Curtiss Motorcycles Raising Cash Via WeFunder.com
Curtiss Motorcycles, led by CEO and Chairman of the Board H. Matthew Chambers, has a WeFunder.com page open that allows you to purchase equity in Curtis Motorcycles, confirmed by CMOT common stock, which is also available on OTC Markets.
On July 25, CMOT is trading at $0.2900 per share. In contrast, the WeFunder.com campaign gives participants five shares for every dollar invested, with a minimum buy-in of $1000. As of July 25, the WeFunder.com total is $378,986, spread out over 193 investors. According to WeFunder.com, the market cap of Curtiss Motorcycles sits near $11.6 million. The campaign ends on July 30.
WeFunder.com is an equity funding site, not the stock market. It warns users that “it’s much riskier,” “startups either win big or go bankrupt,” and “there is no secondary market, and it’s hard to price or re-sell your shares.”
In the case of the Curtiss Motorcycles campaign, you will receive CMOT stock. However, the shares “contain a legend restricting their immediate sell,” according to CFO Jay Etheridge. “We anticipate removing the legend as we uplift to NASDAQ or comparable market. Based upon current investment interest in CMOT common stock and pre-selling interest in 2020 Zeus/Hades production, we anticipate raising 1.5 million USD at 20 cents. Any future offerings are not expected until the one-for-ten reverse split and at a much higher valuation.”
Curtiss Motorcycles displayed a concept prototype of the Zeus at the 2018 Quail Motorcycle Gathering, where it earned the Most Innovative Motorcycle award. The Curtiss Motorcycles will feature a unique powertrain, including the battery.
“We always viewed Curtiss battery innovation as logically accelerative over time,” Chambers explains. “Therefore, our solution is meant to be infinitely upgradable at the most efficient, read low, cost to our customer. For this reason, the casing of our batteries is billet made and indestructible. The internals are biodegradable. The chemistry is our own and will be constantly evolving. The manner of communication between our cells and their various component parts is proprietary. Each of those solutions has been derived from the perspective of what is best for our customer. The bottom line is greater stability, higher range, efficient packaging, lightest weight, beautiful detail, ideal architecture, and perfect proportion all designed to be upgraded into perpetuity on a machine with the fewest moving elements each specified to last agelessly while maintaining them as new specification.”
Range is always an issue with electric motorcycles, which is addressed by Jordan Cornille, Director of Design: “At our current battery capacity and estimated weight, our tech team has projected an average range of 135 to 150 miles on a charge. Different riding conditions can, of course, affect these numbers. In warmer climates, we can expect to see closer to 165 miles, and in cooler climates, 105 miles. In urban city riding, we can expect a 15- to 20- percent overall increase in these estimates.”
Undoubtedly, the Curtiss Hades and Zeus Radial V8 are spectacularly original motorcycles. Curtiss Motorcycle has also chosen an unorthodox method of funding its company, engaging investors, as well as customers, to produce its bespoke EVs.