Data / Crowdfunding / California / Onward Method, Inc.
Onward Method, Inc.: crowdfunding raise on First Democracy VC, $50,000 to $1,070,000 (2018)
Onward Method, Inc., a corporation in Los Angeles, CA, filed a Form C with the SEC on February 5, 2018 to raise $50,000 to $1,070,000 in Crowd SAFE (Simple Agreement for Future Equity) Units through First Democracy VC. The offering closed on March 5, 2018. In its most recent fiscal year it reported $0 in revenue and a net loss of $1,010,023, with 10 employees.
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- Website
- onward.org
- Funding portal
- First Democracy VC
- Address
- 8605 SANTA MONICA BLVD STE 39971, Los Angeles, CA 90069
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- December 16, 2015
- SEC CIK
- 0001669654
Offering terms
From the amendment filed February 5, 2018.
- Security
- Crowd SAFE (Simple Agreement for Future Equity) Units
- Price
- $1.00
- Target
- $50,000
- Maximum
- $1,070,000
- Deadline
- March 5, 2018
- Portal compensation
- 7.0%
Financials
From the Form C-U filed May 31, 2018.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-1,010,023 | $-6,193 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,022,574 | $0 | sec.gov |
| Cash | $961,058 | $0 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $33,550 | $0 | sec.gov |
| Long-term debt | $0 | $4,593 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 31, 2018 | Progress update | $50,000 | $1,070,000 | March 5, 2018 | $99,639.43 in investments. Payments are still being processed; final number is yet to be determined. | sec.gov |
| April 30, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| February 5, 2018 | Amendment | $50,000 | $1,070,000 | March 5, 2018 | This Amendment is filed to 1) extend the Offering deadline to March 5, 2018, 2) change the "Valuation Cap" to $16,000,000 for all of the Securities sold in this Offering, and 3) disclose that two officers invested $10,000 each into this offering. | sec.gov |
| December 15, 2017 | Offering | $50,000 | $1,070,000 | February 5, 2018 | sec.gov |
Updated May 31, 2018. 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.