Data / Crowdfunding / Massachusetts / Cortex Automation Inc.
Cortex Automation Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $3,930,000 (2021)
Cortex Automation Inc., a corporation in Boston, MA, filed a Form C with the SEC on November 5, 2021 to raise $25,000 to $3,930,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on February 22, 2022. In its most recent fiscal year it reported $145,958 in revenue and a net loss of $803,936.
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- Website
- www.meetcortex.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 791 TREMONT STREET UNIT W516, Boston, MA 02118
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- May 5, 2014
- SEC CIK
- 0001619790
Offering terms
From the offering filed November 5, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $3,930,000
- Deadline
- February 22, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of (i) 4% of the amount raised in the offering up to$2,000,000; and (ii) 2% of the amount raised in the offering exceeding $2,000,000 but not exceeding $5,000,000 to the Intermediary.
Financials
From the Form C-AR filed April 14, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $145,958 | $291,190 | sec.gov |
| Cost of goods sold | $106,218 | $87,415 | sec.gov |
| Net income | $-803,936 | $-1,052,674 | sec.gov |
| Taxes paid | $1,864 | $456 | sec.gov |
| Total assets | $49,172 | $297,302 | sec.gov |
| Cash | $46,985 | $250,621 | sec.gov |
| Accounts receivable | $17,608 | $61,908 | sec.gov |
| Short-term debt | $11,212 | $53,659 | sec.gov |
| Long-term debt | $0 | $100,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 14, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 14, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 8, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| February 23, 2022 | Progress update | $25,000 | $3,930,000 | February 22, 2022 | The Offering closed successfully on 2/23/2022, having received investment commitments of $747,689.04, although a final accounting has not taken place. | sec.gov |
| November 5, 2021 | Offering | $25,000 | $3,930,000 | February 22, 2022 | sec.gov | |
| October 18, 2021 | Progress update | $250,000 | $1,069,999 | April 30, 2022 | The final number is $1,069,865.39 in investments. | sec.gov |
| February 22, 2021 | Amendment | $250,000 | $1,069,999 | April 30, 2021 | Extending offering. | sec.gov |
| December 2, 2020 | Offering | $250,000 | $1,069,999 | February 15, 2021 | sec.gov |
Updated April 14, 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.