Andrew Witkin Trikke – How did he play his role in Crowdfunding? Truth Exposed
Andrew Witkin Trikke is a tech entrepreneur. However, he has received multiple complaints online alleging that he ran a crowdfunding scam. Learn more below:
Andrew Witkin Trikke- About Trikke Tech Inc.
Trikke Tech Inc. is a C Corporation incorporated on February 16, 2000, under the laws of California. The company is a distributor, retailer, and wholesaler of Trikke 3-wheeled carving vehicles.
Trikke Tech Inc. manufactures the world’s best-performing personal mobility cars, which are driving the transition to electric transportation. This multi-terrain, highly configurable vehicle is built and assembled in the United States, with unique designs ideal for commuting, fitness activities, tourism, security, business operations, and many other applications. Police agencies, colleges and universities, federal and state governments, hotels, malls, airports, ports, and private defense businesses are among Trikke’s many expanding clients. Each has come to rely on Trikke’s personal mobility vehicles for the highest level of dependability, power, and environmental effect.
Andrew Witkin Trikke- About the Founder
Gildo Beleski is the founder, Chief Executive Officer, Chief Technology Officer, Treasurer, and Director of Trikke Tech. He is the Founder, Designer, and Originator of the Trikke Technology. Gildo Beleski has worked for the company since its beginning in 2000. He has been a Trikke rider for almost 20 years and is a technical director, industrial engineer, and automobile racing enthusiast.
Andrew Witkin Trikke – Raised an offer of up to $1,000,000 of crown notes from the company
Trikke Tech Inc. is selling up to $1,000,000 in company Crowd Notes. The “Target Amount” is the minimum target amount under this Regulation CF offering. This offering is being made using best efforts, and Andrew Witkin Trikke must meet its target amount of $25,000 before August 7, 2017. Andrew Witkin Trikke is conducting concurrent offers under Regulations CF and D (the “Combined Offerings”). Unless Andrew Witkin Trikke raises at least $25,000 under the Regulation CF offering and a total of $200,000 under the Combined Offerings (the “Closing Amount”) by August 7, 2017, no securities will be sold in this offering, investment commitments will be canceled, and committed funds will be returned.
Oversubscriptions over the Target Amount up to $1,000,000 (the “Maximum Amount”) will be accepted on a first-come, first-served basis. If the company reaches its Closing Amount before August 7, 2017, it may undertake the first of several closings, provided that the offering has been advertised for 21 days and that investors who have committed funds are notified five business days before the close.
A crowdfunding investment entails some risk. You should not invest any money in this offering unless you can afford to lose it all. Investors must rely on their investigation of the issuer and the terms of the offering, including the merits and risks associated when making an investment choice. No federal or state securities commission or regulatory authority has recommended or approved these securities. Furthermore, these authorities have not ruled on the document’s accuracy or sufficiency.
The Securities and Exchange Commission of the United States does not determine the merits of any securities offered or the terms of the offering, nor does it determine the accuracy or completeness of any offering document or literature.
These securities are offered under a registration exemption; nevertheless, the US Securities and Exchange Commission has not made an independent conclusion that these securities are exempt from registration.
This disclosure document contains forward-looking statements and facts about the company, its business plan and strategy, and its industry, among other things. These forward-looking statements are based on Andrew Witkin Trikke’s management’s opinions, assumptions, and information currently available to them. The words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect”, and similar phrases are intended to identify forward-looking statements throughout this disclosure document and the firm offering materials. These statements reflect management’s current expectations of future events and are subject to risks and uncertainties that might cause Andrew Witkin Trikke’s actual results to differ materially from those in the forward-looking statements.
Andrew Witkin Trikke- What is crowdfunding?
Crowdfunding is a method of financing your business by swapping money for prizes or shares in your company. This is usually done through a crowdfunding website.
To begin, create a campaign on the website for your company concept. People can then contribute money to your campaign to help you reach your goal. On certain platforms, you may set a goal for how much money you need and when you want to attain it.
Andrew Witkin Trikke – What is investment crowdfunding?
Investment crowdfunding is a method of raising funds for a company by asking a large number of backers to individually invest a small amount in it. Backers obtain stock shares in the company in exchange. Investment crowdfunding allows businesses to raise capital by asking a large number of backers to individually invest a small amount. This sort of crowdfunding is typically only available to accredited investors. It is a method of lowering the entry barriers for private investors.
While crowdfunding can be a great way to raise money for your small business, there are also some potential disadvantages to consider.
- One of the most significant hazards of crowdfunding is not meeting your financial target. This is especially disheartening if you have already spent a significant amount of time and money publicizing your campaign.
- To be successful, you must devote time to advertising your crowdfunding campaign. This can consume time that could be spent on other elements of your business.
- You may need to give rewards to encourage people to donate to your campaign. These incentives can be costly, and they may not always be in line with your company’s objectives.
- Even if you meet your financial target, there is no assurance that your company will succeed. Crowdfunding is not an investment, and donors are not necessarily interested in seeing your business succeed.
- You may lose some control over your firm if you raise funds through crowdfunding. Investors may desire a role in how your company is run and may expect a return on their investment.
- You may lose some control over your firm if you raise funds through crowdfunding. Investors may desire a role in how your company is run and may expect a return on their investment.
Andrew Witkin Trikke – Risks involved with Crowdfunding
We are selling convertible notes that, in certain situations, will convert into shares or result in payment. These notes have no maturity date and can only be converted or paid in certain situations. If a merger, acquisition, or other corporate transaction occurs before a qualified equity offering, investors will get the larger of two times their purchase price or the number of preferred shares they could have purchased under the valuation cap.
We have not calculated the tax consequences of using the Crowd Note. The Crowd Note is a sort of debt security with no fixed maturity date. As a result, there has been inconsistency in state and federal tax law on whether instruments such as the Crowd Note are regarded as a company’s debt or issuance of equity. Investors should speak with their tax professionals.
Any valuation at this point is difficult to determine. Unlike publicly traded companies, which are valued publicly through market-driven stock prices, the valuation of private companies, particularly startups, is difficult to judge, and you may end up overpaying for your investment.
The Crowd Note contains dispute resolution provisions that limit your ability to bring a class action lawsuit or seek remedy on a class basis
You may have restricted options. As a Regulation CF investor, you will be considered a non-Major Investor under the terms of the notes offered, which means you will have more limited information rights and will not have the right to automatically participate in future offerings, and thus will not have the same anti-dilution protections as Major Investors.
You will be bound by an investment management agreement, which limits your voting rights.
You can’t easily resell the securities.
Andrew Witkin Trikke- Risks Relating to the Company and its Business
- In the evaluated financials, the reviewing CPA included a “going concern” notation.
- As of December 31, 2016, the corporation has deferred payment of $105,422.
- We have borrowed substantial sums from connected and third parties.
- Our management team is small.
- We have several competitors.
- The company holds two US patents, one European patent, and one Chinese patent.
- Uncertainty about US trade policy may limit our manufacturing options and increase our costs.
- Rapidly changing technology, growing industry standards, constant modifications to existing treatments and products, the launch of new services and goods, and changing client expectations describe the potential markets for our products.
Conclusion
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