Your browser is old and is not supported. Upgrade for better security.

Heroic Public Benefit Corporation

We’re building a platform that trains heroes

Financials

We have financial statements ending November 16 2020. Our cash in hand is $2,186,801.45, as of January 2021. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $0/month.

At a Glance

Nov 13 - Dec 31
$0
Revenue
$0
Net Profit
$21,999
Short Term Debt
$971,999
Raised in 2020
$2,186,801
Cash on Hand
Net Margin:
N/A
Gross Margin:
N/A
Return on Assets:
0%
Earnings per Share:
$0.00
Revenue per Employee:
$0
Cash to Assets:
2%
Revenue to Receivables:
~
Debt Ratio:
98%
Heroic Enterprises PBC 2020 Inception Date Audited Financial Statements issued .pdf

Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of the Company’s financial condition and results of operations together with the Company’s 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 the Company’s 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

Heroic Public Benefit Corporation was created to help train and connect and lead a virtuous army of heroes who can, literally, change the world.  Heroic plans to acquire Optimize and focus on creating the Heroic Social Training Platform.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.  Furthermore, the Company does not currently have any agreements in place to acquire Optimize, and the proposed acquisition is contingent on the Company's ability to negotiate terms successfully and obtain the required shareholder consent to close any such transaction.

Milestones

Heroic Enterprises, Public Benefit Corporation was incorporated in the State of Delaware in November 2020.

Since then, the Company has retained consultants to design branding for Heroic Press and prototypes for Heroic Social, and has raised $950,000 in convertible notes, and, as of March 10, 2021, has raised $2,813,001 in the Rule 506(c) Offering.

Historical Results of Operations


The Company was organized in November 2020 and has limited operations upon which investors may base an evaluation of its performance.

·          Revenues & Gross Margin. For the period ended November 13, 2020, the Company had revenues of $0.

·          Assets. As of November 13, 2020, the Company had total assets of $22,499 including $500 in subscriptions receivable.

·          Net Income. The Company has had net income of $0 for 2020.

·          Liabilities. The Company's liabilities totaled $21,999 for 2020.

Liquidity & Capital Resources

To-date, the Company has been financed with $950,000 of convertible notes, $21,999 of debt and, as of March 10, 2021, $2,813,001 in funds raised in the Rule 506(c) Offering. The $21,999 of debt was repaid in December 2020. The convertible notes were converted automatically into 754,328 shares of Series Seed Preferred Stock in January 2021.

The Company plans to use the proceeds as set forth in this Form C under "Use of Funds". The Company does not have any other sources of capital in the immediate future other than the on-going Rule 506(c) Offering described below.

The Company will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. In January 2020 the Company commenced offering up to $5,000,000 in Series Seed Preferred Stock only to “accredited investors” (as such term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended), pursuant to Rule 506(c) of Regulation D (the “Rule 506(c) Offering”).  

The purchase price per share of Series Seed Preferred Stock under this Offering and the Rule 506(c) Offering is the same. As of March 10, 2021, the Company had raised $2,813,001 in the Rule 506(c) Offering, and therefore the Company could raise up to an additional $2,186,999 in the on-going
Rule 506(c) Offering. 

Except as otherwise described in this Form C, the Company does not have additional sources of capital. 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 the Company to implement the Company’s 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

Heroic Enterprises, Public Benefit Corporation cash in hand is $2,186,801.45, as of January 31st, 2021. In January 2021, revenues were $0/month, cost of goods sold were $0/month, and operational expenses were $134,662. The Company’s management is targeting for the Company to be profitable in 24 - 36+ months.  The Company's management anticipates creating a profitable business over the long term while generating revenue in the next 12+ months, but also expects to incur expenses in order to grow during that period, which may inhibit shorter term profitability.

While the Company has very little recurring expenses currently, it did spend about $120,000 on startup costs,  including consultants and advertising costs, in November and December 2020, which is the largest component of the Company’s net loss for 2020.

Other than the information contained herein regarding the funds raised in the sale of convertible notes and the Rule 506(c) Offering, there have been no material changes to the Company’s financial condition since the date the Company’s financials cover.  The Company anticipates that it will acquire Optimize in 2021.  Company’s management currently anticipates that, if such acquisition occurs, then during the 3 - 6 months after the acquisition closes, revenues would average approximately $200,000 - $300,000+ per month, and expenses would average approximately $500,000 - $600,000 per month during the same period as the company begins designing, developing, and building the products described herein. Neither the acquisition of Optimize nor such projections are guaranteed.

Risks

1

You should carefully consider the risks and uncertainties described below and the other information in the Offering Statement before deciding whether to invest. Additional risks and uncertainties not presently known to the issuer (sometimes referred to as the “Company”) or that the Company currently deems immaterial may also impair the Company’s business operations and your investment. The occurrence of any of the following risks could materially adversely affect the Company’s business, reputation, financial performance and value

2

Very Early Stage. The Company is in the very early stage of operations. The Company may experience operating losses and negative cash flow in the foreseeable future. The Company’s future profitability depends on generating and sustaining high revenue growth while maintaining reasonable expense levels and cash flow requirements. Lack of revenues, or slower revenue growth than anticipated or operating expenses exceeding expectations would harm the Company’s business. If the Company achieves profitability, there is no certainty that the Company would be able to sustain or increase profitability in the future.

3

High Risk Investment. An investment in the Series Seed Preferred Stock involves a high degree of risk. The Company is a start-up venture, which adds risk to your potential investment. Start-up ventures tend to have greater cash-flow needs and less opportunity to generate those cash flows than established businesses. Any projections, forecasts or estimates as may have been provided by the Company are purely speculative and cannot be relied upon to indicate actual results that may be obtained through an investment in the securities offered in this Offering; any such projections, forecasts and estimates are based upon assumptions which are subject to change and which are beyond the control of the Company or its management. The Company may not generate any investment returns. You could lose all of your investment in the Company. The tax effects which may be expected by this investment are not susceptible to absolute prediction, and new developments and rules of the Internal Revenue Service or other taxing authorities, audit adjustment, court decisions or legislative changes may have an adverse effect on one or more of the tax consequences of this investment.


Other Disclosures

The Board of Directors

Director Occupation Joined
Brian Johnson CEO @ Optimize Enterprises, Public Benefit Corporation and the Company 2020

Officers

Officer Title Joined
Brian Johnson President   Secretary   Treasurer   CEO   2020

Voting Power

Holder Securities Held Voting
Brian Johnson 10,095,763 Series 2 Common Stock 100.0%

Past Equity Fundraises

Date Security Amount
03/2021 Priced Round $5,000,000
01/2021 Priced Round $2,813,001
12/2020 Convertible Note $950,000
11/2020 Loan $21,999

Outstanding Debts

Issued Lender Outstanding

Related Party Transactions

Use of Funds

$100,000 93.5% - General operations including admin, consulting fees, and for the potential acquisition of Optimize. 6.5% - Wefunder intermediary fee.

$5,000,000 93.5% - General operations including admin, legal and consulting fees, and for the potential acquisition of Optimize. 6.5% - Wefunder intermediary fee.

Capital Structure

Class of Security Securities
(or Amount)
Authorized
Securities
(or Amount)
Outstanding
Series Seed Preferred 10,000,000 2,534,314
Series 2 Common Stock 10,095,763 10,095,763
Series 1 Common Stock 19,904,237 0

Form C Filing on EDGAR

The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.

Details