SoapSox offering is now closed and is no longer accepting investments.

INVEST IN SOAPSOX TODAY!

Next generation of washcloths for kids.

SoapSox® the next generation of washcloths for kids. A collection of adorable characters making bathing fun for kids, and easy for parents. Simply "feed" liquid soap to your favorite animal. Built in finger pockets facilitate hygiene through play.

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.
SoapSox

$1,064,966.25 Raised

REASONS TO INVEST

Reasons Icon

Over $3.3M in lifetime sales and on track to double last years sales with over $400k in profit

Reasons Icon

75% of customers come back and buy another SoapSox

Reasons Icon

Current distribution to Walmart, QVC, Buy Buy Baby, Target, and 3,000 specialty stores through an exclusive agreement with Ginsey Home Solutions, along with partnerships with the Honest Company

ABOUT

HEADQUARTERS

1480 Colorado Blvd
Los Angeles, CA 90041
VALUATION

$6.2M

SoapSox® the next generation of washcloths for kids. A collection of adorable characters making bathing fun for kids, and easy for parents. Simply "feed" liquid soap to your favorite animal. Built in finger pockets facilitate hygiene through play.

TEAM

Ray Phillips
Ray Phillips
CEO and Director

Prior to launching SoapSox, Ray previously worked as Program Director for a residential treatment facility for children for 16 years. Ray provided mental health services to child and adolescent populations specializing in behavior and crisis management, program development and implementation. Has a BA in Psychology from University of California, Riverside.

Alvin Uy

Alvin Uy

Vice President and Creative Director

Co-Founder & CEO of Insight Creative Group, 18 years experience specializing in product development, ideation, and graphic design.

Quantasy

Quantasy

Marketing

Quantasy is a creative services agency that creates brand experiences that occur at the intersection of entertainment, advertising, technology and culture. We deliver premium interactive and social content for clients in the automotive, entertainment, not-for-profit and financial sectors. The agency has expertise across branded content and entertainment, social media, web analytics, emerging platforms, millennial marketing and more.

TERMS

SoapSox
Overview
PRICE PER SHARE
$7.75
DEADLINE
May 1, 2020
VALUATION
$6.2M
AMOUNT RAISED
$1,064,966.25
Breakdown
MIN INVESTMENT
$240.25
MAX INVESTMENT
$106,996.50
MIN NUMBER OF SHARES OFFERED
1,290
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Common Stock
MAX NUMBER OF SHARES OFFERED
138,064

Maximum Number of Shares Offered subject to adjustment for bonus shares


Company

:

Phillips Entertainment Group Inc.

Corporate Address

:

1480 Colorado Blvd, Los Angeles, CA 90041

Offering Minimum

:

$9,997.50

Offering Maximum

:

$106,996.50

Minimum Investment Amount

(per investor)

:

$240.25











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

1,290

Maximum Number of Shares Offered

:

13,806

Price per Share

:

$7.75

Pre-Money Valuation

:

$6,200,000.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Perks* and Investment Bonuses

Early Bird

First 7 days - 10% bonus shares

Next 14 days - 5% bonus shares

Volume

$500+ (VIP Owners - 10% lifetime discount on purchases online + 2 SoapSox)

$1,000+ (Above + 20% lifetime discount on purchases online + SoapSox Exclusive Owner Gift set + 5% bonus shares)

$3,000+ (Above + 25% lifetime discount on purchases online + new product releases annually + 5%

$5,000+ (All of the above + 30% lifetime discount on purchases online + 3 person gifting program + 10% bonus shares)

$20,000+ (Above + 20% bonus shares + design and naming of new character)

*All perks occur after the offering is completed.

The 10% Bonus for StartEngine Shareholders

Phillips Entertainment Group Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 or made at least two investments in StartEngine's own offerings.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 10 shares of common stock at $7.75 / share, you will receive 11 Common Stock shares, meaning you'll own 11 shares for $77.50. 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 for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement, unless their eligibility period has been extended through additional subsequent investments in StartEngine's own offerings.  

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

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

Article Image
SoapSox(R) Makes a Big Splash With Powerhouse Disney Baby at the North American International Toy Fair

SoapSox® is excited to announce its partnership with Disney Baby at the 2016 North American International Toy Fair in New York on February 13th-16th, 2016.

Article Image
The Best ‘Shark Tank’ Products For Kids

For every entrepreneur on Shark Tank whose $1 million idea is a cat-renting service, there is truly innovative products that makes parenting easier.

Article Image
Child Worker at Hillsides Finds Solution to Bath Time Problem for Parents

Working with children who had experienced trauma, Ray Phillips found that the most difficult time of the day was bath time. As a program director who worked with vulnerable children and youth for 16 years at Hillsides, a premier provider of behavioral healthcare, Phillips took matters into his own h

Article Image
Write the Title of the Article Here

Most entrepreneurs left Shark Tank empty handed during the second episode of season six, including a pair of founders who turned down $1 million just six months after launching their product.

Article Image
SoapSox(R) Makes a Big Splash With Powerhouse Disney Baby at the North American International Toy Fair

SoapSox® is excited to announce its partnership with Disney Baby at the 2016 North American International Toy Fair in New York on February 13th-16th, 2016.

ALL UPDATES

05.17.20

SoapSox reached our max goal of $1.07M because of you!

Thank you!!

I want to take the time to say thank you to everyone of the investors who have joined us on this journey. We are humbled and thrilled that with your support we were able to reach our funding goal. 

Now that we have reached this new milestone, we understand that the work continues. Even more important is our ability, and commitment to execute. 

Making good on our commitment we have remained busy working to expand SoapSox' brand presence, and drive sales. Although we are in a new environment in the era of COVID19. I believe we can be tasteful in our marketing efforts, and share a positive experience with parents and their children through our product. More than ever the world is full of uncertainty, and what we provide is a little joy, laughs, and tools to teach better hygiene. 

We have been working diligently to increase our direct to consumer and Amazon business. As a result of our work we have redesigned our website with a new look and feel that we believe will enhance the shopping experience and increase conversion rates. The same look and feel will also be applied to our Amazon store page in the coming days. 

We've also developed several new videos that captures and conveys the essence of our brand to consumers. As well as increased our product bundles to offer more variety to customers. Paw Patrol (see below) and Sounderz are well under way and expect to be launched this fall. 

Most changes you will see immediately by using the links below, whiles others are being implemented in the coming weeks. 

There will also be additional changes with how we communicate with you, our investors now that the raise is over. 

What to expect? 

  • We will now begin emailing each of you directly. 
    • You each should have received our welcome email with details regarding our contact information, perks, investor discount codes, and certificate of stocks.
    • If you have any questions feel free to email me directly.
  • You will receive quarterly updates on company sales, product developments, partnerships, or any other pertinent information. 
    • A link to where you can find company financial information is located in the email provided.

Throughout this transition of moving away from communicating through StartEngine we will do our best to be very receptive to our investors suggestions, and or concerns. Please don't hesitate to let me know how we can best keep you informed of all things SoapSox, or if you'd like additional information or clarification on something. We are a small company with big ambitions, and we believe we are all in this together, because we are. So suggestions, input, professionals contacts, and support are welcome. 

We will continue to move the brand forward with a new level of confidence given the resources, belief in the product, and ultimately belief in our team that you all have conveyed. 

Thanks to each of you, we are looking ahead and forward to an exciting future.

Cheers!

Ray, and the SoapSox team. 

(Paw Patrol SoapSox are in final design stages)


04.23.20

98% to maximum funding goal and closing soon!

Hi Everyone,

We are extremely proud to report that we have reached another milestone of $1,000,000!! 

Because of you, we have raised over $200k in the last 3 days- so thank you. We thank you for believing in what we are trying to achieve, and stepping in to join us on this journey.

We are almost fully subscribed and will likely be oversubscribed. There is only 7 days, so if you have been considering investing make sure to get in while there is still space (or join the waitlist).

Please continue to share our campaign with family and friends. https://www.startengine.com/soapsox

Again, thank you all.

Please stay healthy, and stay home.

Cheers!

-Ray and the SoapSox team!


04.21.20

Crossed $850k and closing in 10 days!

Hi Everyone,

We are happy to report that we have reached another milestones, and faster than anticipated. We continue to be amazed by the growing number of people wanting to be a part of what we all are creating. We are incredibly grateful and even more excited about our bright future. 

As result of the response and momentum, we have decided to extend our campaign an additional 10 days to allow more people to join us on this journey and reach the $1,070,000 max funding limit. 

This week, all of our $500 level investors and above will receive their SoapSox perks. Please let us know how your kids respond, and your thoughts about the product.  We believe you will be amazed by the quality, "fun"tonality, detail and durability of the product. 

Now, the count down begins, and we need your help to reach the funding max. Please share our link below with friends and family. https://www.startengine.com/soapsox

Also remember to do your part and stay home and healthy!

Cheers, 

- Ray, and the SoapSox team.

04.20.20

Notice of Material Change in Offering

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

Hello! Recently, a change was made to the SoapSox 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.

04.17.20

SoapSox crosses $700k in investment from 1,400+ investors.

Hi Everyone,

We are beyond grateful for you, our investors, customers, advisors, and advocates. 

While drafting this email I remembered first having the idea of turning SoapSox into a product after a rough spat of trying to motivate a few kids to take a bath. Although ultimately successful due to SoapSox, it was the beginning of our pursuit of the American dream. 

As you can imagine there were countless late nights and early mornings. Times when two jobs were a must to fund the business, and more than few setbacks. However, 6 years later, and now owning 6 patents, retail partnerships, funding, and a clear strategy for growth. We are beyond thrilled to have reached this milestone. 

We know that these are challenging times in our country and around the world. Proper hygiene, and staying healthy are at the top of everyones list. To do our part, we are working on plans to do more to help families and bring a few more smiles to kids around the country. We will share more in the coming weeks. 

For those that have been watching, and are considering joining us on this journey. Please reach out to us with any questions or concerns if there is anything holding you back.

Again, we cannot thank those of you who have joined us on this journey. Thank you for your support and belief in our vision. 

It is amazing to see how many people have reached out throughout the campaign to share their enthusiasm for what we have built and how we plan to continue growing this company. It is because of each and every one of you that we were able to reach this milestone and without you, this never would have happened! We look forward to hopefully surpassing many other milestones together and are proud to have all of you behind us every step of the way. 

Please do you best to stay safe and healthy.

Cheers!

- Ray, and the SoapSox team.

04.15.20

Notice of Funds Disbursement

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

Hello!

As you might know, SoapSox 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 SoapSox 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

04.07.20

SoapSox Raises $600K

We have reached another milestone and are well on our way to the next. 

I want to take the time to share our appreciation for our investors who are now family. Our previous email was well received and allowed us to reach new heights in regards to our raise. We are now well on our way toward reaching the next one. 

More than ever I realize how lucky we are to have such an amazing community who believes in what we are doing. Not only due to the kind words and outpouring of support, but it was one of our most successful raise weeks ever, crossing 1,100+ investors and over $600k in amount raised.

These are challenging times in our country, and each of us are doing our best to navigate them. We were told that Soapsox is bringing some joy to kids all around the country, and helping teach them better hygiene. We’ve also been told that parents are happy as well (especially now that everyone is spending a lot more time together). 

During these times sales have remained steady, however again nothing is more important than your health and that of your family and friends. 

Lastly, if you have considered investing, now is the time. We have positioned ourselves for growth with expanded partnerships with Walmart, Target, and others. We also are looking forward to the addition of new products, and intro into new categories including pet.

We have a bright future and would love for you to be a part of it.

Please share our link below with friends and family. https://www.startengine.com/soapsox

04.06.20

Notice of Funds Disbursement

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

Hello!

As you might know, SoapSox 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 SoapSox 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

03.24.20

Balancing business and family during Covid-19

Hi everyone,

As I work from home drafting emails, taking calls, and juggling being my wife’s teachers assistant and the PE teacher for our three kids. It struck me that we are all doing our best to manage business and family during these challenging times. 

SoapSox despite the challenging times is doing well. SoapSox increased inventory levels months prior to Covid-19 impacting manufacturing in China, and have 4 months of inventory on hand. Domestic sales have increased again for the second month in a row up 350% from 2019. Honest Co. has confirmed the expansion of our partnership with an order pending. Walmart sales are at 1.2 units PWPS, our Target end cap campaign launches April 1st across the country, and we are nearing a new milestones of $500k in investment on StartEngine with 823+ investors.

All of the above is important, however what is most important is you/us, our families, our health. So we will continue to do our part to grow the business, and have a positive impact in the lives of families and kids. We ask that you continue to do your part to take care of yourself and each other.

Also,  if you happen to have a call with any parent any time soon, please excuse kids laughing in the back ground, and in my case my two year old daughter trying to wrestle with her big brothers. Although distracting at times, its a sound that makes the little inconveniences worth it. So from my family to yours, please stay safe, healthy, and do you best to enjoy the extra time with the ones you love. We wish everyone the best.

Please share our link below with friends and family. https://www.startengine.com/soapsox

Ray Phillips 

CEO

03.20.20

Notice of Funds Disbursement

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

Hello!

As you might know, SoapSox 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 SoapSox 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

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into SoapSox.

$240.00

StartEngine Owner’s Bonus

This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.

$500.00

Invest $500+

Receive the above 10% lifetime discount on purchases online + 2 SoapSox

$1,000.00

Invest $1000+

Receive the above 20% lifetime discount on purchases online + SoapSox Exclusive Owner Gift set + 5% bonus shares

$3,000.00

Invest $3,000+

Receive the above 25% lifetime discount on purchases online + new product releases annually + 5% Bonus shares

$5,000.00

Invest $5,000+

Receive the above 30% lifetime discount on purchases online + 3 person gifting program + 10% bonus shares

$20,000.00

Invest $20,000+

Receive the above + 20% bonus shares + design and naming of new character

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.

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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.

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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.

RAISED
$1,064,966.25
INVESTORS
1,882
MIN INVEST
$240.25
VALUATION
$6.2M

@ 2022 All Rights Reserved

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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. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.


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