Reply To: Corporation and Revenue

Please see below for your enquiry;

1) Business has been operating since 2005. We have moved to corporate structure to assist us with the growth of the business and tax purposes.

2) The source of financials is from our MYOB database as qualified by accountant and also 2014/15 ATO Submitted Financials.

3) Relationship between Bat Tech and Kevin Orchard is that Bat Tech PTY LTD is owned by Kevin Orchard as sole shareholder and director. The Kevin Orchard financials are for Kevin’s own ABN as a sole trader. Kevin Orchard is a guarantor for the loan.

4) Revenue has declined from Sole Trader ABN (Kevin Orchard T/as Bat Tech) as moving more income to the Bat Tech PTY LTD account. From 1st June all income will be in the company account and expected revenue will be around the $35K/month on current figures not including likely increase terms of trade when signage at new location is completed in Pyrmont and that is open and operating.

Please let me know if require further details.