Parallel Flight Technologies

Drones that lift more & fly longer — Multiple Industries

Analytics

Raised to Date: $350,198

Aggregate Commitments $
Platform

Wefunder

Start Date

07/08/2020

Close Date

07/28/2020

Min. Goal

$50,000

Max. Goal

$1,500,000

Min. Investment

$2,500

Security Type

Equity - Common

Funding Type

RegA+

Valuation

$18,000,000

Rolling Commitments $
Status
Funded
Reporting Date

08/02/2020

Days Remaining
Funded
% of Min. Goal

700%

% of Max. Goal

23%

Likelihood of Max
Funded
Avg. Daily Raise

$17,510

# of Investors

77

Momentum
Funded
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Location

La Selva Beach, California

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Parallel Flight Technologies, with a pre-money valuation of $18 million, is raising funds on Wefunder through Reg A+ crowdfunding. The company makes drones that lift more and fly longer and can be used for unmanned fire support, medical supply logistics, agricultural applications, and more. The drones run on revolutionary parallel hybrid propulsion systems and carry ten times more heavy loads than the traditional drones. Parallel Flight Technologies was founded by Joshua Resnick, Bobby Hulter, and David M Adams and has raised over $1.7 million since its founding. The current round of funding has a minimum target of $50,000 and a maximum target of $1,500,000. Parallel Flight Technologies has partnered with NASA and NSF and has received the SBIR grant.
Balance Sheet

Cash and Cash Equivalents

$769,181

Investment Securities

$0

Total Investments

$0

Accounts and Notes Receivable

$0

Loans

$0

Property, Plant and Equipment (PP&E)

$5,062

Property and Equipment

$0

Total Assets

$774,207

Accounts Payable & Accrued Liabilities

$34,164

Policy Liabilities and Accruals

$0

Deposits

$0

Long Term Debt

$0

Total Liabilities

$303,164

Total Stockholders' Equity

$471,043

Total Liabilities and Equity

$774,207

Statement of Comprehensive Income Information

Total Revenues

$71,909

Total Interest Income

$0

Costs & Expenses Applicable to Rev

$0

Total Interest Expenses

$0

Depreciation and Amortization

$0

Net Income

$-274,519

Earnings Per Share - Basic

$0

Earnings Per Share - Diluted

$0

Auditor: dbbmckennon
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Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
04/30/2021 StartEngine $28,700,000 $3,571,605 Equity - Common Active RegA+
07/28/2020 Wefunder $18,000,000 $350,198 Equity - Common Confirmed Closed RegA+
01/13/2020 StartEngine $7,980,000 $1,069,794 Equity - Common Confirmed Closed RegCF
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