Open Box Buy

Open Box Buy

Discount Retail Store

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Security Type
Convertible Note
Categories
Other
Min Investment
$250
Location
Henderson, NV
Offering Date
January 15, 2019
Expected Close Date
April 17, 2019
Target Raise
$10.00K-$1.07M
Deal Notes

Maturity Date: December 31, 2020

Discount Rate: 20.0%

Annual Interest Rate: 10.0%

Company Description

We are excited to introduce OPEN BOX BUY (OBB), which is to our knowledge, the first ever deep-discount retail store that specializes in big-name brand and open box consumer electronics, as well as large and small appliances, video games; housewares; toys; sporting goods; tools; BBQ; outdoor, patio, and small furnishings. If you are looking for hard goods and consumer durables for your office or home, at a price that cannot beat, then Open Box Buy is the solution!

Perks

Invest from Day 1-7 and get a 20% Bonus of shares on conversion
Invest from Day 8-14 and get a 15% Bonus of shares on conversion
Invest from Day 15-21 and get a 10% Bonus of shares on conversion
Invest from Day 22-28 and get a 5% Bonus of shares on conversion

Key Deal Facts

The discount retail secondary market is exploding, as evidenced by the fact that TJX Companies ($27.40 Billion US Sales) and Dollar General ($23.47 Billion US Sales) rank among the top-20 largest U.S. retailers in sales volume according to Business Insider.
OBB’s CEO has over 20 years of business experience, successfully leading two businesses from start-up to an eventual sale, one of which was a public exit.
Every aspect of the business, from reselling products to using refurbished office hardware, is some form of recycling or repurposing.

Use of Proceeds

Intermediary Fees: 6%

Working Capital: 94% - 49%

Marketing: 10%

Short Term Debt: 35%

Management Team / Advisory Board Bios

Rich Marino - CEO, Founder and Director
Rich Marino is Open Box Buy’s founder and CEO. Rich has over 20 years of business experience and has successfully led two businesses from start-up to an eventual sale of the companies with one being in the form of a public exit. He started OBB in 2008 from his garage selling open box and refurbished items on eBay and Amazon with great success. Becoming a PowerSeller in no time, he expanded to a 5,000 square foot warehouse in 2010, and eventually to his first 35,000 square foot retail location in 2012. He is now offering an opportunity for a few investors to help fund the opening of his new Las Vegas store.

Deal Notes

Maturity Date: December 31, 2020

Discount Rate: 20.0%

Annual Interest Rate: 10.0%

Amount Raised : $184,865
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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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