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Pocket Properties

Enabling the democratization of real estate investments through technology

Last Funded May 2022

$58,115

raised from 181 investors
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Financials

We have financial statements ending December 31, 2021. Our cash in hand is $17,600, as of August 2021. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $560/month.

At a Glance

Fiscal Year Ends Jun 22
$0
Revenue
-$9,560
Net Loss
$0
Short-Term Debt
$25,000
Raised in 2021
$17,600
Cash on Hand
Net Margin:
N/A
Gross Margin:
N/A
Return on Assets:
-57%
Earnings per Share:
-$0.00
Revenue per Employee:
$0
Cash to Assets:
100%
Revenue to Receivables:
~
Debt Ratio:
0%
Financial Statements-Pocket Properties App Corp.pdf

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.

Overview

We give everyone the opportunity to build wealth by offering fractional real estate shares for as low as $10. These shares can be bought and sold just like shares on the stock market.

In 5 years Pocket Properties believes we will have 2.5 Million active users. We believe we will have $5 Billion dollars worth of available assets on our platform.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.

Milestones

Pocket Properties App Corp was incorporated in the State of Delaware in June 2021.

Since then, we have:

  • 🦄We’re a completely bootstrapped company within just 8 months our waitlist has grown on average 40% month over month!
  • 📲 We aim to make the most user-friendly fractional real estate trading platform.
  • ⛓ Powered by Blockchain Technology, a unique edge in the fractional real estate market.
  • 💰 Approved by our lender to begin acquiring residential real estate.
  • 📱 Pocket Properties is on pace to launch our first product early in 2022!
  • 🏠 Our team has a background in real estate and securities trading, we know & use these products!

Historical Results of Operations

Our company was organized in June 2021 and has limited operations upon which prospective investors may base an evaluation of its performance.

  • Revenues & Gross Margin. For the period ended December 31, 2021, the Company had revenues of $0.
  • Assets. As of December 31, 2021, the Company had total assets of $16,872.65, including $16,872.65 in cash.
  • Net Loss. The Company has had net losses of $9,560.40 for 2021.
  • Liabilities. The Company's liabilities totaled $0 for 2021.

Liquidity & Capital Resources

To-date, the company has been financed with $25,000 in SAFEs.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 20 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 4 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

Pocket Properties App Corp cash in hand is $17,600, as of August 2021. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $560/month, for an average burn rate of $560 per month. Our intent is to be profitable in 6 months.

No significant changes have occurred with in the time period in which this financial statements cover.

We expect to be generating revenue within the month of March upon our MVP release. As a result, we project Revenue in the next 3-6 months to be around $50,000. Expenses are expected to increase to $800 per month. (primarily server cost).

We are not currently profitable, but we are projecting to become profitable in 6 months. We will ultimately need to raise $20k to reach profitability. Any additional funds raised will be utilized for scaling purposes.  

This is a minority-owned bootstrapped company. Lack of access to capital is why we are on the WeFunder platform. We make money through the tokenization of real estate assets sold on our platform. 

Risks

1

The biggest risks to our company are changes in the SEC governance of blockchain, which is at the foundation of our platform.

2

Projected versus actual results: Pocket Properties App business plan and projections were prepared by its management and are based on numerous assumptions, which are subject to uncertainty due to the effects that economic, legislative, political or other changes may have on future events. Changes in the facts or circumstances underlying such assumptions could materially and adversely affect the projections. To the extent assumed events do not materialize, actual results may vary substantially from the projected results. As a result, no assurance can be given that Pocket Properties App will achieve the operating or financial results set forth in its financial projections and, accordingly, investors are cautioned about placing undue reliance thereon.

3

Craig Paris, Marshal Singh, Zachariah Rinhardt and Josh Rufolo are part-time officers. As such, it is likely that the company will not make the same progress as it would if that were not the case


Other Disclosures

The Board of Directors

Director Occupation Joined
Stanley Glover Co-Founder & COO @ Pocket Properties App 2020
Josh Rufolo CEO @ Pocket Properties 2021

Officers

Officer Title Joined
Stanley Glover COO 2020
Marshal Singh CFO 2021
Josh Rufolo CEO 2021

Voting Power

Holder Securities Held Power
Throne Capital Group LLC (100% owned by Stanley Glover) 5,100,000 Units of Equity 97.0%

Past Fundraises

Date Security Amount
5/2022 SAFE $58,115
8/2021 SAFE $25,000

Outstanding Debts

None.

Related Party Transactions

None.

Use of Funds

$50,000 7.5%- We Funder Fees / 47.5% To Legal Foundation / 15% To WeFunder Marketing / 15% To Product Development & API's / 15% To Operational Expenses

$250,000 7.5%- We Funder Fees / 43% To Legal & Acquisitions for MVP / 10% To WeFunder Marketing / 4.5% To Product Development & API's / 35% To Operational Expenses

Capital Structure

Class of Security Securities (or Amount) Authorized Securities (or Amount) Outstanding
Common Stock 10 5

Form C Filing on EDGAR

The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.

Details