Data / Crowdfunding / Massachusetts / Rayyan Systems Inc.
Rayyan Systems Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $618,000 (2023)
Rayyan Systems Inc., a corporation in Cambridge, MA, filed a Form C with the SEC on July 26, 2023 to raise $50,000 to $618,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 29, 2024. In its most recent fiscal year it reported $31,288 in revenue and a net loss of $621,924, with 12 employees.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- www.rayyan.ai
- Funding portal
- Wefunder Portal LLC
- Address
- 1 Broadway 14th Floor, Cambridge, MA 02142
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- December 14, 2020
- SEC CIK
- 0001862058
Offering terms
From the offering filed July 26, 2023.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $618,000
- Deadline
- April 29, 2024
- 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 filed July 26, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $31,288 | $1,469 | sec.gov |
| Cost of goods sold | $3,167 | $273 | sec.gov |
| Net income | $-621,924 | $-463,092 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $100,032 | $245,552 | sec.gov |
| Cash | $28,295 | $198,104 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $38,070 | $24,495 | sec.gov |
| Long-term debt | $439,613 | $440,407 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| July 26, 2023 | Offering | $50,000 | $618,000 | April 29, 2024 | sec.gov | |
| July 25, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| May 20, 2021 | Offering | $50,000 | $1,070,000 | April 30, 2022 | sec.gov |
Updated July 26, 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.