MF Fire

MF Fire

Early Stage

Transforming Wood Heat into Clean Energy

Transforming Wood Heat into Clean Energy

Overview

Raised this Round: Raised: $171,800

Platform

SeedInvest

Start Date

05/15/2016

Close Date

08/16/2016

Min. Goal
$100,000
Max. Goal
$200,000
Min. Investment

$500

Security Type

Convertible Note

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,000,000

Discount

15%

Year Founded

2014

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Location

Baltimore, Maryland

MF Fire, with a valuation of $7 million, is raising funds on SeedInvest. The company makes smart wood burning technology products that help in transforming wood energy into clean energy. MF Fire’s smart wood stove is 90% efficient, much cleaner than traditional wood stoves, and provides 50% cost savings on fuel costs. The company’s technology is based on extensive research and data analysis and has experienced substantial revenue growth. Paul LaPorte, Ryan Fisher, and Dr Taylor Myers founded MF Fire in April 2014. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $200,000. The campaign proceeds will be used for salaries, product development, marketing and sales, and general and administrative expenses.

Summary Profit and Loss Statement

FY 2015 FY 2014

Revenue

$100,000

$28,500

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-36,772

$-2,250

Summary Balance Sheet

FY 2015 FY 2014

Cash

$10,170

$7,321

Accounts Receivable

$0

$0

Total Assets

$10,170

$7,321

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 05/15/2016
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
MF Fire 03/05/2024 StartEngine $17,962,821 $201,386 Equity - Common Funded RegCF
MF Fire 04/29/2021 StartEngine $12,659,391 $498,201 Equity - Common Funded RegCF
MF Fire 08/15/2016 SeedInvest $7,000,000 $171,800 Convertible Note Funded RegCF
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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.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

Funding data not publicly available

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MF Fire on SeedInvest 2016
Platform: SeedInvest
Security Type: Convertible Note
Valuation: $7,000,000

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