CLOSED
GET A PIECE OF COMO AUDIO, INC
Hellbent on building high-quality music systems on Main Street USA 🇺🇸
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$253,286.43 Raised
REASONS TO INVEST
TEAM
Thomas DeVesto • Como Audio Founder/Designer/CEO
Michael Cronin • Director / Consultant
Michael is currently on the Board of Directors of DISYS, capital Group, Xenon Arc, and dataCon in addition to Como Audio, Inc. He is Chairman of Harvard Student Agencies, a Director of Beth Israel Deaconess Medical Center Treasurer of the Harvard Club of Boston and a Trustee of Loeb Classical Library.
Michael consults for the company approximately one hour a week.
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Bob Brown • Director / Consultant
ABOUT
HEADQUARTERS
21 Drydock Avenue
Boston, MA 02210
WEBSITE
View Site
TERMS
Como Audio, Inc
Overview
PRICE PER SHARE
$1.25
DEADLINE
Jan. 23, 2021 at 7:59 AM UTC
VALUATION
$10.89M
FUNDING GOAL
$10K - $478.4K
Breakdown
MIN INVESTMENT
$250
MAX INVESTMENT
$107,000
MIN NUMBER OF SHARES OFFERED
8,000
MAX NUMBER OF SHARES OFFERED
382,720
OFFERING TYPE
Equity
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
COVID Relief
This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).
Expedited closing sooner than 21 days.
Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).
Voting Rights of Securities sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses*
Time-Based Perks
Friends and Family Early Birds
Invest within the first 72 hours and receive an additional 20% bonus shares
Early Bird Bonus
Invest within the first 10 days and receive an additional 15% bonus shares
Amount-Based Perks
Minimum $400 Investment
20% off a one-time purchase of Como Audio music systems*
Minimum $1,000 Investment
Receive 10% bonus shares and
25% off a one-time purchase of Como Audio music systems*
Minimum $2,000 Investment
Receive 15% bonus shares and
30% off a one-time purchase of Como Audio music systems*
Minimum of $5,000 Investment
Receive 18% bonus shares and
35% off a one-time purchase of Como Audio music systems*
Minimum of $10,000 Investment
Receive 20% bonus shares and
35% off a one-time purchase of Como Audio music systems*
Minimum of $50,000 Investment
Receive 25% bonus shares and
40% off a one-time purchase of Como Audio music systems*
Additional Perks
Additional 20% off any Como Audio product for current Como Audio product owners.**
Additional 20% off any Como Audio product for individuals who previously backed our Wefunder, Kickstarter, or Indiegogo campaigns. ***
*Product discounts are only valid when purchasing directly from comoaudio.com. Investor discounts cannot be combined with other promotions or used on products with already reduced prices. Investment discounts expire on 12/31/20.
**This offer is limited to individuals who are Como Audio product owners. This offer is limited to a one time use. The offer is non-transferable. Offer is limited to a maximum purchase value not to exceed $2,000 after discount. This offer is for customer use only and may not be used for resale.
***This offer is limited to individuals who previously backed Como Audio through our previous WeFunder, KickStarter or Indiegogo campaigns. This offer is limited to a one time use. The offer is non-transferable. Offer is limited to a maximum purchase value not to exceed $2,000 after discount. This offer is for customer use only and may not be used for resale.
The 10% Bonus for StartEngine Shareholders
Como Audio, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.25 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $125. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
*All perks occur when the offering is completed.
Irregular Use of Proceeds
ALL UPDATES
02.03.21
It's our 5th Birthday, and we couldn't ask for a better present than your review!
This February, we're celebrating five years of Como Audio! Since launching with Solo and Duetto in 2016, we've continued to grow, introducing new products every year that are now sold all around the world.
Our customers have backed our products through two successful Kickstarter campaigns, and many of you have even become investors in the company through our equity crowdfunding ventures.
As a small company, word of mouth is very important to us, and we'd like to ask you to share your honest feedback about our products and service. If you could leave a review of Como Audio on Amazon, Facebook, Google, or Trustpilot, it would be sincerely appreciated, or you can email your thoughts to us directly at info@comoaudio.com.
We couldn't be more grateful for the support, and we look forward to new products coming very soon.
01.22.21
Final Hours: Campaign Closes TODAY!
We're down to the wire! Our StartEngine campaign will close at midnight, so today is the very last day to invest. Every investment will help us continue to create jobs and develop new products here in the US.
We couldn't be more grateful to everyone who supported the campaign so far, and we're happy to have you on board as we work towards some exciting 2021 plans!
01.20.21
Last Days To Invest!
With a little over 48 hours left in our StartEngine campaign, the last days to invest are here. The campaign will close for good at the end of the day on Friday, January 22nd. We've had some new investors jump on board just in the last week, bringing our current raise total to $230K+ from almost 300 investors.
Don't forget that there are also a variety of perks available based on investment level that you can take advantage of, including product discounts, which are good through the end of 2021.
01.19.21
Closing Week!
Our StartEngine campaign will close this Friday, January 22nd. There's only three days left to invest, so if you've been thinking about making a contribution, don't miss your chance. With over $219K raised from 290+ investors, we've come a long way since the campaign launch, and we're looking to close on a high note. We have lots of exciting plans for 2021, including the introduction of some brand new products, and every single one of your investments will help.
01.12.21
$200K Milestone
With less than two weeks to go before the close of our StartEngine campaign, we’ve reached a very important milestone by crossing the $200K investment mark. We’d like to thank all of our investors and campaign supports who made this possible. Your investment will go a long way in helping us to introduce new products and maintain a strong staff of qualified technicians.
By reaching this milestone today, we were also able to secure our placement in a big StartEngine newsletter update which will run on January 19th. That will get us in front of many potential investors prior to the campaign closing on January 22nd. This was a big opportunity for us, and we really appreciate everyone who helped us make it possible.
Please continue to share the campaign throughout our final two weeks. After hitting this latest benchmark, we are inspired to continue building as much as we can before it closes.
01.07.21
Notice of Funds Disbursement
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Como Audio, Inc has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Como Audio, Inc be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
01.06.21
Time to hit a high note and invest in Como Audio by January 11th to keep the music coming
Como Audio has raised over $180K from 250+ investors, and there's only a few weeks left in our StartEngine Campaign. By hitting our $200K benchmark by January 11th, we can be included in a prime StartEngine newsletter that will help us reach many potential investors and launch our new product line of great sounding audio products including turntables at affordable prices.
01.04.21
2020 Sales Update + Closing Reminder
Hi All,
We hope you had happy holidays and that your 2021 is off to a great start!
Como Audio had an exciting year even in the face of the pandemic. Our direct to consumer sales - which include all business done on our website and Amazon - are up over 40% from last year.
Please note that these are preliminary numbers from the close of the year. They have not been officially reviewed or audited, and do not yet account for returns or international sales.
With a little less than three weeks to go before our StartEngine campaign closes, we're hoping to reach the $200K benchmark that we are working towards. If you haven't invested yet, the time to do so is now! If you have, please pass our campaign along to your friends and family who may be interested.
We appreciate the support and look forward to another exciting year.
11.24.20
Meet Como Audio
Como Audio has been able to accomplish so much thanks to hard work and the generous investors we’ve acquired so far. Now, we’d like to take it to the next level. Check out our brand new video to meet the Como Audio team and learn about the jobs that your investments have made possible. If you haven’t already, please invest in Como Audio by visiting our StartEngine campaign. Help us create more jobs and products here in the USA.
11.20.20
Notice of Material Change in Offering
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Como Audio, Inc offering. Here's an excerpt describing the specifics of the change:
Como Audio, Inc. is extending their campaign by 60 days.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
REWARDS
Venture Club
Venture Club Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$400
$400 Investment
20% off a one-time purchase of Como Audio music systems*
$1,000
$1,000 Investment
Receive 10% bonus shares + 25% off a one-time purchase of Como Audio music systems*
$2,000
$2,000 Investment
Receive 15% bonus shares + 30% off a one-time purchase of Como Audio music systems*
$5,000
$5,000 Investment
Receive 18% bonus shares + 35% off a one-time purchase of Como Audio music systems*
$10,000
$10,000 Investment
Receive 20% bonus shares + 35% off a one-time purchase of Como Audio music systems*
$50,000
$50,000 Investment
Receive 25% bonus shares + 40% off a one-time purchase of Como Audio music systems*
JOIN THE DISCUSSION
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Steven Gray
4 years ago
Como's StartEngine page says Tidal is supported, yet this has been removed from their website. I don't know which is the correct answer.
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Dirk Devos
4 years ago
How and when can I get my investment and eventual returns paid back?
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NORMAN UMBERGER
5 years ago
I noticed that Como is advertising a system at half-price, so much better discount than the investor perk...
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Gregory Pearson
5 years ago
These systems are spectacular. I recently got the Musica and love it madly! Great stuff.
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Max Dufour
5 years ago
I am looking at the 2 sales updates and it looks like the $ were removed to only show %. Since the revenues are already shown in $ in the SEC filing, would be it possible to get updates in both % and $? It is going in the right direction on the growth front, so sharing actual revenues, even unaudited would be helpful and positive news. Do you have any updates on profitability / net income?
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Thomas DeVesto
5 years ago
Hi Harriston, Our Music Systems retail from $299 to roughly $1,000 for a complete system. Many of our customers add several systems around the house and can play them from any room with our app. Our current turntable sells for $399. We have a lower priced unit coming out in a couple of months that doesn't have a bluetooth transmitter built in. Please check us out at www.comoaudio.com.
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Harriston Richardson
5 years ago
How much do these stereos sell for? i LOVE my vinyl Collection and Cassette Tapes, and WISH they would bring back 8 track tapes some kind of way. Please get back to me. Vinyl is making a comeback and it,s getting better so how is the market for their stereos in the US?
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Donald Kudler
5 years ago
Looking for information for inputting investor discount code into your website when making a purchase. Thank you. /s Donald Kudler
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Stephen Yoskowitz
5 years ago
Thomas, first, I'm very excited to be part of Como Audio's investor base. That having been said, I was an investor in your Wefunder round in mid-2019, in which I purchased shares for $2.50 per share at a pre-money valuation of $10mm. You're now raising funds at $1.25 a share at a $10.9mm valuation, despite all of your sales metrics going up year-over-year. Could you please explain why your price per share decrease of 50% with a marginal valuation increase?
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
FAQS
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000 are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, they are limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancellation period. Once the four-hour window has passed, it is up to each company to set their own cancellation policy. You may find the company’s cancellation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to be sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Tom DeVesto
Como Audio, Inc
•
4 years ago
Hi Steven. Currently, Musica supports Tidal. In fact, I am listening to it as I write this. The future is uncertain, which is why we removed references to Tidal from our website to try to avoid any misunderstandings if a change should catch us by surprise. This came up well after our Start Engine campaign was underway and we are unable to make edits to that detail. You are an investor (thank you!) so you have seen it on our campaign page, but most consumers go to our website which is consistent. We have been in contact with Tidal directly but they have yet to provide us with any guidance whatsoever despite repeated requests. Honestly, all we can say at this moment is Tidal is still supported by Musica. Beyond that, we have to wait and see what Tidal eventually advises.
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