PennyFly Entertainment
Early Stage
Record label and entertainment company
Overview
Raised: $41,304
Total Commitments ($USD)
Platform
Netcapital
Start Date
12/10/2021
Close Date
04/29/2022
Min. Goal
$10,000
Max. Goal
$1,069,992
Min. Investment
$99
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$0.72
Pre-Money Valuation
$7,200,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$295
Momentum
Funded
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Year Founded
2017
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
PennyFly Entertainment, with a valuation of $7.2 million, is raising funds on NetCapital. It is a record label and entertainment company that provides artists with an alternative to major labels. The company offers fair profit splits, flexible deal terms, and access to some specific music industry channels. The business model of PennyFly Entertainment works on partnership revenues, “label for hire” services, merchandise and streaming revenues, and other projects. Tyler Prescott founded PennyFly Entertainment in May 2017. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,069,992. The campaign proceeds will be used for payroll, marketing, CFO contract, insurance, hosting, travel, new equipment, and telecommunications.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$61,262 |
$144,094 |
|
COGS |
$1,626 |
$1,491 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$28,845 |
$111,597 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$68,169 |
$59,393 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$77,866 |
$67,393 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$17,317 |
$7,573 |
|
Total Liabilities |
$17,317 |
$7,573 |
Financials as of: 12/10/2021
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