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CannaInvestor Magazine: Do you currently have investors? How have you funded the company to date?
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TresMonet: We do have investors, and we have raised about $450,000, to date. Also, Dr. laRive and I each invested $150,000, to start the business.
A
Q
CannaInvestor Magazine: How much capital do you need to raise? What are the uses of proceeds?
TresMonet: We are raising $10M in investment capital for 20% ongoing Company equity. Proceeds will be used to, 1) further build out of our manufacturing & automation capabilities, 2) fund our further R&D, including third-party clinical trials for each of our products, 3) fund our marketing budget, 4) purchase the 55,000 sq. ft. building that houses our current production facility, and 5) provide for two years of operations.
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CannaInvestor Magazine: What is your exit strategy? IPO or acquisition? Could you give us an example of what type of companies that could have a future interest in acquiring TresMonet?
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TresMonet: After 2 - 3 years of operation, we will consider both IPO and acquisition or a combination of the two as proper exit strategies. However, we need to drive our annual sales to the $100M - $200M per-year-level before we consider this move. That being said, we have already been approached for acquisition, by a top-5 skincare company which will remain nameless. This was over a year ago, when we only had one product, and based on our IP alone. We did not sell because we’re having fun running the company!