Data / Crowdfunding / Hawaii / Orthogonal Thinker Inc.
Orthogonal Thinker Inc.: crowdfunding raise on Wefunder Portal LLC, $50,001 to $944,534 (2018)
Orthogonal Thinker Inc., a corporation in Kihei, HI, filed a Form C with the SEC on November 8, 2018 to raise $50,001 to $944,534 in preferred stock through Wefunder Portal LLC. The offering closed on May 31, 2019. In its most recent fiscal year it reported $14,837 in revenue and a net loss of $704,649, with 3 employees.
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- Website
- orthogonalthinker.com
- Funding portal
- Wefunder Portal LLC
- Address
- 1215 SOUTH KIHEI RD. #424, Kihei, HI 96753
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- December 21, 2016
- SEC CIK
- 0001728664
Offering terms
From the offering filed November 8, 2018.
- Security
- Preferred Stock
- Price
- $4.20
- Target
- $50,001
- Maximum
- $944,534
- Deadline
- May 31, 2019
- Portal compensation
- 5.0% 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/A filed June 17, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $14,837 | $147,556 | sec.gov |
| Cost of goods sold | $8,801 | $136,886 | sec.gov |
| Net income | $-704,649 | $-259,507 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $5,278,527 | $672,133 | sec.gov |
| Cash | $4,008,996 | $46,961 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $20,107 | $0 | sec.gov |
| Long-term debt | $5,855,249 | $1,026,241 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 17, 2020 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| June 16, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| September 27, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| July 2, 2019 | Progress update | $50,001 | $944,534 | February 22, 2019 | The final number is $145,950.00 in investments. | sec.gov |
| November 8, 2018 | Offering | $50,001 | $944,534 | May 31, 2019 | sec.gov | |
| November 8, 2018 | Offering | $50,001 | $944,534 | May 31, 2019 | sec.gov | |
| July 11, 2018 | Amendment | $50,000 | $283,000 | January 11, 2019 | Changed offering terms, updated contracts, and updated business plan. | sec.gov |
| July 6, 2018 | Offering | $50,000 | $283,000 | January 11, 2019 | sec.gov | |
| May 25, 2018 | Progress update | $71,000 | $1,070,000 | April 30, 2018 | $265,202.00 in investments. Payments are still being processed; final number is yet to be determined. | sec.gov |
| April 30, 2018 | Amendment | $71,000 | $1,070,000 | April 30, 2018 | Updated business plan. | sec.gov |
| March 28, 2018 | Amendment | $71,000 | $1,070,000 | April 30, 2018 | Lowered target offering amount, and updated business plan. | sec.gov |
| February 26, 2018 | Amendment | $333,000 | $1,070,000 | April 30, 2018 | Increase maximum offering amount. | sec.gov |
| February 23, 2018 | Offering | $333,000 | $500,000 | April 30, 2018 | sec.gov |
Updated June 17, 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.