Data / Crowdfunding / Massachusetts / Akua Life, PBC
Akua Life, PBC: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $618,000 (2023)
Akua Life, PBC, a corporation in Cotuit, MA, filed a Form C with the SEC on August 9, 2023 to raise $25,000 to $618,000 in Crowd Safe (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on October 16, 2023. In its most recent fiscal year it reported $508,885 in revenue and a net loss of $2,100,750, with 2 employees.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- akua.co
- Funding portal
- OpenDeal Portal LLC
- Address
- 110 CLAMSHELL COVE, Cotuit, MA 02635
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- December 30, 2016
- SEC CIK
- 0001827592
Offering terms
From the amendment filed August 9, 2023.
- Security
- Crowd Safe (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $618,000
- Deadline
- October 16, 2023
- Portal compensation
- At the conclusion of the offering, the issuer shall pay the Intermediary a fee of five point four percent (5.4%) of the amount raised in the Offering.
Financials
From the Form C-U filed October 18, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $508,885 | $450,947 | sec.gov |
| Cost of goods sold | $386,157 | $296,245 | sec.gov |
| Net income | $-2,100,750 | $-1,099,976 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,863,295 | $3,976,787 | sec.gov |
| Cash | $1,399,433 | $3,549,911 | sec.gov |
| Accounts receivable | $60,536 | $6,764 | sec.gov |
| Short-term debt | $84,673 | $373,327 | sec.gov |
| Long-term debt | $1,070,000 | $835,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 15, 2024 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| October 18, 2023 | Progress update | $25,000 | $618,000 | October 16, 2023 | The Offering closed successfully on 10/17/2023, having received investment commitments of $276,966.33, although a final accounting has not taken place. | sec.gov |
| August 9, 2023 | Amendment | $25,000 | $618,000 | October 16, 2023 | Issuer has extended the deadline of the offering from August 16, 2023 to October 16, 2023. | sec.gov |
| May 18, 2023 | Offering | $25,000 | $618,000 | August 16, 2023 | sec.gov | |
| April 28, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| April 26, 2021 | Progress update | $25,000 | $1,070,000 | April 23, 2021 | The Offering closed successfully on April 24, 2021, having received investment commitments of $1,070,000, although a final accounting has not taken place. | sec.gov |
| March 26, 2021 | Amendment | $25,000 | $1,070,000 | April 23, 2021 | The issuer is extending the offering deadline to 4/23/2021, providing add'l disclosure under previous offerings of securities, updating disclosure regarding the rolling close process, and correcting scrivener's error in title header of the Crowd SAFE. | sec.gov |
| November 10, 2020 | Offering | $25,000 | $1,070,000 | March 31, 2021 | sec.gov |
Updated May 15, 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.