Audios builds fully wireless loudspeaker for venues, event spaces, concerts and conferences. The speakers eliminate cables and do require a wi-fi router or bluetooth to function. Cables are time-consuming, expensive and easily damaged. They take 80% time to setup vs wireless, cost $1/foot per speaker and have to be replaced every 6-12 months. According to the company, Audios means zero cables purchased, zero cable replacements, and 80% faster setup times which saves consumers thousands of dollars annually.
Audios Business Structure
- Form: Corporation
- Jurisdiction of Incorporation/Organization: Delaware
- Date of organization: August 8, 2016
The Deal Terms
- Security: Crowd SAFE
- Valuation Cap: $8,000,000
- Discount Rate: 25%
- Min. Offering Amount: $50,000
- Max. Offering Amount: $1,070,000
- Min. Investment: $100
The company's primary competitor is Sennheiser, because they offer a fully wireless loudspeaker solution designed for public announcements. SoundBoks and JBL also offer a wireless loudspeaker solution. However, according to the company, their speakers use bluetooth which falls short in many venues, event spaces, and conference applications.
How will Audios Use The Funds Raised On Republic?
Erik Young (CEO) participates in business development, engineering and intellectual property creation and defense. His business responsibilities include strategy, procurement, manufacturing, and operations. His engineering duties include system, firmware, software, and mechanical design.
David Engler (CFO/CTO) participates in all things related to hardware. This includes but is not limited to manufacturing, mechanical, wireless, and power systems design. He also architects and builds all proprietary electronics used in Audios products.
Financials & Liquidity
As of the date of the latest Form C/A, the company had an aggregate of $57,038 on hand in cash and cash equivalents, leaving the company with approximately 54 months of runway. If the target offering is met, the company will have the resources for up to 82 months of runway, which the company believes will be sufficient to allow it to go above its breakeven point.