RainGlobes
Early Stage
"RainGlobes - It's the globe that rains!"
Overview
Raised: $2,418
Total Commitments ($USD)
Platform
StartEngine
Start Date
06/13/2023
Close Date
08/11/2023
Min. Goal
$9,999
Max. Goal
$1,234,995
Min. Investment
$248
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$4.95
Pre-Money Valuation
$5,247,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
08/12/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$41
# of Investors
6
Momentum
Not Funded
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Year Founded
2022
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
RainGlobes, with a valuation of $5.25 million, is raising funds on StartEngine. The company makes and sells unique globes that simulate rain inside a globe. RainGlobes offers a fun twist on the traditional snow globes and is more relatable as it rains more places than it snows. The business is led by an experienced team and has sold 75,000 globes worth $1.5 million to date. Joshua James, Fred Northup, Jr., and Scott Larson founded RainGlobes in October 2022. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.23 million. The campaign proceeds will be used for research and development, working capital, intellectual property, inventory, and company employment.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$69,805 |
$60,996 |
|
COGS |
$61,354 |
$42,937 |
|
Tax |
$0 |
$1,016 |
| ||
| ||
|
Net Income |
$-79,956 |
$-1,242 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$7,028 |
$15,579 |
|
Accounts Receivable |
$17,897 |
$12,756 |
|
Total Assets |
$128,824 |
$144,555 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$222,339 |
$186,056 |
|
Total Liabilities |
$222,339 |
$186,056 |
Financials as of: 06/13/2023
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