All perks occur after the offering is completed.
Physical product perks will be fulfilled once manufacturing is underway and shipping begins, anticipated summer 2019.
These footnotes provide clarifications for MAGFAST's offering in its entirety.
1: $630 is the ‘when sold separately’ price of the Pro Kit. To date, is has not been offered at full retail price, only as a special offer to attendees of our special online events.
2: All time-stamped order data is stored by MAGFAST in records.
3: Amy and Seymour Segnit were previously the owners of thingCHARGER, Inc. which shipped over ¼ million units of thingCHARGERs based on that company’s records.
7: Based on discussions with industry experts. Every business has to choose acceptable ROI’s based on their brand, margins, and overall business costs and growth model. For illustrative purposes only.
8: Based on MAGFAST margins and cost of doing business, 2.8 return on investment is the minimum value for scalable marketing for MAGFAST at this time. Changes in cost of goods or cost of doing business will alter this calculation.
9: 6.8 ROI was calculated based on best performing Facebook audiences, creatives, and funnel measured using the revenue generated over the cost of advertising during July 2017's marketing test.
10: 66% based on July 2017 direct marketing traffic of email list subscribers vs email list subscribers with phone number.
11: Based on preorders from July 2017 direct marketing tests. Average order value calculated based on total preorder value averaged over total number of July preorders.
12: Based on 4,000 total transactions, including those with multiple payments, there have been 14 chargebacks from 10 individuals.
16: Trees are planted via contribution to our partners Trees for the Future, Inc., a non-profit organization. As of Oct 27th 2017 contributions toward tree planting result in 34,000 trees.
18: Based on tooling estimates provided by our partner, P3 International. Final tooling costs may vary.
20: Hand-made prototypes that include incomplete functionality, animations and CAD 3D renders are used throughout our videos and web pages to illustrate MAGFAST at this pre-production stage.
21: We calculate your investment as the sum we receive after deducting the fees levied by others. Financial transactions, including investments, typically have associated fees. In this case, StartEngine deducts 6% and, if you invest using your credit card, there is a card processing fee of 4%. When we share revenue with you, banks may levy a small fee for transmitting your payment. All fees will be fully transparent and 'pass through'; in other words, we will work hard to minimize fees where we can, and we will only deduct the fees charged to us by the other institutions, not a penny more.
22: Limited Liability Companies (LLCs) have considerable flexibility in the language used to define their ownership and governance. Instead of 'members' whose engagement is defined by a 'limited liability agreement', the Company has chosen to use terminology that we believe is more readily understood; the Company's governance is thus defined by its bylaws, managing members are known as its board of directors, and members are known as stockholders. Full details are shown in our Member Agreement and Bylaws.
MAGFAST and the MAGFAST 'Smiley' logo are trademarks of MAGFAST LLC and are used under license.
Apple, Lightning and MFi are trademarks of Apple, Inc. and are used by license under Made for Apple/MFi program.
Qi is a trademark of the Wireless Power Consortium and is used under license.
Samsung and Galaxy S are both registered trademarks of Samsung Electronics Co., Ltd. HTC, the HTC logo, HTC One and HTC Sense are the trademarks or registered trademarks in the U.S. and/or other countries of HTC Corporation and its affiliates. LG is a trademark of LG Corp.
*MAGFAST Team will be available via video conferencing. If requested onsite, all travel, lodging and expenses will be the responsibility of the recipient of the perk, and the presence of individual team members will be subject to availability.
Included in the Working Capital total shown above are: - Salary for the principal shareholders (Seymour Segnit and Amy Rau Segnit) of approximately $75,000 ea. - Travel and Expenses of approximately $15,000.