Modvans

Multipurpose camping vehicles for family, work and play.

Security Type: Common Stock
Categories: Technology, Travel, Retail, Community & Lifestyle, Transportation & Storage
Min Investment: $250
Location: Oxnard, CA
Offering Date: November 13, 2020
Expected Close Date: April 30, 2023
Target Raise: $50.03K-$4.80M
No. Investors: 113
Security Price: $31
Deal Notes: Price per Share: $11.00
Valuation: $69,372,000
Website: modvans.com

Number of Employees: 20
Cash: $15,993
Revenue: $3,504,390
Short Term Debt: $740,147
Cost of Goods: $4,023,830
Long Term Debt: $196,551
Net Income: $-1,746,672

Company Description

ModVans builds multipurpose camping vehicles for family, work and play. Our CV1 camper van comes standard with safe, comfortable seating for 5 passengers, 2 beds and removable RV components. We have high demand and are in production with over 50 vehicles delivered to customers all across the US.The CV1 camper van is the only mass production, multipurpose “soccer mom” compatible RV with good MPG, easy driving and parking, safe and comfortable 2nd row seats and slick enough styling for mass market appeal. Our goal is to acquire part of the market for SUVs, pickup trucks and minivans, currently worth over $1 trillion/year in the US.

Key Deal Facts

$1T Market: SUV/Pickup Truck/Minivan/RV Replacement
Proven Demand: $12M deposit backed reservations, $6M signed sales orders, $3.6M revenue
Proven Operations: 50+ Customer Deliveries, Building 6 CV1s/month (and growing fast)
Competitive Advantages: 3+ Patents Pending, Rapid Design, MRP, Direct to Consumer Sales

Use of Proceeds

$50,004

10% RegCF Legal
20% RegCF Marketing
62.5% COGS Inventory
7.5% Wefunder intermediary fees

$400,000

1% RegCF Legal
20% RegCF Marketing
6% Website Overhaul
18% Marketing Videos
25% Future RegA+ Legal&Accounting
13% Future RegA+ Marketing
9.5% COGS Inventory
7.5% Wefunder intermediary fee

Management Team / Advisory Board Bios

Pj Tezza
Co-Founder/CEO
20+ years experience in start-up and early stage technology companies, multiple successful exits

Laurie Tezza
Co-Founder/Ops Director
MBA, 20+ years experience in start-ups

Jt Aupetit
Chief Engineer
BS Mechanical Engineering, UC Berkeley, MS Aerospace Engineering, CU Boulder

Chris Middleton
Production Supervisor
25 Years of Manufacturing, Former Director of Western Operations for GM

Deal Notes

Price per Share: $11.00

Amount Raised : $91,079

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Security Description

Common stock is a security that represents ownership in a corporation.

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