Data / Crowdfunding / New York / The Drivers Cooperative, Inc.
The Drivers Cooperative, Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $2,600,000 (2023)
The Drivers Cooperative, Inc., a corporation in Long Island City, NY, filed a Form C with the SEC on November 3, 2023 to raise $50,000 to $2,600,000 in Investment Contract for Revenue Share through Wefunder Portal LLC. The offering closed on April 29, 2024. In its most recent fiscal year it reported $6,109,126 in revenue and $125,912 in net income, with 6 employees.
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- Website
- drivers.coop
- Funding portal
- Wefunder Portal LLC
- Address
- 31-00 47th Ave #303, Long Island City, NY 11101
- Legal form
- Corporation
- Jurisdiction
- NY
- Incorporated
- April 24, 2020
- SEC CIK
- 0001870718
Offering terms
From the offering filed November 3, 2023.
- Security
- Investment Contract for Revenue Share
- Price
- $1.00
- Target
- $50,000
- Maximum
- $2,600,000
- Deadline
- April 29, 2024
- Portal compensation
- 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.
Financials
From the Form C filed November 3, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $6,109,126 | $535,318 | sec.gov |
| Cost of goods sold | $5,552,522 | $475,811 | sec.gov |
| Net income | $125,912 | $-182,710 | sec.gov |
| Taxes paid | $108,775 | $-47,253 | sec.gov |
| Total assets | $1,891,024 | $1,234,303 | sec.gov |
| Cash | $356,781 | $1,033,424 | sec.gov |
| Accounts receivable | $902,866 | $94,952 | sec.gov |
| Short-term debt | $139,956 | $151,639 | sec.gov |
| Long-term debt | $1,800,213 | $1,257,721 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| November 3, 2023 | Offering | $50,000 | $2,600,000 | April 29, 2024 | sec.gov | |
| October 27, 2023 | Progress update | $50,000 | $2,500,000 | April 30, 2022 | The issuer sold 16,252 notes at a total purchase price of $1,625,191 | sec.gov |
| October 26, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2022 | Amendment | $50,000 | $2,500,000 | April 30, 2022 | C/A - removal of COO & updated language in Q28 | sec.gov |
| August 26, 2021 | Amendment | $50,000 | $2,500,000 | April 30, 2022 | Fixing contract typo, adding audited statements, and updating max goal (Katie) | sec.gov |
| July 20, 2021 | Amendment | $50,000 | $1,070,000 | April 30, 2022 | Fixing contract typo (Katie) | sec.gov |
| July 14, 2021 | Offering | $50,000 | $1,070,000 | April 30, 2022 | sec.gov |
Also on SpecStream
Updated November 3, 2023. 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.