Tuffy Packs, Inc.
Early Stage
Bullet Proof Backpack Inserts
Overview
Raised: $0
Total Commitments ($USD)
Platform
StartEngine
Start Date
03/15/2020
Close Date
07/13/2020
Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment
$250
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$4,500,000
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
07/18/2020
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
2016
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Tuffy Packs, Inc., with a pre-money valuation of $4.5 million, is raising funds on StartEngine. The company makes bullet-proof backpack inserts to protect against active shooter incidents in schools and public spaces. The inserts of Tuffy Packs are made from lightweight, police-grade materials and can fit 95% of backpacks and laptop cases. Tuffy Packs, Inc. was founded by Steve Naremore and Zach Nemanich in 2016. The current crowdfunding round has a minimum goal of $10,000 and a maximum goal of $107,000, and the funds will be used for marketing and expansion of product lines. Tuffy Packs sells across the US and the EU, with the direct-to-consumer sales margin of 300% and reseller sales margin of 100%.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$255,128 |
$341,655 |
|
COGS |
$114,278 |
$178,444 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-14,014 |
$-2,313 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$77,461 |
$10,046 |
|
Accounts Receivable |
$123 |
$281 |
|
Total Assets |
$117,022 |
$80,823 |
|
Short-Term Debt |
$5,289 |
$2,986 |
|
Long-Term Debt |
$71,886 |
$23,977 |
|
Total Liabilities |
$77,175 |
$26,963 |
Financials as of: 03/15/2020
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