Data / Crowdfunding / Texas / Grit Grocery, LLC
Grit Grocery, LLC: crowdfunding raise on Wefunder Portal LLC, $75,000 to $1,000,000 (2018)
Grit Grocery, LLC, a limited liability company in Houston, TX, filed a Form C with the SEC on January 26, 2018 to raise $75,000 to $1,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on February 1, 2018. In its most recent fiscal year it reported $1,287 in revenue and a net loss of $47,432, with 4 employees.
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- Website
- gritgrocery.com
- Funding portal
- Wefunder Portal LLC
- Address
- 5210 Griggs Rd. #14565, Houston, TX 77021
- Legal form
- Limited Liability Company
- Jurisdiction
- TX
- Incorporated
- June 9, 2015
- SEC CIK
- 0001707356
Offering terms
From the amendment filed January 26, 2018.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $75,000
- Maximum
- $1,000,000
- Deadline
- February 1, 2018
- Portal compensation
- 4.0% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C-U filed May 25, 2018.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,287 | $49,202 | sec.gov |
| Cost of goods sold | $7,405 | $62,717 | sec.gov |
| Net income | $-47,432 | $-69,692 | sec.gov |
| Taxes paid | $3 | $33 | sec.gov |
| Total assets | $20,840 | $23,271 | sec.gov |
| Cash | $211 | $415 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $58,227 | $63,305 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 25, 2018 | Progress update | $75,000 | $1,000,000 | February 1, 2018 | The final number is $82,160.00 in investments. | sec.gov |
| January 26, 2018 | Amendment | $75,000 | $1,000,000 | February 1, 2018 | Include video transcripts, and updated business plan. | sec.gov |
| December 22, 2017 | Amendment | $75,000 | $1,000,000 | February 1, 2018 | Lowered minimum threshold to $75,000 to fund one truck instead of two ; updated cash on hand in financial condition ; extended campaign ; updated business plan | sec.gov |
| July 10, 2017 | Offering | $150,000 | $1,000,000 | January 4, 2018 | sec.gov |
Updated May 25, 2018. 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.