Question 1

Hi there, a) What is your most recent monthly burn rate? b) What is your most recent monthly cash on hand? c) Are you raising a parallel angel or VC round simultaneously? If yes, who is investing in this round?

Accepted Answer

Hey Teddy, Thanks for the questions! a) Net Income for Q1 = $25,608 (Jan = $45,742, Feb = $64,664, March = -$84,797) **Note that in March we booked a couple of large retail slotting fees related to new distribution. b) $352,579 c) Yes, we have a few open conversations with angels and family offices. No firm commitments yet, but we have a verbal for $500k (we've been told cash will be coming by end of May). We will make an announcement on the Wefunder page when possible related to other invest...

Question 2

Intriguing. I have dealt on and off with asthma and can imagine the benefits of this. I am curious the story of your moving in and out of profitability. What were the drivers of losing your profitability with significantly more revenue in 2023 and what should investors anticip...

Accepted Answer

Jason, This is a great question. Over the life of the business, we've essentially been breaking even—every dollar has gone back into growing the business. Some months we show a small loss, and others we show a small profit, which depends on two key factors: 1) Retail trade spend (e.g., free product to secure shelf space): For example, we took an $86k off-invoice deduction from a big retailer to launch one new SKU (this was equal to 3 free units per door). This is fairly common when launching ...

Question 3

Very cool product / vision ! Curious about the below: What is the break down of retail vs online (DTC, Amazon) revenue? What is your monthly average ad spend / CAC? What % are repeat customers? Thanks!

Accepted Answer

Clayton, Thank you for the great questions! Last year, the revenue split was 65% online and 35% retail. This year, we're pacing to achieve 60% online and 40% retail. Next year, it will be closer to a 50/50 split. Last year, we averaged $65,800 per month on paid ads. This year, through May, we've averaged $104,198 per month. We use blended ROAS as our main online metric because many people order on Amazon even if we push them to our own store. There's a direct correlation between off-Amazon ad...

Question 4

I am interested in your project, could you tell me how you structure your SAFE contract, to legally take care of my investment. Do you have an example of the contract you have?

Accepted Answer

Hi Carolina, thank you for your interest in BoomBoom. If you click on the invest button you'll be directed to a new page and on the right hand side you'll see a "contracts" section that will highlight all of the legal details. We've had many family and friends invest on the same SAFE agreement, with the goal of getting everyone a solid return. Let me know if you have any other questions after reading the documents. Thanks! - John

Question 5

Can you share your thoughts on how often you will update us on how things are progressing with your goals and business plan? Secondly, do you intend to file the annual report with the SEC? Thanks for your feedback.

Accepted Answer

Eric... great questions! We currently send out a quarterly update to existing investors and plan to include everyone coming in on WeFunder to that list. This goes out within 30 days of the quarter ending. Re: the SEC annual report - we will follow guidance from the Wefunder team on this. Thanks! - John

BoomBoom

Daily-Use Nasal Sticks That Help You Breathe Better and Feel Refreshed

$807,939

Updates

BoomBoom

Quick facts

Team profiles

Featured investor profiles

$807,939

Updates