Parallel Flight Technologies offering is now closed and is no longer accepting investments.
INVEST IN PARALLEL FLIGHT TECHNOLOGIES TODAY!
Saving lives, property, and the environment
$6,308,871.29 Raised
Offering Circular | Selected Risks Related to this Offering | Parallel Flight Technologies' SEC EDGAR Page | Signed to Trade disclosure
For more information on Parallel Flight Technologies, download and review the Offering Circular. The Offering Circular should be reviewed before making an investment decision.
Reasons to Invest
- Large Market Potential: Operating between 3 large industries. $65B Industrial Logistics + $20B Healthcare + $10B Wildfire Suppression markets
- Strong Team: CEO is a former Tesla Semi-Truck electrical engineering leader. Founding team has deep robotics experience from Verb Surgical, drone swarm work with the Navy, and machine vision expertise
- Innovative Technology: NASA, NSF and USDA funded, 10X longer flight time with a heavy payload vs. existing technology for unmanned aircraft
“Heavy Lift +10X Longer Flight Time”
Success since our last raise
Since our last offering, Parallel Flight has reached multiple milestones:
- We have increased customer traction with deployments planned in 2021.
We have designed the new hybrid power modules and airframe for the beta-level aircraft and have been testing for several months.
- We signed to trade on StartEngine Secondary. Our upcoming quotation is planning to undergo the diligence process once our Regulation A+ campaign is concluded.
Under a NASA grant, we successfully completed the development of a redundancy system that will provide a safety advantage over other technologies.
Under an NSF grant, we have developed computer models of our aircraft system to validate control algorithms.
We were awarded a grant from the USDA for the development of a large-scale platform for controlled ignition (preventative burns and firebreak burns).
We filed two additional provisional patent applications for our key algorithms and the safety mechanism developed under NASA.
*Actual Product - Not A Model
The problem
Today's drones can only carry a heavy load for 15 minutes
Electric drones can only fly for fifteen minutes when carrying a heavy payload. Existing gas-powered drones have the ability to fly longer, but can’t carry heavy payloads. Ongoing and dangerous problems, like the wildfire crisis, could seriously benefit from the use of drones, but need long flight-time and heavy-lift. The Forest Service, military, and private companies are actively looking for heavy lift solutions for wildfire and other applications, but the existing solutions are too limited in terms of flight duration and payload.
The solution
Our new Parallel Hybrid drone can fly for hours with a heavy payload
Our new Parallel Hybrid technology is a 10X improvement over existing solutions in terms of flight-time with a heavy payload. Our Parallel Hybrid system increases efficiency and eliminates a heavy generator component used in other hybrids. This means higher efficiency and more payload capability. Parallel hybridization is used in the automotive world, but has never been applied to drones, until now.
*Actual Product - Not A Model
The market
$10B, $20B, and $65B Markets
We will begin by fighting wildfires
Our initial market is wildland firefighting support. Wildfires are an urgent public safety crisis that has been exacerbated by environmental problems. Every year, thousands become victims of wildfires and there is a constant search for new technology that will help combat these fires. Our drone technology will help firefighters by bringing them supplies such as tools, fuel, food, water, etc. while they are in the field. It will also be able to perform controlled burns, which is an important tool for fighting wildfires. Our aircraft will also be able directly drop water on spot fires when manned aircraft are grounded due to heavy smoke or during the night.
 | |
| .Bringing tools, such as chainsaws, to firefighters in the field can save time so they don't have to hike back to basecamp. | Our unmanned aircraft can fly the equipment to a drop point. |
our traction
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
what we do
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
The business model
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
How we are different
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
the vision
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
our leadership
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
why invest
Header
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
(or click)
ABOUT
HEADQUARTERS
450 McQuaide Drive
La Selva Beach, CA 95076
WEBSITE
View Site
We’ve created patent-pending drone technology that will allow drones to carry heavy payloads for over two hours. This will make it ideal for use in fighting wildfires, search and rescue, and logistics missions. Our unmanned, autonomous aircraft open new possibilities for the safety of first responders and many other commercial applications.
TEAM
Joshua Resnick
CEO and President
David Adams
Director of Operations and Treasurer of the Board
Bobby Hulter
Director of Software and Controls and Secretary of the Board
Mark Bathrick
Adviser
Kasey Krape
Adviser
Mike DelPrete
Adviser
Scott Watson
Adviser
Scott Allen
Mechanical Engineer
Max Kauker
Mechanical Engineer
Luis Barragan
Electrical Engineering
Jim Penny
Manufacturing Operations
Greg Bringedahl
Lead Technician
Seth McGann
Test Engineering
Chris Lee
Test Engineering
Sara Beth Doherty
Communications and Marketing
Sara Lunsford
Business Project Manager
TERMS
Parallel Flight Technologies
Overview
PRICE PER SHARE
$4.67
DEADLINE
Jul 1, 2021
VALUATION
$28.7M
AMOUNT RAISED
$6,308,871.29
Breakdown
MIN INVESTMENT
$499.69
MAX INVESTMENT
$1,999,997.55
MIN NUMBER OF SHARES OFFERED
107
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Class B Common Stock
MAX NUMBER OF SHARES OFFERED
1,605,995
Maximum Number of Shares Offered subject to adjustment for bonus shares
Company | : | Parallel Flight Technologies, Inc. |
Corporate Address | : | 450 McQuaide Drive, La Selva Beach, CA 95076 |
Offering Minimum | : | $499.69 |
Offering Maximum | : | $7,762,576.83 |
Minimum Investment Amount(per investor) | : | $499.69 |
Terms
Offering Type | : | Equity |
Security Name | : | Class B Common Stock |
Minimum Number of Shares Offered | : | 107 |
Maximum Number of Shares Offered | : | 1,662,222 |
Price per Share | : | $4.67 |
Pre-Money Valuation | : | $28,700,000.00 |
PRESS
ALL UPDATES
11.23.21
#ParallelFlight autonomous flight dynamics testing!
#ParallelFlight autonomous flight dynamics testing with a 50lbs payload. This payload is a 5 gallon 'cubi' of drinking water, used by wildland firefighters.
#UAS #heavylift #drones
Stay tuned and be sure to follow #PFT on Facebook, LinkedIn and Instagram for more updates!
11.09.21
Latest Buzz from the Hive!
|
|
|
USDA SBIR Phase 2 Award Progress
|
aircraft and Drone Amplified's IGNIS prescribed fire system. The team is working diligently towards the delivery of a large-scale unmanned solution using Parallel Hybrid technology to the US Forest Service and other agencies, which will result in lower costs associated with prescribed fire and increased safety for personnel.Taking a 360° Parallel Flight
This video highlights a typical day in the testing field, showcasing a 360° view from atop of a Parallel Flight drone. In this clip, the Flight Controls team tunes our electric test aircraft, for 50 pounds of payload using 200 feet of fire hose.
StartEngine Secondary - Now Live!
Investors in Parallel Flight Technologies' Reg A campaign now have the ability to trade their shares through StartEngine Secondary, one of the first markets in the US where non-accredited investors can publicly trade investments in startups that have raised capital via crowdfunding.
We will be closing our Secondary trading by the end of the year - more information on a final close date will be announced soon.
This quotation allows our Regulation A+ investors to sell or trade their shares in PFT. StartEngine Secondary provides an alternative to waiting for a liquidity event, such as an acquisition or IPO, giving investors the option to trade available shares in a company with other investors. Regulation A+ investors can offer their shares for sale on StartEngine Secondary and begin browsing, buying and trading shares online. For more information, please visit the detailed Secondary FAQ for Investors.
08.13.21
VOTE for our SXSW PanelPicker® Idea!
Community voting is now open for the 2022 South by Southwest® PanelPicker®, and we need your vote! This is an opportunity for PFT CEO Joshua Resnick and a panel of wildfire experts to present our game-changing drone technology at one of the world's most prominent tech and culture conferences.
If you'd like to see PFT on stage at SXSW 2022, then cast your vote for our idea: A Techno-Traditional Approach to the Wildfire Crisis.
Voting takes less than two minutes, and every vote counts! Simply create a SXSW account, log in, and click "Vote Up" on our proposal page.
Our proposal, "A Techno-Traditional Approach to the Wildfire Crisis," explores the ancient practice of prescribed fire and how advanced drone technology can be used to modernize this practice to help prevent catastrophic wildfires.
Help us share these insights on the SXSW stage by voting today! PanelPicker® voting is open through August 26th.
08.04.21
PFT Awarded a Phase 2 Grant from the USDA
We're excited to announce that Parallel Flight Technologies has been awarded a Phase 2 Small Business Innovation Research (SBIR) grant from the USDA. The $650,000 grant was awarded to PFT and Drone Amplified, the developer of the IGNIS prescribed fire system, to support further development of a large-scale UAS for prescribed fire.
This Phase 2 grant follows our recent completion of a Phase 1 grant that demonstrated successful integration of PFT’s heavy-lift aircraft and Drone Amplified’s IGNIS system. The goal for the Phase 2 grant work is to deliver this large-scale unmanned prescribed fire solution based on our parallel hybrid technology for use by the US Forest Service and other agencies. Our research indicates that this UAS will have eight times the payload carrying capacity of the existing solution as well as ten times the flight duration, resulting in more acres managed by prescribed fire at a lower cost and with increased safety for personnel. It will also provide more effective prescribed fire during active wildfires.
We're excited to continue our research and development under this USDA grant and ultimately deliver an advanced solution for wildfire prevention and land management.
07.26.21
See you at XPONENTIAL!
Parallel Flight Technologies will be exhibiting at AUVSI XPONENTIAL 2021, taking place August 16-19 in Atlanta. Visit us at Booth #2201 to meet our team and see our Firefly aircraft in person!
We hope to see you there!
07.02.21
$6.5M Raised! Thank you from Parallel Flight
Dear Investors,
That's a wrap! Our Regulation A+ offering officially closed on Wednesday, with more than $6.5M raised. On behalf of myself and the entire team here at Parallel Flight, I want to thank each and every one of you for your support throughout this campaign.
To our 4,776 new investors - Welcome to the Parallel Flight family! Here are some things you need to know:
Verifying your investment status: It may take a few weeks for PFT to receive the full list of new Reg A investors, so we encourage you to verify your investment status by logging into StartEngine's investment dashboard. If you have any questions about your investment, please visit StartEngine's FAQ page or contact their support team at contact@startengine.com.
Staying up-to-date with PFT: If you aren’t already signed up for our email list, please subscribe to receive the latest updates from The Hive. You can also follow our social channels via the links below or login to the Investor Portal on our website to view quarterly investor updates and FAQs.
Getting your PFT gear: For those of you who invested $1K or more, your gear is coming soon! Please be patient with our small team as we work to pack and ship t-shirts and hats to thousands of you.
Contacting our team: If you have questions for me or one of my team members, please email us at invest@parallelflight.com and we will reply as soon as possible.
Thank you again for supporting us throughout our most ambitious crowdfunding campaign to date. You have helped bring us one step closer to delivering unmanned systems to save lives, property, and the environment.
Cheers,
Joshua Resnick, CEO
06.30.21
Hours Left: PFT's Reg A Closes Tonight!
Parallel Flight Technologies' Regulation A+ Offering will close tonight at midnight!
Don't miss your opportunity to be an early-stage investor in our game-changing drone technology!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
06.30.21
Final Hours of Reg A: PFT Advisors Visit African Countries with a Goal of Securing Contracts
PFT Advisors Visit African Countries with a Goal of Securing Contracts
Parallel Flight Technologies advisors recently toured four African countries with a goal of securing contracts for industrial logistics and other delivery applications. Our team is now engaged in advanced negotiations with these potential customers who are interested in utilizing our heavy-lift drone for logistics, medical deliveries and agriculture.
In addition to these exciting contract negotiations, Parallel Flight Technologies has achieved substantial company milestones throughout the course of our Regulation A+ offering.
Since opening our Reg A round in September, we have:
Completed construction of our first commercial-intent drone, Firefly, and began advanced flight testing with the aircraft
Received 30 signed letters of intent from potential customers
Completed grant work for the NSF and USDA
Hired 10 full time employees and added 3 industry experts to our advisory board
Met with government leaders in the US and abroad to discuss the potential for our heavy-lift drone technology
Became an official partner of the Alaska Center for UAS Integration (ACUASI), a Lead Participant in the Federal Aviation Administration’s BEYOND program, allowing us to demonstrate missions for the BEYOND program
Formed commercial partnerships with industry leaders
Signed to trade on StartEngine Secondary
And raised millions from investors like you!
Now, we're hours away from wrapping up our most ambitious crowdfunding campaign to date! We look forward to achieving even more in the coming months with the support of our 4,000+ new investors.
If you haven't invested in our Regulation A+ offering, now is the time. Make your investment now before our round closes in a few hours!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
While the company has signed a quotation agreement to trade the securities offered on StartEngine Secondary’s new alternative trading system (the “ATS”), a company which intends to be quoted on the marketplace will be subject to certain requirements which the company may or may not be able to satisfy in a timely manner. Even if a company is qualified to quote its securities on the market, there is no guarantee an active trading market for the securities will ever develop, or if developed, be maintained. You should assume that you may not be able to liquidate your investment for some time or be able to pledge these shares as collateral.
06.29.21
1 Day Left: THANK YOU for following our Reg A!
Hey everyone,
The final hours of our Reg A offering are finally here! I wanted to send you all a quick video message to say thank you for following along throughout this journey.
The past eight months have been truly incredible for Parallel Flight. We introduced our first commercial-intent drone, Firefly, and completed hours of flight testing with the aircraft. We grew our customer pipeline and now have 30 signed letters of intent from potential customers. We're now preparing to bring this new parallel hybrid aircraft to the market, and we believe our technology has the potential to revolutionize the drone industry on a global scale.
Thank you, again, for supporting Parallel Flight throughout this campaign. If you've been waiting for the right time to invest - the time is now! Our Reg A offering closes tomorrow at midnight, so don't miss your opportunity to invest in the future of drone technology.
Cheers,
Joshua Resnick, CEO
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
06.28.21
2 Days Left: 30 Signed LOIs
Parallel Flight Receives its 30th Signed LOI
Our customer pipeline continues to grow!
PFT has received 30 signed letters of intent from potential customers who are interested in purchasing more than 200 aircraft over the next three years, making our customer pipeline worth over $75 million.
We believe there are endless possibilities for our groundbreaking technology, and we hope you’ll join us in our mission to deliver unmanned systems to save lives, property and the environment.
Our Regulation A+ Offering closes in just two days, so don’t miss your chance to invest!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
REWARDS
$1,000
Parallel Flight T-Shirt
Invest over $1,000 and earn a Parallel Flight t-shirt!
$2,500
Parallel Flight Hat
Invest over $2,500 and earn a Parallel flight hat and t-shirt!
$15,000
Executive Perk
Earn an invitation to Beta aircraft unveil event/dinner with executive team. You'll see a flight demo with the object of your choice. Travel costs to the event are not included. T-shirt and hat perks are included.
JOIN THE DISCUSSION
0/2500
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
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.
