Details
1 | Building a hub for the intersection of the arts and tech, based in Oakland. |
2 | Building software that connects artist and audience in an immersive way that's not been done before |
3 | Building a record label from the ground-up, built for the empowered artist of the future. |
4 | Be a part of an album launch - ASTU's debut album in Fall 2020. |
5 | Community building for the post-COVID future, led by artists. |
6 | Black-owned and a commitment to representing black people in Boyish ownership and employment |
Artists weave the cultural fabric of society.
San Francisco and Silicon Valley reflect the most powerful entrepreneurial infrastructure in the world; artists are entrepreneurs, yet lack the startup infrastructure to have more well-fed artists than starving artists.
Boyish Records is the bridge between artists and technology, based in Oakland.
Boyish Records has financial statements ending December 31 2019. Our cash in hand is $201.93, as of August 2019. Over the three months prior, revenues averaged $167/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $289/month.
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
Boyish is a music record label and media company. Instead of industry standard contracts that strip artists' ownership of their art, we invest in artists as entrepreneurs with startup capital, mentorship, and infrastructure in exchange for equity investment in their company; artists are supported while maintaining control of their art and financial health. We also provide label as service products to artists. Media prototypes include 3 podcasts on music, culture, & entrepreneurship.
Boyish will be the premier record label for emerging artists, built on trust and the long-term success/health of our artists. Our podcasts are viewed as thought leaders for artists as entrepreneurs. Our education and business support products for artists/creators have reached scale. We're viewed as an exemplar in the intersection between art, business, and education. We have locations in Oakland, LA, and New York housing production studios and event space.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Milestones
Boyish Records, Inc. was incorporated in the State of Delaware in May 2019.
Since then, we have:
Historical Results of Operations
Our company was organized in May 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 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 6 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
Boyish Records, Inc. cash in hand is $201.93, as of August 2019. Over the last three months, revenues have averaged $167/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $289/month, for an average burn rate of $122 per month. Our intent is to be profitable in 12 months.
Will will be launching the following revenue-generating activities: (a) streaming revenue of music, (b) digital downloads of music, (c) merchandise sales, (d) pilot of subscription services, (e) ticket sales to performance / live events. We hope to start generating revenue in Q4 of 2019. Although we can't guarantee it, we expect revenues to be $24,000 6 months from now and expenses to be $36,300.
In lieu of a successful raise, we'll continue to bootstrap the business. We will also be applying for business grants in the coming months targeted at female founders, people of color founders, and the arts.
1 | We are moving away from industry-standard 360 contracts that major record labels sign with artists that also control and own most of the artist's IP. We are placing bets that our company will build a brand known for credibility and trust among artists, leading to ways to monetize our services that traditional labels have not been able to do. |
2 | Our market research to date has a small sample size, so we are making bets on the market demand for our services. |
3 | We are betting on the number of independent artists/musicians continuing to grow at robust rates. |
4 | We are assuming that many of these increasing number of independent artists/musicians will be willing to pay subscription services that allow for them to maintain their independence but offer more infrastructure. |
5 | Spotify is becoming more and more powerful. They would become a giant in the label space if they started providing label services. Attacks from Spotify or major labels trying to stifle our growth would be a risk. |
6 | We need to select artists who will be able to balance creating art that's authentic and true to themselves while also being financially viable; they will need to be responsible business stewards driving the success of their own companies. We believe the culture has shifted to prioritize business ownership and protection of intellectual property; we believe there's more execution risk than market risk. The demand is there, but we need to be excellent in running great support programs for our artists. |
7 | 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. |
8 | Kevin Shaw is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case. |
9 | 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. |
10 | Esther is a full-time officer, while Kevin Shaw is a part-time officer. Kevin will elevate to full-time once Boyish Records can start paying salaries with long-term sustainability in mind. |
Director | Occupation | Joined |
---|---|---|
Esther Kibreab | Artist / Musician @ self-employed | 2019 |
Kevin Shaw | Finance / Education @ KIPP New Jersey | 2019 |
Officer | Title | Joined |
---|---|---|
Esther Kibreab | CEO | 2019 |
Kevin Shaw | Secretary CEO | 2019 |
Holder | Securities Held | Voting Power |
---|---|---|
Kevin Shaw | 3,500,000 Common stock | 50.0% |
Esther Kibreab | 3,500,000 Common stock | 50.0% |
Date | Amount | Security |
---|---|---|
07/2020 | $25,021 | Custom |
$20,000 | 80% to ASTU album production; 5% to video production; 5% to podcast production; 2.5% to web development; 7.5% to Wefunder intermediary fee |
$100,000 | 25% to ASTU album production; 17% to album production of artist #2; 16% to marketing/PR; 11% to video production; 10% to concert tour startup; 5% to podcast production; 6% to merchandise production; 2.5% to web development; 7.5% to Wefunder intermediary fee |
Class of Security | Securities (or Amount) Authorized |
Securities (or Amount) Outstanding |
Voting Rights |
---|---|---|---|
Common Stock | 10,000,000 | 7,000,000 | Yes |
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.
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