FirmTech
Early Stage
First Smart Erectile Ring That Increases Pleasure And Performance While Aiding ED And Heart Disease
Overview
Raised: $78,300
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/21/2023
Close Date
04/29/2024
Min. Goal
$50,400
Max. Goal
$1,234,800
Min. Investment
$3,600
Security Type
Equity - Common
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$3,600.00
Pre-Money Valuation
$15,966,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$249
# of Investors
56
Momentum
Funded
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Year Founded
2020
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
FirmTech, with a valuation of $15.9 million, is raising funds on Wefunder. The company makes products aimed at better sex and better health of individuals. The products empower people of all genders to assess their sexual health, overall health, medications, and habits, heightening their sexual performance and pleasure. The innovative sex toy of FirmTech, the Erectile Ring, helps to increase pleasure and performance and also aids with heart disease and erectile dysfunction. Dr. Elliott Justin founded FirmTech in September 2020. The current crowdfunding campaign has a minimum target of $50,400 and a maximum target of $1.23 million. The campaign proceeds will be used for marketing, personnel costs, research and development, and engineering costs.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$78,202 |
$0 |
|
COGS |
$18,231 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,460,288 |
$-951,643 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$112,627 |
$220,200 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$335,168 |
$454,992 |
|
Short-Term Debt |
$153,344 |
$24,880 |
|
Long-Term Debt |
$145,000 |
$145,000 |
|
Total Liabilities |
$298,344 |
$169,880 |
Financials as of: 06/21/2023
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