AVACEN Medical
Growth Stage
Pain-Free Is Freedom!
Overview
Raised: $231,329
Total Commitments ($USD)
Platform
StartEngine
Start Date
06/23/2023
Close Date
11/21/2023
Min. Goal
$10,000
Max. Goal
$1,235,000
Min. Investment
$500
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$75,904,940
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/28/2023
Days Remaining
54
% of Min. Goal
2,313%
% of Max. Goal
19%
Likelihood of Max
Avg. Daily Raise
$2,385
# of Investors
176
Momentum
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Year Founded
2017
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
AVACEN Medical, with a valuation of $75.9 million, is raising funds on StartEngine. The company provides non-invasive and FDA-cleared pain relief and wellness devices and diagnostics for cardiovascular diseases and stress. The medical devices of AVACEN Medical use a thermotherapy platform technology to increase blood flow to the blood vessels and reduce pain. AVACEN Medical has sold over 9,000 devices and provides 22 million treatments without adverse effects. Anthony Shimkin, Thomas Muehlbauer, and Danielle Forsgren founded AVACEN Medical in September 2017. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.24 million. The campaign proceeds will be used for clinical studies, research and development, marketing, company employment, and working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$4,814,854 |
$4,580,867 |
|
COGS |
$1,966,624 |
$1,948,778 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$43,023 |
$45,430 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$257,171 |
$1,309,009 |
|
Accounts Receivable |
$19,297 |
$8,950 |
|
Total Assets |
$3,109,925 |
$2,845,983 |
|
Short-Term Debt |
$795,646 |
$645,389 |
|
Long-Term Debt |
$1,399,870 |
$1,258,130 |
|
Total Liabilities |
$2,195,516 |
$1,903,519 |
Financials as of: 06/23/2023
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