Data / Crowdfunding / California / Linen Mobile, Inc.
Linen Mobile, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2021)
Linen Mobile, Inc., a corporation in San Francisco, CA, filed a Form C with the SEC on March 18, 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 December 31, 2021. In its most recent fiscal year it reported $0 in revenue and a net loss of $962,848, with 2 employees.
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- Website
- linen.app
- Funding portal
- OpenDeal Portal LLC
- Address
- 44 TEHAMA ST., San Francisco, CA 94105
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- June 11, 2018
- SEC CIK
- 0001792508
Offering terms
From the amendment filed March 18, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- December 31, 2021
- Portal compensation
- 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 29, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-962,848 | $-428,144 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $3,545,964 | $595,357 | sec.gov |
| Cash | $3,025,979 | $81,578 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $280,785 | $78,364 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 4, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 29, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| October 14, 2021 | Progress update | $25,000 | $1,070,000 | December 31, 2021 | The Offering closed successfully on 10/13/2021, having received investment commitments of $4,528,363.90, although a final accounting has not taken place. | sec.gov |
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| March 18, 2021 | Amendment | $25,000 | $1,070,000 | December 31, 2021 | (i) raise maximum offering amount, (ii) include audited financials for 2019 and 2020, respectively, (iii) make certain additional disclosures, including risk factors; (iv) add exhibit to Subscription Agreement, and (v) extend the offering deadline. | sec.gov |
| March 18, 2021 | Progress update | Not listed | Not listed | The Offering closed successfully on January 15, 2021, having received investment commitments of $24,545.91. | sec.gov | |
| February 19, 2021 | Offering | $25,000 | $500,000 | April 27, 2021 | sec.gov | |
| April 29, 2020 | Amendment | $1,000 | $300,000 | April 27, 2021 | Issuer extended the deadline to reach the target offering amount. Further, among other things, Issuer revised the business and offering sections of the offering statement and revised the repurchase rights contained in the Crowd SAFE. | sec.gov |
| November 21, 2019 | Offering | $1,000 | $300,000 | April 29, 2020 | sec.gov |
Updated May 4, 2022. 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.