Data / Crowdfunding / California / Bit Body, Inc.
Bit Body, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $5,000,000 (2023)
Bit Body, Inc., a corporation in San Francisco, CA, filed a Form C with the SEC on April 27, 2023 to raise $50,000 to $5,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 29, 2024. In its most recent fiscal year it reported $4,487,782 in revenue and a net loss of $811,724, with 8 employees.
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- Website
- www.mtailor.com
- Funding portal
- Wefunder Portal LLC
- Address
- 548 Market St PMB 80182, San Francisco, CA 94104
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- September 6, 2012
- SEC CIK
- 0001947048
Offering terms
From the amendment filed April 27, 2023.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $5,000,000
- Deadline
- April 29, 2024
- Portal compensation
- 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C/A filed April 27, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $4,487,782 | $5,106,805 | sec.gov |
| Cost of goods sold | $1,870,069 | $1,980,937 | sec.gov |
| Net income | $-811,724 | $49,188 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,828,056 | $1,401,626 | sec.gov |
| Cash | $772,500 | $428,908 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $1,259,140 | $571,864 | sec.gov |
| Long-term debt | $1,328,422 | $526,628 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 27, 2023 | Amendment | $50,000 | $5,000,000 | April 29, 2024 | Added 2022 financial statements to extend the close date, updated Question 28 of the Form C | sec.gov |
| February 13, 2023 | Amendment | $50,000 | $5,000,000 | April 30, 2023 | Adding audited financial statements, increasing maximum to $5,000,000, updating cash on hand, increasing Early Bird threshold | sec.gov |
| December 19, 2022 | Amendment | $50,000 | $1,235,000 | April 30, 2023 | Increasing campaign maximum from $1,070,000 to $1,235,000 | sec.gov |
| October 14, 2022 | Amendment | $50,000 | $1,070,000 | April 30, 2023 | Increasing Early Bird threshold to $1,000,000, and increasing non-early bird valuation cap to $33,000,000. | sec.gov |
| September 29, 2022 | Offering | $50,000 | $1,070,000 | April 30, 2023 | sec.gov |
Updated April 27, 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.