Data / Crowdfunding / New York / Snailz, Inc.
Snailz, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2020)
Snailz, Inc., a corporation in New York, NY, filed a Form C with the SEC on September 24, 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 February 28, 2021. In its most recent fiscal year it reported $49,225 in revenue and a net loss of $248,484.
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- Website
- snailzapp.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 48 WALL STREET 5TH FLOOR, New York, NY 10005
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- April 18, 2016
- SEC CIK
- 0001686984
Offering terms
From the amendment filed September 24, 2020.
- Security
- Crowd Safe Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- February 28, 2021
- Portal compensation
- The issuer shall pay to the Intermediary at the conclusion of the Offering a fee of six percent (6%) of the amount raised in the offering.
Financials
From the Form C-AR filed April 30, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $49,225 | $69,932 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-248,484 | $-889,968 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $285,508 | $230,582 | sec.gov |
| Cash | $37,649 | $12,106 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $2,566,507 | $266,552 | sec.gov |
| Long-term debt | $0 | $2,075,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 17, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| March 3, 2021 | Progress update | $25,000 | $1,070,000 | February 28, 2021 | The Offering closed successfully on March 1, 2021, having received investment commitments of $207,115 although a final accounting has not taken place. | sec.gov |
| September 24, 2020 | Amendment | $25,000 | $1,070,000 | February 28, 2021 | The offering deadline has been extended, and the form C/A has been prepared to reflect the expiration of some stock grants in capitalization section, addition of a risk factor regarding the conversion rights of major investors, among few minor changes. | sec.gov |
| June 1, 2020 | Offering | $25,000 | $1,070,000 | September 30, 2020 | sec.gov |
Updated May 17, 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.