| Current Financial Statement for: MB Fantasy Football League, Inc Date of incorporation: 05/10/2016 Current number of employees: 1 | |||
| Fiscal Year: | Prior Fiscal Year end: 31/12/2015 |
Most recent Fiscal Year end: 31/12/2016 |
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|---|---|---|---|
| Balance Sheet Highlights | |||
| Total Assets: | $73,857 | ||
| Cash and Cash Equivalents: | $26,107 | ||
| Accounts Receivable: | |||
| Short-term Debt: | $102,000 | ||
| Long Term Debt*: | |||
| Income Statement Highlights | |||
| Revenue/Sales**: | |||
| Cost of Goods or Services Sold: | |||
| Taxes Paid: | |||
| Net Income: | |||
| Prior Year Notes:
Company was not in operations during 2015 |
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| Recent Year Notes:
Company was formed in 2016. During the year, the President focused on building the business model, site design and preparation to get operations started in 2017 with the kickoff of this capital raise. |
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| *Debt Statement (for all long term debts describe the terms, and debt holder):
The COmpany has $102,000 in debt which will be converted to equity in 2017 |
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| **Describe Revenue/Sales (Services or product revenue, #of customers, average sale):
No revenue to date. Planned for 2017 |
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| Fiscal Year and for # of Employees | |||
| Fiscal Year: | 2017 | 2018 | 2019 |
|---|---|---|---|
| Expected # of Employees: | 6 | 12 | 25 |
| Balance Sheet Highlights | |||
| Total Assets: | $6,188,000 | $15,167,200 | $35,164,000 |
| Cash and Cash Equivalents: | $6,088,000 | $15,067,200 | $35,064,000 |
| Accounts Receivable: | |||
| Short-term Debt: | |||
| Long Term Debt: * | $10,000,000 | $5,000,000 | |
| Income Statement Highlights: | |||
| Revenue/Sales: ** | $39,321,600 | $78,643,200 | $117,964,800 |
| Cost of Goods or Services Sold: | $22,688,880 | $43,376,000 | $68,064,000 |
| Taxes Paid: | $1,600,000 | $3,200,000 | $8,000,000 |
| Net Income: | $21,088,000 | $42,176,000 | $50,064,000 |
| Cash Flow Highlights | |||
| Beginning Cash: | $26,107 | $6,088,000 | $15,067,200 |
| Ending Cash: | $6,088,000 | $15,067,200 | $35,064,000 |
| Basis: | accrual | accrual | accrual |
| Notes for Year 1 | In 2017, the company hopes to raise $1M from investors and launched the company in time the NFL season in the fall. To reach the target revenue the Company needs to have 4 brackets with 65,536 subscribers per bracket each paying $150. Part of the use of proceeds is focused on marketing to get subscribers. Note: 41.5 Million people in the U.S. play Fantasy Football. |
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| Notes for Year 2 | In 2018, the Company needs to have 8 active brackets with 65,536 subscribers per bracket at $150 per subscriber. Note: 41.5 Million people in the U.S. play Fantasy Football. Assuming $1M is raised, the company will be paying out $10M to investors through our promise to pay 75% of the profits above a $2,000,000 reserve. In 2018, we intend to pay out $5M to investors. |
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| Notes for Year 3 | In 2019, the the Company needs to have 12 active brackets with 65,536 subscribers per bracket at $150 per subscriber. Note: 41.5 people in the U.S. play Fantasy Football. Assuming $1M is raised, the company will be paying out $10M to investors through our promise to pay 75% of the profits above a $2,000,000 reserve. In 2019, we intend to pay a second $5M to investors. |
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| Debt Statement (for all long term debts, describe the terms, and debt holder): *
""The Company has $102,000 in convertible debt which will be converted after this round of financing. However, after the offering there is a "Promise to pay" investors. Please see details on the investment offering. The balance sheet shows this $10M liability assuming we raise $1M from investors. |
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| Describe Revenue/Sales (Services or product revenue, #of customers, average sale): **
Revenue for the company is derived from subscribers who each pay $150 to join for the 16 week NFL season. This pool of money is then used to operate the business and pay out's to the teams. |
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| Project Audit | Status |
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| Proof of Identification: | |
| Representative of your Financial Reports: | |
| Corporation or LLC Certificate: | |
| Tax Form IRS W9: | |
| Copies of 2 years of tax returns: | |
| Financial Statements: | |
| Business Plan: | |