Overview

Raised to Date: Raised: $36,233

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Netcapital

Start Date

02/05/2023

Close Date

04/28/2023

Min. Goal

$10,000

Max. Goal

$1,234,999

Min. Investment

$99

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$1.63

Pre-Money Valuation

$7,074,581

Rolling Commitments ($USD)

Status

Funded

Reporting Date

04/29/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$447

Momentum

Funded

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Aqua Research

Year Founded

2011

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Albuquerque, New Mexico

Business Type

Growth

Company Website

Aqua Research, with a valuation of $7.07 million, is raising funds on NetCapital. The company has developed its innovative, affordable, and sustainable disinfection technology for disinfecting surfaces and treating drinking water. The Aqua Research system uses common salt to solve disinfection supply chain issues of developing nations and makes the process cheaper, simpler, and more robust. Aqua Research has received approvals from USAID and has installed hundreds of systems in over 20 countries. Gene Rabent and Rodney Herrington founded Aqua Research in September 2011. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.23 million. The campaign proceeds will be used for sales, product development, unallocated funds, and general and administrative expenses.

Summary Profit and Loss Statement

	FY 2021	FY 2020
Revenue	$665,355	$1,175,727
COGS	$351,215	$550,940
Tax	$0	$0
Net Income	$-75,010	$52,755

Summary Balance Sheet

	FY 2021	FY 2020
Cash	$108,906	$98,533
Accounts Receivable	$11,792	$0
Total Assets	$447,877	$253,788
Short-Term Debt	$630,486	$523,887
Long-Term Debt	$54,125	$0
Total Liabilities	$684,611	$523,887

Financials as of: 02/05/2023

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Aqua Research Founder Rodney Herrington on Destroying Waterborne Diseases

Safe water and a clean environment are two seemingly simple factors that play a huge role in an individual’s health. But in low-income countries, those necessities aren’t always as accessible as turning on a tap or stopping by the store for some cleaning spray. Even hospitals, where sanitation can make the difference between healing or further complications, may suffer from poor hygiene in some communities.

Aqua Research is determined to combat this humanitarian crisis — with more than a grain of salt. Its affordable, innovative technologies can create a disinfectant and purify water using salt as a main ingredient. We reached out to founder and Chief Technology Officer Rodney Herrington to learn more about the company’s sales process and the organizations it collaborates with.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview