Data / Crowdfunding / California / FirstRoot, Inc.
FirstRoot, Inc.: crowdfunding raise on NetCapital Funding Portal Inc., $10,000 to $1,067,220 (2021)
FirstRoot, Inc., a corporation in Sunnyvale, CA, filed a Form C with the SEC on September 29, 2021 to raise $10,000 to $1,067,220 in common stock through NetCapital Funding Portal Inc.. The offering closed on October 20, 2021. In its most recent fiscal year it reported $58,482 in revenue and a net loss of $818,081, with 1 employees.
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- Website
- www.firstroot.co
- Funding portal
- NetCapital Funding Portal Inc.
- Address
- 1111 WEST EL CAMINO REAL #133 #310, Sunnyvale, CA 94087
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 7, 2020
- SEC CIK
- 0001859173
Offering terms
From the amendment filed September 29, 2021.
- Security
- Common Stock
- Price
- $0.42
- Target
- $10,000
- Maximum
- $1,067,220
- Deadline
- October 20, 2021
- Portal compensation
- Up to 4.9% of amount raised for a successful offering and a listing fee of up to $5,000
Financials
From the Form C-AR filed April 25, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $58,482 | $78,583 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-818,081 | $-143,016 | sec.gov |
| Taxes paid | $1,639 | $0 | sec.gov |
| Total assets | $466,274 | $418,764 | sec.gov |
| Cash | $196,904 | $149,529 | sec.gov |
| Accounts receivable | $895 | $10,480 | sec.gov |
| Short-term debt | $560,781 | $830,389 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 25, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| December 3, 2021 | Progress update | $10,000 | $1,067,220 | October 20, 2021 | End of offering. Issuer closed its offering with estimated gross proceeds of $624,484. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption. | sec.gov |
| September 29, 2021 | Amendment | $10,000 | $1,067,220 | October 20, 2021 | corrected a clerical error with regards to class a common shares. | sec.gov |
| July 19, 2021 | Amendment | $10,000 | $1,067,220 | October 20, 2021 | issuer extended the offering date. | sec.gov |
| June 16, 2021 | Amendment | $10,000 | $1,067,220 | July 20, 2021 | issuer added information under the "market" section of the offering page. | sec.gov |
| May 19, 2021 | Offering | $10,000 | $1,067,220 | July 20, 2021 | sec.gov |
Updated April 25, 2022. 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.