Some of you may have been wondering just when we will be launching our Kickstarter campaign. Well, we’ve been considering a few funding options throughout this process in addition to crowdfunding. It seems like the best and most efficient way to complete the RIG 6 production development is to bring investors on board starting at the beginning of 2018.
This means we will not be pursuing the crowdfunding route.
Why the change of plans?
- After talking with our business and financial advisors, it became clear that raising funds so close to the end of the fiscal year would make the company’s taxes too costly right from the get-go.
- Accepting investors without having to return a product means that funds received can go straight into development. This means we can complete the RIG 6 faster. Going the crowdfunding route would mean smaller margins for development since much of the funds left over after taxes and fees would go directly to producing and shipping the products.
- Due to current events and some policy changes with Kickstarter, our RIG 6 project is no longer allowed to launch. Finding this out was the final deciding factor for us to pursue funding through investors.
If you have any questions or comments, please let us know.
We look forward to the exciting days ahead! Stay tuned.
Jeff and Heather Coppi