Data / Crowdfunding / New York / Asaak Financial Services Ltd
Asaak Financial Services Ltd: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $535,000 (2022)
Asaak Financial Services Ltd, a corporation in New York, NY, filed a Form C with the SEC on August 17, 2022 to raise $25,000 to $535,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 27, 2023. In its most recent fiscal year it reported $1,065,078 in revenue and a net loss of $256,388, with 3 employees.
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- Website
- www.asaak.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 245 8TH AVENUE 1101, New York, NY 10011
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- March 6, 2017
- SEC CIK
- 0001822345
Offering terms
From the offering filed August 17, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $535,000
- Deadline
- April 27, 2023
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-U filed February 3, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,065,078 | $201,207 | sec.gov |
| Cost of goods sold | $254,494 | $97,757 | sec.gov |
| Net income | $-256,388 | $-186,651 | sec.gov |
| Taxes paid | $840 | $166 | sec.gov |
| Total assets | $8,136,656 | $2,445,985 | sec.gov |
| Cash | $1,124,734 | $329,742 | sec.gov |
| Accounts receivable | $60 | $0 | sec.gov |
| Short-term debt | $2,880,654 | $1,025,806 | sec.gov |
| Long-term debt | $2,406,515 | $516,834 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| February 3, 2023 | Progress update | $25,000 | $535,000 | April 27, 2023 | The Offering closed successfully on 1/28/2023, having received investment commitments of $289,221.16, although a final accounting has not taken place. | sec.gov |
| August 17, 2022 | Offering | $25,000 | $535,000 | April 27, 2023 | sec.gov | |
| August 17, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 12, 2021 | Progress update | $25,000 | $1,070,000 | April 30, 2021 | The Offering closed successfully on April 10, 2021, having received investment commitments of $913,713 although a final accounting has not taken place. | sec.gov |
| March 17, 2021 | Amendment | $25,000 | $1,070,000 | April 30, 2021 | This amendment is being filed to increase the maximum offering amount, provide reviewed financial statements, and provide amplified risk factors and update capitalization information. The amendment also includes changes to the Crowd SAFE. | sec.gov |
| February 23, 2021 | Offering | $25,000 | $250,000 | April 30, 2021 | sec.gov |
Updated February 3, 2023. 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.