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Invest in Atom Limbs

🔥 Revolutionary prosthetics to end physical disability 🦾

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Financials

We have financial statements ending December 31 2020. Our cash in hand is $1,000,000, as of October 2021. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $100,000/month.

At a Glance

Jan 1 - Dec 31
$0
Revenue
-$176,814
Net Loss
$33,552
Short Term Debt
$42,000
Raised in 2020
$1,000,000
Cash on Hand
Net Margin:
N/A
Gross Margin:
N/A
Return on Assets:
-62%
Earnings per Share:
-$0.03
Revenue per Employee:
$0
Cash to Assets:
100%
Revenue to Receivables:
~
Debt Ratio:
12%
2020-2019 Atom Limbs Inc. GAAP Financials Audited v3.pdf

Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

Overview

Atom Limbs is making the world's first artificial human arm. We're giving 50M+ limb-different people their limbs back, and revolutionizing the $800B+ physical disability industry.

Atom’s waitlist is currently over 200+ individuals, representing $4M+ in projected revenue. Atom also anticipates leasing beta arms in summer 2022 which projects an additional $1M+ in pre-market revenue.

Atom is based in San Carlos, CA, is pre-seed funded, is currently pre-market and aims to be in-market in 2023.

In 2023, Atom anticipates 0.4% market penetration of global arm amputees, projecting 2,000 units sold and $57M in year 1 revenue.

Atom anticipates releasing an artificial leg in 2025.

Within 5 years, by EOY 2026, Atom anticipates 8% market penetration of global arm amputees and 4% penetration of U.S. leg amputees. This projects cumulative sales of 47,000 units by EOY year 5 and $1.3B in device sales & recurring monthly subscription revenue.

All future projections cannot be guaranteed.


Milestones

Atom Limbs Inc was incorporated in the State of Delaware in April 2019.

Since then, we have:

  • 🚀 CEO sold last company Bebo to Amazon & has scaled companies to 1 billion users
  • 🏆 World-class leadership team from Apple, Tesla, Nike, Intel & IDEO
  • 📱 Team’s track record includes bringing the first iPhone, iMac, and Tesla Model S to market
  • ✔️ AI-powered, mind-controlled arm restores basic sense of touch, near-full dexterity, & curls 45 lbs
  • đź’° Competitive moat secured by $120 million R&D grant from DARPA and US Dept. of Defense
  • 🔥 Positioned to disrupt the fast-growing $800B physical disability market
  • đź’¸ Backed by venture capital firm Village Global whose LPs include Bill Gates and Jeff Bezos
  • 🎯 New York Times, Fast Company, 60 Minutes, PBS, & CNN features

Historical Results of Operations

Our company was organized in April 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.

  • Revenues & Gross Margin. For the period ended December 31, 2020, the Company had revenues of $0 compared to the year ended December 31, 2019, when the Company had revenues of $0.
  • Assets. As of December 31, 2020, the Company had total assets of $284,037, including $284,037 in cash. As of December 31, 2019, the Company had $54,810 in total assets, including $54,810 in cash.
  • Net Loss. The Company has had net losses of $176,814 and net losses of $95,280 for the fiscal years ended December 31, 2020 and December 31, 2019, respectively.
  • Liabilities. The Company's liabilities totaled $33,552 for the fiscal year ended December 31, 2020 and $0 for the fiscal year ended December 31, 2019.

Liquidity & Capital Resources

To-date, the company has been financed with $1,952,468 in SAFEs and in $17,000 in PPP loans.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 months before we need to raise further capital.

We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 1 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

Runway & Short/Mid Term Expenses

Atom Limbs Inc cash in hand is $1,000,000, as of October 2021. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $100,000/month, for an average burn rate of $100,000 per month.

Since the date of our financials, we have hired 10 people:  3 key leads from Apple/Tesla/Nike and 7 individual contributors with similar backgrounds. We have also acquired a 3,000 square foot lab space and performed 50+ product iterations to be on track for beta prototype in Q1 2022.

We project a $20M capital need to secure our path to consumer markets in 2023. We aim to generate $1M in revenue through beta leasing in 2022 and $57M through commercial consumer sales in 2023. These projections cannot be guaranteed.

For additional capital outside of this offering, we could solicit venture capital and government grants.

Risks

1

FDA approval isn't an existential risk, but it does take time and money to do. We're mitigating this risk by applying to the Breakthrough Devices Program (BDP) which expedites the process greatly. We can also overlap chunks of the the approval process with product development in parallel. This is how most prosthetics companies run their FDA process.

2

The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.

3

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.


Other Disclosures

The Board of Directors

Director Occupation Joined
Tyler Hayes CEO @ Atom Limbs 2019

Officers

Officer Title Joined
Tyler Hayes CEO   2019

Voting Power

Holder Securities Held Voting
Tyler Hayes 3,000,000 Common Stock 42.6%
Doug Satzger 2,000,000 Common Stock 28.7%
Eric Monsef 2,000,000 Common Stock 28.7%

Past Fundraises

Date Security Amount
Current SAFE $1,999,645
04/2021 SAFE $763,493
02/2021 SAFE $1,013,975
08/2020 SAFE $25,000
06/2020 Loan $17,000
04/2019 SAFE $150,000

Outstanding Debts

Issued Lender Outstanding

Related Party Transactions

None.

Use of Funds

$50,000 47.5% team/hiring (one key leader), 25% materials/3D prints/prototyping, 5% equipment, 5% travel, 15% operating costs, 2.5% Wefunder intermediary fee

$3,930,000 47.5% team/hiring (3 key leaders, 7 individual contributors), 25% materials/3D prints/prototyping, 5% equipment, 5% travel, 15% operating costs, 2.5% Wefunder intermediary fee

Capital Structure

Class of Security Securities
(or Amount)
Authorized
Securities
(or Amount)
Outstanding
Common Stock 10,000,000 7,025,000

The Funding Portal

Atom Limbs is conducting a Regulation Crowdfunding offering via Wefunder Portal LLC. CRD Number: #283503.

Form C Filing on EDGAR

The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.

Details