FuelGems
A revolutionary fuel additive which makes fuel much cleaner and more efficient
Overview
Raised: $180,076
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/31/2022
Close Date
02/18/2023
Min. Goal
$9,999
Max. Goal
$3,604,524
Min. Investment
$248
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$2.34
Pre-Money Valuation
$15,000,762
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/28/2023
Days Remaining
Funded
% of Min. Goal
1,801%
% of Max. Goal
5%
Likelihood of Max
Funded
Avg. Daily Raise
$1,637
# of Investors
206
Momentum
Funded
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Year Founded
2019
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
FuelGems, with a valuation of $15 million, is raising funds on StartEngine. The company has developed a fuel additive that improves the cleanliness and performance of diesel, gasoline, and biofuel. The additives of FuelGems are highly effective and affordable and generate up to 1,000% ROI for users. The company has reported a 1,600% prospective client growth over the last year and has over $70 million in revenue potential from pilots. Kirill Gichunts founded FuelGems in March 2019. The current crowdfunding campaign has a minimum target of $9,998.82 and a maximum target of $3.6 million. The campaign proceeds will be used to become the most successful fuel additive worldwide.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$0 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$433,138 |
$607,126 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$433,138 |
$626,712 |
|
Short-Term Debt |
$24,030 |
$35,384 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$24,030 |
$35,384 |
Financials as of: 10/31/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| FuelGems | 02/18/2023 | StartEngine | $15,000,762 | $180,076 | Equity - Common | Funded | RegCF |
| FuelGems | 04/29/2022 | StartEngine | $12,000,000 | $1,395,837 | Equity - Common | Funded | RegCF |
| FuelGems | 11/20/2020 | Wefunder | $8,500,000 | $791,207 | SAFE | Funded | RegCF |
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