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yoodlize

Yoodlize is a peer-to-peer rental platform

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Financials

We have financial statements ending December 31 2020. Our cash in hand is $59,264.30, as of March 2021. Over the three months prior, revenues averaged $385/month, cost of goods sold has averaged $3,003/month, and operational expenses have averaged $14,800/month.

At a Glance

Jan 1 - Dec 31
$18,161
+588%
Revenue
-$16,680
Net Loss
$59
-23%
Short Term Debt
$100,000
Raised in 2020
$59,264
+588%
Cash on Hand
Net Margin:
-92%
Gross Margin:
20%
Return on Assets:
-14%
Earnings per Share:
-$0.00
Revenue per Employee:
$6,054
Cash to Assets:
88%
Revenue to Receivables:
~
Debt Ratio:
0%
Yoodlize Inc Annual Financial Statements-Final.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 are a peer-to-peer rental platform where you can rental anything to or from your neighbors. You can make money on the stuff you already own, and rent the stuff you don't own but want to use.

In five years, we want to be expanded across the US.

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

Milestones

Yoodlize Inc was originally organized as an LLC in May 2018 then later incorporated in the State of Utah in December 2018.

Since then, we have:

  • Raised $200k in SAFE notes prior to this Wefunder campaign
  • 30% of accounts make transactions
  • Tested product-market fit over a one year pilot
  • The founder has started several businesses and recruited an experienced team for Yoodlize
  • An easy side hustle that allows people to earn money off of stuff they already own
  • The timing is right: with the wide acceptance of peer-to-peer platforms like Airbnb and Uber

Historical Results of Operations

Our company was organized in May 2018 and has limited operations upon which prospective investors may base an evaluation of its performance.

  • Revenues & Gross Margin. For the period ended December 31, 2020, the Company had revenues of $18,161 compared to the year ended December 31, 2019, when the Company had revenues of $2,639.
  • Assets. As of December 31, 2020, the Company had total assets of $118,602, including $104,430 in cash. As of December 31, 2019, the Company had $35,299 in total assets, including $18,052 in cash.
  • Net Loss. The Company has had net losses of $16,680 and net losses of $64,787 for the fiscal years ended December 31, 2020 and December 31, 2019, respectively.
  • Liabilities. The Company's liabilities totaled $59 for the fiscal year ended December 31, 2020 and $77 for the fiscal year ended December 31, 2019.

Liquidity & Capital Resources

To-date, the company has been financed with $200,000 in SAFEs.

After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 18 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

Yoodlize Inc cash in hand is $59,264.30, as of March 2021. Over the last three months, revenues have averaged $385/month, cost of goods sold has averaged $3,003/month, and operational expenses have averaged $14,800/month, for an average burn rate of $17,418 per month. Our intent is to be profitable in 36 months.

In Q1 2021, we ended the pilot period and stopped all work on user growth and activity to focus on improving the product.  We spent $40k on dev work to launch a new version of the app which is expected in April 2021. 

We expect our fixed expenses to be around 2k a month. We currently have no payroll or salary. We don't expect revenues to raise until we start to spend money on marketing. In six months, we hope (but not guarantee) to generate roughly $75k in revenue and approximately the same in expenses. We expect to need a total of $10M in capital to eventually reach breakeven.

While we are in communication with potential investors, we do not currently have other sources of capital to rely on outside of this Offering.

Risks

1

The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.

2

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.

3

To date, the Company relies on external financing. Our current revenues can not cover operating expenses. We are a startup Company and our business model currently focuses on growth and future expansion rather than generating revenue. 


Other Disclosures

The Board of Directors

Director Occupation Joined
Natalie Fairbourne CPO @ Yoodlize 2018
Jason Fairbourne CEO @ Yoodlize 2018
Troy Holmberg board member @ Asante Foundation 2020

Officers

Officer Title Joined
Natalie Fairbourne CPO 2018
Jason Fairbourne CEO   2018

Voting Power

Holder Securities Held Voting
Jason Fairbourne 5,000,000 Common Shares 50.0%
Natalie Fairbourne 2,000,000 common shares 20.0%
Jeremy Robertson 2,000,000 common shares 20.0%

Past Equity Fundraises

Date Security Amount
09/2020 SAFE $100,000
01/2019 SAFE $100,000

Outstanding Debts

None.

Related Party Transactions

During 2021, the company paid $ 40,000 to Wavelength Dev LLC for the development work on the app. Wavelength Dev LLC is owned and operated by Co-Founder of Yoodlize, Inc. Jeremy Robertson.

Use of Funds

$50,000 93.5% will go toward digital media marketing and influencer campaigns, and 6.5% toward Wefunder intermediary fee.

$500,000 We do not plan on hiring any full time employees. Everyone will still work for equity if we hit the 500k goal. 80% will go toward a comprehensive marketing plan. This include digital media marketing, influencers, affiliate and refer a friend programs, billboards and PR work used to expand into new markets. 13.5% operations, and 6.5% toward Wefunder intermediary fee.

Capital Structure

Class of Security Securities
(or Amount)
Authorized
Securities
(or Amount)
Outstanding
Common Shares 10,000,000 10,000,000

Form C Filing on EDGAR

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

Details