FloSpine

Overview

Raised to Date: Raised: $162,093

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

09/30/2022

Close Date

01/31/2023

Min. Goal

$9,999

Max. Goal

$1,069,996

Min. Investment

$299

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    

Price Per Share

$2.90

Pre-Money Valuation

$47,440,958

Rolling Commitments ($USD)

Status

Funded

Reporting Date

02/05/2023

Days Remaining

Funded

% of Min. Goal

1,621%

% of Max. Goal

15%

Likelihood of Max

Funded

Avg. Daily Raise

$1,318

# of Investors

165

Momentum

Funded

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FloSpine

Year Founded

2022

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Boca Raton, Florida

Business Type

Growth

Company Website

FloSpine, with a valuation of $47.4 million, is raising funds on StartEngine. It is a medical device company using new technology and design concepts to solve problems related to the human spinal column. The spinal implants of FloSpine are innovative, cost-effective, high-margin, and lead to shorter hospital stays and improved patient outcomes. The KeyLift device fits in between the laminar of the spine and can be inserted through a small incision. Peter Harris founded FloSpine in June 2022. The current crowdfunding campaign has a minimum target of $9,999.20 and a maximum target of $1,069,995.60. The campaign proceeds will be used to launch new products, including a 3D-printed titanium cervical cage and a KeyLift expandable inter-laminar system.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$1,557,981	$1,254,783
COGS	$470,571	$280,235
Tax	$0	$0
Net Income	$-699,753	$-166,166

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$885,057	$68,182
Accounts Receivable	$160,731	$212,113
Total Assets	$2,164,439	$1,228,098
Short-Term Debt	$105,037	$176,552
Long-Term Debt	$1,962,359	$229,998
Total Liabilities	$2,067,396	$406,550

Financials as of: 09/30/2022

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Back pain sucks. Even worse is making a brutal decision between getting surgery or trying alternative forms of treatment. While getting rods and screws surgically inserted into your spine will alleviate pain, it is an expensive and daunting decision. Other options, like physical therapy, spinal cord stimulators, painkillers, or other types of therapy, can be ineffective. 

Simply put, there is no intermediate option for patients who have tried alternative forms of therapy but do not want to have a full-blown surgery to insert rods and screws. 

Until now.

FloSpine, the company I’m introducing to you today, has created a revolutionary new device called the KeyLift.

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