Hellraiser’s Hellraiser’s Sport Bar, LLC Samantha, Jamie, Ashley, Angela, Margaret   May 18, 2009 ITT Technical Institute
Corporations/Business Law & Regulation Samantha Stollard :  Chief Executive Officer  May 18, 2009 ITT Technical Institute
Corporations Board of Directors: Samantha, Ashley, Jamie, Angela, Margaret Officers: Samantha, Ashley, Jamie, Angela, Margaret May 18, 2009 ITT Technical Institute
By-Laws Annual Meeting A meeting of the Shareholders will be held for the purpose of (the "Directors") the Corporation and for the purpose of doing other business as may come before the meeting. If the day fixed for the annual meeting is a legal holiday in the State of Ohio, the annual meeting will be held on the next succeeding business day or on a date determined by the board of directors for the Corporation (the "Board") that is no later than two weeks after the date specified in the meeting notice. Place of Meeting will be at any place in or out of the State of Ohio that will be determined of the discretion of the Board.  six months after the end of the Corporation's fiscal year or; b) fifteen months after its last annual meeting.  May 18, 2009 ITT Technical Institute
By-Laws Cont… Notice of Meetings will be giving 7 to 60 days before the date of the meeting to each shareholder entitled to vote. you will be able to vote electronically if you will be absent at meeting in before or after the time stated  in the notice May 18, 2009 ITT Technical Institute
Articles of Incorporation The filing Fee is $125.00 File at: Mularski, Bonham, Dittmer & Phillips, LLC 107 W. Johnstown Road  Columbus, OH 43230  (888) 416-6174   See sample  May 18, 2009 ITT Technical Institute
Stocks/State  We will have 1000 shares They will sale for 100.00 dollars a share This will give us $100,000.00 dollars more to put in the starting of the business.  The state is Ohio We live all in Ohio Able to give back to the place we grow up in May 18, 2009 ITT Technical Institute
Shareholder’s Meeting Second Wednesday of every month Voting 3 to 2 split the most vote for the issues will win The directors are the partner in the business Samantha is the inside director/manager We only have inside directors  May 18, 2009 ITT Technical Institute
Shareholder’s cont…. Shareholders will have rights to there money first  Then the directors will get the next in line The director will be in term until death or retirement  The director meets will be every Monday morning to talk about the business of the week May 18, 2009 ITT Technical Institute
Contracts and Property Will lease a space at the Easton Mall in Columbus Ohio 43219 Will lease for one year and then renew if we feel the business is doing good Sports bar will have contract with some other company like: cable company on sport channels  vendor’s of some alcohol the Ohio state team/ school  May 18, 2009 ITT Technical Institute
Contracts and Property cont…. Lease/rental agreement contents'  Property Term Rent Utilities/Services Deposit Refund Procedure Inventory Checklist The Parties Also Agree May 18, 2009 ITT Technical Institute
Ethics and Torts Jamie Hopkins :  Marketing Team May 18, 2009 ITT Technical Institute
Ethics and Torts We as a bar/restaurant got sued for negligence  This is what happened in the bar: A customer of the Hellraiser’s Sports Bar slipped and fell and sustained injuries (broken wrist, mild bruising), because of the fall.  It was raining on the night of the accident; the employees’ were not aware of the puddle of water. that had formed from customers walking in out of the bar, it was extremely busy that night.  After the incident had happened is when the employees’ noticed the puddle of water and remedied the problem.  The owner (Sam) was immediately notified after the ambulance was called for the customer and she came in right away. May 18, 2009 ITT Technical Institute
Ethics and Torts cont… After being sued for negligence, the Board of Directors (Sam, Ashley, Jamie, Angela, and Margaret) had a mandatory meeting about what had happened. The Board of Directors agreed that they needed to be something about the high traffic areas.  They used some of the money that was pure profit, and to purchase more  supplies for the bar to inform customers for their own safety in the future.  We settled out of court for his injures that he went to the hospital The bills come out of pockets to help the injure person  We was in the wrong but really didn’t know the employee didn’t put up the signs. May 18, 2009 ITT Technical Institute
Criminal Law Angela Wawrzyniak :  Marketing Team May 18, 2009 ITT Technical Institute
Criminal Law Underage Drinking at the Bar and a teenage gets behind the vehicle and hits someone on the way home and kills them.  On May 1, 2009 at 3:00 AM a local Columbus Police Officer was rushed to a seen of an accident to find a teenager drunk in one car with her friends alive and  awake but the other two sisters were killed in the other car.  May 18, 2009 ITT Technical Institute
Criminal Law Cont…. The parents had found out the two sisters were killed by a teenager who just came from a bar, that the bar knew they were drunk and let them drive.  The One driver had went to court and they had a sentence in the beginning of a aggravated vehicular homicide, violations of R.C. and the end result was charged with a involuntary manslaughter conviction.  May 18, 2009 ITT Technical Institute
Business Law and Regulation Ashley Davis:  Chief Operating Officer & Margaret Renner:  Research Development Team May 18, 2009 ITT Technical Institute
Business Law and Regulation Sarbanes-Oxley Act Was passed by the U.S. House of Representatives in 2002 and took effect in 2004. The Purpose: To keep big businesses from financial frauds and misleading their investors and shareholder. The Sarbanes-Oxley Act-Bans personal loans to directors or executives. Our company follows this rule. Sarbanes-Oxley Act is mandatory, all businesses small or large MUST comply It was enforced in 2002 and was arranged into 11 titles The most important sections of the compliance are: 302, 401, 404, 409, 802   May 18, 2009 ITT Technical Institute
Business Law and Regulation Cont…. Sarbanes-Oxley Act The corporate officer responsibility for financial reports and tax returns: Every quartile and annual report has to be reviewed by the corporate officer. A statement that discloses that the corporate officer has reviewed the financial reports and tax returns. they do not contain false information and know mistakes has to be singed by the corporate officer. Officers are responsible for establishing and maintaining disclosure controls and procedures. Controls are to ensure that material information is know to the officers and is related to the company. May 18, 2009 ITT Technical Institute
Business Law and Regulation Cont….. Evidence Tampering An attempt or physical alters, destroys, or conceals of a record, document, or other object, with the intention to impair it or make it unavailable to use will result in a fine or imprisoned not more than 20 years, or both do to the Sarbanes-Oxley Act Title XI (18). May 18, 2009 ITT Technical Institute
Business Law and Regulation Cont….. Under the Code of Ethics for senior financial officers   Only financial officers, personal accounting officers, or persons performing a similar function are able to perform financial duties. Therefore, if the company must restate its financial statement due to lack of compliance with financial reporting requirements.  The senior financial officer, the head of the financing department, will prepare it and the financial statement must be reviewed and signed off on by the corporate officer before being submitted.  May 18, 2009 ITT Technical Institute
Any Question ???? Thank you very much for your time today.  May 18, 2009 ITT Technical Institute

Hellraiser’S Final Project

  • 1.
    Hellraiser’s Hellraiser’s SportBar, LLC Samantha, Jamie, Ashley, Angela, Margaret May 18, 2009 ITT Technical Institute
  • 2.
    Corporations/Business Law &Regulation Samantha Stollard : Chief Executive Officer May 18, 2009 ITT Technical Institute
  • 3.
    Corporations Board ofDirectors: Samantha, Ashley, Jamie, Angela, Margaret Officers: Samantha, Ashley, Jamie, Angela, Margaret May 18, 2009 ITT Technical Institute
  • 4.
    By-Laws Annual MeetingA meeting of the Shareholders will be held for the purpose of (the "Directors") the Corporation and for the purpose of doing other business as may come before the meeting. If the day fixed for the annual meeting is a legal holiday in the State of Ohio, the annual meeting will be held on the next succeeding business day or on a date determined by the board of directors for the Corporation (the "Board") that is no later than two weeks after the date specified in the meeting notice. Place of Meeting will be at any place in or out of the State of Ohio that will be determined of the discretion of the Board. six months after the end of the Corporation's fiscal year or; b) fifteen months after its last annual meeting. May 18, 2009 ITT Technical Institute
  • 5.
    By-Laws Cont… Noticeof Meetings will be giving 7 to 60 days before the date of the meeting to each shareholder entitled to vote. you will be able to vote electronically if you will be absent at meeting in before or after the time stated in the notice May 18, 2009 ITT Technical Institute
  • 6.
    Articles of IncorporationThe filing Fee is $125.00 File at: Mularski, Bonham, Dittmer & Phillips, LLC 107 W. Johnstown Road Columbus, OH 43230 (888) 416-6174 See sample May 18, 2009 ITT Technical Institute
  • 7.
    Stocks/State Wewill have 1000 shares They will sale for 100.00 dollars a share This will give us $100,000.00 dollars more to put in the starting of the business. The state is Ohio We live all in Ohio Able to give back to the place we grow up in May 18, 2009 ITT Technical Institute
  • 8.
    Shareholder’s Meeting SecondWednesday of every month Voting 3 to 2 split the most vote for the issues will win The directors are the partner in the business Samantha is the inside director/manager We only have inside directors May 18, 2009 ITT Technical Institute
  • 9.
    Shareholder’s cont…. Shareholderswill have rights to there money first Then the directors will get the next in line The director will be in term until death or retirement The director meets will be every Monday morning to talk about the business of the week May 18, 2009 ITT Technical Institute
  • 10.
    Contracts and PropertyWill lease a space at the Easton Mall in Columbus Ohio 43219 Will lease for one year and then renew if we feel the business is doing good Sports bar will have contract with some other company like: cable company on sport channels vendor’s of some alcohol the Ohio state team/ school May 18, 2009 ITT Technical Institute
  • 11.
    Contracts and Propertycont…. Lease/rental agreement contents' Property Term Rent Utilities/Services Deposit Refund Procedure Inventory Checklist The Parties Also Agree May 18, 2009 ITT Technical Institute
  • 12.
    Ethics and TortsJamie Hopkins : Marketing Team May 18, 2009 ITT Technical Institute
  • 13.
    Ethics and TortsWe as a bar/restaurant got sued for negligence This is what happened in the bar: A customer of the Hellraiser’s Sports Bar slipped and fell and sustained injuries (broken wrist, mild bruising), because of the fall. It was raining on the night of the accident; the employees’ were not aware of the puddle of water. that had formed from customers walking in out of the bar, it was extremely busy that night. After the incident had happened is when the employees’ noticed the puddle of water and remedied the problem. The owner (Sam) was immediately notified after the ambulance was called for the customer and she came in right away. May 18, 2009 ITT Technical Institute
  • 14.
    Ethics and Tortscont… After being sued for negligence, the Board of Directors (Sam, Ashley, Jamie, Angela, and Margaret) had a mandatory meeting about what had happened. The Board of Directors agreed that they needed to be something about the high traffic areas. They used some of the money that was pure profit, and to purchase more supplies for the bar to inform customers for their own safety in the future. We settled out of court for his injures that he went to the hospital The bills come out of pockets to help the injure person We was in the wrong but really didn’t know the employee didn’t put up the signs. May 18, 2009 ITT Technical Institute
  • 15.
    Criminal Law AngelaWawrzyniak : Marketing Team May 18, 2009 ITT Technical Institute
  • 16.
    Criminal Law UnderageDrinking at the Bar and a teenage gets behind the vehicle and hits someone on the way home and kills them. On May 1, 2009 at 3:00 AM a local Columbus Police Officer was rushed to a seen of an accident to find a teenager drunk in one car with her friends alive and awake but the other two sisters were killed in the other car. May 18, 2009 ITT Technical Institute
  • 17.
    Criminal Law Cont….The parents had found out the two sisters were killed by a teenager who just came from a bar, that the bar knew they were drunk and let them drive. The One driver had went to court and they had a sentence in the beginning of a aggravated vehicular homicide, violations of R.C. and the end result was charged with a involuntary manslaughter conviction. May 18, 2009 ITT Technical Institute
  • 18.
    Business Law andRegulation Ashley Davis: Chief Operating Officer & Margaret Renner: Research Development Team May 18, 2009 ITT Technical Institute
  • 19.
    Business Law andRegulation Sarbanes-Oxley Act Was passed by the U.S. House of Representatives in 2002 and took effect in 2004. The Purpose: To keep big businesses from financial frauds and misleading their investors and shareholder. The Sarbanes-Oxley Act-Bans personal loans to directors or executives. Our company follows this rule. Sarbanes-Oxley Act is mandatory, all businesses small or large MUST comply It was enforced in 2002 and was arranged into 11 titles The most important sections of the compliance are: 302, 401, 404, 409, 802 May 18, 2009 ITT Technical Institute
  • 20.
    Business Law andRegulation Cont…. Sarbanes-Oxley Act The corporate officer responsibility for financial reports and tax returns: Every quartile and annual report has to be reviewed by the corporate officer. A statement that discloses that the corporate officer has reviewed the financial reports and tax returns. they do not contain false information and know mistakes has to be singed by the corporate officer. Officers are responsible for establishing and maintaining disclosure controls and procedures. Controls are to ensure that material information is know to the officers and is related to the company. May 18, 2009 ITT Technical Institute
  • 21.
    Business Law andRegulation Cont….. Evidence Tampering An attempt or physical alters, destroys, or conceals of a record, document, or other object, with the intention to impair it or make it unavailable to use will result in a fine or imprisoned not more than 20 years, or both do to the Sarbanes-Oxley Act Title XI (18). May 18, 2009 ITT Technical Institute
  • 22.
    Business Law andRegulation Cont….. Under the Code of Ethics for senior financial officers Only financial officers, personal accounting officers, or persons performing a similar function are able to perform financial duties. Therefore, if the company must restate its financial statement due to lack of compliance with financial reporting requirements. The senior financial officer, the head of the financing department, will prepare it and the financial statement must be reviewed and signed off on by the corporate officer before being submitted. May 18, 2009 ITT Technical Institute
  • 23.
    Any Question ????Thank you very much for your time today. May 18, 2009 ITT Technical Institute