Penny Luck Shoes, Inc.

Penny Luck Shoes, Inc.

Early Stage

WEAR YOUR LUCK

WEAR YOUR LUCK

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/19/2020

Close Date

04/27/2020

Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment

$300

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.00

Pre-Money Valuation

$7,100,000

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

04/25/2020

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

$0

Momentum
Not Funded
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Year Founded

0205

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Round Rock, Texas

Business Type

Life Style

Penny Luck Shoes, with a pre-money valuation of $7.1 million, is raising funds on StartEngine. The company is a unique men’s shoe brand with a lucky twist. Disabled Vets are hired by the company to place lucky pennies on the soles of the shoes for American Dream Chasers to wear their luck. Penny Luck Shoes also has a charitable mission to donate a portion of the proceeds to connect Veterans struggling with PTSD with available resources. Penny Luck Shoes was founded by Brian Munoz in 2015. The current round of crowdfunding has a minimum target of $10,000 and a maximum target of $107,000, and the proceeds will be used to actualize the true potential of Penny Luck. The company has sold over 5,000 pairs of shoes, with 84% gross margin in 2017 and a 74.7% gross margin in 2018.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$244,163

$158,947

COGS

$61,758

$25,413

Tax

$0

$0

 

 

Net Income

$-27,076

$27,349

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$9,088

$18,655

Accounts Receivable

$0

$0

Total Assets

$140,379

$98,645

Short-Term Debt

$74,811

$17,500

Long-Term Debt

$47,022

$0

Total Liabilities

$121,833

$17,500

Financials as of: 03/19/2020
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Penny Luck Shoes, Inc. on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $7,100,000
Price per Share: $2.00

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