|1||Women Founded/CEO leading the company with over 25 years of expertise in launching technology products.|
|2||Totally unique and compelling "Smart" product line based on core, patent pending technology.|
|3||Investment includes entire portfolio of breakthrough high tech products for "Smart Storage".|
|4||Seasoned team has proven track record in start-ups delivering fast cash exits for Investors.|
|5||Flagship "Smart-Lid" Product chosen as Tommy Chong favorite for 2020 with strong demand.|
|6||Clear need and demonstrated demand for a high tech storage solution. Huge market potential.|
When we saw the breakthrough technology and vision Pendram had, we knew we had to invest. This high-tech company is solving major pain points in multiple industries with their unique Smart Storage Solutions. With powerful brand and marketing leadership, coupled with a new category of high margin products that consumers are really excited about. Pendram has an extremely promising future. Honestly, the biggest challenge this team faces is keeping up with demand-which as an investor, is a great problem to have! All of these pieces combined make this a very exciting investment opportunity and we are honored to walk along side Pendram as their lead investor.
Pendram has financial statements ending December 31 2019. Our cash in hand is $33,127, as of July 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $8,000/month.
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.
Pendram’s proprietary patent pending smart technology called Intellisphere IAC creates the perfect atmosphere and sets a new standard for precise storage conditions with smart flexible control from anywhere. Pendram's business model is innovation and a mission to protect, preserve and optimize the long-term quality of perishables.
In five years, we hope (but not guarantee) to have a successful exit with lucrative investor returns.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Pendram Inc. was incorporated in the State of Delaware in December 2015.
Since then, we have:
Historical Results of Operations
Liquidity & Capital Resources
To-date, the company has been financed with $249,500 in SAFEs and $6,000 in convertible notes.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 3 months before we need to raise further capital.
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 2 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
Pendram Inc. cash in hand is $33,127, as of July 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $8,000/month, for an average burn rate of $8,000 per month. Our intent is to be profitable in 24 months.
Since the date of our financials, we established our online present for multiple products, built several working prototypes, successful social media campaign for flagship product with celebrity endorsement, and filed 3 full utility patents on our products and technology (patents to be owned by Pendram Inc.).
We hope to reach a revenue generating point in 9 months if we raise a total of $2M from a combination of this Wefunder round and institutional investors outside of this offering. We raise less than that, we can still go to market, but will take longer and might also require additional outside funding.
Six months have reaching a revenue generating point, we hope (but not guarantee) to generate approximately $800,000 in revenue and incur $350,000 in expenses.
For additional capital outside of the funds raised in this offering, we can rely on founders, friends and family.
We will face certain risks and challenges in delivering our cutting edge product at the time we demand of ourselves. Our working prototypes need to be redesigned for mass production. We have significant proven experience and are confident in this area, but there can be no guarantee that this can be done at a reasonable cost or timeframe.
Investment market climate and general investor response uncertainties, for example those created by the Covid 19 pandemic, may impact our ability to raise capital in a timely way which would have an adverse effect on our operations.
Strained US-China trade relationships may impact our ability to source key components and supplies we need in order to achieve volume production.
As with other investment opportunities, there’s always a risk of losing your investment.
Securing future talent could be an issue due to financial resources.
Brand retail penetration will be more of a challenge due to Covid 19 limitations on trade shows and sales events.
Cannabis legalization and legalization progress may affect sales growth rates and impact marketing efforts.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2).
Jonathan Siann is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
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