Penny Luck Shoes, Inc.
Early Stage
WEAR YOUR LUCK
Overview
Raised: $0
Total Commitments ($USD)
Platform
StartEngine
Start Date
03/19/2020
Close Date
04/28/2020
Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment
$300
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$2.00
Pre-Money Valuation
$7,100,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
04/25/2020
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
2015
Industry
Apparel & Fashion
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Penny Luck Shoes, with a pre-money valuation of $7.1 million, is raising funds on StartEngine. The company is a unique men’s shoe brand with a lucky twist. Disabled Vets are hired by the company to place lucky pennies on the soles of the shoes for American Dream Chasers to wear their luck. Penny Luck Shoes also has a charitable mission to donate a portion of the proceeds to connect Veterans struggling with PTSD with available resources. Penny Luck Shoes was founded by Brian Munoz in 2015. The current round of crowdfunding has a minimum target of $10,000 and a maximum target of $107,000, and the proceeds will be used to actualize the true potential of Penny Luck. The company has sold over 5,000 pairs of shoes, with 84% gross margin in 2017 and a 74.7% gross margin in 2018.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$244,163 |
$158,947 |
|
COGS |
$61,758 |
$25,413 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-27,076 |
$27,349 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$9,088 |
$18,655 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$140,379 |
$98,645 |
|
Short-Term Debt |
$74,811 |
$17,500 |
|
Long-Term Debt |
$47,022 |
$0 |
|
Total Liabilities |
$121,833 |
$17,500 |
Financials as of: 03/19/2020
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