GeoToll

GeoToll

Mobile Automatic Payment Solutions for Worldwide Tolling

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Security Type
Convertible Note
Categories
Other
Min Investment
$250
Location
Cooper, FL
Offering Date
December 08, 2020
Expected Close Date
March 18, 2021
Target Raise
$50.00K-$250.00K
Deal Notes

One-for-one stock option award incentive with a 5 year expiration and $2.00 per share exercise price. 

Investors will receive these bonus stock options at no additional cost which provides the investor with the right but not the obligation to purchase shares for up to 5 years at a fixed price of $2.00 per share.

Company Description

GeoToll pays your tolls using only your phone. Simply download our app, enter your vehicle and payment information, and start driving! Whether you are driving your own car, a friend's car, or a rental, just drive through the toll gantry with your phone on. For tolling agencies, GeoToll means fewer misses (100% accuracy) and cost savings. For drivers, GeoToll means unprecedented convenience, no cash lane waiting, and unique features like expense reporting, trip planning, and carpool toll sharing.

Our 5-year goal is to become the go-to method for tolling payments. To start, we are piloting with leading tolling agencies to prove our benefit to customers and agencies alike. Next, we plan to expand across the US and even abroad. We are open to exploring strategic partnerships in 2 to 3 years to provide liquidity for our early investors. Finally, we patented a range of other applications for our tech, such as parking garages, parking meters, and anywhere location is needed to confirm payment. These are forward looking projections and are not guaranteed.

GeoToll holds several patents, all owned by company founders. GeoToll's patents can be viewed here: https://tinyurl.com/yxa6qfla

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Perks

Invest $250+ for $50 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$500+ $75 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$1,000+ $125 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$10,000+ $250 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
Invest $250+ for $50 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$500+ $75 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$1,000+ $125 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.
$10,000+ $250 Toll Credits *Toll credits are not currently usable, but will be redeemable when GeoToll software is adopted for automatic electronic tolling (AET) in your city or a city in which you drive at any point. At that time, you will be able to drive on toll roads for no charge until your toll credits run out.

Key Deal Facts

We developed unique, patented GPS technology for mobile payment of tolls.
When combined with our app, GeoToll’s tech is 99.999% accurate, surpassing current tolling tech.
We address a pain point in the $25B toll industry – expensive, outdated RFID-based tolling tech.
Our management team has had several 8-figure start-up exits with billion dollar companies.
Our CTO introduced GPS at Motorola with unique implementation patents, adding $4B to the business.
We are pilot tested by major tolling agencies and ready to deploy in 2021.
The industry knows mobile tolling is the “next big thing” and transponders will become obsolete.

Use of Proceeds

$50,000 

  • Product development and completion of pilot test projects that we currently have underway (50%)
  • sales and marketing (32.5%)
  • G&A/operations (10%)
  • WeFunder fees (7.5%)

$250,000

  • Product development and completion of pilot test projects that we currently have underway (20%)
  • sales and marketing (40%)
  • recruiting and onboarding industry experts (10%)
  • G&A/operations (4%)
  • WeFunder fees (7.5%)
  • improvement of app and back-office technology (10%)
  • expanding to toll agencies across the United States and abroad (8.5%)

Management Team / Advisory Board Bios

Wyatt Geist
Chairman & Founder
Serial entrepreneur with track record of inventing, developing, and launching disruptive technology products. Multiple successful business sales to Fortune 500 companies.

Jaime Borras
CTO / Founder
Former Motorola Senior Fellow and pioneer in the wireless telecommunications industry with over 70 U.S. utility patents granted. 3-Time “Patent of the Year” winner.

Richard Carrier
CEO
Founder/CEO of Law Enforcement Systems, a collection services and information provider which serviced over 25 toll agencies. 20+ years of experience in the tolling industry.

Ray Johnson
CFO
Extensive CEO and CFO experience in launching, scaling, and selling high technology companies.

Deal Notes

One-for-one stock option award incentive with a 5 year expiration and $2.00 per share exercise price. 

Investors will receive these bonus stock options at no additional cost which provides the investor with the right but not the obligation to purchase shares for up to 5 years at a fixed price of $2.00 per share.

Amount Raised : $0
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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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