Invest in Geoship

The New Paradigm in Affordable Sustainable Homes and Communities

Last Chance
Closing on Dec 16 @ 11:59 PM ET
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FIRST GOAL HIT (You can still invest)

$5,784,255

raised from 679 investors
INVESTMENT TERMS
Future Equity
$44M valuation cap
$900, $3.6K, $12K, $36K, $99K, $236K

Investment Terms

You will be investing in Geoship through an SPV. This means that when you invest, you will be signing the SPV Subscription Agreement, not the direct investment contract. For more information on SPVs, see here.

Financials

We have financial statements ending December 31, 2023. Our cash in hand is $1,159,895, as of September 2024. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $175,000/month.

At a Glance

Jan 1 – Dec 31, 2023
$0
Revenue
-$0
Net Loss
$741,109
+29%
Short-Term Debt
$484,109
Raised in 2023
$1,159,895
Cash on Hand
Net Margin:
0%
Gross Margin:
0%
Return on Assets:
-0%
Earnings per Share:
-$0.00
Revenue per Employee:
$0
Cash to Assets:
6%
Revenue to Receivables:
~
Debt Ratio:
137%
Geoship Financial Statements 2023 v2.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

The New Paradigm in Affordable Sustainable Homes and Communities.

Geoship’s vision is a revolution in homebuilding, aiming to reconnect human communities and the natural world. Our social purpose is to create tools for healthy living in community in harmony with nature.

Milestones

Geoship PBC was organized in the State of Washington in January 2014.

Since then, we have:

  • Revolutionary Tech: Built the world’s first ceramic geodesic home, material science breakthrough.
  • World-Class Team: Engineering leadership from Tesla and SpaceX join purpose-driven entrepreneurs.
  • Product-Market Fit: $95M sales pipeline - over 600 domes reserved with deposits in just two months.
  • $3.6m Raised In This Round: From several notable Angel investors and impact funds.
  • Enormous Market: Reshaping a $2.5T US housing market with deep impact across many categories.
  • Rapidly Growing Community: On a mission to build a more beautiful world.
  • World-Class Production Facility: Ready to scale!

The Company is subject to risks and uncertainties common to early-stage companies. Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future.

Historical Results of Operations

  • Revenues & Gross Margin. For the period ended December 31, 2023, the Company had revenues of $0 compared to the year ended December 31, 2022, when the Company had revenues of $0.
  • Assets. As of December 31, 2023, the Company had total assets of $1,640,617, including $105,863 in cash. As of December 31, 2022, the Company had $599,882 in total assets, including $46,865 in cash.
  • Net Loss. The Company has had net losses of $0.16 and net losses of $0.07 for the fiscal years ended December 31, 2023 and December 31, 2022, respectively.
  • Liabilities. The Company's liabilities totaled $2,251,999 for the fiscal year ended December 31, 2023 and $574,402 for the fiscal year ended December 31, 2022.

Liquidity & Capital Resources

To-date, the company has been financed with $1,245,000 in debt, $2,061,714 in equity, and $3,609,491 in SAFEs. 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. 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

Geoship PBC cash in hand is $1,159,895, as of September 2024. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $175,000/month, for an average burn rate of $175,000 per month. Our intent is to be profitable in 8 months.

In the next 6 months, we expect expenses to be about $1.5M, and revenue to be about $300k.

We're continually closing funds from new Angel investors, hiring more engineers and production associates, and purchasing capital equipment. So our monthly burn is trending upward.  We expect our expenses to level off soon. The customer for Amma #1 is identified and permitting in place, we expect to sell Amma #1 when the install is complete in April. This will be our first revenue.   Our stretch goal is to be unit profitable on Amma #1 in April 2025. We aim to reach "default alive", 2-3 Amma's per month by Q3/Q4 2025. We have not actually manufactured a complete home yet (only a demo unit), so unknowns may affect this.  We believe we will need to raise $5M in order to achieve profitability.  We have enough cash to cover our burn through the campaign. Additionally, we continue to close investments from Accredited investors, and several of our current investors have offered to do loans. We're also opening reservations, and selling founder series domes.

All projections in the above narrative are forward-looking and not guaranteed.

Risks

1

We have a limited operating history upon which you can evaluate our performance, and accordingly, our prospects must be considered in light of the risks that any new company encounters. The Company is still in an early phase and we are just beginning to implement our business plan. There can be no assurance that we will ever operate profitably. The likelihood of our success should be considered in light of the problems, expenses, difficulties, complications and delays usually encountered by early stage companies. The Company may not be successful in attaining the objectives necessary for it to overcome these risks and uncertainties.

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
Morgan Bierschenk Co-CEO/Founder @ Geoship S.P.C 2014
Bastiaan Kools re-Director and Founder @ Geoship 2016
Adam Bierschenk Design Engineer @ Toda SPC 2020
Joseph Leibovich President @ Service First Processing 2021

Officers

Officer Title Joined
Morgan Bierschenk Co-CEO/Founder 2014
Bastiaan Kools Creative Director/Founder 2016
Mikael Mikailian Co-CEO 2023

Voting Power

Holder Securities Held Power
Morgan Bierschenk 7,000,000 Common Stock, plus voting proxy over some additional shares 85.7%

Past Fundraises

Date Security Amount
Current SAFE $774,498
10/2024 SAFE $700,000
10/2024 SAFE $800,000
9/2024 SAFE $3,205,382
5/2023 SAFE $404,109
4/2023 Priced Round $80,000
9/2022 Loan $150,000
5/2022 Priced Round $495,439
1/2022 Loan $20,000
7/2021 Priced Round $300,000
7/2020 Loan $1,000,000
7/2020 Priced Round $1,069,855
5/2020 Priced Round $23,310
5/2020 Priced Round $63,111
2/2020 Priced Round $29,999
2/2018 Loan $75,000

Outstanding Debts

Issued Lender Outstanding
7/1/20 MTVO
$1,000,000
1/20/22 Aaron Malone
$29,556

Related Party Transactions

Use of Funds

$100,000 60% Product Development13.5% Buffer6% Regulatory and Testing6% Marketing6.5% Wefunder Fee4% Legal/IP4% Software 

$5,000,000 36% Pilot Production 24% Product Development13.5% Buffer6% Regulatory and Testing6% Marketing6.5% Wefunder Fee4% Legal/IP4% Software 

Capital Structure

Class of Security Securities (or Amount) Authorized Securities (or Amount) Outstanding
Preferred 5,000,000 0
Common Stock 25,000,000 12,532,533

The Funding Portal

Geoship 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