Operating History. The Company is in the process of emerging from Chapter 11 bankruptcy protection and does not have a recent history of profitable operations. The New Money Investor acknowledges that the ownership of the Shares involves a high degree of risk of loss of the New Money Investor's entire investment. The New Money Investor has made such investigation of the business and prospects of the Company as it deems adequate and specifically recognizes there is no assurance of any income from this investment.
Operating History. The Company has no operating history and will be operating in an evolving industry that may not develop as expected. A significant amount of further work is required in order to create the Tokens by the Company and implement the Platform by the Platform Operator and much of that work is reliant on the input or consent of other persons not under the control of the Company. Assessing the business and future prospects of the Company and the Platform Operator is challenging in light of the risks and difficulties the Company and the Platform Operator may encounter. These risks and difficulties include, but are not limited to, their ability to: - navigate complex and evolving regulatory and competitive environments; - obtain the requisite regulatory and other licenses in the relevant jurisdictions; - obtain and retain customers; - successfully develop, maintain and update internal controls to manage compliance within an evolving and complex regulatory environment; - effectively identify and react to market trends; - be involved in the successful development and deployment of the Platform; - implement new products and services; - successfully execute the Company’s funding strategy; - effectively compete with other companies; - successfully navigate economic conditions and fluctuations in the market; - effectively manage the growth of the business; - continue to develop, maintain and scale the Platform; - effectively use finite personnel and technology resources; - effectively maintain and scale financial and risk management controls and procedures; - maintain the security of technology infrastructure, and the confidentiality of the information provided and utilized therein; and - attract, integrate and retain qualified employees and contractors.
Operating History. Potential Gross Income $2,450,377 $2,534,428 $2,574,581 $2,597,040 $6,842 $9.96 Vacancy & Collection Loss 128,187 5.2% 160,649 6.3% 180,621 7.0% 181,793 7.00% 7.00% Rent Income $2,322,190 $2,373,779 $2,393,960 $2,415,247 $6,373 $9.26 Other Income 47,962 2.1% 54,178 2.3% 80,973 3.4% 72,457 3.00% 3.00% Effective Gross Income $2,370,152 $2,427,957 $2,474,933 $2,487,704 $6,564 $9.54 Percent Increase 2.4% 1.9% 0.5% Expenses: Real Estate Taxes $304,842 $298,528 $297,823 * 299,997 $792 $1.15 Insurance 29,964 59,378 40,670 52,173 $138 $0.20 Management 207,292 8.7% 188,428 7.8% 185,985 7.5% 124,385 $328 5.00% General & Administrative 278,023 296,006 278,107 286,954 $757 $1.10 Utilities 143,415 153,231 152,757 156,520 $413 $0.60 Maintenance & Repairs 223,449 225,747 230,887 234,780 $619 $0.90 Marketing 21,857 17,629 19,719 18,261 $48 $0.07 Total Expenses $1,205,842 $1,239,947 $1,205,948 $1,173,070 $3,095 $4.50 Percent Increase 2.8% -2.7% -2.7% Percent of Income 50.9% 51.1% 48.7% 47.2% Net Operating Income $1,164,310 $1,188,010 $1,268,985 $1,314,634 $3,469 $5.04 *Based on Public Tax Information The rent roll, dated July 19, 1996 indicates rent income from existing leases at $202,462 a month (excluding vacant units). Based on a straight line projection, the effective gross income is calculated as follows. $202,462 X 12 Months = $2,429,544 Other Income (3.0%) 72,886 ---------- Annual Straight Line Projection $2,502,430 This straight line projection of $2,502,430 compares reasonably well with the projected effective gross income of $2,487,704. DIRECT CAPITALIZATION The last item needed to complete the summary of the income capitalization approach is deriving the capitalization rate (O.A.R.). Direct Capitalization is the process of converting income into value either by dividing the net income by an overall rate or by multiplying the potential or effective gross income by a multiplier. When valuing property by direct capitalization, it is essential that the market comparables reflect risk, income, expenses, and physical characteristics similar to those of the property being appraised. An overall capitalization rate is established by dividing a comparable's estimated net operating income by its selling price. The basic mathematical formula for deriving this overall rate is as follows:
Operating History. The Company was originally organized in February 1997 and has a limited operating history. The Company is a relatively new business and no assurance can be given that the Company will be successful. Accordingly, the Company's limited operating history prohibits an effective evaluation of the potential success of the Company. The Company's viability and continued operations are dependent upon future profitability, its ability to generate cash flow and other business opportunities. The Company's operations are subject to all the risks inherent in the establishment of a young business enterprise. The likelihood of success for the Company must be considered in light of the problems, expenses, complications, and delays frequently encountered in connection with the development of a new business and the competitive environment in which the Company operates. There can be no assurance that the Company will be able to operate profitably in the future. Its financial objectives must therefore be considered highly speculative. GOING CONCERN AUDITOR'S AUDIT. The WDI financial statements for year ended March 31, 2000 were issued pursuant to a going concern report by the WDI auditors. This report states that the continuation of operations is dependent upon WDI's ability to obtain adequate financial resources. WDI EXPECTS TO CONTINUE TO INCUR LOSSES FOR THE FORESEEABLE FUTURE. WDI incurred a net loss of $1,701,820 for the year ended March 31, 2000, including a negative equity adjustment of $493,938 for fiscal 2000. At March 31, 2000, the Company had an accumulated deficit of $2,648,340. There is no assurance that WDI will generate significant revenue or achieve profitability. There is no assurance WDI will be successful in obtaining additional financing or that such financing will be available, nor if such financing becomes available that it would be upon terms acceptable to WDI. WDI WILL REQUIRE ADDITIONAL WORKING CAPITAL. The Company will require additional working capital and other funds for the maintenance and expansion of its operations. We may not be able to raise additional capital in the future on terms acceptable to us or at all. Moreover, future financings may be dilutive to our shareholders. If alternative sources of financing are insufficient or unavailable, we will be required to modify our growth and operating plans in accordance with the extent of available funding. There is no assurance that WDI will be successful in obtaining additional financing or that s...
Operating History. Except as contemplated herein and with respect to the Purchase and Sale Agreement dated effective March 1, 2017 between Rockies Standard Oil Company, LLC (“RSOC”) and the Company (the “Asset Purchase Agreement”), as amended, and the transactions contemplated therein, the Company is not a party to any agreement or undertaking, has never commenced operations or received or expended any money or other property and has no assets or liabilities, other than transaction costs incurred in connection with such agreements which will be paid on or prior to Closing. The Company is managed by a sole Manager, Xxxx X. Xxxxxx, who has managed the Company solely in his capacity as manager.
Operating History. Except as contemplated herein and with respect to the Petroleum, Natural Gas and General Rights Conveyance dated April , 2017 among Grassy Butte Energy, Ltd., Colony Energy, LLC and Grassy Butte Energy LLC, and the transactions contemplated therein, the Company is not a party to any agreement or undertaking, has never commenced operations or received or expended any money or other property and has no assets or liabilities, other than transaction costs incurred in connection with such agreements which will be paid on or prior to Closing. The Company has no officers, directors or managers and is managed by the Sellers and Grassy Butte Energy LLC, who have managed the Company solely in their capacity as members owning membership interests in the Company.
Operating History. Purchaser was formed on February 22, 2001. Except as listed on SCHEDULE 3.02(g), the Purchaser has no assets or liabilities as of the Closing Date, other than funding provided in respect of the Closing.
Operating History. Although the Company has been in business since March 1997, it is mostly recently starting to exit the development stage as it is beginning to widely distribute products that utilize the CARTIS system. Due to the Company's operating history and limited resources, among other factors, there can be no assurance that profitability or significant revenue will occur in the future. The ability of the Company to establish itself as a going concern is dependent upon the receipt of additional funds from operations or other sources to continue its activities.
Operating History. Except as expressly described in the Option Agreement, the Company is not a party to any agreement or undertaking, has never commenced operations or received or expended any money or other property and has no assets or liabilities. For greater certainty the Company is party to (i) a Promissory Note dated January 18, 2017, in favour of Green Matters Inc., in the amount of USD$500,000 and a subscription agreement with Asia Pacific dated February 27, 2017 for an equivalent amount; (ii) a Promissory Note dated March 16, 2017 in the amount of $500,000 in favour of the Buyer and a subscription agreement with Asia Pacific dated March 15, 2017, and (iii) a Promissory Note dated April 26, 2017 in the amount of $500,000 in favour of the Buyer and a subscription agreement with Asia Pacific dated April 28, 2017. The Company’s only assets consist of the Option Agreement and an aggregate total of 2,930,259 shares and 2,930,259 share purchase warrants issued by Asia Pacific pursuant to the three subscription agreements referred to above. The Company has no officers, directors or managers and is managed by the Sellers, who have managed the Company solely in their capacity as members owning the Membership Interests. The Company has no liabilities other than the liabilities arising out of the three promissory notes referred to above.
Operating History. Except as contemplated herein and with respect to the Petroleum, Natural Gas and General Rights Conveyance dated April 3, 2017 among Grassy Butte Energy, Ltd., Colony Energy, LLC and Seller, and the transactions contemplated therein, the Company is not a party to any agreement or undertaking, has never commenced operations or received or expended any money or other property and has no assets or liabilities, other than transaction costs incurred in connection with such agreements which will be paid on or prior to Closing. The Company has no officers, directors or managers and is managed by Seller, Blue Phoenix Energy, LLC, and Pacific Petroleum, LLC, who have managed the Company solely in their capacity as members owning membership interests in the Company.
