Everyday Contacts
Early Stage
An affordable premium contact lens exclusively available from your Eye Doctor
Overview
Raised: $19,699
Total Commitments ($USD)
Platform
Wefunder
Start Date
02/16/2021
Close Date
01/26/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$1,000
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.45
Pre-Money Valuation
$7,370,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
01/30/2022
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$57
# of Investors
8
Momentum
Not Funded
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Year Founded
2018
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Everyday Contacts, with a pre-money valuation of $7.37 million, is raising crowdfunding on Wefunder. The company is introducing premium contact lenses with comfort coating. The daily disposable lenses are coated with hydrophilic coating and are available exclusively from eye doctors. Lawrence Chavez founded Everyday Contacts in 2018. The proceeds of the current crowdfunding raise, with a minimum target of $50,000 and a maximum target of $250,000, will be used towards the clinical trial. Everyday Contacts has a scalable business model and expects to grow the business to $20 million in revenues in two years after the launch. The product development has been completed and is pending clinical trial and FDA approval.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$750 |
$4,880 |
|
COGS |
$0 |
$0 |
|
Tax |
$5,328 |
$0 |
| ||
| ||
|
Net Income |
$-609,802 |
$-447,337 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$323,942 |
$32,486 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$350,443 |
$55,633 |
|
Short-Term Debt |
$40,458 |
$41,769 |
|
Long-Term Debt |
$0 |
$461,201 |
|
Total Liabilities |
$40,458 |
$502,970 |
Financials as of: 02/16/2021
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