It’s that time again. We’ve got a great update for you on all the progress we’ve been making at AmmoSquared Inc.! Since there is so much going on, I’ll start posting investor updates every 2 weeks instead of monthly so you can stay up to date on everything.
Let’s get started…
First off, I want to highlight that we updated our Growth Trend chart through January. Our customer growth trend is looking good! We're seeing a great trajectory over the past three months:
For those of you who like numbers: we’ve grown our subscriber base 13% since the start of the campaign in November from 979 to 1,109 active ammunition subscribers. Monthly Recurring Revenue (MRR) has also grown to $42,305 which is up 6.7% from November. We've noticed that new customers generally come on at a lower dollar amount which depresses revenue a little compared to customer growth, but as the new customers get comfortable with our service they increase their monthly allocations over time.
One thing to take note of, we haven’t really started advertising AmmoSquared directly, this growth is from our exposure around the Wefunder campaign. We also haven’t yet fixed our “leaky” bucket of new customer onboarding and retention yet - one of our big action items with the funds we receive from the Wefunder. So, even with the challenges that our new and existing customers face today, we’re growing our base substantially over time. That says a lot about our potential. We're like a coiled spring. With our new system and the intelligent application of marketing dollars to future customer acquisition, we expect to double or triple our current customer acquisition rates.
Last month, the entire AmmoSquared team took a trip to "lost wages" Las Vegas... We weren't there for the gambling, however, but rather for the annual industry trade show: the Shooting, Hunting, Outdoors Trade Show. (SHOT Show). For gun guys (and gals) it is like Disneyland meets Sarah Conner’s armory from Terminator 2: more guns then any sane human has time to look at. For us, it was mostly about two things: talking to ammunition manufacturers and figuring out exactly what will be in YOUR investor perk packages. For our little remote team it was also a great time to meet in person and get some serious work done and share some laughs as well. Oh, yeah it was CROWDED...
We had some really great discussions and made contacts with folks at Wolf, PMC, Magtech, Norma, Lapua, Sierra, Sig, Federal, Speer, Spark Munitions, Apex Munitions, and Corbon. Our goal was to hear about their latest offerings and start the discussion about buying more ammunition direct. As we grow, that is one area where we can improve both our ammo selection and our margins. In fact, if you are at all curious about the new ammo offerings hitting store shelves, we posted the 2020 SHOT Show Roundup on our blog which covers some great topics like the new 277 Fury hybrid from SIG - a potential industry game changer. Look at that... the great part about being an investor in an ammunition company is that you get to hear about exciting stuff like this! :)
The other exciting topic that should be near and dear to your heart is PERKS. While we were at the SHOT Show we got to talk to a good number of companies about products that we can add to our $1000 investor perk bag. We talked to a half dozen or more bag manufacturers and have narrowed down our shortlist for the tactical bag we’ll be giving away. (they are pretty slick if I do say so myself!) We also talked to flashlight companies, knife companies, accessories companies, and companies that made products we’d never even seen before - all with the goal of filling out the coolest $1000 tactical bag perk you can imagine. We also talked to a company that makes challenge coins - so we can give everyone that invests a little memento. As we get pricing and quantities nailed down we'll start letting some cats out of their collective bags, and posting pictures of the awesome PERKS and SWAG we're assembling to distribute to all of the campaign investors.
One exciting side trip we did make was to visit the Zappos campus. Believe it or not, they actually offer tours! Our purpose for a tour of the campus was to hear about the Zappos company culture and learn how they have been so successful. As a new team we want to make sure our company culture is well defined and rock-solid as we grow. It is especially challenging for us because we are a remote team with (so far) half of us in Idaho and half in Texas. To be honest, we learned a lot on the tour about what we liked and didn't like. We took away a few ideas of how we can work together better and how things will look as we start adding employees. It was a great learning experience for our executive team.
We recently partnered with Rocket Dollar so now you can invest in AmmoSquared Inc. through a retirement account like an IRA or 401k! With Rocket Dollar, you can invest in alternative options like gold, real estate and start-up companies like AmmoSquared Inc. in a tax-advantaged retirement account. Rollover old retirement accounts for a one time fee of $360 and $15 a month. If you use the code AMMOSQUARED you’ll get $50 off at checkout. You can read the FAQs on how this works or SIGN UP if you are ready to start.
Now that we have had our first (and only) rolling close we'll have more funds to start our technology build and reach more investors. So if you are an existing investor and want to put in additional investment, that isn't a problem at all. If you already participated in the first close and want to add more, you can create a new investment and contribute. Your TOTAL investment will be used to calculate your perks. Also, as far as distributing Perks go, we are still planning on waiting until the end of the campaign so that we can buy in the largest quantity possible for the best pricing. Then we might need a whole "tent city" operation set up to ship everything out to hundreds of investors! Oh boy that will be a sight!
That's it guys. Sorry for the length, we'll break these up in the future into smaller "bite sized" updates... See you at the range!
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