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Security Type
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Debt
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Categories
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Retail, Technology, Healthcare & Medical, Community & Lifestyle
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Min Investment
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$100
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Offering Date
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October 24, 2021
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Expected Close Date
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April 30, 2023
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Target Raise
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$50.00K-$450.00K
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Security Price
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$1
- Number of Employees
- 5
- Cash
- $7,727
- Revenue
- $0
- Short Term Debt
- $150,614
- Cost of Goods
- $0
- Long Term Debt
- $311,232
- Net Income
- $-495,801
Company Description
At NEXT Boatworks, our mission is nothing less than the reintroduction of rowing, as a universal human activity, to the world. We will execute that mission by designing and building a new breed of rowing boats that defy both category and convention—boats that are accessible to anybody, on any body of water.
Key Deal Facts
The first American-Made coastal rowing boat builder.
The NEXT C1X, establishes NEXT Boatworks as the leader in coastal rowing boat design.
Pre-production sales of $118K, from Hong Kong to California to Maine.
$45Bn spent annually on small boats, human-powered.
Coastal-style rowing is the fastest-growing segment of rowing globally.
Coastal rowing expecting 2028 Olympics debut, driving interest and demand for coastal boats.
Bootstrapped $750k from founding team so far.
Management Team / Advisory Board Bios
Dennis Loebs
CEO, Co-founder
Serial small business owner and small boat addict. Design-focused and detail-driven. Creator of $75M+ accumulated value in the AEC space. Dennis gets things done.
Ben Booth
Co-founder, Boat Designer, Coastal Rowing Guru
An authority on coastal rowing and a member of US Rowing coastal committee, Ben is a pioneer in the sport. He was the first US athlete in the coastal world championships, and holds course records at home and abroad. Big wave rowing is his specialty.
Sinead Fitzgibbon
Advisor, board member
Racing coastal boats globally since 2018, representing USA in IRL, HK. Physiotherapist, coach, trainer. Fits bodies to boats, and boats to bodies.
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.