Princeton Satellite Systems
Early Stage
Fusion Engines for Satellites and Beyond
Overview
Raised: $55,532
Total Commitments ($USD)
Platform
Spaced Ventures
Start Date
11/25/2022
Close Date
04/30/2023
Min. Goal
$100,000
Max. Goal
$1,235,000
Min. Investment
$150
Security Type
Convertible Note
Series
Seed
Funding Type
RegCF
Valuation Cap
$12,000,000
Discount Rate
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/02/2023
Days Remaining
87
% of Min. Goal
56%
% of Max. Goal
5%
Likelihood of Max
Avg. Daily Raise
$805
# of Investors
46
Momentum
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Location
Plainsboro, New Jersey
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Princeton Satellite Systems, with a valuation of $12 million, is raising funds on Spaced Ventures. The company has created a fusion reactor that doubles as a fusion rocket for space applications. The product, PFRC, includes fusion propulsion and power in one device to transform deep space missions with increased payload, reduced trip time, and 200 times more available power. Princeton Satellite Systems has received NASA NIAC funding, and three DOE INFUSE awards in 2022. Michael Paluszek founded Princeton Satellite Systems in September 1992. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used to match federal investment and gather critical data for designing the next-gen superconducting machine.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$562,491 |
$801,450 |
|
COGS |
$400,966 |
$401,166 |
|
Tax |
$500 |
$500 |
| ||
| ||
|
Net Income |
$-102,636 |
$51,191 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$25,344 |
$66,851 |
|
Accounts Receivable |
$19,262 |
$105,145 |
|
Total Assets |
$202,125 |
$332,836 |
|
Short-Term Debt |
$168,392 |
$196,467 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$168,392 |
$196,467 |
Financials as of: 11/25/2022
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