Data / Crowdfunding / California / Ember Fund, Inc.
Ember Fund, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $5,000,000 (2022)
Ember Fund, Inc., a corporation in Los Angeles, CA, filed a Form C with the SEC on May 20, 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 August 31, 2022. In its most recent fiscal year it reported $653,647 in revenue and a net loss of $5,768,210, with 10 employees.
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- Website
- emberfund.io
- Funding portal
- OpenDeal Portal LLC
- Address
- 12130 MILLENNIUM DRIVE 02-174 OFFICE 03-102, Los Angeles, CA 90094
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 12, 2019
- SEC CIK
- 0001783580
Offering terms
From the amendment filed May 20, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $5,000,000
- Deadline
- August 31, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a cash fee to the Intermediary equal to: (i) 6% of any amounts raised up to $2,000,000 (ii) 4% of any amounts raised from $2,000,000.01 - $4,000,000, (iii) 3% of any amounts raised from $4,000,000.01
Financials
From the Form C-AR filed May 1, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $653,647 | $1,392,642 | sec.gov |
| Cost of goods sold | $364,666 | $70,076 | sec.gov |
| Net income | $-5,768,210 | $-1,592,639 | sec.gov |
| Taxes paid | $3,824 | $5,324 | sec.gov |
| Total assets | $3,958,826 | $5,167,904 | sec.gov |
| Cash | $290,842 | $2,667,234 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $64,645 | $1,498,972 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 1, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 1, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| July 20, 2022 | Progress update | $25,000 | $5,000,000 | August 31, 2022 | The Offering closed successfully on 7/7/2022, having received investment commitments of $4,852,508.10, although a final accounting has not taken place. | sec.gov |
| May 20, 2022 | Amendment | $25,000 | $5,000,000 | August 31, 2022 | This material amendment is filed to (1) increase the Maximum Offering Amount from $2M to $5M, (2) change the valuation cap in the Conversion mechanism of the Securities from $100M to $80M, (3) reduce the Minimum Individual Purchase Amount from $250 to $50, | sec.gov |
| May 12, 2022 | Offering | $25,000 | $2,000,000 | August 31, 2022 | sec.gov | |
| April 27, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 27, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| May 1, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| March 31, 2020 | Progress update | $25,000 | $1,070,000 | March 30, 2020 | The Offering closed successfully on 3/30, having received investment commitments of $609,827, although a final accounting has not taken place. | sec.gov |
| January 21, 2020 | Amendment | $25,000 | $1,070,000 | March 30, 2020 | This Form C-A filing correctly acknowledges the materiality of the amendment. | sec.gov |
| January 21, 2020 | Amendment | $25,000 | $1,070,000 | March 30, 2020 | The Form C is hereby amended to extend the offering deadline to March 30, 2020. | sec.gov |
| November 1, 2019 | Offering | $25,000 | $1,070,000 | January 31, 2020 | sec.gov |
Also on SpecStream
Updated May 1, 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.