Data / Crowdfunding / California / ElectroSpit Inc.
ElectroSpit Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $535,000 (2022)
ElectroSpit Inc., a corporation in Oakland, CA, filed a Form C with the SEC on August 5, 2022 to raise $25,000 to $535,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on December 28, 2022. In its most recent fiscal year it reported $140,954 in revenue and a net loss of $156,274, with 4 employees.
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- Website
- ElectroSpit.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 4400 KELLER AVENUE SUITE 140, PMB 118, Oakland, CA 94605
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- November 15, 2017
- SEC CIK
- 0001731736
Offering terms
From the offering filed August 5, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $535,000
- Deadline
- December 28, 2022
- 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 27, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $140,954 | $290,536 | sec.gov |
| Cost of goods sold | $86,832 | $112,456 | sec.gov |
| Net income | $-156,274 | $127,147 | sec.gov |
| Taxes paid | $284 | $0 | sec.gov |
| Total assets | $252,749 | $355,001 | sec.gov |
| Cash | $44,702 | $229,554 | sec.gov |
| Accounts receivable | $121,692 | $0 | sec.gov |
| Short-term debt | $32,142 | $49,418 | sec.gov |
| Long-term debt | $254,200 | $312,040 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 27, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 27, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| January 3, 2023 | Progress update | $25,000 | $535,000 | December 28, 2022 | The Offering closed successfully on 12/29/2022, having received investment commitments of $133,805, although a final accounting has not taken place. | sec.gov |
| August 5, 2022 | Offering | $25,000 | $535,000 | December 28, 2022 | sec.gov | |
| May 3, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| June 16, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| October 8, 2019 | Progress update | $25,000 | $107,000 | September 30, 2019 | $63,831 in investments. Payments still being received; final number not yet determined. | sec.gov |
| September 10, 2019 | Amendment | $25,000 | $107,000 | September 30, 2019 | This amendment is filed to add a webinar transcript as Exhibit G. | sec.gov |
| July 31, 2019 | Offering | $25,000 | $107,000 | September 30, 2019 | sec.gov |
Updated April 27, 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.