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This is an equity investment opportunity. Through equity crowdfunding you can invest in a start-up or small business and profit from growth in the value of the business.
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Jacqueline Lunenborg team 14
Jacqueline Lunenborg ,

Solarus. 3x more energy!

This is the unique opportunity to become shareholder in the solar energy disruptor Solarus. Invest in the future, invest in Solarus!

$1,047,978 INVESTED
180%
$582,210
Minimum target amount
2.84%
Equity
Solarus. 3x more energy!
INNER CIRCLE

Negative working capital and potential cash flow issues

Ico011

Hi,


Based on the 9/30/17 figures the company has a negative working capital. Considering the sales turnover expected in Q4-2017,  the cash balance on 9/30, short term liabilities and the monthly salaries, rent etc. I assume the Company is having serious cash flow issues currently? Can you explain the starting cash balance on the cash flow statement of EUR 600k as per 2018? Does that include a succesful crowdfunding? I understand negotiations for an asset loan, as well negotiations with larger investors are pending but without available cash the operations might (again) significantly slow down and expectations will have to be adjusted once more. At this point in time, avaialble free cash to fund the operations is critical to meet the expectations. Please advise. 


Best,
Daniel

  • Dani International B.V.
  • Posted 8 months ago
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Ico011

Dear Daniel,

Thanks for this question, you are raising a valid point. The opening balance of cash in the Cash Flow statement of €600k assumes indeed a fresh capital injection. This can be, but does not necessarily have to be the crowd funding.


As any startup, free cash flow is needed to fund operations to execute the current plan. Solarus has always managed to get the needed funds in and is now close to the end of the ‘valley of death’. 

The company is currently in the process of closing the 2nd tranche of its investment round with some large investors. In fact, today we got a verbal confirmation that it successfully passed the Investment Committee of a well known international investment fund.  We expect to sign the paperwork before Christmas.

At the same time to mitigate this risk, Symbid has specifically put in a firm guarantee that the company has enough cash to continue for at least 9 months. The current shareholders or new investors do need to put up the required fresh capital to cover this ‘gap’. This will be monitored by Symbid and the crowd fund proceeds will not be released when this condition can not be met.  However we're convinced (especially with the confirmation stated above), that this won't be an issue.

Hopefully this will be of enough comfort to you.

Best Regards 

Joost

  • Joost Brinkman
  • Posted 8 months ago
Ico011

Dear Joost,


Above you stated Solarus successfully passed the Investment Committee of a well known international investment fund and you are expecting to sign the paperwork before Christmas. Would you please be so kind to confirm you have indeed signed the aforementioned paperwork?


Yours sincerely,

Jorik



  • J. F.
  • Posted 7 months ago
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Ico011

Dear Jorik,  

thanks for your question.  Unfortunately the timelines were too short to have this signed off, we expect finalization in January with this investor.    

Best Regards

Joost

  • Joost Brinkman
  • Posted 7 months ago