Data / Crowdfunding / Texas / Otherweb, Inc
Otherweb, Inc: crowdfunding raise on DEALMAKER SECURITIES LLC, $10,300 to $1,199,950 (2024)
Otherweb, Inc, a company in Round Rock, TX, filed a Form C with the SEC on July 16, 2024 to raise $10,300 to $1,199,950 in preferred stock through DEALMAKER SECURITIES LLC. The offering closed on August 9, 2024. In its most recent fiscal year it reported $561 in revenue and a net loss of $687,265, with 14 employees.
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- Website
- otherweb.com
- Funding portal
- DEALMAKER SECURITIES LLC
- Address
- 551 S I-35 FRONTAGE RD, UNIT 330, Round Rock, TX 78664
- Legal form
- Other
- Jurisdiction
- DE
- Incorporated
- September 12, 2021
- SEC CIK
- 0001966157
Offering terms
From the amendment filed July 16, 2024.
- Security
- Preferred Stock
- Price
- $0.80
- Target
- $10,300
- Maximum
- $1,199,950
- Deadline
- August 9, 2024
- Portal compensation
- The Issuer is required to pay to DealMaker Securities LLC a fee consisting of a eight-and-one-half percent (8.5%) commission based on the dollar amount of the Securities sold in the Offering in addition to upfront fees of $17,500 and $2,000 per month
Financials
From the Form C-U filed October 7, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $561 | $113 | sec.gov |
| Cost of goods sold | $675,325 | $0 | sec.gov |
| Net income | $-687,265 | $-158,930 | sec.gov |
| Taxes paid | $0 | $650 | sec.gov |
| Total assets | $705,837 | $21,294 | sec.gov |
| Cash | $705,837 | $21,294 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $9,137 | $35,424 | sec.gov |
| Long-term debt | $327,667 | $150,808 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| October 7, 2024 | Progress update | $10,300 | $1,199,950 | August 9, 2024 | This Form C-U shall serve as an update regarding the offering that ended August 9th, 2024. The final accounting indicates that the total amount raised was $1,199,899.28. | sec.gov |
| July 16, 2024 | Amendment | $10,300 | $1,199,950 | August 9, 2024 | Update bonus provisions and share allotment | sec.gov |
| April 29, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| April 29, 2024 | Amendment | $10,300 | $3,999,490 | August 9, 2024 | Update company financial reporting records | sec.gov |
| February 8, 2024 | Amendment | $10,300 | $3,999,490 | August 9, 2024 | Revise minimum investment amounts and related bonus share provisions | sec.gov |
| November 27, 2023 | Amendment | $10,300 | $3,999,490 | August 9, 2024 | Revise minimum investment amounts and related bonus share provisions | sec.gov |
| August 28, 2023 | Offering | $10,300 | $3,999,490 | August 9, 2024 | sec.gov | |
| August 9, 2023 | Amendment | $50,000 | $990,000 | April 29, 2024 | Increasing maximum target | sec.gov |
| February 21, 2023 | Offering | $50,000 | $750,000 | April 29, 2024 | sec.gov |
Updated October 7, 2024. 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.