Data / Crowdfunding / South Carolina / Local Choice Inc
Local Choice Inc: crowdfunding raise on First Democracy VC, $50,000 to $1,070,000 (2018)
Local Choice Inc, a corporation in Daniel Island, SC, filed a Form C with the SEC on June 22, 2018 to raise $50,000 to $1,070,000 in Crowd Note through First Democracy VC. The offering closed on August 20, 2018. In its most recent fiscal year it reported $1,689,008 in revenue and $114,963 in net income.
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- Website
- www.localchoicespirits.com
- Funding portal
- First Democracy VC
- Address
- 63 DALTON STREET, Daniel Island, SC 29492
- Legal form
- Corporation
- Jurisdiction
- SC
- Incorporated
- December 21, 2010
- SEC CIK
- 0001741753
Offering terms
From the offering filed June 22, 2018.
- Security
- Crowd Note
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,070,000
- Deadline
- August 20, 2018
- Portal compensation
- The issuer shall pay to the intermediary at the conclusion of the offering a fee consisting of seven percent (7.0%) commission based on the amount of investments raised in the Offering.
Financials
From the Form C-AR filed April 25, 2019.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,689,008 | $1,147,413 | sec.gov |
| Cost of goods sold | $866,751 | $502,496 | sec.gov |
| Net income | $114,963 | $-48,531 | sec.gov |
| Taxes paid | $25 | $14 | sec.gov |
| Total assets | $743,574 | $873,672 | sec.gov |
| Cash | $84,396 | $176,286 | sec.gov |
| Accounts receivable | $113,853 | $198,377 | sec.gov |
| Short-term debt | $128,628 | $373,690 | sec.gov |
| Long-term debt | $25,000 | $25,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 15, 2020 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 25, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| August 21, 2018 | Progress update | $50,000 | $1,070,000 | August 20, 2018 | The issuer raised approximately $68,801 during the offering period. Payments are still being processed; the exact amount has yet to be determined. | sec.gov |
| June 22, 2018 | Offering | $50,000 | $1,070,000 | August 20, 2018 | sec.gov |
Updated April 15, 2020. 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.