Data / Crowdfunding / California / Red Bay Coffee Company
Red Bay Coffee Company: crowdfunding raise on Wefunder Portal LLC, $40,000 to $200,000 (2016)
Red Bay Coffee Company, a limited liability company in Oakland, CA, filed a Form C with the SEC on October 18, 2016 to raise $40,000 to $200,000 in debt through Wefunder Portal LLC. The offering closed on December 1, 2016. In its most recent fiscal year it reported $456,060 in revenue and a net loss of $153,805, with 28 employees.
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- Website
- www.redbaycoffee.com
- Funding portal
- Wefunder Portal LLC
- Address
- 3098 E. 10th Street, Oakland, CA 94606
- Legal form
- Limited Liability Company
- Jurisdiction
- CA
- Incorporated
- August 9, 2013
- SEC CIK
- 0001678622
Offering terms
From the amendment filed October 18, 2016.
- Security
- Debt
- Price
- $1.00
- Target
- $40,000
- Maximum
- $200,000
- Deadline
- December 1, 2016
- Portal compensation
- 3.0% of the offering amount upon a successful fundraise.
Financials
From the Form C/A filed October 18, 2016.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $456,060 | $88,990 | sec.gov |
| Cost of goods sold | $238,926 | $41,891 | sec.gov |
| Net income | $-153,805 | $-14,339 | sec.gov |
| Taxes paid | $0 | $2,329 | sec.gov |
| Total assets | $557,996 | $9,383 | sec.gov |
| Cash | $359,913 | $1,932 | sec.gov |
| Accounts receivable | $19,881 | $1,713 | sec.gov |
| Short-term debt | $71,735 | $3,693 | sec.gov |
| Long-term debt | $706,111 | $3,693 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| October 18, 2016 | Amendment | $40,000 | $200,000 | December 1, 2016 | Increase maximum goal to $200K, include CPA reviewed financials, update most recent / prior fiscal year financials, and updated business plan. | sec.gov |
| September 26, 2016 | Amendment | $40,000 | $100,000 | December 1, 2016 | Extended deadline date to December 1st. | sec.gov |
| September 9, 2016 | Amendment | $40,000 | $100,000 | October 1, 2016 | Extended deadline date to October 1st. | sec.gov |
| August 22, 2016 | Amendment | $40,000 | $100,000 | September 9, 2016 | Extended the deadline date, changed the offering terms, included 1.5x revenue share contract and updated business plan. | sec.gov |
| July 7, 2016 | Offering | $40,000 | $100,000 | August 21, 2016 | sec.gov |
Also on SpecStream
Updated October 18, 2016. 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.