This company is no longer in business. Investors can get details about any potential exits or failures here.

Cycle Phones

Cycle Phones

Early Stage

World's first phone that gets cheaper and more powerful the longer you own it

World's first phone that gets cheaper and more powerful the longer you own it

Overview

Raised to Date: Raised: $83,208

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/19/2021

Close Date

01/23/2022

Min. Goal
$50,000
Max. Goal
$800,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

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

Location

Middletown, Delaware

Business Type

Growth

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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Cycle Phones on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $3,650,000

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Warning: according to the close date for this deal, Cycle Phones may no longer be accepting investments.

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