Solstar Space

Early Stage

Pioneering the technology to create a 'space wide web'

Overview

Raised to Date: Raised: $1,042,460

Total Commitments ($USD)

Platform

Wefunder

Start Date

06/26/2020

Close Date

01/14/2021

Min. Goal

$50,000

Max. Goal

$535,000

Min. Investment

$100

Security Type

SAFE

Series

Seed

Funding Type

RegCF

Valuation Cap

$8,000,000

Discount Rate

15%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

01/31/2021

Days Remaining
Funded
% of Min. Goal

2,085%

% of Max. Goal

195%

Likelihood of Max
Funded
Avg. Daily Raise

$5,161

# of Investors

2,208

Momentum
Funded
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Location

Santa Fe, New Mexico

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

High Growth

Solstar Space Company, with a valuation cap of $8 million, is raising funds on Wefunder. The company is tapping the market of secure space communication and creating the space wide web. The technology will allow private companies and researchers to communicate with space assets in a modern and convenient manner. Solstar Space Company was founded by M. Brian Barnett in 2017 and has raised over $500,000 since its inception. The current round of crowdfunding has a minimum target of $50,000 and a maximum target of $535,000, and the funds will be used for the development of software apps, small sat space communicators, and space station routers. Solstar Space Company has a Space Act Agreement with NASA and has already demonstrated the first commercial WiFi hotspot in space.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$547

$600

 

 

Net Income

$-274,699

$-244,620

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$24,269

$33

Accounts Receivable

$0

$0

Total Assets

$24,269

$81,010

Short-Term Debt

$12

$2,997

Long-Term Debt

$451,331

$230,388

Total Liabilities

$451,343

$233,385

Financials as of: 06/26/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Solstar Space 03/11/2022 Wefunder $12,000,000 $1,533,774 SAFE Funded RegCF
Solstar Space 01/14/2021 Wefunder $8,000,000 $1,042,460 SAFE Funded RegCF
Solstar Space 01/12/2019 Wefunder $7,500,000 $338,385 SAFE Funded RegCF
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Solstar Space Company on Wefunder
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Platform: Wefunder
Security Type: SAFE
Valuation: $8,000,000
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