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Security Type
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Convertible Note
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Categories
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Retail
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Min Investment
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$100
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Location
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San Francisco, CA
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Offering Date
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June 30, 2021
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Expected Close Date
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April 30, 2022
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Target Raise
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$50.00K-$1.07M
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Security Price
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$1
Key Deal Facts
Launch in 2019 produced $1.7M in sales
Biosmart produces pain management and anti-anxiety formulas for clinical and retail distribution
BioSmart has a 3-year technology lead using high-pressure liquid chromatography for isolate extraction
BioSmart markets through it's own retail dispensaries, healthcare providers, pharmacies, affiliates, and internet sales
U.S. Market for non-steroidal OTC pain relievers is $21.9 B/yr. US CBD market is $4.7 B/yr.
Clinical dosing levels with CBD isolates produce similar results to OTC pain relievers without the side effects.
BioSmart collaborates with university and clinical researchers and is a member of Choose Wisely, a patient forum
BioSmart Research represents a responsible approach to improving quality of life and advancing cannabinoid research
Use of Proceeds
- ($50,000) 20% towards marketing expense, 7.5% towards WeFunder Fees, 40% to pay off existing equipment note, 20% to open a retail dispensary/distribution center, 12.5% for additional inventories, cash reserve and operating capital.
- ($1,070,000) 10% Additional funds for high-speed labeling & packaging equipment, 20% additional dispensaries, 15% additional marketing expenses, 15% for additional payroll, 10% for legal, accounting, & taxes, 15% for inventories, 7.5% cash reserve and operating capital, 7.5% Wefunder fee
Management Team / Advisory Board Bios
B Renee Searle, CEO
Renee has 40 years’ experience as an entrepreneur with 30 patents resulting in $60 MM in product sales. Her fields of research include biotechnology, electronics and cannabinoid research.
