Data / Crowdfunding / California / Drop Delivery Inc.
Drop Delivery Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $5,000,000 (2022)
Drop Delivery Inc., a corporation in Venice, CA, filed a Form C with the SEC on October 19, 2022 to raise $25,000 to $5,000,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on February 28, 2023. In its most recent fiscal year it reported $1,108,633 in revenue and a net loss of $64,636, with 2 employees.
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- Website
- www.dropdelivery.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 2554 LINCOLN BLVD #405, Venice, CA 90921
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- June 14, 2019
- SEC CIK
- 0001817102
Offering terms
From the offering filed October 19, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $5,000,000
- Deadline
- February 28, 2023
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-AR filed April 25, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,108,633 | $739,264 | sec.gov |
| Cost of goods sold | $214,308 | $226,441 | sec.gov |
| Net income | $-64,636 | $-803,206 | sec.gov |
| Taxes paid | $0 | $800 | sec.gov |
| Total assets | $22,504 | $26,161 | sec.gov |
| Cash | $14,705 | $19,151 | sec.gov |
| Accounts receivable | $1,088 | $7,010 | sec.gov |
| Short-term debt | $218,481 | $230,225 | sec.gov |
| Long-term debt | $14,101 | $36,482 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 25, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 25, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| January 27, 2023 | Progress update | $25,000 | $5,000,000 | February 28, 2023 | The Offering closed successfully on 1/22/2023, having received investment commitments of $212,779, although a final accounting has not taken place. | sec.gov |
| October 19, 2022 | Offering | $25,000 | $5,000,000 | February 28, 2023 | sec.gov | |
| October 14, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| July 9, 2020 | Amendment | $25,000 | $1,070,000 | July 8, 2021 | This Amendment is filed to extend the Offering deadline to July 8th, 2021, to correct the filing date and to include exhibits A through E. | sec.gov |
| July 8, 2020 | Offering | $25,000 | $1,070,000 | July 2, 2021 | sec.gov |
Updated April 25, 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.