Data / Crowdfunding / California / Iris Social Stock App INC.
Iris Social Stock App INC.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2021)
Iris Social Stock App INC., a corporation in Irvine, CA, filed a Form C with the SEC on September 28, 2021 to raise $25,000 to $1,070,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on February 26, 2022. In its most recent fiscal year it reported $1,077,876 in revenue and a net loss of $1,356,455, with 12 employees.
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- Website
- www.joinautopilot.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 200 SPECTRUM CENTER DR SUITE 300, Irvine, CA 92618
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- September 8, 2020
- SEC CIK
- 0001858421
Offering terms
From the amendment filed September 28, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- February 26, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-AR filed April 26, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,077,876 | $30,577 | sec.gov |
| Cost of goods sold | $230,230 | $75,319 | sec.gov |
| Net income | $-1,356,455 | $-1,043,425 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $2,527,203 | $1,795,764 | sec.gov |
| Cash | $2,026,925 | $1,541,064 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $673,026 | $2,034 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 26, 2024 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 26, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| May 2, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| January 4, 2022 | Progress update | $25,000 | $1,070,000 | February 26, 2022 | The Offering closed successfully on January 1, 2022, having received investment commitments of $865,747.70 although a final accounting has not taken place. | sec.gov |
| September 28, 2021 | Amendment | $25,000 | $1,070,000 | February 26, 2022 | This Amendment is filed to (i) extend the Offering Deadline to February 26, 2022; (ii) increase the maximum offering and maximum purchase amounts; and (iii) update the Capitalization and Previous Offerings sections. | sec.gov |
| June 25, 2021 | Amendment | $25,000 | $500,000 | October 15, 2021 | Correcting incorporation state in filing from California to Delaware. | sec.gov |
| June 24, 2021 | Offering | $25,000 | $500,000 | October 15, 2021 | sec.gov |
Also on SpecStream
Updated April 26, 2024. 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.