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Security Type
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Debt/Note
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Categories
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Other
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Offering Date
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October 14, 2019
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Expected Close Date
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January 12, 2020
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Target Raise
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$150.00K-$450.00K
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Deal Notes
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$1.00 per share
5% of revenues
1.5X payback multiple
The company will pay investors 5% of revenues each quarter until 100% of your principal is returned plus 50% on top.
Company Description
We make affordable assistive products, starting with a groundbreaking supportive wheelchair for children with Cerebral Palsy and similar conditions.
Perks
$250+ for Bronze Investor - Gifts - Two super cute finger puppets of our mascot Milli the Meerkat, our Disability Awareness Coloring Book, and a Postcard from Colombia. The delightful and unique puppets are handmade in France. Big kids and small will love discovering different abilities and assistive products with our coloring book, created by the disability community and delivered by download.
$500+ Silver Investor - Exclusive Access and Naming Rights - Previous perks plus access to our private product development blog and a vote on the name of Product1.
$2,500+ Gold Investor - Sponsor A Wheelchair - Previous perks and you are sponsoring a chair for a child and building the company. You will receive a photo of the child who is receiving the chair that you are sponsoring.
$10,000+ Diamond Investor - Sponsor’s Trophy - Previous perks and you are sponsoring a chair for a child and building the company. You will receive a limited edition miniature of our wheelchair with a nameplate "Sponsored By Your Name". And, we'll attach a nameplate to an actual chair in Colombia and send you a photo so that you can meet the child.
Key Deal Facts
Delighted customers - Letters of Intent to buy 2,500 wheelchairs/year, $750,000 revenue.
Price advantage - our price $800 vs USA market price $2,300. And, our product is better.
Strategic manufacturing partnership - with Nissin Japan, the second largest wheelchair company in Japan
Product1 fills a gap - in the market and there are few competitors in this middle-market niche
Field trials demonstrate effectiveness - two complete and 17 booked
Strong team - 150 designs, 2 successful exits, and 100 yrs. of experience
A lasting company - our intent is a solution on the scale of the need that stays on track, guided by our Benefit Corporation status
Three successful crowdfunding campaigns and $224,000 raised from other investors
Lead Investor: Paul Noakes invested $100,000
Use of Proceeds
Tooling for Mass Production, Regulatory Filings, Research and Development, Founder Salaries, Marketing and Advertising, Wefunder Intermediary Fees
Management Team / Advisory Board Bios
Keoke King
CEO, President, Co-Founder
Sold 70,000 wheelchairs to 45 countries.
Dave Calver
CCO, Co-Founder
Trained wheelchair seating, a sub-specialty in Occupational Therapy, in 33 countries to 650 clinicians.
Wayne Hanson
Product Developer, Co-Founder
Founded and successfully exited three US wheelchair companies. An inventor who laid the foundation for the current pediatric wheelchair industry.
Deal Notes
$1.00 per share
5% of revenues
1.5X payback multiple
The company will pay investors 5% of revenues each quarter until 100% of your principal is returned plus 50% on top.
