Question 1

Once I make a transfer to my wefund account after I reserve my investment, how do I get it out of the wefund cash section if this company decides not to crowd fund and doesn’t meet their goal? (I’m hoping the goal is met!) Is there a penalty in getting my funds back from wefund?

Accepted Answer

Hey, L. Prince! Thanks for asking this question. We have already reached our minimum goal. So unless there is something out of the ordinary that occurs within the next few weeks, the investment opportunity will convert successfully. But in the case that something out of the ordinary did occur, Ceres Chill will ask Wefunder to close the campaign and that will trigger your money to be refunded back to your account. For any issues or questions, you have after the campaign closes, or during the c...

Question 2

We've been hearing from a ton of moms on social media with questions - here are a few! What kind of documentation is given that states what % you own? In what ways does this affect taxes?

Accepted Answer

Once we file our Form C (most likely by the end of October) and you confirm your investment, you'll receive an email with the ratified contract between us. You can also continually track all of your investments on Wefunder on your portfolio page! Your investment may qualify for tax benefits, but you should consult with your tax accountant since they will know your state rules best.

Question 3

After reading the wefunder FAQ it says that if the fundraising is successful proceeds will go to Ceres Chill but if not, they’ll be refunded. Does that mean that if we don’t reach the 500k goal on Wefunder then the investment opportunity goes away?

Accepted Answer

Yes! You are right. We have already met our minimum goal though, so unless there is something out of the ordinary that occurs within the next few weeks, the investment opportunity will convert successfully. In the case that something out of the ordinary does occur, your money will be refunded back to your bank account!

Question 4

What type of entity is it? What classes of units/shares does it have? When will the financial info be available?

Accepted Answer

We are raising money with a traditional priced round and offering preferred shares. You and all other investors will be wrapped up into an investment vehicle called an SPV. That SPV will then invest directly into Ceres Chill! In short, an SPV allows a company to have 1 single line on our cap table, versus hundreds of lines for every investor in our campaign. This is industry standard practice for every angel group across the country. Upon a liquidation event (sale of company, IPO, etc.) prefe...

Question 5

How can I see the progress (if any) from my investment?

Accepted Answer

Once you are logged in to your Wefunder account, you will be able to track the progress of all of your investments on your portfolio page! Here's the link for that: https://wefunder.com/portfolio/

Ceres Chill Co.

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