About
Platform
Use-Cases
“We are missing opportunities for growth”
- Revenue
- LOI Stage
- Pro Billiards Tour
- Public House
- Live Bash
- Demo Stage
- Oilers
- Art Basel
- Super Plastic
- Comcast
- Exploratory Stage
- Nashville SC
- Valiant UofM
- Early Stage
- Flowers for Society
- Puma
- Roc Nation
- Roadblock
- Development - we thought we’d have 2 extra devs by August currently building the platform
- Mike is delivering on TMC while no one else is building the automated dashboard
- This is slowing down our whole schedule while the world is catching up and blockchain is getting hot again
- Closing Conditions until the $2.5 is raised
- Don’t need to pay back founder debts
- Subsequent Tranches contingent upon us closing $2 million and $2.5 million respectively (each need another $500k)
- You can approve every cent we spend in the meantime
- We can proceed with $105k in monthly burn (reduced by ~1/3)
- Reduced headcount by 3 (1 less sales, marketing, and engineer)
- No additional contracted marketing / galleries / events / new product development
- Reduced monthly storage, legal, T&E to $2,500 each
- Plan for finishing the raise?
- Prioritize smaller checks
- Speak with the Claritas network specifically - all of these conversations work out when people already know you
- Objections
- Why haven’t you raised the remaining $1.5 million yet? We helped with the additional $350k from Service Provider and Launch TN
- Money is tightening up across the board - doesn’t mean its not there just harder to get, more no’s before the yes
- We’ve pushed people on the timeline that
- A lot of funds want to be the lead or don’t want in
- Many funds don’t want to invest alongside a PE firm
- Can you operate effectively on the leaned out budget?
- Assuming absolutely no revenue at all and factoring in closing fees, $1.5 million still gets us over 12 months of runway
- What’s the status of your pipeline?
- Mentioned above
- How much in ARR is in front of you?
- We see all the opportunities listed as a minimum $100k ARR - many of these could be much larger
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