PennyFly Entertainment

PennyFly Entertainment

Closed: Apr. 2022

About this raise

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.

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Investment Overview

Invested this round: $41,304

Deal Terms

Total Commitments

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

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.72

Pre-Money Valuation

$7,200,000

Company & Team

Company

Year Founded
2017
Industry
Media, Entertainment & Publishing
Tech Sector
MediaTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Location
Thousand Oaks, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Tyler Prescott
Title
CEO

Financials

 Revenue -57% YoY
$61,262
 Monthly Burn
Profitable
 Cash on Hand
$68,169
 Gross Margin
97%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2022 Netcapital $7,200,000 $41,304 Equity - Common Funded RegCF
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Add to portfolio
PennyFly Entertainment on NetCapital 2021
Platform: Netcapital
Security Type: Equity - Common
Valuation: $7,200,000
Price per Share: $0.72

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Warning: according to the close date for this deal, PennyFly Entertainment may no longer be accepting investments.

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