Question 1

When will the company allow investment via WeFunder?

Accepted Answer

Hi Mary, sorry it took us a bit to get through the regulatory steps but we are now live! Thank you for your investment!

Question 2

Hello, what is your plan for the future? Do you plan on an IPO, a buyout or other option?

Accepted Answer

Hi John, thanks for your question. We will grow each product division and have the option to sell individual divisions to large customers, such as an agtech firm for our biostimulant, a cosmetics company for our emulsifiers, or a leather buyer such as Ikea who wants to meet their sustainability commitments with vegan leather. Sales of divisions will produce returns for our investors, and we could also be bought entirely by a large company that produces many of our products and wants to own th...

Question 3

Hi, I love what you are doing and will root for you no matter what, but as a potential investor I have questions. 1. You could be tremendously successful but that may not lead to a return for investors coming in at a 29M cap. I see your answer to John below and it's really int...

Accepted Answer

Hi Alan, Thank you for your questions and for the support you have shown so many companies on here. I hope these answers are helpful: 1) Our convertible notes technically have a cap of $29M but that was an investor that requested that number. Our Series A round will be at $15M, we tried to clarify that but the cap needs to be published on here. $15M is the pre-money into which we anticipate these notes converting, and at a 15% discount. This answer also relates to question 4, it's not a down ...

Question 4

Thanks! Excellent answers - thoughtful and transparent. Now it's more of a question of how much to invest. Could you say just a little more about your IP - I get that it covers extraction and processing, but how broad and strong is that coverage? How easy would it be to come u...

Accepted Answer

Hi Alan! Our IP filing covers a proprietary method of extracting the valuable alginate that protects the long chain molecules that make it excellent for emulsifiers and leather. I obviously can't disclose more than that, but we are filing more process IP on our entire production chain, more on the individual extraction steps, the steps to make our products, and the products themselves. The combination of these four approaches means we are building / have built, an IP moat around sargassum ext...

Question 5

Hi. If the Series A will be at a $15M cap, why not just wait for that and invest then? Why buy in at double the valuation at an earlier time?

Accepted Answer

Hi Robert, Thanks for the question. The $29M is a valuation cap which sets a ceiling on the valuation the note investment converts into equity at the Series A (we expect to close late summer). Our Series A is priced at $15M, so the note will convert at a 15% discount to the $15M valuation. The cap was set last year to protect convertible note investors from a high Series A valuation. Hope I helped answer your question. Thanks, Ben

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