Data / Crowdfunding / California / ACFN Franchised Inc.
ACFN Franchised Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $5,000,000 (2022)
ACFN Franchised Inc., a corporation in San Jose, CA, filed a Form C with the SEC on October 5, 2022 to raise $25,000 to $5,000,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 20, 2023. In its most recent fiscal year it reported $14,671,059 in revenue and a net loss of $76,864, with 18 employees.
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- Website
- www.acfn-solutions.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 4 NORTH 2ND STREET SUITE 1240, San Jose, CA 95113
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- October 3, 2002
- SEC CIK
- 0001944335
Offering terms
From the offering filed October 5, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $5,000,000
- Deadline
- April 20, 2023
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of a) six percent (6%) of any amounts raised up to two million dollars ($0 - $2,000,000) in the offering to the Intermediary, b) four percent (4%) of any amounts raised exceeding two million dol
Financials
From the Form C-AR filed January 29, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $14,671,059 | $11,135,875 | sec.gov |
| Cost of goods sold | $12,199,846 | $9,255,355 | sec.gov |
| Net income | $-76,864 | $66,136 | sec.gov |
| Taxes paid | $67,899 | $2,000 | sec.gov |
| Total assets | $1,291,107 | $1,834,588 | sec.gov |
| Cash | $551,585 | $1,144,846 | sec.gov |
| Accounts receivable | $232,082 | $166,713 | sec.gov |
| Short-term debt | $1,976,665 | $2,265,144 | sec.gov |
| Long-term debt | $534,195 | $829,104 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| January 29, 2024 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| January 29, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| March 30, 2023 | Progress update | $25,000 | $5,000,000 | April 20, 2023 | The Offering closed successfully on 3/23/2023, having received investment commitments of $276,681.18, although a final accounting has not taken place. | sec.gov |
| October 5, 2022 | Offering | $25,000 | $5,000,000 | April 20, 2023 | sec.gov |
Updated January 29, 2024. Read from SEC EDGAR. Public domain (U.S. government work). Financials are as each company reported them in its Form C, unaudited unless the filing says otherwise. Websites are the ones the companies declared to the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.