Data / Crowdfunding / Hawaii / Terraformation Inc.
Terraformation Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $5,000,000 (2021)
Terraformation Inc., a corporation in Kailua-Kona, HI, filed a Form C with the SEC on September 13, 2021 to raise $25,000 to $5,000,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on January 31, 2022. In its most recent fiscal year it reported $1,899,753 in revenue and a net loss of $12,497,144, with 60 employees.
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- Website
- www.terraformation.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 73-4485 KAHILIHILI STREET PMB 112, Kailua-Kona, HI 96740
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 1, 2020
- SEC CIK
- 0001852878
Offering terms
From the offering filed September 13, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $5,000,000
- Deadline
- January 31, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-AR filed April 29, 2024.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $1,899,753 | $1,067,524 | sec.gov |
| Cost of goods sold | $1,294,430 | $792,694 | sec.gov |
| Net income | $-12,497,144 | $-15,724,500 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $26,894,682 | $13,494,077 | sec.gov |
| Cash | $23,392,452 | $9,634,783 | sec.gov |
| Accounts receivable | $362,751 | $264,664 | sec.gov |
| Short-term debt | $162,580 | $163,050 | sec.gov |
| Long-term debt | $321,390 | $493,534 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 29, 2024 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 29, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| April 28, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| May 4, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| February 1, 2022 | Progress update | $25,000 | $5,000,000 | January 31, 2022 | The Offering closed successfully on 2/01/2022, having received investment commitments of $4,609,553.19, although a final accounting has not taken place. | sec.gov |
| September 13, 2021 | Offering | $25,000 | $5,000,000 | January 31, 2022 | sec.gov |
Updated April 29, 2024. 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.