HeatGen
Growth Stage
Your Favorite Drinks and Soups, Hot When You Want
Overview
Raised: $15,181
Total Commitments ($USD)
Platform
StartEngine
Start Date
09/14/2022
Close Date
12/14/2022
Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment
$300
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.30
Pre-Money Valuation
$10,000,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
12/17/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$169
# of Investors
21
Momentum
Not Funded
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Year Founded
2010
Industry
Food, Beverage, & Restaurants
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
HeatGen, with a valuation of $10 million, is raising funds on StartEngine. The company has developed an on-demand seed-heating packaging innovation. The device uses patented technology to heat up coffee, soup, tea, sake, or broth with a simple twist of the bottom cap. The technology of HeatGen delivers a thermal reaction to deliver ready-to-drink beverages wherever consumers want them. HeatGen product is available online, in over 100 Central Texas stores, and in all Wegman’s stores. Mark Turner founded HeatGen in May 2010. The current crowdfunding campaign has a minimum target of $9,999.90 and a maximum target of $1,069,999.80. The campaign proceeds will be used to expand with new strategic partnerships and begin mass production.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$9,634 |
$0 |
|
COGS |
$65,995 |
$37,229 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,622,848 |
$-1,673,825 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$78,660 |
$654,547 |
|
Accounts Receivable |
$6,750 |
$0 |
|
Total Assets |
$779,048 |
$1,379,732 |
|
Short-Term Debt |
$237,982 |
$339,086 |
|
Long-Term Debt |
$652,120 |
$147,979 |
|
Total Liabilities |
$890,102 |
$487,065 |
Financials as of: 09/14/2022
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