Authentically American

Neutral
BETA

High quality, 100% American-made apparel company, aiming to be the next iconic American brand

Analytics

Raised to Date: $499,700

Aggregate Commitments $
Platform

NextSeed

Start Date

04/22/2020

Close Date

10/29/2020

Min. Goal

$100,000

Max. Goal

$500,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$7,500,000

Discount Rate

20%

Weekly Commitments $
Status
Funded
Reporting Date

10/28/2020

Days Remaining
Funded
% of Min. Goal

500%

% of Max. Goal

100%

Likelihood of Max
Funded
Avg. Daily Raise

$2,630

# of Investors

291

Momentum
Funded
Location

Brentwood, TN

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Life Style

Authentically American, with a valuation cap of $7.5 million, is raising funds on NextSeed. It is an apparel company that makes high-quality and 100% American-made apparel. The company aims to bring textile jobs back to America and create high-quality garments. The offerings of Authentically American include stylish polo shirts, quarter zip, pullover, full-zip jackets, and t-shirts. Authentically American was founded by Dean Wegner and Kelly Wegner in 2017. The current crowdfunding round has a minimum target of $100,000 and a maximum target of $500,000, and the funds will be used towards working capital, inventory, B2B advertising, consumer brand advertising, and hiring of a new sales manager. Authentically American garments are competitively priced, with a gross margin of 39.5%. The company reported a 316% growth in revenue in the first quarter of 2020 compared to the first quarter of 2019.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$637,826

$419,420

COGS

$515,268

$303,524

Tax

$3,757

$1,650

 

 

Net Income

$-838,702

$-499,462

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$35,367

$17,927

Accounts Receivable

$129,146

$31,872

Total Assets

$192,530

$53,999

Short-Term Debt

$0

$0

Long-Term Debt

$171,886

$0

Total Liabilities

$171,886

$0

Ratings

last updated 10/29/2020

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