New Investment Notice and 2017 Shareholder Meeting Link

Nov 3, 2017

In conjunction with last week’s annual shareholder meeting, Sol Boards Inc announced it will be reopening its 506C capital raise and will complete its $1M financing round. The Company's campaign page at Start Engine has been updated (including the posting of 2016 and year to date 2017 Income Statement and Balance Sheet plus update projections through 2021), and is again accepting investments at $1.25 per share. The company has also announced plans to complete a Title IV offering next year to raise $3.2M, at an offering price of $2.05 a share. The current 506(c) offering may become quickly over-subscribed and Investments will be accepted on a first-in basis. The company has already raised approximately $650,000 from this 506C offering, and is accepting only an additional $350,000 of investment at the current $1.25 per share price.

For anyone who would like to listen to a recording of the Company’s 2016 Shareholder meeting and view the corresponding presentation materials, the link is provided below. Separate links are also provided for the shared videos.

Sol Boards Inc. 2016 Shareholder Meeting - https://fccdl.in/qLcyobpEU

27M Viral Video -  https://www.facebook.com/ThisIsBrainy/videos/1742969555984250/

ResortBoard Video - https://www.youtube.com/watch?v=ehv759TuOEA

Testimonial Video - https://www.youtube.com/watch?v=cf-TjdU9kTM&t=24s

GolfBoard 506(c) Offering Extended Through Friday, April 7th

March 2017

To ensure our 506(c) offering is fully subscribed, the closing date has been move 1 week to Friday April 7th. This will allow investors 7 more days to purchase Sol Boards stock at the current price of only $1.25 per share. The Company anticipates the recent announcement of its $1M+ financing agreement with Golf Capital Group to fund up to 300 more company owned trial boards in 2017 (plus even more in subsequent years) will result in the over subscription of this offering. With over $650K already commitment of $1M of availability, interest investors should subscribe quickly before this offering sells out.    


March 2017

Sol Boards, Inc. of Bend, Oregon, has entered into a long-term financing agreement with Golf Capital Group (GCG) of Oklahoma City, Oklahoma, to fund the rapid expansion of the Company’s managed fleet rental program. Through its new relationship with GCG, Sol Boards will significantly increase the size of its company-owned demo fleet from approximately 100 boards today to as many as 400 boards by year-end 2017.

GolfBoard has already deployed over 2,000 boards to over 250 courses worldwide. Many of these courses initially participate in a 60-day GolfBoard trial prior to making the decision to lease or purchase. Consequently, this potential 300% increase in company owned trial boards is expected to substantially increase the volume of follow-on purchases in the years ahead.

This new rental fleet financing agreement with GCG will also help accelerate the rapid adoption of the company’s new ResortBoard offering. By leveraging GolfBoard’s proprietary technology, the company expects to quickly penetrate the $15BN worldwide electric scooter marketplace.

The massive size of this adjacent market creates the potential for popularity of the Company’s new ResortBoard offering to eventually exceed its already highly successful GolfBoard.

“This multi-year financing agreement with Golf Capital Group will enable the company to accelerate an important growth engine by allowing significantly more golf courses and resorts to try our popular new offering,” said John Wildman, GolfBoard Chairman and CEO. “Our company’s growing demo fleet will also provide high-margin recurring revenue, which we expect to contribute millions of dollars to the company’s bottom line over the next few years.”

As part of this financing agreement, Golf Capital Group has the non-exclusive rights to develop ResortBoard rental centers throughout the southeast US. These “Surf the Earth” shops in Oklahoma, Texas, Florida, and other southeast states will provide a valuable brick and mortar footprint, as well as further accelerate the company’s rapid growth.

Sol Boards, Inc. is now completing a second-round equity capital raise through its ongoing 506(c) offering which is being extended through Friday, April 7, 2017. The company has already raised approximately $1.6M so far this year, and anticipates reaching $2M by the close of the current offering.

For information on how to become a Sol Boards, Inc. shareholder and support the expansion of its revolutionary GolfBoard offering, as well as a global transformation in personal transportation, go to the company’s fundraising campaign page at https://www.startengine.com/startup/golfboard-2 .

About GolfBoard

Conceived by Bally Total Fitness Founder Don Wildman, and legendary big wave surfer Laird Hamilton, GolfBoarding is an entirely new way to experience the game of golf. The four-wheel drive, lithium ion powered electric board allows users to turn by simply transferring their body weight as if they were surfing or snowboarding. GolfBoards are highly durable and built with a safety-first mantra and are now available  in the US, Canada, Mexico, United Kingdom, United Arab Emirates, Spain and Indonesia, with distributors in Switzerland and Australia.

About Golf Capital Group

The newly formed Golf Capital Group is committed to supporting high-growth-potential companies in the golf marketplace. With extensive experience providing seed capital and asset-based loans in other industries, the senior management team at Golf Capital Group is directing their talents and resources to mentor innovative product offerings that will enhance the game of golf.

Business Update to All Current and Potential Investors

March 2017

Dear Sol Boards Investor

With the unaudited 2016 financials now available, and with Q1 2017 about to come to a close, we wanted to provide a business update to all current and potential investors, including some general financial performance metrics from Sol Boards’ CFO, Ali Fakhari.

As detailed below, operating results are in line with our internal projections, and with the assistance of our experienced executive team including Ali,  James Williams (Chief Strategy Officer), and Jeff Dowell (President), the company is making strong traction in its capital raise activities. After a successful, and over-subscribed, Title III campaign that raised $1M in January of this year, the company is now in the middle of a 506(c) offering which is open to accredited investors. Please share the link below with colleagues and fans who would like learn more about this round of financing and our company's growth.


Sol Boards continues to expand in order to meet the needs of our core golf business and penetrate new and large adjacent non-golf market opportunities. While GolfBoard has now proven its ability to capture meaningful market share of the $500M worldwide golf vehicle marketplace, we feel our unique product offering is ideally positioned to quickly penetrate the $15B global electric scooter market. With that in mind, we have made some recent organizational changes:

1) Sol Boards’ President, Jeff Dowell, will be assuming all responsibility for GolfBoard Sales with direct oversight of all GolfBoard Territory Managers. Jeff will be focused on growing our domestic and international golf business, capitalizing on the large order backlog that was created by major golf industry trade shows in Q1.

2) So that Jeff Dowell (and our Territory Manger team) is free to focus on maximizing golf sales, we have entered into a service agreement with Microcast Technologies (via MTC's COO, Dean Fuschetti) to provide most all service labor and parts. Given the MTC Team’s intimate familiarity with our product offerings, and large preexisting service parts inventory, they are ideally positioned to provide improved quality of service while controlling costs.

3) In collaboration with our CSO, James Williams, I will head-up new business development for our non-golf verticals, creating the foundation for our non-golf business, including our recently launched ResortBoard offering. Important to the success of these efforts will be the immediate creation of ResortBoard marketing and operational support materials, as well as establishing critical beta test sites to identify best practices and prove the potential for a high return on investment.

We hope you will take time to review the extensive information provided at our 506(c) campaign page, as well as share the investment link with others who may be interested. The company has maintained our pre-money valuation of $9M for this 506(c) fundraising round, and our goal is to increase our valuation to ~$20M by year end, and over ~$100M by 2020. As such, the purchase of Sol Boards shares today has the potential for growing returns.

Below are a few highlights of our unaudited 2016 financial performance:

  • Sol Boards is on track with our projections for fiscal 2016:
    • Revenue - Achieved $4.5M in board sales, and another $250K in other revenues (e.g., service, rentals, etc.), thereby meeting our $4.7M revenue target for 2016
    • Costs - managed our cost of goods sold (COGS) to a total of $3.5M, again consistent with our production cost estimates and projections.
    • Income - Net income was -$1.25M, compared with our budgeted net income of -$1.07M, primarily driven by a difference in income tax expense and other miscellaneous expenses compared to budget.
  • Sol Boards’ goal for 2017 is to achieve $12M in sales with nearly break-even net income of -$200K.
    • Q1 sales - tremendous progress taking nearly $2M in orders at the January 2017 PGA Show in Orlando, and projecting GolfBoard sales volume of over double the prior year.
    • Resort Board launch – now developing plans to further supplement our GolfBoard offerings and target high-potential adjacent markets. Resort rentals will provide recurring cash flow.

If you have any questions, please feel free to contact our team, and we will follow-up with responses to all current and prospective investors by communicating through additional updates at our StartEngine campaign page.


John Wildman, Chairman & CEO

Financial Projections Updated & Sol Boards Sr. Management Announces Intent to Purchase Additional Stock through This Offering

March 2017

Please be aware that Sol Boards Inc. has recently updated its campaign page to include Financial Projections through 2020. You will see that our Company projects to increase revenue from approximately $3,300,000 in 2015 and $4,750,000 in 2016, to $12,250,000 in 2017.  We encourage you to look at this additional information when making an investment decision. 

Investors should also take notice that Sol Boards Inc. now has over with over $350,000 of funds subscribed through this offering, and that our Senior Management Team intends to make an additional investment of approximately $200,000 to purchase 160,000 shares of Class B stock as part of this offering. Additionally, we recently received several inquiries and questions  (see responses below) from accredited investors looking to subscribe to this offering before it closes Friday, March 31st.  

The company is proud to report that in addition to exceeding its 2016 revenue target, it is well on the way to having record first quarter sales, projecting GolfBoard sales volume of over double the prior year. Additionally, in Q1 we have started fulfilling our first ResortBoard orders, with strong positive consumer reaction (http://www.golfboard.com/resortboard/).

We are increasingly confident that our “non-golf” board offerings will provide a highly profitable growth engine for the company. The funds raised from this current offering will greatly help support the global expansion of our new product offerings.

Once again, please take time to review the newly posted Financial Projections, as well the responses to recent investor inquires provided below.

Thank you

John Wildman, CEO

Do you expect to reach the $1,000,000 offering by March 31, 2017? If you do not will you extend the time frame? When did this offering begin? 

The $1M 506-c round was launched on the StartEngine portal as of Friday, February 24th 2017 – this offering is currently schedule to end March 31st , but can be extend at our sole discretion. We recently updated our offering exhibits to include Financial Projections though 2020, so we may extend the offering a few days in order to allow current and new investors more time to review this additional information.

If you end up not meeting the $1m mark what is the company’s outlook on viability having raised the $272k so far?

The purpose of this 506-c offering round was to enable accredited investors who had oversubscribed to our successful $1M Title III capital raise to invest in GolfBoard at the same terms ($1.25/share). The company’s financial viability is not dependent on fully subscribing this follow-on 506-c raise (please reference our disclosures and financial documents)

What is your retention rate of clubs that use GolfBoard on a trial basis? Do they often purchase/lease more if they do keep them? Are any planning to get more? 

Generally, 40% of course that test GolfBoards under our 2 month trial program will opt to keep their boards or order a GolfBoard fleet for the following season. We anticipate many of the remainder will going forward choose to take advantage of our newly offered seasonal rental program (which was not available until this January).

Many courses start with a 4 board offering and then grow their offering to 8 or 12 boards (or more). We now have over 16 locations that have grown their fleets to 12+ boards (some over 30), with many more course offering the typical 8 GolfBoard package.

With our “Showcase Course” program, those courses with 12 or more boards receive preferential placement at http://www.golfboard.com/coursenetwork/. This incentive does result in “follow-on orders” from course who want to better leverage 2,000 to 3,000 daily visitors to our website looking for “where To Ride”.