FAFCO

FAFCO

Early Stage

CoolPV® can deliver up to 4x the power of stand alone solar panels

CoolPV® can deliver up to 4x the power of stand alone solar panels

Overview

Raised to Date: Raised: $204,528

Platform

Wefunder

Start Date

03/30/2017

Close Date

08/30/2017

Min. Goal
$150,000
Max. Goal
$1,000,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Year Founded

1972

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Location

Chico, California

FAFCO is raising funds on Wefunder. The company is one of the oldest and largest solar thermal manufacturers in the US. FAFCO has pioneered the use of engineered polymers for solar pool heating with its CoolPV system. The CoolPV system is a commercially viable combined solar thermal and solar electric system that can generate up to four times the power of a regular PV system. FAFCO has 20 issued patents and generated $6.9 million in revenue in 2015. Robert Leckinger founded FAFCO in March 1972. The current crowdfunding campaign has a minimum target of $150,000 and a maximum target of $1 million. The campaign proceeds will be used to commercialize CoolPV, reduce the cost of CoolPV, and for working capital.

Summary Profit and Loss Statement

FY 2016 FY 2015

Revenue

$5,943,900

$6,996,400

COGS

$4,773,500

$5,261,400

Tax

$-565,200

$-454,200

 

 

Net Income

$-573,800

$-666,300

Summary Balance Sheet

FY 2016 FY 2015

Cash

$734,500

$53,400

Accounts Receivable

$450,000

$582,200

Total Assets

$2,435,500

$2,331,800

Short-Term Debt

$1,567,900

$1,668,300

Long-Term Debt

$8,098,200

$8,845,600

Total Liabilities

$9,666,100

$10,513,900

Financials as of: 03/30/2017
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FAFCO on Wefunder 2017
Platform: Wefunder
Security Type: SAFE

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