Ponix

Ponix

Early Stage

The Food Utility Company

The Food Utility Company

Overview

Raised to Date: Raised: $20,985

Total Commitments ($USD)

Platform

StartEngine

Start Date

02/19/2023

Close Date

05/04/2023

Min. Goal
$14,999
Max. Goal
$1,234,999
Min. Investment

$251

Security Type

Equity - Common

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.46

Pre-Money Valuation

$40,077,336

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

05/03/2023

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

$287

Momentum
Not Funded
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Year Founded

2021

Industry

Farming & Agriculture

Tech Sector

Foodtech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Atlanta, Georgia

Business Type

Growth

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

FY 2022 FY 2021

Revenue

$351,485

$149,290

COGS

$82,927

$136,623

Tax

$0

$0

 

 

Net Income

$33,032

$-33,541

Summary Balance Sheet

FY 2022 FY 2021

Cash

$27,904

$134

Accounts Receivable

$0

$134,834

Total Assets

$79,092

$164,084

Short-Term Debt

$27,689

$162,938

Long-Term Debt

$80,019

$65,979

Total Liabilities

$107,708

$228,917

Financials as of: 02/19/2023
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Ponix on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $40,077,336
Price per Share: $2.46

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