Data / Crowdfunding / Delaware / Baobab Clothing Inc
Baobab Clothing Inc: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2020)
Baobab Clothing Inc, a corporation in Dover, DE, filed a Form C with the SEC on October 13, 2020 to raise $25,000 to $1,070,000 in Crowd Safe Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 15, 2021. In its most recent fiscal year it reported $340,297 in revenue and a net loss of $136,821, with 2 employees.
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- Website
- www.baobabclothing.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 8 The Green, Suite A, Dover, DE 19901
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- November 18, 2016
- SEC CIK
- 0001827319
Offering terms
From the offering filed October 13, 2020.
- Security
- Crowd Safe Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- April 15, 2021
- Portal compensation
- The issuer shall pay to the Intermediary at the conclusion of the Offering a fee of six percent (6%) of the amount raised in the offering.
Financials
From the Form C-AR filed May 3, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $340,297 | $247,856 | sec.gov |
| Cost of goods sold | $178,181 | $81,370 | sec.gov |
| Net income | $-136,821 | $29,398 | sec.gov |
| Taxes paid | $0 | $11,985 | sec.gov |
| Total assets | $292,790 | $108,507 | sec.gov |
| Cash | $8,414 | $89,774 | sec.gov |
| Accounts receivable | $22 | $0 | sec.gov |
| Short-term debt | $97,963 | $79,194 | sec.gov |
| Long-term debt | $247,700 | $15,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| April 19, 2021 | Progress update | $25,000 | $1,070,000 | April 15, 2021 | The Offering closed successfully on April 16, 2021, having received investment commitments of $104,159, although a final accounting has not taken place. | sec.gov |
| October 13, 2020 | Offering | $25,000 | $1,070,000 | April 15, 2021 | sec.gov |
Updated May 3, 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.