Reservoir
Early Stage
Safe + effective products with biotechnology to care for your home + body
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/10/2023
Close Date
09/20/2023
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$10,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
09/21/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2020
Industry
Beauty & Personal Care
Tech Sector
Retailtech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Reservoir, with a valuation of $10 million, is raising funds on Wefunder. The company uses its proprietary formulas to create safe and effective home and personal care products. The business uses innovative materials for its products, including microalgae, that make the products lather, calm, restore, cleanse, and hydrate. Reservoir has a partnership with a leading biotech company and an exclusive manufacturing relationship with leading eco-formulators. Jessica Samedi and Melinda Dean founded Reservoir in June 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for the first manufacturing run, hiring, and creative marketing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$800 |
$800 |
| ||
| ||
|
Net Income |
$-89,441 |
$-34,726 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$343 |
$1,001 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$343 |
$1,001 |
|
Short-Term Debt |
$33,513 |
$800 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$33,513 |
$800 |
Financials as of: 07/10/2023
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