Open Box Buy offering is now closed and is no longer accepting investments.

Discount Retail Store

INVEST IN OPEN BOX BUY TODAY!

Open Box Buy is the first ever deep-discount retail store that specializes in big-name brand and open-box consumer electronics, appliances, furnishings, and other hard goods, fitting into the growing marketplace for secondary goods with its specialized mix of products.
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This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

REASONS TO INVEST

Reasons Icon

The discount retail secondary market is exploding, as evidenced by the fact that TJX Companies ($27.40 Billion US Sales) and Dollar General ($23.47 Billion US Sales) rank among the top-20 largest U.S. retailers in sales volume according to Business Insider.

Reasons Icon

OBB’s CEO has over 20 years of business experience, successfully leading two businesses from start-up to an eventual sale, one of which was a public exit.

Reasons Icon

Every aspect of the business, from reselling products to using refurbished office hardware, is some form of recycling or repurposing.

ABOUT

HEADQUARTERS
2896 Carmelo Drive
Henderson, NV 89052
VALUATION
$500k

Open Box Buy is the first ever deep-discount retail store that specializes in big-name brand and open-box consumer electronics, appliances, furnishings, and other hard goods, fitting into the growing marketplace for secondary goods with its specialized mix of products.

TEAM

Rich Marino
Rich Marino
CEO, Founder and Director

Rich Marino is Open Box Buy’s founder and CEO. Rich has over 20 years of business experience and has successfully led two businesses from start-up to an eventual sale of the companies with one being in the form of a public exit. He started OBB in 2008 from his garage selling open box and refurbished items on eBay and Amazon with great success. Becoming a PowerSeller in no time, he expanded to a 5,000 square foot warehouse in 2010, and eventually to his first 35,000 square foot retail location in 2012. He is now offering an opportunity for a few investors to help fund the opening of his new Las Vegas store.

TERMS

Open Box Buy
Overview
INTEREST RATE
10.0%
MATURITY DATE
Dec 31, 2020
VALUATION CAP
$15M
AMOUNT RAISED
$184,865.00
Breakdown
MIN INVESTMENT
$250.00
DISCOUNT RATE
20.0%
CONVERSION TRIGGER
$3,000.00
OFFERING TYPE
Convertible Notes
TYPE OF EQUITY
Non-Voting Common Stock


Company

:

Open Box Buy Corporation

Corporate Address

:

2896 Carmelo Drive, Henderson, NV 89052

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$250.00











Terms


Offering Type

:

Convertible Promissory Notes

Type of Equity Converted Into

:

Common Stock

Conversion Trigger

:

$3,000,000.00

Maturity Date

:

December 31, 2020

Valuation Cap

:

$15,000,000.00

Discount Rate

:

20.0%

Annual Interest Rate

:

10.0%
















What is a Convertible Note?

A convertible note offers you the right to receive Common Stock in Open Box Buy Corporation. The amount of Common Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $3,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $15,000,000.00  Valuation Cap or if less, then you will receive a 20.0% discount on the price the new investors are paying.  You also receive 10.0% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Common Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).



Perks

Invest from Day 2-7 and get a 20% Bonus of shares on conversion 

Invest from Day 8-14 and get a 15% Bonus of shares on conversion

Invest from Day 15-21 and get a 10% Bonus of shares on conversion

Invest from Day 22-28 and get a 5% Bonus of shares on conversion

*Annual Interest Rate subject to adjustment of 10% bonus for StartEngine shareholders. See 10% Bonus below

The 10% Bonus for StartEngine Shareholders

Open Box Buy Corporation will offer 10% additional bonus interest for all investments that are committed, within 24 hours of this offering going live, by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 in the StartEngine Reg A offering which closed earlier this year.

StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering if they invest within a 24-hour window of their campaign launch date. For example, if invest in the first 24 hours, your annual interest rate will be 11% instead of 10%.   

This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

ALL UPDATES

11.09.20

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Open Box Buy 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 Open Box Buy 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

10.26.20

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Open Box Buy offering. Here's an excerpt describing the specifics of the change:


Issuer extended its campaign 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.

10.12.20

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Open Box Buy 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 Open Box Buy 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

09.23.20

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Open Box Buy 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 Open Box Buy 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

09.02.20

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Open Box Buy 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 Open Box Buy 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

08.20.20

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Open Box Buy offering. Here's an excerpt describing the specifics of the change:


Open Box Buy provided reviewed financials, increased their max raise amount, and extended their campaign.


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.

07.27.20

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Open Box Buy offering. Here's an excerpt describing the specifics of the change:


Extended length of campaign.


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.

05.28.20

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Open Box Buy offering. Here's an excerpt describing the specifics of the change:


Extended length of the campaign an additional 30 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.

05.27.20

Notice of Material Change in Offering

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Open Box Buy offering. Here's an excerpt describing the specifics of the change:


Extended length of campaign.


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.

05.01.20

Open Box Buy Update and Covid-19 Status

Good Afternoon Everyone,

I know that I have been overdue for a campaign and company update and would like to take a moment to address where we are as a company.  

As I had updated everyone back at the end of 2019, we decided to turn our attention towards a wholesale business model in order to generate revenues immediately while going through the major expense of opening the new retail location.  Just as we are beginning the launch of our new wholesale distribution, the Covid-19 epidemic struck.  As one might imagine, our wholesale customers are all retailers who have been either shut down completely or their business has been dramatically reduced by the current situation.  Most, if not all, of our customers have temporarily suspended any buying, placing us in a similar holding pattern to most of the country and the rest of the world for that matter.  

At the launch and beginning of our campaign, we were entirely focused on the opening of a new retail location in the Henderson suburb of Las Vegas, Nevada.  While this still is the big picture plan for the growth and expansion of the company, the last year and especially our current circumstances that the entire world is facing through the Covid-19 worldwide epidemic has given us a new perspective on our best next steps.  Retail has been hit hard and will definitively see some changes going forward.  The truth is that no-one really knows what life is going to be like when we get back to "normal", so there is no real way for us to accurately predict how the marketplace will adapt as it is far too early to know for sure.

The good news, now that we are in the midst of the Covid-19 crisis and retail businesses such as Open Box Buy have been deemed non-essential, is that we have avoided having a brand new retail store being completely shut down.  Had we kept pressing forward to urgently open a new space as we had originally planned, I can say without almost certainty that we would not have survived such a huge blow to the company so very early on in our growth.  Just one of our retail stores employs about 40 to 50 people full and part time, and has a significant amount of overhead expenses for the lease, utilities, insurance, and other operational costs.  We now see this as a huge blessing by we not having these substantial financial burdens.  It is specifically for this reason that we are now in a much better position during such an extraordinary time.

As we aren’t currently locked into any specific market or retail obligation, we are completely free to move the company forward in the best way possible given the current market conditions.  We are now in the position to follow market demand wherever we see the most opportunity, whether we choose to distribute wholesale; to sell retail online through major marketplaces such as Amazon and eBay; or maybe it ends up being even more advantageous timing for the opening of the new discount retail store as we emerge from the Covid-19 crisis.

In our opinion, the most encouraging aspect of the country’s current financial condition is that our business model actually grows and thrives as a direct result of an economic down turn.  As we emerge from this pandemic, we anticipate that the consumer's need to save money in any way possible will be at an all-time high just as it was for discount retail during the Great Recession of 2007 to 2009.  According to the publicly available financials from companies such as TJ Maxx, Burlington, dollar stores, and other deep discounters, steady growth can be seen all the way through the country’s most recent economic hardship.

So while it might look great to only post the most cheery and exciting updates, this time I felt it much more important to  also share some of the obstacles we face along the way and more importantly how we are overcoming them in order to produce the best possible results.  I believe it to be disingenuous if I were not to share the downs as well as the ups along the way.  At our core, we believe success is not a byproduct of a straight pathway without any obstacles and challenges, as much as it is how well we pivot and adapt in order to always keep moving forward.

I hope everyone is staying healthy, safe, and doing well.

Best regards,

Rich Marino
Open Box Buy










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HOW INVESTING WORKS

Cancel anytime before 48 hours before a rolling close or the offering end date.

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