LYC Products
Early Stage
We connect people and companies to wellness activities, services and products.
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
12/16/2020
Close Date
03/10/2021
Min. Goal
$100,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$4,000,000
Valuation Cap
$5,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/09/2021
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2018
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
LYC Products, with a $5 million valuation cap, is raising funds on Wefunder. The company is building a community platform for people to create wellness awareness and connect with like-minded individuals. The platform helps companies in improving the wellness of their stakeholders, lowing costs, and supporting their social responsibility programs. Anthony Ferguson founded LYC Products in 2018 and has raised over $160,000 since its inception. The current crowdfunding round has a minimum raise of $100,000 and a maximum raise of $500,000, and the funds will be used for marketing, salaries, app development, and rent and platform maintenance cost. LYC Products is led by a highly experienced team and expects to generate revenues through multiple streams.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-186,814 |
$-8,133 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$9,161 |
$2,000 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$206,861 |
$20,000 |
|
Short-Term Debt |
$3,518 |
$0 |
|
Long-Term Debt |
$150,000 |
$0 |
|
Total Liabilities |
$153,518 |
$0 |
Financials as of: 12/16/2020
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