Data / Crowdfunding / Delaware / Lipa Later Group Inc.
Lipa Later Group Inc.: crowdfunding raise on OpenDeal Portal LLC, $50,000 to $1,235,000 (2023)
Lipa Later Group Inc., a corporation in Wilmington, DE, filed a Form C with the SEC on August 29, 2023 to raise $50,000 to $1,235,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on October 28, 2023. In its most recent fiscal year it reported $3,509,210 in revenue and a net loss of $1,183,592, with 150 employees.
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- Website
- lipalater.co.ke
- Funding portal
- OpenDeal Portal LLC
- Address
- 1000N. WEST STREET 1501 NEW CASTLE COUNTY, Wilmington, DE 19801
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- March 29, 2022
- SEC CIK
- 0001986191
Offering terms
From the offering filed August 29, 2023.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,235,000
- Deadline
- October 28, 2023
- Portal compensation
- At the conclusion of the Offering, the Issuer shall pay the Intermediary the greater of (A) a fee of seven percent (7%) of the dollar amount raised in the Offering or (B) a cash fee of twelve thousand dollars ($12,000.00).
Financials
From the Form C-U filed November 1, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $3,509,210 | $988,389 | sec.gov |
| Cost of goods sold | $169,309 | $69,569 | sec.gov |
| Net income | $-1,183,592 | $-204,333 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $12,601,438 | $4,195,493 | sec.gov |
| Cash | $145,065 | $317,746 | sec.gov |
| Accounts receivable | $6,385,044 | $1,741,781 | sec.gov |
| Short-term debt | $5,120,163 | $1,956,437 | sec.gov |
| Long-term debt | $6,181,100 | $975,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| November 1, 2023 | Progress update | $50,000 | $1,235,000 | October 28, 2023 | The Offering closed successfully on 10/29/2023, having received investment commitments of $70,202, although a final accounting has not taken place. | sec.gov |
| August 29, 2023 | Offering | $50,000 | $1,235,000 | October 28, 2023 | sec.gov |
Updated November 1, 2023. 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.