Data / Crowdfunding / Massachusetts / Brass Clothing LLC
Brass Clothing LLC: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $500,000 (2020)
Brass Clothing LLC, a limited liability company in Wayland, MA, filed a Form C with the SEC on October 30, 2020 to raise $25,000 to $500,000 in Crowd Safe Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on December 7, 2020. In its most recent fiscal year it reported $676,929 in revenue and a net loss of $108,399, with 3 employees.
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- Website
- brassclothing.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 12 Lundy Ln, Wayland, MA 01778
- Legal form
- Limited Liability Company
- Jurisdiction
- DE
- Incorporated
- May 16, 2018
- SEC CIK
- 0001811444
Offering terms
From the amendment filed October 30, 2020.
- Security
- Crowd Safe Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $500,000
- Deadline
- December 7, 2020
- 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 2, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $676,929 | $790,596 | sec.gov |
| Cost of goods sold | $347,632 | $505,479 | sec.gov |
| Net income | $-108,399 | $-169,878 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $377,429 | $184,090 | sec.gov |
| Cash | $172,968 | $37,467 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $85,064 | $316,994 | sec.gov |
| Long-term debt | $929,250 | $733,685 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| December 8, 2020 | Progress update | $25,000 | $500,000 | December 7, 2020 | The Offering closed successfully on December 8, 2020, having received investment commitments of $78,800, although a final accounting has not taken place. | sec.gov |
| October 30, 2020 | Amendment | $25,000 | $500,000 | December 7, 2020 | Company is hereby extending its campaign until December 7, 2020. | sec.gov |
| July 14, 2020 | Amendment | $25,000 | $500,000 | November 6, 2020 | The Company is clarifying that its principal place of business is in Massachusetts, not New York. | sec.gov |
| July 10, 2020 | Offering | $25,000 | $500,000 | November 6, 2020 | sec.gov |
Updated May 2, 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.