CycleBoard
Growth Stage
The personal electric vehicle, reimagined
Overview
Raised: $399,802
Total Commitments ($USD)
Platform
StartEngine
Start Date
02/25/2021
Close Date
11/22/2021
Min. Goal
$9,996
Max. Goal
$1,069,991
Min. Investment
$291
Security Type
Equity - Common
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$7.27
Pre-Money Valuation
$12,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,486
# of Investors
364
Momentum
Funded
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Year Founded
2015
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
CycleBoard, with a pre-money valuation of $12 million, is raising crowdfunding on StartEngine.The company designs and manufactures personal electric vehicles using its patented steering technology and three-wheel platform. The electric vehicles of CycleBoard are easy to ride, functional, and fun. Phillip LaBonty founded CycleBoard in 2015. The proceeds of the current crowdfunding campaign, with a minimum raise of $9,996.25 and a maximum raise of $1,069,991.33, will be used for growth and expansion. CycleBoard reported a 110% growth in sales from 2019 to 2020 and has generated $4.9 million in total sales. The patented lean-to-steer technology of CycleBoard comes with dual front wheels, a single rear wheel, and a stability bar.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,537,130 |
$1,159,642 |
|
COGS |
$1,982,850 |
$812,887 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-83,980 |
$-356,831 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$245,879 |
$15,020 |
|
Accounts Receivable |
$4,387 |
$19,029 |
|
Total Assets |
$1,203,483 |
$1,158,579 |
|
Short-Term Debt |
$232,212 |
$100,423 |
|
Long-Term Debt |
$1,260,000 |
$770,000 |
|
Total Liabilities |
$1,492,212 |
$870,423 |
Financials as of: 02/25/2021
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