History
MiniScience started as project of Industrial Research Center, Inc. in November 11, 1999. At that time the company also owned and managed the website ScienceProject.com where students and teachers could find ideas and instructions for science fair projects. MiniScience was needed as a complement to the ScienceProject.com in order to offer the material and supplies needed for science projects.
Within the first five years of operation, miniscience proven to be a high potential and profitable business and can be operated as an independent entity.
On April 1st 2005 the MiniScience Inc. was incorporated as a business independent from the Industrial Research Center. This move was needed to guarantee the future growth of MiniScience. The newly formed MiniScience Inc. acquired all the tangible assets of the project (mainly product inventory and some office supplies or equipment); but not the intellectual properties such as domain names, designs, website content and rights. Industrial Research Center continued to sell website hosting and license to use the domain name and website content to MiniScience Inc. This arrangement will continue until the day that MiniScience can acquire the domain name and website contents and can maintain them independently. This arrangement is made in order to ensure the long term survival and growth of MiniScience Inc.
Purpose
This disclosure is prepared to provide transparency and share the history and financial standing of MiniScience Inc with the public, banks, providers of credit, as well as the potential investors and partners.
MiniScience owns
MiniScience assets include:
- The entire inventory of the products/ Merchandise.
- Historical product sales data and order history
- Customer list (with no rights to sell, share or use for advertisement).
- Product descriptions appeared on the online store.
- Product images appeared on the online store
- Computer, printer, tools and equipment used to process and ship the online orders.
MiniScience does not own
MiniScience does not own:
- Any building or land including the office, storage or warehouse.
- MiniScience does not own any domain name including MiniScience.com.
- MiniScience does not own any software including those used to operate the MiniScience online store.
- MiniScience does not own any direct or indirect advertising website including those used to promote MiniScience products and provide links to the MiniScience online store.
- MiniScience does not own the project guides and instructions for the MiniScience products.
MiniScience Liabilities
MiniScience liabilities include:
- Rent, property tax, utilities and basic maintenance of the office/ store/ warehouse located at 1059 Main Avenue, Clifton NJ
- Temporary additional storage rent and warehousing fees that may vary from time to time.
- Website hosting, maintenance and content management fees.
- Domain and sub-domain lease.
- Continuous online advertising fees .