Data / Crowdfunding / New York / Light Phone Inc.
Light Phone Inc.: crowdfunding raise on OpenDeal Inc., $25,000 to $428,000 (2017)
Light Phone Inc., a corporation in Brooklyn, NY, filed a Form C with the SEC on September 15, 2017 to raise $25,000 to $428,000 in SAFE (Simple Agreement for Future Equity) through OpenDeal Inc.. The offering closed on September 22, 2017. In its most recent fiscal year it reported $1,104,721 in revenue and a net loss of $1,154,769, with 4 employees.
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- Website
- www.lightphone.com
- Funding portal
- OpenDeal Inc.
- Address
- 19 MORRIS AVENUE NEW LAB, Brooklyn, NY 11205
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- February 23, 2015
- SEC CIK
- 0001710903
Offering terms
From the amendment filed September 15, 2017.
- Security
- SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $428,000
- Deadline
- September 22, 2017
- Portal compensation
- 5.0%
Financials
From the Form C-AR filed April 30, 2018.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,104,721 | $1,809 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-1,154,769 | $-2,488,214 | sec.gov |
| Taxes paid | $921,673 | $0 | sec.gov |
| Total assets | $152,453 | $722,218 | sec.gov |
| Cash | $67,930 | $141,418 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $3,505,000 | $3,015,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 30, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| October 11, 2017 | Progress update | $25,000 | $428,000 | September 22, 2017 | The Issuer raised approximately $50,236 during the offering period. Payments are still being processed. The exact amount is yet to be determined | sec.gov |
| September 15, 2017 | Amendment | $25,000 | $428,000 | September 22, 2017 | The Form C of the Company dated August 24, 2017 is hereby amended to shorten the offering deadline to September 22, 2017 at 11:59pm PT. | sec.gov |
| August 25, 2017 | Progress update | $25,000 | $428,000 | September 24, 2017 | The Issuer raised approximately $106,393 during the offering period. Payments are still being processed; the exact amount is yet to be determined. | sec.gov |
| August 24, 2017 | Offering | $25,000 | $428,000 | September 24, 2017 | sec.gov | |
| July 19, 2017 | Offering | $25,000 | $107,000 | August 24, 2017 | sec.gov |
Also on SpecStream
Updated April 30, 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.