Hi, I have a few questions. 1. Do you have a Form-C available? 2. When is the maturity date on the convertible note? 3. What type of shares will the notes be converting to? 4. Will interest be paid on the convertible notes? 5. What is your current burn rate? 6. What will be yo...

1. We do not have a Form C yet, but will be filing that shortly. Finishing up necessary paperwork with our accountant this week. 2. 18 months 3. Happy to send a sample of our terms to any interested investors via email to help answer questions. Simply request here or email us at team@lips.social. From our terms: "Conversion upon a Qualified Financing. In the event that the Company issues and sells shares of its equity securities ("Equity Securities ") to investors (the "Investors ") while thi...

Can you share the answers to the questions that Corinthius asked? (Frankly speaking, they're the types of questions that most investors will have, so simply posting the responses may be the better option as opposed to sending umpteen emails.) Thanks.

yes of course! Corinthius sent us an email, so we replied, but good idea to post our answers to his questions here. Will do so in a reply to his question to keep it organized!

Can you please answer Corinthius questions here?? I want to know your answers before I invest. Thank you.

Yes definitely! I added our answers to his questions in a reply to his post - check it out👇🏼

Besides, women, the LGBTQ and the heterosexual community can ordinary folks like myself/creators invest in the company and to have a verified account on the platform???

Great questions! 100% - Lips is open to anyone and everyone. All that we ask is that creators read and understand the community-written guidelines. In order to post and comment, users are asked to fill out a one-time application stating why they want to be on Lips and what they would like to post. As long as their sample posts adhere to our guidelines, we approve their account for posting. All approved accounts are verified, and we are working on a product feature that would display a badge s...

1) The burn rate shown in the Lips spreadsheet is much higher than the $4K/month mentioned below. What am I missing or not understanding? 2) What’s your user retention rate? 3) The E-Commerce sheet in the spreadsheet is blank, so can you provide some insight on projected gross...

Hi Kevin! 1) Yes, the burn rate as of today is very low because all of our team is working as volunteers currently, and we are not doing any major development work - just maintenance and bug fixes. Once we complete our preseed round we will be able to compensate our team to have them come on full time, as well as move into the next round of development for the app including our patent-pending ML/Blockchain technologies. So, the burn rate in the financial document is a projected spend based on...

Lips Updates, Team, and Funding Progress | Wefunder, Home of the Community Round

📈 Over 10,000 (!!) new users in our first month

🗞 Featured in Mashable, The Daily Beast, Forbes, Huffington Post, and Maxim

🤩 Celebrity support with over 6M reach ready to engage post-funding

📱Untapped Market of 350M+ Social Media Users

🤓 Patent-pending ML & Blockchain applications to prevent biased censorship, harassment & plagiarism

🧠 Headstream Grad - supported by Pivotal Ventures, an incubation company created by Melinda Gates

🏆 Winner LGBTQ+ Inclusion in Tech Award from WomenTech Network

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