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This company was founded while in high school. We produced serigraphic posters and printed T-shirts etc. We constructed our own equipment and did our own art work as well as bookkeeping and marketing. We operated at a profit, and enjoyed the learning experience. Upon graduation we divided the assets and disbanded the company.
Existing in name only, this company was disbanded as soon as it started. I was given the opportunity to fish in Alaska aboad a purse seiner, and returned south to continue my schooling in another city. There were no assets to divide, and I include it here only to show a consistent desire to be self employed.
Originally a partnership with Braget, Sweeney was added after development of the original circuits. We designed and produced printed circuits still in use today at many Burger King resturants. We derived little income for the work, but learned a great deal about manufacturing and electronics. My partners and I divided our few assets after I began working with Mr. Eggan on his plastics project. They were unwilling to continue on their own and gave me permission to continue to manufacture of circuit boards. Mr. Sweeney and I co-founded the Olympia Conservatory years later. Mr. Braget still drops by with computer code a few times a month.
While working as a 'partner' in this business, I had no capital invested in this company. To this day I have not been paid for those many hours of work, except in the proving my abilities. I was responsible for the design of parts and molds and packaging. After working on an unsucessfully marketed project of Mr. Eggan's, I held out for co-ownership before proceeding to design further parts. This led directly to the creation of the next company, Delphi O.E.M. Co.
I was a full partner in this business. To reach this status, I remitted 60% of my (50% share of the company's) income to Mr. Eggan until our capital accounts were equal. In addition my projects and tools were incorporated into the company. We continued to produce printed circuits from Robot Company designs. Designed and marketed diving valves. Designed plastic parts and molds. Machined and built thermoplastics injection molds. We were sucessfully producing a moderate income when Mr. Eggan thought he would again like to be a sole proprietor and requested we dissolve the company. I bought him out at great expense. He produced a heavy copy (which did not sell) on equipment nearly identical to that which we already had. He is no longer in business.
I had no funding when I assumed the role of sole proprietor of this company. I had not established any ability to borrow and found that in the next few years, my efforts to make a profit were counteracted by the high cost of producing parts on the equipment which Mr. Eggan had originally purchased. The molding machine which had been purchased by Mr. Eggan was now employed to run 24 hours a day, 7 days a week. Machinists were hired to make the molds I designed and sold. This operation running a peak production was not able to make a consistent and steady profit. After several years, my debt had increased. I downsized the company (during which time I experienced major thefts and vandalism from disgrunteled employees.) I still manufacture and sell valves to one company (my oldest client.) The other potential customers are past customers, and I expect they are still interested in the world's best valve. I have produced many molds and could make a very good profit with the correct equipment. During these ensuing years I have added to my knowlege and skills in several fields. I have taught Classic Guitar at TESC, designed an instrument, machined parts for a local ultralight aircraft mfg. co. I am ready to bring these new ideas to production, given the proper equipment and facilities. I will begin with a time tested product (valves) and take advantage of the great speed at which it may be made with standard molding machines rather than the Morgan-Press I am currently using. I await financing at present. I have taken advantage of the internet and begun advertising and publishing. While most projects will require a big advertising push to educate the public, my valves are a known and proven generic standard.