Data / Crowdfunding / New York / FT1 Inc.
FT1 Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2021)
FT1 Inc., a corporation in Merrick, NY, filed a Form C with the SEC on August 12, 2021 to raise $25,000 to $1,070,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on August 31, 2021. In its most recent fiscal year it reported $123,451 in revenue and a net loss of $148,692, with 2 employees.
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- Website
- fundthefirst.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 2009 DECKER AVE, Merrick, NY 11566
- Legal form
- Corporation
- Jurisdiction
- NY
- Incorporated
- July 24, 2019
- SEC CIK
- 0001811447
Offering terms
From the amendment filed August 12, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- August 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 28, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $123,451 | $35,991 | sec.gov |
| Cost of goods sold | $1,157 | $638 | sec.gov |
| Net income | $-148,692 | $-211,543 | sec.gov |
| Taxes paid | $647 | $0 | sec.gov |
| Total assets | $1,131,041 | $689,675 | sec.gov |
| Cash | $1,008,165 | $583,535 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 28, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| September 1, 2021 | Progress update | $25,000 | $1,070,000 | August 31, 2021 | The Offering closed successfully on 09/01/2021, having received investment commitments of $117,997.00, although a final accounting has not taken place | sec.gov |
| August 12, 2021 | Amendment | $25,000 | $1,070,000 | August 31, 2021 | (i) modify Directors, Officers and Managers table, and information herein regarding executive offices and directors, to reflect the resignation of two executive officers and directors of the Company, and (ii) extend Offering Deadline to August 31, 2021 | sec.gov |
| April 12, 2021 | Offering | $25,000 | $1,070,000 | August 12, 2021 | sec.gov |
Updated April 28, 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.