Data / Crowdfunding / Michigan / Commongrounds Cooperative
Commongrounds Cooperative: crowdfunding raise on MainVest, Inc., $100,000 to $1,000,000 (2023)
Commongrounds Cooperative, a corporation in Traverse City, MI, filed a Form C with the SEC on June 14, 2023 to raise $100,000 to $1,000,000 in Investment Certificates through MainVest, Inc.. The offering closed on October 31, 2023. In its most recent fiscal year it reported $0 in revenue and a net loss of $106,146, with 2 employees.
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- Website
- www.commongrounds.coop
- Funding portal
- MainVest, Inc.
- Address
- 425 BOARDMAN AVE SUITE C, Traverse City, MI 49684
- Legal form
- Corporation
- Jurisdiction
- MI
- Incorporated
- March 22, 2018
- SEC CIK
- 0001768621
Offering terms
From the amendment filed June 14, 2023.
- Security
- Investment Certificates
- Price
- $1.00
- Target
- $100,000
- Maximum
- $1,000,000
- Deadline
- October 31, 2023
- Portal compensation
- MainVest will be paid 5.0% of the final offering amount, upon the successful completion of the offering. MainVest does not receive compensation if the offering does not succeed.
Financials
From the Form C-U filed November 1, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-106,146 | $0 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $77,330 | $0 | sec.gov |
| Cash | $0 | $0 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $165,325 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| November 1, 2023 | Progress update | $100,000 | $1,000,000 | October 31, 2023 | At the close of the offering, the issuer closed on $128,500. The funds are currently being processed. The actual amount may be lower. | sec.gov |
| June 14, 2023 | Amendment | $100,000 | $1,000,000 | October 31, 2023 | Issuer is extending the deadline to make an investment. | sec.gov |
| April 21, 2023 | Amendment | $100,000 | $1,000,000 | June 19, 2023 | Issuer is extending the deadline to make an investment. | sec.gov |
| January 19, 2023 | Offering | $100,000 | $1,000,000 | May 1, 2023 | sec.gov | |
| August 11, 2022 | Progress update | $100,000 | $1,500,000 | August 1, 2022 | At the close of the offering, the issuer closed on $430,900. The funds are currently being processed. The actual amount may be lower. | sec.gov |
| June 1, 2022 | Amendment | $100,000 | $1,500,000 | August 1, 2022 | Issuer is extending the deadline to make an investment. | sec.gov |
| April 1, 2022 | Amendment | $100,000 | $1,500,000 | June 1, 2022 | Issuer is extending the deadline to make an investment. | sec.gov |
| January 31, 2022 | Amendment | $100,000 | $1,500,000 | April 1, 2022 | Issuer is extending the deadline to make an investment. | sec.gov |
| December 2, 2021 | Amendment | $100,000 | $1,500,000 | February 1, 2022 | Issuer is extending the deadline to make an investment. | sec.gov |
| October 8, 2021 | Offering | $100,000 | $1,500,000 | December 3, 2021 | sec.gov | |
| May 3, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| December 30, 2019 | Progress update | Not listed | Not listed | Offering Closing. Total amount raised under Regulation Crowdfunding: $272,450 | sec.gov | |
| August 19, 2019 | Amendment | $250,000 | $1,070,000 | December 31, 2019 | 2018 Reviewed financial statements are now available | sec.gov |
| February 21, 2019 | Offering | $250,000 | $1,070,000 | December 31, 2019 | sec.gov |
Updated November 1, 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.