Bluejay Aviation Case Study

M1

Introduction

Wren McKeemon and Brad Castanada are both Embry Riddle graduates and hold commercial

pilot certificates. Wren currently works at Worldwide International airport as an assistant to the

airport manager and in her spare time is pursuing a flight instructor certificate. Brad works for

the local FBO, Eagle One, and on his days off is learning to fly helicopters. They often meet in

Wren’s office at lunch time to discuss their future.

Scene

Wren and Brad are in Wren’s airport office overlooking the tarmac.

Wren: I don’t remember if I told you that I have recently inherited quite a nice sum of money.Now I have to figure out what to do with it.

Brad: My parents have been talking to me about money. They are willing to loan me some money if I can find a good investment.

Wren: Remember in Financial Accounting we had to find a company’s financial reports and see how it was doing?

Brad: Don’t remind me about that.

Wren: Oh, I really liked Financial Accounting. I recently heard of a reasonably new company called eMagin. I really thought that was a catchy name. Let’s look it up on my computer. First, we need to find the company’s web page. [Wren googles the company on her laptop, checks to be sure she has the actual company’s website and clicks on it.] Oh, it hasn ‘INVESTORS’ right at the top of the page. [Wren clicks on the word ‘INVESTORS.’] The financial reports can be easily found in the SEC 10K report and there it is, SEC filings on the left sidebar menu. [She clicks on the SEC filings]. I want the annual reports so I will just ask for those. [In the dropdown box, Wren chooses “annual.”] There it is, the very first item. I’ll just scroll down to Item 8, it is often halfway into the actual report. I think I remember that there are four financial statements required of all publicly traded companies, but I am just going to look at the income statement for now. Huh, there is no income statement but they do have a statement of operations. I remember...