MF Fire

MF Fire

Growth Stage

Transforming Wood Heat into Clean Energy

Transforming Wood Heat into Clean Energy

Overview

Raised to Date: Raised: $498,201

Total Commitments ($USD)

Platform

StartEngine

Start Date

08/31/2020

Close Date

04/29/2021

Min. Goal
$9,999
Max. Goal
$534,498
Min. Investment

$288

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.15

Pre-Money Valuation

$12,659,391

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/01/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,067

# of Investors

610

Momentum
Funded
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Year Founded

2014

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Baltimore, Maryland

Business Type

Growth

MF Fire, with a pre-money valuation of $12.7 million, is raising crowdfunding on StartEngine. 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. Paul LaPorte, Ryan Fisher, and Dr Taylor Myers founded MF Fire in 2014. The current crowdfunding round has a minimum goal of $9,999.25 and a maximum goal of $1,069,999.10. MF Fire has experienced substantial revenue growth, with over 100% year-over-year growth in product line and employees. The technology is based on extensive research and data analysis.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$243,807

$146,642

COGS

$123,257

$41,470

Tax

$6,971

$15,966

 

 

Net Income

$-411,773

$-601,181

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$73,306

$105,610

Accounts Receivable

$0

$0

Total Assets

$496,946

$392,686

Short-Term Debt

$0

$0

Long-Term Debt

$100,000

$100,000

Total Liabilities

$100,000

$100,000

Financials as of: 08/31/2020
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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 - Convertible Note Funded RegCF
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Price per Share History

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

Valuation History

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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MF Fire on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $12,659,391
Price per Share: $1.15

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