Project Due-Diligence Requirements

The Midland Development Corporation requests the following financial and other data for Project Consideration and Due-Diligence:

A.  Completion of Application for Investment by prospect.

B.  Legal entity and organization documents applying for investment - C Corporation or LP, etc.

C.  Public Company information desired:

1. Three years of financial statements including Form 10-K and Forms 10-Q for the two most recent years.
2. Promotional Materials, News Releases
3. D&B report
4. Credit reference
5. Certificate of Good Standing

D. Private Company Information Desired: 
1. Ownership percentage breakdown
2. Resume of principal owner(s)
3. Credit reports on principal owner(s)
4. Three years of audited financial statements prepared in accordance
    with generally accepted accounting principles (GAAP)
5. Personal guarantee of principals on large investments
6. Personal references
7. Bank references
8. Current federal and state tax returns
 

E. Business Plan with three to five year projections showing cash flow, debt requirements and expected debt service. Plan to include project description and FTE jobs created and Performance Benchmarks.

F. Financial Review Committee will be formed to review financial information provided.

G. Investment of $1 million or more will require audited financial statements.

H. MDC may sign Confidentiality Agreement with prospects.

To download a print version of Midland's Due-Diligence Requirements click here.