CycleBoard is a 3 wheel stand up electric scooter designed to significantly reduce the fall risk normally associated with stand up riding. You can also carve on the CycleBoard giving a riding experience similar to surfing or snowboarding. We have been in business a little over 2 years. Our first full year in 2016 was strictly dedicated to R&D. In 2017, we successfully produced and sold 500 CycleBoard units. We have developed generation 2 of our current CycleBoard as well as 3 new models that we will be bringing to market in early 2018. The new models are: 1) A lower price point entry level model called the SPORT, 2) The second generation, improved version of our current ELITE model, 3) An all-terrain model called the ROVER ,and 4) A model specific for GOLF that includes a custom golf bag. Our sales in 2017 were more than $400k and our projections for 2018 are roughly $2,000,000. Our first 500 units sold more easily than we anticapted with little to no marketing budget and we expect that opportunity to increase as more people become aware of the CycleBoard brand as well as the release of our new models.
We recently heard about kickfurther and are excited to work with their funding community to help finance our inventory and grow our brand. We are seeking funding for 25 units remaining in our existing inventory and we expect this inventory to sell through in less than a month.