Locl
Early Stage
World's finest surfing apparel. Pending B Corp®.
Overview
Raised: $50,050
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/09/2019
Close Date
04/29/2020
Min. Goal
$50,000
Max. Goal
$107,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$2,000,000
Discount
25%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/02/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$216
# of Investors
27
Momentum
Funded
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Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
LOCL, with a valuation cap of $2.5 million, is raising crowdfunding on WeFunder. The company manufactures world-class apparel for surfers, especially in the age group between 25 to 54 years. LOCL caters specifically to educated, mature, and affluent male and female surfers. LOCL was founded by Jonathan Rath in 2019 and has raised $15,000 since its inception. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $107,000, and the funds will be used for product and brand development and business operations. LOCL already has partnerships with top-class designers and creatives and is growing its reach and brand visibility exponentially.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,824 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$4,916 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$13,076 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 09/09/2019
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