Data / Crowdfunding / New York / Axle Workout Inc.
Axle Workout Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2022)
Axle Workout Inc., a corporation in New York, NY, filed a Form C with the SEC on February 14, 2022 to raise $25,000 to $1,070,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 30, 2022. In its most recent fiscal year it reported $680,196 in revenue and a net loss of $110,724.
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- Website
- www.theaxleworkout.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 17 CHITTENDEN AVENUE 5D, New York, NY 10033
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- November 21, 2016
- SEC CIK
- 0001857848
Offering terms
From the amendment filed February 14, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- April 30, 2022
- 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 May 3, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $680,196 | $262,723 | sec.gov |
| Cost of goods sold | $355,530 | $117,797 | sec.gov |
| Net income | $-110,724 | $-37,309 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $569,863 | $289,237 | sec.gov |
| Cash | $41,409 | $21,343 | sec.gov |
| Accounts receivable | $6,310 | $0 | sec.gov |
| Short-term debt | $112,876 | $79,218 | sec.gov |
| Long-term debt | $515,259 | $157,567 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 5, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 3, 2022 | Progress update | $25,000 | $1,070,000 | April 30, 2022 | The Offering closed successfully on 4/30/2022, having received investment commitments of $142,968.28, although a final accounting has not taken place. | sec.gov |
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| February 14, 2022 | Amendment | $25,000 | $1,070,000 | April 30, 2022 | This Amendment is filed to (i) extend the Offering Deadline to April 30, 2022; and (ii) amend the percentage the Company can withdraw from escrow upon an Initial Closing from half to seventy percent (70%). | sec.gov |
| December 14, 2021 | Amendment | $25,000 | $1,070,000 | March 28, 2022 | This Amendment is filed to replace the existing Exhibit A with updated reviewed financials. | sec.gov |
| November 30, 2021 | Offering | $25,000 | $1,070,000 | March 28, 2022 | sec.gov |
Updated May 5, 2022. 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.