Data / Crowdfunding / Michigan / Totle Inc.
Totle Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2019)
Totle Inc., a corporation in Birmingham, MI, filed a Form C with the SEC on March 22, 2019 to raise $25,000 to $1,070,000 in Crowd SAFE Units of SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 29, 2019. In its most recent fiscal year it reported $0 in revenue and $640,732 in net income, with 5 employees.
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- Website
- www.totle.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 260 E BROWN STREET SUITE 200, Birmingham, MI 48009
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- September 12, 2017
- SEC CIK
- 0001728559
Offering terms
From the amendment filed March 22, 2019.
- Security
- Crowd SAFE Units of SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- April 29, 2019
- Portal compensation
- The issuer shall pay to the intermediary at the conclusion of the offering a fee consisting of six percent (6.0%) commission based on the amount of investments raised in the offering and paid upon disbursement of funds from escrow at the time of closing.
Financials
From the Form C-AR filed May 3, 2021.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $640,732 | $1,810,212 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $7,087 | $56,138 | sec.gov |
| Cash | $6,263 | $56,134 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $2,845,247 | $2,103,565 | sec.gov |
| Long-term debt | $150,000 | $300,000 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 10, 2021 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 3, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| April 29, 2020 | Annual report | Not listed | Not listed | sec.gov | ||
| May 2, 2019 | Progress update | Not listed | Not listed | The offering exceeded its target offering amount, receiving approximately $147,577 in investment commitments, although a final accounting has not taken place. | sec.gov | |
| March 22, 2019 | Amendment | $25,000 | $1,070,000 | April 29, 2019 | Update to jurisdictions list and website spelling due to scrivener's error. | sec.gov |
| March 8, 2019 | Offering | $25,000 | $1,070,000 | April 29, 2019 | sec.gov |
Updated May 10, 2021. 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.