Boomerang Bike
Your Bike is Freedom Don't Lose it.
Analytics
Raised: $21,100
Aggregate Commitments $
Platform
Silicon Prairie Online
Start Date
06/21/2022
Close Date
10/20/2022
Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment
$200
Security Type
Equity - Common
Funding Type
RegCF
Series
Seed
Price Per Share
$0.33
Pre-Money Valuation
$15,782,386
Rolling Commitments $
Status
Active
Reporting Date
08/17/2022
Days Remaining
64
% of Min. Goal
211%
% of Max. Goal
2%
Likelihood of Max
Avg. Daily Raise
$370
Momentum
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Location
Sunnyvale, California
Industry
Security, Cybersecurity, & Defense
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Boomerang Bike, with a valuation of $15.8 million, is raising funds on Silicon Prairie Online. The company has developed a GPS bike security system that uses IoT technology to prevent bike theft. The Boomerang CycloTrac is a bike alarm and GPS tracker that attaches to the bike and runs on cloud-based software through an app. Boomerang Bike is in the pre-ramp stage and generated revenues of $192,000 in 2020. The business has over 3,000 customers and expects to reach 5,000 customers soon. Kevin Fahrner founded Boomerang Bike in July 2013. The current crowdfunding campaign has a minimum target of $9,999.99 and a maximum target of $1,069,999.59. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$192,161 |
$104,305 |
|
COGS |
$234,652 |
$59,027 |
|
Tax |
$4,123 |
$0 |
| ||
| ||
|
Net Income |
$-482,826 |
$-700,038 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$6,307 |
$72,451 |
|
Accounts Receivable |
$0 |
$2,204 |
|
Total Assets |
$258,910 |
$157,874 |
|
Short-Term Debt |
$392,876 |
$323,097 |
|
Long-Term Debt |
$52,974 |
$2,204,358 |
|
Total Liabilities |
$445,850 |
$2,527,455 |
Financials as of: 06/21/2022
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