Republic Note
Republic's own digital security: a profit-sharing instrument with finite supply
Overview
Raised: $3,000,000
Total Commitments ($USD)
Platform
Republic
Start Date
02/06/2023
Close Date
02/28/2023
Min. Goal
$600,000
Max. Goal
$3,000,000
Min. Investment
$60
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$0.12
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/04/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$142,857
# of Investors
1,177
Momentum
Funded
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Year Founded
2019
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Republic Note is raising funds on Republic. It is Republic’s own digital currency used as a profit-sharing instrument with the investors. Republic Note has a finite supply and gives the investors a share in the profit when selected Republic portfolio companies succeed. Whenever a company in which Republic has invested makes an exit, a portion of the cash proceeds accrues to Republic Notes and distributions are made to the note holders when the accrual reaches $2 million. Kendrick Nguyen, Paul Menchov, and Peter Green founded Republic in 2016. The current crowdfunding campaign has a minimum target of $600,000 and a maximum target of $3 million. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$1,629,853 |
$109,520 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-4,381,248 |
$-11,670,080 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$3,753,009 |
$3,486,798 |
|
Accounts Receivable |
$309,104 |
$13,236 |
|
Total Assets |
$13,365,923 |
$7,158,794 |
|
Short-Term Debt |
$6,660,782 |
$316,937 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$6,660,782 |
$316,937 |
Financials as of: 02/06/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Republic Note | 11/01/2023 | Republic | - | $824,522 | Revenue Share | Funded | RegD 506(c) |
| Republic Note | 04/29/2023 | Republic | - | $2,020,811 | Revenue Share | Funded | RegCF |
| Republic Note | 02/27/2023 | Republic | - | $3,000,000 | Revenue Share | Funded | RegCF |
| Republic Note | 02/27/2023 | Republic | - | - | Revenue Share | Funded | RegD 506(c) |
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