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AUDEA

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Audea Inc.

Media & Entertainment · Millcreek, UT · Founded 2014

Ultra smart audio

Post-money valuation ⓘ
$12.4M
As of May 2022 · from Reg CF Offering (2022) · pre-money + amount raised, not a traded price
Total raised
$1,813,007
Crowd $57K · Private $1.8M · 2 rounds since 2021
Latest share price
$2.50
Reg CF · Common Stock · Jan 2022 offering price

Financials

FY2019–FY2022 · from SEC filings · hover any figure for its source
$0
−$435K
2019
$5K
$24K
2020
$5K
−$311K
2021
$0
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2019 reviewed*
FY2020 reviewed
FY2021 reviewed
FY2022 reviewed
Income statement
Revenue
$0
$5,274
$5,274
$0
Cost of goods sold
$0
$1,391
$1,391
$0
Gross margin
—
74%
74%
—
Net income
-$435,306
$23,724
-$310,877
$0
Taxes paid
$0
$0
$0
$0
Balance sheet
Cash
$44,768
$0
$0
$3,220
Accounts receivable
$0
$0
$0
$0
Total assets
$294,013
$284,706
$284,706
$284,706
Short-term debt
$640,588
$767,158
$0
$0
Long-term debt
$0
$0
$47,906
$25,364
Total liabilities
$640,588
$767,158
$47,906
$25,364
Other
Headcount
—
6
6
0

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$1.7M
est. pre-money
$12.3M
pre-money
Rule 506(b) · Common · Dec 2021
Reg CF · Common · Jan 2022

Blue bars are the pre-money valuation the company stated for a priced round. Dotted grey bars are our estimate for rounds that didn't state one: the round's share price × the shares outstanding in its filings. Same measure as blue, but rougher.

Share price over rounds

$2.50$1.25$0.4355
Dec 2021Jan 2022
Round offering price or verified disclosed saleDisclosed sale, unverified or year-only

Disclosed sales come from the issuer's own filings (prior-offering lines, audited-statement notes) and are amount ÷ securities sold. A down round is a firm point more than 25 % below the previous firm point of the same share class on a comparable basis; the comparison ignores unverified and year-only lines.

Cap table

Share counts as of Dec 31, 2020
Preferred Series 1 · 2.61%Common Stock · 97.4%
ClassOutstandingVotes / shareShare of totalLast price
Preferred Series 1preferred100,000—2.61%—
Common Stock3,736,100197.4%$2.50Jan 2022
Total3,836,100100%

Principal holders% as the filing states it, Jul 7, 2023

  • Lloyd Brown55,000 Preferred Stock29.3%of Preferred
  • Douglas Kihm1,111,246 Common Stock26.9%of

Sold to the crowd

From the company's SEC filings: share counts per class, each class's voting and conversion terms, and the holders of 20% or more that Form C requires (officers and 10%+ holders on Form 1-A). Filings name only large holders, so most owners — including crowd investors — are not listed, and a holder's percentage may be of its own class rather than of the whole company. Prices and crowd share counts are in today's share terms — adjusted for splits and conversions since they were sold. Hover a figure for its filing.

Fundraising history

Raised $56.6K / $1.1MInvestors 22Post-money $12.4M
Raised $1.8MEst. pre-money $1.7M

Team

7 people
Douglas KihmFounder
Chief Executive Officer, President, Corporate Secretary, and Chairman of the Board

Douglas Kihm is the Founder and Chief Executive Officer of Audea Inc. Over the past 37 years, Douglas has been responsible for the successful technical and managerial leadership of three companies including Axonix Corp., Mozaex LLC, and Audea Inc., formerly Streamz Inc. Douglas worked with Dr. Stockholm at Soundstream® on the world’s first digital music recorder and player. He developed the Mozaex® Music and Movie Entertainment Server, which became the world’s first and most popular Ultra Blu-ray 2D and 3D Server. With over 8,000 units installed in over 35 countries, the Mozaex Server became the choice of hundreds of custom home integrators and custom Original Equipment Manufacturers (OEM) including IMAX® who chose Mozaex for their $2.5M in-home Private Theater system. Douglas developed the world’s first 7.1 HD Audio surround sound headphones called “Bluwavs” for a high-profile Mozaex movie server client. He subsequently developed “Streamz” which are autonomous voice-controlled headphones and formed the company Streamz Inc. in 2014 which was later renamed Audea Inc. in 2018. Douglas filed for a patent on its “Streamz” autonomous smart voice-controlled headphones in 2014 and transferred rights to the patent to AUDEA Inc. which was issued two patents with a total of 30 claims in 2018 and 2021. Highlights • Founder, Chief Executive Officer of Audea®, Mozaex®, and Axonix® • Author of issued 30 claim AUDEA Inc. patent • Developed, licensed, and sold to IMAX® custom Mozaex movie servers • Helped develop Soundstream®, the world’s first digital music player • BS Electrical Engineering degree from University of Utah

Lloyd Stewart
Chief Financial Officer

Lloyd Stewart was an investment banker with Smith Barney in New York and San Francisco, which later merged with Morgan Stanley. He was the founder and Chairman of Stewart-Reiss Laboratories, a medical electronic company (I.V. infusion pumps) in Santa Clara, California, which was later sold to Sterling Medical, a public company. He served as Chief Financial Officer for Thoratec Corporation, a manufacturer of electronic heart devices, which he helped take public. Thoratec had sales of $477 million and a market cap of $2.2 billion in 2014. Highlights • Chief Financial Officer Helped take Thoratec Corp. public. 2014 Market Cap: $2.2 Billion • Founder, Chairman of Stewart-Reiss Laboratories, sold to Sterling Medical. • Bachelor’s degree at Stanford University, Palo Alto, CA • MBA in Finance at the Harvard Business School, Boston, MA.

Tyler Gilbert
Senior R&D Engineer Consultant

Tyler Gilbert has had 14 years of hardware, firmware and application design and development experience. As an engineering consultant Tyler has been the lead designer of both the Streamz smart headphones and the AUDEA smart speaker. Highlights • 14 years of award winning system engineering design • Founder CTO, Stratify Labs, Inc • MS Electrical Engineering, Stanford University • BS Electrical Engineering. United States Air Force Academy

Duane Bush
Director

Duane Bush brings over 35 years of invaluable experience to the Company including company mergers & acquisitions plus business management. He holds the position of Vice President, Mergers & Acquisitions at Colliers International. The Company draws from his extensive background selling businesses and as a business owner and operator which gives him valuable insight into the inner workings of small business. His business ownership experience includes specialty sports retail, software and internet technology, national and international sales and distribution of products. Mr. Bush has successfully managed and closed hundreds of transactions locally, nationally and overseas in the main street and lower middle-market arenas, representing both buyers and sellers.

Lloyd Brown
Director

Lloyd L. Brown, Director brings a wealth of business knowledge in management, sales, marketing and over 50 years of experience to the Company. After founding and owning a car business he started Motor Sportsland, an RV dealership in Salt Lake City and spent the next 45 years as its CEO and principal owner building that business into Utah’s top RV dealer. Mr. Brown is now a retired investor but enjoys sharing his extensive experience in church and business affairs with others, including Audea. as a member of its Board of Directors.

Randell Young
Advisor

Director Randell Young is the managing general partner of Venture-Net Partners, an investment group which currently includes: Doug Pewitt, the former assistant director of the White House Office of Science and Technology Policy in the Reagan Administration; and Mario Fiori, the former assistant secretary of the Army in the Bush Administration. Mr. Young serves on the board of directors of numerous companies. He has lectured at the graduate level on contemporary issues in venture capital at The University of Phoenix and holds a doctorate in music (D.Mus.) from City University Los Angeles. Highlights • Managing General Partner of Venture-Net Partners • Early-stage investor and board member of Accuray Incorporated (ARAY) • Director on board of Thorium Manufactured Reactors; iSparked Studios among other companies • Doctorate in music (D.Mus.) from City University Los Angeles

Tim Simonsen
Director

Tim Simonsen brings an enormous wealth of knowledge in business management, sales and marketing to the Company’s Board. Mr. Simonsen is a 37-year veteran of the real estate industry and holds the position of Senior Executive Vice President & Partner at Colliers International. Mr. Simonsen’s diverse experience encompasses sales, leasing, development, property management and finance. His extensive knowledge of the business is drawn from involvement in thousands of transactions, many of which required creative and innovative strategies. He was recognized as the number-one producing agent in the world for Coldwell Banker Commercial in 2005, number one top producer in the Western Region and the number-one sales associate for the State of Utah.

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not requiredFewer than 300 holders of record

Filed 2 of 5 annual reports (FY2021–FY2025)

22 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

SEC filings

  • Form C-ARJul 7, 20230001906682-23-000003
    EDGAR
  • Form C-UJun 2, 20220001665160-22-001738
    EDGAR
  • Form C-ARApr 27, 20220001665160-22-000943
    EDGAR
  • Form C/AApr 27, 20220001665160-22-000938
    EDGAR
  • Form CJan 31, 20220001665160-22-000191
    EDGAR
Source: ManualCIK 0001906682UTShare price $2.50

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.