Data / Crowdfunding / California / Modern Times Drinks, Inc.
Modern Times Drinks, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,187 to $1,069,832 (2019)
Modern Times Drinks, Inc., a corporation in San Diego, CA, filed a Form C with the SEC on April 8, 2019 to raise $50,187 to $1,069,832 in common stock through Wefunder Portal LLC. The offering closed on April 30, 2019. In its most recent fiscal year it reported $35,037,278 in revenue and a net loss of $4,669,505, with 284 employees.
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- Website
- www.modertimesbeer.com
- Funding portal
- Wefunder Portal LLC
- Address
- 3725 GREENWOOD ST, San Diego, CA 92110
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- May 1, 2017
- SEC CIK
- 0001771430
Offering terms
From the offering filed April 8, 2019.
- Security
- Common Stock
- Price
- $252.20
- Target
- $50,187
- Maximum
- $1,069,832
- Deadline
- April 30, 2019
- Portal compensation
- 7.5% 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 June 12, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $35,037,278 | $30,488,617 | sec.gov |
| Cost of goods sold | $22,288,178 | $19,468,221 | sec.gov |
| Net income | $-4,669,505 | $-2,928,330 | sec.gov |
| Taxes paid | $468,614 | $454,169 | sec.gov |
| Total assets | $72,062,125 | $44,991,011 | sec.gov |
| Cash | $529,251 | $426,049 | sec.gov |
| Accounts receivable | $1,887,701 | $1,886,255 | sec.gov |
| Short-term debt | $10,009,703 | $7,673,298 | sec.gov |
| Long-term debt | $76,332,413 | $48,596,292 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 12, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| June 3, 2020 | Progress update | $50,187 | $1,069,832 | April 30, 2019 | The final number is $1,069,832.40 in investments. | sec.gov |
| April 8, 2019 | Offering | $50,187 | $1,069,832 | April 30, 2019 | sec.gov |
Updated June 12, 2020. 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.