Data / Crowdfunding / Florida / Franklin & Cortlandt Vinyl LLC
Franklin & Cortlandt Vinyl LLC: crowdfunding raise on First Democracy VC, $50,000 to $100,000 (2017)
Franklin & Cortlandt Vinyl LLC, a limited liability company in Opa Locka, FL, filed a Form C with the SEC on October 6, 2017 to raise $50,000 to $100,000 in SAFE Units through First Democracy VC. The offering closed on October 16, 2017. In its most recent fiscal year it reported $419,418 in revenue and a net loss of $293,095, with 10 employees.
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- Website
- www.sunpressvinyl.com
- Funding portal
- First Democracy VC
- Address
- 14097 NW 19TH AVENUE, Opa Locka, FL 33054
- Legal form
- Limited Liability Company
- Jurisdiction
- FL
- Incorporated
- April 28, 2016
- SEC CIK
- 0001710938
Offering terms
From the amendment filed October 6, 2017.
- Security
- SAFE Units
- Price
- $1.00
- Target
- $50,000
- Maximum
- $100,000
- Deadline
- October 16, 2017
- Portal compensation
- 7.0%
Financials
From the Form C-AR filed May 14, 2018.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $419,418 | $5,997 | sec.gov |
| Cost of goods sold | $253,069 | $1,609 | sec.gov |
| Net income | $-293,095 | $-239,177 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $482,675 | $157,822 | sec.gov |
| Cash | $16,104 | $4,054 | sec.gov |
| Accounts receivable | $111,042 | $3,026 | sec.gov |
| Short-term debt | $116,453 | $0 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 14, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| October 20, 2017 | Progress update | $50,000 | $100,000 | September 13, 2017 | The issuer raised approximately $57,654 during the offering period. Payments are still being processed; the exact amount has yet to be determined. | sec.gov |
| October 6, 2017 | Amendment | $50,000 | $100,000 | October 16, 2017 | Update with new video transcript about the company | sec.gov |
| September 14, 2017 | Amendment | $50,000 | $100,000 | October 16, 2017 | Extended close date (10/16/17); Revised estimated cost of plating and cutting equipment and remaining balance of $165k; Update equipment financing from original price of $300k to $215k; and 4) Updated financials from June month-end to August month-end | sec.gov |
| September 14, 2017 | Amendment | $50,000 | $100,000 | October 16, 2017 | Extended close date (10/16/17); Revised estimated cost of plating and cutting equipment and remaining balance of $165k; Update equipment financing from original price of $300k to $215k; and 4) Updated financials from June month-end to August month-end | sec.gov |
| September 13, 2017 | Amendment | $50,000 | $100,000 | October 16, 2017 | The Closing Date for this offering has been changed to October 16th, 2017. | sec.gov |
| September 13, 2017 | Progress update | $50,000 | $100,000 | September 13, 2017 | The close date of this offering is changing to October 16, 2017 | sec.gov |
| August 10, 2017 | Amendment | $50,000 | $100,000 | September 13, 2017 | Adding the webinar transcript. | sec.gov |
| July 19, 2017 | Offering | $50,000 | $100,000 | September 13, 2017 | sec.gov |
Updated May 14, 2018. 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.