I’d like to respond to the growing concerns about why this campaign hasn’t been given much attention and promotion. As mentioned in our last update, we have had a lot of BLAZnTECH buzz and company updates. We have also had a great deal of the firearms industry and outside investors' attention over and above our Wefunder campaign. Rapidly increasing product demand has provided an early opportunity to help BLAZnTECH establish mass production through new ownership – via acquisition.
Due to ongoing acquisition negotiations, additional details cannot be provided at this time. Should we arrive at a mutually beneficial arrangement, your pending investment will be refunded by Wefunder. We also promise to demonstrate our gratitude for your time by sending out our $195.00 kit to everyone that's processed over $500 (free of charge), smaller investments will be given a 50% discount.
I hope to see this company properly resourced and given the ability to provide my necessity-based invention to those who need it most – our military and law enforcement. Also, by modernizing weapons maintenance, BLAZnTECH is capable of making significant contributions for our local economy with employment, and even has the potential to save millions for taxpayers with pending procurement. Going through product development and starting a business directly after military service has been challenging to say the least. That being said, the desire to continue growing the company and sharing our success with Wefunder investors is an aspiration that remains very motivating.
Even though I have only begun to scratch the surface of our brand recognition and established demand, I have a long list of additional ideas that will complement our product roadmap. My vision for what this company is capable of accomplishing goes above and beyond weapons maintenance.
Should there be sufficient last minute grassroots backing from our Wefunder investors, we will continue our current Wefunder campaign and move BLAZnTECH forward organically. Our BLAZnTECH company is at a fork in the road and needs your support. Our decision which path to take will ultimately be driven by YOU, our wonderful Wefunder investors.
Please share our campaign and let us know your thoughts asap. Time is of the essence as we need to make a decision by Friday, September 15, 2017.
Respectfully and sincerely submitted,
Benjamin Bondar
BLAZnTECH
CEO & Founder
Andrew Bushnell
💥Top Contributor
This investor has been frequently Upvoted for their diligent questions
🌿Prolific Investor
This investor has made over 50 investments on Wefunder.
Sep 6, 2017
I think it's pretty clear from the ghosting that happened, the continued lack of responses to questions on the campaign, and the public musing of abandoning the Wefunder campaign completely - that the investors are not and will never be a priority for Blazntech.
Hi Andrew,
We hear you. You are correct. We have done a very poor job of replying and communicating what has been going on at Blazntech these past several months. You and others are right to be unhappy with our Wefunder updates absence.
Please forgive us. We have had a ton of background stuff going on during this time. Some of it has been good. Some of it has not worked out. This is not an excuse. It is just a reason.
Looking back now, we should have replied to every question in a timely manner and then posted our updates when things changed. We’ll try to do better going forward.
Honestly, our investors have not been among our top 3 priorities. Our 2017 top 3 priorities have been: #1 Produce the next 1,000 BlaznTech kits. #2. Fill and ship all of our sold out, backlogged, and presold kit orders. #3. Find additional funding so that we can pay some of our current expenses, have working capital, and hire the best BlaznTech leadership and management team that we can find.
We are trying to build our business as best that we can. We think that when we complete our top 2017 priorities that most investors will be happy that we are driving BlaznTech forward and will want to be aboard for the ride. I hope that you will join us too.
I have just yesterday replied and posted our questions to the best of my ability and understanding. Please go to our main Wefunder page and see my updates there. Thanks so much.
While I like your product. I was under the impression that investors capitalize when an aquisition takes place.
Hi Chris,
Yes, that would be the case if we accepted BOTH our current Wefunder campaign that will close on 30 September. Then, later on, had a buyout, acquisition, and/or exit event.
But our decision here is binary. It is either/or, not both. Our decision point is- Do we accept the buyout acquisition offer that we have, OR do we continue with our current Wefunder campaign.
As of today, we are leaning towards continuing with our Wefunder campaign and politely rejecting the current buyout offer.
Hello Benjamin, first of all thank you for the update. I am an unsophisticated European investor that really liked the product/idea behind it (and that is the reason, I haven't pull out my investment yet, waiting for your feedback). I believe equity crowdfunding campaigns is the future in terms of financing not only start-ups but other private companies too. Not only for collecting funds, but having the chance gather ideas/opinions/suggestions from the crowd (which varies from unsophisticated to sophisticated investors) while developing your business. Obviously it is your call to follow the best way for your idea/company; nevertheless what I would do, if I wear in your shoes, is that I would make part of the acquisition negotiations this campaign. You have already invested a significant time in this campaign, there is a pool of micro-investors that interest to participate not only their funds but also their suggestions, so why not asking the pending acquirer to continue the campaign? Regardless of what resources/capital this acquirer has, the support from the crowd is always important for such an early-stage product. Another solution, apart from acquisition, would be to continue the campaign via Wefunder and on parallel find some outside investors (since there is interest as you mentioned) willing to invest too. As another investor mentioned below, inform the Wefunder community the amount is needed for BLAZnTECH to be off the ground and see if you can raise that amount via this platform. Generally speaking, having proposals for acquisitions that early, means that you have a viable idea/product that down the road will worth more than they offer you now. It is though a different journey you have to follow, sometimes more challenging but also more rewarding. Again this is your call. Personally speaking, I would be very proud to call myself a micro-investor on BLAZnTECH and very curious about the future of this company, and I would wish seeing this campaign continues successfully. Thank you Anna Makra.
Thank you so much Anna Makra!
I get such a thrill reading what you and many of our other BLAZnTECH supporters think about our future company path.
I’m disappointed our pending acquirer has no interest in the continuation of our campaign (my team can vouch for my attempts in demonstrating its value). That being said, we do have many opportunities to consider additional investors outside of Wefunder. Also, I agree with you about how crowdfunding and micro investing platforms like Wefunder here are truly democratizing global investing opportunities for all involved. Because of you and others like you, there’s a big chance we’ll continue growing BLAZnTECH with Wefunder investors.
I am an initial investor having invested in February of 2017. If i read this correct as an investor of only $250.00 i receive only a 50% discount if this acquisition goes through. Your Investor Perks listed a complete kit free at the time of my account being charged. Is this not the case now? Thanks Vince Scott
Hi Vincent,
To clarify our initial Wefnder investor’s deal, when you invested $250 here, you’ll get a full BLAZnTECH kit free with your investment soon after our Wefunder crowdfunding campaigns end on 30 September. We’ll use the funds raised here for our BLAZnTECH production needs. You’ll receive your free kit as soon as we produce and ship them to you. That is still the case today.
Hi Vincent,
To clarify our initial Wefnder investor’s deal, when you invested $250 here, you’ll get a full BLAZnTECH kit free with your investment soon after our Wefunder crowdfunding campaigns end on 30 September. We’ll use the funds raised here for our BLAZnTECH production needs. You’ll receive your free kit as soon as we produce and ship them to you. That is still the case today.
However, If we terminate our Wefunder campaign, your BLAZnTECH investment will NOT be processed. Your pending funds will be refunded to you by Wefunder - only then would we honor the 50% discount for our $250 Wefunder investors. So, no worries today. The way things are going for us now, it may be foolish to have an early acquisition.
@Benjamin Bondar - Would you be able to share with the WeFunder community, and potential BLAZnTECH investors (I am a huge fan of your product and committed capital) how much you all would need to cover manufacturing of the product? It sounds like the acquisition may be the way to go... but if you can grow it a bit and then get acquired, you may be able to get a better exit. Curious to know though to see how much capital/support would be needed to truly get BLAZnTECH off to the races with manufacturing/production. Thanks. Andrew V.
Hi Andrew,
We need to raise a minimum of $150,000 on this Wefunder campaign to make our production target goals and related expenses work for us. And you are correct, most of our business and financial advisors have told us that if we can grow just a little bit bigger and meet our immediate demand, we’ll be a much more attractive company to more buyout offers and exit events within a few years.
💥Top Contributor
This investor has been frequently Upvoted for their diligent questions
You're never going to get anywhere near the $1mm you need on this campaign. If you have a ready and willing buyer for the business better take the best offer you can and move on to new projects. You'll have bragging rights when you see it in the stores and advertised in gun magazines, etc. and that certainly would lend a boost to whatever you decide to do next. Either way, all the best, and good luck.
Hi Barnaby,
Yes, I do have enormous pride when it comes to our BLAZnTECH kits and products! I want to see our kits and products wherever serious gun owners shop and confidently believe that it’s only a matter of time before we dominate the weapons maintenance market. We have had such a great response from supporters like you and others. We are now leaning towards growing BLAZnTECH organically with our products sales and Wefunder investors. And thanks so much for your good luck wishes. Your support is greatly appreciated!
I too am very impressed with your product. I would like to see you continue with the Wefunder campaign and not to compromise the possible greatness of this product.
Thanks, Linnea,
We do have great products! I have received a bunch of emails and social media messages about staying on our current Wefunder course. As of now, we are leaning towards continuing with our Wefunder campaign.
Thank you for the update. I have to second Andrew V. If the investing community knew how much the company needed to continue going on its own it could change the course of the product. There is no doubt that the demand and need for the product is there. The potential acquisition shows the support in the product even before a main stream launch. Imagine the possibilities after the product rolls out in mass production. Thank you.
Hi William,
We have crunched our BLAZnTECH production numbers, current and forecasted expenses, and what we need in our operating capital. As a result, we need a minimum of $150,000 from this Wefunder campaign. If you and others on Wefunder could help us raise our new minimum goal of $150,000 (or more) by the 30 September deadline, then we’ll stay on our current Wefunder and organic growth path. Big thanks!
Thank you for the update Benjamin. It's great to hear that others recognize the amazing solution you and your team created in BLAZnTECH. The 170+ investors who have committed funds to your company on WeFunder see the same thing. You've raised more than the minimum target sought here, so it would be a wonderful gesture to mirror the commitment of your WeFunder investors by investigating ways to allow us to continue to participate in the company. E.g. if it's a question of scale, perhaps consider raising the minimum investment amount per person. You have a winner here and no one wants to compromise the company's chances for greatness of course, so if you end up having to cancel our investments to move ahead, I'll understand but with regret for losing the opportunity to be part of that greatness. Sincerely, Sean
Hi Sean,
You and our other big BLAZnTECH fans are the reason that we started this Wefunder campaign in the first place! I'm grateful for your support and commitment to our continued success.
To answer your question, our prospective buyer rejected my attempts to have Wefunder investors included in their plans. To continue leapfrogging on our own into mass production, BLAZnTECH financial facts are simple - we need to raise a minimum of $150,000 on this Wefunder campaign to make our math work.
Thanks much for the quick response Benjamin! So it sounds like it's up to the WeFunder community to boost the investment total to $150K or more if we want to be part of this. How soon would that have to happen? Thanks again.
