Industry:
General

Security Type:
Crowd Note
A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

Equity Opportunity

Date Filed:
January 01, 0001

Date Expires:
January 22, 2021

Valuation Cap:
$10M

Platform:
Microventures

Use of Proceeds

• General marketing (15%)
• Manufacturing (26%)
• Equipment purchases (5%)
• Repayment of debt (12%)
• Administrative overhead (16%)
• Cash reserves (26%)

Management

Randall C. Huntsinger
Co-Founder and CEO
Randall is responsible for Brakes To Go’s administrative affairs, which include being the company’s financial officer and corporate general counsel. Randall is a twenty-year attorney with a broad range of corporate operational and litigation experience.  Prior to founding Brakes To Go, Randall was general counsel for a private energy services company, and was also employed as an attorney at Godwin Gruber, P.C., in Dallas, and an Assistant Attorney General in Austin before that. He is a member of the State Bar of Texas and the U.S. District Courts for the Eastern, Western, Northern, and Southern Districts of Texas, as well as the U.S. Court of Appeals for the Fifth Circuit in New Orleans. He holds a Juris Doctorate law degree from the University of Houston Law Center and a Bachelor of Business Administration undergraduate degree in accounting from the McCombs School of Business at the University of Texas at Austin.

Jonathan R. Ganther
Co-Founder and COO
Jonathan directs and manages all service operations for Brakes To Go. He takes a hands-on approach to customer service, personally taking customer calls, scheduling appointments, and even handling service appointments if circumstances require. Jonathan trains and directs all newly hired technicians, each of whom he personally selects. Jonathan graduated from Wyoming Technical Institute (WyoTech) in Laramie, Wyoming in September of 2010. He earned an associate degree in Automotive Technology and graduated in the top 5% of his class. He maintains an A-5 Brakes ASE certification.

Deal Structure

$1.00 per share

30% discount

Deal Perks

• Investors that purchase the first 50,000 Crowd Notes, and thereby fund the first $50,000, will receive Crowd Notes with a conversion provision based on a $9 million valuation cap instead of a $10 million valuation cap. That means, in connection with equity financing of at least $1,000,000, the company has the option to convert the Crowd Note into non-voting preferred shares (Conversion Shares) at a price based on the lower of (A) a 30% discount to the price per share paid for Preferred Shares by investors in the Qualified Equity Financing or (B) the price per share based on a $9 million valuation cap (instead of $10 million).

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Key Deal Facts

• Total gross revenues of $5.6M since commencing operations in May 2015
• Reached profitability in fiscal-year-end (FYE) 2019
• 24% year-over-year increase in sales from FYE 2018 to FYE 2019
• Amassed a Five-Star Yelp rating (based on 450 reviews),i a 4.8-Star Google rating (based on 212 reviews),ii and 4.9-Star Facebook rating (based on 118 customer reviews) as of July 2019iii

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