Data / Crowdfunding / California / New Growth Brands, Inc.
New Growth Brands, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $1,235,000 (2023)
New Growth Brands, Inc., a corporation in San Diego, CA, filed a Form C with the SEC on April 27, 2023 to raise $50,000 to $1,235,000 in Convertible Note through Wefunder Portal LLC. The offering closed on April 30, 2024. In its most recent fiscal year it reported $620,825 in revenue and a net loss of $734,618, with 2 employees.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- www.budlove.com
- Funding portal
- Wefunder Portal LLC
- Address
- 4660 LA JOLLA VILLAGE DRIVE STE 100, San Diego, CA 92122
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- April 26, 2022
- SEC CIK
- 0001947789
Offering terms
From the amendment filed April 27, 2023.
- Security
- Convertible Note
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,235,000
- Deadline
- April 30, 2024
- 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 April 17, 2025.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $620,825 | $345,804 | sec.gov |
| Cost of goods sold | $15,846 | $157,838 | sec.gov |
| Net income | $-734,618 | $-1,793,112 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $348,617 | $394,299 | sec.gov |
| Cash | $278,869 | $363,544 | sec.gov |
| Accounts receivable | $27,895 | $0 | sec.gov |
| Short-term debt | $885,286 | $247,505 | sec.gov |
| Long-term debt | $272,185 | $231,871 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 20, 2026 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 17, 2025 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2023 | Amendment | $50,000 | $1,235,000 | April 30, 2024 | Lowering goal (fixing clerical error) | sec.gov |
| April 17, 2023 | Amendment | $50,000 | $2,925,300 | April 30, 2024 | Updating to 2022 financials and lowering minimum goal. | sec.gov |
| October 28, 2022 | Offering | $200,000 | $1,235,000 | April 30, 2023 | sec.gov |
Updated May 20, 2026. 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.