Data / Crowdfunding / California / California Labs, Inc.
California Labs, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $579,265 (2023)
California Labs, Inc., a corporation in San Francisco, CA, filed a Form C with the SEC on December 13, 2023 to raise $50,000 to $579,265 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 $1,214,505 in revenue and a net loss of $546,144, with 3 employees.
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- Website
- joinloop.com
- Funding portal
- Wefunder Portal LLC
- Address
- 1540 Market St. Suite 100, San Francisco, CA 94102
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- March 7, 2014
- SEC CIK
- 0001652039
Offering terms
From the amendment filed December 13, 2023.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $579,265
- Deadline
- April 29, 2024
- Portal compensation
- 7.5% 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 December 13, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,214,505 | $770,496 | sec.gov |
| Cost of goods sold | $771,531 | $287,418 | sec.gov |
| Net income | $-546,144 | $-597,205 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $937,028 | $1,508,546 | sec.gov |
| Cash | $44,706 | $226,664 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $5,075,729 | $5,130,442 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| December 13, 2023 | Amendment | $50,000 | $579,265 | April 29, 2024 | Adding VIP terms | sec.gov |
| April 21, 2023 | Amendment | $50,000 | $579,265 | April 29, 2024 | Additional 2022 financials and campaign extension | sec.gov |
| February 17, 2023 | Offering | $50,000 | $579,265 | April 30, 2023 | sec.gov | |
| June 30, 2022 | Progress update | $9,998 | $1,069,995 | June 29, 2022 | At the close of the offering, the issuer closed on $38,734.44 and 30,039 number of securities. | sec.gov |
| April 28, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2022 | Amendment | $9,998 | $1,069,995 | June 29, 2022 | Issuer is extending the campaign and updating their financials per the most recent fiscal year. Please also note that this Form C features the correct terms (valuation, price per share, funding goal, maximum and minimum investment) throughout the document. | sec.gov |
| March 24, 2022 | Offering | $9,999 | $1,069,996 | April 30, 2022 | sec.gov | |
| March 8, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| October 8, 2019 | Progress update | $25,000 | $1,070,000 | October 4, 2019 | The issuer raised approximately $255,350 during the offering period. Payment are still being processed; the exact amount has yet to be determined. | sec.gov |
| August 30, 2019 | Amendment | $25,000 | $1,070,000 | October 4, 2019 | Addition of Reviewed Financials, increase of maximum offering amount from $107,000 to $1,070,000, and update the deadline to reach the target offering amount from 11/8/2019 to 10/4/2019. | sec.gov |
| August 7, 2019 | Offering | $25,000 | $107,000 | November 8, 2019 | sec.gov |
Updated December 13, 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.