Data / Crowdfunding / California / Gravity Power Inc
Gravity Power Inc: crowdfunding raise on PicMii Crowdfunding LLC, $9,999 to $999,999 (2025)
Gravity Power Inc, a corporation in Santa Barbara, CA, filed a Form C with the SEC on January 17, 2025 to raise $9,999 to $999,999 in Preferred B-2 Stock through PicMii Crowdfunding LLC. The offering closed on April 2, 2025. In its most recent fiscal year it reported $0 in revenue and a net loss of $390,497, with 3 employees.
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- Website
- www.gravitypower.net
- Funding portal
- PicMii Crowdfunding LLC
- Address
- 945 WARD DRIVE, #28, Santa Barbara, CA 93101
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 21, 2023
- SEC CIK
- 0001757969
Offering terms
From the amendment filed January 17, 2025.
- Security
- Preferred B-2 Stock
- Price
- $0.75
- Target
- $9,999
- Maximum
- $999,999
- Deadline
- April 2, 2025
- Portal compensation
- PicMii is a FINRA/SEC registered funding portal and will receive cash compensation equal to 4.90% of the value of the securities sold through Regulation CF and a $2,500 upfront payment
Financials
From the Form C/A filed January 17, 2025.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-390,497 | $-404,797 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $155,250 | $96,795 | sec.gov |
| Cash | $62,725 | $864 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $54,886 | $1,979,066 | sec.gov |
| Long-term debt | $87,992 | $1,959,852 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| January 17, 2025 | Amendment | $9,999 | $999,999 | April 2, 2025 | Gravity Power is extending their campaign to April 2, 2025 | sec.gov |
| November 1, 2024 | Amendment | $9,999 | $999,999 | January 2, 2025 | Gravity Power is extending their campaign to January 2, 2024. | sec.gov |
| October 1, 2024 | Amendment | $9,999 | $999,999 | November 1, 2024 | Gravity Power is extending their campaign to November 1, 2024. | sec.gov |
| August 1, 2024 | Amendment | $9,999 | $999,999 | September 30, 2024 | Gravity Power is extending their campaign to September 30, 2024. Additionally, they're adding their reviewed 2023 financials and increasing their oversubscription amount. There was also an error in the offering statement corrected for valuation. | sec.gov |
| June 4, 2024 | Amendment | $9,999 | $123,999 | July 31, 2024 | Gravity Power is extending their campaign to July 31, 2024. | sec.gov |
| April 30, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| April 29, 2024 | Amendment | $9,999 | $123,999 | June 3, 2024 | Gravity Power is extending their campaign to June 3, 2024, adding 2023 financial statements, and reducing their oversubscription amount to $123,999.75 to stay in compliance with Reg CF. | sec.gov |
| April 26, 2024 | Amendment | $9,999 | $999,999 | April 29, 2024 | Gravity Power is extending their campaign one day to April 29, 2024. | sec.gov |
| March 25, 2024 | Offering | $9,999 | $999,999 | April 28, 2024 | sec.gov | |
| December 29, 2023 | Progress update | $9,999 | $1,234,999 | December 11, 2023 | At the close of the offering, the issuer closed on $232,624.69 and 382,853 number of securities. | sec.gov |
| November 6, 2023 | Amendment | $9,999 | $1,234,999 | December 11, 2023 | New main video added | sec.gov |
| October 6, 2023 | Amendment | $9,999 | $1,234,999 | December 11, 2023 | Issuer is extending their campaign end date | sec.gov |
| August 9, 2023 | Offering | $9,999 | $1,234,999 | October 9, 2023 | sec.gov | |
| August 9, 2023 | Withdrawal | Not listed | Not listed | sec.gov | ||
| February 15, 2019 | Progress update | $10,000 | $106,998 | February 8, 2019 | End of offering. Issuer failed to reach target amount and investor funds are being returned by the escrow agent. | sec.gov |
| November 8, 2018 | Offering | $10,000 | $106,998 | February 8, 2019 | sec.gov |
Updated January 17, 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.