Data / Crowdfunding / Maryland / Benson Watch Company, LLC
Benson Watch Company, LLC: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2021)
Benson Watch Company, LLC, a limited liability company in Clinton, MD, filed a Form C with the SEC on May 7, 2021 to raise $25,000 to $1,070,000 in Crowd SAFE through OpenDeal Portal LLC. The offering closed on September 30, 2021. In its most recent fiscal year it reported $317,093 in revenue and $65,355 in net income.
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- Website
- www.bensonwatch.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 10202 DEEP CREEK CT, Clinton, MD 20735
- Legal form
- Limited Liability Company
- Jurisdiction
- MD
- Incorporated
- January 14, 2015
- SEC CIK
- 0001836520
Offering terms
From the amendment filed May 7, 2021.
- Security
- Crowd SAFE
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- September 30, 2021
- Portal compensation
- 6% of offering proceeds.
Financials
From the Form C-U filed October 4, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $317,093 | $26,627 | sec.gov |
| Cost of goods sold | $54,001 | $20,429 | sec.gov |
| Net income | $65,355 | $-36,698 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $87,180 | $25,799 | sec.gov |
| Cash | $31,808 | $1,356 | sec.gov |
| Accounts receivable | $22,161 | $0 | sec.gov |
| Short-term debt | $5,886 | $5,356 | sec.gov |
| Long-term debt | $39,709 | $44,213 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| October 4, 2021 | Progress update | $25,000 | $1,070,000 | September 30, 2021 | The Offering closed successfully on 10/01/2021, having received investment commitments of $399,536.00, although a final accounting has not taken place. | sec.gov |
| May 7, 2021 | Amendment | $25,000 | $1,070,000 | September 30, 2021 | 1) FYE 2020 Financial Statements; 2) Max offering to $1,070,000; 3) Deadline 9/30/2021; 4) Crowd SAFE (expand "IPO" definition / subsequent investor document requirements); 5) rolling close process; 6) correction of prior Form C/A filings | sec.gov |
| May 4, 2021 | Amendment | $25,000 | $1,070,000 | September 30, 2021 | 1) FYE 2020 Financial Statements; 2) Increase max offering to $1,070,000; 3) extend offering to 9/30/2021; 4) amend Crowd SAFE (expand "IPO" definition / effect of investor failure to execute subsequent conversion documents); 5) rolling close process | sec.gov |
| April 30, 2021 | Amendment | $25,000 | $250,000 | April 30, 2021 | 1) updated reviewed FYE 2020 financials; 2) increase max offering amount from $250,000 to $1,070,000; 3) extend offering deadline from 4/30/2021 to 9/30/2021; 4) amend Crowd SAFE including definition of IPO and investor conversion requirements. | sec.gov |
| February 16, 2021 | Offering | $25,000 | $250,000 | April 30, 2021 | sec.gov |
Updated October 4, 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.