Peak Skis Investment opportunity

[ctsnowplow]

Oh c’mon, the filing values the company at $36 million. Surely you can’t be suggesting that this whole shebang is yet another Bode et al scam! When more than half of a startup’s initial financing disappears into G&A in less than one year, one doesn’t need to be a forensic accounting genius to figure out what is going on.

And a $36m valuation is a joke. No way should anyone pay 10x sales for a ski company.

 

[Wasatchman]

@HardDaysNight @ctsnowplow


i don't disagree with the sentiment although I don't think the filings refer to the actual valuation as $36 million. I think what it refers to is if by some miracle a triggering event happens then the formula for the payout for this offering is capped at a valuation of $36 million for the company. So if they IPO at more than $36 million values for the company then there is no more upside to the payout formula of the offering. Note that was my initial understanding of it, but to be certain I am correctly interpreting it I would have to spend more time going through it all.

 

[SBrown]

I just read the first few dozen pages of this thread.

 

[MissySki]

Maybe the crowd sourced $$ are for inventory lol That said their financials are radioactive, and I am not sure their sales constitute a "high growth company". Now all that being said and done this could make for an interesting episode of SharkTank and what is crazy is that they might even get a deal there lol

Not a chance imo! Lol Reading this thread, all I was thinking the whole time is about the questions a shark would ask about their financials.. and what the response would be to their multitude of huge red flags and bad decisions. They would be ripped apart!

 

[HardDaysNight]

@HardDaysNight @ctsnowplow


i don't disagree with the sentiment although I don't think the filings refer to the actual valuation as $36 million. I think what it refers to is if by some miracle a triggering event happens then the formula for the payout for this offering is capped at a valuation of $36 million for the company. So if they IPO at more than $36 million values for the company then there is no more upside to the payout formula of the offering. Note that was my initial understanding of it, but to be certain I am correctly interpreting it I would have to spend more time going through it al l

The payout formula (in the incredibly unlikely event that any such payout actually occurs) in effect sets the post money valuation at $36 million. The previous post money value (after the initial $8 million take) was purported to be $21 million. So after a year of operations in which the company blew through all the cash (largely on G&A) we are presented with a step up of $15 million (or just over 70%). What a deal!

 

[MikeHunt]

Man it's tough being a single digit millionaire trying to be a double digit millionaire.

What's the plan B when you lose the single digit millions you spent decades of your youth trying to earn?

For us normies with a few bucks, the dream of breaking the hundreds of thousands to million mark gives us hope. But for the millionaire to go back down to our level because of tough business environment, I think it's devastating.

 

[MikeHunt]

Internet says Bode is worth 8 to 12, so he's ways away from dropping back down to our level.

 

[Wasatchman]

Internet says Bode is worth 8 to 12, so he's ways away from dropping back down to our level.

Peak spent $3.9 million of G&A in the last year. I'm pretty sure Bode's net worth is increasing not decreasing. In contrast, R&D expense last year was $56k hahahaha

 

[fatbob]

Sorry not the case, if you look at our history, we have defended any brand that we feel that they are defamed based on opinion and not actual fact.

No one on this thread is "defaming" them based on opinion. They are using the data in the company's own published information to say this is a donation not an investment and draw their own conclusions on how much runway the business has. They are getting month to month cashflow financing from Shopify even.

It's obviously a "win" for Bode and Wirth that the name can still bring in "dumb money" but the pitch video is pretty shameful given what the financials say.

Their own words say that there are serious going concern risks that they intend to fix with a strategy of growing revenues and crowdfunding with absolutely no specificity on how they intend to grow revenues.

Maybe they still believe they've got it. To me they just look like another Coreupt.

 

[ctsnowplow]

The payout formula (in the incredibly unlikely event that any such payout actually occurs) in effect sets the post money valuation at $36 million. The previous post money value (after the initial $8 million take) was purported to be $21 million. So after a year of operations in which the company blew through all the cash (largely on G&A) we are presented with a step up of $15 million (or just over 70%). What a deal!

As I have said above, these guys are an absolute joke and a classic case of what NOT to do when running a company. This is not the first failed venture by these guys and with the current cash grab, it certainly wont be the last. I just feel bad for everyone who actually are funding without reading any of the paperwork. Dumb money for sure.

 

[ctsnowplow]

Peak spent $3.9 million of G&A in the last year. I'm pretty sure Bode's net worth is increasing not decreasing. In contrast, R&D expense last year was $56k hahahaha

And clearly he has zero interest in funding the next round of growth. It's a huge red flag that he and Andy do not want to double down on the venture. Any smart potential investor would ask "whats the current Board putting in" In this case, it seems to be nothing. Walk away.

 

[Carl]

Well, I suppose I can sell two shares of NVIDIA stock to take the plunge. On second thought, I think I'll pass.

 

[HardDaysNight]

Walk away.

No, run!

 

[dovski]

Ok this thread is taken a dark turn, and I would caution everyone not to make assumptions about Peak Skis actual intent. Yes based on the facts we can agree this company is not in good financial shape and the proposed Crowd Funding offer is not a great investment. We also can clearly see that even if 100% successful this fundraising effort will not cover all of their debt. Beyond that we do not know how they will actually use these funds and are making a lot of negative assumptions. We also do not know what they are doing privately to raise funds. Perhaps they do have a private equity investment that is triggered if they raise $1M through other sources .... who knows. I would hope that they use these funds to stay afloat through this season and to give their company a fighting chance at survival. To be clear I think they are in a high risk situation given their current financials and the economy. While I wish them well, I will not be investing in this offer, and as you can tell from my previous posts do not think this is good or well positioned investment.

To be clear starting a business is not easy, and making a new venture successful is even harder. As @Philpug mentioned starting a ski company has its own unique set of challenges ... in fact it might be interesting to have a panel discussion of founders (thinking J Skis, Renoun and Peak) all talking about this. So while we do not have to like or endorse this "investment opportunity", lets try not to assume to much about the motivation of the Peak Skis or its founders as they clearly are in a difficult position. Oh and whatever you do please do not encourage @fatbob to go on about his Jelly Wrestling days .... nobody needs to hear anymore about that lol

 

[dbostedo]

I only have one question out of all of this... when anyone in this thread has written "jelly", did you mean this?



Or this?

 

[dovski]

I only have one question out of all of this... when anyone in this thread has written "jelly", did you mean this?

View attachment 216202

Or this?

View attachment 216201

I believe that Jelly is the way the British say Jello ... so have to assume that is what is being referred to .... though @fatbob is our SkiTalk expert on this subject

 

[ctsnowplow]

Ok this thread is taken a dark turn, and I would caution everyone not to make assumptions about Peak Skis actual intent. Yes based on the facts we can agree this company is not in good financial shape and the proposed Crowd Funding offer is not a great investment. We also can clearly see that even if 100% successful this fundraising effort will not cover all of their debt. Beyond that we do not know how they will actually use these funds and are making a lot of negative assumptions. We also do not know what they are doing privately to raise funds. Perhaps they do have a private equity investment that is triggered if they raise $1M through other sources .... who knows. I would hope that they use these funds to stay afloat through this season and to give their company a fighting chance at survival. To be clear I think they are in a high risk situation given their current financials and the economy. While I wish them well, I will not be investing in this offer, and as you can tell from my previous posts do not think this is good or well positioned investment.

To be clear starting a business is not easy, and making a new venture successful is even harder. As @Philpug mentioned starting a ski company has its own unique set of challenges ... in fact it might be interesting to have a panel discussion of founders (thinking J Skis, Renoun and Peak) all talking about this. So while we do not have to like or endorse this "investment opportunity", lets try not to assume to much about the motivation of the Peak Skis or its founders as they clearly are in a difficult position. Oh and whatever you do please do not encourage @fatbob to go on about his Jelly Wrestling days .... nobody needs to hear anymore about that lol

J skis seems pretty healthy as he keeps his overhead low. The office is small, skeleton staff and clearly is profitable or close to profitable. Entrepreneurs need to keep things lean in order to create value in today's market. Fake it till ya make it does not work anymore with investors. J Skis has the same great reviews and large audience but certainly did not spend $6M in their first year.

 

[dbostedo]

I believe that Jelly is the way the British say Jello

I realize that, and was wondering if people were using it to mean both, depending on where they are from.

 

[Philpug]

J skis seems pretty healthy as he keeps his overhead low. The office is small, skeleton staff and clearly is profitable or close to profitable. Entrepreneurs need to keep things lean in order to create value in today's market. Fake it till ya make it does not work anymore with investors. J Skis has the same great reviews and large audience but certainly did not spend $6M in their first year.

Jason is the model in the DTC ski world, he might not have invented it but he sure perfected it.

 

[dovski]

I realize that, and was wondering if people were using it to mean both, depending on where they are from.

Well I don't think @fatbob is British (based on his spelling and grammar) though I am making an assumption here lol So perhaps @fatbob is pioneering a new sport along with his crypto startup lol