Data / Crowdfunding / California / Powell Development Group, Inc.
Powell Development Group, Inc.: crowdfunding raise on Wefunder Portal LLC, $25,000 to $100,000 (2017)
Powell Development Group, Inc., a corporation in Torrance, CA, filed a Form C with the SEC on April 28, 2017 to raise $25,000 to $100,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on May 1, 2017. In its most recent fiscal year it reported $5,002 in revenue and a net loss of $42,971, with 5 employees.
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- Website
- www.galacticcap.com
- Funding portal
- Wefunder Portal LLC
- Address
- 2600 W. 225th Street, Torrance, CA 90505
- Legal form
- Corporation
- Jurisdiction
- NV
- Incorporated
- March 20, 2013
- SEC CIK
- 0001689081
Offering terms
From the amendment filed April 28, 2017.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $100,000
- Deadline
- May 1, 2017
- Portal compensation
- 3.0% of the offering amount upon a successful fundraise.
Financials
From the Form C/A filed April 28, 2017.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $5,002 | $374 | sec.gov |
| Cost of goods sold | $11,955 | $847 | sec.gov |
| Net income | $-42,971 | $-32,290 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $20,254 | $65,496 | sec.gov |
| Cash | $17,677 | $65,496 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $300 | sec.gov |
| Long-term debt | $278 | $2,247 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 28, 2017 | Amendment | $25,000 | $100,000 | May 1, 2017 | Changed deadline date to May 1, and updated business plan. | sec.gov |
| November 21, 2016 | Offering | $25,000 | $100,000 | May 12, 2017 | sec.gov |
Updated April 28, 2017. 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.