ElliptiGO

ElliptiGO

Growth Stage

Elliptical and Stand-Up Bicycles

Elliptical and Stand-Up Bicycles

Overview

Raised to Date: Raised: $565,341

Total Commitments ($USD)

Platform

StartEngine

Start Date

01/09/2020

Close Date

03/04/2020

Min. Goal
$9,996
Max. Goal
$1,069,999
Min. Investment

$700

Security Type

Equity - Preferred

Series

Series D

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$7.00

Pre-Money Valuation

$34,108,515

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/30/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$10,279

# of Investors

305

Momentum
Funded
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Year Founded

2009

Industry

Fitness & Wellness

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Solana Beach, California

Business Type

Life Style

ElliptiGo, with a pre-money valuation of $34.1 million, is raising crowdfunding on StartEngine. The company manufactures and sells elliptical and stand-up bicycles for outdoor fitness and recreation. ElliptiGo bikes provide comfortable, low-impact, and full-body workout in a fun manner, and burn 33% more calories than traditional bikes. ElliptiGo was founded by Bryan Pate and Brent Teal in 2005 and has raised more than $9 million since its inception. The proceeds of the current round of crowdfunding, with a minimum raise of $10,000 and a maximum raise of $1,070,000, will be used for marketing and new product development. ElliptiGo has already sold more than 28,000 ElliptiGos and generated over $45 million in revenue.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$4,642,737

$4,871,832

COGS

$2,784,088

$2,946,797

Tax

$10,322

$2,350

 

 

Net Income

$-717,811

$-1,405,143

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,007,895

$1,340,960

Accounts Receivable

$101,486

$170,352

Total Assets

$2,285,987

$2,952,734

Short-Term Debt

$269,448

$293,378

Long-Term Debt

$13,919

$17,889

Total Liabilities

$283,367

$311,267

Financials as of: 01/09/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
ElliptiGO 03/04/2020 StartEngine $34,108,515 $565,341 Equity - Preferred Funded RegCF
ElliptiGO 02/27/2017 StartEngine - $1,040,383 Equity - Preferred Funded RegCF
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ElliptiGO on StartEngine
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $34,108,515
Price per Share: $7.00

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