Project M
Growth Stage
#1 E-commerce platform for tattoo and heavy metal lifestyles
Overview
Raised: $340,386
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/26/2021
Close Date
04/30/2021
Min. Goal
$49,978
Max. Goal
$1,069,993
Min. Investment
$100
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$24.19
Pre-Money Valuation
$22,503,389
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$3,660
# of Investors
251
Momentum
Funded
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Year Founded
2016
Industry
Media, Entertainment & Publishing
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Project M, with a pre-money valuation of $22.5 million, is raising funds on Wefunder. It is a portfolio of brands focusing on heavy metal and tattoos. The company operates digital and print media properties to serve content to the fans. It sells events, merchandise, studio content, and more. Enrique Abeyta Ubillos founded Project M in 2016 and has raised over $7 million since the inception. The proceeds of the current crowdfunding campaign, with a minimum target of $49,978 and a maximum target of $1,069,993, will be used for adding SKUs to existing stores, hiring more staff, creating new content, and adding inventory. Project M owns the number one brands in heavy metal (Revolver), tattooing (Inked), and music comedy (The Hard Times).
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$922,745 |
$742,220 |
|
COGS |
$654,329 |
$671,143 |
|
Tax |
$50,762 |
$62,693 |
| ||
| ||
|
Net Income |
$-1,186,497 |
$-2,021,563 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$60,313 |
$47,239 |
|
Accounts Receivable |
$60,313 |
$119,592 |
|
Total Assets |
$684,572 |
$715,727 |
|
Short-Term Debt |
$609,967 |
$194,625 |
|
Long-Term Debt |
$5,337,073 |
$4,597,073 |
|
Total Liabilities |
$5,947,040 |
$4,791,698 |
Financials as of: 01/26/2021
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