Panhwar Jet

Panhwar Jet

Growth Stage

All-electric affordable luxury aircraft

All-electric affordable luxury aircraft

Overview

Raised to Date: Raised: $53,500

Total Commitments ($USD)

Platform

PicMii

Start Date

08/13/2023

Close Date

03/31/2024

Min. Goal
$10,000
Max. Goal
$4,000,000
Min. Investment

$500

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$100,000,000

Discount

5%

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

03/30/2024

Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise

$233

Momentum
Not Funded
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Year Founded

2021

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Kamas, Utah

Business Type

Growth

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: 08/13/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Panhwar Jet 03/30/2024 PicMii $100,000,000 $53,500 Convertible Note Not Funded RegCF
Panhwar Jet 11/03/2022 Wefunder $62,600,000 $3,000 Convertible Note Not 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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Panhwar Jet on PicMii 2023
Platform: PicMii
Security Type: Convertible Note
Valuation: $100,000,000

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