Data / Crowdfunding / California / LaneAxis Inc.
LaneAxis Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $5,000,000 (2024)
LaneAxis Inc., a corporation in Huntington Beach, CA, filed a Form C with the SEC on January 26, 2024 to raise $50,000 to $5,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 29, 2024. In its most recent fiscal year it reported $3,078,196 in revenue and a net loss of $957,605, with 15 employees.
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- Website
- laneaxis.com
- Funding portal
- Wefunder Portal LLC
- Address
- 419 Main Street, Huntington Beach, CA 92648
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- June 4, 2015
- SEC CIK
- 0001702255
Offering terms
From the amendment filed January 26, 2024.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $5,000,000
- Deadline
- April 29, 2024
- Portal compensation
- 7.9% 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/A filed January 26, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $3,078,196 | $1,974,762 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-957,605 | $-920,858 | sec.gov |
| Taxes paid | $21,196 | $21,196 | sec.gov |
| Total assets | $4,195,659 | $4,409,932 | sec.gov |
| Cash | $482,897 | $2,590,189 | sec.gov |
| Accounts receivable | $2,015,000 | $0 | sec.gov |
| Short-term debt | $240,099 | $232,499 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| January 26, 2024 | Amendment | $50,000 | $5,000,000 | April 29, 2024 | Naming a new CEO (Rick Burnett), removing other Officers / Board Members | sec.gov |
| December 19, 2023 | Amendment | $50,000 | $5,000,000 | April 29, 2024 | Naming a new CEO (Mason Burnett) | sec.gov |
| November 24, 2023 | Offering | $50,000 | $5,000,000 | April 29, 2024 | sec.gov | |
| October 20, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| December 20, 2021 | Progress update | $9,999 | $4,938,320 | September 10, 2021 | At the close of the offering, the issuer closed on $4,924,591.64 and 4,942,055 shares of common stock. | sec.gov |
| September 2, 2021 | Progress update | $9,999 | $4,938,320 | September 10, 2021 | At the close of the offering, the issuer closed on $4,771,890.2 and 4,952,021 shares of common stock. | sec.gov |
| June 23, 2021 | Amendment | $9,999 | $4,938,318 | August 31, 2021 | Issuer is extending their campaign to August 31, 2021 and increasing their funding goal to $4,938,318.00. | sec.gov |
| June 21, 2021 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| June 14, 2021 | Amendment | $9,999 | $4,938,320 | September 10, 2021 | Error in last filing. Issuer is amending their campaign to increase their maximum raise to $4,938,320. This is now updated. | sec.gov |
| May 19, 2021 | Amendment | $9,999 | $1,070,000 | September 10, 2021 | Issuer is amending their campaign to increase their maximum raise to $4,938,320. | sec.gov |
| May 18, 2021 | Amendment | $9,999 | $1,070,000 | September 10, 2021 | Issuer is amending their campaign to close on 6/30. | sec.gov |
| April 29, 2021 | Amendment | $9,999 | $1,070,000 | September 10, 2021 | adding 2020 financials | sec.gov |
| April 29, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| March 15, 2021 | Offering | $9,999 | $1,070,000 | September 10, 2021 | sec.gov | |
| June 5, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| May 27, 2020 | Progress update | $9,999 | $1,069,999 | May 21, 2020 | At the close of the offering, the issuer closed on $1.07M and 2,759,374 number of securities. | sec.gov |
| February 21, 2020 | Offering | $9,999 | $1,069,999 | May 21, 2020 | sec.gov |
Updated January 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.