Data / Crowdfunding / Illinois / NovoMoto Inc.
NovoMoto Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $183,461 (2022)
NovoMoto Inc., a corporation in Chicago, IL, filed a Form C with the SEC on April 19, 2022 to raise $50,000 to $183,461 in LLC interests in NovoMoto Exchange I EB I*, NovoMoto Exchange I EB II*, and NovoMoto Exchange I* (*,a series of Wefunder SPV, LLC). are being co-offered by the SPV(s) and the Company in exchange for the previously issued securities in a Reg CF offering. through Wefunder Portal LLC. The offering closed on June 30, 2022. In its most recent fiscal year it reported $466,420 in revenue and a net loss of $363,123, with 12 employees.
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- Website
- www.novomoto.net
- Funding portal
- Wefunder Portal LLC
- Address
- 155 N Wacker FL 42, Chicago, IL 60606
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 1, 2022
- SEC CIK
- 0001796364
Offering terms
From the offering filed April 19, 2022.
- Security
- LLC interests in NovoMoto Exchange I EB I*, NovoMoto Exchange I EB II*, and NovoMoto Exchange I* (*,a series of Wefunder SPV, LLC). are being co-offered by the SPV(s) and the Company in exchange for the previously issued securities in a Reg CF offering.
- Price
- $1.00
- Target
- $50,000
- Maximum
- $183,461
- Deadline
- June 30, 2022
- Portal compensation
- 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-U filed July 6, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $466,420 | $108,653 | sec.gov |
| Cost of goods sold | $300,703 | $48,084 | sec.gov |
| Net income | $-363,123 | $-257,068 | sec.gov |
| Taxes paid | $982 | $1,045 | sec.gov |
| Total assets | $390,339 | $665,787 | sec.gov |
| Cash | $50,648 | $194,600 | sec.gov |
| Accounts receivable | $310,574 | $80,646 | sec.gov |
| Short-term debt | $1,201,981 | $291,221 | sec.gov |
| Long-term debt | $0 | $823,085 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| July 6, 2022 | Progress update | $50,000 | $183,461 | June 30, 2022 | The final number is $181,711.00 in securities exchanged in the Exchange Transaction. | sec.gov |
| April 19, 2022 | Offering | $50,000 | $183,461 | June 30, 2022 | sec.gov | |
| April 18, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 5, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| April 22, 2020 | Amendment | $50,000 | $1,070,000 | June 30, 2020 | Added 2019 reviewed financials; Extend closing date to 6/30/20; lowered valuation cap to $3.6M; removed MFN clause | sec.gov |
| December 24, 2019 | Offering | $50,000 | $1,070,000 | April 17, 2020 | sec.gov |
Updated July 6, 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.