This company is no longer in business. Investors can get details about any potential exits or failures here.
Cycle Phones
Early Stage
World's first phone that gets cheaper and more powerful the longer you own it
Overview
Raised: $83,208
Total Commitments ($USD)
Platform
Wefunder
Start Date
08/19/2021
Close Date
01/24/2022
Min. Goal
$50,000
Max. Goal
$800,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$3,100,000
Valuation Cap
$3,650,000
Discount
10%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$530
# of Investors
144
Momentum
Funded
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Year Founded
2021
Industry
Consumer Products, Goods & Services
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Cycle Phones, with a valuation of $3.65 million, is raising funds on Wefunder. The company is making the world’s first phone that gets cheaper, faster, and more powerful with time. The company uses a dedicated server to run the phone instead of a tiny processor, thus making it better with time. Cycle Phones has the first-mover advantage and a strong environmental mission. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $800,000. The campaign proceeds will be used to develop a mobile app to demonstrate the MVP, pay salaries, cover server costs, and pay legal costs.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$0 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$0 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$0 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 08/19/2021
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