Data / Crowdfunding / California / Magic Instruments, Inc.
Magic Instruments, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $1,000,000 (2016)
Magic Instruments, Inc., a corporation in San Francisco, CA, filed a Form C with the SEC on December 16, 2016 to raise $50,000 to $1,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on December 21, 2016. In its most recent fiscal year it reported $0 in revenue and a net loss of $45,992, with 6 employees.
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- Website
- www.magicinstruments.com
- Funding portal
- Wefunder Portal LLC
- Address
- 2673A Mission St, San Francisco, CA 94110
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- November 8, 2012
- SEC CIK
- 0001681969
Offering terms
From the amendment filed December 16, 2016.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,000,000
- Deadline
- December 21, 2016
- Portal compensation
- 3.0% of the offering amount upon a successful fundraise.
Financials
From the Form C/A filed December 16, 2016.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-45,992 | $-8,965 | sec.gov |
| Taxes paid | $-1,622 | $0 | sec.gov |
| Total assets | $22,365 | $700 | sec.gov |
| Cash | $1,002 | $700 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $8,965 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| December 16, 2016 | Amendment | $50,000 | $1,000,000 | December 21, 2016 | Moved deadline date forward to Dec 21, included video transcriptions and updated business plan. | sec.gov |
| October 19, 2016 | Offering | $50,000 | $1,000,000 | April 16, 2017 | sec.gov |
Updated December 16, 2016. 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.