Solstar Space
Pioneering the technology to create a 'space wide web'
Overview
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
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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