# CB Auto Group

Closed: Jun. 2019

## About this raise

Union Auto Program, with a pre-money valuation of $31.5 million, is raising crowdfunding on WeFunder. Union Auto Program is the only car buying service specific to the labor union members. Additionally, it also offers free ‘peace of mind’ benefits. Union Auto Program is currently operating in fourteen states and plans to expand nationally. The company markets directly to the labor unions and their members. Union Auto Program was founded by John A Perez who grew up with union members and founded the company to pay back the community. The current crowdfunding round is expected to launch on May 10, 2019, and the proceeds will be used to expand the program nationally. Union Auto Program received 100 registrations per month during beta testing in 2018 while the day it opened to members in January 2019, it received 1,700 registrations from members looking to buy a vehicle.

## Investment Overview

**Not Funded:**
$0

### Deal Terms

#### Total Commitments

**Platform:** Wefunder  
**Start Date:** 05/07/2019  
**Close Date:** 06/18/2019  
**Min. Goal:** $250,000  
**Max Goal:** $1,069,980  
**Min. Investment:** $500  
**Security Type:** Equity - Preferred  
**Company Stage:** Early Stage  
**SEC Filing Type:** RegCF  
**Price Per Share:** $35.00  
**Pre-Money Valuation:** $31,500,000

### Company & Team

#### Company

**Year Founded:** 2016  
**Industry:** Consumer Products, Goods & Services  
**Distribution Model:** B2C  
**Location:** Roswell, Georgia  
**Company Website:** [Visit Website](https://www.cbautogroupinc.com/)

#### Team

**Employees:** 7  
**Founder Name:** John A. Perez  
**Title:** CEO & Chairman

## Financials

**Revenue:** $0  
**Monthly Burn:** $106.8K  
**Runway:** 11.9 months

#### Summary Profit and Loss Statement

|  | FY 2018 | FY 2017 |
| --- | --- | --- |
| Revenue | $25,057 | $114,975 |
| COGS | $102,526 | $6,795 |
| Net Income | $-1,281,609 | $-543,365 |

#### Summary Balance Sheet

|  | FY 2018 | FY 2017 |
| --- | --- | --- |
| Cash | $1,269,651 | $13,584 |
| Accounts Receivable | $4,000 | $5,295 |
| Total Assets | $3,899,375 | $2,594,925 |
| Short-Term Debt | $370,450 | $81,041 |
| Long-Term Debt | $909,863 | $55,713 |
| Total Liabilities | $1,280,313 | $136,754 |

## Company Funding & Growth

### Funding history

| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
| --- | --- | --- | --- | --- | --- | --- |
| 06/18/2019 | Wefunder | $31,500,000 | $0 | Equity - Preferred | Not Funded | RegCF |