Data / Crowdfunding / Washington / Real McCoy Tea Co
Real McCoy Tea Co: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $535,000 (2022)
Real McCoy Tea Co, a corporation in Bellingham, WA, filed a Form C with the SEC on July 21, 2022 to raise $25,000 to $535,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 24, 2023. In its most recent fiscal year it reported $556,429 in revenue and a net loss of $226,296, with 2 employees.
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- Website
- kombuchatown.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 210 E CHESTNUT STREET, Bellingham, WA 98225
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 30, 2020
- SEC CIK
- 0001820949
Offering terms
From the amendment filed July 21, 2022.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $535,000
- Deadline
- April 24, 2023
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-U filed February 6, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $556,429 | $786,624 | sec.gov |
| Cost of goods sold | $284,589 | $407,620 | sec.gov |
| Net income | $-226,296 | $-481,650 | sec.gov |
| Taxes paid | $0 | $8,777 | sec.gov |
| Total assets | $462,737 | $331,142 | sec.gov |
| Cash | $31,743 | $30,057 | sec.gov |
| Accounts receivable | $188,863 | $133,098 | sec.gov |
| Short-term debt | $721,866 | $327,526 | sec.gov |
| Long-term debt | $1,314,882 | $1,351,332 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| February 6, 2023 | Progress update | $25,000 | $535,000 | April 24, 2023 | The Offering closed successfully on 1/26/2023, having received investment commitments of $62,500, although a final accounting has not taken place. | sec.gov |
| July 21, 2022 | Amendment | $25,000 | $535,000 | April 24, 2023 | This material amendment is filed to extend the Offering Deadline from August 31, 2022 to April 24, 2023. | sec.gov |
| June 30, 2022 | Offering | $25,000 | $535,000 | August 31, 2022 | sec.gov | |
| June 27, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| January 20, 2021 | Progress update | $10,000 | $250,000 | January 11, 2021 | At the close of the offering, the issuer closed on $79,041 and 79,401 securities. | sec.gov |
| December 31, 2020 | Amendment | $10,000 | $250,000 | January 11, 2021 | Updates to campaign page | sec.gov |
| November 12, 2020 | Amendment | $10,000 | $250,000 | January 11, 2021 | Extending the campaign for 60 days. | sec.gov |
| October 15, 2020 | Amendment | $10,000 | $250,000 | November 12, 2020 | Updated with financials and adding new perks | sec.gov |
| August 13, 2020 | Offering | $10,000 | $1,070,000 | November 12, 2020 | sec.gov |
Updated February 6, 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.