Data / Crowdfunding / California / Discotech, Inc.
Discotech, Inc.: crowdfunding raise on Wefunder Portal LLC, $100,000 to $1,000,000 (2016)
Discotech, Inc., a corporation in Los Angeles, CA, filed a Form C with the SEC on October 12, 2016 to raise $100,000 to $1,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on October 17, 2016. In its most recent fiscal year it reported $116,730 in revenue and a net loss of $83,890, with 5 employees.
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- Website
- www.discotech.me
- Funding portal
- Wefunder Portal LLC
- Address
- 928 N Western Avenue PH7, Los Angeles, CA 90029
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- October 7, 2013
- SEC CIK
- 0001679664
Offering terms
From the amendment filed October 12, 2016.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $100,000
- Maximum
- $1,000,000
- Deadline
- October 17, 2016
- Portal compensation
- 3.0% of the offering amount upon a successful fundraise.
Financials
From the Form C-U filed November 3, 2016.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $116,730 | $35,596 | sec.gov |
| Cost of goods sold | $16,163 | $7,548 | sec.gov |
| Net income | $-83,890 | $-78,722 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $187,737 | $249,450 | sec.gov |
| Cash | $66,031 | $200,425 | sec.gov |
| Accounts receivable | $30,156 | $3,473 | sec.gov |
| Short-term debt | $991 | $3,595 | sec.gov |
| Long-term debt | $430,138 | $405,988 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| November 3, 2016 | Progress update | $100,000 | $1,000,000 | November 3, 2016 | $127,938 in investments. Payments are still being processed; final number is yet to be determined. The deadline date was set to today to work around an EDGAR glitch but the offering actually closed on 10-17-16. | sec.gov |
| October 12, 2016 | Amendment | $100,000 | $1,000,000 | October 17, 2016 | Update deadline date, include video transcripts and updated business plan. | sec.gov |
| August 10, 2016 | Offering | $100,000 | $1,000,000 | February 6, 2017 | sec.gov |
Updated November 3, 2016. 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.