Cinelounge crowdfunding campaign falls short of goal but raises $58k
A crowdfunding campaign launched by Tiburon’s downtown movie theater has raised $58,280, just under half of the original $124,000 goal set by owner Christian Meoli.
Meoli posted the campaign Oct. 31 with the goal of raising funds to help Cinelounge pay down its debt, finance equipment upgrades and expand its presence in the community. The campaign, dubbed CINX, offered the public the opportunity to purchase uninsured bonds at an 11.25% interest rate to be paid back monthly over three years. There were 12,400 bonds available for $10 a bond.