Data / Crowdfunding / Massachusetts / GeoOrbital Inc.
GeoOrbital Inc.: crowdfunding raise on StartEngine Capital, LLC, $9,996 to $1,069,992 (2019)
GeoOrbital Inc., a corporation in Somerville, MA, filed a Form C with the SEC on April 8, 2019 to raise $9,996 to $1,069,992 in Common Non-Voting Shares through StartEngine Capital, LLC. The offering closed on April 30, 2019. In its most recent fiscal year it reported $2,046,883 in revenue and a net loss of $831,330, with 7 employees.
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- Website
- www.geoo.com
- Funding portal
- StartEngine Capital, LLC
- Address
- 17 PROPERZI WAY,, Somerville, MA 02413
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- August 7, 2014
- SEC CIK
- 0001706908
Offering terms
From the amendment filed April 8, 2019.
- Security
- Common Non-Voting Shares
- Price
- $14.00
- Target
- $9,996
- Maximum
- $1,069,992
- Deadline
- April 30, 2019
- Portal compensation
- 6 percent
Financials
From the Form C-U filed November 5, 2019.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $2,046,883 | $36,764 | sec.gov |
| Cost of goods sold | $2,001,604 | $59,130 | sec.gov |
| Net income | $-831,330 | $-534,783 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $699,126 | $1,199,675 | sec.gov |
| Cash | $103,311 | $407,725 | sec.gov |
| Accounts receivable | $170,922 | $0 | sec.gov |
| Short-term debt | $1,302,152 | $1,625,238 | sec.gov |
| Long-term debt | $805,838 | $170,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| November 5, 2019 | Progress update | $9,996 | $1,069,992 | April 30, 2019 | Adjustment to the initial Form C-U filing of 08/01/2019. At the close of the offering, the issuer closed on $394,884 and 29,806 securities. | sec.gov |
| August 1, 2019 | Progress update | $9,996 | $1,069,992 | April 30, 2019 | At the close of the offering, the issuer closed on $297,962 and 22,430 securities. | sec.gov |
| August 1, 2019 | Withdrawal | Not listed | Not listed | sec.gov | ||
| May 2, 2019 | Progress update | $9,996 | $1,069,992 | April 30, 2019 | The amount raised at the time of closing is $1,065,739. | sec.gov |
| May 1, 2019 | Progress update | $9,996 | $1,069,992 | April 30, 2019 | At the close of the offering, the issuer closed on $297,962 and 22,430 number of securities. | sec.gov |
| April 8, 2019 | Amendment | $9,996 | $1,069,992 | April 30, 2019 | Issuer is extending the length of their campaign by 22 days. | sec.gov |
| February 8, 2019 | Amendment | $9,996 | $1,069,992 | April 12, 2019 | Issuer is extending the length of their campaign by 60 days. | sec.gov |
| December 11, 2018 | Progress update | $9,996 | $1,069,992 | February 11, 2019 | The amount raised at the time of closing is $1,065,739 | sec.gov |
| December 7, 2018 | Amendment | $9,996 | $1,069,992 | February 11, 2019 | Issuer is extending the length of their campaign by 60 days. | sec.gov |
| October 10, 2018 | Offering | $9,996 | $1,069,992 | December 11, 2018 | sec.gov | |
| September 28, 2018 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| May 9, 2018 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| April 30, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| April 20, 2018 | Progress update | $50,000 | $1,000,000 | April 17, 2018 | At the close of the offering, the amount closed on is $1,070,000.00 and 1,070,000 number of securities sold, final amount subject to change pending final receipt of committed investments. | sec.gov |
| March 1, 2018 | Amendment | $50,000 | $1,000,000 | April 17, 2018 | Issuer will be extending the end date of their offering and removing a board member. | sec.gov |
| January 16, 2018 | Amendment | $50,000 | $1,000,000 | March 2, 2018 | Issuer will be extending the end date of their offering | sec.gov |
| December 14, 2017 | Amendment | $50,000 | $1,000,000 | January 19, 2018 | Updated offering document not included in previous amendment | sec.gov |
| December 4, 2017 | Amendment | $50,000 | $1,000,000 | January 19, 2018 | Extending the end date and added a new executive officer. | sec.gov |
| October 18, 2017 | Amendment | $50,000 | $1,000,000 | December 4, 2017 | Annual report clarification and issuer is extending the end date of their offering. | sec.gov |
| September 19, 2017 | Amendment | $50,000 | $1,000,000 | October 19, 2017 | Issuer is extending the end date of their offering by 30 days. | sec.gov |
| August 1, 2017 | Amendment | $50,000 | $1,000,000 | September 18, 2017 | Issuer is extending the end date of their offering. | sec.gov |
| May 23, 2017 | Offering | $50,000 | $1,000,000 | July 31, 2017 | sec.gov |
Updated November 5, 2019. 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.