Data / Crowdfunding / Massachusetts / Axle AI, Inc.
Axle AI, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $428,000 (2021)
Axle AI, Inc., a corporation in Boston, MA, filed a Form C with the SEC on June 10, 2021 to raise $25,000 to $428,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on September 30, 2021. In its most recent fiscal year it reported $667,119 in revenue and a net loss of $209,608, with 2 employees.
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- Website
- www.axle.ai
- Funding portal
- OpenDeal Portal LLC
- Address
- 38 FENWAY, Boston, MA 02215
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 12, 2018
- SEC CIK
- 0001752964
Offering terms
From the offering filed June 10, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $428,000
- Deadline
- September 30, 2021
- 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 September 28, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $667,119 | $859,455 | sec.gov |
| Cost of goods sold | $64,594 | $90,504 | sec.gov |
| Net income | $-209,608 | $-442,804 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $236,697 | $180,652 | sec.gov |
| Cash | $93,992 | $9,255 | sec.gov |
| Accounts receivable | $111,318 | $137,933 | sec.gov |
| Short-term debt | $258,437 | $274,774 | sec.gov |
| Long-term debt | $347,511 | $174,662 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| September 28, 2021 | Progress update | $25,000 | $428,000 | September 30, 2021 | The Offering closed successfully on 9/28/2021 having received investment commitments of $380,295.01, although a final accounting has not taken place. | sec.gov |
| June 10, 2021 | Offering | $25,000 | $428,000 | September 30, 2021 | sec.gov | |
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| June 24, 2020 | Progress update | $25,000 | $107,000 | June 23, 2020 | The Offering closed successfully on June 24, 2020, having received investment commitments of $107,000, although a final accounting has not taken place. | sec.gov |
| June 16, 2020 | Amendment | $25,000 | $107,000 | June 23, 2020 | The previously filed Form C/A contained a scrivener's error, the offering deadline is being shortened to June 23, 2020. | sec.gov |
| June 16, 2020 | Amendment | $25,000 | $107,000 | June 22, 2020 | The Issuer, having met its target offering amount, is shortening the deadline in compliance with Reg CF Rule 304(b) to June 22, 2020. | sec.gov |
| May 12, 2020 | Amendment | $25,000 | $107,000 | July 11, 2020 | The Form C is hereby amended to amend the financial statements in Exhibit C | sec.gov |
| March 18, 2020 | Amendment | $25,000 | $107,000 | July 11, 2020 | The Form C is hereby amended to fix a scrivener's error on page 9. | sec.gov |
| March 16, 2020 | Offering | $25,000 | $107,000 | July 11, 2020 | sec.gov | |
| March 13, 2020 | Progress update | $25,000 | $1,070,000 | December 14, 2018 | The issuer failed to meet their minimum offering. | sec.gov |
| November 2, 2018 | Amendment | $25,000 | $1,070,000 | December 14, 2018 | Added disclosure relating to 2017 tax return extension. | sec.gov |
| November 2, 2018 | Amendment | $25,000 | $1,070,000 | December 14, 2018 | Updated maximum offering amount to $1,070,000. Added Reviewed Financials. Updated deadline to 12/14/2018. | sec.gov |
| October 10, 2018 | Amendment | $25,000 | $107,000 | December 7, 2018 | Updated maximum offering amount to $107,000. | sec.gov |
| October 10, 2018 | Offering | $25,000 | $1,070,000 | December 7, 2018 | sec.gov |
Updated September 28, 2021. 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.