NEXT Boatworks
Early Stage
We're building the future of rowing.
Overview
Raised: $64,750
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/20/2022
Close Date
04/23/2023
Min. Goal
$50,000
Max. Goal
$450,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$2,400,000
Discount
10%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$352
# of Investors
33
Momentum
Funded
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Year Founded
2016
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
NEXT Boatworks, with a valuation of $2.4 million, is raising funds on Wefunder. The company has made the first next-gen coastal rowing boat that meets the World Rowing C1x coastal rule standards. The boat, NEXT C1X, has established NEXT Boatworks as the leader in coastal rowing boat design with its leak-proof, lightweight, and innovative design. The company aims to develop and build the Renegade next, a sturdy boat with high performance. Dennis Loebs and Ben Booth founded NEXT Boatworks in May 2016. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $450,000. The campaign proceeds will be used for new hires, marketing, doubling C1X throughput and sales, tooling and equipment, and debt retirement.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-495,801 |
$-194,055 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$7,727 |
$24,345 |
|
Accounts Receivable |
$9,380 |
$0 |
|
Total Assets |
$532,171 |
$198,482 |
|
Short-Term Debt |
$150,614 |
$34,515 |
|
Long-Term Debt |
$311,232 |
$0 |
|
Total Liabilities |
$461,846 |
$34,515 |
Financials as of: 10/20/2022
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