Once your Co-Op is in “goods selling” status you are required to report sales on funded products by the specified date noted on your Co-Op timeline. Based on your reported sales, an invoice is issued and you are contractually obligated to pay for these invoiced sales by the invoice due date.  

Businesses are also contractually obligated to update buyers once a month. A $500 late fee is applied for each late report, late payment and non update. Remember, the small time commitment to providing an update can help move the marketplace toward lower costs as you return for additional funding.

Any questions, email contact@kickfurther.com.