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Using their own proprietary designs, XYZ Company (Company) develops and manufactures electronic avionic components for today’s PC flight simulator market. Several basic modules, simulating virtually all major cockpit functions, are distributed through representatives in the US and worldwide, as well as sold direct. The modules are offered in easily mountable components for complete customization. Flip real switches to start engines. Push real buttons to engage and disengage autopilot. Turn real knobs to tune your radios, and see the frequencies on real LED displays. Adjust pitch trim using a wheel, control landing gear with the “clunk” of a gear lever. The GF-AC cockpit control system from the Company is designed to be the most affordable and expandable way to create a home simulator cockpit ever created. The user can choose from over 300 cockpit functions to create the ultimate flight deck right on his or her desk or in their custom cockpit. All components are assembled in-house using standard distributed parts. Local shops perform flow soldering, as well as PC board and metal fabrication. The Company operates in leased space month-to-month. There is nothing unique or permanent about the present site. Both owners have, in the past, established a number of new companies. The Company was founded in late 1999 as a hobby and as a way for the energetic owners, both engineers and avid flight simulator enthusiasts, to put their many talents to work. They now wish to focus on creating and developing new products, for which they hold US patients, and desire to turn the Company over to someone who values the work completed to date and who is capable of using existing and establishing new marketing and sales channels to take the Company to the next level of success. Financial History Although under development much of the time, the Company has shown solid sales over its history. Sales for the year 2001 were approximately $100,000, however, it shou
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