Data / Crowdfunding / California / Prazo, Inc.
Prazo, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2020)
Prazo, Inc., a corporation in West Hollywood, CA, filed a Form C with the SEC on September 25, 2020 to raise $25,000 to $1,070,000 in Crowd Safe Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on December 11, 2020. In its most recent fiscal year it reported $167,571 in revenue and a net loss of $270,424, with 5 employees.
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- Website
- www.joinborrow.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 8430 SANTA MONICA BOULEVARD SUITE 201, West Hollywood, CA 90069
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- May 21, 2015
- SEC CIK
- 0001805831
Offering terms
From the amendment filed September 25, 2020.
- Security
- Crowd Safe Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- December 11, 2020
- Portal compensation
- 6% of the amount raised in the offering.
Financials
From the Form C-AR filed May 3, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $167,571 | $101,892 | sec.gov |
| Cost of goods sold | $19,156 | $17,856 | sec.gov |
| Net income | $-270,424 | $-356,448 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $334,262 | $231,326 | sec.gov |
| Cash | $96,830 | $4,841 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $793,247 | $581,478 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 14, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| November 5, 2020 | Progress update | $25,000 | $1,070,000 | December 11, 2020 | The Offering closed successfully on 11/4/2020, having received investment commitments of $179,492, although a final accounting has not taken place. | sec.gov |
| September 25, 2020 | Amendment | $25,000 | $1,070,000 | December 11, 2020 | The Form C amendment is being filed by the Company to provide Investors with information regarding an intermediate close of the Offering that the Company conducted on September 11, 2020, and to change the Offering Deadline to December 11, 2020. | sec.gov |
| July 10, 2020 | Offering | $25,000 | $1,070,000 | October 10, 2020 | sec.gov |
Updated May 14, 2021. 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.