LifeShirt
Growth Stage
The World's Most Comfortable Floatation Device
Overview
Platform
Texture Capital
Start Date
11/20/2023
Close Date
11/07/2024
Min. Goal
$400,000
Max. Goal
$1,235,000
Min. Investment
$308
Security Type
Equity - Common
Series
Series C
SEC Filing Type
RegCF
Price Per Share
$5.60
Pre-Money Valuation
$15,000,000
Year Founded
2023
Industry
Apparel & Fashion
Tech Sector
Retailtech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
LifeShirt, with a valuation of $15 million, is raising funds on Texture Capital. The company is developing an inflatable personal floatation device using its patented water-safety technology. LifeShirt is made with marine-grade fabrics and is fast-drying, machine washable, and fade-resistant with multiple settings. LifeShirt products will be used for recreational water activities and is expected to be launched worldwide in 2024. Bert Pearsall founded LifeShirt in May 2023. The current crowdfunding campaign has a minimum target of $400,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing and inventory.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-3,928 |
$-3,700 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$1,381 |
$4,027 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,106,458 |
$1,068,386 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 11/20/2023
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