Company Progress Report – October 2015

Here’s a quick update on companies who have made successful offers through Snowball Effect.

Renaissance:

Renaissance, the first company to equity crowdfund in New Zealand, celebrated its 10th birthday in September, and did so with a toast to continuing growth in its export markets. Just last month the team received orders from the US, Japan, Australia, China and Singapore valued at over $250,000.

CEO Brian Thiel said “with the start of a new fiscal year we were tracking well and these new orders are a great birthday present for us, it’s what the team have been working so hard towards the last 2 years. The crowdfunding with Snowball Effect, the addition of resource, travel around the globe, partnerships with agencies like NZTE, financing - it’s all been part of the plan.”

The Patriarch:

Don’t go looking for a film called “The Patriarch” any more – it has been renamed Mahana following various test screenings both here and in the US which had “very positive” responses.

We spoke to the producers of Mahana recently and they advised us that in July the picture was ‘locked’, meaning there will be no further editing of the film. The team is now in the process of completing sound design, visual effects, composing the score, and licensing the music, after which they can finally mix all of those elements together to create the finished product.

And some extra info for any film gurus out there: the production team is currently in the midst of ADR (automated dialogue replacement - required when they need to re-record dialogue for the film), and the final mix of sound is expected to be delivered by 26 November. Colour grading is also taking place (where a grader digitally alters and enhances the colour within every image of the film) which will probably take 10 full days alone to complete!

Carbonscape:

CarbonScape has been working on a lot of activities that are still behind closed doors until its AGM in October. Executive Director Tim Langley could say that the build of the pilot plant is well underway, and expected to be completed by the end of 2015. We can’t tell you much more at this stage, but keep an ear out for some exciting announcements after their AGM.

Aeronavics:

Since its offer in February, Aeronavics has doubled the number of full time staff it employs and is busy racing towards a new product range launch.

This will be at Big Boys Toys 2015 where the public will have the chance to view the new craft in action. We can’t release too many details on the new craft yet, but we can tell you that it has increased capabilities in several areas that will make it appealing to a broad range of users.

Invivo:

Invivo recently announced a tripling of monthly sales after launching the latest Graham Norton Sauvignon Blanc into Ireland. Invivo also won the tender to sell its Sauvignon Blanc on Qantas flights from next month.

Invivo now sells into 17 countries worldwide including Australia, Canada, through Asia and the UK.

Breathe Easy:

The team is nearing the end of Phase I clinical trials which were undertaken to measure the safety of the treatment with healthy volunteers. The focus is now on administration for getting the trial batches made and approved for the Phase IIa clinical trials which will begin in the next few months with the aim of demonstrating the safety and efficacy of the treatments with cystic fibrosis patients.

Mad Group:

After a successful private offer in July, Mad Group has been made it on to the Fast50 list again for 2015, winning the Fastest Growing Retail or Consumer Products Business in the Auckland and Upper North Island region. They have also received the deposit on the US master franchise license for Habitual Fix, and are hoping to have the first store open in the US in April 2016.

And the expansion continues in New Zealand too, with the team recently opening two stores (one Mad Mex and one Habitual Fix) on October 1st at Northwest mall - the first time they’ve ever opened two stores on one day!

Red Witch:

Red Witch launched a new bass pedal, Zeus, in September. Featuring two pedals in one, the Zeus offers players a silicon fuzz (comprising key features of the much loved Fuzz God II) as well as a beautiful analog suboctave. And what’s even better, Bootsy Collins, the Eric Clapton of the funk world, has tried the new pedal and is raving about it, saying “the Joker may be wild, but Red Witch got the funk and Zeus Bass Fuzz got the style. Plug into one and get funked up!”

Red Witch also reported exciting traction with its distribution and advertising strategies, gaining international attention and features in leading magazines such as Premier Guitar and iBass.

Punakaiki Fund:

Since Punakaiki Fund closed its offer a few months ago, it has made a number of investments including new investments in EveredgeIP Global, and Vend, and follow-on investments into existing portfolio companies Influx, Redseed, Boardingware International, Weirdly, and Onceit.

Punakaiki Fund expects to announce two new investments before the end of October.

WOOP:

In the few weeks since WOOP’s capital raise it has had a massive increase in customers, forcing them to bring forward the planning for a larger kitchen. On top of this they have hired three new full-time staff members in recipe development, customer service, and marketing, and two additional kitchen assistants for preparing the gourmet meal boxes.

The new team is now preparing to expand the WOOP service into other urban centres throughout New Zealand.