Data / Crowdfunding / California / Solectrac, Inc.
Solectrac, Inc.: crowdfunding raise on StartEngine Capital, LLC, $10,000 to $1,070,000 (2020)
Solectrac, Inc., a corporation in Albion, CA, filed a Form C with the SEC on November 25, 2020 to raise $10,000 to $1,070,000 in common stock through StartEngine Capital, LLC. The offering closed on December 8, 2020. In its most recent fiscal year it reported $83,258 in revenue and a net loss of $167,883, with 1 employees.
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- Website
- www.solectrac.com
- Funding portal
- StartEngine Capital, LLC
- Address
- 30151 NAVARRO RIDGE RD., Albion, CA 95410
- Legal form
- Corporation
- Jurisdiction
- CA
- Incorporated
- May 28, 2019
- SEC CIK
- 0001811231
Offering terms
From the amendment filed November 25, 2020.
- Security
- Common Stock
- Price
- $1.00
- Target
- $10,000
- Maximum
- $1,070,000
- Deadline
- December 8, 2020
- Portal compensation
- 7.0 percent
Financials
From the Form C-U filed October 7, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $83,258 | $71,910 | sec.gov |
| Cost of goods sold | $51,680 | $96,622 | sec.gov |
| Net income | $-167,883 | $-194,834 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $186,873 | $3,247 | sec.gov |
| Cash | $114,210 | $3,247 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $97,593 | $60,000 | sec.gov |
| Long-term debt | $166,586 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| October 7, 2022 | Progress update | $10,000 | $1,070,000 | December 8, 2020 | Adjustment to the initial Form C-U filing. At the close of the offering, the issuer closed on $1,020,639.22 and 1,046,067 number of securities. | sec.gov |
| April 30, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| December 16, 2020 | Progress update | $10,000 | $1,070,000 | December 8, 2020 | At the close of the offering, the issuer closed on $1,068,800.00 and 1,133,117 number of securities. | sec.gov |
| November 25, 2020 | Amendment | $10,000 | $1,070,000 | December 8, 2020 | Minor Perk Adjustment, Concurrent Offering & Extension | sec.gov |
| October 23, 2020 | Amendment | $10,000 | $1,070,000 | November 25, 2020 | Issuer extended their campaign and added information about outside funding. | sec.gov |
| September 11, 2020 | Amendment | $10,000 | $1,070,000 | October 26, 2020 | Issuer updated campaign page. | sec.gov |
| August 24, 2020 | Amendment | $10,000 | $1,070,000 | October 26, 2020 | Issuer extended their campaign and provided an updated page. | sec.gov |
| July 15, 2020 | Amendment | $10,000 | $1,070,000 | August 26, 2020 | Issuer updated their team section. | sec.gov |
| May 28, 2020 | Offering | $10,000 | $1,070,000 | August 26, 2020 | sec.gov |
Updated October 7, 2022. 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.