Data / Crowdfunding / California / Sam Lee Laundry LLC
Sam Lee Laundry LLC: crowdfunding raise on Wefunder Portal LLC, $200,000 to $500,000 (2017)
Sam Lee Laundry LLC, a limited liability company in San Francisco, CA, filed a Form C with the SEC on July 28, 2017 to raise $200,000 to $500,000 in debt through Wefunder Portal LLC. The offering closed on August 18, 2017. In its most recent fiscal year it reported $1,884,605 in revenue and a net loss of $51,890, with 11 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.thespeakeasysf.com
- Funding portal
- Wefunder Portal LLC
- Address
- 644 Broadway, Unit 10, San Francisco, CA 94133
- Legal form
- Limited Liability Company
- Jurisdiction
- CA
- Incorporated
- January 2, 2015
- SEC CIK
- 0001641104
Offering terms
From the amendment filed July 28, 2017.
- Security
- Debt
- Price
- $1.00
- Target
- $200,000
- Maximum
- $500,000
- Deadline
- August 18, 2017
- Portal compensation
- 4.0% 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-AR filed April 24, 2019.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,884,605 | $2,052,422 | sec.gov |
| Cost of goods sold | $6,729 | $0 | sec.gov |
| Net income | $-51,890 | $168,266 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $1,672,134 | $2,092,931 | sec.gov |
| Cash | $25,245 | $47,971 | sec.gov |
| Accounts receivable | $952,369 | $880,561 | sec.gov |
| Short-term debt | $155,000 | $150,000 | sec.gov |
| Long-term debt | $1,002,193 | $1,177,436 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 24, 2019 | Annual report | Not listed | Not listed | sec.gov | ||
| May 1, 2018 | Annual report | Not listed | Not listed | sec.gov | ||
| February 14, 2018 | Progress update | $200,000 | $500,000 | August 18, 2017 | The final number is $270,788.00 in investments | sec.gov |
| July 28, 2017 | Amendment | $200,000 | $500,000 | August 18, 2017 | Changed deadline date, included video transcripts, and updated business plan. | sec.gov |
| May 8, 2017 | Amendment | $200,000 | $500,000 | August 30, 2017 | Included reviewed 2016 financials. Updated use of funds. Extended deadline. Updated with 2016 operating results. Corrected one figure. Updated profile. Added early bird perk. Issuer borrowed another $50k from managing member. | sec.gov |
| May 8, 2017 | Withdrawal | Not listed | Not listed | sec.gov | ||
| May 3, 2017 | Amendment | $200,000 | $500,000 | August 30, 2017 | Included reviewed 2016 financials. Updated use of funds. Extended deadline. Updated with 2016 operating results. Corrected one figure. Updated profile. Added early bird perk. Issuer borrowed another $50k from managing member. | sec.gov |
| October 20, 2016 | Offering | $200,000 | $550,000 | April 18, 2017 | sec.gov | |
| August 29, 2016 | Progress update | $50,000 | $1,000,000 | August 29, 2016 | $476,851.00 in investments. Payments are still being processed; final number is yet to be determined. The deadline date was set to today to work around an EDGAR glitch but the offering actually closed on 08-17-16. | sec.gov |
| August 11, 2016 | Amendment | $50,000 | $1,000,000 | August 17, 2016 | Include updated business plan, podcast transcription, and changed deadline date. | sec.gov |
| May 23, 2016 | Amendment | $50,000 | $1,000,000 | November 19, 2016 | include audited financials, increase maximum offering amount, update risks, signed by another managing member | sec.gov |
| May 17, 2016 | Offering | $50,000 | $100,000 | November 12, 2016 | sec.gov |
Updated April 24, 2019. 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.