|1||High impact potential to solve an immediate and pressing problem|
|2||Talented team with a track record|
|3||Unique application of technology|
|4||High Growth Potential (cannot be guaranteed)|
The app fulfills an unmet need in the market place. There are no other apps that currently address what has become an emerging issue. There is no more pressing issue right now.
The business model is sound and current projections are conservative. There is a large market for the app and the model allows for easy access for potential customers. It also positions the app for multiple high influencers to endorse and support the use of the app. This will further enhance the value.
Empower citizens with the tools and knowledge to capture the truth.
Amplify voices so the truth can be seen and heard by the world.
Act on injustice and hold power to account.
Our goal is to be the world's leading platform for civil rights protection and community policing. We will power civic tech products and platforms around the globe so that all people will have equal access and opportunity to assert and ensure their rights.
PROBLEM WE ARE SOLVING
While a mobile phone camera is one of the most effective tools for police accountability it is just a tool to record. It does not give you insight into what to do before, during, or after an incident and limited in how it can help.
Did your rights get violated? Who can help? How do you share it with the press? Where to find a lawyer?
Reyets answers these questions and gives you a clear course of action to act upon your beliefs.
HOW WE MAKE MONEY
We intend to make money in 3 ways:
1) Freemium model - in app purchases to unlock additional languages/ features
2) Fees from partnering with government, organizations and non for profits
3) Collecting referral fees from lawyers
Our goal in the first 12 months after fundraising is to build out the monetization features of the app and acquire our first 500k users. We believe this will allow us to generate $3mln in revenues over the following year and set us up for 10x growth in year after that.
This is based on our assumption that public sentiment regarding improving law enforcement will continue to drive demand along with continued shift in funding to community and organization lead support.
HOW ARE APP FEATURES MONTIEZED?
As a result of our beta testing we ran experiments where we offered the app at various price points. Based on these tests we believe consumers would pay for additional features.
Given that it's important for people to have access to this app regardless of income we have determined that a freemium model is optimal.
HOW BIG IS THE MARKET
26 million people this year participated in demonstration in the United States, making these protests potentially the largest movement in terms of participation in U.S. history.
The protests spread to over 2,000 cities and towns in all 50 states.
This validates the desire for increased awareness and the need for community policing platform as more funding is allocated from police departments to fund these initiatives.
We are the platform that is powering this transition and the new civil rights movement.
MEET THE TEAM
HOW IT WORKS
If you are one of the 77 percent of Americans who own a smartphone, then there’s a good chance that every time you leave the house, you carry with you the most powerful tool for police accountability that exists today.
The Reyets app gives you the power to uncover and broadcast the truth with the tap of a button you'll stream, record video and know your rights to help you understand and navigate a potentially volatile situation.
INTERVIEW WITH CEO
APP DEMO AND WALK THROUGH
Reyets has financial statements ending December 31 2019. Our cash in hand is $0, as of June 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $0/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.
The Reyets app gives you the power to uncover and broadcast the truth with the tap of a button, you'll stream, record video and know your rights to help you understand and navigate a potentially volatile situation.
In five years, we hope (but not guarantee) to be the leading platform for civil rights protection in the world. Through our platform we aim to power civic tech products and platforms, so that all people have equal access and opportunity to assert and ensure their rights. The result would be severely decreased wrongful arrests, unwarranted harassment and violence.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Reyets LLC was incorporated in the State of Virginia in June 2017.
Since then, we have:
Historical Results of Operations
Our company was organized in June 2017 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To-date, the company has been financed with $25,000 in convertibles.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 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 6 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
Reyets LLC cash in hand is $0, as of June 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $0/month, for an average burn rate of $0 per month.
We spent a total of $124k since the inception of the project. We started working on Reyets q3 2017. Since then we have:
-Developed IOS and Android app beta apps and custom backend data management system
-Developed and design branding and website
-Developed a go to a market and digital media plan
-Participated in multiple conferences and received FAST company world changing idea award
-Acquired first 5,000 users on beta
*From Q2 2019 - 2020 we used our personal resources and funds form our company Unstuck Labs to continue to develop Reyets. This included use of office space, staff, and expenditure. (This is why we are showing 0 revenues and 0 expenditures).
Since the date of our financials, initial funding for the company has been used towards developing the app and content. No further expenses have been incurred and the team has not been taking any compensation.
We aim to generate income through: 1) referrals to lawyers/organizations, 2) in-app purchase for pro features (additional languages, locations, advance recording features), 3) contracts with government and other organizations to provide their citizens/members with services and reporting tools.
We expect to need a total of $50,000 in order to go to market in 5 months. If we raise $250,000, we hope to go to market in 4 months. Six months after generating revenues, our goal is to have earned $650,000 in revenues and $422,000 in expenses. These projections cannot be guaranteed.
For additional capital, personal funds from the founder may be contributed to the project. Loans, grants, and other funding programs could also be solicited.
Development Risk: While the ios app is mostly complete we now need to start the development of the Android app, and complete integrations with streaming servers. With changes in technology, there is a risk that development is delayed
Legal Risk: We feeling strongly that current laws will continue to support the rights of people to film the police. However, there is a regulatory risk that laws change requiring changes to the app.
Management Risk: 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.
Technology Risk: While the application has been approved and listed on the apple store. IOS policies may change and affect our ability to distribute and develop the app to ios users.
Part-Time: Ibrahem Alhaidari and Berker Hazar are part-time officers and as such, it may affect the pace of growth of the company if this were not the case.
Berker Hazar and Ibrahem Alhaidari 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.
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.
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) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
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