A few items popped out at me as I reviewed the financial docs we received in May.
Salaries: How much and to whom? It looked like all the staff who were listed on this page left even before the raise was completed. (I base that on reading their LinkedIn profiles, which indicate they had all moved on to presumably other jobs.) If so, who was being paid? The CEO and who else?
Rent: What about the 10-year lease on the store? Did you get out of that? Or is the liability continuing until 2026?
Cash: The 2017 balance sheet indicates under Shareholder's Equity an amount for common stock of $1,000. Is this the extent of the founder's personal investment into the company?
Inventory: What is included in the more-than-1-million-dollars inventory level? I thought you were able to avoid such constraints by selling based on pre-orders.
Burn rate: Can you offer details as to what the funds raised in November 2017 were used for? I ask because as of the end of April -- a mere 5 months later -- it appears to be gone.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 233 startups
Wefunder Advisors LLC
for 98 startups
for 1 startup
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
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