Data / Crowdfunding / California / GenesisAI Corporation
GenesisAI Corporation: crowdfunding raise on NetCapital Funding Portal Inc., $10,000 to $3,044,972 (2024)
GenesisAI Corporation, a corporation in Albany, CA, filed a Form C with the SEC on December 2, 2024 to raise $10,000 to $3,044,972 in common stock through NetCapital Funding Portal Inc.. The offering closed on December 6, 2024. In its most recent fiscal year it reported $9,145 in revenue and a net loss of $1,620,839, with 4 employees.
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- Website
- www.genesisai.io
- Funding portal
- NetCapital Funding Portal Inc.
- Address
- 530 Kinkead Way, Albany, CA 94706
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 3, 2018
- SEC CIK
- 0001797609
Offering terms
From the amendment filed December 2, 2024.
- Security
- Common Stock
- Price
- $4.25
- Target
- $10,000
- Maximum
- $3,044,972
- Deadline
- December 6, 2024
- Portal compensation
- Up to 4.9% of amount raised for a successful offering and a listing fee of up to $10,000
Financials
From the Form C-U filed February 21, 2025.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $9,145 | $8,122 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-1,620,839 | $-2,539,154 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $243,319 | $519,795 | sec.gov |
| Cash | $189,246 | $452,795 | sec.gov |
| Accounts receivable | $2,073 | $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 |
|---|---|---|---|---|---|---|
| February 21, 2025 | Progress update | $10,000 | $3,044,972 | December 6, 2024 | End of offering. Issuer closed its offering with estimated gross proceeds of $765,446. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption. | sec.gov |
| December 2, 2024 | Amendment | $10,000 | $3,044,972 | December 6, 2024 | removed two advisors from the offering page | sec.gov |
| September 30, 2024 | Amendment | $10,000 | $3,044,972 | December 6, 2024 | company extended the offering deadline. | sec.gov |
| July 25, 2024 | Amendment | $10,000 | $3,044,972 | September 30, 2024 | issuer extended the offering deadline. | sec.gov |
| April 30, 2024 | Amendment | $10,000 | $3,044,972 | July 26, 2024 | the issuer extended the offering deadline and updated the offering to include 2023 financial statements | sec.gov |
| March 21, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| March 20, 2024 | Amendment | $10,000 | $3,044,972 | April 27, 2024 | issuer extended the offering | sec.gov |
| January 11, 2024 | Amendment | $10,000 | $3,044,972 | March 29, 2024 | issuer extended the offering deadline. | sec.gov |
| December 7, 2023 | Amendment | $10,000 | $3,044,972 | January 12, 2024 | updated text in faq and introduction sections | sec.gov |
| November 28, 2023 | Amendment | $10,000 | $3,044,972 | January 12, 2024 | removed a team member from the offering page. | sec.gov |
| October 31, 2023 | Amendment | $10,000 | $3,044,972 | January 12, 2024 | issuer extended the offering deadline. | sec.gov |
| October 3, 2023 | Amendment | $10,000 | $3,044,972 | October 30, 2023 | issuer added text in solution section of the offering page. | sec.gov |
| August 29, 2023 | Amendment | $10,000 | $3,044,972 | October 30, 2023 | the issuer extended the offering deadline and updated the team section in the offering page. | sec.gov |
| June 30, 2023 | Amendment | $10,000 | $3,044,972 | August 31, 2023 | the issuer extended the offering deadline. | sec.gov |
| June 8, 2023 | Amendment | $10,000 | $3,044,972 | June 30, 2023 | made changes to previously raised banner on offering page. | sec.gov |
| May 2, 2023 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| May 1, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2023 | Amendment | $10,000 | $3,044,972 | June 30, 2023 | the issuer extended the offering deadline and updated the offering to include 2022 financials. | sec.gov |
| February 21, 2023 | Amendment | $10,000 | $3,044,972 | April 28, 2023 | issuer update the risk section. | sec.gov |
| January 25, 2023 | Amendment | $10,000 | $3,044,972 | April 28, 2023 | the issuer extended the offering deadline. | sec.gov |
| January 19, 2023 | Amendment | $10,000 | $3,044,972 | January 26, 2023 | the issuer filed a file number adjustment. | sec.gov |
| January 12, 2023 | Amendment | $10,000 | $3,044,972 | January 26, 2023 | the issuer added "previously raised" banner in the introduction. | sec.gov |
| November 7, 2022 | Amendment | $10,000 | $3,044,972 | January 26, 2023 | the issuer extended the offering deadline. | sec.gov |
| September 12, 2022 | Amendment | $10,000 | $3,044,972 | November 10, 2022 | issuer made changes to the team section of the offering page. | sec.gov |
| August 3, 2022 | Amendment | $10,000 | $3,044,972 | November 10, 2022 | the issuer added a disclaimer to the video. | sec.gov |
| July 19, 2022 | Amendment | $10,000 | $3,044,972 | November 10, 2022 | issuer made updates to the team section of the offering page. | sec.gov |
| July 11, 2022 | Amendment | $10,000 | $3,044,972 | November 10, 2022 | the issuer added other financial information document. | sec.gov |
| July 8, 2022 | Offering | $10,000 | $3,044,972 | November 10, 2022 | sec.gov | |
| April 26, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| October 28, 2021 | Withdrawal | Not listed | Not listed | sec.gov | ||
| September 30, 2021 | Offering | $10,000 | $1,400,496 | March 29, 2022 | sec.gov | |
| September 29, 2021 | Progress update | $50,000 | $1,070,000 | April 17, 2020 | Final dollar amount sold $625,390.00 under a SAFE instrument | sec.gov |
| September 13, 2021 | Progress update | $10,009 | $3,800,005 | July 17, 2021 | End of offering. Issuer closed its offering with estimated gross proceeds of $2,573,950. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption. | sec.gov |
| July 9, 2021 | Amendment | $10,009 | $3,800,005 | July 17, 2021 | the issuer extended the offering date and made an edit to risk 10. | sec.gov |
| June 28, 2021 | Amendment | $10,009 | $3,800,005 | July 9, 2021 | the issuer extended the offering date. | sec.gov |
| June 11, 2021 | Amendment | $10,009 | $3,800,005 | June 30, 2021 | the issuer added the board of advisors section to the offering page. | sec.gov |
| June 4, 2021 | Amendment | $10,009 | $3,800,005 | June 30, 2021 | issuer updated the video on their offering page, pitchdeck and added an extra disclosure in section 31 of the offering statement. | sec.gov |
| May 28, 2021 | Amendment | $10,009 | $3,800,005 | June 30, 2021 | the issuer updated chief executive officer(archil cheishvili) compensation and benefits as well updated the offering with 12 | sec.gov |
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| April 7, 2021 | Offering | $10,009 | $1,070,000 | April 30, 2021 | sec.gov | |
| April 1, 2021 | Progress update | $10,001 | $1,070,000 | March 23, 2021 | End of offering. Issuer closed its offering with estimated gross proceeds of $1,199,984. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption. | sec.gov |
| March 17, 2021 | Amendment | $10,001 | $1,070,000 | March 23, 2021 | issuer increased the 4(a)(6) allocation to take advantage of the new reg cf rules. issuer has $1,393,414 allocated under 4(a)(6). | sec.gov |
| February 12, 2021 | Amendment | $10,001 | $444,608 | March 23, 2021 | the issuer extended the offering date. | sec.gov |
| January 13, 2021 | Amendment | $10,001 | $444,608 | February 15, 2021 | the issuer extended the offering date. | sec.gov |
| December 28, 2020 | Amendment | $10,001 | $444,608 | January 15, 2021 | issuer extended the offering date. | sec.gov |
| December 14, 2020 | Amendment | $10,001 | $444,608 | December 31, 2020 | issuer extended the offering date. | sec.gov |
| November 27, 2020 | Amendment | $10,001 | $444,608 | December 15, 2020 | the issuer extended the offering date. | sec.gov |
| November 13, 2020 | Amendment | $10,001 | $444,608 | November 30, 2020 | the issuer extended the offering date. | sec.gov |
| October 29, 2020 | Amendment | $10,001 | $444,608 | November 16, 2020 | issuer extended the offering date. | sec.gov |
| September 30, 2020 | Amendment | $10,001 | $444,608 | October 30, 2020 | minor disclosure added to the "terms" section of the offering page. | sec.gov |
| September 25, 2020 | Amendment | $10,001 | $444,608 | October 31, 2020 | the issuer extended the offering date. | sec.gov |
| July 17, 2020 | Offering | $10,001 | $444,608 | October 1, 2020 | sec.gov | |
| February 10, 2020 | Amendment | $50,000 | $1,070,000 | April 17, 2020 | Added reviewed financial statements for 2018. Updated use of funds for maximum raise. | sec.gov |
| December 24, 2019 | Offering | $50,000 | $107,000 | April 17, 2020 | sec.gov |
Updated February 21, 2025. 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.