Medical Scanning Lab Business Plan

Scan Lab Medical Imaging is a start-up company offering medical image scanning tests in New Bedford, Massachusetts.

The Market
Scan Lab will target insurance carriers, who play a crucial role in the billing process as 99% of scans are billed through insurance. Scan Lab understands the importance of gaining approval from insurance carriers and aims to be approved by all popular insurance plans.

Once approved, Scan Lab will rely on physician referrals. Factors influencing these referrals include geographic location, accepted insurance, and the specific type of scan. To attract referring doctors, a strong marketing and sales campaign will be implemented.

Services
Scan Lab offers a wide variety of radiology-based scanning tests. Equipped with state-of-the-art technology and expert medical training, Scan Lab provides valuable consultations to referring physicians.

Management
Dr. Carolyn Jones will lead Scan Lab, bringing her specialization in radiology and 13 years of experience practicing at a renowned Boston clinic.

1.1 Mission

Scan Lab’s mission is to become the leading medical scanning technology provider in New Bedford through friendly service, accepting various insurance plans, and delivering accurate analyses.

Medical Scanning Lab Business Plan Example

1.2 Objectives

– Capture 40% of local physicians’ business within two years.

– Reach profitability within two years.

– Double sales by year three.

1.3 Keys to Success

– Only purchase medical equipment in demand within the community.

– Provide fast, friendly service with accurate readings.

– Employ strict financial controls to manage expensive capital costs associated with medical imaging equipment.

Company Summary

Scan Lab is a Massachusetts corporation solely owned by Carolyn Jones.

2.1 Start-up Summary

Scan Lab needs to purchase necessary equipment for the clinic.

    Office furniture for four exam rooms, purchased used in good condition as a cost-saving measure.

    – Receptionist office furniture and assorted waiting room furniture, also purchased in good, used condition.

    – Three computers, one with QuickBooks Pro, all with Microsoft Office, a central laser printer, and broadband Internet connection.

    – Medical scanning devices:

    – X-ray machine

    – Ultra sound unit

    – CAT scan imaging machine

    – MRI imaging machine

    Medical Scanning Lab Business Plan Example

    Start-up Requirements

    Start-up Expenses

    Legal: $3,000

    Stationery etc.: $300

    Brochures: $300

    Consultants: $2,000

    Insurance: $3,000

    Rent: $2,000

    Total Start-up Expenses: $10,600

    Start-up Assets

    Cash Required: $317,900

    Other Current Assets: $0

    Long-term Assets: $861,500

    Total Assets: $1,179,400

    Total Requirements: $1,190,000

    Start-up Funding

    Start-up Expenses to Fund: $10,600

    Start-up Assets to Fund: $1,179,400

    Total Funding Required: $1,190,000

    Assets

    Non-cash Assets from Start-up: $861,500

    Cash Requirements from Start-up: $317,900

    Additional Cash Raised: $0

    Cash Balance on Starting Date: $317,900

    Total Assets: $1,179,400

    Liabilities and Capital

    Liabilities

    Current Borrowing: $0

    Long-term Liabilities: $860,000

    Accounts Payable (Outstanding Bills): $0

    Other Current Liabilities (interest-free): $0

    Total Liabilities: $860,000

    Capital

    Planned Investment

    Dr. Jones: $180,000

    Investor: $150,000

    Additional Investment Requirement: $0

    Total Planned Investment: $330,000

    Loss at Start-up (Start-up Expenses): ($10,600)

    Total Capital: $319,400

    Total Capital and Liabilities: $1,179,400

    Total Funding: $1,190,000

    2.2 Company Ownership

    Carolyn Jones is the sole stockholder of the Scan Lab corporation.

    Services

    Scan Lab offers New Bedford physicians a wide range of diagnostic scanning tests. Due to the high cost of scanning equipment for occasional use, most small clinics and practices use an outside service provider for scanning needs. The following scans will be offered:

    X-Ray: An X-ray uses electromagnetic energy beams to produce images of internal tissues, bones, and organs on film. X-rays are used to find tumors or bone injuries.

    Diagnostic scanning requires analysis by a radiologist.

    Market Analysis Summary

    Scan Lab has identified two customer segments: medical insurance carriers and physicians. Insurance companies often dictate who can provide scanning services, making attracting large insurance carriers crucial. Scan Lab has informally accepted bid proposals from the three largest carriers in the state.

    Physicians have the choice to recommend their patients to a preferred lab.

    4.1 Market Segmentation

    Scan Lab will target the three largest medical insurance carriers: Aetna, Cigna, and Prudential. Smaller carriers will be targeted later.

    Scan Lab is in negotiations with these carriers to become an approved facility. The lab must agree to the carriers’ rates and adhere to specific filing and billing procedures.

    Physicians make referrals based on factors such as familiarity, patient insurance, scan type, and location convenience.

    Medical Scanning Lab Business Plan Example

    Market Analysis:

    [table]

    [tr]

    [td]Year 1[/td]

    [td]Year 2[/td]

    [td]Year 3[/td]

    [td]Year 4[/td]

    [td]Year 5[/td]

    [/tr]

    [tr]

    [td]Potential Customers[/td]

    [td]Growth[/td]

    [td]CAGR[/td]

    [/tr]

    [tr]

    [td]Insurance companies[/td]

    [td]1%[/td]

    [td]21[/td]

    [td]21[/td]

    [td]21[/td]

    [td]21[/td]

    [td]21[/td]

    [td]0.00%[/td]

    [/tr]

    [tr]

    [td]Physicians[/td]

    [td]4%[/td]

    [td]235[/td]

    [td]244[/td]

    [td]254[/td]

    [td]264[/td]

    [td]275[/td]

    [td]4.01%[/td]

    [/tr]

    [tr]

    [td]Total[/td]

    [td]3.70%[/td]

    [td]256[/td]

    [td]265[/td]

    [td]275[/td]

    [td]285[/td]

    [td]296[/td]

    [td]3.70%[/td]

    [/tr]

    [/table]

    Target Market Segment Strategy:

    The insurance companies approve scanning facilities for their insurance plans, typically for one to two years.

    Physicians direct patients to Scan Lab due to the convenience of its location.

    Service Business Analysis:

    The medical imaging industry operates under two models: large clinics/practices that buy equipment for their physicians, and outside service providers.

    Small clinics/practices find equipment cost prohibitive and opt for outside service providers.

    Scan Lab’s competitors typically offer limited services beyond medical imaging tests and radiologist analysis.

    A profitable capacity is having five MRIs per 100,000 people; New Bedford has 12 for its population of 300,000.

    Competition and Buying Patterns:

    Nine direct competitors exist in the area.

    Scan Lab also competes indirectly with clinics and large practices with their own equipment.

    Strategy and Implementation Summary:

    Scan Lab’s competitive edge lies in its advanced equipment and experienced, nationally recognized radiologist, Dr. Carolyn Jones.

    Marketing efforts are focused on creating awareness of Scan Lab’s strengths and distinctiveness.

    Insurance companies are targeted through sales campaigns, while doctors are targeted to become referring doctors.

    Competitive Edge:

    Dr. Carolyn Jones is a nationally recognized radiology expert, offering valuable consultations to referring doctors.

    Marketing Strategy:

    Scan Lab communicates its advanced technology and expert analysis through various methods, including the Yellow Pages.

    Sales Strategy:

    Scan Lab aims to convert qualified leads into referring physicians by emphasizing Dr. Jones’ expertise.

    Convenient and pleasant experiences for patients and high-quality radiologist analysis for physicians are prioritized.

    Networking with insurance carriers is essential to understanding bid expectations.

    Sales Forecast:

    Scan Lab projects conservative sales growth, with steady growth starting in the seventh month.

    The provided text has been condensed and streamlined to enhance readability and reduce redundancy while maintaining the integrity and tone of the original content.

    Medical Scanning Lab Business Plan Example

    Medical Scanning Lab Business Plan Example

    Sales Forecast:

    Sales Forecast
    Year 1 Year 2 Year 3
    Sales
    X-ray $124,292 $130,500 $143,550
    Ultrasound $73,332 $77,000 $84,700
    CAT scan $136,721 $143,000 $157,300
    MRI $87,999 $92,000 $101,200
    Total Sales $422,344 $442,500 $486,750
    Direct Cost of Sales Year 1 Year 2 Year 3
    X-ray $28,587 $30,000 $30,900
    Ultrasound $16,866 $18,000 $18,540
    CAT scan $31,446 $33,000 $34,000
    MRI $20,240 $21,300 $22,000
    Subtotal Direct Cost of Sales $97,139 $102,300 $105,440

    5.4 Milestones

    Scan Lab has chosen quantifiable milestones as goals for the organization. The following table details the specific milestones, estimated time frames, and responsible employees.

    Medical Scanning Lab Business Plan Example

    Milestones

    Milestone Start Date End Date Budget Manager Department

    Business plan completion 6/1/2003 12/1/2003 $0 Carolyn Business Development

    Secure lease 12/1/2003 2/28/2004 $0 Carolyn Operations

    Equipment purchases 1/1/2004 3/1/2004 $0 Carolyn Operations

    Facility open 3/1/2004 3/30/2004 $0 Carolyn Operations

    Profitability 10/30/2004 1/31/2005 $0 Carolyn Accounting

    Totals $0

    Web Plan Summary

    Scan Lab will have a website providing information on services offered and Dr. Jones’ professional experience.

    6.1 Website Marketing Strategy

    Scan Lab will use two marketing techniques to alert prospective customers to the site. The first is displaying the Web address on all literature. The second is submitting the website URL to multiple search engines. This ensures that when a customer searches for "New Bedford MRI," they will be directed to www.scanlab.com.

    6.2 Development Requirements

    The website will be designed and built by a local computer science student.

    Management Summary

    Dr. Carolyn Jones will lead Scan Lab. She received her medical degree from The University of California San Diego, known for their radiology. Dr. Jones completed her residency at John Hopkins and worked at a large clinic in Boston.

    Dr. Jones has published 14 articles and frequently presents her papers at conferences.

    7.1 Personnel Plan

    Scan Lab requires the following positions/responsibilities:

    – Dr. Jones: Resident radiologist, responsible for business development, marketing, and sales.

    Personnel Plan

    Year 1 Year 2 Year 3

    Dr. Jones $60,000 $61,800 $63,654

    Technicians $48,000 $49,440 $50,923

    Other $19,200 $19,776 $20,269

    Total People 5 5 5

    Total Payroll $127,200 $131,016 $134,846

    Financial Plan

    The following sections outline Scan Lab’s financial planning.

    8.1 Important Assumptions

    The table below details important financial assumptions.

    General Assumptions

    Year 1 Year 2 Year 3

    Plan Month 1 2 3

    Current Interest Rate 10.00% 10.00% 10.00%

    Long-term Interest Rate 10.00% 10.00% 10.00%

    Tax Rate 30.00% 30.00% 30.00%

    Other 0 0 0

    8.2 Break-even Analysis

    The Break-even Analysis indicates the monthly revenue needed to reach the break-even point.

    Medical Scanning Lab Business Plan Example

    Break-even Analysis:

    Monthly Revenue Break-even: $40,582.

    Assumptions:

    – Average Percent Variable Cost: 23%.

    – Estimated Monthly Fixed Cost: $31,248.

    8.3 Projected Profit and Loss:

    The following table and charts will indicate Projected Profit and Loss.

    Medical Scanning Lab Business Plan Example

    Medical Scanning Lab Business Plan Example

    Medical Scanning Lab Business Plan Example

    Medical Scanning Lab Business Plan Example

    Pro Forma Profit and Loss:

    Sales:

    – Year 1: $422,344

    – Year 2: $442,500

    – Year 3: $486,750

    Direct Cost of Sales:

    – Year 1: $97,139

    – Year 2: $102,300

    – Year 3: $105,440

    Other Costs of Sales:

    – Year 1-3: $0

    Total Cost of Sales:

    – Year 1: $97,139

    – Year 2: $102,300

    – Year 3: $105,440

    Gross Margin:

    – Year 1: $325,205

    – Year 2: $340,200

    – Year 3: $381,310

    Gross Margin %:

    – Year 1: 77.00%

    – Year 2: 76.88%

    – Year 3: 78.34%

    Expenses:

    Payroll:

    – Year 1: $127,200

    – Year 2: $131,016

    – Year 3: $134,846

    Sales and Marketing and Other Expenses:

    – Year 1: $6,000

    – Year 2-3: $0

    Depreciation:

    – Year 1: $172,300

    – Year 2-3: $0

    Rent:

    – Year 1: $24,000

    – Year 2-3: $0

    Utilities:

    – Year 1: $6,000

    – Year 2-3: $0

    Insurance:

    – Year 1: $18,000

    – Year 2-3: $0

    Payroll Taxes:

    – Year 1: $19,080

    – Year 2-3: $0

    Other:

    – Year 1: $2,400

    – Year 2-3: $0

    Total Operating Expenses:

    – Year 1: $374,980

    – Year 2: $131,016

    – Year 3: $134,846

    Profit Before Interest and Taxes:

    – Year 1: ($49,775)

    – Year 2: $209,184

    – Year 3: $246,464

    EBITDA:

    – Year 1-3: $122,525

    Interest Expense:

    – Year 1: $79,500

    – Year 2: $68,000

    – Year 3: $56,000

    Taxes Incurred:

    – Year 1: $0

    – Year 2: $42,355

    – Year 3: $57,139

    Net Profit:

    – Year 1: ($129,275)

    – Year 2: $98,829

    – Year 3: $133,325

    Net Profit/Sales:

    – Year 1: -30.61%

    – Year 2: 22.33%

    – Year 3: 27.39%

    8.4 Projected Cash Flow:

    The following table and chart indicate Projected Cash Flow.

    Medical Scanning Lab Business Plan Example

    Pro Forma Cash Flow
    Year 1 Year 2 Year 3
    Cash Received
    Cash from Operations
    Cash Sales $105,586 $110,625 $121,688
    Cash from Receivables $240,226 $328,223 $357,044
    Subtotal Cash from Operations $345,812 $438,848 $478,732
    Additional Cash Received
    Sales Tax, VAT, HST/GST Received $0 $0 $0
    New Current Borrowing $0 $0 $0
    New Other Liabilities (interest-free) $0 $0 $0
    New Long-term Liabilities $0 $0 $0
    Sales of Other Current Assets $0 $0 $0
    Sales of Long-term Assets $0 $0 $0
    New Investment Received $0 $0 $0
    Subtotal Cash Received $345,812 $438,848 $478,732
    Expenditures
    Year 1 Year 2 Year 3
    Expenditures from Operations
    Cash Spending $127,200 $131,016 $134,846
    Bill Payments $227,987 $219,308 $218,092
    Subtotal Spent on Operations $355,187 $350,324 $352,938
    Additional Cash Spent
    Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
    Principal Repayment of Current Borrowing $0 $0 $0
    Other Liabilities Principal Repayment $0 $0 $0
    Long-term Liabilities Principal Repayment $120,000 $120,000 $120,000
    Purchase Other Current Assets $0 $0 $0
    Purchase Long-term Assets $0 $0 $0
    Dividends $0 $0 $0
    Subtotal Cash Spent $475,187 $470,324 $472,938
    Net Cash Flow ($129,375) ($31,477) $5,793
    Cash Balance $188,525 $157,048 $162,841

    8.5 Projected Balance Sheet

    The following table indicates the Projected Balance Sheet.

    Pro Forma Balance Sheet
    Year 1 Year 2 Year 3
    Assets
    Current Assets
    Cash $188,525 $157,048 $162,841
    Accounts Receivable $76,532 $80,184 $88,203
    Other Current Assets $0 $0 $0
    Total Current Assets $265,057 $237,232 $251,044
    Long-term Assets
    Long-term Assets $861,500 $861,500 $861,500
    Accumulated Depreciation $172,300 $172,300 $172,300
    Total Long-term Assets $689,200 $689,200 $689,200
    Total Assets $954,257 $926,433 $940,244
    Liabilities and Capital
    Year 1 Year 2 Year 3
    Current Liabilities
    Accounts Payable $24,132 $17,479 $17,965
    Current Borrowing $0 $0 $0
    Other Current Liabilities $0 $0 $0
    Subtotal Current Liabilities $24,132 $17,479 $17,965
    Long-term Liabilities $740,000 $620,000 $500,000
    Total Liabilities $764,132 $637,479 $517,965
    Paid-in Capital $330,000 $330,000 $330,000
    Retained Earnings ($10,600) ($139,875) ($41,046)
    Earnings ($129,275) $98,829 $133,325
    Total Capital $190,125 $288,954 $422,279
    Total Liabilities and Capital $954,257 $926,433 $940,244
    Net Worth $190,125 $288,954 $422,279

    8.6 Business Ratios

    The following table details Business Ratios for Scan Lab and the Diagnostic Imaging Center industry (NAICS code 612512).

    Ratio Analysis
    Year 1 Year 2 Year 3 Industry Profile
    Sales Growth 0.00% 4.77% 10.00% 8.83%
    Percent of Total Assets
    Accounts Receivable 8.02% 8.66% 9.38% 29.41%
    Other Current Assets 0.00% 0.00% 0.00% 48.00%
    Total Current Assets 27.78% 25.61% 26.70% 80.30%
    Long-term Assets 72.22% 74.39% 73.30% 19.70%
    Total Assets 100.00% 100.00% 100.00% 100.00%
    Current Liabilities
    Accounts Payable 2.53% 1.89% 1.91% 30.82%
    Long-term Liabilities 77.55% 66.92% 53.18% 21.77%
    Total Liabilities 80.08% 68.81% 55.09% 52.59%
    Net Worth 19.92% 31.19% 44.91% 47.41%
    Percent of Sales
    Sales 100.00% 100.00% 100.00% 100.00%
    Gross Margin 77.00% 76.88% 78.34% 100.00%
    Selling, General & Administrative Expenses 102.84% 0.00% 0.00% 66.55%
    Advertising Expenses 0.00% 0.00% 0.00% 0.85%
    Profit Before Interest and Taxes -11.79% 47.27% 50.63% 5.72%
    Main Ratios
    Current 10.98 13.57 13.97 1.77
    Quick 10.98 13.57 13.97 1.49
    Total Debt to Total Assets 80.08% 68.81% 55.09% 54.16%
    Pre-tax Return on Net Worth -67.99% 48.86% 45.10% 6.71%
    Pre-tax Return on Assets -13.55% 15.24% 20.26% 14.64%
    Additional Ratios Year 1

    Personnel Plan:

    Dr. Jones: 0%, $0, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000

    Technicians: 0%, $0, $0, $0, $3,000, $3,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000, $6,000

    Other: 0%, $0, $0, $0, $1,200, $1,200, $2,400, $2,400, $2,400, $2,400, $2,400, $2,400, $2,400

    Total People: 0, 0, 0, 3, 3, 5, 5, 5, 5, 5, 5, 5, 5, 5

    Total Payroll: $0, $0, $6,000, $10,200, $10,200, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400

    General Assumptions:

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

    Current Interest Rate: 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%

    Long-term Interest Rate: 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%, 10.00%

    Tax Rate: 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%, 30.00%

    Other: 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0

    Pro Forma Profit and Loss:

    Sales: $0, $0, $18,689, $29,104, $33,997, $42,319, $44,585, $47,589, $50,933, $51,357, $51,870, $51,901

    Direct Cost of Sales: $0, $0, $4,298, $6,694, $7,819, $9,733, $10,255, $10,945, $11,715, $11,812, $11,930, $11,937

    Other Costs of Sales: $0, $0, $0, $0, $0, $0, $0, $0, $0, $0, $0, $0

    Total Cost of Sales: $0, $0, $4,298, $6,694, $7,819, $9,733, $10,255, $10,945, $11,715, $11,812, $11,930, $11,937

    Gross Margin: $0, $0, $14,391, $22,410, $26,178, $32,585, $34,331, $36,644, $39,218, $39,545, $39,940, $39,964

    Gross Margin %: 0.00%, 0.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%, 77.00%

    Expenses:

    Payroll: $0, $0, $6,000, $10,200, $10,200, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400, $14,400

    Sales and Marketing and Other Expenses: $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500

    Depreciation: $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358, $14,358

    Rent: $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000, $2,000

    Utilities: $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500

    Insurance: $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500, $1,500

    Payroll Taxes: 15%, $0, $0, $900, $1,530, $1,530, $2,160, $2,160, $2,160, $2,160, $2,160, $2,160, $2,160

    Other: $200, $200, $200, $200, $200, $200, $200, $200, $200, $200, $200, $200, $200

    Total Operating Expenses: $19,058, $19,058, $25,958, $30,788, $30,788, $35,618, $35,618, $35,618, $35,618, $35,618, $35,618, $35,618, $35,618

    Profit Before Interest and Taxes: ($19,058), ($19,058), ($11,568), ($8,378), ($4,611), ($3,033), ($1,288), $1,025, $3,600, $3,927, $4,322, $4,346

    EBITDA: ($4,700), ($4,700), $2,791, $5,980, $9,748, $11,325, $13,071, $15,384, $17,958, $18,285, $18,680, $18,704

    Interest Expense: $7,083, $7,000, $6,917, $6,833, $6,750, $6,667, $6,583, $6,500, $6,417, $6,333, $6,250, $6,167

    Taxes Incurred: $0, $0, $0, $0, $0, $0, $0, $0, $0, $0, $0, $0

    Net Profit: ($26,142), ($26,058), ($18,484), ($15,212), ($11,361), ($9,700), ($7,871), ($5,475), ($2,817), ($2,406), ($1,928), ($1,821)

    Net Profit/Sales: 0.00%, 0.00%, -98.91%, -52.27%, -33.42%, -22.92%, -17.65%, -11.50%, -5.53%, -4.69%, -3.72%, -3.51%

    Pro Forma Cash Flow

    Pro Forma Cash Flow
    Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
    Cash Received
    Cash from Operations
    Cash Sales $0 $0 $4,672 $7,276 $8,499 $10,580 $11,146 $11,897 $12,733 $12,839 $12,968 $12,975
    Cash from Receivables $0 $0 $0 $467 $14,277 $21,950 $25,706 $31,796 $33,514 $35,775 $38,210 $38,531
    Subtotal Cash from Operations $0 $0 $4,672 $7,743 $22,776 $32,530 $36,852 $43,693 $46,247 $48,615 $51,178 $51,506
    Additional Cash Received
    Sales Tax, VAT, HST/GST Received 0.00% $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
    New Other Liabilities (interest-free) $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
    Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    Subtotal Cash Received $0 $0 $4,672 $7,743 $22,776 $32,530 $36,852 $43,693 $46,247 $48,615 $51,178 $51,506
    Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
    Expenditures from Operations
    Cash Spending $0 $0 $6,000 $10,200 $10,200 $14,400 $14,400 $14,400 $14,400 $14,400 $14,400 $14,400
    Bill Payments $393 $11,781 $11,871 $16,913 $19,792 $20,881 $23,275 $23,718 $24,328 $24,992 $25,007 $25,038
    Subtotal Spent on Operations $393 $11,781 $17,871 $27,113 $29,992 $35,281 $37,675 $38,118 $38,728 $39,392 $39,407 $39,438
    Additional Cash Spent
    Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
    Long-term Liabilities Principal Repayment $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
    Purchase Other Current Assets $0 $

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