Boomerang Bike

Early Stage

Your Bike is Freedom Don't Lose it.

Analytics

Raised to Date: Raised: $29,172

Aggregate Commitments $

Platform

StartEngine

Start Date

12/22/2021

Close Date

03/21/2022

Min. Goal

$10,000

Max. Goal

$1,070,000

Min. Investment

$200

Security Type

Equity - Common

Funding Type

RegCF

Series

Pre-Seed

Pre-Money Valuation

$15,782,386

Rolling Commitments $

Status

Active

Reporting Date

01/19/2022

Days Remaining

61

% of Min. Goal

292%

% of Max. Goal

3%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,042

Momentum
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Location

Sunnyvale, California

Industry

Security, Cybersecurity, & Defense

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

Boomerang Bike, with a valuation of $15.8 million, is raising funds on StartEngine. 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. 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: 12/22/2021
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Boomerang Bike on StartEngine 2021
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Platform: StartEngine
Security Type: Equity - Common
Valuation: $15,782,386

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