PittMoss
Early Stage
PitttMoss is a top performing upcycled soil made from organic, recycled paper
Overview
Raised: $292,660
Total Commitments ($USD)
Platform
StartEngine
Start Date
03/20/2023
Close Date
04/30/2023
Min. Goal
$10,000
Max. Goal
$1,235,000
Min. Investment
$200
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$15,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$7,138
# of Investors
324
Momentum
Funded
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Year Founded
2015
Industry
Farming & Agriculture
Tech Sector
AgriTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
PittMoss, with a valuation of $15 million, is raising funds on StartEngine. The company makes next-generation soils that are good for the plants and the planet. The PittMoss soils are made from upcycled material, like organic paper waste, and allow more air, water, and nutrients to reach the plants. PittMoss has experienced 40-50% annual growth in sales and has generated over $3 million in revenue to date. Mont Handley and Brian Scott founded PittMoss in January 2015. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, company employment, inventory, public relations, and working capital.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$934,960 |
$563,821 |
|
COGS |
$888,372 |
$445,309 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,133,416 |
$-897,776 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$227,146 |
$271,009 |
|
Accounts Receivable |
$157,781 |
$157,183 |
|
Total Assets |
$892,416 |
$897,290 |
|
Short-Term Debt |
$316,947 |
$120,855 |
|
Long-Term Debt |
$996,596 |
$465,568 |
|
Total Liabilities |
$1,313,543 |
$586,423 |
Financials as of: 03/20/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| PittMoss | 04/01/2024 | PicMii | - | $2,000 | SAFE | Active | RegCF |
| PittMoss | 04/30/2023 | StartEngine | $15,000,000 | $292,660 | Convertible Note | Funded | RegCF |
| PittMoss | 11/08/2021 | Republic | $7,500,000 | $500,000 | SAFE | Funded | RegCF |
| PittMoss | 08/15/2020 | Republic | $7,000,000 | $240,457 | SAFE | Funded | RegCF |
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