Data / Crowdfunding / California / Modbook Inc.
Modbook Inc.: crowdfunding raise on Wefunder Portal LLC, $100,000 to $1,070,000 (2018)
Modbook Inc., a corporation in Los Angeles, CA, filed a Form C with the SEC on May 1, 2018 to raise $100,000 to $1,070,000 in common stock through Wefunder Portal LLC. The offering closed on April 30, 2018. In its most recent fiscal year it reported $12,806 in revenue and a net loss of $299,201, with 5 employees.
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- Website
- modbook.com
- Funding portal
- Wefunder Portal LLC
- Address
- 18341 Sherman Way Suite 100, Los Angeles, CA 91335
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- February 2, 2012
- SEC CIK
- 0001708907
Offering terms
From the amendment filed May 1, 2018.
- Security
- Common Stock
- Price
- $2.00
- Target
- $100,000
- Maximum
- $1,070,000
- Deadline
- April 30, 2018
- Portal compensation
- 4.0% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C-AR filed April 30, 2019.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $12,806 | $24,868 | sec.gov |
| Cost of goods sold | $7,113 | $9,982 | sec.gov |
| Net income | $-299,201 | $-298,053 | sec.gov |
| Taxes paid | $800 | $803 | sec.gov |
| Total assets | $342,894 | $353,777 | sec.gov |
| Cash | $8,942 | $17,682 | sec.gov |
| Accounts receivable | $0 | $333 | sec.gov |
| Short-term debt | $906,043 | $826,030 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 30, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| May 25, 2018 | Progress update | $100,000 | $1,070,000 | April 30, 2018 | $244,503.00 in investments. Payments are still being processed; final number is yet to be determined. | sec.gov |
| May 1, 2018 | Amendment | $100,000 | $1,070,000 | April 30, 2018 | Included video transcripts, and updated business plan. | sec.gov |
| January 31, 2018 | Amendment | $100,000 | $1,000,000 | April 30, 2018 | Extend deadline, and include updated business plan. | sec.gov |
| August 18, 2017 | Offering | $100,000 | $1,000,000 | February 16, 2018 | sec.gov |
Updated April 30, 2019. 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.