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NarcX Solutions Inc.

Healthcare · Technology · Vineyard, UT · Founded 2019

Provides a practical, effective and affordable solution to address the problem of drug disposal

Post-money valuation ⓘ
$35.1M
As of Apr 2022 · from Reg CF Offering (2021) · pre-money + amount raised, not a traded price
Total raised
$72,662
Across 1 round since 2021
Latest share price
$1.00
Reg CF · Common Stock · Dec 2021 offering price

Financials

FY2019–FY2022 · from SEC filings · hover any figure for its source
$77K
−$415K
2019
$235K
−$198K
2020
$92K
−$1.6M
2021
$90K
−$494K
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2019 reviewed*
FY2020 unaudited
FY2021 unaudited
FY2022 unaudited
Income statement
Revenue
$76,948
$235,025
$92,251
$90,272
Cost of goods sold
$69,595
$131,482
$31,931
$33,403
Gross margin
10%
44%
65%
63%
Net income
-$414,530
-$197,772
-$1,559,182
-$494,174
Taxes paid
$0
$0
$0
$0
Balance sheet
Cash
$126,677
$32,621
-$339
$5,008
Accounts receivable
$0
$0
$2,601
$2,747
Total assets
$126,677
$32,621
$2,870
$38,774
Short-term debt
$4,280
$24,538
$31,511
$25,392
Long-term debt
$417,819
$0
$485,000
$485,000
Total liabilities
$422,099
$24,538
$516,511
$510,392
Other
Headcount
—
5
5
5

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
$35.0M
pre-money
Reg CF · Common · Dec 2021

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

Cap table

Principal holders% as the filing states it, Dec 17, 2021

  • of NarcX; and50.0%of company
  • Owned Global Dynamic Ventures, LLC50.0%of company
  • ovned by Gavin carlier17,608,500 Common25.1%of company
  • owned by Jordan Erskine8,804,250 shares25.1%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 $72.7K / $1.1MInvestors 66Post-money $35.1M

Team

6 people
Christian KastelerFounder
Director of Research & Development

Christian Kasteler is a Chemical Engineer with an emphasis in Bio-Chemical Engineering, working for over 15 years in the pharmaceutical industry. Christian believes that science and engineering can directly improve lives and enjoys taking an idea from concept to production. When tasked with developing a new product, he takes pride in delivering tangible, effective results that exceed expectations. Christian has spent his career developing and producing pharmaceuticals, cosmetics, and medical devices. Christian is naturally curious and thrives on focusing his sharp, scientific mind on solving problems and creating effective solutions. Throughout his career, he has refined the processing of biodegradable polymers for esophageal chemotherapy treatment; developed innovative oral care products presently used within the dental industry; and worked as the Director of R&D for a compounding pharmacy. Christian currently serves as the Director of Research and Development at Dynamic Blending where he continues to generate positive results by developing a variety of drug, device, and cosmetic products. Christian’s experience was invaluable in the development of the NarcX® solution. When approached with the idea of creating a drug disposal product, he relied on his scientific expertise to develop the only DEA-compliant medication destruction method available today. Christian is proud to be a part of the NarcX® team. Christian holds a B.S. degree in Chemical Engineering from the University of Utah.

David SchillerFounder
Chief Compliance Officer

David Schiller is a former DEA Assistant Special Agent in Charge with over 30 years of experience with the United States Drug Enforcement Administration (DEA). Beginning with his hiring as a Special Agent in 1987, he was involved in investigating some of the largest criminal drug trafficking organizations throughout the world. After serving as the Executive Assistant to the Assistant Administrator in Arlington, Virginia, Schiller was reassigned in 2009 as the Assistant Special Agent in Charge (ASAC) for the Denver Field Division. He was subsequently assigned complete supervisory oversight for the DEA’s Diversion Program. This included supervisory oversight of all of the Tactical Diversion Squads and Diversion Groups in Colorado, Utah, Montana, and Wyoming. In this capacity, Schiller led the investigation of all criminal, administrative, and civil cases affecting every one of DEA’s Registrants, including manufacturers, distributors, pharmacies, hospitals, narcotic treatment providers, and doctors. In 2015, Schiller was selected to be the Vice-Chair of DEA’s Diversion Field Advisory Committee (DFAC), with ultimate responsibility for coordinating all diversion-related matters for every one of DEA’s 21 Field Divisions in the United States. He ended his distinguished career by finalizing the largest administrative and civil settlement against a DEA Registrant in history—the McKesson Corporation. He retired from DEA in August 2017. Schiller’s vast experience and background were invaluable in co-founding NarcX® and contributing to the development of its game-changing products.

Gavin CollierFounder
Chairman of the Board

Gavin began his education at Brigham Young University where he earned his Bachelor of Science in Biology. His major included emphasis in chemistry as well as Molecular, Micro, and Evolutionary Biology. With his scientific knowledge, Gavin worked in chemical formulations Research and Development for several years. Thereafter, Gavin continued his education and attended Law School where he earned his Doctor of Jurisprudence. Gavin is a licensed attorney in the State of Utah and practiced in Federal and State Court. Gavin has demonstrated again and again his skill as a trial attorney and skilled negotiator. Gavin is aggressive, highly organized, and extremely detailed in all that he does. Gavin is also an entrepreneur and has co-founded Dynamic Blending Specialists, NarcX® as well as many other successful businesses. Languages: English & Spanish

Jordan ErskineFounder
Chief Executive Officer

Jordan Erskine is a highly motivated entrepreneurial individual who has co-founded many successful businesses. Jordan has almost 20 years in the OTC/personal care/skincare industry. Jordan is currently a Co-Founder & Principal for the award-winning contract manufacturer Dynamic Blending. Jordan has spent his entire career in the manufacturing and R&D world. Jordan started his career at a large contract manufacturing facility, Wasatch Product Development, in Draper Utah. At Wasatch Product Development he wore many hats in R&D, manufacturing, formulations, etc. He spent many years in R&D developing new and innovative personal care/skincare products. Jordan then moved on to a large dental manufacturing firm named Ultradent Products, Inc. Here, Jordan formulated and provided technical formulations assistance for two large Fortune 500 company accounts, Glaxo Smith-Kline and Colgate-Palmolive. Jordan is passionate about helping to solve or mitigate the opioid epidemic. Jordan, and the rest of the dedicated NarcX® team, is excited to bring the only on-site medication disposal method to the market. Jordan holds an MBA in International Business from Northeastern University.

Jim Carroll
Board of Advisors

Jim (James) Carroll, principal and co-founder of DC Consulting LLC, a strategy and management consulting firm serving public, private, and non-profit clients offering services in the area of healthcare, pharmaceuticals, drug policy, drug use prevention, law enforcement, and communities. Carroll previously served as the Director of the White House Office of National Drug Control Policy (ONDCP) from Feb 2019 to Jan 2021. Acting Director and Deputy Director of ONDCP from Feb 2018 to Jan 2019. Under the leadership of Director Carroll, the United States saw its first annual decrease in overdose deaths for the first time in 30 years; the number of drugs seized by law enforcement at our Nation’s borders stood at all-time highs; and record Federal grants were awarded in support of drug interdiction and public health programs. In his role as “Drug Czar,” Carroll served as the principal advisor to the Administration on drug policy and managed a passionate staff of approximately 100 professionals. He oversaw a budget of more than $35 billion and successfully coordinated the activities and related funding of sixteen Federal government agencies and departments to reduce the supply of and demand for illicit substances. Under the Trump Administration, Carroll also served as Assistant to the President and Deputy Chief of Staff at the White House, General Counsel of the Office of Management and Budget, and as Deputy Assistant and Senior Counsel to the President. Under the George W. Bush Administration, served as Special Assistant and Associate Counsel to the President at the White House, Deputy General Counsel and Acting General Counsel at the U.S. Department of the Treasury, and as an attorney at the U.S. Department of Justice. Carroll also served as a state prosecutor in Virginia after earning his bachelor’s degree from the University of Virginia and his J.D. from the George Mason University School of Law.

Juan Riboldi
Strategic Advisor

Juan serves as NarcX Strategic Advisor assisting the executive team on strategic decisions to deliver critical results, including capital strategies, capitalization initiatives, and investor relations. Juan brings extensive experience working across the US and internationally with well-known Fortune 50 corporations and fast-growing private enterprises. With a strong entrepreneurial background, Juan assists NarcX executives to identify, qualify, launch, and onboard strategic partnerships. Juan has a Master's Degree in Business Management with an emphasis in Strategy, Organization, Leadership, and Mergers & Acquisitions from BYU, Harvard School of Business, and Wharton Business School.

Names and titles as disclosed on StartEngine, SEC Form C. 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 2 of 5 annual reports (FY2021–FY2025)

66 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-ARFeb 13, 20240001393905-24-000045
    EDGAR
  • Form C-TRFeb 13, 20240001393905-24-000047
    EDGAR
  • Form C-ARFeb 13, 20240001393905-24-000042
    EDGAR
  • Form C-UMay 4, 20220001665160-22-001567
    EDGAR
  • Form CDec 17, 20210001665160-21-002232
    EDGAR
Source: ManualCIK 0001890401UTShare price $1.00

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.