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BBA-3B
SUBMITTED TO: PROF.
MAZHAR HAYAT

Submitted by:
Mohammad Fasih 0049
Elaf Anwar 0078
Usama Naveed 0076
Hamza Amjad 0057
Adnan Maqsood 0075
Usama Imtiaz 0056
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ACKNOWLEDGEMENT

First of all, we thank ALLAH who give us opportunity to do this project. We would like to
express our special thanks of gratitude to our great and respectable teacher PROF. Mazhar
Hayat who gave us the golden opportunity to do this wonderful project on the topic Start up
ideas, which also help us in doing a lot of research and we came to know about so many new
things. We are really thankful to him for his kind and continuous encouragement and give us
guidance during all phases of this study. It enabled us to solve many difficult issues in this topic.

Secondly, many students especially team members made and gave ideas on this project, which
gave us inspiration to improve our project. We thanks to all the people especially for their help
directly and indirectly to complete our project.
The library and its stuff has very kindly helped to provide assistance with regard to this research.
Without mentioning individual names, we express our gratitude to all of them.
Finally, we would like to thank all the respondents, for their kind cooperation and patience in
giving information and extending all students during this study.

Contents
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1.0 Executive Summary 3

1.1 Problem 3
1.2 Solution 3
1.3 Market 3
1.4 Competition 3
2.0 Products and Services 3
2.1 Problem 3
2.2 Our Solution 3
2.3 Validation of Problem and Solution 3
2.4 Roadmap/Future plans 3
3.0 Market Analyses Summary 3
3.1 Market Segmentation 3
3.2 Target Market Segment Strategy 3
3.2.1 Market Needs 3
3.2.2 Market Trends 3
3.2.3 Market Growth 3
3.3 Key Customers 3
3.4 Future Markets 3
3.5 Competition 3
3.5.1 Competitors and Alternatives 3
3.5.2 Our Advantages 3
4.0 Strategy and Implementation Summary 3
4.1 Marketing Plan 3
4.2 Sales Plan 3
4.3 Location and Facilities 3
4.4 Technology 3
4.5 Equipment and Tools 3
4.6 Milestones 3
4.7 Key Metrics 3

5.0 Company and Management Summary 3

5.1 Organizational Structure 3
5.2 Management Team 3
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5.3 Management Team Gaps 3

5.4 Personnel Plan 4
5.5 Company History and Ownership 4
6.0 Financial Plan 4
6.1 Revenue/Sales Forecast 4
6.2 Expenses 4
6.3 Projected Profit and Loss 4
6.4 Projected Cash Flow 4
6.5 Projected Balance Sheet 4
6.6 Business Ratios 4
7.0 Appendix 4
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1.0 Executive Summary

1.1 It is hard to find the desire platform at the time of recognition, value and career path. Further,
if anyone wants to pursue and needs a platform where the general public or music lovers can see
them performing, he or she needs to reach the audience themselves without any platform. I know
a group of singers who wants to embrace music as passion but they could not find any place
where they can get recognition apart from their own efforts.
1.2 Studio Maestro is an online platform and live set up of a studio which will solve the
problems of emerging musicians stated above. First of all it will be easy for the young musician
to get recognized and make use of their talent. Then, for live appearances or performance we will
be arranging live shows in our studio. The most important thing is that he/she can easily get
registered for a live audition and if they get selected, they will become the member of Maestro
Family in which we will give them way for further contracts for live shows.
1.3 Our market is mainly the young talented musicians having desire of making themselves a
good singer or a musician. These mainly targeted people are eager to ease out their daily life
through online and musical facilities available.
Studio Maestro has targeted these markets
➢ Emerging musicians who are seeking good platform within their city to get value in the
name of popularity and career orientation.
➢ Music lovers who every now and then crave for music or likes to be in a musical
environment.
➢ Artists who are already performing in their schools, colleges or universities.
1.4 Studio Maestro as of now holds no rival in its market. Studio Maestro is somewhat its own,
starting for the specific first time ever of. There are a few options yet they are not exceptionally
relatable to the possibility of Studio Maestro. Some Facebook posts or in WhatsApp videos, this
class has some place yet its distinctive in light of the fact that Studio Maestro won't just give
platform yet in addition offer them advantageous access to the arrangement by their audience.
1.5 It is estimated that start-up expenses will near PRs. This amount of money will be used to
purchase musical equipment, studio environment, website development, application development
and maintenance, promotion and other start-up expenses. We will also need approximately PRs.
100000 for cash on hand at start-up. Expenses and initial cash requirements will be funded by all
partners.

2.0Products and Services

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Studio Maestro is a music studio that intend to connect young and emerging musicians with the
music lovers of Faisalabad at one platform. The principle thought of this project is to give
simplicity and solace to Musicians while taking interests from public. It likewise settle the issues
that the young talent have to confront while making an approach. As the social media
communication technology is growing quickly, one can utilize this mobile’s application to beat
such issues for musical talents. There will be category of special Maestro Family in Faisalabad.
Built in search engine will be available through which user will be available to find your favorite
musician or desired area of performance. Our studio will become live for our public and the
singers who are emerging in our society will be taken on-board and we will assist them in every
way possible by providing them platform to get themselves recognize and make themselves a
worthy and popular part of your society.
2.1 Problem
It is hard to find the desire platform at the time of recognition, value and career path. Further, if
anyone wants to pursue and needs a platform where the general public or music lovers can see
them performing, he or she needs to reach the audience themselves without any platform. I know
a group of singers who wants to embrace music as passion but they could not find any place
where they can get recognition apart from their own efforts.

2.2 Our Solution

Studio Maestro is an online platform and live set up of a studio which will solve the problems of
emerging musicians stated above. First of all it will be easy for the young musician to get
recognized and make use of their talent. Then, for live appearances or performance we will be
arranging live shows in our studio. The most important thing is that he/she can easily get
registered for a live audition and if they get selected, they will become the member of Maestro
Family in which we will give them way for further contracts for live shows.

2.3 Validation of Problem and Solution

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We conducted interviews with several young talented musicians and talked about the issue and
they agreed that engaging with new audience which is unknown with their talent and talent
recognition is a great issue and then we gave our solution and they liked and thought it as a real
solution to these problems and approved it.
We also questioned many people and 85% agreed that they have hard time finding a platform
and making an impact with their talent is a great deal. So few of our researches validate the
problem and its solution.

2.4 Roadmap/Future plans

Studio Maestro intends to respond to market needs in future by
● We will soon open Studio Maestro for learning music who are eager to be a musician in
future
● Further, we will took Studio Maestro across the borders of the city and touch the talents
of Pakistan
● Adding musical record facility for our viewers that will be secured in one place.
● Complete facility of recording and composing a song.
● Karaoke singing in our Studio.
● We will contest the bands in the web series on YouTube
● Introduce a channel for Studio Maestro that will only highlight our talented musicians.

3.0 Market Analyses Summary

3.1 Market Segmentation

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Studio Maestro utilizations multi-fragment sort of situating and likewise, focuses on a few client
sections with various levels of administration. Studio Maestro offers every minute of every day
administrations for wellbeing cognizant or weak clients. In the meantime, Studio Maestro gives
chance to Musicians also to expand their odds to general public.

Type of Segmentation Segmentation Criteria Health-360 Target

Customer segment
1. Geographic Region Faisalabad City
Density Urban
2. Demographic Age 13+ or more
Gender Males & Females
Occupation Students, Employees,
Professionals, businessmen
and every element of society.
3. Behavioral Benefits sought Convenience, recognition,
sense awareness,
entertainment.
Personality Easygoing, creative
User Status Non users, potential users,
first-time users, regular users
4. Psychographic Social class Lower class, Middle class,
Working class and Elite class
Life style Aspirer and Explorer
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As were planning to start our business from Faisalabad our target market will be selected
according to its analysis. The total population of Faisalabad is 3.2 million.

3.2 Target Market Segment Strategy

Our target market is citizen of Faisalabad that includes musicians, their viewers who are mature,
have internet access and easy going.

Internet Users
Musicians
Music Lovers

3.2.1 Market Needs

We are living in a nation who faces serious difficulties when it comes to facilitation. Pakistan is a
crowded nation whose populace is ascending at considerably quicker pace. Along these lines, an
expansion in the odds of Talented musicians and music lovers as well. In this way, there was
dependably the need of musical studio in the nation. Presently, as the attention to the
entertainment industry cognizance is expanding, individuals are pulled in to survey their taste of
music as a hobby.
Just about 90% of the urban occupants don't very much aware of the great musicians residing in
their neighborhood. So keeping in see this extreme market hole in the city. We offers this Studio
Maestro to the inhabitants for their benefit.
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3.2.2 Market Trends

We are running in the 21st century world today and everything has been carefully or non-
carefully upset. On the off chance that we review the patterns of current market of Faisalabad,
we are in a vastly improved time to dispatch Studio Maestro for the city. As each business is
coming to its entertainment possibilities. In addition, the overall population likewise think that
it’s helpful to investigate over the web.
Positively, the general population of Faisalabad likewise getting to be entertained cognizant
which suits our better order on our business and its running strategies to draw in more quantities
of clients.

3.2.3 Market Growth

Music is a developing worldwide hobby and this market has especially to offer now and later on
as entertainment keeps up an absolute necessity component for each individual. This market has
shockingly high rate of progressive possibilities as it manages and touches the hobby and tastes
of people who loves music. Pakistan has seen high number of growth in the musical and
entertainment industry
This market has brilliant opportunities to develop consequently we are quickening the
development of this market by propelling Studio Maestro in this market. As this activity will
likewise makes the path for its speedier development and expanding awareness of musical souls
around the corner.

3.3 Key Customers

Studio Maestro manages musical administrations. In spite of the fact that its clients are
constrained to individual who are either eager to get talent recognition who will help these
individuals. Aside from it, by diving deep, we found that our potential clients are the individuals
who are over 18 of the age, overall population who approaches web or mindful of innovation.
Our potential clients would likewise be the present emerging stars or the understudies who are
prepared to take their Duties.

3.4 Future Markets

In future we plan to expand our market by targeting
● Composers
● Song Writers
● Multi lingual songs composition
● Restaurants to be targeted which will feature in Studio Maestro Program

3.5 Competition
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3.5.1 Competitors and Alternatives

Studio Maestro as of now holds no rival in its Faisalabad market. But Coke Studio and nescafe
basement are providing a little these kind of services under boundary of other cities but not
specifically in Faisalabad. Studio Maestro is somewhat its own, starting for the specific first
time ever of. There are a few options yet they are not exceptionally relatable to the possibility of
Studio Maestro. Some Facebook Posts or in WhatsApp videos, this class has some place yet its
distinctive in light of the fact that Studio Maestro won't just give data yet in addition offer them
advantageous access to the arrangement.

3.5.2 Our Advantages

Studio Maestro enjoys huge points of interest on account of new-ness in its sort of nature. It
advances more because of the expanding number of increasing taste and hobby with respect to
the music industry. In addition it so far of now, has no contender in Faisalabad market. So by
keeping in see these variables, it likewise gives Studio Maestro the space to play and experience
the things which will influence the general public and the business as well. It likewise gives us
preferred standpoint to hold the general public as much as we can till our rival emerges.
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4.0 Strategy and Implementation Summary

Our strategy for a successful start is based on quickly creating a high profile and name
recognition within the community through public speaking, networking, promotional events, and
print advertising. These marketing tools will be followed up with a sales strategy that relies on a
pleasant and accessible location, well-trained, highly motivated employees, and a commitment to
provide the best care and patient experience possible in every interaction. The advantage of this
strategy is that every element of it is within our control.

4.1 Marketing Plan 7Ps

Product
The product we have developed is a Studio where music to bring together the musicians and
Music lovers in Faisalabad at one platform. The purpose of this Studio is to make the scheduling
of live shows for musicians easy and entertaining.
The website will work in the following way. Initially, we will reach the musicians in this area
and register them on the website. The viewers can then search their wanted show and schedule of
the shows to happen in near future.

Price
No additional price will be charged from the viewers they will enjoy the musical environment
provided by Studio Maestro, however registered musicians will pay the registration fee
according to the instrument they would like to play.

Place
Studio Maestro will present initially in Faisalabad city and will look to start its operations in
different cities of Pakistan in near future. Our main studio will be set up in Faisalabad where its
routine operations will be done. It will have it’s headquarter in Faisalabad, Pakistan.

Physical evidence
Studio Maestro would have Studio in city of Faisalabad. Most of its business would be carried
out through the studio and online viewership from YouTube.

Promotion
We will use a few marketing techniques to promote our product. This will include print
advertisements in magazines and medical journals that have a wide reach. In addition to that,
targeted leaflet drops in residential areas and outside colleges and universities will be done.
Moreover, digital marketing through popular social media sites like Facebook, Instagram etc.
will be done. This relatively inexpensive method will target the mass market. We will also rely
on word of mouth to aid in brand proliferation.
We will also use Integrated Marketing Communication (IMC) technique. In which we will use
tools like advertising, public relations, direct marketing, sales promotion and personal selling.

Process
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When you have to get yourself registered, you just need to enter necessary details in our website
and the nearest will be allotted to you. You would be given fee charges that you can pay afyrt
visiting us and before your performance.

People
Studio is comprised of six partners and colleagues who are willing to serve the society with the
best entertainment they can. It is an initiative idea that belongs to innovation in the society. It
current structure consists of six Entrepreneurs;
• Elaf Anwar
• Mohammad Fasih
• Usama Naveed
• Hamza Amjad
• Usama Imtiaz
• Adnan Maqsood
Studio Maestro is new concept on the paths. Currently we intend to take operations in our hands
to run this business. Further, we will hire IT professional and other staff members over time.

4.2 Sales Plan

The sales process for Studio Maestro starts when a user visits our YouTube channel and get
register on our website. In every interaction, we must be accessible, courteous, knowledgeable,
and helpful. Our sales plan also include generating revenue through advertisement which include
pop-up ads, it will also include pay per view and pay per click. Other revenue generating plan is
to charge a few rupees cost to musicians who opt to play any instrument

4.3 Location and Facilities

We don’t have a physical location yet as everything will be done online but we intend to make a
small Studio for management meetings etc. as for the application services, in the initial period,
this application will cover the city of Faisalabad. After the pilot testing phase and success in
Faisalabad, the service will be extended to other cities as well.

4.4 Technology
In order to facilitate our users in the best manner, the app will be available in both the Google
Play Store and the App Store. It will also be user friendly and easy to navigate. Our website
includes google calender and schedule tracking system and online database.
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4.5 Equipment and Tools

Studio Maestro would require set of musical instruments like guitar, piano, drums, base guitar,
violin etc. Moreover, it would require to build a facility where electricity and necessary resources
to be available. Our website and mobile application will also feature in our equipment and tool
list.

4.6 Milestones
We have established some basic milestones to keep the business plan priorities in place.
Responsibility for implementation falls on the shoulders of all partners. This Milestones table
will be updated as the year progresses using the actual tables. New milestones will be added as
the first year of operations commences. Our milestones include
● Developing website and application
● Registering Musicians
● Designing and promotions
● Begin our first show

4.7 Key Metrics

Number of downloads
The number of times the app has been downloaded will be a direct indicator of how many people
are using the application. As there is an increase in number, it will give us an idea of our
performance. Measuring this against predetermined targets will help us track the growth.
Ratings given be the viewer
There will be an option to rate the app in terms of ease of use and. The ratings will be a key
performance metric for us as any fluctuation in ratings will inform us of our current performance.
These will be monitored weekly so as to amend our strategy accordingly.
The scheduling of shows
One of our major metric is the number of people who used the app and actually scheduled shows
through this platform. It will also keep track of which musician are the most searched.
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5.0 Company and Management Summary

5.1 Organizational Structure

CEO
Mohammed Fasih

CFO CMO CS CPR R&D Ofiicer

Elaf Anwar Usama Naveed Hamza Amjad Usama Imtiaz Adnan Maqsood

5.2 Management Team

Studio Maestro is comprised of six partners and colleagues who are willing to serve the society
with the best entertainment they can. It is an initiative idea that belongs to living up and accept
and entertaining the taste of society. It current structure consists of six Entrepreneurs;
● Elaf Anwar
● Mohammad Fasih
● Usama Naveed
● Hamza Amjad
● Usama Imtiaz
● Adnan Maqsood

5.3 Management Team Gaps

Studio Maestro is new concept on the paths. Currently we intend to take operations in our hands
to run this business. Therefore we also face some gaps which we try to coupe as we head towards
our journey.
The gaps which are currently existing in our management team are some of the follows:
● IT professionals
● Lack in marketing experience
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5.4 Company History and Ownership

Studio Maestro is Faisalabad based live music service provider which is initiated by the group of
young students with aim and vision to materialize the technological advancements for human
relaxation and adoption of their taste and hobby style.
This entrepreneurial group includes Elaf Anwar, Fasih Aman, Usama Naveed, Adnan Maqsood,
Usama Imtiaz and Hamza Amjad were from the pioneers who wished to serve the society with
their skills and motivation to do something better. This Company is going to cement its first
brick in 2018. And as the time will pass, this company probably would have been shaped by
much better outlook and goals.
Currently all the entrepreneurs listed above holds the same ratio of shares in company.

6.1 Revenue/Sales Forecast

6.2 Expenses
6.3 Projected Profit and Loss
6.4 Projected Cash Flow
6.5 Projected Balance Sheet
6.6 Business Ratios
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6.0 Financial Plan

Currently, the company is owned by the original 6 founders, who each will contribute Rs.
300,000 for the same amount of share. This will more than cover start-up requirements, and
provide the business with a cash cushion to use for expansion over the first five years.

START-UP FUNDING

Start-up Expenses to Fund

Start-up Assets to Fund

TOTAL FUNDING REQUIRED

Assets

First month rent 200000

Website 50,000

2 Guitars 60,000

Piano 72,000

Drums 50,000

DSLR camera 75,000

320000

7500

112000
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3 Laptops 50,000

Techzone 3 karaoke mics 70,000

Sony shake-k700 high power sudio system 20,000

Panasonic wireless speaker 18,000

ASUS Projector 35,000

HIK Vision 4 CCTV 280000

Lights 80,000

6 Fans 20,000

4 Air Conditioners 45,000

Sofa set

Front desk

4 office chairs

TOTAL ASSETS RS. 1564500

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Liabilities and Capital

Liabilities

Current Borrowing RS. 500000

TOTAL LIABILITIES RS. 500000

Capital

Planned Investment

Elaf Anwar 200,000

Fasih Aman 200,000

Hamza Amjad 200,000

Usama Naveed 200,000

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Usama Imtiaz 200,000

Adnan Maqsood 200,000

TOTAL PLANNED INVESTMENT RS. 1200000

TOTAL CAPITAL RS. 1700000

TOTAL CAPITAL AND LIABILITIES RS. 1700000

BREAK-EVEN ANALYSIS

Monthly registrations Break-even 300

Monthly Revenue Break-even RS. 400000

Assumptions:
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Average Per-Unit Revenue RS. 3500

Average Per-Unit Variable Cost RS. 200

Estimated Monthly Fixed Cost RS. 320000

EXPENSES

First month rent 200000

Website 50,000

2 Guitars 60,000

Piano 72,000

Drums 50,000

DSLR camera 75,000

5 Laptops 320000

Techzone 3 karaoke mics 7500

Sony shake-k700 high power sudio system 112000

Panasonic wireless speaker 50,000

ASUS Projector 70,000

HIK Vision 4 CCTV 20,000

Lights 18,000
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7 Fans 35,000

4 Air Conditioners 280000

Sofa set 80,000

Front desk 20,000

6 office chairs 45,000

TOTAL EXPENSES RS. 1564500

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Projected Profit and Loss

As the Profit and Loss shows, Studio Maestro will run for the first two years, using up some of
the cash reserves initially invested by the founders. As sales increase, we will expand into new
locations to aggressively spread brand recognition. This increase in visibility will allow us to
take up less expensive locations off of Jaranwala Road, while maintaining our flagship operation,
the first store, in a prime spot.
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PRO FORMA PROFIT AND LOSS

YEAR 1 YEAR 2 YEAR 3

Sales 1800000 2050000 2500000

Direct Cost of Sales 1000000 1300000 1455000

Other Costs of Sales 0 0 0

TOTAL COST OF SALES 1000000 1300000 1455000

Gross Margin 1217207 1434413 1868826

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Gross Margin % 77.81% 77.81% 77.81%

Expenses

Payroll 88,200 262,000 449,600

Marketing/Promotion 500,000 300,000 200,000

Depreciation $0 $0 $0

Rent 2400000 2400000 240000

Utilities 500000 550000 600000

Total Operating Expenses 3488200 3512000 1489600

Projected Balance Sheet

Studio Maestro projected company balance sheet follows. We expect to run at a

less profit for the first two years, decreasing our net worth slightly. As the
operation becomes more profitable in the third year, our net worth rises again.

PRO FORMA BALANCE SHEET

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YEAR 1 YEAR 2 YEAR 3

Assets

Current Assets

Cash RS. 1200000 RS. 1500000 RS. 1800000

Other Current Assets $0 $0 $0

TOTAL CURRENT ASSETS RS. RS. RS.

1200000 1500000 1800000

Long-term Assets

Long-term Assets $0 $0 $0

Accumulated Depreciation $0 $0 $0

TOTAL LONG-TERM ASSETS $0 $0 $0

TOTAL ASSETS RS. RS. RS.

1564500 1400000 1350000
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Liabilities and Capital Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable RS. 200000 RS. 200000 RS. 100000

Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

SUBTOTAL CURRENT LIABILITIES RS. 200000 RS. 200000 RS. 100000

Paid-in Capital 800,000 800,000 800,000

Retained Earnings 268800 351343 291,93)

Earnings 682,543 740,587 853,226

TOTAL CAPITAL RS. RS. RS.

1700000 1700000 1700000
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Business Ratios

The following table outlines some of the more important ratios from the Studio
Maestro. The final column, Industry Profile, details specific ratios based on the
industry.

RATIO ANALYSIS

YEAR 1 YEAR 2 YEAR 3 INDUSTRY

PROFILE

Sales Growth 0.00% 100.00% 100.00% 8.67%

Percent of Total Assets

Other Current Assets 0.00% 0.00% 0.00% 37.31%

Total Current Assets 100.00% 100.00% 100.00% 45.97%

Long-term Assets 0.00% 0.00% 0.00% 54.03%

TOTAL ASSETS 100.00% 100.00% 100.00 100.00%

%

Current Liabilities 4.31% 6.60% 8.25% 17.94%

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Long-term Liabilities 0.00% 0.00% 0.00% 22.26%

Total Liabilities 4.31% 6.60% 8.25% 40.20%

NET WORTH 95.69% 93.40% 91.75% 59.80%

Percent of Sales

Sales 100.00% 100.00% 100.00% 100.00%

Gross Margin 77.81% 77.81% 77.81% 59.05%

Selling, General & Administrative 107.37% 102.99% 73.04% 39.24%

Expenses

Advertising Expenses 0.00% 0.00% 0.00% 1.96%

Profit Before Interest and Taxes -29.57% -25.18% 4.77% 1.92%

Main Ratios

Current 23.18 15.15 12.13 1.04

Quick 23.18 15.15 12.13 0.66

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Total Debt to Total Assets 4.31% 6.60% 8.25% 50.22%

Pre-tax Return on Net Worth -12.73% -27.67% 9.48% 6.90%

Pre-tax Return on Assets -12.18% -25.84% 8.70% 13.87%

Additional Ratios Year 1 Year 2 Year 3

Net Profit Margin -29.57% -25.18% 4.77% n.a

Return on Equity -12.73% -27.67% 9.48% n.a

Activity Ratios

Accounts Payable Turnover 9.35 12.17 12.17 n.a

Payment Days 27 27 26 n.a

Total Asset Turnover 0.41 1.03 1.83 n.a

Debt Ratios

Debt to Net Worth 0.05 0.07 0.09 n.a

Current Liab. to Liab. 1.00 1.00 1.00 n.a

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Liquidity Ratios

Net Working Capital $648,657 $508,070 $561,296 n.a

Interest Coverage 0.00 0.00 0.00 n.a

Additional Ratios

Assets to Sales 2.43 0.97 0.55 n.a

Current Debt/Total Assets 4% 7% 8% n.a

Acid Test 23.18 15.15 12.13 n.a

Sales/Net Worth 0.43 1.10 1.99 n.a

Dividend Payout 0.00 0.00 0.00 n.a