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Security Type
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CAFES
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Categories
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Retail, Consumer Goods & Products, Entertainment, Financial Services, Community & Lifestyle, Sports & Fitness
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Min Investment
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$100
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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-$1.07M
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No. Investors
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190
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Security Price
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$1
- Number of Employees
- 12
- Cash
- $131,636
- Revenue
- $8,180,488
- Short Term Debt
- $1,609,527
- Cost of Goods
- $3,306,100
- Long Term Debt
- $0
- Net Income
- $-1,725,997
Key Deal Facts
⭐️ Led by Forbes 30 Under 30 Owners who have the Passion for Building America's Next Great Sport
💰 Over $24M in Sales
🚀 100,000+ Active Players
📦 Retail Distribution in 3000+ Doors
🔑 Cash Flow Positive
🏫 Played in over 10,000 Schools
🌍 Sold Internationally in 47 Countries
📺 As seen on ESPN, People Magazine, Good Morning America, QVC and more!
Management Team / Advisory Board Bios
Gregory Meade Co-Founder & Chief Executive OfficerGreg is a Forbes 30 Under 30 Honoree in the Sports Category who is leading his second 7 figure business. He sets the vision for the dream team at CROSSNET to create the biggest backyard game in the world., Chris Meade Co-Founder & Chief Marketing OfficerChris is an Ecommerce nerd & Forbes 30U30 Honoree who has built one of the fastest growing newsletters in the space. He drives the bus at CROSSNET while he continues to land some of the largest retail stores like Walmart, Sam's Club, & Dicks., Michael Delpapa Co-Founder and Product Specialist Mike is a Northeastern University engineering graduate and Forbes 30 Under 30 Honoree who developed the first ever CROSSNET. He led operations for the first 3 years as COO and now continues to lead the product development for the business., Christopher Koop Chief Finance OfficerBefore joining CROSSNET, Chris worked at PWC on projects for some of the largest banks, investment firms and insurance companies in the world. He is the Finance and Compliance genius behind the books of CROSSNET., Alexander Reynolds Chief Operations OfficerAlexander "aka" Sander, has spent the past 25 years in the sporting goods, product development and operations space. He is a creative leader who is the inventor of over 20 patents and now leads Operations and Product Development at CROSSNET.
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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
A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.