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• INK WIZARDS, INC. <br /> BUSINESS DESCRIPTION/PLAN <br /> February 19, 1998 <br /> 1. Description of Business <br /> Ink Wizards is a contract screen printing, embroiderya d em em digitizing company. <br /> 1997 sales were just under $500,000. We currently rent abou 2,500 q ft. in Elk River. In <br /> addition to the two owners, we currently employ five full tim and even part time employees. <br /> 2. Ownership <br /> Ink Wizards is an S Corporation owned and operated by the husband and wife team of Jim <br /> and Wanda Storie, residents of Elk River. <br /> 3. Management <br /> Under the structure of the S Corporation, Jim Storie is the President and Wanda Storie is <br /> the Secretary/Treasurer. There are currently no other officers. <br /> 4. Date established <br /> • Since the business originated as a home based, part time entity, it is difficult to establish an <br /> age of the business. Wanda has been employed full time in the business for 6 years, Jim for 5 years <br /> and we have been renting space at our current location for over 4 years. <br /> 5. Products/Services <br /> Ink Wizards provides the total array of services required to produce customized screen <br /> printing and embroidery on a variety of substrates for our customers. We also provide the <br /> computerized programs needed to run embroidery equipment (digitizing) for our embroidery <br /> customers who do not digitize their own programs. We currently have 13 embroidery heads, 3 <br /> digitizing stations and 2 manual screen printing presses. We also do all artwork in house. We have <br /> just purchased a computerized cutter which will allow us to offer sign, banner and decal services. <br /> 6. Future plans <br /> Our most immediate objective is to expand our physical plant. Current growth and the <br /> evolving nature of our business has made our current space too small and totally unsuitable. <br /> Once we have a new plant designed for our needs and with adequate capacity, we intend <br /> to expand our services into areas we currently must ignore. The primary area of new revenue <br /> • would be the high volume screen printing market. The equipment required (an automatic screen <br /> printing press, air compressor and miscellaneous support equipment)will not fit into our current <br />