Authentically American
Early Stage
High quality, 100% American-made apparel company, aiming to be the next iconic American brand
Overview
Raised: $499,700
Total Commitments ($USD)
Platform
NextSeed
Start Date
04/21/2020
Close Date
10/29/2020
Min. Goal
$100,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$7,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/31/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,630
# of Investors
291
Momentum
Funded
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Year Founded
1969
Industry
Apparel & Fashion
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
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 |
Financials as of: 04/21/2020
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