Phat Scooters

Neutral
BETA

Hyper-growth electric vehicle company bringing manufacturing back to the USA

Analytics

Raised to Date: $200

Aggregate Commitments $
Platform

Wefunder

Start Date

09/04/2020

Close Date

12/02/2020

Min. Goal

$250,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$25,000,000

Discount Rate

15%

Weekly Commitments $
Status

Active

Reporting Date

10/21/2020

Days Remaining

38

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
Avg. Daily Raise

$4

# of Investors

1

Momentum
Location

Phoenix, AZ

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

Phat Scooters, with a $25 million valuation cap, is raising crowdfunding on Wefunder. It is an electric vehicle company bringing manufacturing back to the US. The company sells fat tire scooters to brands, consumers, tour groups, resorts, and golf courses. Phat Scooters has also signed a contract with Sony Entertainment for its documentary series Riding Phat. Peter Johnson and Derrick J Mains founded Phat Scooters 2017 and have raised over $10 million since the founding. The proceeds of the current crowdfunding campaign, with a minimum raise of $250,000 and a maximum raise of $1,070,000, will be used to cover the balances on the first 300 units coming in late August. Phat Scooters is approaching $1 million a month in revenue and reported a 300% growth over the last year.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$2,747,844

$2,163,035

COGS

$709,065

$857,728

Tax

$21,131

$0

 

 

Net Income

$-781,843

$-364,765

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$36,385

$128,245

Accounts Receivable

$22,666

$46,817

Total Assets

$4,662,458

$520,040

Short-Term Debt

$4,242,455

$176,128

Long-Term Debt

$527,497

$0

Total Liabilities

$4,769,952

$208,505

Ratings

last updated 10/25/2020

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Analyst Report

Neutral
Ratings Platform - Beta Trial

Our new ratings and analytics platform is currently in Beta. To gain access to the Beta platform features, upgrade to a Pro paid account and accept the Beta terms on any page.

For a limited time, use coupon code "TRYMERLIN20" for a free 20 day trial of Kingscrowd Pro and Merlin Beta. Your paid subscription will activate at the end of 20 days. Cancel anytime.
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