Lockedbrands

Lockedbrands

Smart Lockbox Systems that Make Communities and Households Safer

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Security Type
Convertible Note
Min Investment
$250
Location
Rockwall, TX
Offering Date
August 03, 2020
Expected Close Date
December 02, 2020
Target Raise
$150.00K-$1.07M

Company Description

LockedBrands is a purpose driven company with the single goal of providing real solutions for the opioid and prescription drug abuse problem in this country. 

In about 4 years we hope to sell in the 2024/2025 timeframe to a competitor, strategic partner or a new player in the Home Automation or Health Care industry.

Perks

Invest $250+ for 23% discount on up to 5 Pillars
$500+ Additional 7% discount on up to 5 Pillars for a total of 30% discount
$1,000+ Free Pillar Plus 30% discount on up to 5 Pillars
$2,000+ Free Pillar with cable lock plus a 30% discount on up to 5 Pillars
$5,000+ Free customized Pillar with cable lock plus a 30% discount on up to X Pillars
$10,000+ A second free customized Pillar with cable locks, plus a 30% discount on up to 5 Pillars
Invest $250+ for 23% discount on up to 5 Pillars
$500+ Additional 7% discount on up to 5 Pillars for a total of 30% discount
$1,000+ Free Pillar Plus 30% discount on up to 5 Pillars
$2,000+ Free Pillar with cable lock plus a 30% discount on up to 5 Pillars
$5,000+ Free customized Pillar with cable lock plus a 30% discount on up to X Pillars
$10,000+ A second free customized Pillar with cable locks, plus a 30% discount on up to 5 Pillars

Key Deal Facts

A real solution to the opioid and prescription drug abuse epidemic.
Reach a market of over 58 million Americans.
In-production Gen 1 generating sales now.
Gen 2 features Software-as-a-Service (SaaS) and compliance data revenue streams.
33% cost reduction since Q2 2019.
Team of senior tech leaders, doctors, entrepreneurs with 120 years combined relevant experience.
IP protection: Utility patents and CIPs filed.
Marketing plan on schedule and showing strong signs of pandemic recovery

Use of Proceeds

If $150,000 is raised

  • CAMPAIGN FEES:  Approximately 25% goes to 1.  WeFunder (7.5%); 2.  Marketing/social media ads for the campaign; 3.  Other misc fees. INVESTMENT FOR GROWTH:  PILLAR RELATED:  Of the net proceeds (75%), 34% will be used for Pillar Sales & Marketing, including a Community Manager SECURE MED MANAGER (SMM) RELATED:  41% will go towards Secure Med Manager Requirements definition and beginning detailed design.

If $1,070,000 is raised

  • CAMPAIGN FEES:  Approximately 20% (worst case) goes towards 1. WeFunder fee, (7.5%); 2.  Marketing/social media ads for the campaign; 3.  Other misc. fees.  INVESTMENT FOR GROWTH:   PILLAR RELATED: (28% of Total) 25% for Pillar Sales & Marketing, including a Community Manager; 3% for Pillar product development; (Note: This budget contains a 10% contingency) SECURE MED MANAGER (SMM) RELATED: (38% of Total) 6% for Requirements definition and 32% for Detailed Design and Prototype Development. (Note: This budget contains a 11% contingency)  PRODUCTION MOVE OUT OF CHINA Total of 8% or $90,000 to move production out of China.   WORKING CAPITAL:  6% of total If we are more efficient during the campaign (ie less than 19% on campaign fees) the additional funds will be split across all tasks.

Management Team / Advisory Board Bios

Justin Monger - Founder and CEO
Drove recovery of the $1.5B ASTOR for Raytheon. It had suffered a two+ year schedule slip & $100M+ of cost growth. Under his leadership, they negotiated a new delivery schedule, re-evaluated the tech baseline, and eliminated cost growth.

David Lee - Chief Engineer
Over 40 years with Intel, TI & other engineering companies. Established manufacturing capabilities for a fabless startup. Grew capacity to ~1M/month. Defined and managed Planning, Production Control, Quality, & Sustaining Engineering functions.

Fred Fletcher - National Director of Sales & Marketing
A proven entrepreneurial track record in healthcare & commercial real estate. Expert at raising capital, building organizations, and direct marketing & distribution strategy. Fred has closed over $500 million in commercial real estate deals.

Randy Heinrich - Director of Operations
Optimized 10,000 sq ft mfg floor layout for new production equipment that maximized material flow and increased production by 20%. Acquired tools & created assembly and packaging processes that improved output by 40%.

John Proffer - Software Architect
Proffer has been designing and building scalable infrastructure, platforms and services for startups and established companies for over 20 years.

Bruce W Nunnally - Fractional CFO
Bruce has 32 years in Aerospace & Defense in manufacturing, business capture, and pricing. He brings 20 years experience in forum hosting, brand advocacy, and social media. He has developed, packaged, and sold products into multiple markets.

Aruni Ellepola - CBO & China Trade Regulations Analyst
Recent Magna Cum Laude graduate of Univ. of Texas at Arlington with a BS in Economics & a BA in Political Science.
Amount Raised : $193,815
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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