Innovative Recordings (2022)

Innovative Recordings (2022)

Closed: Jul. 2022

About this raise

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.

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Investment Overview

Invested this round: $225,230

Deal Terms

Total Commitments

Platform
SMBX
Start Date
03/31/2022
Close Date
07/13/2022
Min. Goal
$80,000
Max Goal
$500,000
Min. Investment

$10

Security Type

Debt

SEC Filing Type

RegCF    Open SEC Filing

Company & Team

Company

Year Founded
2018
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Location
Washington, District of Columbia
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
No
Founder Name
Charels Garris
Title
President

Financials

 Revenue +3% YoY
$654,269
 Monthly Burn
Profitable
 Cash on Hand
$73,151
 Gross Margin
75%

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/20/2023 SMBX - $11,850 Debt Not Funded RegCF
07/13/2022 SMBX - $225,230 Debt Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Innovative Recordings on SMBX 2022
Platform: SMBX
Security Type: Debt

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Warning: according to the close date for this deal, Innovative Recordings may no longer be accepting investments.

Innovative Recordings Deal Report

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