INVEST IN HEXANIKA TODAY!
Succeed With Data
$54,323.01 Raised
REASONS TO INVEST
Appealing product: Within the $180 billion regulatory compliance industry, HEXANIKA has demonstrated that it is able to not only reduce the cost of compliance by 50 percent, but also output better quality and transparency of data
Access to Roughly 80% of the Market: HEXANIKA has already formed strategic partnerships with various institutions, providing them access to customers as well as valuable insight for enabling easy adoption of their platform within existing infrastructures.
Industry Validation: HEXANIKA has received multiple awards for innovation in Regtech, including a 2018 Tokyo Financial Times Nikkei Award, a 2019 MEDICI Top 20 Award, a 2020 Citi Scalability Award and more
ABOUT
HEADQUARTERS
419 Main St Suite 200 North
Little Rock, AR 72114
WEBSITE
View Site
With its integrated AI-driven data platform and compliance marketplace, HEXANIKA provides a simplified, cost-effective and labor-efficient solution to address the $181 billion industry cost associated with regulatory compliance for banks, financial institutions, insurance companies and more. This end-to-end approach provides better data quality and increased auditability to regulators. Ultimately, HEXANIKA helps to eliminate the billions in losses and fines paid by institutions that can’t keep up with compliance with their hodgepodge of manual labor and patchworked tech solutions.
TEAM
YOGESH PANDIT
CEO
Experience: 23+ years of experience in banking, financial services, & technology domains.
Senior Vice President at Citibank, & Advisor at Ernst & Young (EY) in the Financial Services Strategy & Risk Advisory practices.
Yogesh is a CPA, and CISA, Data Science Certified from MIT and MBA.
Makarand Gadre
CTO
30+ Years at Microsoft in building EXCEL & SHAREPOINT. Have also worked & successfully scaled the technology of several startups.
Arun Iyer
CPO
* Arun is also a children's mystery/adventure novel author.
TERMS
Hexanika
Overview
PRICE PER SHARE
$14
DEADLINE
Feb 10, 2022
VALUATION
$14M
FUNDING GOAL
$10k - $1.07M
Breakdown
MIN INVESTMENT
$112
MAX INVESTMENT
$99,988
MIN NUMBER OF SHARES OFFERED
714
MAX NUMBER OF SHARES OFFERED
76,428
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
Time-Based:
Friends and Family Early Birds
Invest within the first 48 hours and receive additional 20% bonus shares
Super Early Bird Bonus
Invest within the first week and receive additional 15% bonus shares
Early Bird Bonus
Invest within the first two weeks and receive an additional 10% bonus shares
Amount-Based:
$500+
Tier 1
Invest $500 and receive 2% bonus shares
$1,000+
Tier 2
Invest $1,000 and receive 5% bonus shares
$2,500+
Tier 3
Invest $2,500 and receive 7% bonus shares
$5,000+
Tier 4
Invest $5,000 and receive 10% bonus shares
$10,000+
Tier 5
Invest $10,000 and receive 15% bonus shares
The 10% StartEngine Owners' Bonus
Hexanika 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 $14 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $1,400. 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 canceled or fail. Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
Example - 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.
PRESS
ALL UPDATES
11.16.21
Notice of Funds Disbursement
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Hexanika 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 Hexanika 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
11.04.21
Valuation Update.
Dear Investors:
HEXANIKA would like to publicly address the StartEngine platform in regard to concerns related to the market valuation of the company and the dilution of shares upon the next financing round. Our $14M valuation is based on a prior funding round as well as calculation through the use of a 10x revenue multiple. While there are 1,000,000 shares currently outstanding, 642,579 additional shares will be issued and are due to convertible notes and employee sweat equity that will be converted to common shares. This conversion will only be triggered when we successfully complete a $2.5M financing round in the future. Please note that the pre-money market valuation does not take into account any outstanding convertible securities, this has been included in company securities as well as the valuation section. The Company currently has $830,071 in convertible notes outstanding.
Please feel free to reach out with any further questions regarding dilution, valuation, etc.
08.19.21
New Client
HEXANIKA signs a contract and partnership with one of the largest Fintech lenders for helping them to attain their strategic data journey via innovation. We look forward to building and taking this partnership to the next level.” - Hexanika CEO Yogesh Pandit
More on this in a later update!"
REWARDS
JOIN THE DISCUSSION
0/2500
Rikesh Govan
11 INVESTMENTS
2 years ago
Are there any updates? Any progress? I see that you have initiated a funds disbursement.
1
0
Anne Oshman
9 INVESTMENTS
2 years ago
Finally, since you keep saying, "Every information we have her is verified and accurate. HEXANIKA has gone through Start Engine's compliance and CPA Review." Why don't I simply submit this as an inquiry to the SEC. It's simple enough to do, as the form can be found here: https://www.sec.gov/oiea/Complaint.html
0
2
Anne Oshman
9 INVESTMENTS
2 years ago
In addition to what I just stated below, in response to Rikesh and ndrius, who voiced the same concerns as myself, Yogesh stated "We understand your concerns. We will get back to you in a couple of days." It's 17 days later and no response. This is another problem, you do not respond to people in a timely manner, if at all.
0
1
Anne Oshman
9 INVESTMENTS
2 years ago
Yogesh asked me "Please explain what is wrong and what have we concealed."
What is wrong with what you are doing? You are making a material omission in your pitch and a material misrepresentation on the Search Engine homepage regarding the valuation when the moment this round closes all investors are being diluted by more than 50%. The other thing tha is wroing is that it reflects on your candor and your willingness to hide from investors. Anyomne looking at this as a potential investment would want to know the valuation on a fully diluted basis. Why don't you mention it here? Why isn't it in your pitch? Why don't you tell everyone that the moment after the round closes everyone will face a massive dilution? The reason is quite simple, you think it is to your personal benefit not to openly tell everyone the truth. I would never invest in this deal or in a CEO who hides such important facts from their investor.
0
3
Rikesh Govan
11 INVESTMENTS
2 years ago
Yogesh, this issue is that it is not normal to have such a large dilution of equity in this manner. The manner being that your stated 14M valuation immediately becomes 22M the second this offering closes. That is material. The worst case is that it MAY pull in an SEC inquiry since that dilution is mentioned nowhere except buried in the SEC filing. I have no problem investing, but issues involving compliance can kill a company. Whether I invest or not, I’d love for you guys to succeed. But you can’t have that level of dilution and not mention it anywhere on the offering page.
2
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Andrius Steponavicius
2 INVESTMENTS
2 years ago
How come the extra 640,000 shares was not mentioned in offering summary? Lets say I let you invest in my LLC at 1M valuation for 500k. Then soon as I got your 500k I doubled number of shares raising valuation to $2m. How would you feel as an investor realizing your 50% stake in company is only worth 25%? You wouldn't feel like you were mislead? How come this is coming up via posters here figuring this out from SEC filings instead of numbers provided in offering? For investors there is no worse thing than dilution, its hard to believe you guys left this out with good intentions. Way destroy investor trust from very beginning.
2
1
Andrius Steponavicius
2 INVESTMENTS
2 years ago
"we have 1,000,000 shares outstanding at $14/share, hence the $14M pre-money valuation. The remaining 640,000 shares will be granted after the qualified funding of $2.5M (Series-A round)" Reality is there are 1,640,000 shares? How is this investing at $14M valuation when as soon funding is done current shareholders will bet diluted to $23 million valuation? Highly misleading and appears was done with intent to hide these details. Such drastic difference in shares is akin to losing almost half the investment. Change my mind from canceling my investment here.
1
1
Anne Oshman
9 INVESTMENTS
2 years ago
To Rikesh, Vilem, Kartikeya and everyone else here, The $10,000 drop in funds raised is me exitting this investment. There are many things wrong here that don't need to be rehasehed and are discussed below. The thematic problem here brings my mind back to the boiler room days of the 1980s and 1990s. Companies and platforms that hide and conceal material information are planting the seed for regulators to come back and shut down crowdfunding. Crowdfunding is an awesome way for investors to get in early on potentially exciting and profitable investment opportunites that would not otherwise be available to them. But, it presumes the accurate delivery of information and transparency. What I now see here and in other places in the crowdfunding universe is both extreme valuations and a lack of transparency. Critical information on comapanies, even things like revenue, are frequesntly hidden and need to be searched for. Pitches are being presented that sound like fact and not what they are, hope and projections. And then you have situations like here, where misrepresentations are made not as to a potential amorphis technology, but something as simple as valuation. Companies like this and platforms which allow it are planting the seed for regulators coming in and shutting down crowdfunding. Also, investors need to start paying attention to the growing fees and charges being taken by platforms such as SE, not just in fees associated with paying for your investment, but anywhere from 7.5% to 15% of your investment as front end/back end fees for "creating" the inverstment opportunity. This is all starting to get a bit out of hand to the detriment of gues who? You, the consumer.
What is most humerous about all this is that HEXANIKA is in compliance. How do you think the SEC would react to the manner in which they computed their valuation?
3
4
Theodore OSHMAN
17 INVESTMENTS
2 years ago
To say the statement that the valuation is based on $14M, when it is really 22M, is misleading, is being kind. It is a know misrepresentation by both the Company and by Start Engine, the latter of which shares in the raise and was well aware of the hidden dilution. Perhaps this is the reason it took nearly three weeks to answer the question which forced disclosure of this information. I will be exiting this incestment.
2
1
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Aurus Sanchez
1 INVESTMENTS
a year ago
0
4