Data / Crowdfunding / California / Parallel Flight Technologies, Inc.
Parallel Flight Technologies, Inc.: crowdfunding raise on StartEngine Capital, LLC, $10,000 to $3,700,810 (2023)
Parallel Flight Technologies, Inc., a corporation in La Selva Beach, CA, filed a Form C with the SEC on April 27, 2023 to raise $10,000 to $3,700,810 in Class B Common Stock through StartEngine Capital, LLC. The offering closed on May 17, 2023. In its most recent fiscal year it reported $292,599 in revenue and a net loss of $2,704,598, with 14 employees.
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- Website
- parallelflight.com
- Funding portal
- StartEngine Capital, LLC
- Address
- 450 MCQUAIDE DRIVE, La Selva Beach, CA 95076
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- September 10, 2018
- SEC CIK
- 0001788756
Offering terms
From the amendment filed April 27, 2023.
- Security
- Class B Common Stock
- Price
- $10.00
- Target
- $10,000
- Maximum
- $3,700,810
- Deadline
- May 17, 2023
- Portal compensation
- Up to 9% percent
Financials
From the Form C-U filed May 19, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $292,599 | $233,349 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-2,704,598 | $-2,965,401 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,159,412 | $2,420,718 | sec.gov |
| Cash | $1,056,902 | $2,262,190 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $469,562 | $205,284 | sec.gov |
| Long-term debt | $123,764 | $11,764 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 19, 2023 | Progress update | $10,000 | $3,700,810 | May 17, 2023 | At the close of the offering, the issuer closed on $593,560.45 and 101,443 number of securities. | sec.gov |
| April 27, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2023 | Amendment | $10,000 | $3,700,810 | May 17, 2023 | Issuer is extending their end date and updating their financials | sec.gov |
| April 10, 2023 | Amendment | $10,000 | $3,700,810 | April 30, 2023 | Issuer is extending their campaign end date | sec.gov |
| February 10, 2023 | Amendment | $10,000 | $3,700,810 | April 11, 2023 | Updated clerical error in perk title language | sec.gov |
| February 7, 2023 | Offering | $10,000 | $3,700,810 | April 11, 2023 | sec.gov | |
| January 25, 2023 | Annual report, amended | Not listed | Not listed | sec.gov | ||
| June 29, 2022 | Progress update | $9,989 | $4,999,956 | June 28, 2022 | At the close of the offering, the issuer closed on $661,870.21 and 32,473 number of securities. | sec.gov |
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2022 | Amendment | $9,989 | $4,999,956 | June 28, 2022 | Issuer is extending by 60 days and updating 2020/2021 Financials | sec.gov |
| January 24, 2022 | Offering | $9,989 | $4,999,956 | April 29, 2022 | sec.gov | |
| January 20, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| January 17, 2020 | Progress update | $9,998 | $1,069,999 | January 13, 2020 | At the close of the offering, the issuer closed on $1,069,806.1 and 797,848 number of securities. | sec.gov |
| October 11, 2019 | Amendment | $9,998 | $1,069,999 | January 13, 2020 | Updating Use of Proceeds | sec.gov |
| October 10, 2019 | Offering | $9,998 | $1,069,999 | January 13, 2020 | sec.gov |
Updated May 19, 2023. 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.