Data / Crowdfunding / California / TransitNet LLC
TransitNet LLC: crowdfunding raise on Wefunder Portal LLC, $50,000 to $5,000,000 (2022)
TransitNet LLC, a limited liability company in El Segundo, CA, filed a Form C with the SEC on November 3, 2022 to raise $50,000 to $5,000,000 in Simple Agreement for Future Equity (SAFE) through Wefunder Portal LLC. The offering closed on April 30, 2023. In its most recent fiscal year it reported $0 in revenue and a net loss of $238,998.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- transitnet.io
- Funding portal
- Wefunder Portal LLC
- Address
- 360 NORTH PACIFIC COAST HWY, SUITE 2000, El Segundo, CA 90245
- Legal form
- Limited Liability Company
- Jurisdiction
- CA
- Incorporated
- February 2, 2020
- SEC CIK
- 0001830411
Offering terms
From the amendment filed November 3, 2022.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $5,000,000
- Deadline
- April 30, 2023
- Portal compensation
- 6.75% 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-AR filed June 11, 2025.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $-351,929 | sec.gov |
| Cost of goods sold | $238,998 | $0 | sec.gov |
| Net income | $-238,998 | $-509,929 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $-70,228 | $196,277 | sec.gov |
| Cash | $5,000 | $176,277 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $160,974 | $87,720 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 11, 2025 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| June 11, 2025 | Annual report | Not listed | Not listed | sec.gov | ||
| June 11, 2025 | Annual report | Not listed | Not listed | sec.gov | ||
| April 29, 2024 | Annual report | Not listed | Not listed | sec.gov | ||
| May 15, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| November 3, 2022 | Amendment | $50,000 | $5,000,000 | April 30, 2023 | Adding in $100,000 of additional raises. | sec.gov |
| June 14, 2022 | Offering | $50,000 | $5,000,000 | April 30, 2023 | sec.gov | |
| April 29, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| November 13, 2020 | Offering | $50,000 | $1,070,000 | March 4, 2021 | sec.gov |
Updated June 11, 2025. 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.