Alaska Dyeworks Sale Price $65,000 Terms of Sale $30,000 Down $35,000 Note Payable at 6.5% interest, payable monthly on first day of month, interest calculated based on 365 days. Five year note. No penalty for early pay off. Late penalty of 1.5 % applies after 5 days late. Buyer and Seller will share closing costs. Escrow account held at Wells Fargo. Business and inventory/equipment sold as is. Critical Items of Sale Including: All Formulas for colors delveloped Miele Mangle 55" Custom Made (Ironing Machine) Eight (8) Whirlpool washers* 3 Hot Water Heaters, 80 gallon Two (2) Weeks Training at Seller's expense One (1) move of equipment/inventory ( A second move may be arranged at Buyer's expense of .80¢/mile.) Three (3) Years Covenant Not To Compete 3 Months of Phone Consultations at Buyer's expense Any and all complete collections of Solid Fabric Families Any and all Mottled/Tie dyed Fabric collections whether complete or not Any remaining dyes and any and all dye cannisters Any remaining raw fabrics Metric Scale and additional weights Gloves/aprons Shipping scale Table w/ measure machine Computer w/accounts receivable and customer list (Makers Automated Clerk) Show tables/dollie/tubs/cash register/chairs and misc Website and web name (paid in advance for next 11-12 years) Lap top travel computer w/accounts payable software Quickbooks Pro Magnetic card swipe for charge sales and key board attachment Cell phone and connectors for lap top; MacAuthorize software for charges Boxes of business records Silk Ribbon inventory Will include as space permits, or a second move may be arranged, or may be picked up by new owners: Two (2) Whirlpool washers Work Tables Bolt Shelf units Plumbing/Sinks Urea bags Dye room supplies Not included in sale: remnants odd dye lots incomplete solid fabric families Other miscellaneous items ************************************************************************************************** Five (5) Years of Information on Alaska Dyeworks 1998 1999 2000 2001 2002 GROSS INCOME $145,200.00 $143,397.00 $118,295.00 $49,590.00 $52,455.00 ALASKA GROSS INCOME EXPLAINED: IN STORE 18,537.00 17,314.00 18,842.00 SHOWS 39,599.00 46,880.00 46,003.00 WHOLESALE 77,771.00 68,234.00 39,268.00 RETAIL MAIL ORDER 9,293.00 9,350.00 9,696.00 Adj for sales taxes 1,619.00 4,486.00 NEBRASKA GROSS INCOME EXPLAINED: IN STORE 0.00 3,487.73 SHOWS 24,920.09 29,328.71 WHOLESALE 17,294.04 17,151.19 RETAIL MAIL ORDER 4,915.59 2,264.17 Adj for sales taxes 2,460.87 223.20 SELECTED GROSS EXPENSES: Wages Reported on W3 20,361.00 16,403.00 14,517.00 8,479.00 11,691.00 Contract Labor 4,861.00 17,651.00 3,554.58 2,432.00 0.00 Advertising 8,775.00 6,106.00 3,695.00 3,060.00 2,236.00 Wholesale/Retail Shows 31,799.00 26,534.00 9,042.00 6,534.00 7,551.00 Travel (Travel/Shows comb.) 11,809.00 6,188.00 5,528.00 Meals 2,604.00 2,612.00 2,522.00 1,334.00 2,489.00 ************************************************************************************************************* The Alaska Dyeworks story: Beth Cassidy, of Soldotna, AK, went out of state (mid 1980's) to learn about dyeing (from Debra Lunn, I believe). Anyway, she loved it and went back to Alaska and showed her friend Susan Roberts. Susan and Beth had great fun dyeing fabrics in their yard in buckets, but realized that others might love these fabrics too. With Beth's financial support, in the late 1980's, Susan decided to open a dye business...Alaska Dyeworks. A few years later (1991), Susan's life changed and she decided she wanted something else... so she sold Alaska Dyeworks to Victoria Barnett. Victoria had just been laid off by ARCO Alaska, Inc., an oil company, and she was looking for something different. Well, she loved weaving, spinning, dyeing, and quilting; and decided it would be great to get her hands on all that lovely fabric. So the decision was made to buy Alaska Dyeworks in 1992. Well, twelve years later, Victoria has decided to do something different (she accidently became a pastured poultry producer) and is now looking to sell Alaska Dyeworks so she can stay at the farm with her chickens. The story will continue with the new owner.