Cryptid
Produce a Horror Feature Film
Small OPO
Brooklyn, NY
Film & Video
Accepting International Investment
Want to be part of an old school creature feature?
What do we mean by “old school”?
We mean practical, we mean real, tangible effects, like the horror movies of the 70’s and 80’s. The terrifying ones before all the CGI fake stuff.
Now with the passing of the JOBS Act, and the continued financial success of horror films in the market, we felt this is the perfect time for this offering.
Horror movies are thriving. A genre that used to be relegated to the fringe has now more than tripled their market share in the last three years.
(Source: The Numbers)
In the past, there was no great or easy way for most people to be able to invest in films. You either had to know somebody, be wealthy enough to be an accredited investor (have a net worth of at least $1,000,000, or have income at least $200,000/year), or donate your money to a random Kickstarter project, which gets you nothing in return but maybe a credit, a tee shirt, or some other random thing.
Well, now, anyone can invest as little as $100 and own a piece of movie history. That’s right, history. No full length narrative feature horror film has ever offered equity to the general public in this manner. (That we are aware of). We are opening the door to anyone who wants to be an integral part of this magical process of filmmaking.
Short Term Goal:
- Produce an amazing horror film in 2018 called "Cryptid"
- Get it ready for sale at the American FIlm Market in November 2018
- Secure a Minimum Guarantee with a reputable distribution company.
Long Term Goal:
- Secure a revenue stream through digital distribution to provide investors with returns for decades to come.
All this with the intention of attaining profitability in less than three years.
But let's not get ahead of ourselves. Let's talk about the horror film we want to make with you. Caution, it might be scary, not to worry though, let's hold virtual hands and get through it together...
Brass Tacks
What kind of Investment is this?
Investment type: Non-Managing Membership Units
$100 per Non-Managing Membership Unit | When you invest you are betting the company’s future value will exceed $207,000.
For investors, all of the adjusted gross profits* go to you first, before any producers, actors, director, etc, sees any returns.
Once every investor has been paid back 120% of their investment, then all net profits will be divided into two profit pools, each equal to 50%. One pool will be for investors to share pro-rata, pari passu with all other investors against the full budget of the film. The other pool will go to the producers (actors, director, writer, etc.).
This type of revenue sharing of profit occurs in perpetuity. Potentially allowing returns for the next 20 or 30 years, or beyond.
Minimum Investment: $100
Security Type: Non-Managing Membership Units
Round Size: Min: $10,000; Max: $107,000
Pre-recoupment: Investors will retain 100% of the Company’s ("Cryptid LLC") adjusted gross profits* up to the repayment amount of 100% of their investment, plus an additional 20% bonus, then a prorated share of 50% of remaining (net) profits.
*gross profits allocated subject to terms of Cryptid LLC Operating Agreement attached as an Exhibit to the Offering Document below.
A Growing Need
Where are all the good creature features?
Photo: JAWS (1975), Alien (1979), Dog Soldiers (2002)
As a whole, the digital filmmaking industry has helped horror films immensely. Allowing lower budgets to produce higher quality products while steering clear of the watering down that can occur from big studios. This has been a great thing, as we believe independent horror tends to have the best and freshest takes on the genre.
However, what we think has gotten lost are the great creature features.
We love them, but we can't find them! To be fair, there have been a few recent ones that we think are great (we're looking at you "Dog Soldiers", "Attack the Block", and "Rogue"). Unfortunately, though, they were far more common years ago. They took interesting characters and weaved them into a captivating story which relished pitting unsuspecting humans against a perversion of either nature or science in a battle of wits and/or strength. Not anymore.
The ones that do come out now we feel are too silly, with flat characters, over-reliant on CGI and digital effects, and are too quick to show you what a computer can do.
We think the heart and soul of a great creature feature is one that focuses on characters, and story. Then teases you into thinking about what it could be, and brings you along slowly until the fear and tension are at its peak to finally show its hand. A terrifying drama, in other words.
That's where "Cryptid" comes in.
The Story
"Its a little bit mystery, a little bit redemption character piece, and a little bit of creature carnage"
"Cryptid" is the quintessential creature feature throwback. We say throwback, but truth be told, it's not a complete throwback, as in the 50's sense. It's more like a seventies or eighties throwback.
Films like "Alien", "JAWS", and "The Thing", those kinds of throwbacks, the classics!
The story centers on a slacker journalist, named Max, who discovers that a series of grisly animal attacks in his sleepy little town of Maine is not what it first appears to be. Certain the authorities are on the wrong track, he takes it upon himself, along with his photographer partner Harriet, to uncover the mystery behind these gruesome killings before it's too late.
It's "JAWS" meets "Zodiac": A little bit mystery, a little bit of a redemptive character piece, and a little bit of creature carnage. It is the Triforce of horror films.
We put together a proof-of-concept first scene of the film to give you a taste of the movie we can make together.
"Why Horror?"
Director's Statement
Photo: The Killing of Jacob Marr (2010)
"Horror movies will always have a firm hold on the watershed moments in my life. From the first time I saw a giant shark fly out of the water, I was hooked. As a natural extension from a kid watching adventure films and transitioning to more adult drama films, horror films allowed for that mysterious unknown element that branches off ever so slightly from reality. The faceless unstoppable killer, the talking doll, the stalking alien on a ship, all exposed me to elements beyond the everyday reality of life.
Fear was a huge catalyst for me,and horror movies allowed me to experience fear in the best way possible, from the safety of my living room. These movies I watched, transformed the ordinary and made it something surreal and terrifying. Turning normal shapes and shadows on my bedroom wall into the endless depths of a boy’s expanding imagination."
- Brad Rego (writer/director/producer)
History of Us
What else have we done?
First, a quick bit about us before we talk about the investment. The production company for this film is based out of Brooklyn, NY by the name of 221 Films, Inc.
221 Films, Inc has released a variety of festival shorts as well as two feature films, written and directed by Brad Rego, under its production banner. The company specializes in producing films in the horror, sci-fi, and action genre. The last feature of which, "The Killing of Jacob Marr", won multiple awards including Best Directed and can be viewed on a variety of platforms, such as Amazon Prime. Here is a review from Aint it Cool News.
The focus of the company is to tell compelling, tension building, scary stories that are marketable in the independent film world. We believe in making great movies, that are also scary as hell. We also believe that's what audiences want and are willing pay money for, a genuinely compelling film that frightens them.
To boil it down to a simple mission statement:
We believe in story over special effects, characters over stereotypes, and tension over gore.
(Not to say we don't love blood and carnage, we just like tension a little bit more.)
Aside from the films produced by 221 Films, Inc, Brad Rego works as a freelance cinematographer in the industry, and has shot feature films, commercials, and documentaries, as well as shooting for shows on TLC, PBS, Hulu, and the DIY network.
Previous 221 Films, Inc Releases
Boundaries
- Accepted in the NY Shorts Film Festival.
- Available on Amazon Prime.
The Assemblage of the Crystal Sphere
- Accepted into the NY Independent Features Film Festival.
- Distributed on Netflix DVD, Amazon Prime & DVD, and Hastings.
- Surpassed its investment in less than 2 years.
The Killing of Jacob Marr
- Won Best Director, Cinematographer, Composer, and Special Effects.
- Distributed on Amazon Prime Worldwide, TubiTV, Comcast XFinity StreamPix, UDU Digital, and Roku.
- On pace to surpass investment in less than 4 years of distribution.
Cabin 11
- Won "Best Supernatural Short" Award at Atlanta Horror Film Festival
- Pending several festivals
"Where is this money going?"
Budgets, stretch goals, and creatures suits...
Ok, let's get into the nitty gritty of this investment. You'll notice in the budget breakdown below that it is more than what we have listed for this round of funding.
The reason for this is we want this to be a great creature feature among the pantheon of great creature features. That said, the budget needed to fully complete this film is $374,100. That budget includes everything during the production (cast, crew, housing, food, transportation, props, creature suit, equipment, etc...) and post (editing, composing, coloring, mixing, etc...), as well as obtaining two named actors in the cast (one for the main character of Max the journalist, and one for the supporting role of the town sheriff, Charlie) .
All things considered, it's a pretty low budget for a feature film, but one that we feel will allow us to make the best movie we can, while still stretching our dollars as far as they will go.
However, our initial intention here is to just raise the first $107k of starting funds. Once we have that, we can start hiring financial personnel (such as Sales Agents, Distribution Representatives, Executive Producers, etc...), and by adding these people to our team now, we will be able to build with an eye towards distribution from DAY ONE. This allows us to cast the film based on art/commerce, and utilize International/Domestic Reps recommendations. Doing this and combined with our existing industry connections we will look to obtain matching funds, as well as international pre-sales, and debt financing to cover the rest of the budget.
First goal: If we get the full $107k, and there is still time on the campaign, we will expand the campaign and lessen the amount of the investments needed in the other areas. The more we can get from this campaign, the more leverage and flexibility we have when dealing with the other methods.
Our stretch goal: If we are able to raise more funds then $374,100, we will use the additional funds and work with our sales agent to obtain additional named actors for the cast to increase the films projected profitability and exposure.
Regardless of where this campaign ends up. It's important to note that every penny raised for this production, will end up on screen and go towards making this film the best it can possibly be.
Budget Breakdown
Production $155,200
Cast $65,700
Post Production $43,500
StartEngine $21,000
Producer $15,000
SFX $13,500
Insurance $13,000
Writer/Director $10,000
Contingency $10,000
Marketing $10,000
Unit Production Manager $7,200
Casting Agent $5,000
Accounting $5,000
Total $374,100
Distribution
Domestic
Film Festival Targets:
- Sundance (late January)...
- Berlin (early February)...
- South By Southwest (mid March)...
- TriBeca (mid April)...
- Cannes (mid May)...
- Telluride (mid August)...
- Venice (late August)...
- Toronto (mid September)...
- New York Film Festival (late September)...
Once "Cryptid" is completed, the first step of the plan is to get accepted into a variety of top tier film festivals, which will grow its exposure.
However, regardless of where the World Premiere is, by bringing a sales agent and distribution representative on board during pre-production, those relationships will allow us to hit the ground running with a goal to obtain at least $374,100, as a minimum guarantee (MG) for the Domestic rights to the movie.
Selling these licensing rights will provide maximum exposure to revenue through a variety of video-on-demand platforms such as Netflix, Amazon Prime, Hulu, iTunes, and Cable providers, as well as possible Box Office and DVD/Blu-Ray.
International
Additionally, we will also be looking to partner up with a Foreign Sales Agent to market and sell the movie internationally, territory-by-territory, at the many film markets and conventions held throughout the year. These markets and conventions take place in various cities (Cannes, France, Berlin, Germany, Santa Monica, California, etc.) around the world, where buyers from 39 non-US countries seek to purchase the rights to independently produced movies such as “Cryptid”.
Sales Projections
Below are the calculated projections, based on the business plan created by industry producer Rob Margolies for what’s expected to be made off of “Cryptid” from all domestic and foreign sales.
All projections are under the assumption of no Minimum Guarantee. If an MG is attained, the numbers could potentially be much higher.
Projected Sales Low Case
Projected Sales High Case
$683,200 in adjusted gross proceeds within five years in the low-case scenario. (82.62% ROI)
Adjusted Gross Proceeds goes directly to investors first.
$1,800,800.00 in adjusted gross proceeds within five years in the high-case scenario. (381.36% ROI)
Adjusted Gross Proceeds goes directly to investors first.
"And what do I get again for investing?"
Simple, you'll get an equity stake in the company Cryptid, LLC (As Non-Managing Membership Units, see Terms section). It's only purpose is to make and market the motion picture "Cryptid" and to derive revenue from that intellectual property. The revenue generated by this film, will grant you a return on said investment plus 20%, and then once paid back, as a profit sharing revenue stream forever.
Not to mention, you will be part of the crew! Enjoy weekly updates and track your investment from the first table read through production, post, marketing, and sales. You'll be there to experience it all.
But wait there's more!
We also have a list of exclusive Perks that investing in this campaign here will grant you that you can't get anywhere else. Depending on the investment amount, that could be behind the scenes sneak peeks, invitations to the set while filming, producer credits, meeting the cast, or entry into private screenings of the premiere. (See the below Perks for more details)
"...but seriously, why horror?"
Horror movies are on the rise
If the recent success of movies like "It", "Get Out", or "It Follows" surprises you, it shouldn't, because horror films have been the most bankable films, in terms of return on investment, in movie history.
Let's look at that statement in more detail.
Out of the 20 most profitable movies of all time, based on return on investment, 10 of them have been horror. That's 50% of the movies that have returned the most money to investors.
Also, within the last few years, horror films have experienced a greater surge at the box office, capturing a greater piece of the overall pie. So much so that the market share for horror films has increased from 2.46% in 2014 to 10.96% currently in 2017.
(Source: The Numbers)
One reason for this is the budgets for horror films tend to be much smaller versus other types of films. It won't capture the giant headlines of the latest Marvel movie, but it doesn't have to. A typical studio movie will have a 200 million dollar budget with at least that much on top for marketing costs. It would need 400 million just to break even! With "Cryptid", however, its performance level can be much lower while still returning a higher percentage to you.
Another reason is horror fans have a real appetite for independent horror films. They are driven to these type of films constantly. Movies like "Blair Witch", "Paranormal Activity", "The Babadook", or "It Follows" were produced outside the studio system, but because of horror fans seeking out these lower budget films, they were able to get a mass release for maximum dollars.
Home Media and Entertainment Market
"The U.S. M&E market, which represents a third of the global industry, is the largest M&E market worldwide. The U.S. industry is expected to reach $804 billion by 2021, according to the Entertainment & Media Outlook by PriceWaterhouseCoopers (PwC)."
(Source: Select USA)
"Overall video entertainment spend is set to rise to $280 billion by 2020, with a CAGR of 3%. In 2016, pay-TV accounted for 86% of global video entertainment spend with the pay-TV share of the market to remain stable as growth is in-line with spending on both physical and digital home video. SVoD was the standout performer of 2016 and momentum is expected to continue well past 2020"
-Tristan Veale, Market Analyst at Futuresource Consulting
(Source: Future Source Consulting)
Competition
Whoa, whoa, did you say "creature suit"?
We believe our ace in the hole is a good ole' fashioned scary creature. That's predicated on using practical effects wherever possible. This means a person in a real monster suit.
Sadly, that's rarely done anymore!
That's why our talented Special FX team will create a custom suit on an actor, which will allow that person to "become" the creature and interact in a real sense with the other victims, er...I mean cast, creating a little bit of old-school creature workshopping.
Combine that with an engaging story and we believe this attention to detail and craftsmanship sets us apart from the competition.
Photo: American Werewolf in London (1981), JAWS (1975), Alien (1979)
Perks
In addition to getting equity in Cryptid LLC, we also have a set of Perks depending on your total investment in our company.
- $100+ Exclusive behind-the-scenes peek via email updates during production.
- $500+ Receive a "Special Thanks" credit in the film, as well as on IMDB. Includes all previous perks.
- $750+ Take part in an exclusive live Q&A with the writer/director. Includes all previous perks.
- $1,000+ A personalized "Cryptid" postcard to you, signed by the cast, director, and producer. Includes all previous perks.
- $2,000+ Receive one of the props actually used in the film. Could be a fake bloody arm, a fake gun, fake newspaper, etc... We'll give you some options.... See the movie with the cast and crew! One ticket to the premiere in New York City. (Time and date TBD). You’ll have to provide your own travel and accommodations. Includes all previous perks.
- $5,000+ Receive a piece of the creature suit. Could be a clawed hand or foot, leg, or head from the actual suit created for and used in the film. (Limited availability).Signed by the creator, if desired. Includes all previous perks.
- $10,000+ "Associate Producer" credit on screen and on IMDB. See the movie with the cast and crew! Two tickets to the premiere in New York City. (Time and date TBD.) You’ll have to provide your own travel and accommodations. Includes all previous perks.
- $25,000+ "Co-Executive Producer" credit on screen and on IMDB. Visit the set while we're filming! You and a guest get to meet the cast and crew and hang out. (Filming date/location TBD.) Four tickets to the premiere in New York City. (Time and date TBD.) Name a character in the movie, and it will be said in the film. It could be your name or a name of your choosing. We get to choose the character and to approve the final name though. Includes all previous perks.
*All perks occur after the offering is completed
You are investing in equity in this offering. Perks are meant to be a "thank you" from the company for investing, and to provide you with an experience not available to the general public. If you qualify for a perk that can only be fulfilled by being at a certain place on a certain date (visiting the set, coming to the premiere, etc.), and you cannot make that time and place, we regret that we cannot change our schedule to accommodate any investor -- you'll have to forego that perk.
All investors receive the same pro rata share of the revenue whether or not they claim a perk.
FAQ
Isn't CGI better?
Listen, CGI is incredible. No one is denying that. It has made things possible on film that just wasn't before. I don't want to give the impression that CGI is some sort of bad thing. It's just that, in a horror movie, we think it's kind of a bad thing. It becomes a crutch. Many times when the creature in question is CGI it creates a disconnect with the audience. Whether it doesn't look real, or it's shown too much, the effect is lost. We think too much time on computers, not enough time on the characters, story, and suspense. Certainly, there are exceptions to the rule, but think about JAWS, or the original Alien movie. Other than in the last five minutes of the film, you never see the creature head to toe. Only parts of it are shown. That mystery allows the audience to fill in the gaps and create something that is uniquely terrifying to them.
Why invest in this horror movie over another?
Well, not only do we love horror films, we also believe we have a unique voice in horror. We aren't looking for plug and play stereotypical disposable characters into standard horror situations. We strive to make a good quality film, with a compelling story, and characters that we care about. But we also have the experience to bring the film to the market. Something we have done twice. We think this combination makes us a solid investment.
What's the difference between equity crowdfunding and Kickstarter or Indiegogo?
In our opinion, it's HUGE! Kickstarter and Indiegogo are great platforms, and help so many people get creative projects done. However, at the end of the day they are still asking people for donations without any sort of monetary return. There is no pressure on the project owner to complete anything because the transaction is done. What's more is, if the project is successful, the owner is the only one that benefits, and everything goes back to them. The people who funded the project in the first place, get nothing but a few items of thanks, and that's it! What I love about equity crowdfunding, is you as an investor get to own a piece of the film, and be a part of its success. If it makes money, so do you. It's a great way to make us all pull as a team to make this as successful as it possibly can be.
Why have I not seen this type of fundraising for films before?
Short answer is because this just became legal in 2016. Once the JOBS ACT Regulation CF passed, it allowed for anyone to invest in an online offering such as this. Previously you needed to be accredited (have a net worth of at least $1,000,000, or have income at least $200,000 each year) to do it. However, since that passing, this method has been used almost exclusively for startup businesses. We just think that because every film is really its own startup, it's perfect for this too. Furthermore, there has only been two films that we know of that have successfully used this method. A horror film anthology called "A Field Guide to Evil", and recently a Christmas movie on this site "I'll Be Next Door for Christmas". That means if we reach our goal, this would be the first full narrative horror feature to fund this way...ever! It would be history in the making.
If the company only exists for this one film, what incentive is there to make a return?
Investors are the lifeblood of independent films. Without you, none of it happens. That's why, besides making a great film, our number one objective is to pay back our investors. The reason is simple, although Cryptid LLC only exists for this one film, this is not the only film we plan on making. There are a multitude of stories we want to tell, and if we want to do that, alienating investors is not going to get us anywhere. We are hoping to establish a relationship for years to come.
If the film is completed, what are the odds of me seeing a profit?
We wish we could lay out a hard number that you could bank on, but with a lot of investments, there are too many factors in order for us to speculate. We can say that given the trends of horror films in the market in general, and the modestness of the budget, we are in a good situation. We did have the project financially analyzed by the website Slated* , and they came back with an 87% chance the film would be financially successful.
*Slated is a website that connects people and projects together. Think Linkedin, but strictly for film. Must be a member to view financial scores.
Where is this film to be shot?
Currently, we are looking at upstate New York, or Western Massachusetts. Since we are located in New York City, this gives us the ability to use our connections and to hire locally, while still getting the best talent. We are also planning on using state funded film tax credits from whichever state gives us the best deal.
What's the ratio of profit to how much I invest?
There are several factors at play here; trends in markets, release dates, cast obtained, etc..., but we hired industry producer Rob Margolies to create a business plan for us, and he was able to give us a series of projections given the type of movie we are making and the current climate. He gave us a low case scenario and a high case scenario of the returns we could see. The low case estimates a roughly 83% return on investment. So if that were to happen, and you were to invest $1,000, you would see a $1,830 return. The high case estimates 381%. Back to that same $1,000 investment, they are saying it could bring in as high as a $3,810. Furthermore, if a Minimum Guarantee is obtained, it would be a much higher profile film, and could see a higher profit than that.
What will the movie be rated?
It would be "R"
What happens if you don't raise the full money for the movie's budget?
Typically in raising money for an independent film, you rarely get all the money from one place. It tends to come from a variety of different sources to get the full amount. This is why we are seeking the starting funds here, the most difficult to obtain. Depending on how much we are able to raise here, we have a plan on how to move forward:
- $10k - 50k+ - Use part of the money to raise awareness of the equity fundraising campaign in order to let more investors learn of the opportunity while the campaign is still running. Use as a proof of concept to attract additional team members to expand our current network.
- $107k - With almost a third of the budget attained we can begin to use our connections to obtain matching funds to get us closer to the $374k. From there we can hire a sales agent and work on obtaining a cast that will give us solid exposure both nationally and internationally. This will allow us to get some pre-sales from several territories, which can be used as collateral for debt financing to obtain the rest.
- $374k - Without having to go out and make additional deals, this gives us the fastest way to begin the production on this film. With all the money in place we can hire the entire cast and crew, secure locations and permits, and start filming earlier than expected, which means a faster return.
How long will the film take to shoot?
We estimate approximately 28 days of shooting, and 3-5 months of post-production.
How long until I see my first return?
Unfortunately, there is no way to be 100% sure, but with the timeline we have laid out, we expect to begin selling the rights by November of 2018, the first film market available after the movie is in its final stages. If a Minimum Guarantee is obtained then it could be as soon as Q1 of 2019 (one year after filming starts) , otherwise the first return would most likely be in Q3 of 2019.
Have more questions, send us a message!
Offering Summary
Maximum 1,070 of Non-Managing Membership Units ($107,000)
Minimum 100 of Non-Managing Membership Units ($10,000)
| Company | Cryptid LLC |
| | |
| Corporate Address | 130 Bay Ridge Parkway APT 2D, Brooklyn, NY 11209 |
| | |
| Description of Business | Manage, produce, and market a feature motion picture |
| | |
| Type of Security Offered | Non-Managing Membership Units |
| | |
| Purchase Price of Security Offered | $100 |
| | |
| Minimum Investment Amount (per investor) | $100 |
Recoupment: Investors will retain 100% of the Company’s ("Cryptid LLC") adjusted gross profits* up to the repayment amount of 100% of their investment, plus an additional 20% bonus, then a prorated share of 50% of remaining (net) profits.
*gross profits allocated subject to terms of Cryptid LLC Operating Agreement
Perks**
- $100+ Exclusive behind-the-scenes peek via email updates during production.
- $500+ Receive a "Special Thanks" credit in the film, as well as on IMDB.
- $750+ Take part in an exclusive live Q&A with the writer/director.
- $1,000+ A personalized Cryptid postcard to you, signed by the cast, director, and producer. Includes all previous perks.
- $2,000+ Receive one of the props actually used in the film. Could be a fake bloody arm, a fake gun, fake newspaper, etc... We'll give you some options.... See the movie with the cast and crew! One ticket to the premiere in New York City. (Time and date TBD). You’ll have to provide your own travel and accommodations. Includes all previous perks.
- $5,000+ Receive a piece of the creature suit. Could be a clawed hand or foot, leg, or head from the actual suit created for and used in the film. (Limited availability).Signed by the creator, if desired. Includes all previous perks.
- $10,000+ "Associate Producer" credit on screen and on IMDB. See the movie with the cast and crew! Two tickets to the premiere in New York City. (Time and date TBD.) You’ll have to provide your own travel and accommodations. Includes all previous perks.
- $25,000+ "Co-Executive Producer" credit on screen and on IMDB. Visit the set while we're filming! You and a guest get to meet the cast and crew and hang out. (Filming date/location TBD.) Four tickets to the premiere in New York City. (Time and date TBD.) Name a character in the movie, and it will be said in the film. It could be your name or a name of your choosing. We get to choose the character and to approve the final name though. Includes all previous perks.
**All perks occur after the offering is completed
Multiple Closings
If we reach the target offering amount prior to the offering deadline, we may conduct the first of multiple closings of the offering early, if we provide notice about the new offering deadline at least five business days prior (absent a material change that would require an extension of the offering and reconfirmation of the investment commitment).
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.
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Risks
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.
Updates
Food for Thought Articles
5 days agoWith the recent success of horror movies lately, a few articles have been surfacing about the genre in general. Wanted to post a couple as they are interesting reads:
Exceeded 50% of Maximum goal
about 1 month agoHello all!
It gives me great pleasure to say we have officially crossed the 50% threshold of our maximum goal for Cryptid! (52%, but who's counting)
The last few weeks have been a whirlwind of activity as we have really made some great progress in getting to our objective. I wanted to take this moment to thank everyone who has contributed to this campaign, either monetarily or through promoting and sharing. We are currently on a great trajectory and if we can keep this up will hit our goal with gusto!
From a pre-production standpoint, plans are being put together on building the creature suit, locations are starting to be narrowed down, and soon we can start casting.
In the meantime, I thought I would list some stats of the campaign so far:
- Total Number of Investors: 116
- Total Numbers of investments: 132
- Average Investment: $420
- No. of States with investors: 34
- State with the Most Investors: CA
- No. of Countries with Investors: 3
- No. of Territories: 1
- No. of Followers of the Campaign: 244
Thank you all again for being a part of this film. We are on the back nine, let's keep it going!
-Brad
Notice of Funds Disbursement
about 1 month ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Cryptid has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Cryptid be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Campaign Extended
about 2 months agoHello Everyone!
We have made such great strides this last extension, and because of this, we've decided to extend again. As with our last one, our philosophy is still that we want to make sure that we are raising enough money to accomplish all of the things needed to make this film a success. This means not stopping until we can get as close to our ultimate goal as possible, while it continues to make financial sense to do so. This does cause some issues with timelines, and I apologize for that, but we feel the fact that we have more investors, followers, articles, interviews, and people talking about this campaign than ever before, and those continue to trend upward, this is the right decision to catapult us forward in the coming weeks.
Thank you all again for supporting this film and getting us to where we are now, and I hope you will continue to spread the word and champion this campaign. As usual, feel free to ask any questions you may have, or just leave a comment, in the comments section.
Brad
Amending our Securities Offering
about 2 months agoHello! Recently, a change was made to the Cryptid offering. Here's an excerpt describing the specifics of that change:
Cryptid LLC has extended their campaign and updated their financials.
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.
Horror films are still champion.
2 months agoHi Everyone!
I wanted to talk a little about the status of horror films in the market today. Mainly, I want to focus on two films in particular.
"A Quiet Place"
Synopsis: A family struggles to survive in a world where creatures hunt by sound.
"A Quiet Place" opened on April 6th and has just recently passed the $100 Million mark ($108,035,282). That is strictly domestic with another $56,805,549 from the Foreign box office, bringing its current worldwide total to $164,840,831. That's against a budget of $17 Million, not including print and advertising. That produces an ROI of 864.706%
(Source:http://www.boxofficemojo.com/movies/?page=main&id=aquietplace.htm)
"Blumhouse's Truth or Dare"
Synopsis: A group of friends find out that the old childhood game has deadly consequences.
"Truth or Dare" opened this past weekend and had an opening weekend of $19 Million, and currently sits at $21,720,150 Domestic. ($2,600,000 Foreign). Its worldwide total is at $24,320,150 and budget was $3.4 Million. ROI=605.882%
(Source: http://www.boxofficemojo.com/movies/?page=main&id=truthordare2017.htm)
To put that into context, here are the three top-grossing movies of this year:
1. Black Panther: ROI=558%
2. Ready Player One: ROI=177%
3. Peter Rabbit: ROI=498%
(Source:http://www.boxofficemojo.com/yearly/chart/?yr=2018&p=.htm)
Now, if I wanted to really nail this one home, here is another horror movie released this year:
Insidious: The Last Key: ROI = 1,560% (That is a higher ROI then the top three movies combined!)
The point here is very few movie genres can compete with horror films split of lower budgets versus high revenue. In fact, you would be hard pressed to come with a movie with those low budgets that had a wide release at all.
Ok, I understand I'm not exactly comparing apples to apples as it comes to Cryptid, we are not shooting for a theatrical release, although it's an outside chance if the right distribution company picks it up. This is more to add further evidence as to how horror movies are subverting the standard business practices of Hollywood films, and the openness of the general public to embrace low budget horror.
So even though it's not technically "apples to apples", it's still food for thought.
Notice of Funds Disbursement
2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Cryptid has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Cryptid be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
StartEngine Exclusive! Last Weeks Q & A Session Recording
2 months agoHey Folks!
If you weren't able to attend any of the Q & A sessions last week, but was wondering what it was all about, I have good news.
Now exclusively through StartEngine, the video below is the YouTube Q & A session!
The first 20 minutes or so I talked about the project, then it was on to answering questions. Enjoy!
Facebook Live Q & A: The Sequel!
2 months ago
First one was fun, why not a sequel!
I had such a good time interacting with everyone and answering questions on Saturday and since there were a number of people who were disappointed they couldn't make the weekend afternoon session, we thought "Let's do another one!"
Just like last time, we'll talk about all things Cryptid, with me, writer/director Brad Rego. The biggest difference here is we are going to do it through Facebook Live and, since a lot of people asked for a weeknight, it will be Wednesday, April 11th at 8pm(EST).
I'll be talking about the production and anything else you want to discuss. We want to connect with all our great investors, followers, and some new friends to the page and make this a completely interactive driven experience. So if you missed the last one, click over to the page and let's chat.
During the event, ask any questions or comments through the Facebook Live Chat window and I'll answer in real time live on air. It could be about the production, why we decided to use this method of fundraising, where we currently stand, or even what movies we have been watching. Totally up to you. Let's talk some Cryptid!
Hope to see you there!
What: Cryptid Facebook Live Q&A
When: Wednesday April 11th, 2018 @ 8pm (EST)
Where: Facebook Live Broadcast
Note: If you aren't able to attend, but want a question answered during the broadcast, you can ask it on our Facebook Event Page and we'll answer it on air.
Notice of Funds Disbursement
3 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Cryptid has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Cryptid be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
YouTube Live Q & A Session Saturday April 7th at 2pm (EST)
3 months ago
Hi Everybody!
On Saturday, April 7th at 2 pm (EST) we'll be hosting a YouTube Live Q & A Session about all things Cryptid with me, writer/director Brad Rego. I'll be talking about the production and anything else you want to discuss. That's right, the majority of the event will be based on your questions. We want to connect with all our great investors, followers, and some new friends to the page and make this a completely interactive driven experience. So we are devoting most of the time to anyone who would like to ask me a question!
During the event, post any questions through the YouTube Chat window and I'll answer in real time live on air. It could be about the production, why we decided to use this method of fundraising, where we currently stand, or even what movies we have been watching. Totally up to you. So come on over and let's talk some Cryptid!
Hope to see you there!
What: Cryptid YouTube Live Q&A Event
When: Saturday April 7th, 2018 @ 2pm (EST)
Where: YouTube Live Broadcast
Note: If you aren't able to attend, but want a question answered during the broadcast, you can ask it on our Facebook Event Page and we'll answer it on air.
Notice of Funds Disbursement
3 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Cryptid has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Cryptid be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Milestones and Goals
3 months agoHi Cryptid Fans!
When talking to people lately, I have been getting a lot of questions about what our internal goals are inside this raise, and how much is needed for certain things. So I thought I should put a post out about milestones and get a little more granular on how everything fits together. It's not that these steps will cost this much necessarily, but rather, the amount we have will determine the timeline, and which steps to proceed with.
- 25k - Beyond the minimum goal of the campaign, the next milestone that we are looking at is $25k. This one is a little more of a hard cost where we start hiring the development team that's going to work on bringing the film through pre-production up to production. This team includes a Sales Agent, Distribution Rep, Casting director, Executive Producer, and Line Producer. This is the foundation to manage all other aspects going forward. With this team, we can do the internal work of breaking down the script into malleable chunks while building a plan for logistics. This also expands our network and offers credibility to the production.
- ~50K - Reaching this milestone gives us a larger operating footprint, and so now we can start putting together rough schedules, narrowing down locations, assembling lists of talent, and start inquiring about availability. We don't have enough to lock anything in yet, but it gives us a good estimation. If we did this in the first step it would be too early, and by the time we reach the next step, the availability may have changed.
- ~75K- We can begin to make offers, and lock in the talent. We can also solidify a location and begin filing the paperwork for tax incentives. We can also start creating some of the props that need advanced setup time (Creature Suit!). With our talent locked in, our Sales Agents can then start to solicit pre-sales from international markets. These pre-sales help fill in beyond this raise to get us closer to the film's budget.
- ~107K - With almost a third of the budget, a cast, crew, pre-sales, and tax incentives in hand, it gives us the full leverage to obtain matching funds from other investors, or debt financings to obtain the remaining budget. This puts us in the best position.
So although our ultimate goal is to hit the $107K, we don't need to wait around for that to happen in order to begin the work needed. This way we can be working and updating on the status of these steps as the offering is happening. This also gives us the ability to not lose valuable time while raising the funds we need.
I hope this helps to explain some of the next steps in this process.
Thank you all for your continued support, we now have a lot of followers of the campaign, and it's been such a joy talking to so many excited people about this film and its investment offering. As a side note, if every follower that has not invested yet, invested just the minimum amount, we would easily be at our next milestone. Food for thought.
-Brad
Notice of Funds Disbursement
3 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Cryptid has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Cryptid be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Offering Extended
4 months agoAs mentioned in a previous automated update, we have extended the offering another 60 days. We did this because although we hit the milestone of our minimum goal, and it offers a great proof of concept, we need to get closer to our maximum goal in order to begin hiring our development/sales team and further progress in our pre-production.
The largest effect this has on the film is, as expected, it will push back the timeline listed in the campaign. Our initial goal was to begin filming in May, however, if we are unable to accomplish our goal until the end of this new extension that doesn't give enough time to lock everything in by that date. The good news is, even by pushing everything back 60 days, we still should be able to hit AFM in November, our first open market opportunity if we don't already have a minimum guarantee in place.
That said, our next steps are to refocus our advertising campaign and double-down on what worked, as well as reach out to some new avenues to get the word out. I have spoken to so many people over the last few months who have never heard of the type of thing we are doing here but feel it makes so much sense that it could be a huge step in independent filmmaking. Based on responses like that, I know we are headed in the right direction, we just need to make more people aware of it. Blazing a trail is never easy, but nothing worthwhile ever is.
Thanks again to all our supporters, whether you invested, followed, or shared the offering. Let's keep moving forward and grab that brass ring!
-Brad
Amending our Securities Offering
4 months agoHello! Recently, a change was made to the Cryptid offering. Here's an excerpt describing the specifics of that change:
Cryptid LLC is extending their campaign for 60 days.
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.
StartEngine Exclusive Video
4 months agoOne of the things that always fascinates me is how films change through the many stages of its development. About a year or so before we shot the first scene of Cryptid, we put together a storyboard animatic of sorts for pre-production. I decided to sync up the two and show how the scene changed from storyboard to actual, and added a touch of commentary on it for the heck of it. Check it out:
100% Minimum Goal Reached!
4 months agoWell, that was fast. We barely got the 88% notice out and now we've hit 103%. Great job!
What does this mean now?
HItting $10,000 was a big milestone for the campaign, but it was only the first step to getting the film production underway.
Now what?
We need to keep sharing what we are doing here, with as many people as possible, to get all the way to our final goal. The more people who come on board, the sooner we can start filming. It's just that simple.
With 29 investors behinds us so far, they've now locked in their investments and made a statement that they believe in this project. Now let's get another 29, and then 29 more after that, and keep going until we reach our target.
That last sentence felt a little Braveheart-y, but I don't care, I'm excited!
-Brad
88% Achieved!
4 months agoWe are currently sitting at 88% of our minimum goal for the offering.
Sure, everyone likes round numbers, but since this campaign is unorthodox, then so can't its updates.
As a heads up, we have been reaching out to all sorts of media outlets in hopes of getting as much exposure to the campaign as possible, and lately, it's started to pay off with some recent boosts to the project, which has been great! Here is one of our Press Releases that has been making the rounds.
However, although reaching the minimum goal will be a solid milestone, we still have a ways to go to make this movie a reality, so we are going to continue to push and leave no stone unturned to get this done.
Thank you to everyone who has invested, followed, and shared the campaign within your network, it really has made a huge difference.
Make sure to continue to share with your friends and family so they can join us on this journey.
-Brad
Scary Mysteries Interview
5 months agoRecently I was invited to be an interview guest on the popular YouTube Channel "Scary Mysteries". Below is a 14-minute segment where we discuss Cryptid. You can see the full 90-minute interview here where we discuss horror movies, ghosts, and being from Massachusetts.
50% of our first goal reached!
5 months agoWe are officially past 50% of our minimum funding goal! Thank you to everyone who invested, followed, and shared the campaign. We have had investors from all over the country so far, coming from 9 different states and 18 different cities (Seattle is leading, for those who are competitive). We also have had several repeat investors who doubled down and have added to their initial investments.
We are on the right track, but still have a ways to go, let's keep it up by continuing to get the word out and sharing the campaign with others.
We have been reaching out to all sorts of media outlets and so look for more updates, stories, and info to come out in the next week or so. We'll post it here when it does.
Thank you all for your continued support.
Happy New Year!
6 months agoWe are so excited to get this new year underway and 2018 is looking great. Our resolution is to make an amazing horror film that we can all be proud of, then sell it to make it a financially successful endeavor.
Thank you to those that have invested so far, we have been very steadily marching forward thanks to you.
To all the many followers of the campaign: Come join the team. The sooner we hit our goals, the sooner we start this adventure together.
Even Creatures Get Festive
6 months ago
First week complete!
7 months agoWith the first week officially in the books, we can easily say it's been an exciting few days. We have had a great response from both followers and investors this week, and can't wait for the journey ahead. Thank you to everyone who came by to check us out and feel free to drop us a line if you have any questions, don't be shy.
Also, don't be afraid to use that Share button. Cryptid wants friends too!
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