Monday, May 22, 2017 6:50:46 PM
Use of Funds
As at March 31, 2017 the company had planned the acquisition of land on the Rufus Industrial Estate. Initially the cost was $270,000 to purchase and develop the land. 2 buildings are to be constructed initially, 1 at 25,000 and 1 at 16,000 sq. ft. The cost of supply and erection of these buildings will be around $695,000. Plant & Production Line Equipment, which comprises concrete mixers and cement and sand handling equipment, fork lifts, casting tables and specialized equipment, will cost approximately $900,000 and Shop Equipment will be $180,000. The balance will be used for working capital and expenses including wages and salaries, marketing, IR services and other working capital and reserves.
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