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BA

BANGI

1 fund·$50M raised◔ Unclaimed
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Avg Composite
20.0
Mid pack
Active funds
1
of 1 vintage
Total raised
$50M
disclosed offerings
Followers
0
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Composite score · by vintage

1 scored fund · avg 20.0
2550752019BANGI INC. · vintage 2019 · 20.0
Top quartile Middle Lower Sponsor avg

Disclosures & prior history4 disclosures · worst high

Material items extracted from the risk-factor, conflicts, and prior-performance sections of BANGI's PPMs. Each is quoted verbatim with its source page — surfaced, not editorialized.

Material disclosure — Bangi Inc. — auditor going-concern opinion

High

Company's auditors have formally indicated substantial doubt about the company's ability to continue as a going concern; if working capital is not secured, investors could lose their entire investment.

“Our auditors have indicated that these conditions raise substantial doubt about the Company's ability to continue as a going concern. We will need to increase the size of our organization, and we may be unable to manage rapid growth effectively.”
PPM p.798% confidence

Material disclosure — Bangi Inc. going-concern / recurring losses

High

Company has generated minimal revenues since inception, incurred losses, and its auditors have raised substantial doubt about its ability to continue as a going concern. Only ~6 months of operating capital on hand at time of filing.

“Our financial situation creates doubt whether we will continue as a going concern . We only have enough capital resources on hand to operate as-is for another 6 months. Since inception, the Company has generated minimal revenues and has incurred losses and reported losses for the period from inception through December 31, 2018. Further, we expect to incur a net loss for the fiscal year ending December 31, 2019”
PPM p.798% confidence

Key-person history disclosed — Bangi Inc. management team

Medium

The company's success depends on key personnel; no key-person life insurance exists. Loss of executive officers could materially harm results.

“will depend on their continued service. The departure of any of our executive officers or key personnel could have a material adverse effect on our business. If any of our key personnel were to cease their employment, our operating results could suffer. Further, we do not intend to maintain key person life insurance that would provide us with proceeds in the event of death or disability of any of our key personnel.”
PPM p.590% confidence

Related-party conflict disclosed — Change of control — Bangi Investments LLC / Series C Preferred Stock

Medium

Control of the company was transferred to Bangi Investments LLC (Nicole Birch, manager) via acquisition of the sole Series C Preferred share, which carries super-voting rights equal to 4x all other shares combined, giving the controlling shareholder near-absolute voting control.

“change in control whereby Rick Shykora, the controlling shareholder at the time sold his 1 share of Series C Preferred Stock, representing 75% of the total voting rights at any given time, to Bangi Investments, LLC. Soon after, the Company changed its name to Bangi, Inc. from Compass Technologies, Inc. and designated a new Series D Preferred Stock that was issued to the newly appointed Board of Directors.”
PPM p.2692% confidence

Fund portfolio

● Active
BANGI INC.
Unknown · Debt · Vintage 2019
Offering
$50M
LP Take
—
Composite
20.0

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