Risks Specific to PlantSnap
1. PlantSnap, Inc. is a startup, and has not yet launched a product.
2. There is a chance that the public won't care about identifying plants. If that is the case, no one will purchase PlantSnap, and the company will generate zero revenue.
3. There is a chance that only a small amount of people will download the app. If that happens, we won't generate enough revenue to be a viable company
4. If we are unable to generate revenue with the PlantSnap app, we won't be able to pay off our convertible notes. If we default on our notes, the company will have to declare bankruptcy.
5. PlantSnap is dependent upon the retention and addition of high quality employees.
6. Investors won't see a return until the company is acquired or IPOs, or becomes profitable and starts paying dividends to shareholders.
7. A competitor may launch a similar product. There is always the possibility that someone "builds a better mousetrap"
8. PlantSnap is dependent upon the continued support and involvement of key management, engineering staff, and employees of all types. PlantSnap’s success and ability to compete is dependent on its continuing ability to identify, attract, hire, train, retain and motivate highly qualified employees with knowledge of the businesses in which PlantSnap operates. If any of PlantSnap's key personnel were to quit the company or die, PlantSnap’s business may be adversely affected.
9. Although we will be charging for the app, our ability to continue operations is dependent upon ad revenue. If people don't use the PlantSnap on a regular basis, we will be unable to earn ad revenue. With no revenue, the company will be adversely affected.
10. Until now, PlantSnap has obtained sufficient capital for operations primarily from investors and cash infusions from the founder. Future operations depend on PlantSnap's ability to generate revenue. While PlantSnap may consider funding its business in the future through a combination of debt and equity financing, there can be no assurance that such additional financing will be obtained.
11. There are millions of mobile apps on the market vying for attention. PlantSnap operates in a sector where other participants create competition. The company operates in a market that is growing and will attract competition. Competition is driven by proprietary technologies and knowhow, capabilities, consistency of operational performance, quality, price, value, alternative therapies, and speed. Some competitors may have greater financial, research and development, operational and marketing resources than PlantSnap and be able to bring competing products to market. Greater financial, research and development, operational and marketing resources and experience may allow PlantSnap's competitors to respond more quickly with new, alternative or emerging technologies.
12. Eric Ralls is full-time at Plantsnap but is also operating the websites GreenAtom and Earth.com. He is also the CEO of Earth.com.