Data / Crowdfunding / Massachusetts / Arco Technologies Inc.
Arco Technologies Inc.: crowdfunding raise on PicMii Crowdfunding LLC, $9,994 to $1,235,000 (2024)
Arco Technologies Inc., a corporation in Somerville, MA, filed a Form C with the SEC on July 31, 2024 to raise $9,994 to $1,235,000 in common stock through PicMii Crowdfunding LLC. The offering closed on September 1, 2024. In its most recent fiscal year it reported $621,775 in revenue and a net loss of $1,230,362, with 12 employees.
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- Website
- www.arco.tech
- Funding portal
- PicMii Crowdfunding LLC
- Address
- 444 SOMERVILLE AVE, Somerville, MA 02143
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 4, 2022
- SEC CIK
- 0001998661
Offering terms
From the amendment filed July 31, 2024.
- Security
- Common Stock
- Price
- $7.60
- Target
- $9,994
- Maximum
- $1,235,000
- Deadline
- September 1, 2024
- Portal compensation
- $2,000 payable to the issuer upon the commencement of the campaign. Additional 5.15% of the final raised amount.
Financials
From the Form C-U filed December 12, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $621,775 | $125,742 | sec.gov |
| Cost of goods sold | $424,235 | $24,344 | sec.gov |
| Net income | $-1,230,362 | $-200,067 | sec.gov |
| Taxes paid | $12,006 | $3,500 | sec.gov |
| Total assets | $1,055,191 | $1,184,918 | sec.gov |
| Cash | $104,491 | $116,566 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $1,257,501 | $167,234 | sec.gov |
| Long-term debt | $19,115 | $8,747 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| December 12, 2024 | Progress update | $9,994 | $1,235,000 | September 1, 2024 | Arco Technologies raised $467,415.20 at the end of their offering. | sec.gov |
| July 31, 2024 | Amendment | $9,994 | $1,235,000 | September 1, 2024 | The campaign is being extended to September 1, 2024. | sec.gov |
| May 17, 2024 | Amendment | $9,994 | $1,235,000 | July 31, 2024 | There is only an entity that is a beneficial owner of Arco Technologies, so the only beneficial owner in that entity was, Angelo D'Anzi (already a director/officer), was specified. | sec.gov |
| May 13, 2024 | Amendment | $9,994 | $1,235,000 | July 31, 2024 | Reviewed financials were added for 2023 in order to extend the offering deadline to July 31, 2024. Also, two directors resigned and one new one was added. Additionally, Angelo D'Anzi was appointed as CEO. The oversubscription amount also was reduced. | sec.gov |
| April 25, 2024 | Amendment | $9,994 | $1,799,999 | April 29, 2024 | Issuer is extending raise to April 29th, 2024. | sec.gov |
| December 15, 2023 | Amendment | $9,994 | $1,799,999 | April 25, 2024 | Adjusting the maximum raise amount from 4,999,994.4 to $1,799,999.2. | sec.gov |
| December 14, 2023 | Offering | $9,994 | $4,999,994 | April 25, 2024 | sec.gov |
Updated December 12, 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.