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Machine LearningHardwareInternet of ThingsMenlo Park

Invest in Glance Tech

A leading smart home clock for all of your connected devices

Glance Tech is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, the contents of the Highlights, Term Sheet sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Glance Tech without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures. The contents below are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.


Smart Home market

$24.1 billion

Units Ordered

4,400+

  • Raised $450,000+ on Indiegogo
  • Over $1 million in signed distribution LOIs from international buyers
  • Indiegogo campaign hit the target of $50,000 in 1 hour
  • MSRP: $199; Projected product margin: 40%
  • Close date:  
  • Indicated Interest:  
  • Raise Description:  Seed
  • Minimum Investment:  US $500 per investor
  • Security Type:  Preferred Equity
  • Pre-Money Valuation:  US $5,000,000
  • Offering Type:   Side by Side Offering

Glance contextually shows only the right information from your Mobile Apps exactly at the moment you need to pay attention to it. It makes notifications and quick updates valuable and nondisruptive.


Glance Tech has developed Glance clock, the glanceable interface that is connected to your Mobile Apps and internet accounts and shows the right information in an incredibly easy-to-understand format. Glance clock is a gorgeously designed timepiece that sets the time automatically and serves as an appointment reminder, weather reporter, and a lot more, all at the right moment. It helps you to stay focused on things that you love to do and keeps you updated on your digital life events. Behind the clock, there is a cloud platform that gathers data from services that you use. The Glance cloud contextually analyses data using machine learning to understand which information should be displayed on Glance clock and when. That makes your notifications nondisruptive and well-curated.

Initial Success

Glance clock was introduced to the market at TechCrunch Hardware Battlefield – CES'16 in Las Vegas. The product has been presented all across the globe, including China (Shanghai, Hong Kong), Singapore, the US, and parts of Europe. Such exposure helped to create a community of 25,000 people who supported the product during its crowdfunding campaign on Indiegogo in mid-September of 2016. The launch was a phenomenal success, and the company hit the goal of $50,000 in the first 24 minutes and reached 800% of the target within 45 days. Glance clock was pre-ordered by almost 4,000 people, which raised the company $468,000 during the Indigogo campaign. After the incredible launch on Indiegogo, the team signed 26 letters of intent with the international buyers who have indicated their interest in purchasing more than 11,000 units. In total, the company received $490,000 in pre-orders, and buyers soft committed $1 million.

Media and Customers impressions 

"The clever invention that  helps you reduce smartphone use." - The Economic Times

"Its clean appearance will be welcome both in your home and office." - Uncreate

"iBeacon mode works like a charm." -  Xander Hoose. Glance customer

"Great idea, precise and best execution resulted into an excellent product." -  Nick Desh. Glance customer

"thank you very much for your EXCELLENT service" -  Lawrie Kemp. Glance customer

"The Glcok is awesome although a bit lacking in apps etc. No issues at all an the App Updates always are clean and without problems."  -  Fernando A. Peres. Glance customer

" It is refreshing to find a company that follows up on product to make sure everything is ok! The clock is working great " -  Byron Johnson. Glance User

"I’m happy with the device! My wife and myself both have our phones connected to the glace."  -  Andrew Lawson. Glance customer 

Disclaimer: The above individuals were not compensated in exchange for their testimonials. In addition, their testimonials should not be construed as and/or considered investment advice.

Pitch Deck

Product & Service

Glance is a smart clock that reminds you about appointments on your calendar, tells the weather, notifies you when your UBER has arrived, and other things that matter to you only at the moment you need this information. Unlike notifications on smartphones or smartwatches, notifications on the Glance clock don't require any further action; they are passive. Information on Glance clock makes you aware of events that happen in your digital life without disrupting you from current tasks. With Glance clock, voice assistants, such as Amazon Alexa and Google Home, finally have a face. You can ask Alexa to set a timer and instantly see it on the Glance clock face. It's much more natural to see information rather than just hear it.

The Glance clock's simple interface is so intuitive, it is understandable for people with special needs such as autism, ADHD, deafness, and other disorders. Glance clock can remind elders to take a medication and not forget about a doctor's appointment.

In the business environment, Glance clock serves as a place manager by delivering messages to a group of people about the important events related to a place, a group, or an individual. It can remind them about a project group meeting time, about a birthday or professional achievement of a particular person, about a company achievement, and much more. At the same time, Glance clock is a beautiful clock that tells time.

Technology

The technology that Glance Tech is creating is disrupting the 200-year-old wall clock industry and pioneering the trend of intelligent information filtering and glanceable form of information representation.

The Glance cloud gathers data from different sources that a user uses, such as mobile apps and Web services, and analyses the data contextually. With that done, the Glance cloud can understand which information should be displayed on the Glance clock screen and when. For example, the system can see that the user has a calendar appointment and block all notifications until the meeting is over, at which time the Glance clock will relate all the important things that have happened during the meeting. The information that is delivered at the appropriate moment is valuable and nondisruptive.

Partnerships

Glance clock is a product that traditional clock manufacturers have been looking for for years. One of Glance Tech's key partners of is Dutch clock manufacturer NeXtime. The company has 50 years' experience developing, manufacturing, and selling wall clocks and is an established brand in Europe, India, China, and Japan. NeXtime is interested in manufacturing the current Glance clock model, co-developing the next model, and distributing Glance clocks through their existing sales channels. This partnership is beneficial for both parties. Glance Tech will focus on developing the software part of the product (the cloud platform and glanceable user interfaces) while NeXtime manufactures and distributes the hardware part of the product.

Business model

Glance clock's retail price is US$199. The product margin allows us to sell Glance clocks through e-commerce and retail channels at a good profit. Next year, we will release a subscription service. Customers who use multiple services and who would like to get smart notifications will need to pay a subscription of US$1 per service per month.

The other part of our business is B2B. For companies, we are offering a solution to manage meeting rooms. Glance clock can be connected to meeting rooms' booking software. When a group comes to a reserved meeting room, Glance clock on the wall will show the name of the person who has reserved the room and the duration of the meeting. When the meeting comes close to the end, Glance clock will gently notify the group in the room that it is time to wrap up the session. Glance clock can display essential information for project groups, such as project completion progress. In the sales department, Glance clock can show the daily sales volume for a particular sales agent in real time.

Competitive Edge

There are several companies that have a similar approach. One is LaMetric, a WiFi speaker with a ticker that shows information as text, which is not easy to read and understand at a glance. Bonjour, a smart alarm clock that has a tiny display, is hardly readable from a distance. Bonjour targets bedrooms. Our customers see Glance clock in the office and living room first. We also count smart mirrors as a device delivering nearly the same value, but they have a limited form factor, and they are very expensive.

A new type of smart speakers came to the market lately, such as Amazon Echo Show, and Spot. These are voice-enabled screens that can render a picture to show the information you've asked. The difference between the Glance system and Amazon products is in user experience and actionable notifications. Amazon's key focus is to increase the number of Amazon-Prime shoppers and sell more on Amazon.com when the Glance's focus is to simplify the way people get notifications and sell smart data services. Amazon's devices are small and designed to be on a desk or table; Glance has a big, bright display that is visible from a distance. Glance clock has a simple, glanceable interface that appears in the same place and at the same time Amazon devices provide a lot of information, like on your phone's screen.

Media Mentions

Team Story

Glance Tech was incorporated in 2014 with the idea to bring the convenience of using technology to average consumers. Through a year of technology and customer development, the team learned that there were so much complexity and frustration in the way people communicate with digital information. That's where the journey of Glance Tech started.

In February 2015, the founder and CEO Anton Zriashchev made the company pivot to focus on the interfaces that people will use to stay connected and be aware of everything that occurs in their digital lives. By looking through the problem of information overload, procrastination, and productivity losses, Glance Tech's team came up with the idea that then enchanted a familiar object: a wall clock.

At the beginning, the team had just three members. Anton, Alex, and Stas were university friends and had already been working together for ten years. They started as an electronics design studio and grew to a company that could handle its own product development and manufacturing. Alexey joined the team later in 2016 after the Indiegogo campaign. He instantly became a part of the team with deep involvement in product development and business operations. Since the product launch in 2016, the team grew from five to ten people and is looking forward, attracting more talented people who have the same passion and love for beautiful products and simple solutions. 

Company Mission

At Glance Tech, we help people avoid data overload by only showing them their essential information at the right moment. We are doing this using smart and connected technologies and applying them to products with simple, forward-thinking designs.

Founders and Officers

Anton Zriashchev

CEO & founder

Anton Z. is an experienced entrepreneur with a keen interest in electronics, industrial design, and technology. He is the founder and CEO of Glance Tech, where his example-driven leadership shapes the atmosphere. He holds three degrees in electronic engineering, math economics, and management & leadership; all of these were received with honors at different stages in his career. He started his first business at the age of 20 and sold the hardware design agency at a profit before launching Glance Tech. His passion for simplicity drives the development and forms the core culture of the team that is creating Glance products.

Anton loves cross-country skiing, surfing, trance music, and minimalistic things. He is always looking for the point of perfection to reach.

Alexey Dubov

COO & co-founder

Alexey D. is a cofounder and COO of Glance Tech. He leads the software development team and overall daily operations of the company. Alexey always thinks in a straightforward manner and executes plans without any doubts. He is passionate about structuring things and making sure that they are clearly explained and recorded. Prior to co-founding Glance Tech, Alexey led his own Software-hardware development firm in the area of human-centric electronics. He holds a BBA in Computer Science from Bauman University, one of the greatest universities in Russia.

He always finds a way to combine what he loves most—electronic music, sports, fishing, coding—with work. Alexey is calm from the outside but a hot engine of incredible ideas inside.

Anton Zriashchev

CEO & founder

Anton Z. is an experienced entrepreneur with a keen interest in electronics, industrial design, and technology. He is the founder and CEO of Glance Tech, where his example-driven leadership shapes the atmosphere. He holds three degrees in electronic engineering, math economics, and management & leadership; all of these were received with honors at different stages in his career. He started his first business at the age of 20 and sold the hardware design agency at a profit before launching Glance Tech. His passion for simplicity drives the development and forms the core culture of the team that is creating Glance products.

Anton loves cross-country skiing, surfing, trance music, and minimalistic things. He is always looking for the point of perfection to reach.

Alexey Dubov

COO & co-founder

Alexey D. is a cofounder and COO of Glance Tech. He leads the software development team and overall daily operations of the company. Alexey always thinks in a straightforward manner and executes plans without any doubts. He is passionate about structuring things and making sure that they are clearly explained and recorded. Prior to co-founding Glance Tech, Alexey led his own Software-hardware development firm in the area of human-centric electronics. He holds a BBA in Computer Science from Bauman University, one of the greatest universities in Russia.

He always finds a way to combine what he loves most—electronic music, sports, fishing, coding—with work. Alexey is calm from the outside but a hot engine of incredible ideas inside.

Key Team Members

Alex Potudinskiy

VP of Hardware & co-founder

Stas Gudkov

VP of Manufacturing & co-founder

Danil Vinogradov

PCB and Mechanical Designer

Constantin Tukmakov

Hardware System Architect

Peter Rusanov

iOS Developer

Pavel Malyshev

Backend Developer

Maksim Tverdikov

Cloud DevOps

Valentine Boyev

UI/UX

Anton Matenok

QA

Notable Advisors & Investors

Ruvento Ventures

Investor, Investing in IoT, robotics and emerging technologies across USA and Asia

HaxAsia

Investor, Hardware 2.0 accelerator program & investor

Q&A with the Founder

  • Please detail distribution and retail interest.
    Our first focus is fulfilling Glance Clock’s Indiegogo orders. In terms of retail, we started thinking about retail strategy more than a year ago and now have more than 200 names on our potential distributors’ and buyers’ list. These aren’t merely cold leads; we’ve met with all of them personally at conferences and elsewhere. Our go-to-market strategy is direct-to-consumer sales followed by e-commerce via platforms like Amazon and other, more specific platforms like Touch of Modern; after these two steps, we head to retailers and distributors. We’re planning on targeting the Asian region first because it’s easier for us in terms of time zone and our payment terms are more favorable locally; then, when we can support larger volumes, we’ll head to US retailers and other Western retailers.
  • Please detail your product integrations.
    Our key features include calendar integration with Google, iCal, and Outlook; and six weather channel sources to cover the globe. With IFTTT’s help, we’ve also started to integrate Alexa so it’s a more natural experience; you can talk to Alexa to control the clock. We also have an alarm clock, timers, data, call and caller ID integration, and an Uber integration (which was difficult to obtain).
  • Please detail your barriers to entry and competitive advantages.
    All of our value lies in the integrations, which take a lot of time to build out and figure out how to get right. A company that we’re scared about is Amazon, since they’re unpredictable in their product introductions and market moves. They have a lot of resources to copy our product, but we’re fairly confident they won’t because all of their products are focused on increasing Amazon sales; a smart clock wouldn’t necessarily drive sales in that way. Quite a few existing competitors have a product that is similar in concept. LaMetric produces customizable speakers with a smart interface, but they are difficult to read and are only equipped to show text. Glance can show both text and data at a glance. Bonjour is a French smart alarm clock, but we believe that the bedroom is an unpopular place for smart devices; based on our customer surveys, consumers want their smart interfaces elsewhere, with the bedroom being the fifth-most popular choice. Smart mirrors have an interesting concept but they are all at the prototype stage and are very limited in terms of size options; they are quite hard to place in a house interior and quite expensive because of the screen panel.
  • Please detail your strategy to scale post-raise.
    We will be mostly focused on B2B development, bringing our product to the B2B market and opening that new source of revenue, after that move into platform game.
  • Could you provide a breakdown of your full-time/part-time team?
    We have 10 full-time people on the team. In Signapore, we have Anton, Alex, and Azhar; Alex is mostly traveling. The rest of the team is composed of engineers in Russia. That’s how we manage our burn rate by keeping engineering costs low while getting great talent.
  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Side by Side Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.


    Terms & DescriptionRegulation D - Rule 506(c)Regulation CF
    Investor TypesAccredited OnlyAccredited and Non-accredited
    Round descriptionSeedSeed
    Round sizeUS $1,500,000US $1,500,000
    Offering capN/AUS $1,070,000
    Amount raisedUS $0US $16,731
    Minimum investment$20,000US $500
    Target minimumUS $250,000US $250,000
    Investment Management AgreementAll non-Major Purchasers will be subject to an Investment Management Agreement (“IMA”). The IMA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IMA included with Company's offering materials for additional details.All non-Major Purchasers will be subject to an Investment Management Agreement (“IMA”). The IMA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IMA included with Company's offering materials for additional details.
    Closing ConditionsThe Company is making concurrent offerings under both Regulation CF and Regulation D (the "Combined Offerings"). Unless the Company raises at least the Target Amount of $25,000 under the Regulation CF offering and a total of $250,000 under the Combined Offerings (the “Closing Amount”) by the offering end date no securities will be sold in this offering, investment commitments will be cancelled, and committed funds will be returned.The Company is making concurrent offerings under both Regulation CF and Regulation D (the "Combined Offerings"). Unless the Company raises at least the Target Amount of $25,000 under the Regulation CF offering and a total of $250,000 under the Combined Offerings (the “Closing Amount”) by the offering end date no securities will be sold in this offering, investment commitments will be cancelled, and committed funds will be returned.

    Investor Perks

    To participants contributing to the first $500k raised:

    30% off all Glance products, through 2018, plus free paid services forever, 

    To participants contributing to the first $1M raised:

    20% off all Glance products, through 2018

    All  investors will receive the following:

    Investor-only offers including exclusive events, sales, product and services launches, and the direct communication with founders.

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Prior Rounds

    The graph below illustrates the valuation cap or the pre-money valuation of Glance Tech's prior rounds by year.


    This chart does not represent guarantees of future valuation growth and/or declines.

    Angel

  • Round Size
    US $64,300
  • Close Date
    Jul 14, 2015
  • Security Type
    Common Equity
  • Pre-money Valuation
    US $425,000
  • Seed

  • Round Size
    US $188,000
  • Close Date
    Jul 19, 2017
  • Security Type
    Convertible Note
  • Valuation Cap
    US $5,000,000
  • Pre-Seed

  • Round Size
    US $325,000
  • Close Date
    May 28, 2016
  • Security Type
    Common Equity
  • Pre-money Valuation
    US $1,240,000
  • Financial Discussion

    Please see the financial information listed on the cover page of the Form C and attached to this profile in addition to the following information. Financial statements are attached to the Form C as Exhibit B.

    Operations

    The Company develops, markets, and sells the Glance Clock; a ‘smart’ clock that synchronizes with calendars, mobile phone, weather, and other third‐party applications, to provide alerts and updates throughout the day. The Company has not yet commenced principal operations, however, and intends to do so after the current round of financing. Upon sufficient financing, management intends to transfer shares of the Singapore Company to the Company, making it a wholly‐owned subsidiary of the Company. There is a risk that if sufficient financing is not received as part of the current capital raise, the commencement of principal operations may be delayed for a period of time, or indefinitely.

    Liquidity and Capital Resources

    The proceeds from the Combined Offerings are essential to our operations. We plan to use the proceeds as set forth above under "Use of Proceeds", which is an indispensable element of our business strategy. The Combined Offering proceeds will have a beneficial effect on our liquidity, as we currently have approximately $80,300 in cash on hand which will be augmented by the Combined Offering proceeds and used to execute our business strategy.

    The Company currently does not have any additional outside sources of capital other than the proceeds from the Combined Offerings.

    Capital Expenditures and Other Obligations

    The Company does not intend to make any material capital expenditures in the future.

    Trends and Uncertainties

    After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.

    The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached hereto as Exhibit B.

    Valuation

    Based on the Offering price of the Securities, the pre-Offering value ascribed to the Company is $5,000,000.

    Before making an investment decision, you should carefully consider this valuation and the factors used to reach such valuation. Such valuation may not be accurate and you are encouraged to determine your own independent value of the Company prior to investing.

    As discussed in "Dilution" below, the valuation will determine the amount by which the investor’s stake is diluted immediately upon investment. An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their "sweat equity" into the Company. When the Company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is immediately diluted because each share of the same type is worth the same amount, and you paid more for your shares (or the notes convertible into shares) than earlier investors did for theirs.

    There are several ways to value a company. None of them is perfect and all of them involve a certain amount of guesswork. The same method can produce a different valuation if used by a different person.

    Liquidation Value - The amount for which the assets of the Company can be sold, minus the liabilities owed, e.g., the assets of a bakery include the cake mixers, ingredients, baking tins, etc. The liabilities of a bakery include the cost of rent or mortgage on the bakery. However, this value does not reflect the potential value of a business, e.g. the value of the secret recipe. The value for most startups lies in their potential, as many early stage companies do not have many assets (they probably need to raise funds through a securities offering in order to purchase some equipment).

    Book Value - This is based on analysis of the Company’s financial statements, usually looking at the Company’s balance sheet as prepared by its accountants. However, the balance sheet only looks at costs (i.e. what was paid for the asset), and does not consider whether the asset has increased in value over time. In addition, some intangible assets, such as patents, trademarks or trade names, are very valuable but are not usually represented at their market value on the balance sheet.

    Earnings Approach - This is based on what the investor will pay (the present value) for what the investor expects to obtain in the future (the future return), taking into account inflation, the lost opportunity to participate in other investments, the risk of not receiving the return. However, predictions of the future are uncertain and valuation of future returns is a best guess.

    Different methods of valuation produce a different answer as to what your investment is worth. Typically liquidation value and book value will produce a lower valuation than the earnings approach. However, the earnings approach is also most likely to be risky as it is based on many assumptions about the future, while the liquidation value and book value are much more conservative.

    Future investors (including people seeking to acquire the Company) may value the Company differently. They may use a different valuation method, or different assumptions about the Company’s business and its market. Different valuations may mean that the value assigned to your investment changes. It frequently happens that when a large institutional investor such as a venture capitalist makes an investment in a company, it values the Company at a lower price than the initial investors did. If this happens, the value of the investment will go down.

    Market Landscape

    Forecast market size of the global smart home market from 2016 to 2022 (USD)

    https://www.statista.com/statistics/682204/global-smart-home-market-size/


    There are three forces that make the market hot right now:

    1. The social force — the productivity trend is rocking now, and almost every person is becoming deeply aware of how he or she spends time. Devices like the Glance clock help those people to focus on the things that matter and avoid being disrupted.

    2. The technology force — machine learning (ML) has become affordable and much easier to apply to many aspects of people's lives. While a human brain is struggling to manage big volumes of information, ML benefits can help to extract the right piece of information from unstructured data.

    3. The economic force — people are more willing to buy smart and connected products. The number of connected devices purchased in 2016 raised by 64% compared to 2015, and this year will double it. (https://www.cnbc.com/2017/01/04/why-2017-will-finally-be-the-year-of-the-smart-home-consumers-figure-it-out.html). Approximately 40% to 70% (depending on the source) of people are going to adopt some smart technology in the next two to three years. One of the most interesting smart device categories is a voice assistant, which in the Glance clock compliments a visual representation of information, making it much easier to understand.

    The market for connected devices shows that information from users' digital accounts was formed in 2015 and has demonstrated pretty sustainable growth since then. The big players like Amazon and Google recently released their devices with displays that show the information to users regardless of the phone. The concept of having information on stand-alone devices has just been proved by thousands of people.

    Risks and Disclosures

    The Company may be unable to protect its intellectual property adequately. The Company has no patents on its single product – the Glance Clock – and its previous application for a patent on this product was rejected. The Company has not at this time filed another application or any request to appeal the rejection, and any such filings are not guaranteed to result in any issued patents or patent protection. To the extent they do seek patent protection, any U.S. or other patents issued may not be sufficiently broad to protect its proprietary technologies. In addition, patents, even if granted, may be held invalid or unenforceable if challenged. Any intellectual enforcement efforts the Company seeks to undertake, including litigation, could be time-consuming and expensive and could divert management’s attention.

    The Company faces competition from other companies in the smart interface space. Existing companies that engage in the smart device business or are within the smart interface space could introduce new or enhance existing products. If the Company is able to establish a market around its product, it may find that larger, better funded companies may enter the market, which could negatively impact the Company’s growth.

    The Company may be unable to maintain, promote, and grow its brand through marketing and communications strategies. It may prove difficult for the Company to dramatically increase the number of customers that they serve or to establish itself as a well-known brand in the competitive smart device space. Additionally, the product may be in a market where customers will not have brand loyalty.

    The Company was originally formed as a foreign company, operating overseas and headquartered in Singapore, which may pose unknown risks. To the extent the Company continues operations overseas, it is subject to foreign laws and regulations regarding privacy, data protection, and other matters. Foreign data protection, privacy, and other laws and regulations are often more restrictive than those in the United States. These foreign laws and regulations are evolving and can be subject to significant change. In addition, the application and interpretation of these laws and regulations are often uncertain.

    The Company may not have accurately forecast demand for its product. The Company may need to start closing a significant number of customers in order to reach its sales goals. There is the risk that the Company will fail to execute on sales opportunities or not identify enough potential customers given its current success rate. The Company may struggle to convert its pipeline into paying customers. The Company may find it difficult to grow its business or to survive if its actual market is smaller than expected.

    Consumer goods, especially connected smart-home devices, are typically seasonal products, with a large percentage of their sales occurring during the November-December holiday season. This indicates that these products may be bought as gifts and are highly discretionary. The seasonality of the Company’s revenue and operations could additionally increase the Company’s current cash burn.

    We are subject to rapid technological change and dependence on new product development. Our industry is characterized by rapid and significant technological developments, frequent new product introductions and enhancements, continually evolving business expectations and swift changes. To compete effectively in such markets, we must continually improve and enhance its products and services and develop new technologies and services that incorporate technological advances, satisfy increasing customer expectations and compete effectively on the basis of performance and price. Our success will also depend substantially upon our ability to anticipate, and to adapt our products and services to our collaborative partner’s preferences. There can be no assurance that technological developments will not render some of our products and services obsolete, or that we will be able to respond with improved or new products, services, and technology that satisfy evolving customers’ expectations. Failure to acquire, develop or introduce new products, services, and enhancements in a timely manner could have an adverse effect on our business and results of operations. Also, to the extent one or more of our competitors introduces products and services that better address a customer’s needs, our business would be adversely affected.

    The reviewing CPA has included a “going concern” note in the reviewed financials. The reviewing CPA notes that as of November 30, 2017, the Company has incurred losses from inception of approximately $15,641 which, among other factors, raises substantial doubt about the Company's ability to continue as a going concern. The reviewing CPA further notes that the ability of the Company to continue as a going concern is dependent upon management's plans to raise additional capital from the issuance of debt or the sale of stock, its ability to commence profitable sales of its flagship product, and its ability to generate positive operational cash flow. The reviewing CPA further notes that the accompanying financial statements do not include any adjustments that might be required should the Company be unable to continue as a going concern.

    We are not subject to Sarbanes-Oxley regulations and lack the financial controls and safeguards required of public companies. We do not have the internal infrastructure necessary, and are not required, to complete an attestation about our financial controls that would be required under Section 404 of the Sarbanes-Oxley Act of 2002. There can be no assurance that there are no significant deficiencies or material weaknesses in the quality of our financial controls. We expect to incur additional expenses and diversion of management’s time if and when it becomes necessary to perform the system and process evaluation, testing and remediation required in order to comply with the management certification and auditor attestation requirements.

    Our business could be negatively impacted by cyber security threats, attacks and other disruptions. Like others in our industry, we continue to face advanced and persistent attacks on our information infrastructure where we manage and store various proprietary information and sensitive/confidential data relating to our operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack our products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate our network security and misappropriate or compromise our confidential information or that of our customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that we produce or procure from third-parties may contain defects in design or manufacture, including "bugs" and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of our information infrastructure systems or any of our data centers as a result of software or hardware malfunctions, computer viruses, cyber attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect our business.

    We have not prepared any audited financial statements. Therefore, you have no audited financial information regarding the Company’s capitalization or assets or liabilities on which to make your investment decision. If you feel the information provided is insufficient, you should not invest in the Company.

    We are subject to many U.S. federal and state laws and regulations, including those related to privacy, rights of publicity, and law enforcement. These laws and regulations are constantly evolving and may be interpreted, applied, created, or amended, in a manner that could harm our business. The technology and use of the technology in our product may not be legislated, and it is uncertain whether different states will legislate around this technology, and, if they do, how they will do so. Violating existing or future regulatory orders or consent decrees could subject us to substantial monetary fines and other penalties that could negatively affect our financial condition and results of operations.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events — through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company’s employees, including its management. You should carefully review any disclosure regarding the company’s use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company’s board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Glance Tech's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download Glance Tech's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive shares, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in Glance Tech
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Glance Tech. Once Glance Tech accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Glance Tech in exchange for your shares. At that point, you will be a proud owner in Glance Tech.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or government-issued identification
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Glance Tech has set a minimum investment amount of US $500.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own shares after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my shares in the future?

    Currently there is no market or liquidity for these shares. Right now Glance Tech does not plan to list these shares on a national exchange or another secondary market. At some point Glance Tech may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Glance Tech either lists their shares on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is Glance Tech's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Glance Tech's Form C. The Form C includes important details about Glance Tech's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your shares have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your portfolio page


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page.