f_inscreenname
10-15-2008, 10:02 PM
*************** News Alert ***********
Earnings Report >>>Time Warp Classic Boats
October 15, 2008, 10:45 PM
“Time Warp Classic Boats” has become insolvent and it looks like the staff will have to work for free for the next couple months or we will have to close up shop. We already had to implement a 2 month furlough starting January just to save money but sadly it looks like it will not be enough. We will try to sell off some more assets just to keep the doors open and the supplies to continue operations coming in so we can get our product to market before we can not continue anymore.
We are tightening our belts by streamlining our stock for only what is necessary to complete the product but that presents the problem of selling the assets. It is a depressed market and they will have to be sold at a loss. So again the bottom line will be affected negatively.
With the help of the staff, we will be able to move on.
The good news. “Time Warp Classic Boats” may be in line for a credit line by one of our many supporters but credit is very tight right now so it is not dependable.
We are also still on target to be profitable in the second or third quarter of 2009 even if the current market was to continue for the foreseeable future.
Balance Sheet
Time Warp Classic Boats
Sales
Bennett Trim tabs set >>>> 450.00
Ellison props (2) >>>>>>>> 191.00
Cross Wind Intake >>>>>>> 129.00
Cowl vents >>>>>>>>>>>> 40.00
>>>>>>>>>>> $810.00
Expanses
1973 Monza >>>>>> 500.00
Crank kit >>>>>>>> 230.00
2 Rods >>>>>>>>>> 37.00
Pistons mounting >> 30.00
Oil pump >>>>>>>>> 30.00
Gasket set >>>>>>> 40.00
>>>>>>>>>>>> $867.00
------------------------------------------------------------------------------------------------------
Totals -$57.00
Term Definitions
Staff = Me
January Furlough = The time the staff is taking off to remodel the basement.
Assets = Garage Sale
Creditor = The Wife
http://www.supernova19.com/forumcw/Smileys/classic/grin.gif
Earnings Report >>>Time Warp Classic Boats
October 15, 2008, 10:45 PM
“Time Warp Classic Boats” has become insolvent and it looks like the staff will have to work for free for the next couple months or we will have to close up shop. We already had to implement a 2 month furlough starting January just to save money but sadly it looks like it will not be enough. We will try to sell off some more assets just to keep the doors open and the supplies to continue operations coming in so we can get our product to market before we can not continue anymore.
We are tightening our belts by streamlining our stock for only what is necessary to complete the product but that presents the problem of selling the assets. It is a depressed market and they will have to be sold at a loss. So again the bottom line will be affected negatively.
With the help of the staff, we will be able to move on.
The good news. “Time Warp Classic Boats” may be in line for a credit line by one of our many supporters but credit is very tight right now so it is not dependable.
We are also still on target to be profitable in the second or third quarter of 2009 even if the current market was to continue for the foreseeable future.
Balance Sheet
Time Warp Classic Boats
Sales
Bennett Trim tabs set >>>> 450.00
Ellison props (2) >>>>>>>> 191.00
Cross Wind Intake >>>>>>> 129.00
Cowl vents >>>>>>>>>>>> 40.00
>>>>>>>>>>> $810.00
Expanses
1973 Monza >>>>>> 500.00
Crank kit >>>>>>>> 230.00
2 Rods >>>>>>>>>> 37.00
Pistons mounting >> 30.00
Oil pump >>>>>>>>> 30.00
Gasket set >>>>>>> 40.00
>>>>>>>>>>>> $867.00
------------------------------------------------------------------------------------------------------
Totals -$57.00
Term Definitions
Staff = Me
January Furlough = The time the staff is taking off to remodel the basement.
Assets = Garage Sale
Creditor = The Wife
http://www.supernova19.com/forumcw/Smileys/classic/grin.gif