Overview
Raised: $225,230
Total Commitments ($USD)
Platform
SMBX
Start Date
03/30/2022
Close Date
07/13/2022
Min. Goal
$80,000
Max. Goal
$500,000
Min. Investment
$10
Security Type
Debt
Series
Seed
SEC Filing Type
RegCF
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,166
Momentum
Funded
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Year Founded
2018
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Innovative Recordings is raising funds on SMBX. It is a production company in Washington, DC that creates compelling music and video productions. The company collaborates with musicians, government agencies, businesses, and non-profits to provide multimedia services starting from concept to completion. The offerings of Innovative Recordings include events planning, music recording, audio-visual needs of private entertainment, and mixing and mastering compositions. Charles Garris founded Innovative Recordings in July 2018. The current crowdfunding campaign has a minimum target of $80,000 and a maximum target of $500,000. The campaign proceeds will be used for recording equipment, advertising, manufacturing chips, and working capital.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$654,269 |
$635,578 |
|
COGS |
$160,400 |
$137,352 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$97,020 |
$53,508 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$73,151 |
$112,588 |
|
Accounts Receivable |
$41,011 |
$5,263 |
|
Total Assets |
$4,121,189 |
$4,176,820 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 03/30/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Innovative Recordings | 03/19/2023 | SMBX | - | $11,850 | Debt | Not Funded | RegCF |
| Innovative Recordings | 07/12/2022 | SMBX | - | $225,230 | Debt | Funded | RegCF |
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