Can I interest you in booking a call with the BOXABL Investor Relations Team to answer any questions you might have? https://calendly.com/BOXABL/10min Housing is a big problem all around the world. Here is an article that says we are 4 to 7 million housing units short in the USA! We think the timing for BOXABL is great to take advantage of this huge need. Also, Accessory Dwelling Units are also rising in popularity and regulations are changing to make it possible. The following states now have laws legalizing backyard ADU's... AZ, CA, WA, OR, ME, CT, NV, FL and more are in the works! Even the Canadian Prime Minister, Justin Trudeau, is talking about factory-built housing! What a dream for BOXABL! Stay tuned for the latest updates on our social media platforms—Instagram is an excellent starting point: https://www.instagram.com/BOXABL/ |
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AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT IS AT THE FOLLOWING LINK: https://www.boxabl.com/invest#circular <div style="display:none;max-height:0;overflow:hidden;mso-hide:all;"> Your interaction with our content, in any format, is appreciated. We value your time and the trust you place in our communications. Thank you for being an active member of our community, and we look forward to continued exchanges in the future. If you have missed our previous HTML emails explaining what our company does, here is our recent webinar on Boxabl's Past, Present & Future with Founder Galiano Tiramani: Hey everyone,thanks for tuning into the Boxabl webinar. Be sure to read the disclaimer link before making any investment decisions. Here we are at Boxabl in Las Vegas. I'll give you an overview of what's happening at the company, and at the end, we'll have a live Q&A. Stay tuned, and I'm happy to answer any questions you have. Back in 2017, we came up with the idea for Boxabl to make housing more affordable. Things have moved quickly since then. We've been able to build over 700 houses, set up factory buildings, and now we're rolling out several exciting new products. You can go online right now and buy a Casita. We also have a dealer network with over 100 contractors around the country in many different states who have signed up to become Boxabl dealers. One cool thing we've launched is a new model for backyard ADUs. We have the Casita, which is our first product—a small studio apartment of 360 square feet, with a kitchen, bedroom, and bath. Now, we've added another box to create a two-bedroom model. This will be rolling out in California. If you're in California, head over to our website, fill out an order form, or reach out to a dealer to learn more about getting one. We have lots of projects going on around the country, and we're excited about the trajectory of our sales. We started the company in 2017 with the idea for Boxabl. A few years later, we created some prototypes and started gaining traction. Then, we received an order from the U.S. military. At that point, we didn't have much—just a few prototypes in a garage—but we took the order, which was for 156 houses, and ran full speed to get things up and running. We grabbed a warehouse, ordered equipment, hired staff, and got all 156 houses built and delivered. Since then, we've continued to scale up and implement the things we need to keep moving forward. Now, we're announcing what I'm calling phase two of the company. When we got started, we needed to get our foot in the door. It was all about the Casita—getting manufacturing up and running, dealing with regulatory issues, and getting sales online. People love Casita, and they're really excited about it. But Boxabl is not just a tiny house company or an ADU company. We don't want to limit ourselves to that. Our plan is to offer a solution for residential construction where Boxabl can build faster and cheaper than the traditional way of doing things. There's a huge problem with housing affordability in the U.S. and worldwide, with a significant housing shortage—over 4 million units short. Our solution is mass-produced houses in a factory. If you look at all the other modern products in the world, like cars, sneakers, and iPhones, they're all made in assembly lines with tremendous efficiency and reduced costs. We believe that by addressing the issues that have prevented houses from being mass-produced in a factory, we can bring down costs and become a low-cost producer. The best example of mass production is automobile manufacturing. A Tesla or a Ford factory produces one car per minute. So why isn't anyone doing that with housing? That's our goal. Phase two is about building all the other types of structures—single-family homes, apartment buildings, townhouses, and more. That represents a much larger market. We've built a few initial prototype units and are showing them to developers and builders, hoping to sign a big contract. We had the IBS Builder Show last week, and so many people came by to tour the factory. When they compare the traditional building method to the Boxabl method, they see that the traditional way is slow, unpredictable, and costly. Contractors face changes in quotes, unexpected issues, and delays. With Boxabl, we can fix the cost for developers and build everything in the factory while they work on the site. That means while they're building the roadways and foundation, we're producing the units in our factory. This new phase of products doesn't just offer different house types; it also introduces a new way of building. We've taken everything we've learned and developed a new building technology. We expect to see lower construction costs, better structural ratings, and more customization. With the Casita, the product is very standardized, but for phase two, we can customize based on what the builder needs. Follow me, and let's take a quick look inside. This is just one example of a configuration we've created. We have several different layouts and configurations. We show these to developers and say, "Here's one of our standard models. What do you need?" and we can customize it for them. This is a two-story model, so we can stack and connect boxes to create different layouts. This particular one is a single box unit—about 800 square feet with 10-foot-high ceilings. It has a great vibe and includes a two-bedroom layout with a living area. You can see the bedroom on one side and a large closet on the other. On another note, we're continuing our crowdfunding efforts to raise money for the company. This is a huge vision, and we need to scale up our production. We need to raise funds to keep growing and reach mass production so we can reduce costs. If you want to join the journey, head over to our website, check out the invest page, and make sure to read the offering circular disclaimer before making any investment decisions. I'm going to show you another product we're really excited about—the Baby Box. This is our attempt to create an even more affordable housing solution. We plan to retail this for 20,000 USD. This is one of our first prototypes, and we have an order form on the website where you can join the waitlist. The cool thing about this product is that it's technically an RV, so it's built under a different code. This means it doesn't have to go through building departments, and it's easier to set up. You don't need a foundation or an electrician, and it can be shipped and set up very quickly. This is a minimal living space, around 120 square feet, but it's perfect for basic living. You can set it up yourself without any special equipment—just plug it in with an extension cord, and you've got a place to live. We think this is going to be a great product that people will love, and we expect to sell a lot of them. Let's take a quick look at the Casita models, and then I'll head over to a nearby project. It's a little RV park close to the factory, where we've deployed some units. You'll see how they look mid-setup as the projects are getting deployed. Here we are, just 10 minutes away from the Boxabl factory. This project replaced RVs with Boxabl Casitas. It's not finished yet, but we're almost there. They're adding decks around the units to create a nice little community. The great thing about this type of setup is that we don't need to build roads or foundations, as the RV park already has pads and electricity. We can drop a house here and have it up and running in a week. Now, let's jump into questions and answers. Make sure to type your questions in the comment box on the side, and I'll try to get through all of them. We're working hard every day to make housing affordable. It's a difficult task, but the potential upside is huge. Housing is a trillion-dollar industry, and there's a big need for someone to fix the issues. Many people are working on a solution, and we hope we're the ones who get it right. Thank you! Alright, cool. Thanks for reading. I'll jump into questions now, so keep them coming. Just a note—when it comes to live Q&As, I have to be careful with what I say since we're an exchange-act reporting company, regulated by the SEC. There are rules about how information must be disclosed, so I can't give out anything that's not public. That can bridge the gap between the end of our factory and people actually getting the keys and moving in. We're providing this product that should hopefully make the process simpler for people who want to build. Someone else is asking what's going on with new products. We've announced a bunch of things lately, and you can check out the latest on YouTube. I recommend watching those videos. There are two main things happening. One is the Baby Box, which is an even smaller house we're planning to retail for 20,000 USD. It's technically built to the RV code. We examined the friction points in building—what makes things more difficult and costly—and came up with this product because we believe it will be one of the most affordable housing solutions. It doesn't get much cheaper than 20,000 USD for a place to live. The setup is also easy; you don't need a crane. You can lift it by hand, and it has pistons that allow it to unfold. It plugs in with an extension cord, so you don't need an electrician to wire it. With that and our Phase Two products, we've taken everything we've learned over the past few years—the issues surrounding building, construction, housing regulations, and manufacturing—and applied it to these new products. We're pivoting to create high-demand products that we can scale production on. The other big announcement is what we're calling Phase Two, our plan to move into different building types. The Casita is just one fixed studio house initially designed for backyard ADUs, but we've received interest from workforce housing, military-based housing, and more. Phase Two includes different types of houses like single-family homes and apartment buildings. We approached major builders and asked about their most popular products to see how we could adapt them using our system and technology. The single-family and apartment building market is much larger than backyard ADUs, so we see a bigger total attainable market there. We've built a few initial units that you can tour in Las Vegas. Developers and companies with large housing projects can submit their interest through a form on our website, and we can discuss potential collaborations. There are many advantages to these new products, including lower costs, better structural ratings, and improvements that address various friction points, including regulatory challenges. The materials we're using should be easier for regulators to approve, speeding up timelines. Housing is not a fast process. A customer may express interest a year before they receive their product. It's a big financial commitment that requires time for decision-making, financing applications, and building permits. We've been working for years to get customers to the point where they can receive their products, signing contracts and moving forward. Someone is asking about investing. We have online offerings where people can invest and buy shares in the company. The minimum investment is 1000 USD. Investors submit their investment, make a payment, and may need to upload documents like ID. Once signed and paid, the investment is pending until we do a closing, which happens about once a month. I then countersign everyone's investment, and the contract is finalized. Someone else is asking about zoning and building codes. What we're building is a modular house, not a manufactured house. A manufactured house typically refers to mobile homes or double-wide trailer homes built to a federal HUD code. Our homes are modular, meaning they are built to the same residential building code as traditional houses but in a factory. This requires state-by-state approval. Customers submit plans to their local building department, and we provide the room module, including walls, windows, kitchen, bathroom, plumbing, electrical, and flooring. On-site, the foundation and utilities are prepared before the house is delivered. The contractor then cranes the house onto the foundation and connects the utilities. The setup process can happen in just a day or two. The rules for accessory dwelling units (ADUs) are expanding across the country. California was the first to widely legalize backyard ADUs, and about 20 percent of new construction there consists of backyard ADUs. Arizona recently passed a Casita law, which will take effect within the next year, and other states are following. Someone is asking when our next SEC report will be released. I'm not sure of the exact date, but it should be within the next few weeks and will include updated financials. Someone else is asking if resistance to our building product will decrease. I believe there is significant interest in fixing housing issues. Many politicians campaign on housing reform, and regulations are changing to reduce friction for builders. In California, for example, state law now requires building departments to approve or deny ADU permits within 60 days, whereas it used to take several months. Another person is asking about the two-bedroom Casita we announced. While many people want a studio Casita, we found that many also want a two-bedroom version, especially given the effort required to get permits and build. We are rolling this out in California and have informed our dealers, who are discussing it with customers. Selling two boxes instead of one per customer could significantly boost sales. Someone is asking how it works across all 50 states. In most states, we need approval through a state program before submitting to the building department. We are getting approval state by state, focusing on those with the highest demand and those near our Vegas factory to reduce shipping costs. For larger developer projects, we are open to discussions across the country, as we can obtain approval for specific projects as needed. Although we can't sell in every state immediately, we are making progress. Just California alone is a large enough market to sustain significant business. Someone is asking about a past share split. A couple of years ago, we did a share split, but it doesn't impact value. It only increases the number of shares while maintaining the same overall value. Another person is asking where they can see their shares after purchasing them. We use a transfer agent that maintains ownership records. After closing investments, we update the cap table every month or two. Investors can check their shares there, but as long as they have their signed contract, they own their shares. Someone is asking if they can help get local and state governments on board. Absolutely. Raising awareness and bringing our product to the attention of local officials can be very beneficial. Sometimes, politicians or government representatives are eager to support us, and they can help push approvals forward. If you're interested, you can talk to your building department or local politicians or bring Boxable to the attention of projects needing housing solutions. If you have ideas or leads, please email us at hello@Boxable. Someone is asking about tours. We offer tours during regular business hours, which can be scheduled online or done as a walk-in. We also have a Casita out front that is open 24/7 for self-guided visits. Another person is asking how inspections work. Typically, local building departments inspect construction multiple times—after the foundation, framing, and electrical are completed. That process still applies when using our homes, though our factory construction speeds up certain approvals. We are already aware of it, and that speeds things up. All the rules and laws they are creating are having an effect. I expected California to be one of the more difficult states because they have a very big government, but what actually happened was that our experience there was very positive. California turned out to be a very friendly state, and we were able to get things done quickly. We got our approvals there and even qualified for reduced inspections. In most states, every house we build needs to be inspected by an inspector, but that doesn't necessarily make sense for a factory product. Imagine if the government came into the iPhone factory and inspected every single iPhone—they would obviously slow things down and make the process more difficult. But in California, they've allowed us to do reduced inspections. Instead of inspecting every house we build, they inspect maybe one in ten or every other one. That was great, and they also told us we were the first company to ever get approved for that. I think it says a lot about the quality of our builds because they wouldn't give us that approval if we weren't doing a good job. Will you be opening factories in other parts of the world? We have big plans for expansion because our solution is a great fit for housing issues worldwide. If we can make it work in the U.S., we can copy that formula overseas. We have a form on our website where people can indicate interest. Once we are ready—we're not yet—we'll reach out to them to try and set up deals internationally. Can you give us more details about the American Building Code? We are intimately aware of all the issues that slow down housing construction and all the ways the government blocks people from building. It's not just a Boxable issue—it affects every builder. We've talked to some of the biggest builders in the country, and they all complain about rules and regulations that slow things down, many of which don't make sense and are redundant. We have a list of fixes for these issues. For example, the building code is currently thousands of pages long and dictates exactly how a house must be built. The government essentially says, "If you want to build a product and sell it, you have to do it this way." One of our ideas is to fix the building code by rewriting it to focus on safety and calculations rather than prescribing exact construction methods. Instead of saying how many pieces of wood must be used, the code should state that the house must meet specific safety standards for wind, fire, and other factors. Other suggestions include adopting California's rule requiring building departments to respond to permit applications within a certain timeframe. In some situations, we have permits sitting for six months, which is unacceptable. The building department's job isn't to design houses—it's to check if a licensed engineer and architect have signed off. There's no reason for such long delays. Our ABC initiative is a wish list of improvements to streamline the process. We're working to get other major housing-related companies to sign on so it's not just Boxable advocating for change. Government administrations trying to fix housing may not understand the exact problems or how to solve them, but we do. We want to put this wish list on their desks and say, "If you really want to fix things, here's what can be done." One major proposal is to establish a single building code for the entire country. Right now, we kind of have one, but different states use different editions. One state might use the 2012 edition while another uses the 2018 edition. There should also be a single approval process for the entire country rather than repeating the same process state by state. That would be a common-sense improvement. If you want to be a dealer, our website lists not only contractors and dealers but also services like financing and architects. Anyone can list their information there to get in front of Boxable customers. We have a lot of people aware of our company and over 100,000 interested buyers. By listing your company, you could gain customers. To be a dealer, you need to be a licensed contractor legally allowed to build a house. You sign up, enter your business information, complete our training program, and then you're online with access to leads. If you're a contractor in California and someone wants a Casita in California, that lead will show up on your Boxable site so you can reach out and bid on the installation. When a design change is made, how long does the re-review process take in California? California's system is efficient because they use approved third parties to handle approvals. We have a great third-party inspector who understands our work and can quickly approve changes. Some states require government employees to make these decisions, which slows things down. But in California, our inspector told me he could complete his part in about two weeks, which is faster than we even need. What are the requirements for dealers and developers? Developers and builders are typically customers who want to buy our product, and we're happy to sell to them. Dealers are usually general contractors licensed for construction work. Do you have closets in the units? In the Casita, we have a piece of furniture between the couch and bed that serves as a closet. In the larger units, we have built-in closets in each bedroom. Are you looking into Massachusetts ADU laws? Yes, we are aware of Massachusetts legalizing ADUs, and we see a big market there. We're working on getting approved in that state. What are the biggest states for you? For ADUs, California has the highest interest. They have passed laws to legalize them, have a large population, and are government-friendly. That's why we are rolling out our new two-bedroom model as a soft launch in California first. If it goes well, we'll expand to other states. Can I add additional funds to my investment? Yes, you can submit a new investment and buy more shares. We have a discount schedule where larger investments receive more bonus shares. Has Boxable been impacted by supply shortages? When we started, COVID caused record-breaking logistics issues and shortages. It was a struggle, but we made it through and delivered over 150 houses to the military. We learned valuable lessons and are now more proactive about securing materials and having backup plans. Do Boxables require foundations? We have two models. One is a regular house on wheels, technically an RV, so it doesn't require a foundation. The other follows residential building codes and needs a foundation, such as a slab or an appropriate structure based on soil conditions. Do you have a prototype for apartment buildings? Our Phase Two prototypes include a larger Casita (40 feet, two-bedroom) and a townhouse with a kitchen and living room on the ground floor and bedrooms upstairs. Apartments would use a similar modular configuration. Are the houses hurricane-resistant? They are rated for certain wind loads, qualifying them for most of Florida. Additional reinforcements can be added for high-wind areas like the Bahamas and Hawaii. We exceed code requirements to create a universal product that works across the country. Have you considered light-gauge steel? Yes, for our Phase Two products, we switched to light-gauge steel because it reduces costs and increases customizability. It also helps with approvals because building departments are familiar with it, avoiding unnecessary delays. What kind of warranty do you offer? We provide a one-year manufacturer's warranty and an optional seven-year extended warranty. Are the units self-sustainable or off-grid? Our room modules can connect to various utilities, including off-grid systems. Our frequently asked questions section on our website covers a variety of topics. What are the colors of the RV park? The colors were chosen by someone, possibly the owner of the RV park, but you can paint them any color you want. What is the lifespan of a Boxable unit? No different than traditional construction. We expect it to last as long or longer than a regular building. Is the trailer platform only on half of the Casita? Because the unit folds up for shipping, the full bottom of the unit is supported by the trailer, which is about eight feet wide. Once deployed, the floor that folds down does not have a trailer under it; instead, it is supported by feet or bricks. Do we have contractors in Texas? Not yet. We are not approved in Texas yet, but as soon as we are, we will open up the list. Even in states where we are not approved, we have people submitting for contracts and being added to the directory so that when we go live, we already have some contractors and services available. Is the phone app still active? I was thinking of buying some shares. To buy shares, go to boxable.com/invest. The phone app has been discontinued for now, but we hope to relaunch it in the future. Do we coordinate with local general contractors to install the units? Yes. The contractor will handle permits, foundation preparation, and coordination with us for delivery. What is the timeline for Phase Two and Baby Box? We are working on securing deals with larger customers who want to develop communities or place bulk orders. This will help kickstart construction since we do not want to build units without a project in place. What is the current share price? The share price is 80 cents. Can an investor purchase a Casita and create their own community? Yes. We welcome all customers. However, most will work with a dealer or contractor unless they are experienced in construction and permitting. How many employees do we have? We have over 100 employees, but I am unsure of the exact number. What efforts are being made to expand into more states? We are expanding state by state, prioritizing areas with the highest demand. For larger projects, we can seek approval in specific states even if we are not yet operating there. Are there plans to provide a fully end-to-end experience? Yes, that is the long-term plan. Currently, we use a contractor network because they are familiar with local regulations. However, we would like to eventually obtain contractor licenses nationwide to handle everything in-house. Do we offer financing? Yes. You can use your own bank or third-party financing options. We also have financing partners listed on our website. Dealers can also assist with financing, as some options require going through them. Are dealers fully vetted? Yes. When dealers sign up, we verify their legitimacy, check Google reviews, and ensure they are state-licensed and bonded. How long does it take from order to delivery? We have units in stock and can ship immediately, but the overall timeline depends on financing, contractor availability, and permit approvals. Financing can take a few weeks, contractor scheduling depends on availability, and building department approvals can take anywhere from two weeks to six months. Can Casitas be stacked? Yes. Our room modules can be stacked up to a certain height. We have a project on Instagram showing 12 units stacked two stories high. Phase Two products will include multi-story designs like townhouses. Will Boxable be sold in Costco or Home Depot? We have explored this possibility, but for now, sales will remain through our website. If we launch new products like Baby Box, retail partnerships may be considered. Can I place a Casita on leased or RV land? Yes, if the RV park allows it. We recommend a long-term lease since setting up the unit involves some costs. Is Phase Two built with 2x6 construction? No, Phase Two will use light-gauge steel framing, which offers better precision, strength, and other advantages. How many volts does the Baby Box require for an extension cord? It can run on a standard 20-amp extension cord, but its actual requirement is a 30-amp plug. Would having touring sites in different states help increase interest? Yes. We have a program where dealers receive a Casita to showcase in their area, allowing potential buyers to view a unit without traveling to Las Vegas. What is the focus of the company and production? Casita is our primary product, and we continue to push approvals and sales. However, our mission is to expand into various housing solutions, including Phase Two and Baby Box. How far in advance do tours need to be scheduled? You can schedule online, but walk-ins are welcome during business hours. How does the plumbing work for the Baby Box? It will have multiple connection options, including a hose hookup and a hardwired connection with a valve for flexibility. Can investors reinvest? Yes. You can submit a new investment at any time to add more shares. Can I place two Casitas in my California backyard? Yes. Our website, contact a dealer, and submit an order. The dealer will schedule a site visit to assess your property and determine installation requirements. What HVAC system do we use? We use mini-split systems, which are more energy-efficient and easier to maintain than traditional ducted systems. Does the Baby Box need a foundation? No, since it remains on wheels. However, securing it to a foundation is recommended in high-wind areas. Can we do a live unboxing demonstration? Not today, but there are many videos available on our website. Dealers also receive live training sessions. What is the planned price for the two-bedroom model? The planned price is 110,000 USD for the room modules. Do we use different materials for warm and cold climates? No, the materials are the same. Additional insulation may be available in Phase Two, but the goal is to maintain internal temperatures regardless of climate. Do we have exclusive territories for dealers? No. We encourage competition among dealers to provide the best for our customers. Would a real-time build or time-lapse video be possible? That is a great idea, and we may set one up for a future project. Is there international interest? Yes, we receive inquiries from all over the world. Housing challenges exist globally, and we believe our solution has broad appeal. Who are the biggest competitors? Factory-built housing is still a small industry. The biggest players are mobile home manufacturers like Cavco, Clayton, Champion, and Skyline Homes, which benefit from federal HUD regulations. However, those regulations also limit where their homes can be placed. We believe our approach offers a more flexible and scalable solution. How much per square foot for an ADU in California? It averages around 350 USD per square foot. Smaller homes have higher per-square-foot because certain expenses are fixed regardless of size. Boxable aims to provide a much more affordable option. </div> |
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