Initial Budget For The Opening of The Puerto Rico International Shipwreck Museum (P.R.I.S.M.) $5,000,000
INITIAL CAPITALIZATION Equity
$5,000,000
USE OF PROCEEDS Exploratory & initial cost
100,000
Financing costs (commissions)
150,000
Form corporations
20,000
Secure permits and license
10,000
Other legal
20,000
Accounting (beginning audit, software & bookkeeper)
10,000
st
Lease (1 /last/ 2 mos. for construction)
100,000
Hotel rooms (during construction phase)
10,000
Air travel (during construction phase)
10,000
Telephone (during construction phase)
6,000
Insurance
20,000
Utility connections & deposits Officers’ salaries (including Principal Investigator Dr Baer) Consultation for artifact museum displays Artifact preparation and transportation Artifact purchase/lease/exchange (first year)
7,000 200,000 50,000 25,000 1,000,000
Closed Circuit and security system (including back-up power)
70,000
Security personnel
20,000 500,000
Gift shop inventory Internet Web Page construction (Including on-line sales) Construction costs: Exhibition areas, conservation lab, office,
22,000 1,250,000
gift shop, research library, media room & related equipment. Total Expenditures Beginning operations & inventory reorder Reserve for first two years contingency/or Calypso type vessel
1/31/11
$3,600,000 $400,000 $1,000,000 reserve