Monthly Business Budget Report by zjt18914

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									                                            MONTHLY STATUS REPORT

TO:                 BC Advantage Funds
                    Attn: David Raffa/Tanner Philp

FROM:               [COMPANY NAME]
                    [NAME OF CEO]

DATE:               March 4, 2005


[INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. This is a monthly report to be provided by the Company to Advantage. It is
intended that these reports be summary in nature, no more than three to four pages long. Each
of those items should consist of one to two paragraphs of content. The reports are to provided
within 10 days of the end of the month in question.]

The following is my report for the month of .

Financial Position and Reconciliation to Budget

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. The form of monthly financial report will vary between companies in revenues
and not in revenues. For companies in revenues, do not use projected revenues unless there
are signed contracts, purchase orders etc. Use existing revenues and if the company has
show, consistent month over month growth, you can use that as a projection.

This report assumes that you will be providing, separately, a set of financial statements
(monthly, quarterly, semi-annual, annual) that will be cross-referenced. The purpose of this
resport is to provide the MD&A discussion to accompany them. ]

Provided with this report are financial statements for the period ended [date], representing the
[most recent month end] [most recent fiscal quarter, being the [number] quarter of the fiscal
year] [semi-annual financial statements] [annual financial statements].

Cash Position and Fume Date

The Company's current working capital position is $, based on current assets of $ and
current liabilities of $. The Company's cash position at month end ([insert date]) was $. The
Company's current monthly burn rate is $. Assuming [no revenues] [monthly revenues of $
 (current run rate)], the Company has sufficient cash to continue operations until [date]. This
takes into account the increase in monthly burn rate contemplated in the budget which
increases to $ per month by the end of this period.

Revenues

[delete if company is company pre-revenue. Add explanations of any material variances from
projections or past performance]

The Company had revenues of $ for the month in question and $ for the year to date, 
[ahead/behind] projections by $ (%) and $ (%) respectively. Cost of sales for the month



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in question were $ and for the year to date $, [ahead/behind] projections by $ (%) and $
 (%) respectively for a gross margin of $ for the month in question and $ for the year to
date.

Earnings before income tax, depreciation and amortization (EBITDA) were $ for the month in
question and $ for the year to date, [ahead/behind] projections by $ (%) and $ (%)
respectively.

Net profit (loss) was $ for the month in question and $ for the year to date, [ahead/behind]
projections by $ (%) and $ (%) respectively.

[discuss as appropriate]

Variance to Budget

The following is an analysis of the variance to budget for the month in question and for the year
to date. In total, the Company is [over/under] budget on expenses by a total of $ for the
month in question, and [over/under] budget on expenses by a total of $ for the year to date.

The principal reasons for this are [describe].

The following is a more detailed breakdown for the month in question, and for the year to date
(representing the first  months of the current fiscal year which ends on ):


          Month in Question - [name month]                        Year to Date ( months)

  Line Item      Budget           Actual     Variance     Budget           Actual      Variance

                   $              $             $         $             $              $

                   $              $             $         $             $              $

                   $              $             $         $             $              $

                   $              $             $         $             $              $

                   $              $             $         $             $              $

                   $              $             $         $             $              $


[Explain material variations]

Status of Research and Development

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. If the Company has provided us with a business plan that outlines the plan for
R&D, or a separate RD plan, discuss how the actual work is proceeding to plan and explain any
variances. Summarize material problems that have been encountered that are currently
outstanding, and what is being done to address them. If milestones had been discussed and
agreed upon, report on the status and identify if you are ahead or behind schedule and provide
an explanation of why if behind. Be sure to a variance discussion]




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

Sales and Marketing

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Take the sales report that the lead sales person provides to the CEO and
summarize it here. This should be the typical sales report that identifies the funnel, how it is
being filled, how it is being managed, the expected closure rate and date etc. If, in any prior
reports, sales were projected to close and they have fallen off the table, identify and explain
what happened. Be sure to a variance discussion]



Strategic Relationships

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Discuss any discussions, progress etc. in relation to strategic partners.
Discuss if the Company is on/off what was contemplated in the business plan. Be sure to a
variance discussion]



Human Resources

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Discuss additions to/deletions from the team over the past month. If the
budget projected a new hire in that month and the position hasn’t been filled, discuss. Identify
what positions are needed to be filled. If the Company is at risk regarding a position, please
identify. Identify additions/deletions to the Board and Advisory Board as well. Be sure to a
variance discussion]



Financing

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Discuss if financing is anticipated to be needed in the next 90 days and advise
if the Company has been approached by any financiers. Be sure to a variance discussion]



Mergers and Acquisitions

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Discuss any approaches that have been made by potential buyers, or if the
Company has identified any acquisition opportunities. Be sure to a variance discussion]






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Heads Up

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Discuss any material item that may come up in the next 90 days that we
should be aware of.]



Capital Structure

[If shares have been issued, give a description of the class and rights of the shares.]

The Company issued  common shares during the month for consideration of $. The
Company issued  options during the month with an exercise price of $ and a term of . The
following is a current summary of the Company’s capital structure:

[add to or delete rows from the following table, as applicable. If no other VCCs, you can
delete that row. If no LSFs, you can delete that row]



                                               Total Issued                      Fully Diluted

                                  Class of              Percenta   Warrants/            Percentag
         Shareholder              Shares     Number        ge      Options     Number       e

 Founders,        Friends     &                  
 Management                                                %                           %

 Advantage                                                %                           %

 Other Angels                                             %                           %

 Other Investors (footnote)                               %                           %

 Other VCCs (if applicable)                               %                            

 LSFs (if applicable)                                     %                           %

 Total                                                    %                           %


Other?

[ INSTRUCTION NOTE TO USER: Use the following as an outline and then delete this
instruction note. Add any sections pertinent to your business that we should be aware of.]

Certificate

The foregoing is, to the best of my knowledge, true and accurate.



                   "sign"_____________
[NAME, CEO]




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