* He sells "custom-made beer pong tables and related products"
* No revenue to date
* He owns 9.5M shares, and he's trying to sell 2.5M shares of new stock for a total of $12,500, which I think means a pre-money valuation of $47500 ($12,500 * (9.5/2.5))
* One of the risks he lists is "If we do not obtain additional financing, our business will fail."
* He plans to use the money to build tables that he can sell, including designing and building themed tables (such as a table with a college's mascot and such on it) and to build a good website
Not to mention he's entering a market that already has complete saturation of competitors. He'd do better making beer-tasting ping pong balls than manufacturing beer pong tables at this point.
Comments
Attempt at a summary from skimming it:
* He sells "custom-made beer pong tables and related products"
* No revenue to date
* He owns 9.5M shares, and he's trying to sell 2.5M shares of new stock for a total of $12,500, which I think means a pre-money valuation of $47500 ($12,500 * (9.5/2.5))
* One of the risks he lists is "If we do not obtain additional financing, our business will fail."
* He plans to use the money to build tables that he can sell, including designing and building themed tables (such as a table with a college's mascot and such on it) and to build a good website
Not to mention he's entering a market that already has complete saturation of competitors. He'd do better making beer-tasting ping pong balls than manufacturing beer pong tables at this point.
Well, that being said, it's a growing market and the winner may not take all, but they will take a large chunk.