E-Cite Motors
Growth Stage
Producing state of the art iconic EV vehicles
Overview
Raised: $52,486
Total Commitments ($USD)
Platform
Andes Capital
Start Date
06/08/2023
Close Date
05/24/2024
Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$2.50
Pre-Money Valuation
$75,000,000
Rolling Commitments ($USD)
Status
Active
Reporting Date
05/07/2024
Days Remaining
16
% of Min. Goal
105%
% of Max. Goal
4%
Likelihood of Max
Avg. Daily Raise
$157
# of Investors
51
Momentum
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Year Founded
2021
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Cleantech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
E-Cite Motors, with a valuation of $75 million, is raising funds on Andes Capital. It is a low-volume vehicle manufacturer that produces state-of-the-art iconic electric vehicles. The EVs of E-Cite Motors are fun to drive, scalable, affordable, stylish, and commercially viable. The upcoming products of the company are EV-GT, a stylish targa sportscar; Rambo Truck RT-670 BLVD, an off-road machine; and EV-222 Hypercar, an electric supercar. Barry Henthorn founded E-Cite Motors in September 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for research and development, prototype building, testing and certification, production tooling, facilities, and marketing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$72,950 |
$12,550 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-508,483 |
$-12,550 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$1,080 |
$17,412 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,365,252 |
$2,207,013 |
|
Short-Term Debt |
$1,528 |
$8,400 |
|
Long-Term Debt |
$768,840 |
$0 |
|
Total Liabilities |
$770,368 |
$8,400 |
Financials as of: 06/08/2023
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