Data / Crowdfunding / Pennsylvania / Gab AI Inc.
Gab AI Inc.: crowdfunding raise on COVA CAPITAL PARTNERS LLC, $500,000 to $4,999,500 (2023)
Gab AI Inc., a corporation in Clarks Summit, PA, filed a Form C with the SEC on May 24, 2023 to raise $500,000 to $4,999,500 in Class D Non-Voting Common Stock. through COVA CAPITAL PARTNERS LLC. The offering closed on December 31, 2023. In its most recent fiscal year it reported $1,726,169 in revenue and a net loss of $73,094, with 5 employees.
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- Website
- gab.com
- Funding portal
- COVA CAPITAL PARTNERS LLC
- Address
- 1143 NORTHERN BLVD #158, Clarks Summit, PA 18411
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- September 9, 2016
- SEC CIK
- 0001709244
Offering terms
From the amendment filed May 24, 2023.
- Security
- Class D Non-Voting Common Stock.
- Price
- $33.00
- Target
- $500,000
- Maximum
- $4,999,500
- Deadline
- December 31, 2023
- Portal compensation
- The issuer shall pay to the intermediary at the conclusion of the offering a fee consisting of five percent (5%) commission based on the amount of investments raised in the offering and paid upon disbursement of funds from escrow at the time of closing.
Financials
From the Form C-AR filed April 23, 2026.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,726,169 | $1,915,333 | sec.gov |
| Cost of goods sold | $60,711 | $128,813 | sec.gov |
| Net income | $-73,094 | $-96,538 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,863,151 | $1,961,487 | sec.gov |
| Cash | $139,877 | $278,538 | sec.gov |
| Accounts receivable | $425,000 | $425,000 | sec.gov |
| Short-term debt | $45,705 | $79,558 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 23, 2026 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 23, 2026 | Annual report | Not listed | Not listed | sec.gov | ||
| April 16, 2025 | Annual report | Not listed | Not listed | sec.gov | ||
| April 29, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| May 24, 2023 | Amendment | $500,000 | $4,999,500 | December 31, 2023 | This amendment is filed to change the deadline to reach the target offering amount to December 31, 2023, and make certain updates to the Offering Memorandum relating to the company's risk factors. | sec.gov |
| April 4, 2023 | Amendment | $500,000 | $4,999,500 | October 3, 2023 | This amendment is filed to change the escrow agent, change the deadline to reach the target offering amount to October 3, 2023, and make certain updates to the Offering Memorandum relating to the company's products and services and capitalization. | sec.gov |
| February 1, 2023 | Amendment | $500,000 | $4,999,500 | August 1, 2023 | This amendment is filed to change the intermediary and escrow agent, change the target offering amount for this offering from $1,000,000 to $500,000 and change the deadline to reach the target offering amount to August 1, 2023. | sec.gov |
| December 20, 2022 | Amendment | $1,000,000 | $4,999,500 | June 19, 2023 | This amendment is to correct a scrivener's error appearing in the line items regarding Net Income Most Recent Fiscal Year-end and Net Income Prior Fiscal year-end in the html webform. | sec.gov |
| December 20, 2022 | Offering | $1,000,000 | $4,999,500 | June 19, 2023 | sec.gov | |
| February 4, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 29, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| June 25, 2019 | Progress update | $9,999 | $1,000,000 | September 8, 2017 | At the close of the offering, the issuer closed on $1,060,525.18 and 265,604 number of securities. | sec.gov |
| April 26, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| November 20, 2018 | Progress update | $10,000 | $1,070,000 | November 19, 2018 | At the close of the offering, the issuer closed on $1,070,000 and 267,947 number of securities. | sec.gov |
| November 1, 2018 | Amendment | $10,000 | $1,070,000 | November 19, 2018 | Addition of material risk factors and resignation of CTO along with update to use of proceeds and clarification of the blockchain based business model. | sec.gov |
| September 19, 2018 | Offering | $10,000 | $1,070,000 | November 19, 2018 | sec.gov | |
| March 26, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| September 18, 2017 | Progress update | $9,999 | $1,000,000 | September 8, 2017 | The amount of securities sold at the close of the offering was $1,069,999.70. | sec.gov |
| August 7, 2017 | Amendment | $9,999 | $1,000,000 | September 8, 2017 | The issuer is adding a new perk which allows a 10% price per share discount when investing $50,000 or more. | sec.gov |
| July 11, 2017 | Offering | $9,999 | $1,000,000 | September 8, 2017 | sec.gov |
Updated April 23, 2026. 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.