Thain Electric Boat Company

Thain Electric Boat Company has been formed to offer the public an amazing line of electric runabouts, fishing boats, and tenders.

Advancements in battery and motor technology allows Thain Electric to design a line of vessels that will perform and compete with traditionally powered boats, but be totally powered by electricity. 

Thain Electric will be a market leader in electric runabouts, and buyers will know that every Thain Electric boat available for sale will be fast, quiet, and beautiful. 

We began with the best team we could assemble

• Rob Smith: President and visionary.  Also the CEO of Earthwise Ventures, CEO of Thain Boatworks Inc. and Chairman of the Board for Race Against Malaria.
• Thain Boats Inc: our boat builder.
• Marc Fulmer: Director of Project Management. Also Executive Director at Race Against Malaria and Project Manager at both Earthwise Ventures and Thain Boatworks
•  Andy Ashmeade:  Structural design engineer, specializing in yacht design and development. With a Masters degree in design, he manages the technical, creative and organizational functions essential to manufacturing and production.
• Steve Dittoe:  Director of Sales and Marketing. Also the CEO and owner of Everett Yacht Sales.
• Richard Brune: our Marketing Consultant with One Accord Partners. 

We've planned, planned, planned; then tested and tested again

 When testing proved the innovative design, construction of new hulls began and the project stands ready for WeFunder investors to capitalize on the vision.

How we will make a profit from Thain Electric's 16-E runabout?

1) We begin with an exclusive marketing agreement with Everett Yacht Sales to sell and distribute the Thain Electric 16-E nationwide. Everett Yacht Sales is a leader in the sale of performance boats the Northwest.

2) After reviewing the competition, we priced the Thain 16-E competitively with an MSRP of $49,500, significantly less than other boats with similar performance characteristics.

3) We have tooled our factory to produce an estimated 150 boats in the coming year and stand ready to scale this production level up to meet demand.

Total Costs and Timeline

Total Costs and Timeline

Thain Electric boats' new line is projected to cost between $2.5 million and $3 million to develop, build, and market. We anticipate the WeFunder offering will raise between $200K and $1.07 million. We will continue to solicit our private networks for additional private capital and are confident in our abilities to raise the remaining funds. While the raise is going, we intend to bring in additional revenue through click ads and social media.

With the launch of the new Thain 16-E in the summer of 2020, Thain Electric Inc. will launch a vigorous promotional marketing campaign, including traditional and social media markets. Each investor will receive a number of shares equal to the amount invested divided by the liquidity price. The liquidity price is equal to the Valuation Cap of $50,000, divided by the total number of shares outstanding on a fully-diluted basis at the time of the liquidity event. The sale of one hundred and fifty (150) Thain 16-E boats to the public will be considered a liquidity event under our SAFE agreement with investors.

To the extent that the SAFE securities are converted into shares of preferred stock, the Company expects to make a distribution to our shareholders of all of our cash proceeds from the sale of the one hundred and fifty (150) Thain 16-E boats after the deduction of all expenses and accrued liabilities of the Company. Accordingly, the investors will receive their pro-rata portion of all of the net proceeds from the sale of one hundred and fifty Thain 16-E boats, other than $50,000, which would be paid to the founding stockholders of the Company. If less than enough money is available to pay all investors their money back, the investors will participate in the net proceeds from the liquidity event on a pro-rata basis.

No assurance can be made that one hundred and fifty (150) Thain 16-E boats will be fully constructed or sold. The foregoing also assumes that future capital raises necessary to build the Thain Electric 16 will be done using similar SAFE securities on equal terms to those being issued to investors. If we have to issue securities that are more favorable to future investors than those being issued in this offering, then the risk that you will receive less than all of your investment back will significantly increase.

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