Question 1

How was the valuation derived?

Accepted Answer

Hey Sagar, we are raising under a SAFE with a valuation cap and discount, so a valuation hasn't been placed on the company yet. So this will convert to equity at a discount upon a priced round that we look to do in the near future. The cap was set based on our current and potential future government contracts that could be large dollar amounts. This cap allows us to raise our next round and keep the valuation in balance with the timing of that raise. Hope this answers your question and thank ...

Question 2

Hi, do you all plan on remaining an LLC for tax purposes post SAFE conversion, and do you anticipate remaining profitable?

Accepted Answer

Hey Lucas, necoTECH, LLC is an operating entity and the one that carries our government contracts, licenses, trademarks, and all that stuff. It is a wholly owned subsidiary of necoBrands, Inc, a Delaware C-Corp. The SAFE is an investment in the parent company, so that investors will have equity in that company once it converts. This way you get the benefit of all we do at neco. As far as profitability, yes that is the goal with everything we do. The unique part to us, is that we are working o...

Question 3

I gotta say I love the company so far but I do have a question on quality. only because many items ride the "Greener is best" ideaology but many of the green innovations either break super easy or detiererorate (hope i spelled that right) kinda of fast. How do these recycled w...

Accepted Answer

Hey Luke, We agree, some of the "green" alternatives aren't always better and play the sustainability side from an eco-friendliness, but not a sustainable long-lasting durability. This is where our partnerships and research agreements with the U.S. Army Engineer Research and Development Center (ERDC), Air Force Civil Engineering Center, and Ohio University come in handy. We literally go through massive destruction testing with all of them, and usually it's in cohorts with one of our contracts...

Question 4

When is the next "weekly" update?

Accepted Answer

Hey Jeremy. Was hoping that I could make the weekly work, but have been traveling down in Mississippi and Florida doing demos of the Robotic Crack Sealer for the Department of Defense. Also, have a big announcement that we were wanting to share, but have to wait until the news is public. I will be sharing something this week as I’ll be back in the office briefly….it’s been almost a month of travel. Appreciate the nudge :)

Question 5

Hi! Do you have a financial statement newer than the 2020 one? For either CY2021 or FY2021?

Accepted Answer

Hi Nicolas, we filed our campaign per the SEC requirements of 2 years worth of financials at time of launch, which then was 2019 & 2020. This allowed us to raise through 4/30/22. Since then, due to the response we got in those few months of having the round open, we went ahead and had our 2021 financials reviewed and are extending our campaign. It takes a little bit of time to file with the SEC and update, but you should see our 2021 financials on here soon :) Appreciate the interest and ...

necoTECH

Advanced automation & materials for more sustainable infrastructure

$270,425

necoTECH

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