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• 🎥 Immersed's Investor Webinar Recording (🚨FINAL DAY!)
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• 🎥 Immersed's Investor Webinar Recording
• Investor Webinar w/ Renji (CEO) & Team: March 12th @ 1PM ET / 10AM PT
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• I've noticed the current pre-money valuation at $148 million with a share price of $5.00. In my previous investment, the share price was $4.00, and the valuation stood at $58 million. Could you please clarify if there has been a stock split that I might have overlooked? Your clarification would be greatly appreciated.
• So essentially, Renji, you’re claiming that everything is perfectly fine. Repeated delays in the delivery of the first devices, a disastrous stock market debut, an “IRL event” more likely considered a failure than a success (a festival of CEO self-promotion), a failed product demo, and excuses about a firmware issue that supposedly prevented the launch of a fully functional device. You present results for 2022 and 2023, which are more of a deterrent, suggesting catastrophic management of the money invested in you. If I calculate correctly, spending $30,000 per month on an office for a small startup (ironically developing apps and devices for remote work) sounds like a bad joke. I can see why the 2024 report was omitted. From earlier reports, you managed to sell between 2,000 and 4,000 devices—let’s assume for simplicity’s sake it was even 10,000 (if we assume only 0.5% were canceled—where do you get those numbers?). As far as I remember, the “Founders Edition” was supposed to be limited to 20,000 units. The fact that it’s still being sold rather confirms my suspicions. Slightly below expectations. When the product’s enthusiastic users, who were told that order sequence would matter for shipping, decided to create a spreadsheet with an approximate shipping order, you had it taken down citing “concern for partners.” Of course, it didn’t matter that the spreadsheet revealed that, overnight, the order ID of the next customer increased by 400,000. You claim that users of “Immersed” (arguably the best VR work application right now, in my opinion) have logged millions of hours, but your data from the May 2023 quarter suggests the average is 20 minutes over three months per user. I won’t even get into the absurdly short videos showing monitors dropping from the ceiling—obviously, the core function of a productivity tool is watching cartoons. I understand about a million dollars went into that—nice. At this point, the entire project looks like a bottomless pit and a desperate attempt to secure a cash injection to deliver a few underpriced devices. Maybe it would be a good idea to also release the 2024 audit? Perhaps as a gesture of respect to the people funding your visionary games?
• I just got cancelled even though I invested way before the 1.07m limit. I can truly say at this point that I give Wefunder a 1 star having invested in lots of platforms. Most platforms put verify in real time and put people on waiting list if they have a concern that the money will not be accepted but not so with Wefunder. It keeps your money for over 7months and then cancels thereby making the investor to miss out on other opportunities elsewhere. I invested on July 22nd when on this platform, and then got an email a month later about crossing the 1.07 mark and their decision to move Reg D across. Only to get an email this morning that I have been cancelled. I probably will wait another 1 to 2 months before the amount is refunded. Truly offended by Wefunder, one of the first platforms in Crowdfunding that should be doing better than most but apparently is the worst. Any explanation why you shouldn't be doing better than most?
• What is the max limit for an investment on WeFunder? I also angel invest. Can I invest directly instead of on this platform?
• As friends & family of Immersed, I wish I could make a further investment with Immersed’s new venture into AI but notice minimum expected is $250. Wish it was from $100 up especially for us early “little guy” investors 🙏❤️🤩
• What valuation and terms did Pat gelsinger invest at? Was it the same as this round? How much did he invest?
• It might be another 5 to 10 years before VR is ubiquitous. This will be niche for a fairly small amount of people and you’ll burn through a lot of cash in the meantime. How do you plan to counter this issue? I happen to have an Oculus Quest but a lot of people I know don’t. Think, this is potential your largest problem, not the technology aspects.
• Congratulation Renji and the team on releasing Curator!! This will be my third time investing Immersed!! As an investor, I want to take a moment to commend your incredible work in pushing the boundaries of immersive technology. The future of AI-driven tools, like the AI Curator, is extremely promising, and I’m incredibly bullish. Keep believing in the mission and pushing forward!! I would also encourage to clarify some of the concern from investor regarding Visor performance and be transparent...
• Renji, I know I said I was up for a double up, don't hold it against me but I thought about it and decided a triple was more in line with your path forward. Might even push a bit farther after the 28th. Looking forward to it.
• Now that the blank check SPAC deal is terminated, will ya'll issue a press release on future plans/cash runway life?
• Mark McClain
• Pat Gelsinger (Intel CEO)
• Tim Tebow