goimagine
The World's First Marketplace donating 100% Profits to Charity
Investment Terms
Financials
We have financial statements ending September 22, 2020. Our cash in hand is $2,089, as of October 2020. Over the three months prior, revenues averaged $1,300/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $5,613/month.
At a Glance
Jan 9 – Sep 22, 2020




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
goimagine is a handmade marketplace connecting buyers and sellers throughout the USA that donates 100% Profits to Charity. We are a handmade marketplace like Etsy with the philanthropic mission of Newman's Own.
In five years, we hope (but not guarantee) to become the largest Marketplace focused solely on Handmade in the United States and inspire other entrepreneurs to start marketplaces with a similar philanthropic mission.
Historical Results of Operations
goimagine, LLL was originally organized in January 2020. On October 16, 2020, the company converted into a Public Benefit Corporation. The company has limited operations upon which prospective investors may base an evaluation of its performance.
- Revenues & Gross Margin. For the period ended October 8, 2020, the Company had revenues of $6,340.94.
- Assets. As of October 8, 2020, the Company had total assets of $18,906.25, including $1,934.25 in cash.
- Net Income. The Company has had net income of $0 for 2020.
- Liabilities. The Company's liabilities totaled $6,227 for 2020.
Liquidity & Capital Resources
To date, the company has been financed by founder contributions.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 14 months before hitting profitability.
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 24 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
goimagine, PBC cash in hand is $2,089, as of October 2020. Over the last three months, revenues have averaged $1,300/month, and operational expenses have averaged $5,613/month, for an average burn rate of $4,313 per month. Our intent is to be profitable in 14 months.
Since our company was founded in 2020 there aren't any material changes to disclose. All funding has come from founders to this point.
Revenue for goimagine hopes to exceed $55,000 over the next 6 months with expenses being $104,000. We expect to need a total of $75,000 in capital to reach a break-even point. These projections cannot be guaranteed.
For additional capital, the founders are willing to infuse cash when needed through personal savings and debt.
Risks
Our business model makes the assumption that we will have 3,700 seller subscriptions by the end of 2021.
Our marketplace is based off the sales of non-essential items. Given the current economic climate with unemployment and business closures due to COVID-19 we can't guarantee handmade items will be in constant demand in the future.
We rely on Amazon AWS servers to ensure our platform has consistent performance. If something happens out of our control with the Amazon cloud environment we would be at a loss.
Other Disclosures
The Board of Directors
Director | Occupation | Joined |
---|---|---|
Jonathan Lincoln | Founder @ goimagine | 2020 |
Officers
Officer | Title | Joined |
---|---|---|
Jonathan Lincoln | President and CEO | 2020 |
Voting Power
Holder | Securities Held | Power |
---|---|---|
Jonathan LIncoln | 350,000 Common Stock | 100.0% |
Past Fundraises
Date | Security | Amount |
---|---|---|
2/2021 | Revenue Share | $51,850 |
Outstanding Debts
None.Related Party Transactions
None.Use of Funds
$50,000 | - 41% Marketing (Paid Social, Online Advertising)
- 36% Operating Expenses
- 15.5% Software Development,
- 7.5% Wefunder Fee |
---|---|
$250,000 | - 60% Marketing (Paid Social, Online Advertising, Content Creation, Public Relations)
- 24.5% Software Development,
- 8% Operating Expenses
- 7.5% Wefunder Fee |
Capital Structure
Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
---|---|---|---|
Common Stock | 1,000,000 | 350,000 | Yes |
Form C Filing on EDGAR
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.