SlingFin

SlingFin

Early Stage

Building a world class outdoor brand starting from the top of Mt. Everest

Building a world class outdoor brand starting from the top of Mt. Everest

Overview

Raised this Round: Raised: $105,891

Platform

Wefunder

Start Date

05/16/2016

Close Date

12/19/2016

Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$2,500,000

Discount

0%

Year Founded

2010

Industry

Consumer Products, Goods & Services

Tech Sector

Hardwaretech

Location

Berkeley, California

SlingFin, with a valuation of $2.5 million, is raising funds on Wefunder. The company makes high-quality mountaineering and backpacking tents. SlingFin products are made to work in conditions where other equipment fails and can even be used to spend a night on Mt. Everest. The company has a loyal customer base and won the Gold Award at the 2013 Outdoor Friedrichshafen Show. Martin Zemitis founded SlingFin in February 2010. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used for inventory production, hiring, and increasing the margins.

Summary Profit and Loss Statement

FY 2015 FY 2014

Revenue

$112,399

$82,564

COGS

$80,098

$41,699

Tax

$0

$0

 

 

Net Income

$-144,819

$-51,274

Summary Balance Sheet

FY 2015 FY 2014

Cash

$1,534

$1,512

Accounts Receivable

$0

$0

Total Assets

$138,159

$48,801

Short-Term Debt

$58,778

$64,570

Long-Term Debt

$226,418

$0

Total Liabilities

$285,196

$64,570

Financials as of: 05/16/2016
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SlingFin on Wefunder 2016
Platform: Wefunder
Security Type: SAFE
Valuation: $2,500,000

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