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FloSpine

Operating

FloSpine Holdings, Inc.

Healthcare · Boca Raton, FL · Founded 2022

Applying new technology and design concepts to solve medical problems for human spinal column

Post-money valuation ⓘ
$47.6M
As of Jan 2023 · from Reg CF Offering (2022) · pre-money + amount raised, not a traded price
Total raised
$1,396,663
Crowd $82K · Private $1.3M · 7 rounds since 2014
Latest share price
$2.90
Reg CF · Common Stock · Sep 2022 offering price

Financials

FY2020–FY2022 · from SEC filings · hover any figure for its source
$1.3M
−$166K
2020
$1.6M
−$700K
2021
$2.0M
−$475K
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2020 reviewed
FY2021 reviewed
FY2022 unaudited
Income statement
Revenue
$1,254,783
$1,557,981
$2,020,171
Cost of goods sold
$280,235
$470,571
$530,698
Gross margin
78%
70%
74%
Net income
-$166,166
-$699,753
-$474,585
Taxes paid
$0
$0
$0
Balance sheet
Cash
$68,182
$855,057
$281,341
Accounts receivable
$212,113
$160,731
$326,283
Total assets
$1,228,098
$2,164,439
$1,912,054
Short-term debt
$176,552
$1,774
$45,575
Long-term debt
$229,998
$1,962,359
$2,012,231
Total liabilities
$406,550
$1,964,133
$2,057,806
Other
Headcount
—
7
2

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
$47.4M
pre-money
Reg CF · Common · Sep 2022

Blue bars are the pre-money valuation the company stated for a priced round.

Share price over rounds

log scale
$2.90$0.2181$0.0164
Sep 2014Sep 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

Principal holders% as the filing states it, Sep 30, 2022

  • Harris Revocable Trust9,580,800 Class A Common Stock100.0%of company

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 $100KInvestors 1
Raised $225KInvestors 3
Raised $81.6K / $1.1MInvestors 165Post-money $47.6M

Team

8 people
Peter HarrisFounder
President, CEO, Director, and Corporate Treasurer

Mr. Harris has more than 22 years of spine experience and has been responsible for the development of many successful medical spine products. Before founding FloSpine, Mr. Harris was the Vice President of Engineering for Amedica Spine Division. Prior to this in 2004, Mr. Harris joined startup K2M, Inc. as their Senior Project Engineer, which was successfully sold to Stryker Medical for $1.4 Billion. Mr. Harris graduated with a Diploma in Mechanical Engineering from the Cape Peninsula University of Technology. Peter's primary function is leading FloSpine LLC, which is the operational side and is 100% owned by FloSpine Holdings Inc. Peter dedicates a few hours managing FloSpine Holdings Inc and approximately 60 hours/week working for FloSpine LLC.

Dr John Afshar
Chief Medical Officer

Dr. John Afshar is a board certified fellowship trained neurosurgeon specializing in minimally invasive surgery of the spine and the brain. He received both his undergraduate and medical degree from Georgetown University in Washington, DC. He completed his residency in neurologic surgery at the Georgetown University Medical Center in Washington, DC. During his residency he further received specialized training at the Armed Forces Institute of Pathology and Children’s National Medical Center in Washington, DC as well. He then underwent a research fellowship in brain tumors and cerebrovascular disease at the world renown National Institutes of Heath in Bethesda, Maryland where he published several scientific articles. He obtained national recognition for his research by receiving the Galbraith award from the Congress of Neurologic Surgeons. He further performed a spinal fellowship at Tampa General Hospital/University of South Florida in Tampa, Florida. He is a Diplomate of the prestigious American Board of Neurologic Surgery. He is also a member of the Congress of Neurologic Surgeons and the North American Spine Society. From his extensive experience at the Georgetown University Medical Center Dr. Afshar’s approach to his patients is based on the concept of “cura personalis” which translates as “ the care of the whole person “. With this compassionate guiding principle and evidence based medicine he will optimize both the conservative and surgical treatment outcomes of all his patients.

James Spitler
Vice President of Research and Development

Mr. Spitler has more than 20 years of orthopedic experience in spine, total knee, shoulder and hip specializations. He has worked for Sulzer Medical, Arthrex, Medtronic, C.R. Bard, IMDS and brings start-up experience from IST with Texas Back Institute. Mr. Spitler owns more than 14 patents in spinal technology and has launched many successful products. He has a BS in Mechanical Engineering from Texas A&M University.

Tom Fellman
Director of Sales

Mr. Fellman is a veteran of the United States Navy. After receiving an honorable discharge he attended and graduated from the University of South Florida in Tampa, FL. After graduation Tom worked with several pharmaceutical companies. This exposure led him to opening up his own distributorship. Tom joined the Amendia team and within a few years he and his team worked their way up to be one of the largest distributors of spinal products in the US. Tom enjoys working with surgeons, listening to their obstacles and prides himself on providing solutions.

Waldi Harris
Director of Administration and Corporate Secretary

As Co-Founder, Waldi contributes 30+ years of experience in Nursing, Education, HR & Payroll functions (50-250 weekly contractors); leading Administrative, QA & Inspection teams. Recently as a RN at Boca Raton Regional Hospital, she assisted with customizing & teaching medical staff the Cerner HER system for the Labor & Delivery, Postpartum, Newborn Nursery, and Neonatal ICU departments. As top AE supporting AEG, Merck, J&J, & Qualcomm she was a talent scout of Executives, Finance and IT professionals. Waldi opened multiple employment branches & onsite offices; and over 100 franchises for owners of health equipment/salons. Waldi’s primary function is managing FloSpine LLC, which is the operational side and is 100% owned by FloSpine Holdings Inc. Waldi contributes a couple of hours managing FloSpine Holdings Inc and approximately 50 hours/week working for FloSpine LLC.

Dr Anup Gangavalli
Medical Consultant

Dr. Anup Gangavalli is an orthopedic surgeon specializing in minimally invasive and reconstructive spine surgery practicing at St Mary's Hospital in Richmond, VA Dr. Gangavalli received his Medical Degree at Stony Brook University in New York where he obtained a BS in Neuroscience with Dual Honors in Research and a Minor in Chemistry. Dr. Gangavalli attended the Orthopedic Surgery Residency program at St. Luke’s University Hospital & Health Network in Bethlehem, PA and he completed his fellowship training in Spine Surgery at the Cleveland Clinic in Cleveland, OH. Dr. Gangavalli has gained ample exposure to a wide range of spinal pathologies and an extensive training in the diagnosis and management of adult spinal disorders including degenerative cervical, thoracic and lumbar disease, spinal deformity, intradural and extradural spinal tumors, spinal trauma, spinal infections, congenital spinal abnormalities, and complex reconstruction/revision cervical and lumbar pathology.

Dr Chen-Lun Soo
Medical Consultant

Dr. Cheng-Lun Soo, MD is a orthopedic spine specialist in Oklahoma City, OK. Dr. Cheng Lun Soo graduated from University of Kentucky College of Medicine in 1993 and completed his residency at Baylor College Of Medicine. He currently practices at One Core Health and is affiliated with Great Plains Regional Medical Center. Dr. Soo is board certified in Orthopedic Surgery.

Dr. Louis Raso
Medical Consultant

Board-certified in both pain management and anesthesiology, Louis J. Raso, MD, PA, is extensively trained in a wide range of services to relieve chronic pain and improve the quality of his patients’ lives. At his practice in Jupiter, Florida, Dr. Raso specializes in treating persistent pain that isn’t treatable with other therapies and focuses on identifying the root cause of his patients’ pain. Dr. Raso is certified by the American Board of Anesthesiology and stays active in pain management research and technology. In addition to his clinic work, Dr. Raso authors articles on pain management techniques for medical journals and book chapters, and he lectures on the subject around the country and throughout Europe. After earning his medical degree from Rutgers New Jersey Medical School in Newark, New Jersey, Dr. Raso went on to complete both his training in anesthesiology and a fellowship in pain management at Thomas Jefferson University in Philadelphia. He remains actively involved in educating other physicians about spinal cord stimulation technology and research.

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 requiredFiled Form C-TR (terminated reporting)

Filed 1 of 4 annual reports (FY2022–FY2025)

165 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 DAug 9, 20240001948394-24-000004
    EDGAR
  • Form C-TRApr 26, 20240001080368-24-000014
    EDGAR
  • Form DJun 28, 20230001948394-23-000001
    EDGAR
  • Form C-ARMay 4, 20230001665160-23-001205
    EDGAR
  • Form C-UFeb 2, 20230001665160-23-000176
    EDGAR
  • Form C/ADec 27, 20220001665160-22-003120
    EDGAR
  • Form C/ANov 21, 20220001665160-22-002947
    EDGAR
  • Form CSep 30, 20220001665160-22-002557
    EDGAR
Source: ManualCIK 0001948394DEShare price $2.90

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.