Advanced LED horticultural lighting technology for optimizing plant growthThe agricultural market is changing. Indoor grow lighting is poised to re-define how we grow food. This new market is about growing plants indoors in a controlled environment without pesticides, and lighting is a critical component. There are two rapidly growing markets in this sector; indoor growing of cannabis, and indoor vertical farming for growing food. By 2022, cannabis is expected to be a $24 billion market in the U.S. alone while Indoor vertical food farming is expected to grow to a $6 billion market. We believe there are three major problems with most current grow lights - they’re not designed for plants, they generate excessive heat, and they waste a tremendous amount of energy.Growgenics has created an... [Read More]
A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders.
November 02, 2018
January 31, 2019
The use of proceeds for expenses related to the Combined Offering is as follows:
Richard holds a degree in mechanical engineering and applied mechanics from the University of Rhode Island 1983. He is a technology centric entrepreneur with a business development flare. Richard is the developer of the technology under review. His in-depth experience includes a diverse 35+ year product development background with expertise in mechanical design, electronics, electro-mechanical design, industrial design, controls, software integration, technical program management, intellectual property, and agency regulations. He holds 14 patents in various high growth industries. He is well versed in business development, operations, strategic partnerships, complex program management, advanced product design, manufacturing, operations, and speed-to-market.
Chief Operating Officer
Robert Flynn was a Senior Executive in the publicly traded +$3 billion (USD) London-based Cookson Group plc of London from 1982 to 1996. He was President of the Key-Tech division that he acquired and subsequently sold to another European based company. He managed technology and manufacturing companies in England and the United States with a particular emphasis on startup and turnaround situations. Robert received his Bachelor of Arts degree in Economics from the University of Rhode Island in 1977. He attended the Graduate School of Arts and Sciences of Harvard University as a Special Student in 1982 and received a Master of Liberal Arts degree from the Harvard University Extension School in 1984.
Chief Technology Officer (Contractor)
Hamid Pishdadian has degrees in Mechanical and Electrical engineering. He is the technical leader and has been a co-developer of the technology under review. His diverse background includes mechanical, electronic, electro-mechanical design, sensor design & development, advanced motor controls, low cost electronic product development, pressure- temperature-flow sensing technology, control of advanced mechanical systems, lighting technology, and regulatory affairs / approvals. Hamid holds 13 patents and has developed products for markets that include HVAC, Sanitation, Industrial Controls, Satellite TV, Data Acquisition, and Power Management.
Round type: Seed Round size: US $1,000,000 Minimum investment: US $1,000 Target Minimum: US $500,000 Security Type: Crowd Note Conversion discount: 20.0% Valuation Cap: US $5,000,000 Interest rate: 5.0% Note term: 24 months Closing conditions: While Growgenics has set an overall target minimum of US $500,000 for the round, Growgenics must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to Growgenics's Form C. Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Raised to date: US $39,900 US $39,900 (under Reg CF only)
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