Data / Crowdfunding / California / Midgie's Good Cream Inc.
Midgie's Good Cream Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $410,000 (2021)
Midgie's Good Cream Inc., a corporation in Napa, CA, filed a Form C with the SEC on November 4, 2021 to raise $25,000 to $410,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on February 21, 2022. In its most recent fiscal year it reported $701,278 in revenue and a net loss of $681,762, with 3 employees.
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- Website
- rethinkicecream.us
- Funding portal
- OpenDeal Portal LLC
- Address
- 4048 SONOMA HIGHWAY #15, Napa, CA 94559
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- February 2, 2021
- SEC CIK
- 0001845329
Offering terms
From the offering filed November 4, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $410,000
- Deadline
- February 21, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-AR filed March 29, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $701,278 | $560,901 | sec.gov |
| Cost of goods sold | $366,639 | $315,104 | sec.gov |
| Net income | $-681,762 | $-873,169 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $311,131 | $270,487 | sec.gov |
| Cash | $88,470 | $87,362 | sec.gov |
| Accounts receivable | $1,054 | $23,937 | sec.gov |
| Short-term debt | $1,744,043 | $511,828 | sec.gov |
| Long-term debt | $70,000 | $1,391,716 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| March 30, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| March 29, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| February 22, 2022 | Progress update | $25,000 | $410,000 | February 21, 2022 | The Offering closed successfully on 2/22/2022, having received investment commitments of $102,204.45, although a final accounting has not taken place. | sec.gov |
| November 4, 2021 | Offering | $25,000 | $410,000 | February 21, 2022 | sec.gov | |
| August 9, 2021 | Progress update | $25,000 | $250,000 | October 18, 2021 | $123,428 in investments. Payments still processing; final figure not yet determined. | sec.gov |
| June 10, 2021 | Amendment | $25,000 | $250,000 | October 18, 2021 | Amending to add a webinar transcript to offering materials. | sec.gov |
| May 24, 2021 | Amendment | $25,000 | $250,000 | October 18, 2021 | Updating product information in the Company Summary attached hereto as (Exhibit B) and to updating the Company's address. | sec.gov |
| April 22, 2021 | Offering | $25,000 | $250,000 | October 18, 2021 | sec.gov |
Updated March 30, 2022. 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.