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Financing overview doughnut charts 19011

Sources and uses of financing

The chart on the left (above) shows where the resources came from to cover expenses in excess of income from 1 January 2017 through the completion of the current capital campaign (expected to be February or March of 2019).


The graph on the right shows how we will deploy the funds from the current capital campaign to complete our transition from start-up to profitable operation. 

They are each described in detail below.

Sources of financing, 1 January 2017 - February 2019

Financing sources 2017-19 no heading.jpg

To cover expenses that exceeded operational income, the company obtained financing in the form of loans, shares purchased by cash, and shares issued in exchange for goods and services, as follows:

Sources of funds table.png

Uses of funds raised in current capital campaign

Financing uses - 2019 cap campaign - no

The allocations of the financing proceeds are planned to maximize the company's ability to achieve profitability on an operational basis, as described on the profitabilty page of this website. 

The uses fall into two general categories.

  1. The majority of the expenditures are in effect pre-payment of expenses directly related to the academic operations for future quarters.

  2. The remaining uses will pay expenses accrued in previous periods but which are necessary to settle so the company can continue its operations without interference from legal or regulatory claims. 


The following table groups the uses by category:  

Uses of funds table - horizontal.png



1.  All financial results indicated on this website are preliminaries based on our internal records. One use of the proceeds of the current capital campaign will be for US accountants to review and revise the accounts according to international standards and to consolidate (for tax purposes) the financial results of the US and Congolese entities.

2.  These charts show a consolidated view of Congo American SARL (DRC entity) and Congo American LC (US entity).


3.  No separate accounting was done for the non-profit Congolese entity Accel Academies of Congo ASBL, but it will be done starting in 2019.

4.  The forgoing discussion of sources does not include significant funds and effort invested prior to 2017 to establish a base of operations and contacts in the DRC, which value accrued to the benefit of the company and is reflected in the founders' equity holdings. 

Accel Academies of Congo ASBL is a non-profit educational organization supported by Congo American, a for-profit administrative services company. 

©  2019 Congo American LC

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