Data / Crowdfunding / New York / ITSBYU, INC.
ITSBYU, INC.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2020)
ITSBYU, INC., a corporation in New York, NY, filed a Form C with the SEC on October 8, 2020 to raise $25,000 to $1,070,000 in Crowd Safe Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on December 31, 2020. In its most recent fiscal year it reported $57,873 in revenue and a net loss of $104,056.
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- Website
- itsbyu.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 204 W. 140TH STREET, SUITE 5A, New York, NY 10030
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- May 12, 2016
- SEC CIK
- 0001725994
Offering terms
From the amendment filed October 8, 2020.
- Security
- Crowd Safe Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- December 31, 2020
- Portal compensation
- The issuer shall pay to the Intermediary at the conclusion of the Offering a fee of six percent (6%) of the amount raised in the offering.
Financials
From the Form C-AR filed April 30, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $57,873 | $246,367 | sec.gov |
| Cost of goods sold | $13,082 | $60,077 | sec.gov |
| Net income | $-104,056 | $-211,666 | sec.gov |
| Taxes paid | $0 | $968 | sec.gov |
| Total assets | $164,231 | $21,036 | sec.gov |
| Cash | $164,231 | $21,036 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $51,922 | $54,672 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 10, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| January 4, 2021 | Progress update | $25,000 | $1,070,000 | December 31, 2020 | The Offering closed successfully on January 1, 2021, having received investment commitments of $69,774, although a final accounting has not taken place. | sec.gov |
| October 8, 2020 | Amendment | $25,000 | $1,070,000 | December 31, 2020 | The Company is extending its campaign until December 31, 2020. | sec.gov |
| May 20, 2020 | Amendment | $25,000 | $1,070,000 | October 11, 2020 | The Form C is hereby amended to provide the full legal address of the issuer | sec.gov |
| May 15, 2020 | Amendment | $25,000 | $1,070,000 | October 11, 2020 | This Amendment Hereby changes the valuation cap in Exhibit E from $9,000,000 to $8,000,000 | sec.gov |
| May 15, 2020 | Offering | $25,000 | $1,070,000 | October 11, 2020 | sec.gov |
Updated May 10, 2021. 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.