CREATING IDEAS FOR TOMORROW’S DREAM
(WHAT YOU SHOULD KNOW)
STATE OF THE FIRM, MARCH 2014
Many have ask about this profile and indeed since 2011, when Hyattractions system enter wordpress, its profile and ranks have sore high.
Hyattractions system is a business firm involve in online resources and internet services. It is an online and offline business firm located in Port Harcourt, Rivers state. It deals on online resources and internet services. Its business ventures include consultancy, Forex trading, online soccer betting, online resources and internet services.
It was established after the dissolution of VALLINKS INTEGRATED SERVICES in 2007. By March 2008, it started limited operation. However by March 2011 it was posted live on the internet. The following year, it enters into agreement with JOECRACK CONCEPT and become fully operational by JANUARY 8TH 2013.
The firm is an entrepreneur outfit (sole proprietorship) but it is run in accordance with organizational structure and channels. It is run by the Director of Operations-VALENTINE CHIDOZIE UWAKWE, a graduate of Geography & Environmental Management. It structural caddle includes, the General Manager, Director of communications, Director of Finance, Director of protocols.
The firm is divided into the following divisions which is control by a central working council.
The official business motto for our organization is CREATING IDEAS FOR TOMORROW’S DREAMS.
Yellow, Green and Red.
We believe in fair and genuine transactions of our dealing with our numerous clients and customers.
BUSINESS FLAG AND SEAL
The seal of Hyattractions system is the PYRAMID with our motto: creating Ideas for tomorrow’s dreams in latin at the bottom of the pyramid base. The flag has a plain white background with a small pyramid in the middle (cut in strips by the yellow, red and green lines)
To become the leading online resources and internet service centre on campus by becoming known for the services we render our numerous clients and customers.
To provide our numerous clients and customers online resources and internet services that are of rich and quality content in a customer friendily condition and competitive price.
The following are the available means to reach us;
Shop 31, Choba shopping complex, Choba/uniport, Port Harcourt, Rivers State.
The firm has three basic cardinal point which entails;
* Customer first and their interest,
* Quality and satisfactory services and
* Revenue Generation
Hyattractions system is divided into various divisions which are spelt out briefly below;
This is the department responsible for all internet services ranging from online registration to students related issues on campus.
ACADEMIC /RESEARCH WING:
This is the department responsible for handling all academic and research work or programme involving the general public, especially students and scholars.
ONLINE SOCCER BETTING:
This is the online soccer betting department that includes Forex trading, Binary options, sales of Ebook and promotion of Referrel links. It is currently seen as the biggest revenue earner for the firm.
OFFLINE DIVISION (CONSULTATION):
This is the department that is offline (not internet base).it involves a wide range of consultations especially for students and the academician.
ISLAND RESOURCES Incorporated
This is the newest creation of the firm as it intends to use this division to venture into the major world in term of profit oriented business. It would handle the major areas of Management, Environment, Geography, Aviation, Oil and Gas, Transport, supermarket, butequtte collections and General Mercantile.
The approve official currency recognized is the US dollars $, but for transactional needs the Nigerian Naira is used. However in all our reports and end of the year formats, we calculate in US dollars.
The Total staff strength of the firm is put at seven (7) all in the payroll list.
The average worker earn between $4-6 dollars, totaling $100-120 monthly.
There daily feeding is taken care of during Mondays and Fridays
Some staffs are exempted from weekend duties but the Operations and General Manager are bound to come only for a short while of between 9am-4pm.
In financial accounting, an asset is an economic resource. Our greatest asset is our intellectual properties and intelligence in the industry.
Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive it is money and other valuables belonging to an individual or business. This includes two laptops, three desktops, one multipurpose printer and a small Generator. Plans are underway to expand on all this asset soonext in order to boast daily generated income.
Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle (whichever is longer), without disturbing the normal operations of a business. These assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets:
1. Cash and cash equivalents — the firm has a current account and a domiciliary account with SKY BANK. Other Banks account are in savings and are spread among top banks namely UBA, GT bank, Access Bank, FCMB (online banking).
2. Short-term investments — include our domiciliary account used for short term savings.
3. Receivables — usually reported as net of allowance for noncollectable accounts.
4. Inventory — trading these assets is a normal business of a company.
5. Prepaid expenses — these are expenses paid in cash and recorded as assets before they are used or consumed (common examples are insurance or office supplies).
Often referred to simply as “investments”. Long-term investments are to be held for many years and are not intended to be disposed of in the near future. This group usually consists of three types of investments:
1. Investments in securities such as bonds, common stock, or long-term notes.
2. Investments in fixed assets not used in operations (e.g., land held for sale).
3. Investments in special funds (e.g. sinking funds or pension funds):A pension scheme will be opened in 2015.
N.B. the firm presently, does not have an insurance policy in place. As our investment is currently spread on all our departments which will last for a period of 2years. (2013-2015).
Also referred to as PPE (property, plant, and equipment), these are purchased for continued and long-term use in earning profit in a business. This group includes as an asset land, buildings, machinery, furniture, tools, IT equipment, e.g., laptops, and certain wasting resources e.g., timberland and minerals.
What is usually seen as fixed asset in our firm are;
Printing papers, refill inks, ink cartridges, flash drives, power packs, fuel, tissues, internet subscriptions, modems, laptops and desktops, printers, electrical gadgets, etc.
A company’s legal debts or obligations that arise during the course of business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services. Liabilities include loans, accounts payable, mortgages, deferred revenues and accrued expenses. Liabilities are a vital aspect of a company’s operations because they are used to finance operations and pay for large expansions. They can also make transactions between businesses more efficient. Outside of accounting and finance this term simply refers to any money or service that is currently owed to another party.
Current liabilities are debts payable within one year, which is stood at N…, ……..while long-term liabilities are debts payable over a longer period. We have none. The hanging liability ranges from annual rents, staff salaries, operational and maintenance cost.
The firm operational cost at inception was on the high side reaching a record high of $40 in December 2013. It has however been reduce as revenue has continue to float around $50-70 per day. The inability to maintain a steady figure is due to a lot of issues which need to be address ranging from upgrading of most internet gadgets and office equipment. Thus we are soliciting for funds in the tune of $2000 to upgrade most facilities. If this is attained, we are sure to meet our presumed daily target of $130 per day (minus expenses).
END OF THE YEAR SUMMARY
The firm is bound to produce an end of the year summary report subject to approval by it working council. It is usually published annually for the general public to see.
It has been outline in our mission statement and our motto. We plan to attain a record breaking feat before 2016 base on our medium term plan. We believe we can do this but not only if we have your continued support, loyalty and patronage and the Almighty God on our side. success for Hyattractions systems is sure to be a reality!
AWARDS AND ATTAINMENTS
Despite our limited range of equipment and short time in campus internet activities, we have been able to beat our imaginations. We thank you our numerous clients, customers, students, scholars and the general public for having such faith in us. We promise to do more. Some of awards and achievements speak for it.
1. FASTEST GROWING ENTREPRENUER ON CHOBA CAMPUS:
With a month of our office roll out in choba, we were given this award as we beat so many people’s expectation to occupy the position we are today.
2. CUSTOMER FRIENDLY RELATIONS/ATMOSPHERE:
We have carved a name for selves as we position our organization as the friendliest firm on choba campus. No wonder, customers say at Hyattractions system, there is never a dull moment.
3. QUICKEST CUSTOMER BASE:
We were even surprise as within three week of our office roll outs we amass a huge customer base that flock to us for our quality work.this we have constantly maintained by opening a customer diary and getting in touch with all during festival periods.
4. SEARCH ENGINE AWARD:
We surpass all in the industry here in choba/uniport when our eye catching blog (www.hyattractions.wordpress.com) was ranked 1,005,342 in the world on search engine with Google. That same month, Google sent us a welcome message to join their adsense program while waiting the confirmation of our website at http://www.hyattractions.net.
5. HIGHEST NUMBER/BEST OF ARTICLE(S):
Till date, among bloggers in Port Harcourt axis of Nigeria, we were adjudge with the blog with the highest number of qualitative article….as of March 2014, we have published a total of 2,294 articles and three of such won best article awards for months consecutively. They are; ACCOUNTING CONCEPTS AND CONVENTION, ONLINE SOCCER BETTING FOR BEGINNERS OR STARTERS, ONLINE SOCCER BETTING, THE HIDDEN FACTS AND AMERICA/BRITAIN IN PROPHECY. Daily, their readership sours above 1,000.
6. BLOG OF THE MONTH:
Our organization blog was launch in March 11, 2011 and in 2013, for four straight consecutive months (March-June2013), our blog http://www.hyattractions.wordpress.com won the blog of the months with wordpress.com.
TECHNICAL COOPERATION AND PARTNERSHIP
In order to effectively manage and maintain our position as an online resource and internet service station, we have deem it necessary and of importance to enter into an alliance or co operational partnership with some other leading firm on campus. On these sister firm, our partnership is solid as we are free to do any online resource work or print out documents at no cost. We see them as partner, rather than competitors and by all standards a leading firm. These include;
* JOECRACK CONCEPTS
* SETTO RESOURCES
* RICHIE TECHNOLOGIES
* ST. MICHAELS
* RHEMAZICO CONCEPT INTERNATIONAL.