Data / Crowdfunding / California / Motoroso, Inc.
Motoroso, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $1,000,000 (2017)
Motoroso, Inc., a corporation in San Luis Obispo, CA, filed a Form C with the SEC on April 6, 2017 to raise $50,000 to $1,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 14, 2017. In its most recent fiscal year it reported $127,273 in revenue and a net loss of $357,254, with 3 employees.
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- Website
- www.motoroso.com
- Funding portal
- Wefunder Portal LLC
- Address
- 1297 Manzanita Way, San Luis Obispo, CA 93401
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- August 1, 2013
- SEC CIK
- 0001609889
Offering terms
From the amendment filed April 6, 2017.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,000,000
- Deadline
- April 14, 2017
- 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 June 8, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $127,273 | $20,401 | sec.gov |
| Cost of goods sold | $103,876 | $0 | sec.gov |
| Net income | $-357,254 | $-96,557 | sec.gov |
| Taxes paid | $5,741 | $661 | sec.gov |
| Total assets | $211,788 | $592,325 | sec.gov |
| Cash | $173,207 | $586,525 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $8,650 | sec.gov |
| Long-term debt | $30,482 | $56,204 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 8, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| May 12, 2017 | Progress update | $50,000 | $1,000,000 | May 11, 2017 | $102,500.00 in investments. Payments are still being processed; final number is yet to be determined. The deadline date was set to today to work around an EDGAR glitch but the offering actually closed on 04-14-2017 | sec.gov |
| April 6, 2017 | Amendment | $50,000 | $1,000,000 | April 14, 2017 | Move deadline date to Apr 14th. Include video transcripts. | sec.gov |
| January 6, 2017 | Offering | $50,000 | $1,000,000 | July 7, 2017 | sec.gov |
Updated June 8, 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.