Products > Crowd Funded Projects

The Airing

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dunkemhigh:
Mmmm. OK :)

Cyberdragon:

--- Quote from: djos on November 30, 2018, 05:39:52 am ---
--- Quote from: Richard Crowley on November 30, 2018, 05:25:52 am ---
--- Quote from: djos on November 30, 2018, 05:16:29 am ---I still think that they are much more likely to succeed than say uBean ... to me at least I think they are showing signs of legitimately working towards their stated goal .... even if they dont pull it off they at least seem to be quite serious in their development of the micro-blowers.
--- End quote ---
No.  The chances of either of them delivering their flagship product asymptotically approach zero.

Even if the Airing people DO get their "micro-blowers" to work (which seems extremely doubtful to me, at least for the original purpose of CPAP which requires operation against considerable back-pressure),  have they ever even mentioned the question of power?  There is no known power technology (including Ubeam   >:D) that is even remotely capable of powering their fantasy gadget.

--- End quote ---

I agree with you, I was only refferring to creating funtional micro-blowers - the problems of power supply and air pressure are highly unlikely to be solved in their published formfactor.

--- End quote ---

But you too can wear a miniaturized nuclear reactor on your face once they develop it! >:D

edy:
Interesting site that lists crowd-funding and SEC filings of companies, may I present to you data on Airing:

https://crowdfilings.com/airing-inc-0001661081

I have copied some of the text below:


--- Quote ---Airing Inc.
Airing Inc. logo via Clearbit
Profile
According to their SEC filings, Airing Inc. is a Corporation organized in DE on 12-17-2015. They report having 0 employee(s), and revenue in their most-recent fiscal year of $0.00 and $0.00 the prior year.

Location
1 North Avenue

Burlington, MA 01803

Equity Crowdfunding Campaigns
Reg CF Offering from Airing Inc. (Previous)
Campaign Details
According to their SEC filings, Airing Inc. previously ran a Regulation Crowdfunding campaign to raise $350,000.00 (up to a maximum of $1,000,000.00) in Preferred Stock via Wefunder before a deadline of 11-02-2018.

As compensation for managing the offering, Wefunder reported being compensated as follows:

4.0% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

In addition to any direct compensation, Airing Inc. reported that Wefunder would also receive the following financial interest in the offering:

Securities equal to 2.0% of the securities sold will be issued to the intermediary upon a successful fundraise.

More information about this issuer may also be available via Crowditz.com, including information about weekly and aggregate investor commitments.

Financial Information
The following information is taken directly from SEC filings.

Income Statement Items
Most Recent Fiscal Year   Prior Fiscal Year
Revenue   $0.00   $0.00
Cost of Goods Sold   $0.00   $0.00
Taxes Paid   $224.00   $-2,000.00
Net Income   $-1,589,852.00   $-58,685.00
Balance Sheet Items
Most Recent Fiscal Year   Prior Fiscal Year
Total Assets   $0.00   $0.00
Cash and Cash Equivalents   $615,855.00   $654,063.00
Accounts Receivable   $0.00   $0.00
Short-term Debt   $1,547,004.00   $1,095,745.00
Long-term Debt   $443,875.00   $101,081.00
Complete Reg CF filings list for Airing Inc.
[2017-10-31T12:54:41+00:00] Airing Inc. filed an amended Form C (Form C/A) regarding their offering to raise a target of $350,000.00 via Wefunder. The nature of the amendment was described as follows:

Form C was cut off in the initial filing, it has been replaced with the full version.

File number: 020-23714

New Filing Form C

[2017-10-31T12:29:10+00:00] Airing Inc. filed a Form C to raise a target amount of $350,000.00 (up to a maximum of $1,000,000.00) of Preferred Stock via Wefunder.

File number: 020-23714
--- End quote ---

Notice that while their revenues are obviously $0, their cash holdings, and the short-term and long-term debts are HUGE! Here is the page on the SEC filings which I guess are required once they start doing any sort of legal equity crowd-funding and as a condition of WeFunder to make sure. Also, I can't find it on WeFunder at all, so did they get rejected?

https://www.sec.gov/Archives/edgar/data/1661081/000167025417000301/documents_list.htm

https://www.sec.gov/Archives/edgar/data/1661081/000167025417000301/0001670254-17-000301-index.htm

Here is the WeFunder page saying they raised $2 million+ dollars from 0+ investors. ?????

https://wefunder.com/airing

NOTICE ALSO ON THE WEFUNDER PAGE.... STEPHEN MARSH IS GONE!!!!! He is not listed ANYWHERE!

Also have a look here, it shows some interesting stuff about amount sold, amount left to be sold (could this be a transfer of the company to other people, and asking for 506(c) exemption status):

https://www.sec.gov/Archives/edgar/data/1661081/000166108118000001/xslFormDX01/primary_doc.xml

They also propose payment of $435,000 USD to the principals/executives in part 3 of the form...

Here is rule 506(c):

https://www.sec.gov/fast-answers/answers-rule506htm.html

And then this page gives conflicting information about the state of the WeFunder campaign:

https://www.crowditz.com/2017/11/airing-on-wefunder/

I'll leave it to someone else in the forum reading this post to try and explain what is going on, as it is above my understanding of the equity crowd-funding investor rules and regulations. Bottom line is that things are now in the open and a bit more transparent with SEC involved, although it doesn't seem any closer to developing what they promised to do originally (a CPAP device). What they do appear to be doing, which is Marsh's mode of operandi, is run a research lab and see what comes out of it and patent the results to try and sell to other companies or pull some other corporate shenanigans (as his history has shown with his previous money-losing ventures... see first few pages of this thread... money-losing for investors, while he pocketed the money).

Hey at least it is fairly obvious what is going on, although the entire premise of collecting money was misleading in the original IndieGogo campaign, it seemed all along like it was all a moon-shot and that people where not buying product at all, but buying VOUCHERS *in case it every gets sold*. People couldn't look past their eagerness to read the fine print and dig a bit deeper to doubt it.... as opposed to our other much BIGGER example with our friend Theranos and Elizabeth Holmes who will probably end up behind bars and pay a huge fine.... time will tell:

https://www.nytimes.com/2018/06/15/health/theranos-elizabeth-holmes-fraud.html

edy:
It's now April... nothing new from Airing since a facebook post announcing "Justin" joined the team back November 2018. Looks like they are quietly going into the night... with all your money. $$$  :-DD   If anyone can find absolutely anything new on their status, please post it. I can't even load their IndieGogo page anymore. Didn't they have periodic news updates/releases? It's been 4 months of silence.

Kean:

--- Quote from: edy on April 02, 2019, 01:39:59 pm ---If anyone can find absolutely anything new on their status, please post it. I can't even load their IndieGogo page anymore. Didn't they have periodic news updates/releases? It's been 4 months of silence.

--- End quote ---

I can acccess the IGG campaign page.  Not a backer, but I am logged in.
There are no new updates, but a couple of replies from Airing including...

From 21 days ago

--- Quote ---Thank you for your support, Jeffery. We will be posting an update soon. Please stay tuned! A lot of your questions are answered in the technical update. For eg., micro-pressure sensor will be used in the Airing device which will help with the auto-titration. For humidification, please refer to our FAQs page here: http://www.fundairing.com/faqs Enjoy and please feel free to email us if you have any further questions.
--- End quote ---
and

--- Quote ---Hello Franco, we are sorry you feel scammed but we are working as quickly as we can and we are making a great progress. You will receive your Airing devices as soon as Airing becomes available. We appreciate your support and your patience!
--- End quote ---

From 24 hours ago

--- Quote ---Hello there, we are working as quickly as we can and we are making a steady progress. Stay tuned and please don't lose hope, we haven't.
--- End quote ---

Someone also linked to this post on Medium from November which I don't think has been mentioned here before
https://medium.com/@joshdance/airing-micro-cpap-appears-to-be-a-scam-e7605a0f93f

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