Data / Crowdfunding / California / Magnabid
Magnabid: crowdfunding raise on StartEngine Capital, LLC, $9,999 to $350,558 (2018)
Magnabid, a corporation in Beverly Hills, CA, filed a Form C with the SEC on June 13, 2018 to raise $9,999 to $350,558 in Class A Non Voting Stock through StartEngine Capital, LLC. The offering closed on September 8, 2018. In its most recent fiscal year it reported $0 in revenue and a net loss of $11,207, with 4 employees.
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- Website
- www.magnabid.com
- Funding portal
- StartEngine Capital, LLC
- Address
- 9735 WILSHIRE BLVD, UNIT 123, Beverly Hills, CA 90212
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- November 19, 2015
- SEC CIK
- 0001699829
Offering terms
From the offering filed June 13, 2018.
- Security
- Class A Non Voting Stock
- Price
- $0.35
- Target
- $9,999
- Maximum
- $350,558
- Deadline
- September 8, 2018
- Portal compensation
- 6 percent
Financials
From the Form C-U filed September 14, 2018.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-11,207 | $-2,810 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $10,789 | $4,665 | sec.gov |
| Cash | $104 | $395 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $24,206 | $6,875 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| September 14, 2018 | Progress update | $9,999 | $350,558 | September 8, 2018 | At the close of the offering, the issuer closed on $18,807.95, and 57,407 number of securities. | sec.gov |
| June 13, 2018 | Offering | $9,999 | $350,558 | September 8, 2018 | sec.gov | |
| June 13, 2018 | Progress update | $9,999 | $999,999 | August 23, 2017 | At the close of the offering issuer had sold 346836 shares for $121,392.60. | sec.gov |
| June 13, 2018 | Progress update | $9,999 | $378,607 | June 8, 2018 | At the close of the offering, the amount closed on is $28,049.35 and 80,141 number of securities sold, final amount subject to change pending final receipt of committed investments. | sec.gov |
| April 30, 2018 | Amendment | $9,999 | $378,607 | June 8, 2018 | Company is updating 2017 financials. | sec.gov |
| March 12, 2018 | Offering | $9,999 | $378,607 | June 8, 2018 | sec.gov | |
| August 30, 2017 | Progress update | $9,999 | $999,999 | August 23, 2017 | At the close of the offering issuer had sold 314,285 shares for $109,999.75. | sec.gov |
| August 15, 2017 | Amendment | $9,999 | $999,999 | August 23, 2017 | Extending the campaign end date and increasing maximum funding goal to $1,069,999.70. Updated Financial Review attached as Exhibit B to Form C. | sec.gov |
| July 3, 2017 | Amendment | $9,999 | $106,999 | August 14, 2017 | Extending the campaign end date, increasing maximum funding goal to $107,000 and clarifying minimum raise amount in offering document. | sec.gov |
| March 31, 2017 | Offering | $9,999 | $99,999 | June 30, 2017 | sec.gov |
Updated September 14, 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.