Please be aware that Sol Boards Inc. has recently updated its campaign page to include Financial Projections through 2020. You will see that our Company projects to increase revenue from approximately $3,300,000 in 2015 and $4,750,000 in 2016, to $12,250,000 in 2017. We encourage you to look at this additional information when making an investment decision.
Investors should also take notice that Sol Boards Inc. now has over with over $350,000 of funds subscribed through this offering, and that our Senior Management Team intends to make an additional investment of approximately $200,000 to purchase 160,000 shares of Class B stock as part of this offering. Additionally, we recently received several inquiries and questions (see responses below) from accredited investors looking to subscribe to this offering before it closes Friday, March 31st.
The company is proud to report that in addition to exceeding its 2016 revenue target, it is well on the way to having record first quarter sales, projecting GolfBoard sales volume of over double the prior year. Additionally, in Q1 we have started fulfilling our first ResortBoard orders, with strong positive consumer reaction (http://www.golfboard.com/resortboard/).
We are increasingly confident that our “non-golf” board offerings will provide a highly profitable growth engine for the company. The funds raised from this current offering will greatly help support the global expansion of our new product offerings.
Once again, please take time to review the newly posted Financial Projections, as well the responses to recent investor inquires provided below.
John Wildman, CEO
Do you expect to reach the $1,000,000 offering by March 31, 2017? If you do not will you extend the time frame? When did this offering begin?
The $1M 506-c round was launched on the StartEngine portal as of Friday, February 24th 2017 – this offering is currently schedule to end March 31st , but can be extend at our sole discretion. We recently updated our offering exhibits to include Financial Projections though 2020, so we may extend the offering a few days in order to allow current and new investors more time to review this additional information.
If you end up not meeting the $1m mark what is the company’s outlook on viability having raised the $272k so far?
The purpose of this 506-c offering round was to enable accredited investors who had oversubscribed to our successful $1M Title III capital raise to invest in GolfBoard at the same terms ($1.25/share). The company’s financial viability is not dependent on fully subscribing this follow-on 506-c raise (please reference our disclosures and financial documents)
What is your retention rate of clubs that use GolfBoard on a trial basis? Do they often purchase/lease more if they do keep them? Are any planning to get more?
Generally, 40% of course that test GolfBoards under our 2 month trial program will opt to keep their boards or order a GolfBoard fleet for the following season. We anticipate many of the remainder will going forward choose to take advantage of our newly offered seasonal rental program (which was not available until this January).
Many courses start with a 4 board offering and then grow their offering to 8 or 12 boards (or more). We now have over 16 locations that have grown their fleets to 12+ boards (some over 30), with many more course offering the typical 8 GolfBoard package.
With our “Showcase Course” program, those courses with 12 or more boards receive preferential placement at http://www.golfboard.com/coursenetwork/. This incentive does result in “follow-on orders” from course who want to better leverage 2,000 to 3,000 daily visitors to our website looking for “where To Ride”.