Apothio
Early Stage
First Tokenized Litigation Funding for one of largest US crop destructions
Overview
Raised: $347,887
Total Commitments ($USD)
Platform
Republic
Start Date
10/26/2021
Close Date
04/07/2022
Min. Goal
$250,000
Max. Goal
$5,000,000
Min. Investment
$100
Security Type
Equity - Tokens
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$5,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,147
# of Investors
170
Momentum
Funded
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Year Founded
2016
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B
Margin
High
Capital Intensity
High
Apothio is raising crowdfunding on Republic. The company is an agricultural research institution that researches and commercializes hemp. It is in a legal dispute with Kern County for the destruction of 450 acres of Apothio’s plants by the government authorities in 2019. Thereafter, in 2020, Apothio sued Kern County for monetary damages totaling $500 million to $1 billion. The company is now undertaking the initial litigation offering to finance the litigation costs. Dr. Trent Jones and Thomas Kirk founded Apothio in October 2016. The current crowdfunding campaign has a minimum target of $250,000 and a maximum target of $5,000,000. The campaign proceeds will be used to pay for the litigation expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$15,160 |
$147,451 |
|
COGS |
$12,407 |
$9,601 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-4,191,022 |
$-4,774,136 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$165,446 |
$23,527 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,013,946 |
$660,530 |
|
Short-Term Debt |
$7,932,302 |
$3,453,476 |
|
Long-Term Debt |
$1,514,280 |
$1,448,667 |
|
Total Liabilities |
$9,446,582 |
$4,902,143 |
Financials as of: 10/26/2021
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