Overview
Raised: $53,500
Total Commitments ($USD)
Platform
PicMii
Start Date
08/14/2023
Close Date
04/01/2024
Min. Goal
$10,000
Max. Goal
$4,000,000
Min. Investment
$500
Security Type
Convertible Note
Series
Series A
SEC Filing Type
RegCF
Valuation Cap
$100,000,000
Discount
5%
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/26/2023
Days Remaining
188
% of Min. Goal
535%
% of Max. Goal
1%
Likelihood of Max
Avg. Daily Raise
$1,244
Momentum
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Year Founded
2021
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Panhwar Jet, with a valuation of $100 million, is raising funds on PicMii. The company is crafting the world’s first all-electric long-range luxury aircraft. Panhwar Jet’s aircraft’s propulsion system is driven by an innovative power generation system that eliminates the need for heavy batteries and will enable the aircraft to cover the longest distance ever covered by an electrical plane. Panhwar Jet aims to cater to multiple sectors, including medical supplies, cargo, and business. Ayisha Fareed founded Panhwar Jet in February 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $4 million. The campaign proceeds will be used for salaries, real estate and assets, admin expenses, and marketing and advertising.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-580,669 |
$-428,057 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$16,146 |
$53,676 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$54,552 |
$97,083 |
|
Short-Term Debt |
$4,328 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$4,328 |
$0 |
Financials as of: 08/14/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Panhwar Jet | 04/01/2024 | PicMii | $100,000,000 | $53,500 | Convertible Note | Active | RegCF |
| Panhwar Jet | 11/04/2022 | Wefunder | $62,600,000 | $3,000 | Convertible Note | Not Funded | RegCF |
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