Test test test
testing
Use of Proceeds
If the offering's maximum amount of $1,000,000 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Intermediary fees | $49,000 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Units, under registration exemption 4(a)(6), in Youspan dba Avavee. This offering must reach its target of at least $10,000 by its offering deadline of March 19, 2026 at 12:00pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
Avavee’s official name is Youspan, so that’s the name that appears in the statements below.
These financial statements have been audited by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Feb 16, 2023MAGFAST is live with some gorgeous, unique...
- Nov 24, 2022The countdown clock is running. MAGFAST's fall...
- Nov 22, 2022Seymour has landed at JFK and is right now...
- Nov 22, 2022Join us **this Thursday, Thanksgiving Day...
- Jul 12, 2022A quick reminder that our big Summer 2020 event...
- May 3, 2022We're down to the last few hours, and MAGFAST's...
- May 2, 2022MAGFAST has now raised over $4.9M. Less than 2%...
- Apr 29, 2022Just a few hours from now we'll be streaming...
- Dec 2, 2021This is it! The final hour to invest in...
- Dec 2, 2021We just went LIVE with our 'Closing Ceremony'...
- Dec 2, 2021Today is the final day to **invest in...
- Nov 30, 2021Just TWO days remain to invest in...
- Nov 29, 2021Today we're announcing that we're now...
- Nov 27, 2021I hope you're having a relaxing weekend. I...
Frequently Asked Questions
We've learned from our previous offerings that many people have similar questions about MAGFAST and how to invest. This Q&A video (originally shown on Tuesday, November 16, 2021) covers many of the questions asked by investors, and there are answers to additional frequently asked questions below.
Questions about investing in MAGFAST
We can't of course know what the demand will be like. Many people were unable to get into previous investment rounds, so it is possible that there will be strong demand this time. We do recommend only investing if this is right for you - investing in an early stage company like ours is risky.
If this offering sells out, the Netcapital site will automatically stop taking further investments. However, if you see a message indicating that there's no more room, you do have the choice to join the waitlist. That could be a good idea - it's possible that there will be some additional room should other investors be unable to fund their investment in time, and Netcapital may also be able to inform you of future offerings from MAGFAST.
Yes, by SEC regulation we aren't able to cover specific offering details in our video. But we're able to do so within the Netcapital portal. You'll see our price per share at the top of the 'Pitch' tab: $15.17, and our valuation for this offering at $41,801,460.
Netcapital requires a minimum investment of $100 for U.S. investors (actually, a few cents more than $100 in our case because the share price is not a round number) and $300 for international investors (or slightly more than $300).
There is no fixed maximum investment in MAGFAST. There are, however, some constraints: First, we're aiming to make this offering available to the maximum number of people - there is a chance that, once again, not everyone will be able to make it into this round. Second, the SEC has rules, based on what you can afford, about how much you can invest. You will see questions (to which your answers are fully confidential) which will help the platform calculate the maximum sum you can invest under government rules.
Yes, you will be able to come back in and make as many additional investments as you like, until or unless the round fills up. There is no additional cost for making multiple investments: Netcapital does not charge any fee to you as an investor, other than the 3% processing fee if you choose to invest using a credit card.
The official closing date is November 29th, and it is possible that Netcapital will offer shares to people from the waitlist, if available, after that date.
The information is all here at Netcapital.
Questions from international investors
According to legal advice, yes, absolutely: "Can Non-U.S. Investors Participate in U.S. Crowdfunding Offerings? Yes. No matter where he or she lives, anyone can invest in a U.S. Crowdfunding offering". For more information, take a look here.
It's not truly possible for us to know the exchange rate offered or any fees charged for a foreign transaction by your bank (if you send payment via wire transfer) or credit card processor.
We're delighted to welcome international investors, as long as your country allows you to make investments in a U.S. equity-crowdfunding offering. If you have questions about setting up your Canadian Social Insurance Number or other non-U.S. version of a social security number, please specify that you are not in the U.S. If you need further help, please contact Netcapital.
Questions about paying for my investment
That works. Please be aware that it can take some days for the Netcapital Wallet to be funded, so, if we’re nearing the close date, you might instead like to invest by setting up your bank account or using a credit card. If you choose to invest by credit card, it might be a good idea to phone your card issuer to let them know in advance. We understand from Netcapital that any funds left in your Wallet after you invest can always be refunded.
We understand from Netcapital that, while the interface they use to allow a link to bank accounts for investment is connected with thousands of banks and credit unions, there are some smaller institutions that are not supported. You could ask your credit union if they have a means of connecting with Netcapital - although that's not likely to happen in time. The alternatives are of course to invest using a credit card or wire transfer.
Netcapital does not charge investors a fee for making an investment, which means that:
- There is typically no fee for making your investment through a bank transfer (available only from U.S. banks and credit unions supported by Netcapital's interface)
- There is, however, a ~3% fee for payment via credit card. Card processors charge a fee for use of their services - Netcapital is, as far as we're aware, just passing on the cost.
- We understand that Netcapital does not charge a fee for a wire transfer, but it's likely that your bank does. Fees in the United States are typically $15-$25, but please check with your bank first.
No, Netcapital does not charge a fee to you. Any fees for the offering will be covered by MAGFAST. There is, however, a card processing fee (around ~3%) should you invest via credit card.
If you're not seeing this option, it's likely that you are outside the United States. Investing using your bank account is only available to people with an account at a U.S. bank or credit union.
Please also note that many more of your questions may be answered within the comprehensive, searchable Netcapital Help Center
Ask a Question
Proofread your comment before submitting: once it's posted, you can’t edit or delete it. Investors are advised to review our Discussion Board Policy before submitting a comment. For the fastest help with the web site, email help@netcapital.com instead of commenting.
Looking to raise capital?
We can help turn your friends, family and customers into investors.
Interested in more investment opportunities?
Browse all offerings currently available.