Data / Crowdfunding / Maryland / Arbit, Inc.
Arbit, Inc.: crowdfunding raise on First Democracy VC, $50,000 to $425,000 (2017)
Arbit, Inc., a corporation in Baltimore, MD, filed a Form C with the SEC on November 3, 2017 to raise $50,000 to $425,000 in Crowd Safe (Simple Agreement for Future Equity) Units through First Democracy VC. The offering closed on November 6, 2017. In its most recent fiscal year it reported $23,278 in revenue and a net loss of $352,456, with 2 employees.
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- Website
- www.askarbit.com
- Funding portal
- First Democracy VC
- Address
- 900 E Fort Ave Suite 308, Baltimore, MD 21230
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- June 13, 2016
- SEC CIK
- 0001680729
Offering terms
From the amendment filed November 3, 2017.
- Security
- Crowd Safe (Simple Agreement for Future Equity) Units
- Price
- $1.00
- Target
- $50,000
- Maximum
- $425,000
- Deadline
- November 6, 2017
- Portal compensation
- 7.0%
Financials
From the Form C-AR filed April 29, 2019.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $23,278 | $1,994 | sec.gov |
| Cost of goods sold | $3,163 | $0 | sec.gov |
| Net income | $-352,456 | $-403,405 | sec.gov |
| Taxes paid | $0 | $12,534 | sec.gov |
| Total assets | $204,477 | $572,010 | sec.gov |
| Cash | $204,477 | $532,036 | sec.gov |
| Accounts receivable | $0 | $39,974 | sec.gov |
| Short-term debt | $10,409 | $21,004 | sec.gov |
| Long-term debt | $129,343 | $129,343 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 29, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| April 30, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| November 7, 2017 | Progress update | $50,000 | $425,000 | October 10, 2017 | The issuer raised approximately $700,000 during the offering period. Payments are still being processed; the exact amount has yet to be determined. | sec.gov |
| November 3, 2017 | Amendment | $50,000 | $425,000 | November 6, 2017 | This Amendment is filed to add the transcript a webinar. | sec.gov |
| October 26, 2017 | Amendment | $50,000 | $425,000 | November 6, 2017 | The maximum offering amount has been revised from to $700,000. | sec.gov |
| October 10, 2017 | Amendment | $50,000 | $425,000 | November 6, 2017 | The deadline has been updated to 11/6/2017 | sec.gov |
| August 8, 2017 | Amendment | $50,000 | $425,000 | October 10, 2017 | Updating the filing to add an enhanced video presentation. | sec.gov |
| August 7, 2017 | Amendment | $50,000 | $425,000 | October 10, 2017 | Updated Exhibit E Pitch Deck with Legal Notice | sec.gov |
| August 4, 2017 | Amendment | $50,000 | $425,000 | October 10, 2017 | Updated Exhibit E Pitch Deck with Legal Notice | sec.gov |
| August 4, 2017 | Offering | $50,000 | $425,000 | October 10, 2017 | sec.gov |
Updated April 29, 2019. 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.