Trueline
Early Stage
Multi-capacity music venue
Overview
Raised: $5,000,000
Total Commitments ($USD)
Platform
Vicinity
Start Date
07/30/2023
Close Date
12/31/2023
Min. Goal
$2,500,000
Max. Goal
$5,000,000
Min. Investment
$1,000
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$5,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$32,680
Momentum
Funded
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Year Founded
2023
Industry
Media, Entertainment & Publishing
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Trueville is raising funds on Vicinity. The company is developing a live entertainment venue to enhance Greenville’s arts and music scene. Trueville has selected the site for the entertainment venue, secured city approvals, and the development is underway. The venue will include a 1,700-capacity main hall, an intimate performance room, VIP lounges, and multiple bars and aims to curate a list of events, including dance parties, festivals, underplays, multi-days, and other unique experiences. Michael Grozier founded Trueville in June 2021. The current crowdfunding campaign has a minimum target of $2.5 million and a maximum target of $5 million. The campaign proceeds will be used for construction costs and miscellaneous costs.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$20 |
$103 |
| ||
| ||
|
Net Income |
$-289,880 |
$-172,251 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$0 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$3,061,204 |
$3,145,269 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$3,523,335 |
$3,317,520 |
|
Total Liabilities |
$3,523,335 |
$3,317,520 |
Financials as of: 07/30/2023
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