OVERVIEW
Boomerang was founded by a group of avid cyclists. Our mission to develop a line of bike theft protection products brought forth the Boomerang CycloTrac. The device is a portable tracker which uses a motion-sensing alarm and GPS technology to keep your bike safe, no matter where you travel.
We are in the production stage but pre-ramp. We have had revenue of $104,000 in 2019, $192, 000 in 2020 and $133, 000 YTD 2021. We are optimizing all areas of the company before we ramp to high volume. Our 3,000 customers growing to 5,000 before the year end give us a large user base and a lot of data to understand where we need to optimize before scaling.
THE PROBLEM
THE SOLUTION
Boomerang’s solution is the Cyclotrac V2, a bike Alarm and GPS tracker that attaches to your bike. The device includes a built-in alarm system and runs on Cloud based Software through an App. The GPS tracker can attach to your bike in multiple ways, but the most common attachment is under the water bottle cage.
When our customer leaves their bike at the coffee shop or store, they arm the alarm with the app. If anyone touches the bike, they are greeted with an audible alarm and the bike owner receives a text message and phone notification.
Our technology requires a cellular data plan. Our customers pay us $3.90 per month and we pay the carriers. We make roughly 20% of margin on the hardware and 92% of margin on the data plan.
THE MARKET
As far as we know, Boomerang provides a solution other competitors do not.
OUR TRACTION
As of August 2021, we have 3,000 customers paying us $3.90 each month. By December of 2021, we project reaching 5,000 customers.
We received an 80% satisfaction rating in a recent survey with customers. We are confident in our next firmware and app release and anticipate that we can achieve an 85% to 90% satisfaction rating.
WHY INVEST
Company | : | Boomerang Bike Corporation |
Corporate Address | : | 440 N. Wolfe Rd, Sunnyvale, CA 94085 |
Offering Minimum | : | $9,999.99 |
Offering Maximum | : | $1,069,999.59 |
Minimum Investment Amount(per investor) | : | $199.65 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 30,303 |
Maximum Number of Shares Offered | : | 3,242,423 |
Price per Share | : | $0.33 |
Pre-Money Valuation | : | $15,782,385.63 |
Voting Rights of Securities Sold in this Offering
Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses*
Time-Based:
Friends and Family Early Birds
Invest within the first 72 hours and receive additional 15% bonus shares
Super Early Bird Bonus
Invest within the first week] and receive additional 10% bonus shares
Early Bird Bonus
Invest within the first two weeks and receive an additional 5% bonus shares
Amount-Based:
$500+ Perk
Invest and receive 50% Product Discount
$1,000+ Perk
Invest and receive Free Boomerang Cyclotrac including one year of data.
$2,500+ Perk
Invest and receive additional 10% bonus shares
$5,000+ Perk
Invest and receive additional 15% bonus shares
$10,000+ Perk
Invest and receive additional 20% bonus shares
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Boomerang Bikes will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $0.33 / share, you will receive 110 Common Stock, meaning you'll own 110 shares for $33. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Boomerang Bike offering. Here's an excerpt describing the specifics of the change:
Issuer extended their campaign to 4/30/2022.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
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