6.0. EDSR 06-12-2000 V V ! v
ELK RIVER BUSINESS INCUBATOR
• APPLICATION FORM
Name of Business: Ver4tca\ 1 k 101 0►►/1j TAlC
Name of Principal: Da(f 7 ' ABY (4 i f 1,e
Address: ��s7� S S�t` �u►��� o?Ofr/j S7L )7Lt1.
Phone: 1/2g2 Fag:
Ownership structure: Sole Proprietorship ❑
Partnership 0
Corporation •
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Business is primarily involved in: Research and Development 0
Product Manufacturing/Assembly
Other
Principal product(s): /119ll +e c A No'oil Seryl
•
Activities to be undertaken in the incubator facility:
CoN1/ert P :/1/44 �' c 0.t 1 GN S o n/ /,✓/er/✓- 06/h/ec Caw-felt/14.
Projected number of employees (including principal) at incubator
operation:
Full Time Part Time
Initially 3 /
After 6 months / 7
At the end of 1 Year 3 Y
At the end of3Years "'R N4
The Business has the following characteristics:
• Advances Technology ❑
Projects Fast to Moderate Growth
Medical Related Product/Technology ❑
Energy Related Product/Technology 0
If Business is a sole proprietorship, indicate principals net worth:
$0- $24,999 ❑
$25,000- $74,999 0
$75,000- $99,999 0
$100,000- $200,000 0
Greater than $200,000 0
List the amount of equity you have received to date in the form of stock
ownership and/or direct investment:
$0- $24,999 ® $300,000- $400,000 0
$25,000- $74,999 0 $400,000 - $500,000 ❑
$75,000- $99,999 0 $500,000- $1,000,000 0
$100,000- $200,000 0 $1,000,000 - $1,500,000 0
$200,000- $300,000 0 $1,500,000+ up 0
List the amount of equity you will require from outside sources over the
period of:
one year in the Business Incubator $ a,Dov boo
• two years in the Business Incubator $ NA
The Business is currently in operation: Yes Igj No 0
Current Location of Business S 13 S Po w m q,1 a e r lila I K �d C o4Ny&i /17/1/
Number of Years In Operation 0.
Current Number of Employees 3
Most Recent Annual Sales N/A
The Business will require approximately 2pO'' square feet of space in
the Business Incubator, with the following special needs/requirements:
•
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•
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• Please attach the following information:
• Business Plan, including financial projections, current sales figures (if
any), Profit and Loss Statement, and Balance Sheet.
• Personal financial statements
•
Signature:
Printed name: bc.rry/ Ar74,tf c
Company name: v�(+icu ��1'5�.4�� �Nc
Date: ZZ/OD
• eda\bincapp.doc
•S Present: Business Incubator Advisory Board Meeting
Review of Vertical Publishing, Inc. Application
S
May 31, 2000 4:00 pm Business Incubator Absent:
Darryl Arquitte —Vertical Publishing Stephanie Klinzing— Committee Member
Harlan Jacobs — Genesis Business Centers Jeff Gongoll — Committee Member
Jim Barthel — Committee Member Jack Mowry— Committee Member
Daryl Thompson — Committee Member
Larry Hickman — Committee Member
Marc Nevinski — Staff
Darryl Arquitte of Vertical Publishing made a presentation to the Business
Incubator Advisory Board outlining the company's business plan. Products
and service, sales projections, market potential, and employee needs were
discussed with the applicant. The committee also inquired about operating
plans and learned that the company will be outsourcing a number of services
and task to reduce costs and increase efficiencies. Finally, the company has
sought financing from a number of local sources including the Elk River
Investment Club and the Anoka/Sherburne County Capital Fund. Additional
investors are being sought.
Following Mr. Arquitte's presentation, the committee discussed Vertical
Publishing's potential as an incubator company. It was noted that the
company's sales projections were very aggressive, although it was agreed that
the potential exists for the company to grow too fast as well. It was also
noted that the company is beyond the product development phase and has
entered the marketing and sales phase.
The committee recommended the EDA approve Vertical Publishing's
application for admission into the Elk River Business Incubator Program.