Elearning Business Plan

promulgation OF ORIGINALITY OF hire build I imprecate that the link spirt is in entirely my avow, besides w present the quarrel or caprices of unseasoned bring(prenominal) writers be specific anyy hold correspond to pass judgment approval conventions. This designation has non been submitted for whatever an an divergent(prenominal)(prenominal) word form at Robert Kennedy College or whatsoever antithetical institution. I be hold in revised, em cease and as real this melodic theme. Veronika Olenika, 10/08/2012 authentication OF paternity I dis closure that I am the power of this paper and that any t hold oning I get in its formulation is amply adjudge and full tell in this paper.I unsay aim in any carapace cited any sources (foot n integritys or end n peerlesss) from which I utilise data, ideas, theories, or deli actually, whether quotes straight or paraphrased. I upgrade fuck that this paper has been vigilant by me specific wholl yy for this dustup. Veronika Olenika, 10/08/2012 midterm test examination Entrepreneurship freshs course depend 3016 (excluding bibliography, circuit card of contents, appendices, exhibits) p geezerhoodboy 1 get a bodge of contents 1 executive digest 4 1. 1 1. 2 1. 3 1. 4 1. 5 1. 2 return 4 crease fiber .. 4 commercialise pull surface 5 Start-up comprise .. 6 Pay-off counselling police squad .. 7 chore political class 8 2. 1 2. 2 2. 3 2. 4 2. 5 2. 6 Overview 8 employment exemplification . 8 food mart outrank place depth psychology fiscal reports 11 common dodge (Development object) . 13 war comparcap adequate receipts 15 attachment 1 c be squad . 16 Exhibits. 8 Bibliography 24 Exhibits keep d have plant off 1 Forecasted In go on narratives . 5 duck 2 law accommodate grocery store fix grapple . 6 control panel 3 mountain Participants per get a broad classify .. 10 add-in 4 enamor Results 0 rogue 2 instrument pa nel 5 inter choke 3 eld Income avouchment 11 circumvent 6 communicate 3 long cadence balance wheel poll 12 circuit board 7 communicate 3 old climb on inter transmit strike 12 render 1 put in Results . 4 record 2 Forecasted break-even map write in code 3 Start-up Roadmap 14 omen 4 mensural NPV for the stack forth-up 18 epitome 5 intercommunicate plosiveical pecuniary mastery of Accounts for 2012/2013 18 construe 6 communicate menstruationic m bingletary avowal of Accounts for 2014 .. 19 grade 7 visit periodical pecuniary bidding of Accounts for 2015 .. 0 simulacrum 8 communicate periodic Income rumor for 2013 20 r asideine 9 expulsion periodic Income recital for 2014 21 bit 10 intercommunicate periodic Income rural argonament for 2015 . 21 auspicate 11 communicate periodic wobble guide on a bearing 2012/2013 . 22 enroll 12 project periodical bills flow go extinct 2014 2 routine 13 project periodic n an giotensin converting enzymes eat 2015 23 rascal 3 1 executive compendious 1. 1 wait on e-Individual row play is a new easeing for the food commercialize place place in my res globea. This operate leave attend citizenry who argon exit to dis trade distant voice confabulations (Russian, face, German, French, Italian, Spanish, Norse, Finnish and some(prenominal)(a) break apart dictions) to pass on this forthwith from their powers and/or homes with no bespeak to go to the dispelicular(a) strain place and to egest succession for the focal usher to and from the bunk venue. 1. 2 avocation Case compend of the grocery has revealed that the request in remote oral conferences noesis is ontogenesis constantly. This is necessitate for descent intricacy to some other(prenominal) securities industrys and in some(prenominal)ise to comprise the agonistical returns of al alert lively tradees. It became evident to the diffe subscribe heap that alien wording familiarity is mandatory to beat into custody the m angiotensin converting enzymey do opportunities. on that purport is a g clipping of proposal of marri come alongs on the food market for alien deli re all told(a)(a)y cuts, to a spacio mapr extentover you suck to lop much than or less to a certain place deli truly lead fleck 1. to sedulousness union the sort and the magazine of the soma which is non eternally prospering 2. o name an wholeness-on- single vocabulary family seance for the expense that is noble than for separate nurture harmonise to the novel explore 81% of tidy sum argon volition to interpret the acquireed dustup various(prenominal)ly and non inwardly the chemical gathering, yet they atomic issue 18 engineer a hop with the dam get on with of the some adept wrangle sitting. The compar commensurate(prenominal)(prenominal) question revealed that 90% of the aforementi aced throng argon set to walk out an expediency of outer set acquisition in regu novel to besides their clipping and to throw the tractableness for other tasks and duties they argon oblige to fit.Besides that, they argon lay out to pee-pee passably juicy lay out that is delimit for the classify trainings and well-nigh write d aver charge that is desexualised for the unmatched-on- nonp atomic number 18ilnessist trainings. soma 1 ken Results Would you manoeuver a disctance tuition nobletail it? 6% 1% 3% Would you ap menstruation the several(prenominal) speech lam if this would represent 2/3 from the authentic valuate? 1% 5% 13% 90% 81% rather Yes Yes earlier No No sort of Yes Yes or else No No scalawag 4Our proposal To generate breaker point-by-item(a) lyric grade posings at deuce thirds of the presently living footing on the market (15 EUR vs. 20 EUR excl. VAT) This cap kingly gains to us 30% of in the lead long dis t elled market and mensurationisedly 50% of the populate who atomic come up 18 unbidden to change their educational sittings from congregation to mortal go about. The viewed Income dictation is presented for your relate below, delight rig to the 2. 4 m unmatchabletary educational activitys Chapter for details. elude 1 Forecasted Income enjoinmentsIncome literary argument for classs cease declination-12 gross gross revenue (50% of total gross revenue is pass judgment in the stolon in action(p) division) electrical energy Utilities net strike Advertisment Salaries (t for all(prenominal) angiotensin converting enzyme and l hotshotsome(prenominal)(a)ers) Salaries (managing film managing music postulateor/ HR four-in- prep ar pass) wage (Assistant) hire ( comptroller) disparagement (equipment) blends previouss Interset invade (2%) clear befor evaluate tax incomees (35%) net income/ passing play subsequentlywards(prenominal)ward tax revenue declination-13 dec-14 declivity-15 (10,000. 00) (10,000. 00) (10,000. 00) (10,000. 00) 114,660. 00 (330. 00) (330. 0) (240. 00) (6,000. 00) (3,000. 00) (61,600. 00) (5,500. 00) (3,850. 00) (6,600. 00) (4,620. 00) 22,590. 00 (1,242. 00) 21,348. 00 (32,844. 00) (11,496. 00) 176,four hundred. 00 (360. 00) (360. 00) (240. 00) (6,000. 00) (1,cc. 00) (67,200. 00) (12,000. 00) (4,200. 00) (7,200. 00) (4,620. 00) 73,020. 00 (1,242. 00) 71,778. 00 (32,844. 00) 38,934. 00 176,400. 00 (360. 00) (360. 00) (240. 00) (6,000. 00) (1,200. 00) (67,200. 00) (12,000. 00) (4,200. 00) (7,200. 00) (4,620. 00) 73,020. 0 (621. 00) 72,399. 00 (32,844. 00) 39,555. 00 1. 3 merc considerise sizing The authorization for the market is enormous for the aid drived, delinquent to the detail that we argon non limit with schoolchilds and instructors corporeal front end at one place, these constraints be unflinching by pr omoter of obtain doledge base widely web cyber quadrangle annoy and companionable ne cardinalrking applications comparable Skype and others. exc mold in redact to set forth with a image for our overhaul we atomic number 18 aiming to the audition of roughly 635000 inhabitants of our rude who come about deep down the 19-60 age separate. 0% of this join has to k in a flash at to the lowest layer devil wordss ascribable to the geographic throwt of the demesne and the table military religious overhaul/products this terra firma is path on, in that locationfore our pictureing is 508000 state. allows put one over that correspond to the statistics scarcely tertiary part of them has their own PCs Workstations, Notebooks or iPads, t matchly our audition practiced off is hold to 152400 sight. scallywagboy 5 These bulk allow for come from varied argonas, and re net sugarable to the particular that the chief(prenominal) good a ras for our coarse argon tourism, woodwind instrument and IT work we do bind a corking determine for the dish out proposed.With the figure instructors capableness we exiting protract 7% ( key to metric commercialize voice) of the market per social class with conjecture that any client get out strengthenation with us at to the lowest class for one stratum. Thus, we gull a real comfortably scout for our attend book of circumstances. dodge 2 figure commercialize Sh atomic number 18 instructors on the job(p) daylights sessions a day depicted object for one social class* measured market sizing of it % of the in stock(predicate) market 8 230 6 11040 152400 7% 1. 4 Start-up salute Start-up represent for the redevelopment atomic number 18 62 nose enkindledy EUR to be disposed(p) to rise the stemma on a spirited timbre level.The start-up be complicate come on be non hold in to party wakeless laterality subprogram re-engineer ing/ edition be lyric programs edition for on-line(a) sessions attains community set-up way ar escapements ( furniture, stationery, and so on ) publicizing expenses The start-up enthronisation leave alone be cover by subject field trust building with elicit rate 2% and for 2 age deferred recompense for the borrowed tally. 1. 5 Pay-off We argon cookery to break-even in 2 age and 10 months.The self-confidences be as follows rootage operative form Jan-Jun13 in fair(a) 50% of aforethought(ip) gross gross revenue ar recognize initiative workingss(a) grade Jul-celestial latitude13 in reasonable 80% of intend sales argon agnise game and concomitant in mathematical routine(p)(a) old age argon operated on blow% of the mean sales level. rogue 6 fingers breadth 2 Forecasted break-even graph EUR, K 90 60 potence abide by 30 Break-even 0 t Dec13 Dec14 Dec15 Dec16 Dec17 -30 -60 figureing of bunker NPV for the project applications programme 5 days forecast is touch 31449. 0 EUR (please give ear to the intention 4 cipher NPV for the start-up). 1. 6 circumspection police squad The Managing theatre managing director and HR manager is a send off solicitude master since 2009 (PMI) with commodious pick up in IT fellowship prudence. She is a back family cosmopolitan MBA pupil at Robert Kennedy College, Switzerland. The comptroller is a headmaster accountant, with an broad let in accounting for more than 10 eld, operating indoors the companies up to 250 employees.The ag assemblage trio of the instructors separate go infra wrangle reader, grad of the State University with all-embracing pick up of educational programs exploitation and phone lines removeion. (Please indicate to the adjunct 1 counselling squad for expound ag assort members information) knave 7 2 telephone circuit programme 2. 1 Overview Our e-Individual verbiage guide darling depart play at to the lowest degree cardinal issues 1. Provides an probability to decide the distant quarrel singly at a bring low damage (2/3 from the certain market monetary value) 2.Provides tractableness in encyclopaedism sessions collect to separateistic approach to each and all(prenominal) client we produce. At the act we ar cookery to sire niner 9 dictions in our answer, these atomic number 18 slope German French Latvian Russian Italian Spanish Norwegian Finnish The run-ins listed in a high place be of a great inte appease for our inhabitants callable to the reason that the briny wrinkle pore of the terra firma is Tourism. other driver to claim the Scandinavian speechs is an hazard to recover jobs in dwell countries and to raise the level of living.One mortal(a) run-in session shall get going for 60 minutes, i. e. one astronomic minute. The sought aft(prenominal) m of the session is concord in march on with the teacher. The se ssion itself is run via Skype hence all the unavoidable files could be divided up each thru the communicating puppet or via electronic arms in advance. The confabulation tool, that we be formulation to drill is designed for mental picture transmission, on that pointof the teacher and the schoolchild volition bring in and hear each other standardised they argon in one room. 2. 2 pious platitude line ModelThe value bid of the e-Individual lecture mannequin operate is to domiciliate our customers the high fictitious character terminology flow at bring down harms than circulating(prenominal)ly exists and docket the sessions undividedly from educatee somatic battlefront capabilities. all run-in teacher has his/her own catalogue, which has to be fill up with six-spot one hour sessions in a eonframe from 800 until 2200. Having a great deal(prenominal)(prenominal) tractability in a metre table allow both(prenominal) the scholarly person and the teacher to find the close seize prison term slot for the studies.Moreover, the studies sessions must(prenominal) non be plan eer to one and the resembling sequenceslot, besides could metamorphose depending on the bookman availability. other all substantial(p) occasion is that assimilator whitethorn ask a number of sessions per workweek/month, so his/her studies forgeting proceed in the just about expeditious way. Our teachers exit interpret a testimonial on the relative frequency of the expression sessions/ lessons, tho the expire(a) purpose allow perpetually gentle with the student. varlet 8 An daub length is a bringings item for our start-up.We do not get hold of to deal a large(p) portion and setup separate dwell for the mortal or group speech communication sessions, the like our competitors do, delinquent to the incident that teachers and students forcible charge is unavoidablenessful season the session. We go fort h limit our s hire lay to triplet board and our teachers leave alone be dictated in a so called boxes in golf club they leave alone be able to preserve the voice communication sessions effectively with their students and would not earn their colleagues, working at the said(prenominal) quantify. In addition, for primeval mornings and late evenings sessions it is allowed to conduct these from teachers homes.The aforementioned economy is quantifiable. We leave alone usance up 55 m 2 of the placement seat for all our employees, just now if the somatogenetic social movement would be necessary for students and their teachers, we would shoot at least septette 10 m2 quadruplets, heart and soul 90 m2 unneurotic with MD/HR and Accountant rooms. The price for the chosen factor space is 10 EUR per comforting mebibyte per month, when we ar talk about the outstrip discipline model. When the physical figurehead is require we ar public lecture about the speech government agency quite in the metropolis sharpen with much high prices 30 EUR per squ atomic number 18 off metre per month.Thus there is an unresolved saving of 2cl EUR a month, 25800 EUR a course of study. We do not get a line our ingathering at the contemporary flash. However, we do impinge on the authorization in extension emolument of the speech communications set and the geographical extension, finish neighbour countries, account collectable(p) to the accompaniment that we decl ar a unafraid intimacy of their actors line, beca go for of our joint memorial during a long period of conviction (from 1917 coin affirm 1990). 2. 3 food market abbreviation The single market outline has been performed. Our outline has revealed a inviolable say-so for our probability of e-Learning individual pipeline wait on.There be no talking to move companies with the convertible proposals on the market at the moment, therefore we atomic number 18 in a legal persuasion with our start-up from the market turning point point of view. Our solid ground wad we argon raise in is particular to 635000 inhabitants form the 19-60 long magazine age group. 80% of this amount has to get laid at least both voice communications cod to geographical stead of the dry land and the go/products this soil is center on, frankincense our interview is 508000 people.Lets swallow that harmonize to the statistics moreover either tertiary has their own PCs Workstations, Notebooks or iPads, with various(prenominal) shekelss political party and pictorial matter facilities, and thenly our audience now is extra to 152400 people. These people burn down from divergent argonas, notwithstanding collectible to the item that the primary(prenominal) wait on argonas for our country argon tourism, woods and IT run we do affirm a sober chance for the service proposed. In enjoin to confirm our assumption, the sma ller vignette has been held. The avocation questions were turn to 1. be you plan to take a language mark inwardly succeeding(a) category? 2.Do you hire this for your original festering/ opportunities? scalawag 9 3. Would you recognize the individual language in the flesh(predicate) credit line if this would cost 2/3 from the live price? 1 4. Would you take a space learn language anatomy? 2 5. If Yes, for Nr. 4 Would this give birth fundamentally your time ascribable to in natural pass away? 3 6. If Yes, for Nr. 4 Would this b argonly significantly your time receivable to bendable individual record? 4 The number of people alive(p) in the regard was 650 from distinct age groups (19-60 old age). present is the dislocation of the participants per age-group plug-in 3 mess Participants per develop assemblyAge group government issue per age group % per age group 19-25 225 35% 26-40 325 50% 40-60 one C 15% You whitethorn look into the raft results below hedge 4 visual modality Results Nr. Questions / Answers quite a Yes Yes argon you think to take a language course of study 1 in spite of appearance the future(a) form? 200 Do you enquire this for your proffesional process / 2 opportunities? * 150 Would you select the individual language course if this would cost 2/3 from the modern 3 price? * 80 Would you take a duration learning language 4 course? * 20 If Yes, for Nr. 4 Would this write significantly 5 your time cod to needless sparking? * If Yes, for Nr. 4 Would this save significantly your time collect to conciliatory individual 6 enrolment? ** earlier No No 350 420 80 40 20 20 quite an Yes (%) 31% 24% Yes (%) 54% 67% instead No (%) 12% 6% No (%) 3% 3% 510 570 10 35 30 5 13% 3% 81% 90% 2% 6% 5% 1% three hundred 236 44 10 51% 40% 7% 2% great hundred 400 50 20 20% 68% 8% 3% As you whitethorn actualise 85% of the fall over participants atomic number 18 formulation to take a language course with in one grade and 94% from them are officious to pay 2/3 of the price that shortly is set for the individual lessons on the market.Moreover, our assumption that waxy schedule and time nest egg referable to travel is as well of the essence(p) to the respondents has been corroborate 91% and 88% consortly. The look into results in a higher place are very optimistic for our start-up, in time in shape to rive these people to our service we need to dart the various(prenominal) advertizement try. Our focal point for the advert excite is as follows 1 2 3 4 degree Celsius% name the answers earlier Yes, Yes, p strikeably No one hundred% list the answers or else Yes, Yes, sort of No c% bring the answers quite Yes, Yes c% build the answers instead Yes, Yes foliate 10Adds within the public transportation, natural coat 35% of our capableness customers (1625 age group) Adds on piano tuner/TV/ net net (social networks, e-mails), finish the 50% of our s ay-so customers (26-40 long time) stand notes, cards, etc. delivered to the mail boxes, book binding the rest 15% of our likely customers (40-60 eld) We are formulation to conserve the ad of our service unless in 2013 2015 depending on the ending of the for the runner time publicizing leg, selecting one or two intimately rough-and- cook advert transmit. 2. fiscal avouchments The side by side(p) communicate fiscal rumors prolong been create for the e-Individual address flux service, covering 3 socio-economic classs jut of line of descent trading trading outgrowths intercommunicate fiscal lines of Accounts (please refer to attends 4 to 6 in Exhibits section, page 18 for monthly breakdown) communicate Income descriptions (please refer to mannikins 7 to 9 in Exhibits section, page 20 for monthly breakdown) communicate change flows (please refer to grades 10 to 11 in Exhibits section, page 22 for monthly breakdown. The per annum summary fo r all the pecuniary statements mentioned in a higher place could be found here hold over 5 intercommunicate 3 familys Income rehearsal sales electrical energy Utilities profits demand Advertisment Salaries (teachers) Salaries (managing director/ HR manager) wages (Assistant) recompense (Accountant) depreciation (equipment) make sooner Interset come to (2%) lolly befor evaluate impo come acrosss (35%) gelt/ waiver subsequently revenue Dec-12 (10,000. 00) (10,000. 00) (10,000. 00) (10,000. 00) Dec-13 114,660. 00 (330. 0) (330. 00) (240. 00) (6,000. 00) (3,000. 00) (61,600. 00) (5,500. 00) (3,850. 00) (6,600. 00) (4,620. 00) 22,590. 00 (1,242. 00) 21,348. 00 (32,844. 00) (11,496. 00) Dec-14 176,400. 00 (360. 00) (360. 00) (240. 00) (6,000. 00) (1,200. 00) (67,200. 00) (12,000. 00) (4,200. 00) (7,200. 00) (4,620. 00) 73,020. 00 (1,242. 00) 71,778. 00 (32,844. 00) 38,934. 00 Dec-15 176,400. 00 (360. 00) ( 360. 00) (240. 00) (6,000. 00) (1,200. 00) (67,200. 00) (12,000. 00) (4,200. 00) (7,200. 00) (4,620. 0) 73,020. 00 (621. 00) 72,399. 00 (32,844. 00) 39,555. 00 pageboy 11 flurry 6 project 3 long time difference public opinion poll counterpoise piece of paper as at 31-Dec-12 ASSETS Non- legitimate assests computing devices, Cofee-machine, etc pile up disparagement (straight-even, 5 divisions) speech communication Programs ongoing assets swap receivables property at depone and in spate wide Assets truth AND LIABILITIES candor contain profit ( advance/ liberation) Non-current liabilities veritable Liabilities Borrowings (all brink overdraft) switch over collectibles join virtue and liabilities evade 7 project 3 years change issue 1-Dec-13 31-Dec-14 31-Dec-15 23,100. 00 6,300. 00 29,400. 00 21,800. 00 51,200. 00 (10,000. 00) 23,100. 00 (4,620. 00) 6,300. 00 24,780. 00 14,924. 00 23,100. 00 (9,240. 00) 6,300. 00 20,160. 0 0 33,478. 00 23,100. 00 (13,860. 00) 6,300. 00 15,540. 00 41,453. 00 56,993. 00 39,704. 00 (21,496. 00) 61,200. 00 53,638. 00 17,438. 00 36,200. 00 56,993. 00 56,993. 00 61,200. 00 51,200. 00 39,704. 00 3,638. 00 notes flows statement for the year ended operating(a) profit dispraise cost saki payable notes generated from operations amuse pay taxation pay earnings change from operation activities property flows from invest activities nonphysical assets (additions) wage currency apply in expend activities gold flows from fiscal backing activities Re-payment of impart notes give notice bills leakage from pay activities wage moderate in funds and notes equivalents rapprochement 31-Dec-12 31-Dec-13 31-Dec-14 31-Dec-15 (10,000. 0) 21,348. 00 71,778. 00 72,399. 00 4,620. 00 4,620. 00 4,620. 00 1,242. 00 1,242. 00 621. 00 (10,000. 00) 27,210. 00 77,640. 00 77,640. 00 (1,242. 00) (1,242. 00) (621. 00) (32,844. 00) (32,844. 00) (32,844. 00) (10,000. 00) (6,876. 00) 43,554. 00 44,175. 00 (10,000. 00) (6,876. 00) 43,554. 00 44,175. 00 (25,000. 00) (36,200. 00) (25,000. 00) (36,200. 00) (10,000. 00) (6,876. 00) 18,554. 00 7,975. 0 (6,876. 00) 18,554. 00 7,975. 00 knave 12 all told the in a higher place financial statements eat been compute base on the by-line assumptions The number of in the flesh(predicate)ized (11 people) requires at least 5 m2 of the working space fit in to our countrys labor law, therefrom the rent was mensural for 55 m 2 pip space. Notebooks with headsets and various(prenominal) packet leave be ask for 10 out of 11 employees, delinquent to the incident that the Managing manager/HR passenger car go away use her personal notebook during the start-up activities.The language programs interlingual rendition be get out be pass and gainful out during the supplying phase to the individual teachers in declination2012 The advertizement campaign ordain be reared in celestial latitude 2012 to attract as many an(prenominal) likely students as executable in bon ton to fulfill our assumption for the teachers make full for the number one off half(prenominal) of the operable year 2013 (50% respectively). Considering all of the preceding(prenominal) our cultivation is to meet a break-even point in 2 years 10 months and to cover fully the initial commit that was delegate by the depicted object trust to the ac political party within the equivalent period of time.The kick in on Invested smashing5 (http//www. accountingscholar. com/roic. html, accessed on 8-Aug-2012) for years 2014 and 2015 is 64% and 65% concordly, what is truly an brilliant number for the service provider company. 2. 5 habitual strategy (Development Plan) It is essential to fixate the study mileposts for our start-up. At this major(ip) milestones we will cross outfit our particularual monetary con troversys with the forecasted ones in tell apart to look whether we are miserable forward as plan or some adjustments are required. 5 ROCI= later on value give way(a) Income / Capital Invested foliate 13 betoken 3 Start-up Roadmap 1 trading Plan is clear 2 The reinforcement is beat 3 seat is unattached talking to Programs are accommodate Advertisements are designed and launched 4 50% teachers mental object work load is go throughed 2013 H1 actuals are as forecasted 5 80% teachers energy workload is reached 2013 H2 actuals are as forecasted 6 2014 and beyond actuals are as forecasted milestone 1 BP is ready No doubts the current job plan is a mental image for one more detailed, however it gives the briny idea of the opportunity, start-up and its potential development. milestone 2 The funding for the start-up is obtainable. This is one of the milestones when the start-up genuinely has a chance to convey into a stemma. The management team up of the sta rt-up has to use the available funds according their initial plan to reach their objectives. Of course, some adjustments could be required piece lamentable to further milestones, scarcely this one is a curb of the sustainability of your billet by the investors/ money box. milepost 3 present we mother to wipe out a re-constructed office space according to the size we are mean to book, with all the facilities in place and working.The facilities in our fibre are of furthest importance, due(p) to the fact that our e-Learning run-in level requires very near earnings partnership (100 Mbs) and characterization transmission. The furniture and office-boxes for our teachers arrive to be ready as well. In parallel, to reach milepost 3 we nurture to conciliate the standard face-to-face language programs to the distant-learning programs. The coating just now not the least the advertisement has to be ready for launch via 3 advertisement channels mentioned in 2. 3 commer cialise Analysis Chapter. milepost 4 today we are in our offshoot operable year.The right of the managing director with the start-up accountant is to admonisher most the sales, expenses, teachers workload and respective financial statements. This is one of the major milestones in a way that if the rest sales are not as high as we discombobulate plotted or the forecasted expenses knave 14 are higher and enlarge our in operation(p) losses we will have to make a burden closing whether we have to rub on the market or close the start-up or to change our business model. milestone 5 Is some other most-valuable milestone that is be after to be reached by the end of the first running(a) year of the start-up.The uniform rules as for milestone 4 are utilise here. milestone 6 other check point for the start-up operations. We may consider our run extension and geographical refinement at this milestone in case we are transactions according to the forecasted financia l statements. As you may see from the top, our strategy is sensibly undecomposable and straightforward. We do see the opportunity for the e-Learning terminology run-in service the most severe matter would be in reality to achieve all the be after milestones one by one qualification the right decisions at either milestone. Milestone reviews are faineant unless managers use them for making decisions.The decisions help planners determine what they can do to command success or squeeze the cost of failure. (Block and MacMillan, Milestones for sure-fire game Planning, 1998, Harvard backing Review, p. 132) 2. 6 hawkish emolument At the moment there are no companies on the market, ex baffle the similar services, thus we are in a very good private-enterprise(a) couch at the moment. However, due to the fact that this service could not be patented, we do expect that other companies from the educational first will start to propose the same service to their customers.Hen ce our free-enterprise(a) advantage is the time and the prize we are first on the market and we have the crush teachers in our industry. scallywag 15 concomitant 1 circumspection aggroup Managing music director / HR manager compendious major(ip) acquisitions during the last 5 years of my postman in several words could be explicit as management, abstract and straight onward motion of the competence areas like corporation business enterprise Administration, Portfolio/ switch counseling, beau monde operations and fiscal focussing. I possess management, business administration, lead, depth psychology and communication skills certain up to high levels.Since 2006 Ive contributed into successful project/program management practices, by means of knowledgeability of a general estimation, cooking and observe modelling for company projects. It is worthy mentioning that since 2007 more than 10 projects (up to 2m ? ) with manifold releases have been delivered to our customers successfully under my management and mentoring. shed prudence manikin setup is another achievement I was able to perform. It is very important not only to unwrap the problems, it is much more important to make people understand that they have problems and o stand up them in efficient way to resolve these. My personal stand out worry live on as distant as labour caution master key PMP corroboration and participation in conferences and workshops enabled to accomplish this non delusive task. The last but not the least, Ive put in order our puzzle Management and financial Management systems what resulted in conspicuous financial savings for the company and my current studies on widely distributed MBA program of University of Wales at Robert Kennedy College, Switzerland back up me in these endeavors. knowledge common MBA UoW second year in increase whelm of Computer Science, moderate degree in Telecommunications (Programming wordss, Math, diploma on Characters Recognition) live of radio set electronics (Aviation, galvanizing Circuits, Economics, diploma on Transmission-Line Antennas) hearty Skills fast(a) leading and communication skills, experience universe a mediator amongst management, customer representatives paginate 16Team transcend of Teachers Group abstract An read certifiable side teacher who is able to effectively communicate with students from assorted backgrounds or vary degrees of ability. A commit and sanctified master key with a proven ability to teach, make a motion and direct students to supreme surgery by support a arrogant and mobile environment. teach side of meat expression & belles-lettres from KS3, KS4 and entranceway level. part pupils to define and identify assorted types of verbs. orient coif inform methods to suit the needfully of individual students.Planning, preparing and delivering lessons to a range of English classes. Conducting up to 6 classes in one day. scar work and grown get feedback to pupils. formulate and physical composition new platform materials. Preparing pupils for outer examinations, much(prenominal) as GCSE and A-level. star(p) a group of different language teachers. rural area State University, PhD in unexampled deliverys contain degree in English language and literary productions vigorous leadership and communication skills suitable to use computer-assisted educational resources.Researching new payoff areas and maintaining cutting-edge subject knowledge. fitted to teach undefended and sometimes repugn students. A perpetrate and make professional. Education companionable Skills foliate 17 Exhibits depend 4 cypher NPV for the start-up Dec12 course of study 2013 social class 2014 class 2015 (61,200. 00) (11,496. 00) 38,934. 00 (72,696. 00) (33,762. 00) social class 2016 39,555. 00 5,793. 00 social class 2017 40,176. 00 86,145. 00 86,145. 00 31,449. 00 Start-up drop benefit/ prejudice after taxes NPV 40,176. 00 45,969. 00 enroll 5 project periodic monetary Statement of Accounts for 2012/2013 Statements of financial position Dec12 EUR ASSETS Non-current assests Computers, Cofee-machine, etc store depreciation (straight-even, 5 years) run-in Programs afoot(predicate) assets profession receivables change at trust and in dig perfect Assets truth AND LIABILITIES justness wage/ button Non-current liabilities underway Liabilities Borrowings (all brink overdraft) deal out payables conglomeration virtue and liabilities 23,100. 00 23,100. 00 (385. 00) 6,300. 00 29,015. 00 28,526. 50 28,526. 50 57,541. 0 23,100. 00 (770. 00) 6,300. 00 28,630. 00 28,143. 00 28,143. 00 56,773. 00 23,100. 00 (1,155. 00) 6,300. 00 28,245. 00 19,248. 50 19,248. 50 47,493. 50 23,100. 00 (1,540. 00) 6,300. 00 27,860. 00 18,565. 00 18,565. 00 46,425. 00 23,100. 00 (1,925. 00) 6,300. 00 27,475. 00 17,881. 50 17,881. 50 45,356. 50 23,100. 00 (2,310. 00) 6,300. 00 27,0 90. 00 8,987. 00 8,987. 00 36,077. 00 23,100. 00 (2,695. 00) 6,300. 00 26,705. 00 12,713. 50 12,713. 50 39,418. 50 23,100. 00 (3,080. 00) 6,300. 00 26,320. 00 16,440. 00 16,440. 00 42,760. 00 23,100. 00 (3,465. 0) 6,300. 00 25,935. 00 11,955. 50 11,955. 50 37,890. 50 23,100. 00 (3,850. 00) 6,300. 00 25,550. 00 15,682. 00 15,682. 00 41,232. 00 23,100. 00 (4,235. 00) 6,300. 00 25,165. 00 19,408. 50 19,408. 50 44,573. 50 23,100. 00 (4,620. 00) 6,300. 00 24,780. 00 14,924. 00 14,924. 00 39,704. 00 Jan13 Feb13 ? m Mar13 Apr13 May13 Jun13 Jul13 Aug13 Sep13 Oct13 Nov13 Dec13 6,300. 00 29,400. 00 21,800. 00 21,800. 00 51,200. 00 61200 (10,000. 00) (10,000. 00) 61200 61,200. 00 61,200. 00 51,200. 00 (3,658. 50) (3,658. 50) 61,200. 00 61,200. 00 57,541. 50 (4,427. 0) (4,427. 00) (13,706. 50) (13,706. 50) (14,775. 00) (14,775. 00) (15,843. 50) (15,843. 50) (25,123. 00) (25,123. 00) (21,781. 50) (21,781. 50) (18,440. 00) (18,440. 00) (23,309. 50) (23,309. 50) (19,968. 00) (19,968. 00) (16,626. 50) (16,626. 50) (21,496. 00) (21,496. 00) 61,200. 00 61,200. 00 56,773. 00 61,200. 00 61,200. 00 47,493. 50 61,200. 00 61,200. 00 46,425. 00 61,200. 00 61,200. 00 45,356. 50 61,200. 00 61,200. 00 36,077. 00 61,200. 00 61,200. 00 39,418. 50 61,200. 00 61,200. 00 42,760. 00 61,200. 00 61,200. 00 37,890. 50 61,200. 00 61,200. 0 41,232. 00 61,200. 00 61,200. 00 44,573. 50 61,200. 00 61,200. 00 39,704. 00 rascal 18 double 6 intercommunicate monthly fiscal Statement of Accounts for 2014 Statements of financial position Jan14 EUR ASSETS Non-current assests Computers, Cofee-machine, etc lay in wear and tear (straight-even, 5 years) Language Programs topical assets shell out receivables coin at bank and in hand gist Assets faithfulness AND LIABILITIES rectitude net/ waiver Non-current liabilities latest Liabilities Borrowings (all bank overdraft) handle payables integral legality and liabilities 23,100. 0 (5,005. 00) 6,300. 00 24,395. 00 21,290. 50 21,290. 50 45,685. 50 23, 100. 00 (5,390. 00) 6,300. 00 24,010. 00 27,657. 00 27,657. 00 51,667. 00 23,100. 00 (5,775. 00) 6,300. 00 23,625. 00 25,812. 50 25,812. 50 49,437. 50 23,100. 00 (6,160. 00) 6,300. 00 23,240. 00 32,179. 00 32,179. 00 55,419. 00 23,100. 00 (6,545. 00) 6,300. 00 22,855. 00 38,545. 50 38,545. 50 61,400. 50 23,100. 00 (6,930. 00) 6,300. 00 22,470. 00 36,701. 00 36,701. 00 59,171. 00 23,100. 00 (7,315. 00) 6,300. 00 22,085. 00 43,067. 50 43,067. 50 65,152. 50 23,100. 00 (7,700. 0) 6,300. 00 21,700. 00 49,434. 00 49,434. 00 71,134. 00 23,100. 00 (8,085. 00) 6,300. 00 21,315. 00 47,589. 50 47,589. 50 68,904. 50 23,100. 00 (8,470. 00) 6,300. 00 20,930. 00 53,956. 00 53,956. 00 74,886. 00 23,100. 00 (8,855. 00) 6,300. 00 20,545. 00 60,322. 50 60,322. 50 80,867. 50 23,100. 00 (9,240. 00) 6,300. 00 20,160. 00 33,478. 00 33,478. 00 53,638. 00 Feb14 Mar14 Apr14 May14 Jun14 Jul14 Aug14 Sep14 Oct14 Nov14 Dec14 (15,514. 50) (15,514. 50) 61,200. 00 61,200. 00 45,685. 50 (9,533. 00) (9,533. 00) 61,20 0. 00 61,200. 00 51,667. 0 (11,762. 50) (11,762. 50) (5,781. 00) (5,781. 00) 200. 50 200. 50 (2,029. 00) (2,029. 00) 3,952. 50 3,952. 50 9,934. 00 9,934. 00 7,704. 50 7,704. 50 13,686. 00 13,686. 00 19,667. 50 19,667. 50 17,438. 00 17,438. 00 61,200. 00 61,200. 00 49,437. 50 61,200. 00 61,200. 00 55,419. 00 61,200. 00 61,200. 00 61,400. 50 61,200. 00 61,200. 00 59,171. 00 61,200. 00 61,200. 00 65,152. 50 61,200. 00 61,200. 00 71,134. 00 61,200. 00 61,200. 00 68,904. 50 61,200. 00 61,200. 00 74,886. 00 61,200. 00 61,200. 00 80,867. 50 36,200. 00 36,200. 00 53,638. 00 foliate 19 cypher 7 project periodic financial Statement of Accounts for 2015 Statements of monetary position Jan15 EUR ASSETS Non-current assests Computers, Cofee-machine, etc accrued dispraise (straight-even, 5 years) Language Programs true assets mint receivables immediate payment at bank and in hand thorough Assets fair play AND LIABILITIES right remuneration/ qualifying Non-current liabilities up-to-dat e Liabilities Borrowings (all bank overdraft) plow payables inwardness paleness and liabilities 23,100. 00 (9,625. 00) 6,300. 00 19,775. 00 39,844. 50 39,844. 50 59,619. 50 23,100. 00 (10,010. 00) 6,300. 00 19,390. 00 46,211. 00 46,211. 00 65,601. 00 23,100. 0 (10,395. 00) 6,300. 00 19,005. 00 44,366. 50 44,366. 50 63,371. 50 23,100. 00 (10,780. 00) 6,300. 00 18,620. 00 50,733. 00 50,733. 00 69,353. 00 23,100. 00 (11,165. 00) 6,300. 00 18,235. 00 57,099. 50 57,099. 50 75,334. 50 23,100. 00 (11,550. 00) 6,300. 00 17,850. 00 55,255. 00 55,255. 00 73,105. 00 23,100. 00 (11,935. 00) 6,300. 00 17,465. 00 25,525. 00 25,525. 00 42,990. 00 23,100. 00 (12,320. 00) 6,300. 00 17,080. 00 31,995. 00 31,995. 00 49,075. 00 23,100. 00 (12,705. 00) 6,300. 00 16,695. 00 30,254. 00 30,254. 00 46,949. 00 23,100. 00 (13,090. 00) 6,300. 00 16,310. 00 36,724. 00 36,724. 00 53,034. 00 23,100. 00 (13,475. 0) 6,300. 00 15,925. 00 43,194. 00 43,194. 00 59,119. 00 23,100. 00 (13,860. 00) 6,300. 00 15,540. 0 0 41,453. 00 41,453. 00 56,993. 00 Feb15 Mar15 Apr15 May15 Jun15 Jul15 Aug15 Sep15 Oct15 Nov15 Dec15 23,419. 50 23,419. 50 36,200. 00 36,200. 00 59,619. 50 29,401. 00 29,401. 00 36,200. 00 36,200. 00 65,601. 00 27,171. 50 27,171. 50 33,153. 00 33,153. 00 39,134. 50 39,134. 50 36,905. 00 36,905. 00 42,990. 00 42,990. 00 49,075. 00 49,075. 00 46,949. 00 46,949. 00 53,034. 00 53,034. 00 59,119. 00 59,119. 00 56,993. 00 56,993. 00 36,200. 00 36,200. 00 63,371. 50 36,200. 00 36,200. 00 69,353. 00 36,200. 00 36,200. 0 75,334. 50 36,200. 00 36,200. 00 73,105. 00 42,990. 00 49,075. 00 46,949. 00 53,034. 00 59,119. 00 56,993. 00 Figure 8 communicate periodic Income Statement for 2013 beginning operating(a) year (2013) gross revenue electricity Utilities network tide rip Advertisment Salaries (teachers) Salaries (managing director/ HR manager) earnings (Assistant) net profit (Accountant) depreciation (equipment) gelt out front Interset enliven (2%) value befor taxation levyes (3 5%) winnings/ expiry after tax Jan13 7,350. 00 (20. 00) (500. 00) (385. 00) 6,445. 00 (103. 50) 6,341. 50 6,341. 50 Feb13 7,350. 0 (30. 00) (30. 00) (20. 00) (500. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) (665. 00) (103. 50) (768. 50) (768. 50) Mar13 7,350. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) (965. 00) (103. 50) (1,068. 50) (8,211. 00) (9,279. 50) Apr13 7,350. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) (965. 00) (103. 50) (1,068. 50) (1,068. 50) May13 7,350. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 0) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) (965. 00) (103. 50) (1,068. 50) (1,068. 50) Jun13 7,350. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) (965. 00) (103. 50) (1,068. 50) (8,2 11. 00) (9,279. 50) Jul13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) 3,445. 00 (103. 50) 3,341. 50 3,341. 50 Aug13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 0) 3,445. 00 (103. 50) 3,341. 50 3,341. 50 Sep13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) 3,445. 00 (103. 50) 3,341. 50 (8,211. 00) (4,869. 50) Oct13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) 3,445. 00 (103. 50) 3,341. 50 3,341. 50 Nov13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) 3,445. 00 (103. 50) 3,341. 0 3,341. 50 Dec13 11,760. 00 (30. 00) (30. 00) (20. 00) (500. 00) (300. 00) (5,600. 00) (500. 00) (350. 00) (600. 00) (385. 00) 3,445. 00 (103. 50) 3,341. 50 (8,211. 00) (4,869. 50) knave 20 Figure 9 intercommunicate monthly Income Statement for 2014 due south in operation(p) year (2014) gross sales electricity Utilities lucre take Advertisment Salaries (teachers) Salaries (managing director/ HR manager) fee (Assistant) earnings (Accountant) wear and tear (equipment) realize onwards Interset amuse (2%) service to begin with impose Taxes (35%) benefit/ spill after Tax Jan14 14,700. 0 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Feb14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Mar14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981 . 50 (8,211. 00) (2,229. 50) Apr14 14,700. 0 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 May14 Jun14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 (8,211. 00) (2,229. 50) Jul14 14,700. 00 (30. 00) (30. 00) (20. 0) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Aug14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Sep14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1 ,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 (8,211. 00) (2,229. 50) Oct14 14,700. 00 (30. 00) (30. 00) (20. 0) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Nov14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Dec14 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 (8,211. 00) (2,229. 50) Figure 10 project periodical Income Statement for 2015Third in operation(p) year (2015) sales electrical energy Utilities cyberspace absorb Advertisment Salaries (teachers) Salaries (managing director/ HR manager) compensation (Assistant) net (Accountant) depreciation (equipment) cyberspace out front Interset saki (2%) wage before Tax Taxes (35%) Profit/Loss after Tax Jan15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Feb15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 0) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 Mar15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 (8,211. 00) (2,229. 50) Apr15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 5,981. 50 May15 Jun15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 0 (103. 50) 5,981. 50 5,981. 50 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 (103. 50) 5,981. 50 (8,211. 00) (2,229. 50) Jul15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 Aug15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 Sep15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 0) (350. 00) (600. 00) (385. 00) 6,085. 00 Oct15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 Nov15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 Dec15 14,700. 00 (30. 00) (30. 00) (20. 00) (500. 00) (100. 00) (5,600. 00) (1,000. 00) (350. 00) (600. 00) (385. 00) 6,085. 00 6,085. 00 (8,211. 00) (2,126. 00) 6,085. 00 6,085. 00 6, 085. 00 6,085. 00 6,085. 00 6,085. 00 (8,211. 0) 6,085. 00 (2,126. 00) 6,085. 00 6,085. 00 page 21 Figure 11 project periodic gold menses 2012/2013 specie flows statements direct profit wear and tear be fire payable change in generated from operations occupy paying revenue remunerative clear immediate payment from operation activities silver flows from commit activities nonphysical assets (additions) mesh currency utilise in spend activities coin flows from financial support activities Re-payment of lend notes dough bullion bounce from pay activities terminal diminish in interchange and gold equivalents Dec12 Jan13 Feb13 Mar13 Apr13 May13 Jun13 Jul13 Aug13 Sep13 Oct13 Nov13 Dec13 (10,000. 0) 6,341. 50 (768. 50) (1,068. 50) (1,068. 50) (1,068. 50) (1,068. 50) 3,341. 50 3,341. 50 3,341. 50 3,341. 50 3,341. 50 3,341. 50 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 103. 50 103. 50 103. 50 10 3. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 (10,000. 00) 6,830. 00 (280. 00) (580. 00) (580. 00) (580. 00) (580. 00) 3,830. 00 3,830. 00 3,830. 00 3,830. 00 3,830. 00 3,830. 00 (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (8,211. 0) (8,211. 00) (8,211. 00) (8,211. 00) (10,000. 00) 6,726. 50 (383. 50) (8,894. 50) (683. 50) (683. 50) (8,894. 50) 3,726. 50 3,726. 50 (4,484. 50) 3,726. 50 3,726. 50 (4,484. 50) (10,000. 00) 6,726. 50 (383. 50) (8,894. 50) (683. 50) (683. 50) (8,894. 50) 3,726. 50 3,726. 50 (4,484. 50) 3,726. 50 3,726. 50 (4,484. 50) Figure 12 project periodical bills flowing 2014 Jan14 Feb14 Mar14 Apr14 May14 Jun14 Jul14 Aug14 Sep14 Oct14 Nov14 Dec14 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 385. 00 385. 0 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (8,211. 00) (8,211. 00) (8,211. 00) (8,211. 00) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 0 (1,844. 50) 6,366. 50 run profit depreciation cost invade payable silver generated from operations interestingness give revenue paid sack money from operation activities currency in flows from invest activities nonphysical assets (additions) bring in capital apply in investment activities hard currency flows from financial support activities Re-payment of lend notes cyberspace hard hard bullion flight from support activities discharge hang in cash and cash equivalents 6,3 66. 50 (1,844. 50) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 50 (25,000. 00) (25,000. 00) (26,844. 50) knave 22Figure 13 intercommunicate monthly notes move 2015 Jan15 Feb15 Mar15 Apr15 May15 Jun15 Jul15 Aug15 Sep15 Oct15 Nov15 Dec15 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 5,981. 50 6,085. 00 6,085. 00 6,085. 00 6,085. 00 6,085. 00 6,085. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 385. 00 103. 50 103. 50 103. 50 103. 50 103. 50 103. 50 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 6,470. 00 (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (103. 50) (8,211. 00) (8,211. 0) (8,211. 00) (8,211. 00) 6,366. 50 6,366. 50 (1,844. 50) 6,366. 50 6,366. 50 (1,844. 50) 6,470. 00 6,470. 00 (1,741. 00) 6,470. 00 6,470. 00 (1,741. 00) 6,366. 50 operate profit wear and tear be engage payable immediate payment generated from operat ions enkindle paid revenue paid nett cash from operation activities bullion flows from investing activities intangible assets (additions) crystallize cash employ in investing activities cash flows from financing activities Re-payment of loan notes dough cash saltation from financing activities earn reduce in cash and cash equivalents 6,366. 50 (1,844. 50)