News USA’s newly established contact channels with Hollywood celebrities and the latest celebrity news, the Company will be able to send breaking news, engaging reviews, recaps, and live on-the-scene coverage of the biggest entertainment events across the film, TV, and music industries to its parent company in London to feed What’s News UK and Society and Leisure with exclusive content. What’s News USA will also shoot video clips and footage of the world’s most recognized celebrities for their interviews, red carpets, movie premieres, and award shows within hours of the event. The Company will offer its readers and its parent firm a comprehensive library of entertainment and celebrity footage including video clips of popular personalities from high-profile events, annual award shows, and sporting events; all those things that engage, excite, and move the world. What’s News USA will generate revenue through advertising sales.

BUSINESS DESCRIPTION

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In a recent article about celebrity news, Forbes writes that “Celebrity drives viewership. No doubt. They are eyeball magnets. Celebrity content pulls tons of views. And nothing, it seems, attracts more eyeballs than celebrity gossip websites.”1 The widespread popularity of celebrity news sites makes them highly desirable for advertisers – particularly premium and luxury brands with deep pockets. “For example on Defamer.com – Part of the Gawker blogging network, a story of Paris Hilton is wrapped in an ad for the American Express Gold Card. In today’s Celebitchy.com we see ads by T-Mobile and Comcast. And in TMZ.com, the site that seems to break more stories than most, you’ll find ads for Southwest Airlines. And GossipGirl.com features ads by Banana Republic.”2 Keith O’Brien, head of social media activation at Horizon Media, describes why they are so appealing to marketers: “Advertisers like that these sites are highly visited by all types of people so it’s possible to reach a wide audience.”3

Market Segmentation The Company expects its readership base to be similar to that of What’s News UK, or any other celebrity and entertainment-based publication. The following summarizes the findings of a recent survey by WN Publishing of What’s News UK’s readership:

1 Goodson, Scott. “The 30 most popular celebrity gossip sites and why big brands love them.” Forbes. 2013. Source:

http://www.forbes.com/sites/marketshare/2013/05/24/the-30-most-popular-celebrity-gossip-sites-and-why-big-brands-love-them/. Emphasis added. 2 Ibid.

3 Ibid.

MARKET ANALYSIS SUMMARY

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Industry Analysis The Company will operate in the thriving $39.4 billion Internet Publishing and Broadcasting Industry in the United States. This segment has bucked the downward trend of many media and publishing sector industries by posting a compound average annual growth rate of nearly 10% over the past five years. Moving forward, revenue growth is expected to stabilize at a still very strong CAGR of 5.6%, reaching $51.7 billion by 2020.4 “Although advertising expenditures plunged during the recession, the industry remained relatively unscathed due to the flexibility and efficiency of online advertising. Businesses were able to determine the impact of any given ad on sales and scale back their online marketing campaigns as needed. Simultaneously, the growing number of mobile internet connections has expanded the amount of content and advertising to which individuals are exposed.” The following charts are provided by market research firm IBISWorld, and provide an overview of relevant statistics to this growing industry:5

4 IBISWorld. Source: www.ibisworld.com

5 Ibid.

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Competitors North America is home to several online publications that focus on celebrity and entertainment news. However, many have outdated or hard-to-navigate designs, or function as an online “arm” of a larger print publication or television presence. The Company has carefully analyzed the strengths and weaknesses of its competitors, and will utilize the following analysis of these businesses’ successes and shortcomings as a roadmap as it finalizes its own marketing and operational plans. TMZ www.tmz.com

TMZ is a media group specializing in celebrity gossip, film coverage, sports, television, and other entertainment news. The Company offers a content-rich (though poorly designed) online portal including reportage, video, and interactive elements; it also produces a television show. TMZ is a division of Time Warner, a multinational media corporation that owns HBO, Turner

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Broadcasting, Warner Bros., CNN, Cartoon Network, and many other prominent media brands. TMZ offers a generic, gossipy perspective that may not resonate with all readers.

Us Weekly www.usmagazine.com

Founded in 1977 by The New York Times but acquired by Wenner Media in 1986, Us Weekly is a print magazine that operates a website featuring a breaking celebrity news blog, red carpet galleries, exclusive photos, and interactive content. Us Weekly specializes in film, celebrity, and entertainment news.

Gawker www.gawker.com

A new media leader, Gawker is an online-only publication that focuses on celebrities and media. Founded in 2003, Gawker has become the flagship publication of Gawker Media, which also publishes Defamer, Lifehacker, Gizmodo, and Deadspin. Gawker is headquartered in New York City, and specializes particularly in covering news related to current events, politics, entertainment, and trending topics as opposed to covering celebrity and entertainment news exclusively.

Competitive Edge What’s News USA benefits from a broad range of advantages over other online publications, including:

Financial and promotional backing from the Foreign Company Experienced leadership with extensive print and online media background Streamlined web design featuring article filters based on reader’s

preferences and topics of interest Commitment to publishing frequently updated and engaging content Excellent location provides proximity to all major source material and major

advertisers Parent firm grants access to extensive and established distribution and

promotional networks

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What’s News USA will develop a brand that communicates its core mission to create fun, exciting, high quality, and culturally relevant entertainment news and online content. A cohesive brand identity, including a memorable logo and all necessary marketing collateral, will transmit a clear message of these values to the Company’s readership and guide the development of marketing campaigns. What’s News USA plans to utilize a diversified marketing approach leveraging online and offline tactics.

Objectives The Company has identified the following objectives and benchmarks as it begins operations: Short-term Develop site architecture and content for initial release within first six months Launch site approximately halfway through Year 1 Continue to generate high-quality content from a base of freelance writers Begin site monetization through advertising sales Establish itself as a trusted online publication Build a base of readers that is large enough to sustain business Long-term Bring content creation in-house beginning in Year 2 (continuing to supplement

with freelance contractors) Enhance its readership base to sustain the business and support its growth

objectives Generate enough revenue to expand operations Hire additional staff Move to a larger office

Marketing Strategy What’s News USA will use a variety of advertising channels to increase its exposure among prospective readers. Specific channels will include: Word of mouth: The advent of social media means that word travels faster than ever before between family members, peers, and colleagues who are pleased with their experiences with a particular business. The Company will actively cultivate

MARKETING SUMMARY

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this effective and inexpensive resource to generate interest in its online publication. According to research conducted by Nielsen, word of mouth remains among the most trusted forms of advertising: 84% of consumers around the world say they trust earned advertising, such as word of mouth or recommendations from friends and family, above all other forms of advertising.6 Internet advertising: What’s News USA will use a combination of internet advertising methods including Pay-per-Click, Google AdWords, Tags, and banner ads as well as search engine optimization of its website. This effort will help drive traffic to the Company’s site. Viral marketing: The Company will rely on online viral marketing to rapidly reach a broad audience. Viral marketing efforts hinge on the creation of engaging content designed to be shared by viewers. To encourage social sharing, What’s News USA will pursue cross-marketing with other websites, create YouTube videos, establish a presence on social networking sites, blog regularly, and engage frequently on Twitter. Social networking: What’s News USA will develop a distinctive and authentic presence on social networking sites including Facebook, Instagram, and Twitter, and may also place advertisements on these sites. Customers can “like” What’s News USA on Facebook or “follow” the Company’s Twitter or Instagram feed in order to gain access to special discounts or promotions, and What’s News USA will regularly monitor and interact with consumers through social networking sites. About 72% of all internet users are active on social networks, while 89% of all Millennial consumers are active social network users. Almost half of all Americans report that Facebook is their primary influencer of purchase, while 63% of Millennials report using social media to stay updated on the activity of their favorite brands.7 Public relations: The Company intends to build a strong public relations campaign via national and international media outlets to broadcast the launch of its new publication. Public relations efforts will include direct media outreach, community support and approval, customer relations, print articles, press releases, and promotional events. Print media: What’s News USA understands that it is important to reach potential readers offline as well as offline. For this reason, the Company will place ads in local

6 Nielsen Report. Global Trust in Advertising and Brand Messages. 2013. Source:

http://www.nielsen.com/content/corporate/us/en/insights/reports/2013/global-trust-in-advertising-and-brand-messages.html 7 Pick, Tom. “104 fascinating social media and marketing statistics for 2014 (and 2015).” B2C. 2014. Source:

http://www.business2community.com/social-media/104-fascinating-social-media-marketing-statistics-2014-2015-01084935

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and national print publications. These advertisements will highlight the unique content found at What’s News USA and will also include the access URL. Search engine optimization: The Company will allot portions of its marketing budget for strategic internet marketing, including search engine optimization. This tactic involves organically improving the quality and volume of traffic to a website through user searches on search engines such as Google and Bing. Search engine optimization strategy will include:

o Keywords: Celebrity news, celebrity gossip, Hollywood gossip, Entertainment news, Film and Television news, Hollywood blog, etc.

o Coding Standards: The Company will optimize its web pages for search engines defined by its software developers and will use all basic HTML code elements that search engines expect.

o Link-backs: What’s News USA will develop a plan to get link-backs to the Company’s site from other relevant sites and directories.

o Blog: The Company’s regularly updated, quality content blogs will play a key role in its search strategy with aggressive linking to industry sites and links from key vendor support companies.

Email marketing: Current readers will benefit from receiving strategic email updates and newsletters on a regular basis. This will provide the Company’s database of readers and opt-in members with a daily newsletter of featured articles that redirect the reader to the Company’s website. All emails will be optimized for desktop and mobile viewing. Earned media: The Company will benefit from earned media, or free publicity, gained through television news coverage, radio coverage, and print articles in local newspapers and relevant magazines. While the value of earned media is more difficult to quantify, the potential for word of mouth as a result is high. Celebrity endorsements: What’s News USA will pursue endorsement agreements with prominent, fashionable celebrities who have high numbers of social media followers. Celebrity endorsers will receive free products in exchange for promoting the brand in Facebook or Twitter posts.

Sales Strategy Securing and establishing accounts with advertisers is fundamental to the financial success of the Company. What’s News USA will develop a sales plan to reach advertisers and sponsors of the site. Specific channels will include:

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Established relationships: The Company has already established a number of business relationships that it will use to market its publication, to generate referrals, and to establish and build its base of advertisers. Industry events: The Company will attend conferences throughout the United States and abroad to increase brand awareness and establish valuable business partnerships. Networking: As with any relationship-based business, the Company will benefit from participating in a number of networking opportunities that have the potential to yield new business contacts as well as nourish existing ones. What’s News USA will attend a variety of events that draw substantial numbers of prospective clients, including seminars, networking events, and conferences which provide opportunities to speak to and associate with larger audiences.

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The following table and graph illustrate the financial goals of the Company during the next five years:

Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485

Gross Margin $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485

Operating Expenses $744,977 $1,010,838 $1,266,710 $1,341,863 $1,422,088

EBITDA* $6,256 $25,662 $49,540 $105,832 $170,196

Net Profit $5,023 $24,162 $47,740 $104,032 $168,396

Profitability Ratios

Gross Margin/Revenue 100% 100% 100% 100% 100%

EBITDA/Revenue 1% 2% 4% 7% 11%

Net Profit % 1% 2% 4% 7% 11%

Debt Ratios

Debt Ratio (Total Debt/Total Assets) 11.44% 11.00% 11.03% 9.18% 7.26%

Interest Coverage Ratio N/A N/A N/A N/A N/A

Debt Service Coverage Ratio N/A N/A N/A N/A N/A

Days on Hand

Receivables 0 0 0 0 0

Inventory 0 0 0 0 0

Payables 30 30 30 30 30

Net Cash Flow $33,475 $24,284 $51,056 $109,091 $173,758

Cash Balance - Ending $259,067 $283,351 $334,408 $443,499 $617,257

FINANCIAL HIGHLIGHTS

*Earnings before interest, taxes, depreciation

& amortization

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000


Financial Highlights

Revenue

Direct Costs

Operating Expenses

Net Profit

FINANCIAL PROJECTIONS

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The table below outlines the sources and uses of funds from the Foreign Company. Note that the following table reflects one-time expenses incurred to launch the Company. The Working Capital balance will fund site development, overhead and staffing expenses of the Company until it begins generating revenue in Month 6.

Investment from Foreign Company $250,000

Total Sources $250,000

Start-up Expenses

Professional Fees $5,000

Miscellaneous Supplies & Materials $2,500

Office Set Up (Regus) $150

Office Deposit/Initial Rent Payments $1,358

Website Domain $400

Total Start-up Expenses $9,408

Start-up Assets

Working Capital $225,592

Office Equipment $15,000

Total Start-up Assets $240,592

Total Uses $250,000

Sources Of Funds

Uses Of Funds

SOURCES & USES

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The following is a five-year revenue forecast. Direct costs include all costs which can be directly tied to revenue and include “cost of goods.”


Revenue

Advertising (CPM) $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485

Total Revenue $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485

Direct Cost of Revenue

Advertising (CPM) $0 $0 $0 $0 $0

Subtotal Cost of Revenue $0 $0 $0 $0 $0

Other Direct Cost $0 $0 $0 $0 $0

Total Direct Costs $0 $0 $0 $0 $0

Gross Margin $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485


REVENUE FORECAST

The table below shows the units and pricing assumptions underlying the revenue forecast. The Company will generate revenue through a CPM (Cost Per Mille) advertising model, where the Company earns a fixed rate for every 1,000 impressions an ad receives. Total site followers (viewers of the site) multiplied by impressions per follower per year (how many times a viewer sees an ad) equal total impressions. CPM units equal impressions divided by 1,000. The following table details the growth in site followers and impressions. The Company assumes an average rate of $10 per CPM.


Total Year End Followers 284,029 291,160 353,103 388,414 427,255

# of Impressions/Follower/Year 280 480 480 480 480

Units

Advertising (CPM) 75,000 103,500 131,445 144,590 159,048

Total Units 75,000 103,500 131,445 144,590 159,048

Unit Price

Advertising (CPM) $10.00 $10.00 $10.00 $10.00 $10.00

Direct Unit Cost

Advertising (CPM) $0.00 $0.00 $0.00 $0.00 $0.00

UNIT ASSUMPTIONS

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$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

Mo

nth

1

Mo

nth

2

Mo

nth

3

Mo

nth

4

Mo

nth

5

Mo

nth

6

Mo

nth

7

Mo

nth

8

Mo

nth

9

Mo

nth

10

Mo

nth

11

Mo

nth

12

Year 1 Revenue Monthly

Advertising (CPM)

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000


Annual Revenue

Advertising (CPM)

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The Company’s personnel forecast is outlined below. Personnel wages indicate the average wage per position and personnel costs are total wages for each position.


Year End Personnel Count

Chief Executive Editor (Applicant) 1 1 1 1 1

Senior Editor 1 1 1 1 1

Copy Editor 1 1 1 1 1

Creative Director 1 1 1 1 1

Developer/SEO 1 1 1 1 1

Deputy Managing Editor 0 1 1 1 1

Reporter 0 0 1 1 1

Writer 0 1 2 2 2

Research Editor 0 0 1 1 1

Total Personnel 5 7 10 10 10

Personnel Wage

Chief Executive Editor (Applicant) $150,000 $157,500 $165,375 $173,644 $182,326

Senior Editor $85,000 $89,250 $93,713 $98,398 $103,318

Copy Editor $65,000 $68,250 $71,663 $75,246 $79,008

Creative Director $75,000 $78,750 $82,688 $86,822 $91,163

Developer/SEO $85,000 $89,250 $93,713 $98,398 $103,318

Deputy Managing Editor $65,000 $68,250 $71,663 $75,246 $79,008

Reporter $35,000 $36,750 $38,588 $40,517 $42,543

Writer $35,000 $36,750 $38,588 $40,517 $42,543

Research Editor $50,000 $52,500 $55,125 $57,881 $60,775

Personnel Costs

Chief Executive Editor (Applicant) $150,000 $157,500 $165,375 $173,644 $182,326

Senior Editor $85,000 $89,250 $93,713 $98,398 $103,318

Copy Editor $48,750 $68,250 $71,663 $75,246 $79,008

Creative Director $62,500 $78,750 $82,688 $86,822 $91,163

Developer/SEO $63,750 $89,250 $93,713 $98,398 $103,318

Deputy Managing Editor $0 $68,250 $71,663 $75,246 $79,008

Reporter $0 $0 $38,588 $40,517 $42,543

Writer $0 $36,750 $77,175 $81,034 $85,085

Research Editor $0 $0 $55,125 $57,881 $60,775

Total Payroll $410,000 $588,000 $749,700 $787,185 $826,544

Payroll/Revenue 54.67% 56.81% 57.04% 54.44% 51.97%

PERSONNEL FORECAST

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28

In the Profit and Loss table below, gross margin equals revenue minus direct costs. The “bottom line” or profit (as measured before and after interest, taxes, depreciation, and amortization) equals gross margin minus operating expenses. Note that the Company reaches a level of revenue in Year 1 that adequately covers Ms. Burnham’s salary, in addition to operating and other staff expenses.


Total Revenue $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485

Total Direct Cost of Revenue $0 $0 $0 $0 $0

Gross Margin $750,000 $1,035,000 $1,314,450 $1,445,895 $1,590,485


Expenses

Travel & Entertainment $18,000 $18,900 $19,845 $20,837 $21,879

Marketing & Promotion $150,000 $207,000 $262,890 $289,179 $318,097

Web Maintenance & Development $21,000 $12,000 $12,600 $13,230 $13,892

Contractors/Outsourced Content $40,000 $42,000 $44,100 $46,305 $48,620

Rent & Overhead $8,244 $16,488 $24,732 $24,732 $24,732

Insurance $25,000 $26,250 $27,563 $28,941 $30,388

Legal & Professional Services $10,000 $10,500 $11,025 $11,576 $12,155

Depreciation $1,233 $1,500 $1,800 $1,800 $1,800

Payroll Taxes & Benefits $61,500 $88,200 $112,455 $118,078 $123,982

Total Personnel $410,000 $588,000 $749,700 $787,185 $826,544

Total Op. Expenses $744,977 $1,010,838 $1,266,710 $1,341,863 $1,422,088

Profit Before Int. & Tax $5,023 $24,162 $47,740 $104,032 $168,396

EBITDA $6,256 $25,662 $49,540 $105,832 $170,196

Interest Expense $0 $0 $0 $0 $0

Taxes Incurred $0 $0 $0 $0 $0

Net Profit $5,023 $24,162 $47,740 $104,032 $168,396

Net Profit % 0.7% 2.3% 3.6% 7.2% 10.6%

PRO FORMA PROFIT & LOSS

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29

The table and chart below demonstrate when the Company is expected to become profitable. Break-even occurs when accumulated revenue equals accumulated expenses. According to the forecasted financials, month 32 will be the point at which break-even will occur.

Break-Even Month 32

Accumulated Gross Revenue $2,573,574

BREAK-EVEN ANALYSIS

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58

Accumulated Revenue

Accumulated Expenses

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30

The following depictions of the Company’s projected cash flow show that the Company expects to maintain sufficient cash balances over the five years of this plan. The “pro forma cash flow” table differs from the “pro forma profit and loss” (P&L) table. Pro forma cash flow is intended to represent the actual flow of cash in and out of the Company. In comparison, the revenue and expense projections on the P&L table include “non-cash” items and exclude funding and investment illustrations.

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000


Cash Flow

Net Cash Flow

Cash Balance


OPERATING

Net Profit $5,023 $24,162 $47,740 $104,032 $168,396

Adjustments to Net Profit

Depreciation & Amortization $1,233 $1,500 $1,800 $1,800 $1,800

(Increases)/Decreases in Accounts Receivable $0 $0 $0 $0 $0

(Additions)/Depletions of Inventory $0 $0 $0 $0 $0

Increases/(Decreases) in Accounts Payable $31,719 $1,622 $6,016 $3,259 $3,562

Net Cash From Operating Activities $37,975 $27,284 $55,556 $109,091 $173,758

INVESTING

Purchase of Other Current Assets $0 $0 $0 $0 $0

Sale of Other Current Assets $0 $0 $0 $0 $0

Purchase of Land $0 $0 $0 $0 $0

Sale of Land $0 $0 $0 $0 $0

Purchase Long-term Assets ($4,500) ($3,000) ($4,500) $0 $0

Sale of Long-term Assets $0 $0 $0 $0 $0

Net Cash From Investing Activities ($4,500) ($3,000) ($4,500) $0 $0

FINANCING

Investment $0 $0 $0 $0 $0

Dividends $0 $0 $0 $0 $0

New Current Borrowing $0 $0 $0 $0 $0

Current Borrowing Repay. $0 $0 $0 $0 $0

New Long Term Liabilities $0 $0 $0 $0 $0

Long Term Liability Repay $0 $0 $0 $0 $0

Net Cash From Financing Activities $0 $0 $0 $0 $0

NET CASH FLOW $33,475 $24,284 $51,056 $109,091 $173,758

Beginning Cash $225,592 $259,067 $283,351 $334,408 $443,499

Ending Cash $259,067 $283,351 $334,408 $443,499 $617,257

CASH FLOW

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31

The balance sheet below highlights the Company’s projected assets, liabilities, and capital:


Assets

Current Assets

Cash $259,067 $283,351 $334,408 $443,499 $617,257

Accounts Receivable $0 $0 $0 $0 $0

Inventory $0 $0 $0 $0 $0

Other Current Assets $0 $0 $0 $0 $0

Total Current Assets $259,067 $283,351 $334,408 $443,499 $617,257

Fixed Assets

Long-term Assets $19,500 $22,500 $27,000 $27,000 $27,000

Accum. Depreciation $1,233 $2,733 $4,533 $6,333 $8,133

Land $0 $0 $0 $0 $0

Total Fixed Assets $18,267 $19,767 $22,467 $20,667 $18,867

Total Assets $277,333 $303,118 $356,874 $464,166 $636,123

Liabilities and Capital

Current Liabilities

Accounts Payable $31,719 $33,341 $39,357 $42,616 $46,178

Current Borrowing $0 $0 $0 $0 $0

Other Current Liabilities $0 $0 $0 $0 $0

Subtotal Current Liabilities $31,719 $33,341 $39,357 $42,616 $46,178

Long-term Liabilities $0 $0 $0 $0 $0

Total Liabilities $31,719 $33,341 $39,357 $42,616 $46,178

Paid-in Capital $450,000 $450,000 $450,000 $450,000 $450,000

Retained Earnings ($9,408) ($4,385) $19,777 $67,517 $171,549

Earnings $5,023 $24,162 $47,740 $104,032 $168,396

Total Capital $445,615 $469,777 $517,517 $621,549 $789,945

Total Liabilities and Capital $477,333 $503,118 $556,874 $664,166 $836,123

BALANCE SHEET

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32

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Revenue

Advertising (CPM) $0 $0 $0 $0 $0 $100,884 $102,902 $104,960 $107,059 $109,200 $111,384 $113,612

Total Revenue $0 $0 $0 $0 $0 $100,884 $102,902 $104,960 $107,059 $109,200 $111,384 $113,612

Direct Cost of Revenue

Advertising (CPM) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cost of Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Direct Cost $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Direct Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Gross Margin $0 $0 $0 $0 $0 $100,884 $102,902 $104,960 $107,059 $109,200 $111,384 $113,612

Gross Margin/Revenue N/A N/A N/A N/A N/A 100% 100% 100% 100% 100% 100% 100%

REVENUE FORECAST


Total # of Followers 0 0 0 0 0 252,210 257,254 262,399 267,647 273,000 278,460 284,029

# of Impressions/Follow/Month 0 0 0 0 0 40 40 40 40 40 40 40

Units

Advertising (CPM) 0 0 0 0 0 10,088 10,290 10,496 10,706 10,920 11,138 11,361

Total Units 0 0 0 0 0 10,088 10,290 10,496 10,706 10,920 11,138 11,361

Unit Price

Advertising (CPM) $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00

Direct Unit Cost

Advertising (CPM) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

UNIT ASSUMPTIONS

APPENDIX: YEAR 1 FINANCIAL PROJECTIONS BY MONTH

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33


Personnel Count

Chief Executive Editor (Applicant) 1 1 1 1 1 1 1 1 1 1 1 1

Senior Editor 1 1 1 1 1 1 1 1 1 1 1 1

Copy Editor 0 0 0 1 1 1 1 1 1 1 1 1

Creative Director 0 0 1 1 1 1 1 1 1 1 1 1

Developer/SEO 0 0 0 1 1 1 1 1 1 1 1 1

Deputy Managing Editor 0 0 0 0 0 0 0 0 0 0 0 0

Reporter 0 0 0 0 0 0 0 0 0 0 0 0

Writer 0 0 0 0 0 0 0 0 0 0 0 0

Research Editor 0 0 0 0 0 0 0 0 0 0 0 0

Total Personnel 2 2 3 5 5 5 5 5 5 5 5 5

Personnel Wage

Chief Executive Editor (Applicant) $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500

Senior Editor $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083

Copy Editor $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417

Creative Director $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250

Developer/SEO $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083

Deputy Managing Editor $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417

Reporter $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917

Writer $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917 $2,917

Research Editor $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167

Personnel Costs

Chief Executive Editor (Applicant) $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500

Senior Editor $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083

Copy Editor $0 $0 $0 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417 $5,417

Creative Director $0 $0 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250 $6,250

Developer/SEO $0 $0 $0 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083

Deputy Managing Editor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Reporter $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Writer $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Research Editor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Payroll $19,583 $19,583 $25,833 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333

Payroll/Revenue N/A N/A N/A N/A N/A 38.00% 37.25% 36.52% 35.81% 35.10% 34.42% 33.74%

PERSONNEL FORECAST

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34


Total Revenue $0 $0 $0 $0 $0 $100,884 $102,902 $104,960 $107,059 $109,200 $111,384 $113,612

Total Direct Cost of Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Gross Margin $0 $0 $0 $0 $0 $100,884 $102,902 $104,960 $107,059 $109,200 $111,384 $113,612

Gross Margin/Revenue N/A N/A N/A N/A N/A 100% 100% 100% 100% 100% 100% 100%

Expenses

Travel & Entertainment $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500

Marketing & Promotion $0 $0 $0 $0 $0 $20,177 $20,580 $20,992 $21,412 $21,840 $22,277 $22,722

Web Maintenance & Development $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000

Contractors/Outsourced Content $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333 $3,333

Rent & Overhead $687 $687 $687 $687 $687 $687 $687 $687 $687 $687 $687 $687

Insurance $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083 $2,083

Legal & Professional Services $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833

Depreciation $83 $83 $92 $108 $108 $108 $108 $108 $108 $108 $108 $108

Payroll Taxes & Benefits $2,938 $2,938 $3,875 $5,750 $5,750 $5,750 $5,750 $5,750 $5,750 $5,750 $5,750 $5,750

Total Personnel $19,583 $19,583 $25,833 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333 $38,333

Total Op. Expenses $33,541 $33,541 $40,737 $55,129 $55,129 $75,305 $74,209 $74,621 $75,040 $75,469 $75,905 $76,351

Profit Before Int. & Tax ($33,541) ($33,541) ($40,737) ($55,129) ($55,129) $25,579 $28,693 $30,339 $32,018 $33,731 $35,479 $37,261

EBITDA ($33,458) ($33,458) ($40,645) ($55,020) ($55,020) $25,687 $28,801 $30,447 $32,127 $33,840 $35,587 $37,369

Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Net Profit ($33,541) ($33,541) ($40,737) ($55,129) ($55,129) $25,579 $28,693 $30,339 $32,018 $33,731 $35,479 $37,261

Net Profit % N/A N/A N/A N/A N/A 25.4% 27.9% 28.9% 29.9% 30.9% 31.9% 32.8%

PRO FORMA PROFIT & LOSS

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35


OPERATING

Net Profit ($33,541) ($33,541) ($40,737) ($55,129) ($55,129) $25,579 $28,693 $30,339 $32,018 $33,731 $35,479 $37,261

Adjustments to Net Profit

Depreciation & Amortization $83 $83 $92 $108 $108 $108 $108 $108 $108 $108 $108 $108

(Increases)/Decreases in Accounts Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

(Additions)/Depletions of Inventory $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Increases/(Decreases) in Accounts Payable $10,787 $0 $0 $0 $0 $19,900 ($1,081) $406 $414 $422 $431 $439

Net Cash From Operating Activities ($22,671) ($33,458) ($40,645) ($55,020) ($55,020) $45,587 $27,720 $30,853 $32,541 $34,262 $36,018 $37,808

INVESTING

Purchase of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sale of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase of Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sale of Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase Long-term Assets $0 $0 ($1,500) ($3,000) $0 $0 $0 $0 $0 $0 $0 $0

Sale of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Net Cash From Investing Activities $0 $0 ($1,500) ($3,000) $0 $0 $0 $0 $0 $0 $0 $0

FINANCING

Investment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Current Borrowing Repay. $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Long Term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Long Term Liability Repay $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Net Cash From Financing Activities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

NET CASH FLOW ($22,671) ($33,458) ($42,145) ($58,020) ($55,020) $45,587 $27,720 $30,853 $32,541 $34,262 $36,018 $37,808

Beginning Cash $225,592 $202,921 $169,464 $127,318 $69,298 $14,278 $59,865 $87,584 $118,438 $150,979 $185,241 $221,258

Ending Cash $202,921 $169,464 $127,318 $69,298 $14,278 $59,865 $87,584 $118,438 $150,979 $185,241 $221,258 $259,067

CASH FLOW

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36


Assets

Current Assets

Cash $202,921 $169,464 $127,318 $69,298 $14,278 $59,865 $87,584 $118,438 $150,979 $185,241 $221,258 $259,067

Accounts Receivable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Inventory $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current Assets $202,921 $169,464 $127,318 $69,298 $14,278 $59,865 $87,584 $118,438 $150,979 $185,241 $221,258 $259,067

Fixed Assets

Long-term Assets $15,000 $15,000 $16,500 $19,500 $19,500 $19,500 $19,500 $19,500 $19,500 $19,500 $19,500 $19,500

Accum. Depreciation $83 $167 $258 $367 $475 $583 $692 $800 $908 $1,017 $1,125 $1,233

Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Fixed Assets $14,917 $14,833 $16,242 $19,133 $19,025 $18,917 $18,808 $18,700 $18,592 $18,483 $18,375 $18,267

Total Assets $217,838 $184,297 $143,560 $88,431 $33,303 $78,781 $106,393 $137,138 $169,570 $203,724 $239,633 $277,333

Liabilities and Capital

Current Liabilities

Accounts Payable $10,787 $10,787 $10,787 $10,787 $10,787 $30,688 $29,606 $30,012 $30,426 $30,849 $31,279 $31,719

Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Current Liabilities $10,787 $10,787 $10,787 $10,787 $10,787 $30,688 $29,606 $30,012 $30,426 $30,849 $31,279 $31,719

Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Liabilities $10,787 $10,787 $10,787 $10,787 $10,787 $30,688 $29,606 $30,012 $30,426 $30,849 $31,279 $31,719

Paid-in Capital $250,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000 $450,000

Retained Earnings ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408) ($9,408)

Earnings ($33,541) ($67,082) ($107,819) ($162,948) ($218,077) ($192,498) ($163,806) ($133,466) ($101,448) ($67,717) ($32,238) $5,023

Total Capital $207,051 $373,510 $332,773 $277,644 $222,515 $248,094 $276,786 $307,126 $339,144 $372,875 $408,354 $445,615

Total Liabilities and Capital $217,838 $384,297 $343,560 $288,431 $233,303 $278,781 $306,393 $337,138 $369,570 $403,724 $439,633 $477,333

BALANCE SHEET

l-1a visa sample (online publication) masterplans.com

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