BICOL COLLEGE, Inc.

Cor.JP Rizal & Tabuena Sts., Sagpon

Daraga, Albay

COMPLIANCE CERTIFICATION
PROPOSAL DEFENSE

Panel Suggestions/Recommendations Action Taken Page Number

Prof. Johnell Terms of the usage of the land. Complied 29
Ortiz
Proforma of Articles of Incorporation. Complied 70
The price of the order, transfer of Complied Appendixes
pricing of manufacturing from the
farm.
Chapter VI- Total project Complied 85
cost,Financial assumption,working
capital-for how many hours, increase in
salaries-for how many percent.
The terms of ownership. Set up of land Complied
Show the breakdown of working Complied
capital
Put the manufacturing plant in farm. Complied 27
Allocate another fund to build the store. Complied 85
Fix the organizational chart Complied 40
Prof. Anna Marie Separate the Estimated project cost for Complied 85
Lomenario pili nut farm from the estimated project
cost
Measurements for floor plan and Complied 30-31
building lay out; labels
 Agreement between landowners and Complied
corporation

Estimated project costs Complied 85

Ms. Shella C. Check the format of the references Complied Checked
Esclares

Prepared by:

LLOYD V. LONOSA
Proponents

RICHARD E. VICTORIA
Proponents

ALFREDO L. SALLAN, CPA, MPM

Adviser

ANNA MARIE LOMENARIO, CPA SHELLA C. ESCLARES

Member ` External Panel

JOHNELL S. ORTIZ, CPA

Chairman
Articles of Incorporation and By-laws

ARTICLES OF INCORPORATION
Articles of Incorporation
Of
GLAZED PILI CORPORATION
The undersigned incorporators, all of legal age, have voluntarily agreed to form a
(stock) (nonstock) corporation under the laws of the Republic of the Philippines and certify
the following:

FIRST: That the name of said corporation shall be “ Glazed Pili Corporation
SECOND: That the purpose or purposes for which such corporation is incorporated:
To generate income and add value to stockholder’s equity;
Provided that the corporation shall not solicit, accept or take investments/placements
from the public neither shall it issue investment contract.
THIRD: That the principal office of the corporation is located in the City/Municipality of
Daraga, Province of Albay, Philippines;
FOURTH: That the corporation shall have perpetual existence from the date of
issuance of the certificate of incorporation;
FIFTH: That the names, nationalities, and residence addresses of the incorporators of the
corporation are as follows:

Name Nationality Residence

1) Richard Victoria Filipino Philippines

2) Lloyd Lońosa Filipino Philippines

3) Renato Victoria Filipino Philippines

4) Rizal Victoria Filipino Philippines

5) Ronald Notario Filipino Philippines

6) Ryan Kristoffer Lee Filipino Philippines

 7) Gian Carlo Angeles Filipino Philippines

8) Jan Jim Reyes Filipino Philippines

SIXTH: That the number of directors or trustees of the corporation shall be five (5) ; and the
names, nationalities, and residence addresses of the first directors or trustees of the corporation
are as follows:

Name Nationality Residence

1) Renato Victoria Filipino Philippines

2) Gian Carlo Angeles Filipino Philippines

3) Jan Jim Reyes Filipino Philippines

4) Ryan Kristoffer Lee Filipino Philippines

5) Rizal Victoria Filipino Philippines

SEVENTH: That the authorized capital stock of the corporation is Thirty Million Pesos (P
35,000,000) in lawful money of the Philippines, divided into 350,000 shares with the par value
of one hundred pesos (100.0) per share;

EIGHTH: That the number of shares of the authorized capital stock above-stated has been
subscribed as follows:
Name of Nationality No. of Shares Amount Amount Paid
Subscriber Subscribed Subscribed
1. Gian Carlo Angeles Filipino 40,000 4,000,000 2,500,000

2. Ryan Kristoffer Lee Filipino 40,000 4,000,000 2,500,000

3. Jan Jim Reyes Filipino 40,000 4,00,0,000 2,500,000

4. Rizal Victoria Filipino 62,800 5,780,000 2,445,000

5. Renato Victoria Filipino 31,400 3,140,000 785,000

6. Ronald Notario Filipino 62,800 5,780,000 2,445,000

7 Richard Victoria Filipino 5,000 500,000 125,000

8 Lloyd Lońosa Filipino 5,000 500,000 125,000

TOTAL 277,000 27,700,000 13,425,000

NINTH: That Delia Victoria has been elected by the subscribers as Treasurer of the
Corporation to act as such until after the successor is duly elected and qualified in accordance
with the bylaws, that as Treasurer, authority has been given to receive in the name and for the
benefit of the corporation, all subscriptions, contributions or donations paid or given by the
subscribers or members, who certifies the information set forth in the seventh and eighth
clauses above, and that the paid-up portion of the subscription in cash and/or property for the
benefit and credit of the corporation has been duly received.

TENTH: That the incorporators undertake to change the name of the corporation immediately
upon receipt of notice from the Commission that another corporation, partnership or person has
acquired a prior right to the use of such name, that the name has been declared not
distinguishable from a name already registered or reserved for the use of another corporation,
or that it is contrary to law, public morals, good customs or public policy.
Eleventh: (Corporations which will engage in any business or activity reserved for Filipino
citizens shall provide the following):
“No transfer of stock or interest which shall reduce the ownership of Filipino citizens to less
than the required percentage of capital stock as provided by existing laws shall be allowed or
permitted to be recorded in the proper books of the corporation, and this restriction shall be
indicated in all stock certificates issued by the corporation.”
IN WITNESS WHEREOF, we have hereunto signed these Articles of Incorporation, this
day of , 20 in the City/Municipality of
, Province of , Republic of the Philippines.

RICHARD VICTORIA DELIA VICTORIA GIAN CARLO ANGELES

JAN JIM REYES RENATO VICTORIA

LLOYD LOÑOSA RYAN KRISTOFFER LEE RONALD NOTARIO

(Names and signatures of the incorporators)

(Name and signature of Treasurer)

 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

BEFORE ME, a Notary Public, for and in___________________________,

Philippines, this________________day of________________, 2021_____________,

Personally appeared the following persons.

Name Tin/ID/Passport No. Date and Place Issued

known to me and to me known to be the same persons who executed the foregoing Articles of
Incorporation constituting, including this page where the acknowledgement is written, and the
acknowledge to me that the same is their free act and voluntarily deed.
WITNESS MY HAND AND SEAL on the day first above-written
 NOTARY PUBLIC

Doc. No. _________

Page No. _________
Book No._________
Series of__________ yhb6
BY-LAWS
of

GLAZED PILI NUT CORPORATION

(Name of Corporation)

I. THE TIME, PLACE AND MANNER OF CALLING AND CONDUCTING

REGULAR OR SPECIAL MEETINGS OF THE DIRECTORS.

A. Regular meetings of the board of directors of the corporation shall be held every

first Monday of the month.

B. Special meetings of the board of directors may be held at any time upon the call

of the chief executive officer or as provided for in the by-laws

C. Meetings of directors may be held anywhere in or outside of the Philippines,

unless the by-laws provide otherwise. Notice of regular or special meetings stating the

date, time and place of the meeting must be sent to every director or trustee at least

one (1) day prior to the scheduled meeting. Unless otherwise provided by the by-laws.

A director may wave this requirements, either expressly or impliedly.

II. THE TIME AND MANNER OF CALLING AND CONDUCTING REGULAR

OR SPECIAL MEETINGS OF THE STOCKHOLDERS

A. Regular or annual meetings of stockholders shall be held annually on every first

Monday on September.

B. Written notice of regular meetings shall be sent to all stockholders of record at

least two (2) weeks prior to the meetings, unless a different period is required by

the by-laws.

C. Special meetings of stockholders shall be held at any time deemed necessary or as provided

in the by-laws.

D. Written notice of special meetings shall be sent to all stockholders at least one

week prior to the meeting, unless a different period is required by the by-laws.

E. Stockholders’ meeting, whether regular or special, shall be held in the city or

municipality where the principal office of the corporation is located, and if

practicable in the principal office of the corporation. Metro Manila shall, for

the purpose of this provision, be considered city or municipality.

III. THE REQUIRED QUORUM IN MEETINGS OF STOCKHOLDERS

A. The required quorum in meetings of stockholders shall consist of stockholders

IV. THE FORM FOR PROXIES OF STOCKHOLDERS AND THE MANNER OF

VOTING THEM.

A. Stockholders may voter in person or by proxy in all meeting of stockholders.

Proxies shall be in writing, signed by he stockholders and filed before the

Scheduled meeting with he corporate secretary. Unless otherwise provided

In the proxy, it shall be valid only for the meeting for which it is intended. No

proxy shall be valid and effective for a period longer than five (5) years at any

one time.

V. THE QUALIFICATIONS, DUTIES TERM AND COMPENSATION OF

DIRECTORS.

A. No person convicted by final judgement of an offense punishable by

imprisonment for a period exceeding six (6) years, or a violation of this Code,

committed within five (5) years prior to the date of his election shall qualify as

a director must own at least one (1) share of the capital stock corporation, which

share stand in his name of the books of the corporation. Any director who ceases to be the

owner of at least one (1) share of the capital stock of the corporation shall thereby cease

to be a director. A majority of the directors must be resident of the Philippines.

B. The corporate powers of the corporation shall be exercised, all business conducted

and all property of the corporation be controlled and held by the board of directors to
 be elected from among the holders of stocks, who shall hold office for one (1) year and

until their successors are elected and qualified.

C. The directors shall not receive any compensation, as such directors, except for

reasonable for Diems. Any compensation may be granted to directors by the vote of the

stockholders representing at least a majority of the outstanding capital stock at a

regular or special stakeholder’ meeting, in no case shall be the total yearly compensation

of directors, as such directors, exceed ten (10%) percent of the net income before in

come tax of the corporation during the preceding year .

VI. THE MANNER OF ELECTION OR APPOINTMENT, QUALIFICATION ANDTHE

TERM OF OFFICE OF ALL OFFICERS OTHER THAN DIRECTORS

A.Immediately after their election, the directors of a corporation must formally organize

by the election of the chief executive officer, who shall be a director, a secretary who shall

be a resident or citizen of the Philippines, and such other officers as may be provided in

the by-laws. Two (2) or more positions may be held concurrently by the same officer,

however no one shall act as president and secretary at the same time. The officers of the

corporation shall hold office for one (1) year and until the successors are elected and

qualified. The officers of the corporation shall perform functions as required by existing

laws, rules and regulations

VII. FISCAL YEAR

A. The fiscal year of the corporation shall begin of the first day of January and end on the

last day of December of the year.

VIII. SEAL
 A. The corporate seal shall be determined by the board of directors.

IX. MISCELLANEOUS PROVISION

A. Matters not covered by the provisions of these by-laws shall be governed by the

provision of the Corporation Code of the Philippines.

IN WITNESS WHEREOF, we, the undersigned incorporators and/or stockholders present at

said meeting and voting thereat in favor of the adoption of said by-laws, have hereunto

subscribed our names this_______ day of______at_______________

(Names and signature of the incorporators and TIN)

Cost of goods manufactured and sold
Administrative Expense
 GLAZED PILI CORP.

ADMINISTRATIVE EXPENSES

Salaries: 2023 2024 2025 2026 2027

Chief Executive Officer 455,004.00 459,600.00 464,242.42 468,931.74 473,668.43

Production Supervisor 315,504.00 318,690.91 321,910.01 325,161.63 328,446.09

Distribution Supervisor 315,504.00 318,690.91 321,910.01 325,161.63 328,446.09

Finance Supervisor 315,504.00 318,690.91 321,910.01 325,161.63 328,446.09

Accountant 315,504.00 318,690.91 321,910.01 325,161.63 328,446.09

Bookkeeper 269,004.00 271,721.21 274,465.87 277,238.25 280,038.64

Administrative Personnel 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Administrative Personnel 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Delivery Worker 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Delivery Worker 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Sales Personnel 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Sales Personnel 89,160.00 90,060.61 90,970.31 91,889.20 92,817.37

Total 2,520,984.00 2,546,448.48 2,572,170.19 2,598,151.70 2,624,395.66

Utilities

Electricity 76,000.00 77,600.00 80,000.00 84,000.00 87,200.00

Water 19,000.00 19,400.00 20,000.00 21,000.00 21,800.00

Total 95,000.00 97,000.00 100,000.00 105,000.00 109,000.00

Computer 14,000.00 14,000.00 14,000.00 14,000.00 14,000.00

Laptop 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00

Printer 2,000.00 2,000.00 2,000.00 2,000.00 2,000.00

Chairs ₱1,400.00 ₱1,400.00 ₱1,400.00 ₱1,400.00 ₱1,400.00

Desk ₱1,750.00 ₱1,750.00 ₱1,750.00 ₱1,750.00 ₱1,750.00

Tables ₱2,400.00 ₱2,400.00 ₱2,400.00 ₱2,400.00 ₱2,400.00

Filing Cabinet ₱2,400.00 ₱2,400.00 ₱2,400.00 ₱2,400.00 ₱2,400.00

 Finance Office 33,333.00 33,333.00 33,333.00 33,333.00 33,333.00

Admin offce 16,666.00 16,666.00 16,666.00 16,666.00 16,666.00

Store building 50,000.00 50,000.00 50,000.00 50,000.00 50,000.00

Cargo Truck 64,000.00 64,000.00 64,000.00 64,000.00 64,000.00

Total Depreciation Expense 197,949.00 197,949.00 197,949.00 197,949.00 197,949.00

Office Supplies 36,000.00 36,000.00 36,000.00 36,000.00 36,000.00

Miscellaneous Expense 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00

Advertising Expense 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00

Repairs and Maintenance 94,500.00 94,500.00 94,500.00 94,500.00 94,500.00

Total Administrative Expense ₱2,994,433.00 ₱3,021,897.48 ₱3,050,619.19 ₱3,081,600.70 ₱3,111,844.66

Retained Earnings
Survey Materials/Questionnaire