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Lake State Recycling <br />Lake State recycling was founded by Chris Baumgardt and Harley Hanson. Lake State Recycling was <br />formally PC Smashers a sole proprietorship that Chris purchased in 2006. Since purchasing PC Smashers <br />in'06 recycling has experience extreme growth causing demand to skyrocket. In April of 2009 Harley <br />Hanson was hired by PC Smashers. Harley has a 15 year background in recycling. In April of'09 Harley <br />sold his shares to a company that he started out of a 2000 square foot warehouse in Rogers, MN. At the <br />time of sale roughly 15 years later Integrated Recycling employed over 40 people operating out of 2 <br />buildings and was experiencing gross sales in excess of $35,000,000 annually. <br />The primary goal of lake State Recycling is to continue to harness the fast pace demand of the e- <br />recyclingindustry, also to expand in other facets of the recycling industry. In order to accomplish our <br />next goal, we need a larger facility and more employees. We recently stumbled across a "joint lease" <br />venture with Trindent Polymers. We have done preliminary research and we are very pleased with the <br />location of the building in Elk River. Elk River offers our company a lot of growth potential. <br />Our core business plan consists of providing large scale disposal of e-waste. E-waste on a commercial <br />level consists of individual work stations, server equipment and all peripherals that have a cord <br />essentially. The following are the steps we take to process the a-scrap once we have received it at our <br />facility. <br />The e-scrap is transported via semi truck and is delivered to our ware house. Once the material is on <br />site we take a complete inventory of the electronics that we received. After the product is staged and <br />cataloged it will be put on the schedule for dismantling. We currently have 2 employees dedicated to <br />this particular process. As our dismantlers tear down the product it is segregated into several <br />categories. We separate the following commodities, steel, gold bearing circuit boards, non-ferrous and <br />plastic. Steel roughly makes up about 60% of our recycled commodities. We will generate roughly 2- 30 <br />yard containers per week. The containers will need to be outside. The other main ingredient is the <br />circuit board. There are several types of circuit boards. They range in value in accordance to how much <br />gold was use to manufacture them. We have roughly 12 different categories for our boards. As we <br />separate the boards they are prepped and staged for several refiners that we deal with. As we achieve <br />our desired quantities we will then set up appointments and schedule shipping to specific refiners in <br />order to optimize our return. The non-ferrous metals are any metal that a magnet will not be attracted <br />to. Non-ferrous metals consist of all types of aluminum, copper, brass and stainless steel. In our <br />business you get better value by segregating all the metals and having them packaged in accordance to <br />the mills specifications. One of the expansions of our business we would like to do once we take <br />possession is to buy non-ferrous metals from local machine shops, automotive repair shops, electrical <br />contractors, public utilities and any potential walk in customer. The final step in our a-scrap process is <br />to process and market the plastic that are generated. Plastics are another avenue for us. There are very <br />few domestic consumers of plastic. Lake State and Trindent Polymers are working together to offer a <br />