Data / Crowdfunding / California / Soar Robotics Inc.
Soar Robotics Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2019)
Soar Robotics Inc., a corporation in West Hollywood, CA, filed a Form C with the SEC on December 19, 2019 to raise $25,000 to $1,070,000 in Crowd Safe Unites of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on March 10, 2020. In its most recent fiscal year it reported $5,756 in revenue and a net loss of $26,894.
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- Website
- www.soarrobotics.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 8605 SANTA MONICA BOULEVARD, West Hollywood, CA 90069
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- July 5, 2019
- SEC CIK
- 0001783015
Offering terms
From the amendment filed December 19, 2019.
- Security
- Crowd Safe Unites of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- March 10, 2020
- Portal compensation
- 6% of the amount raised in the Offering.
Financials
From the Form C-AR filed April 29, 2020.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $5,756 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-26,894 | $0 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $144,973 | $0 | sec.gov |
| Cash | $141,683 | $0 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $2,253 | $0 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 7, 2020 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 29, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| March 11, 2020 | Progress update | $25,000 | $1,070,000 | March 10, 2020 | The Offering closed successfully on March 10, 2020, having received investment commitments of $1,070,000, although a final accounting has not taken place. | sec.gov |
| December 19, 2019 | Amendment | $25,000 | $1,070,000 | March 10, 2020 | The issuer conducted an intermediate close of this offering and drew down part of the proceeds. This amendment discloses information about this to investors in the offering memorandum. | sec.gov |
| December 19, 2019 | Amendment | $25,000 | $1,070,000 | March 10, 2020 | The amendment updates the offering deadline from December 31, 2019 to March 10, 2020 and updates the amount of cash on hand from approximately $177,000 to approximately $250,000. | sec.gov |
| September 5, 2019 | Offering | $25,000 | $1,070,000 | December 31, 2019 | sec.gov |
Updated May 7, 2020. 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.