Data / Crowdfunding / California / TAXA Biotechnologies Inc
TAXA Biotechnologies Inc: crowdfunding raise on Wefunder Portal LLC, $200,000 to $1,000,000 (2016)
TAXA Biotechnologies Inc, a corporation in San Francisco, CA, filed a Form C with the SEC on August 2, 2016 to raise $200,000 to $1,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on August 9, 2016. In its most recent fiscal year it reported $3,892 in revenue and a net loss of $366,880, with 3 employees.
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- Website
- www.taxa.com
- Funding portal
- Wefunder Portal LLC
- Address
- 665 3rd Street Ste 230, San Francisco, CA 94107
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- March 8, 2012
- SEC CIK
- 0001674082
Offering terms
From the amendment filed August 2, 2016.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $200,000
- Maximum
- $1,000,000
- Deadline
- August 9, 2016
- Portal compensation
- 3.0% of the offering amount upon a successful fundraise.
Financials
From the Form C-AR filed May 2, 2017.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $3,892 | $5,694 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-366,880 | $-298,573 | sec.gov |
| Taxes paid | $1,457 | $1,247 | sec.gov |
| Total assets | $223,265 | $230,909 | sec.gov |
| Cash | $182,977 | $193,376 | sec.gov |
| Accounts receivable | $0 | $1,097 | sec.gov |
| Short-term debt | $581,161 | $589,120 | sec.gov |
| Long-term debt | $732,807 | $423,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 2, 2017 | Annual report | Not listed | Not listed | sec.gov | ||
| November 23, 2016 | Progress update | $200,000 | $1,000,000 | November 21, 2016 | The final number is $309,807.00 in investments. The deadline date was set to today to work around an EDGAR glitch but the offering actually closed on 08-09-16. | sec.gov |
| August 18, 2016 | Progress update | $200,000 | $1,000,000 | August 18, 2016 | $335,111 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 08-09-16. | sec.gov |
| August 2, 2016 | Amendment | $200,000 | $1,000,000 | August 9, 2016 | Changed deadline date, updated Form C, updated business plan and included transcription of the podcast. | sec.gov |
| June 1, 2016 | Amendment | $200,000 | $1,000,000 | November 12, 2016 | Include updated SAFE contract where major investor threshold is $10K instead of $25K. | sec.gov |
| June 1, 2016 | Amendment | $200,000 | $1,000,000 | November 12, 2016 | Lowered target offering amount to $200K, include revenue share for the first $200K, and updated business plan. | sec.gov |
| May 16, 2016 | Offering | $400,000 | $1,000,000 | November 12, 2016 | sec.gov |
Updated May 2, 2017. 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.