Volcon
Building the World’s FIRST All-Electric Outdoors-Vehicle Manufacturer
Analytics
Raised to Date: $1,070,000
Aggregate Commitments $
Platform
Wefunder
Start Date
12/01/2020
Close Date
12/16/2020
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$1,000
Security Type
SAFE
Funding Type
RegCF
Series
Seed
Valuation Cap
$15,000,000
Discount Rate
0%
Rolling Commitments $
Status
Funded
Reporting Date
12/31/2020
Days Remaining
Funded
% of Min. Goal
2,140%
% of Max. Goal
100%
Likelihood of Max
Funded
Avg. Daily Raise
$71,333
# of Investors
1,014
Momentum
Funded
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Location
Austin, Texas
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Cleantech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Volcon, with a $15 million valuation cap, is raising funds on Wefunder. The company designs and creates innovative electric vehicles for the outdoor power sports industry. It is building the world’s first all-electric off-road vehicle using advanced frame materials, an all-weather electric drive train, and a lithium battery. Andy Leisner founded Volcon in February 2020 and has raised over $3 million since its inception. The proceeds of the current crowdfunding campaign, with a minimum target of $50,000 and a maximum target of $1,070,000, will be used for product development, sales and marketing, and operations. Volcon is currently the only 100% electric vehicle company for outdoor power sports. It uses its patented magnetic torque-tunnel motors to produce two times the torque in half the other motor brands’ size.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-311,607 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,384,500 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,411,744 |
$0 |
|
Short-Term Debt |
$87,517 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$87,517 |
$0 |
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