Ponix
Early Stage
The Food Utility Company
Overview
Raised: $20,954
Total Commitments ($USD)
Platform
StartEngine
Start Date
02/20/2023
Close Date
05/25/2023
Min. Goal
$14,999
Max. Goal
$1,234,999
Min. Investment
$251
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$2.46
Pre-Money Valuation
$40,077,336
Rolling Commitments ($USD)
Status
Active
Reporting Date
03/27/2023
Days Remaining
59
% of Min. Goal
140%
% of Max. Goal
2%
Likelihood of Max
Avg. Daily Raise
$599
# of Investors
24
Momentum
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Year Founded
2021
Industry
Farming & Agriculture
Tech Sector
Foodtech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Ponix, with a valuation of $40.08 million, is raising funds on StartEngine. It is a food utility company that uses its patented technology for indoor agriculture to grow fresh crops autonomously. The technology of Ponix uses 99% less fuel, 90% less water, and 95% less land and enables it to grow crops indoors without the impact of climatic conditions and seasons. Ponix has also been selected for a $5 million grant from the Biden-Harris Administration. Michael Hyon Choi and Patrick McGowan founded Ponix in May 2021. The current crowdfunding campaign has a minimum target of $14,998.62 and a maximum target of $1.23 million. The campaign proceeds will be used for research and development, company employment, inventory, working capital, and operations.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$149,290 |
$2,991 |
|
COGS |
$136,623 |
$6,806 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-33,541 |
$-7,171 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$134 |
$0 |
|
Accounts Receivable |
$134,838 |
$0 |
|
Total Assets |
$164,084 |
$22,126 |
|
Short-Term Debt |
$162,938 |
$48,466 |
|
Long-Term Debt |
$65,979 |
$68,279 |
|
Total Liabilities |
$228,917 |
$116,745 |
Financials as of: 02/20/2023
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Analyst Report
Pending Review
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