Data / Crowdfunding / Utah / edify.ai, Inc
edify.ai, Inc: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $3,000,000 (2021)
edify.ai, Inc, a corporation in Salt Lake City, UT, filed a Form C with the SEC on June 21, 2021 to raise $25,000 to $3,000,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on October 31, 2021. In its most recent fiscal year it reported $556,083 in revenue and a net loss of $502,822, with 3 employees.
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- Website
- www.edify.ai
- Funding portal
- OpenDeal Portal LLC
- Address
- 669 SOUTH WEST TEMPLE, SUITE 222, Salt Lake City, UT 84101
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- May 31, 2018
- SEC CIK
- 0001809210
Offering terms
From the amendment filed June 21, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $3,000,000
- Deadline
- October 31, 2021
- 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 29, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $556,083 | $445,759 | sec.gov |
| Cost of goods sold | $816,006 | $421,203 | sec.gov |
| Net income | $-502,822 | $-29,738 | sec.gov |
| Taxes paid | $1,451 | $0 | sec.gov |
| Total assets | $2,464,982 | $1,277,291 | sec.gov |
| Cash | $82,854 | $57,724 | sec.gov |
| Accounts receivable | $626,276 | $27,300 | sec.gov |
| Short-term debt | $1,974,906 | $1,008,729 | sec.gov |
| Long-term debt | $1,474,500 | $745,300 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| March 30, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 29, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| November 1, 2021 | Progress update | $25,000 | $3,000,000 | October 31, 2021 | The Offering closed successfully on 11/01/2021, having received investment commitments of $89,672.00, although a final accounting has not taken place. | sec.gov |
| June 21, 2021 | Amendment | $25,000 | $3,000,000 | October 31, 2021 | This Form C/A is being filed to correct a scrivener's error in the table identifying Revenue/Sales for 2019 and adding disclosure for a commission sharing agreement by the Intermediary. | sec.gov |
| June 15, 2021 | Offering | $25,000 | $3,000,000 | October 31, 2021 | sec.gov | |
| June 15, 2021 | Withdrawal | Not listed | Not listed | sec.gov | ||
| November 9, 2020 | Offering | $200,000 | $1,070,000 | March 4, 2021 | sec.gov |
Also on SpecStream
Updated March 30, 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.