Innovative Recordings

Music and Video Production

Overview

Raised to Date: Raised: $225,230

Total Commitments ($USD)

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

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/31/2022

Days Remaining
Funded
% of Min. Goal

282%

% of Max. Goal

45%

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

Location

Washington, District of Columbia

Business Type

Growth

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: 03/31/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Innovative Recordings 03/20/2023 SMBX - $11,850 Debt Not Funded RegCF
Innovative Recordings 07/13/2022 SMBX - $225,230 Debt Funded RegCF
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Innovative Recordings on SMBX 2022
Platform: SMBX
Security Type: Debt

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