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Table of Contents
1.0 Executive Summary...............................................................................................................................1 1.1 Objectives..........................................................................................................................................2 1.2 Mission...............................................................................................................................................2 1. !eys to Success..................................................................................................................................2 C"art# $ig"lig"ts.................................................................................................................................. 2.0 Com%any Summary............................................................................................................................... 2.1 Com%any O&ners"i%......................................................................................................................... 2.2 Start'u% Summary..............................................................................................................................( Table# Start'u%.....................................................................................................................................) C"art# Start'u%......................................................................................................................................) .0 Pro*ucts..................................................................................................................................................) (.0 Mar+et ,nalysis Summary....................................................................................................................(.1 Mar+et Segmentation.......................................................................................................................... C"art# Mar+et ,nalysis /Pie0...............................................................................................................1 Table# Mar+et ,nalysis........................................................................................................................1 (.2 Target Mar+et Segment Strategy.......................................................................................................1 (. 2n*ustry ,nalysis.............................................................................................................................10 (. .1 Com%etition an* 3uying Patterns.............................................................................................10 ).0 Strategy an* 2m%lementation Summary...............................................................................................11 ).1 Com%etitive E*ge.............................................................................................................................11 ).2 Mar+eting Strategy...........................................................................................................................12 ).2.1 Message Matrices......................................................................................................................1 ). Sales Strategy...................................................................................................................................1) ). .1 Sales 4orecast............................................................................................................................1C"art# Sales Mont"ly.....................................................................................................................15 C"art# Sales by 6ear......................................................................................................................15 Table# Sales 4orecast.....................................................................................................................1. ). .2 7ecruitment an* Training.........................................................................................................1. ). . Sales Process.............................................................................................................................11 ).( Milestones........................................................................................................................................11 Table# Milestones...............................................................................................................................22 C"art# Milestones...............................................................................................................................2 -.0 8eb Plan Summary.............................................................................................................................2 -.1 8ebsite Mar+eting Strategy............................................................................................................2 -.2 9evelo%ment 7e:uirements.............................................................................................................2( 5.0 Management Summary........................................................................................................................2( 5.1 Personnel Plan..................................................................................................................................2( Table# Personnel.................................................................................................................................2) ..0 4inancial Plan.......................................................................................................................................2) ..1 Start'u% 4un*ing..............................................................................................................................2Table# Start'u% 4un*ing.....................................................................................................................2..2 2m%ortant ,ssum%tions....................................................................................................................25 Table# ;eneral ,ssum%tions..............................................................................................................25 Page 1
Table of Contents
................................................................................................................................................................25 .. 3rea+'even ,nalysis........................................................................................................................2. Table# 3rea+'even ,nalysis...............................................................................................................2. C"art# 3rea+'even ,nalysis...............................................................................................................2. ..( Projecte* Profit an* <oss.................................................................................................................21 C"art# Profit Mont"ly......................................................................................................................... 0 C"art# Profit 6early............................................................................................................................ 0 C"art# ;ross Margin Mont"ly............................................................................................................ 1 C"art# ;ross Margin 6early............................................................................................................... 1 Table# Profit an* <oss........................................................................................................................ 2 ................................................................................................................................................................ ..) Projecte* Cas" 4lo&........................................................................................................................ Table# Cas" 4lo&............................................................................................................................... C"art# Cas"......................................................................................................................................... ..- Projecte* 3alance S"eet................................................................................................................... Table# 3alance S"eet.......................................................................................................................... 2 ( ( (
..5 3usiness 7atios................................................................................................................................ ) Table# 7atios...................................................................................................................................... Table# Sales 4orecast...................................................................................................................................1 ......................................................................................................................................................................1 Table# Personnel...........................................................................................................................................2 ......................................................................................................................................................................2 Table# Profit an* <oss.................................................................................................................................. ......................................................................................................................................................................( Table# Cas" 4lo&.........................................................................................................................................) ......................................................................................................................................................................Table# 3alance S"eet....................................................................................................................................5
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9.* Eission We provide post:acute:care facilities with product solutions to help manage complications of G disease. We take pride in helping to alleviate patient suffering associated with these conditions. 9.I Peys to #uccess 9. We offer a comprehensive line of innovative, top -uality products. *. We provided une-ualed clinical support on a regional $national& level to post acute facilities. I. We have close relationships with key decision makers in top post acute chains, and with key administrators and clinicians at the facility level. J. We do an e6ceptional job of articulating the value of our products and solutions.We position ourselves in a clear, powerful, and memorable way in the marketplace. 2. We have an organiMation with a uni-ue spirit that makes people eager to join us or do business with us. Nnce people join us, they canQt imagine working anywhere else.
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*.+ 1ompany #ummary Denergy Eedical ,ndustries will be seen by post:acute:care providers as .FC source for product solutions to manage the complications of G disease. We are a start:up company that will initially distribute a full line of disease therapies and medications, followed by additional complimentary products that fit with our strategy. Denergy Eedical ,ndustriesQ head-uarters will be in 1harleston, #.1. Nur source of differentiation will be in our distribution and marketing strategies. We will leverage our corporate account relationships and create marketing programs to drive demand for our products solutions at the corporate level. We will establish a uni-ue network of clinical sales professionals, first in the #outheast, then nationwide, who will then build relationships at the facility level by providing value:added service and e6pertise to caregivers. 7egulatory ,ssues As distributors, our only relevant compliance issues are to stay in compliance with 1E#Qs supplier standards as regulated by the BEC71s and to stay in compliance with F, AA regulations regarding patient data. *.9 1ompany Nwnership Denergy Eedical ,ndustries is a division of )inkelstein and Acropolis, LL1., which is e-ually owned by Acropolis, )inkelstein, and Aktum. 1apital for start:up costs will be provided out of private funds from Acropolis, )inkelstein, and Aktum. Denergy Eedical ,ndustries will also seek an #'A Eicro:Loan to supplement the private funding provided by the three managing e6ecutives.
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Eore specifically, start:up re-uirements include the following! Legal fees to draw up employment agreements and various company legal documents. Nffice supplies and stationery to purchase business cards and stationery with the new companyQs information@ this is also intended to cover basic office supplies $pens, paper, calculators, files, etc.& ,nitial cost to obtain appropriate general liability insurance policy of KI++P on our facility. 7ent $9 month rent and 9 month deposit 8 KJ2+ per month&. Nffice e-uipment lease : computer, printerRcopierRscannerRfa6 machine. .elecommunications : 1ost of B#L internet connection, phone line listed under company name in directory assistance@ purchase of phone. Accounting : )or =:; hours to get our bookkeeping processes in place $accounts payable to suppliers, lessors, etc., accounts receivable from Eedicare and patient co:pay, commission payout system, basic journal entry system for recording orders, collections, etc. #urety bond : per 5ational #upplier 1learinghouse 1ustomer #ervice Lroup, this re-uirement has been waived $verified with Pimberly on *R;R+2, and 'onnie on *R<R+2&. Earketing Eaterials : urchase desktop brochure software and brochure -uality paper, secure marketing materials from manufacturers, create a basic website, license use of any research articles, and create our own flyers and brochures for corporate account use, facility use, and use to recruit sales people. Nther : Ananticipated e6penses. #tart:up assets : Working capital@ product inventory@ office furniture $file cabinet, desk, book shelf&.
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Start-up Requirements Start-up Expenses Legal Stationery and Office Supplies Liability nsurance Rent Office Equipment Leases $elecommunications &ccounting Surety 'ond (ar)eting (aterials $ra*el Ot+er $otal Start-up Expenses Start-up &ssets -as+ Required Start-up n*entory Ot+er -urrent &ssets Long-term &ssets $otal &ssets Total Requirements $",500 $2,500 $2.5 $0 $#2,2.5 $#5,5/0 $500 $250 $!0 $"00 $#25 $%20 $#50 $0 $500 $0 $500 $%,%05
1hart! #tart:up
I.+ roducts Denergy Eedical ,ndustries sells disease therapy systems for use by homecare and assisted living residents who have been diagnosed with an ,1B:< code of G disease.
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)omecare *At +isk* Segment total S of Fomecare residents G Fomecare disease prevalence rate S of these patients in payor category G 3 with related symptoms , of at risk these patients in )omecare market G reimbursement per year )omecare +e%en(e potential
A profile of the Assisted 0i%ing market today! 9. .here are I*,;;> facilities with <;=,+++ beds. *. Average occupancy rate is ;+3, which translates to an average of =;<,+++ residents. I. Bisease prevalence is estimated at 9;3 in the general population of people over the age of >+. Nne Assisted Living survey estimated the prevalence within Assisted Living facilities at 9I3. ,n the overall population it is generally estimated that diagnosed cases of disease represent only about =+3 of the true total number of these patients in the country, so these are probably conservative numbers. J. About <93 of residents are covered private sources $family, personal assets, private insurance, managed care&@ the remaining <3 are covered under Eedicaid. 2. >+:=+3 of these patients suffer from related symptoms, which places them at higher risk for complications. >. 92:*23 of these patients will suffer from complications during their lifetime. =. ;>,+++ surgeries occur per year@ an estimated 2+3 of these are considered preventable. .he cost of managing these complications has been estimated at anywhere from K*+++: K9I,2++ per year and up to K*=,+++ overall for the two years following surgery. 'ased on these statistics, the market siMe is estimated as follows! A0 *At +isk* Segment total S of AL residents G AL disease prevalence rate S of these patients in payor category G 3 with related symptoms , of at risk these patients in A0 market G reimbursement per year A0 +e%en(e potential : =;<,+++ 9I3 9+*,2=+ >23 >>,>=9 K*>J.+J -11,2$.,213
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Market Analysis 0ear # 2otential -ustomers L$- at ris) &L at ris) Total 3ro4t+ 25 15 261.5 221,.!0 !!,!.# 2"#,1%# 22",255 !",%%/ 2"/,5"% 2%%,/10 .2,##2 %05,"52 2%/,5#. .1,""! %#%,5#% 21%,2/. ..,""! %2#,2/% 0ear 2 0ear % 0ear 1 0ear 5 -&3R 26005 16005 261.5
J.* .arget Earket #egment #trategy Leographically, we will focus on facilities located in the #outhern A.#. that fit within our two top priority segments. Nur model will be to leverage our relationships with these chains to get easier and faster access at the facility level for our field clinical sales team. .his should allow us to achieve economies in marketing, promotions, and sales costs, and should allow our field sales team to be more efficient in working only with highly -ualified facilities. .he #outhern A.#. BEC71 7egion 1 will be our geographic focus because the prevalence rates for the disease tend to be higher in the #outhern A.#. $2 of the top 9+ states, ranked in order of prevalence rates, are in the #outhern A.#.& and there tends to be a high number of chain facilities located in this region. We will begin by targeting Fomecare and A.L. chains with the majority of their facilities located in .ennessee, 5orth 1arolina, #outh 1arolina, Alabama, Leorgia, and )lorida in year one, then we will e6pand further into Oirginia, Louisiana, Eississippi, Nklahoma, and .e6as in years two and three. ,n years three and four we will e6pand across the country into other BEC71 regions to create a national presence. Nf course, our field reps will also call on non:chain accounts
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We will use these -uestions to develop four specific tactical level message matrices for our target market segments : primarily Fomecare chains at the corporate level, Assisted Living chains at the corporate level, and Fomecare and Assisted Living facilities. We will also develop a similar message matri6 for our prospective employees. .hese message matrices will be used as templatesRguidelines in developing sales and marketing pieces for these specific market segments. .hey will ensure continuity between our brand vision and the tactical marketing communication efforts we undertake on a daily basis.
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O of rocurement, O of 1linical, O of 7isk Eanagement Ways to reduce risk@ improve outcomes and -uality of life for arthritic residents at no cost to the facility and with minimal effort on their part
roducts at no cost to them that help reduce risk of complications and surgery What do we offerU in arthritic residents. rogram for care that is easy for them to adopt. Eanagement of the entire process. What are the tangible benefitsU What are the emotional benefitsU roof, research, success stories ,mproved outcomes, improved -uality of life, and reduced costs $complications& in arthritic residents. .hey create a reputation as a H1enter of C6cellenceH. .hey feel like innovators and shrewd business people. .hey have a sense of pride and satisfaction, and gain piece of mind. 7esearch articles, testimonials, manufacturer success stories.
&essage &atri: for )omecare 'acilities! Pey Becision Eaker or ,nfluencer What do they needU What do we offerU What are the tangible benefitsU What are the emotional benefitsU
BN5, Administrator, 7esident, )amily members, hysicians Lreater comfort, and prevention of disease related complications. 7educed risk of ulcers, infections, and surgeries. 7educed costs $complications& and improved outcomes and -uality of life. 1ompliance with 1orporate mandated programs. A clear, simple program of care@ an easy buying process with the assessment, ordering, and fitting of systems managed by us with no cost, hassles, or e6cessive paperwork for the facility. Lreater resident satisfaction@ improved comfort and outcomes@ reduced complications $cost& and risk of adverse complications Fappier residents and family. eace of mind. A sense of satisfaction and pride from being proactive caregivers. A sense that they provide something special that residents could not get at other facilities.
roof, research, 7esearch articles, testimonials, manufacturer success stories. success stories
&essage &atri: for Internal ;rgani<ational Team! Pey Becision Eaker or improved What do they needU
)ield based clinical sales representatives@ receptionists Lood income potential, fle6ible hours with good family vs. career balance@ freedom to be entrepreneurs@ the ability to Hmake a differenceH in improved and in providing input to shape the direction of the company@ the desire to belong to a great organiMation and get in on the ground floor.
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roof, research, 7esearch articles, testimonials, manufacturer success stories. success stories 2.I #ales #trategy Sales Strategy9 Nur sales strategy will be to call on Fomecare and Assisted Living chains doing business in the #outheast to educate them on the benefits of a .herapeutic #ystem program. We will seek to gain their support in allowing our field clinicians to visit their facilities to meet with residents that are at risk for complications of G disease. We will be uni-uely positioned to gain market share within our target segments because of our! 5ational account relationships which will open the door to pre:-ualified sales opportunities at the facility level Large:scale field clinical sales presence, which will provide comprehensive coverage of facilities across the entire #outheast, and eventually the entire country. owerful compelling marketing programs that will present a compelling cost:benefit story for chains, facilities, and residents.
We will seek to do a comprehensive assessment of all at:risk residents in a facility, then we will utiliMe different sales strategies based on their payor status, which will fit into one of the following classifications! 9. Eedicare part ' will reimburse for the product. .his is an easy sell because Eedicare part ' will reimburse for ;+3 of the cost of the product. *. rivate insurance will reimburse for the product. .his may re-uire gaining a contract with the private insurer in order to -ualify for reimbursement. I. .he resident or their family must be willing to pay for the product. .his will re-uire demonstrating to the resident andRor family members the benefits of enhanced comfort and safety, and reduced risk of complications by using our product $which can cost thousands of dollars& compared to K*>J per year for therapeutic systems $as part of an overall program of care&. J. .he facility is willing to pay for the product out of the per diem reimbursement they receive for the resident from either Eedicare, Eedicaid, private insurance, or other private sources. .his will re-uire demonstrating the value to the facility in reduced risk, enhanced resident comfort, and potential savings of costs associated with complications that can run to K*,+++:9I,2++ per year for two years. Pricing9
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;(r direct costs in year one are calc(lated (sing the following ass(mptions9 K>2 per unit cost. #hipping is estimated at 23 of total sales. Eedicare part ' billing is estimated at K<.2+ per unit, which is the HintermediateH service package from our planned part ' billing service. 1ommissions are estimated at *+3 of net sales.
;(r sales in year two are calc(lated (sing the following ass(mptions9 #even reps hired in year one following the 9* month ramp up to ma6 monthly capacity of 2+ units. Cight new reps hired follow the 9* month ramp up.
;(r direct costs in year two are calc(lated (sing the following ass(mptions9 K>= per unit cost. #hipping is estimated at 23 of total sales. Eedicare part ' billing is estimated at K9+.++ per unit, which is the HintermediateH service package from our planned part ' billing service. 1ommissions are estimated at *+3 of net sales.
;(r sales in year three are calc(lated (sing the following ass(mptions9 )ifteen reps hired in years one and two following the 9* month ramp up to ma6 monthly capacity of 2+ units. .en new reps hired follow the 9* month ramp up.
;(r direct costs in year three are calc(lated (sing the following ass(mptions9
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Sales Forecast 0ear # Sales $+erapy System Ot+er $otal Sales 7irect -ost of Sales n*entory 8sed Ot+er Subtotal Direct Cost of Sales $15/,%.1 $0 $15/,%.1 0ear # $##2,/10 $0 $##2,/10 $#,!.0,/15 $0 $#,!.0,/15 0ear 2 $151,"%0 $0 $151,"%0 $%,10/,22/ $0 $%,10/,22/ 0ear % $/%1,"00 $0 $/%1,"00 0ear 2 0ear %
2.I.* 7ecruitment and .raining +ecr(itment9 We will focus on contracting with clinicians $L 5, 75, N., ., or 7.& with two or more years of sales or customer service e6perience, who desire part:time or fle6ible work schedules and are willing to work under contract employee status. .hey will have minimum call activity re-uirements of three to five calls per week, and we anticipate that the average revenue generated per year will be appro6imately K9*+,+++ for someone working 92:*+ hours per week and meeting the minimum sales call guidelines. Nver time we will add additional products related to supporting the complications of G disease. Eitch )inkelstein has been involved in clinical salesforce management and recruiting for 92T years in this area, and Yanni Acropolis has 92T years of clinical sales e6perience in the #outheast as well. We plan to leverage our relationships in the clinical sales arena to recruit top caliber sales reps, focusing first in the #outheast. Nur goal in year one will be to fill at least seven positions by Becember 9st in the following territories! .ennessee : 1hattanooga, Pno6ville, Eemphis, 5ashville 5orth 1arolina : 1harlotte, 7aleigh, Lreensboro, #outh 1arolina : 1harleston )lorida : Eiami, .ampa, Nrlando, Vacksonville Leorgia : Atlanta
.he remaining unfilled territories will be filled early in year two, and we also begin to look at the following markets for years two and three to reach at least *2 territories by early in year three. Alabama : 'irmingham .e6as : Ballas, #an Antonio, Fouston Eississippi : Vackson, Lulfport Louisiana : 'aton 7ouge, 5ew Nrleans Nklahoma : .ulsa, Nklahoma 1ity Arkansas : Little 7ock, )ort #mith Oirginia : 7ichmond, 5orfolk
Training9 .he product is straightforward and limited in scope $initially&, and we will be hiring clinicians with e6perience in the post:acute marketplace who are generally familiar with Eedicare
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2.I.I #ales rocess Sales Process at 'acility 0e%el9 9. Wualified Eedicare residents must have an disease diagnosis. *. 7esident must have one of the following conditions! o X roprietary and 1onfidential ,nformation 7emoved.Y I. 7esident must be currently being treated under a comprehensive disease care plan by a physician. .he patients medical records must reflect the need for the care. J. .o place an order, the sales rep must submit! a. A statement of certifying physician for therapeutic systems form reviewed and signed by the E.B. or B.N. overseeing the disease treatment plan. b. A signed prescription form from the prescribing physician $E.B., or B.N.&. c. An order for the systems signed and dated by the physician. d. A completed Eedicare claim form $F1)A 92++&. 2. .o be successfully reimbursed under Eedicare part ' re-uires all the documentation above, plus demonstrated evidence of attempts to collect the *+3 co:pay, proof of delivery documentation, and an electronically filed F1)A 92++ form including the prescribing physicianQs name and A ,5 number. >. Eedicare part ' will pay ;+3 towards the allowable reimbursement on one system $F1 1# code LI2++&. .he resident pays the remaining *+3. Eedicare will reimburse for one new system every year. .he BEC71 7Cgion 1 reimbursement for this is K*>J.+J, of which K*99.I* will be billed to Eedicare and the remainder is billed to the resident. .ypical reimbursement time is estimated at I+:>+ days. =. )or rivate ay, or Eedicaid residents, we must gain a commitment either from a& the residentQs private insurer, b& the resident or their family, or c& the facility to reimburse for this product, by e6plaining the costRbenefit proposition of investing K*>J in therapeutic systems to help avoid the risk of complications or surgery which can cost K*,+++ : K9I,2++ to treat per incident over a two year period. We plan to contract with an e6perienced part ' biller who will, for a flat charge per every si6 line items on an order, handle the electronic claims submission, and the billing and collection of co:pay amounts. .his will minimiMe the time our field sales people spend chasing paperwork, and allow them to ma6imiMe their time spent building relationships, selling, and providing e6traordinary service. 2.J Eilestones =otes relating to some of the key milestones ! 9. >etermine cash needs and draw (p partnership ! o We estimate K92,2;+ will be re-uired to fund start:up and initial operations. )inkelstein, Acropolis, and Aktum plan to contribute e-ually to fund these cash needs
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Milestones (ilestone $rain receptionist on correct protocols -reate &udit9;& process for c+ec)ing for bad (edicare claims -omplete 'usiness plan Resol*e open issues for regulatory applications 7efine -ompany <ame, Logo, $ag line, 'rand 2latform 7etermine cas+ needs and dra4 up partners+ip agreement Obtain business license Sign agreement 4it+ a (edicare part ' biller ser*ice Set up a c+ec)boo) and establis+ accountant relations+ip Rent facility, get :urn9-omp9print9fax9p+one9files97SL line Sign supplier contracts 3et liability insurance Sales info pac)et territories9comp9contract9=ob descript9recruitment piece 3et in*entory and samples - create starter )its for reps -reate forms, c+ec)list order9reimb9complaint processes Submit forms to -(S Re*ie4 forms9c+ec)lists9processes 4it+ 0anni>s 4ife Sales training program - product, reimb, order process, strategy, recuit docs dentify target corporate accounts Site inspection 'egin recruiting sales team members Recei*e pro*ider number Officially ?go li*e? selling to facilities Send out first mar)eting pieces @mailerAB 4ebsite goes li*e Cire . field reps in prime mar)ets -all on targeted corporate accounts dentify future product linesB become fabulously 4ealt+y Totals Start 7ate %9#92005 %9#92005 29#592005 29#592005 29#592005 29#592005 292592005 292592005 292592005 %9#92005 %9#92005 %9#92005 %9#92005 %9.92005 %9.92005 %9.92005 %9#192005 /9%0920#0 /9%0920#0 %9.92005 %9#92005 %9.92005 59.92005 59.92005 19#92005 19#92005 /9#92005 End 7ate %9.92005 %9.92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 %9#/92005 19#92005 19#92005 19%092005 59#92005 59.92005 59/92005 59%092005 #29#92005 #29#92005 #29%#92005 'udget $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 (anager :in)elstein Steiner &)tum (ut)a &)tum :in)elstein :in)elstein :in)elstein :in)elstein :in)elstein &cropolis :in)elstein &)tum &cropolis &)tum (ut)a &)tum &)tum &cropolis Steiner :in)elstein $eam $eam &)tum :in)elstein &cropolis $eam 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment 7epartment
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>.+ Web lan #ummary Nur website will be informational and will serve as a repository for the organiMation through password:accessible pages where we will update critical company information. .he Web pages viewable by the public will be designed to be e6tremely fast and easy to use, and will enhance our brand image as, Hclinical pros with a variety of product solutions for the complications of G disease in the elderly.H ,t will feature the following content! 9. *. I. J. 2. >. =. ;. roduct information. 1ontact info for the representative who covers their area. ,nformation about comprehensive programs. 7esearch articles with the latest on disease care. Links to disease websites and to our suppliersQ websites. 1ustomer testimonials and sales success stories. ,nformation about Eedicare guidelines for the therapeutic system program. rogressively e6panded content relevant to homecare and post:acute care and the complications of disease. <. Links to other disease product companies. 9+. ossible customer Web portals to allow corporate office e6ecutives to track progress of member facilities in implementing a therapeutic system program. >.9 Website Earketing #trategy We will attempt to drive customers and sales reps to use the website as our primary source of communicating company information and any other relevant information on disease, the market, reimbursement, etc. We will e6plore using Web portals as a means to get corporate office decision makers to drive program compliance.
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Personnel Plan 0ear # D2 of (ar)eting and 3eneral (anager D2 of -orporate &ccount Sales D2 of :ield -linical Sales Office (anager $otal 2eople Total Payroll $0 $0 $0 $!,.20 1 $!,.20 0ear 2 $.5,000 $.5,000 $.5,000 $#/,.20 1 $21%,.20 0ear % $/0,000 $/0,000 $/0,000 $21,"!0 1 $2!1,"!0
;.+ )inancial lan Nur #tart:up re-uirements for cash, inventory, e6penses and assets will see us through the first year, as we hire our contracted sales representatives and secure increasing market share. Cven with our conservative estimates, based on market research and the industry knowledge of the the founders, we will far surpass the break:even point from the first month of sales. .his financial advantage is largely a result of the deferred salaries of the principals, who will take salaries starting in the second year based on the success of the business $projections below&. Nur commission structure for contracted sales representatives, along with our shipping methods, means that our variable costs always e6ceed our fi6ed costs : we have low overhead, and are investing in low:risk face:to:face sales time to generate profits. 7ent, travel for the founders, and payroll for our part:time office manager are the largest operating e6penses. With a -ualified medical biller, we should collect -uickly on reimbursements, and maintain a positive cash balance throughout. We will repay the initial loan within three years, at 9+3 interest. ,f sales go better than projected, we may pay it off sooner. We do not e6pect future rounds of investment or loans, since the business will be self:sustaining by the end of year one. 'y the end of the third year, Denergy will have a respectable net worth.
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We will seek credit terms of >+ days from our suppliers until we build up sufficient cash flow to be able to accept net I+ terms. .able! #tart:up )unding
Start-up Funding Start-up Expenses to :und Start-up &ssets to :und $otal :unding Required &ssets <on-cas+ &ssets from Start-up -as+ Requirements from Start-up &dditional -as+ Raised -as+ 'alance on Starting 7ate $otal &ssets $2,..5 $",500 $0 $",500 $#2,2.5 $%,%05 $#2,2.5 $#5,5/0
Liabilities -urrent 'orro4ing Long-term Liabilities &ccounts 2ayable @Outstanding 'illsA Ot+er -urrent Liabilities @interest-freeA $otal Liabilities -apital $5,000 $0 $0 $0 $5,000
2lanned n*estment O4ner n*estor &dditional n*estment Requirement $otal 2lanned n*estment Loss at Start-up @Start-up ExpensesA $otal -apital $#0,5/0 $0 $0 $#0,5/0 @$%,%05A $.,2.5
$#2,2.5 $#5,5/0
Page 2-
General Assumptions 0ear # 2lan (ont+ -urrent nterest Rate Long-term nterest Rate $ax Rate Other # #06005 #06005 %06005 0 0ear 2 2 #06005 #06005 %06005 0 0ear % % #06005 #06005 %06005 0
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Break-even Analysis (ont+ly Re*enue 'rea)-e*en &ssumptionsE &*erage 2ercent Dariable -ost Estimated Monthly Fixed Cost 255 $2,1". $%,%#2
Page 2.
5otes on Years two and three growth assumptions! ,ncrease stationery and office supplies $.2*3&, telecommunications $.2*3&, marketing $.>23&, legal $.*>3& and accounting $.I<3& as a consistent 3 of sales. 9+3 per year increase in rent associated with need for more services and facility related growth. *+3 per year growth in liability insurance. C-uipment lease e6pense doubles each year associated with rapid sales growth and e6pansion. 9+3 per year growth in miscellaneous e6penses. .ravel grows to K92,+++ in year two and K*2,+++ in year three for increased recruitment, management, and corporate account sales calls.
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Pro Forma Profit and Loss 0ear # Sales 7irect -ost of Sales S+ipping9Candling (edicare 2art ' 'illing 8ncollectible &ccounts Reser*e Sales -ommission $otal -ost of Sales 3ross (argin 3ross (argin 5 $15/,%.1 $##2,/10 $22,"#" $#!,01% $"#,!.5 $.%,%10 $%#!,/#! $#1#,55/ %06//5 0ear 2 $#,!.0,/15 $151,"%0 $/%,512 $!!,/%1 $%%1,#!" $2!.,%%5 $#,20!,/#0 $1!1,0%5 2.6..5 0ear % $%,10/,22/ $/%1,"00 $#.0,1## $#%!,%2" $!/#,!1! $515,%#! $2,%!/,!0% $#,0%",!25 %06505
Expenses 2ayroll (ar)eting92romotion 7epreciation Rent $elecommunications 3eneral Liability nsurance Legal Expenses &ccounting Expenses Stationery and Office Supplies $ra*el Office Equipment 2ayroll $axes Ot+er $otal Operating Expenses 2rofit 'efore nterest and $axes E' $7& nterest Expense $axes ncurred <et 2rofit et Profit!Sales $!,.20 $%,000 $0 $5,100 $2,100 $%!0 $#,200 $#,/00 $2,100 $5,000 $1/0 $0 $#,200 $2","!0 $###,5"/ $###,5"/ $1#/ $%%,%51 $..,/2! #!6"/5 $21%,.20 $#0,/!0 $0 $5,"10 $/,!// $1%2 $1,%11 $!,5#! $/,!// $#5,000 $"!0 $0 $#,%20 $%0!,1!/ $#5.,5!. $#5.,5!. $",!5% $11,%.1 $#0%,510 !6205 $2!1,"!0 $22,#5% $0 $!,5%1 $#.,.2% $5#/ $/,/!# $#%,2"2 $#.,.2% $25,000 $#,"20 $0 $#,152 $%/0,#%! $!5",1/" $!5",1/" $#.,!/5 $#"2,51# $11",2!% #%6#/5
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-as+ from Operations -as+ Sales -as+ from Recei*ables Subtotal -as+ from Operations &dditional -as+ Recei*ed Sales $ax, D&$, CS$93S$ Recei*ed <e4 -urrent 'orro4ing <e4 Ot+er Liabilities @interest-freeA <e4 Long-term Liabilities Sales of Ot+er -urrent &ssets Sales of Long-term &ssets <e4 n*estment Recei*ed Subtotal -as+ Recei*ed Expenditures Expenditures from Operations -as+ Spending 'ill 2ayments Subtotal Spent on Operations &dditional -as+ Spent Sales $ax, D&$, CS$93S$ 2aid Out 2rincipal Repayment of -urrent 'orro4ing Ot+er Liabilities 2rincipal Repayment Long-term Liabilities 2rincipal Repayment 2urc+ase Ot+er -urrent &ssets 2urc+ase Long-term &ssets 7i*idends Subtotal -as+ Spent <et -as+ :lo4 Cash "alance $0 $#,!50 $0 $0 $0 $0 $0 $%%5,"1! $#%,5%# $2%,0%# $0 $#,!50 $0 $#2,000 $0 $0 $0 $#,5"0,1#1 @$.,!#"A $#5,1#2 $0 $#,.00 $0 $21,000 $0 $0 $0 $2,"%.,/01 $5.,!.0 $.%,0/2 $!,.20 $%2.,5.! $%%1,2"! $21%,.20 $#,%%%,011 $#,5.!,.!1 $2!1,"!0 $2,!1.,#11 $2,"#2,#01 $0 $0 $0 $0 $0 $0 $0 $%1",1.. 0ear # $0 $0 $0 $200,000 $0 $0 $0 $#,5/2,."! 0ear 2 $0 $0 $0 $0 $0 $0 $0 $2,""5,1.1 0ear % $22,"#" $%2!,55/ $%1",1.. $/%,512 $#,2"",25% $#,%/2,."! $#.0,1## $2,/25,0!% $2,""5,1.1
Page
;.> rojected 'alance #heet .he 'alance #heet reflects the fact that many of our Assets will be tied up in Accounts 7eceivable@ billing correctly and promptly, and following up on unpaid reimbursement claims, will be critical to the 1ash balance. .he #tarting 'alances are the re-uirements from the #tart: up table and the #tart:up )unding. 'y the end of the first year, we will increase the net worth of the business handsomely. 5et Worth will continue to rise dramatically as we secure a higher market share and continue to contain costs. .able! 'alance #heet
-urrent &ssets -as+ &ccounts Recei*able n*entory Ot+er -urrent &ssets $otal -urrent &ssets Long-term &ssets Long-term &ssets &ccumulated 7epreciation $otal Long-term &ssets $otal &ssets Liabilities and -apital -urrent Liabilities &ccounts 2ayable $!%,11. $##%,!"5 $22!,/.! $0 $0 $0 $#5#,/"/ 0ear # $0 $0 $0 $1"2,0%! 0ear 2 $0 $0 $0 $#,02/,./0 0ear % $2%,0%# $#0/,/". $#",!"5 $2.5 $#5#,/"/ $#5,1#2 $%"!,"1! $.",10% $2.5 $1"2,0%! $.%,0/2 $/0",.00 $#15,.2% $2.5 $#,02/,./0
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;.= 'usiness 7atios Nur comparison industry is Eedical C-uipment and #upplies, #,1 1ode 2+J=.+I. 'ecause we are a start:up, our sales growth rates will be much higher than the industry, especially given that we are competing in a small niche with fragmented competition. We have constructed our operation to keep start:up capital re-uirements to a minimum, building much of our e6pense into our variable cost structure $sales compensation, reimbursementRcollections,& or farming it out $legal, accounting&. 'ecause we do not have a retail storefront or e6tensive distribution facilities, our fi6ed overhead costs are e6tremely low. 5one of our three managing e6ecutives are on the payroll in the first year, and our sales team will be contract reps on straight commission. We have farmed out all legal, accounting, and reimbursementRcollections to outside services to keep overhead and risk to a minimum. As a result, we will have e6tremely favorable margins, #LZA, and currentR-uick ratios compared to industry standards.
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,%%en*ix
.able! #ales )orecast
Sales Forecast Month 1 Sales Therapy System Other Total Sales 0% 0% $0 $0 $0 $5,281 $0 $5,281 $10,562 $0 $10,562 $15,842 $0 $15,842 $23,236 $0 $23,236 $31,685 $0 $31,685 $41,190 $0 $41,190 $51,752 $0 $51,752 $58,353 $0 $58,353 $66,274 $0 $66,274 $74,195 $0 $74,195 $80,004 $0 $80,004 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
D re!t "ost o# Sales $n%entory &se' Other Subtotal Direct Cost of Sales
Month 1 $0 $0 $0
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,%%en*ix
.able! ersonnel
Personnel Plan Month 1 () o# Mar*et n+ an' ,eneral Mana+er () o# "orporate -!!o.nt Sales () o# / el' "l n !al Sales O## !e Mana+er Total )eople 0% 0% 0% 0% $0 $0 $0 $0 3 Month 2 $0 $0 $0 $0 3 Month 3 $0 $0 $0 $0 3 Month 4 $0 $0 $0 $0 3 Month 5 $0 $0 $0 $0 3 Month 6 $0 $0 $0 $960 4 Month 7 $0 $0 $0 $960 4 Month 8 $0 $0 $0 $960 4 Month 9 $0 $0 $0 $960 4 Month 10 $0 $0 $0 $960 4 Month 11 $0 $0 $0 $960 4 Month 12 $0 $0 $0 $960 4
Total Payroll
$0
$0
$0
$0
$0
$960
$960
$960
$960
$960
$960
$960
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.able! rofit and Loss
Pro Forma Profit and Loss Month 1 Sales D re!t "ost o# Sales Sh pp n+01an'l n+ Me' !are )art 2 2 ll n+ &n!olle!t 3le -!!o.nts 4eser%e Sales "omm ss on Total "ost o# Sales 5% 4% 20% 16% $0 $0 $0 $0 $0 $0 $0 Month 2 $5,281 $1,300 $264 $185 $1,056 $845 $3,650 Month 3 $10,562 $2,600 $528 $370 $2,112 $1,690 $7,300 Month 4 $15,842 $3,900 $792 $554 $3,168 $2,535 $10,950 Month 5 $23,236 $5,720 $1,162 $813 $4,647 $3,718 $16,060 Month 6 $31,685 $7,800 $1,584 $1,109 $6,337 $5,070 $21,900 Month 7 $41,190 $10,140 $2,060 $1,442 $8,238 $6,590 $28,470 Month 8 $51,752 $12,740 $2,588 $1,811 $10,350 $8,280 $35,770 Month 9 $58,353 $14,365 $2,918 $2,042 $11,671 $9,336 $40,332 Month 10 $66,274 $16,315 $3,314 $2,320 $13,255 $10,604 $45,807 Month 11 $74,195 $18,265 $3,710 $2,597 $14,839 $11,871 $51,282 Month 12 $80,004 $19,695 $4,000 $2,800 $16,001 $12,801 $55,297
$0 0500%
$1,631 30588%
$3,262 30588%
$4,892 30588%
$7,176 30588%
$9,785 30588%
$12,720 30588%
$15,982 30588%
$18,021 30588%
$20,467 30588%
$22,913 30588%
$24,707 30588%
67penses )ayroll Mar*et n+0)romot on Depre! at on 4ent Tele!omm.n !at ons ,eneral 8 a3 l ty $ns.ran!e 8e+al 67penses -!!o.nt n+ 67penses Stat onery an' O## !e S.ppl es Tra%el O## !e 69. pment )ayroll Ta7es Other 15% $0 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $0 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $0 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $0 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $0 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $0 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $1,000 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $1,000 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $1,000 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $1,000 $40 $0 $100 $960 $250 $0 $450 $200 $30 $100 $150 $200 $1,000 $40 $0 $100
$1,520
$1,520
$1,520
$1,520
$1,520
$2,480
$2,480
$3,480
$3,480
$3,480
$3,480
$3,480
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Ta7es $n!.rre' :$469; $21 $511 $1,000 $1,686 $2,181 $3,062 $3,741 $4,353 $5,087 $5,821 $6,360
:$1,093; 0500%
$49 0593%
$1,192 11528%
$2,334 14573%
$3,934 16593%
$5,089 16506%
$7,144 17534%
$8,729 16587%
$10,156 17541%
$11,870 17591%
$13,583 18531%
$14,840 18555%
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.able! 1ash )low
Pro Forma Cash Flow Month 1 "ash 4e!e %e' Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
"ash #rom Operat ons "ash Sales "ash #rom 4e!e %a3les S.3total "ash #rom Operat ons $0 $0 $0 $264 $0 $264 $528 $2,676 $3,204 $792 $7,693 $8,485 $1,162 $12,709 $13,871 $1,584 $18,796 $20,380 $2,060 $26,355 $28,415 $2,588 $34,917 $37,504 $2,918 $44,482 $47,400 $3,314 $52,509 $55,823 $3,710 $59,449 $63,158 $4,000 $66,974 $70,974
-'' t onal "ash 4e!e %e' Sales Ta7, (-T, 1ST0,ST 4e!e %e' <e= ".rrent 2orro= n+ <e= Other 8 a3 l t es : nterest>#ree; <e= 8on+>term 8 a3 l t es Sales o# Other ".rrent -ssets Sales o# 8on+>term -ssets <e= $n%estment 4e!e %e' S.3total "ash 4e!e %e' 0500% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $264 $0 $0 $0 $0 $0 $0 $0 $3,204 $0 $0 $0 $0 $0 $0 $0 $8,485 $0 $0 $0 $0 $0 $0 $0 $13,871 $0 $0 $0 $0 $0 $0 $0 $20,380 $0 $0 $0 $0 $0 $0 $0 $28,415 $0 $0 $0 $0 $0 $0 $0 $37,504 $0 $0 $0 $0 $0 $0 $0 $47,400 $0 $0 $0 $0 $0 $0 $0 $55,823 $0 $0 $0 $0 $0 $0 $0 $63,158 $0 $0 $0 $0 $0 $0 $0 $70,974
67pen' t.res
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
67pen' t.res #rom Operat ons "ash Spen' n+ 2 ll )ayments S.3total Spent on Operat ons $0 $36 $36 $0 $1,221 $1,221 $0 $5,093 $5,093 $0 $9,938 $9,938 $0 $15,018 $15,018 $960 $21,342 $22,302 $960 $27,973 $28,933 $960 $35,734 $36,694 $960 $44,803 $45,763 $960 $49,079 $50,039 $960 $55,601 $56,561 $960 $61,737 $62,697
-'' t onal "ash Spent Sales Ta7, (-T, 1ST0,ST )a ' O.t )r n! pal 4epayment o# ".rrent 2orro= n+ Other 8 a3 l t es )r n! pal 4epayment 8on+>term 8 a3 l t es )r n! pal 4epayment ).r!hase Other ".rrent -ssets ).r!hase 8on+>term -ssets $0 $0 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0 $0 $150 $0 $0 $0 $0
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D % 'en's S.3total "ash Spent $0 $36 $0 $1,371 $0 $5,243 $0 $10,088 $0 $15,168 $0 $22,452 $0 $29,083 $0 $36,844 $0 $45,913 $0 $50,189 $0 $56,711 $0 $62,847
:$36; $9,464
:$1,107; $8,356
:$2,039; $6,317
:$1,603; $4,714
:$1,298; $3,417
:$2,072; $1,345
:$669; $676
$661 $1,337
$1,486 $2,823
$5,633 $8,456
$6,447 $14,904
$8,127 $23,031
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.able! 'alance #heet
Pro Forma Balance Sheet Month 1 -ssets Start n+ 2alan!es Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
".rrent -ssets "ash -!!o.nts 4e!e %a3le $n%entory Other ".rrent -ssets Total ".rrent -ssets 8on+>term -ssets 8on+>term -ssets -!!.m.late' Depre! at on Total 8on+>term -ssets Total -ssets 8 a3 l t es an' "ap tal $0 $0 $0 $12,275 $0 $0 $0 $12,239 Month 1 $0 $0 $0 $15,848 Month 2 $0 $0 $0 $21,568 Month 3 $0 $0 $0 $28,622 Month 4 $0 $0 $0 $38,509 Month 5 $0 $0 $0 $49,822 Month 6 $0 $0 $0 $64,269 Month 7 $0 $0 $0 $81,777 Month 8 $0 $0 $0 $95,842 Month 9 $0 $0 $0 $113,877 Month 10 $0 $0 $0 $133,310 Month 11 $0 $0 $0 $151,898 Month 12 $9,500 $0 $2,500 $275 $12,275 $9,464 $0 $2,500 $275 $12,239 $8,356 $5,017 $2,200 $275 $15,848 $6,317 $12,375 $2,600 $275 $21,568 $4,714 $19,732 $3,900 $275 $28,622 $3,417 $29,097 $5,720 $275 $38,509 $1,345 $40,402 $7,800 $275 $49,822 $676 $53,178 $10,140 $275 $64,269 $1,337 $67,425 $12,740 $275 $81,777 $2,823 $78,379 $14,365 $275 $95,842 $8,456 $88,830 $16,315 $275 $113,877 $14,904 $99,867 $18,265 $275 $133,310 $23,031 $108,897 $19,695 $275 $151,898
".rrent 8 a3 l t es -!!o.nts )aya3le ".rrent 2orro= n+ Other ".rrent 8 a3 l t es S.3total ".rrent 8 a3 l t es 8on+>term 8 a3 l t es Total 8 a3 l t es )a '> n "ap tal 4eta ne' 6arn n+s 6arn n+s Total "ap tal Total 8 a3 l t es an' "ap tal Net Worth $0 $5,000 $0 $5,000 $0 $5,000 $10,580 :$3,305; $0 $7,275 $12,275 $7,275 $1,057 $5,000 $0 $6,057 $0 $6,057 $10,580 :$3,305; :$1,093; $6,182 $12,239 $6,182 $4,767 $4,850 $0 $9,617 $0 $9,617 $10,580 :$3,305; :$1,044; $6,231 $15,848 $6,231 $9,444 $4,700 $0 $14,144 $0 $14,144 $10,580 :$3,305; $148 $7,423 $21,568 $7,423 $14,314 $4,550 $0 $18,864 $0 $18,864 $10,580 :$3,305; $2,482 $9,757 $28,622 $9,757 $20,418 $4,400 $0 $24,818 $0 $24,818 $10,580 :$3,305; $6,416 $13,691 $38,509 $13,691 $26,792 $4,250 $0 $31,042 $0 $31,042 $10,580 :$3,305; $11,505 $18,780 $49,822 $18,780 $34,245 $4,100 $0 $38,345 $0 $38,345 $10,580 :$3,305; $18,649 $25,924 $64,269 $25,924 $43,175 $3,950 $0 $47,125 $0 $47,125 $10,580 :$3,305; $27,378 $34,653 $81,777 $34,653 $47,233 $3,800 $0 $51,033 $0 $51,033 $10,580 :$3,305; $37,534 $44,809 $95,842 $44,809 $53,548 $3,650 $0 $57,198 $0 $57,198 $10,580 :$3,305; $49,404 $56,679 $113,877 $56,679 $59,549 $3,500 $0 $63,049 $0 $63,049 $10,580 :$3,305; $62,987 $70,262 $133,310 $70,262 $63,447 $3,350 $0 $66,797 $0 $66,797 $10,580 :$3,305; $77,826 $85,101 $151,898 $85,101
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