Maximum ($1,070,000) of Convertible Promissory Notes
Minimum ($10,000) of Convertible Promissory Notes
Convertible Promissory Notes
Note converts to Common Stock when the company raises $1,070,000 in a qualified equity financing
Maturity Date: 10/31/2020
$10,000,000 Valuation Cap
20% Discount Rate
6% Annual Interest Rate*
*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below
What is a Convertible Note?
A convertible note offers you the right to receive Common Stock in Your Car Our Driver Inc,. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $1,070,000 in qualified equity financing. The highest conversion price per security is set based on a 10,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing. You also receive 6% 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 common shares of the Company as of immediately prior (on a fully diluted basis).
|Company||Your Car Our Driver Inc,|
|Corporate Address||2901 W Coast Highway Ste 200 Newport Beach, CA 92663|
|Description of Business||YOUR CAR OUR DRIVER is Orange County's premier solution for private chauffeur needs. Our bonded and insured drivers are available 24/7 to take you, your friends or loved ones to the destination of your choice in the comfort and security of your own car. Our chauffeurs drive clients in client-owned cars for only. All chauffeurs are screened, boned and insured.|
|Type of Security Offered||Convertible Promissory Notes|
|Minimum Investment Amount (per investor) ||$200.00|
$1,000+ - 5% off service first 1 month of reservations*
$10,001+ - 10% off service first 3 months of reservations*
$25,001+ - 12% off service first 6 months of reservations* and 3 hour meeting with Founder Josef in Orange County, CA
$50,001+ - 15% off service for first 12 months of reservations* and 4 hour meeting plus Lunch or Dinner with Founder Josef in only in Orange, Los Angeles, San Diego or Riverside County
$100,001+ - 20% off service for first 18 months of reservations* and 5 hour meeting plus Lunch or Dinner with Founder Josef anywhere in California
*Service initially only available in Orange County, CA
$30 per hour standard vehicles
$35 per hour Limousines type of vehicle
3 hour min everyday
5 hour min after 5pm on Saturday
Gratuity not included
Admin fee not included
**All perks occur after the offering is completed.
The 10% Bonus for StartEngine Shareholders
Your Car Our Driver Inc, will offer a 10% bonus on the annual interest rate for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
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 6.6% instead of 6%.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. 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. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.