Data / Crowdfunding / California / MassGenie
MassGenie: crowdfunding raise on NetCapital Funding Portal Inc., $10,007 to $1,000,501 (2022)
MassGenie, a corporation in Irvine, CA, filed a Form C with the SEC on November 21, 2022 to raise $10,007 to $1,000,501 in common stock through NetCapital Funding Portal Inc.. The offering closed on January 27, 2023. In its most recent fiscal year it reported $153,127 in revenue and a net loss of $1,416,526, with 50 employees.
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- Website
- powerbuy.app
- Funding portal
- NetCapital Funding Portal Inc.
- Address
- 3943 Irvine Blvd. #170, Irvine, CA 92602
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- April 1, 2016
- SEC CIK
- 0001899789
Offering terms
From the amendment filed November 21, 2022.
- Security
- Common Stock
- Price
- $11.45
- Target
- $10,007
- Maximum
- $1,000,501
- Deadline
- January 27, 2023
- Portal compensation
- Up to 4.9% of amount raised for a successful offering and a listing fee of up to $5,000
Financials
From the Form C-U filed March 2, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $153,127 | $240,284 | sec.gov |
| Cost of goods sold | $11,189 | $13,947 | sec.gov |
| Net income | $-1,416,526 | $-1,112,567 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $289,527 | $568,869 | sec.gov |
| Cash | $227,639 | $504,788 | sec.gov |
| Accounts receivable | $49,102 | $48,535 | sec.gov |
| Short-term debt | $1,376,158 | $807,011 | sec.gov |
| Long-term debt | $3,261,909 | $2,665,022 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| March 2, 2023 | Progress update | $10,007 | $1,000,501 | January 27, 2023 | End of offering. Issuer closed its offering with estimated gross proceeds of $22,202. The foregoing is in regard only to the amount raised under the Section 4(a)(6) exemption. | sec.gov |
| November 21, 2022 | Amendment | $10,007 | $1,000,501 | January 27, 2023 | the issuer extended the offering deadline. | sec.gov |
| September 26, 2022 | Amendment | $10,007 | $1,000,501 | November 25, 2022 | the issuer extended the offering deadline. | sec.gov |
| July 25, 2022 | Amendment | $10,007 | $1,000,501 | September 29, 2022 | the issuer extended the offering deadline. | sec.gov |
| April 8, 2022 | Amendment | $10,007 | $1,000,501 | July 29, 2022 | the issuer is extending the offering deadline. | sec.gov |
| February 25, 2022 | Amendment | $10,007 | $1,000,501 | April 30, 2022 | the issuer is extending the offering deadline. | sec.gov |
| January 13, 2022 | Amendment | $10,007 | $1,000,501 | March 1, 2022 | issuer made text changes to the offering page. | sec.gov |
| December 30, 2021 | Offering | $10,007 | $1,000,501 | March 1, 2022 | sec.gov |
Updated March 2, 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.