Data / Crowdfunding / Kentucky / TROPICAL RACING INC
TROPICAL RACING INC: crowdfunding raise on OpenDeal Portal LLC, $100,000 to $1,070,000 (2021)
TROPICAL RACING INC, a corporation in Versailles, KY, filed a Form C with the SEC on February 5, 2021 to raise $100,000 to $1,070,000 in Class A Common Stock through OpenDeal Portal LLC. The offering closed on March 30, 2021. In its most recent fiscal year it reported $337,912 in revenue and a net loss of $3,352,546, with 11 employees.
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- Website
- www.tropicalracing.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 1740 GRASSY SPRINGS ROAD, Versailles, KY 40383
- Legal form
- Corporation
- Jurisdiction
- FL
- Incorporated
- March 31, 2017
- SEC CIK
- 0001746611
Offering terms
From the amendment filed February 5, 2021.
- Security
- Class A Common Stock
- Price
- $2.25
- Target
- $100,000
- Maximum
- $1,070,000
- Deadline
- March 30, 2021
- Portal compensation
- At the conclusion of the offering, the issuer shall pay to the Intermediary a fee of six percent (6%) of the amount raised in the offering.
Financials
From the Form C-AR filed May 2, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $337,912 | $316,949 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-3,352,546 | $-1,641,186 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $5,266,815 | $3,773,738 | sec.gov |
| Cash | $336,431 | $166,914 | sec.gov |
| Accounts receivable | $22,790 | $16,209 | sec.gov |
| Short-term debt | $0 | $0 | sec.gov |
| Long-term debt | $664,196 | $3,195,460 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 5, 2021 | Progress update | Not listed | Not listed | The Offering closed successfully on 03/30/2021, having received investment commitments of $142,834, although a final accounting has not taken place. | sec.gov | |
| February 5, 2021 | Amendment | $100,000 | $1,070,000 | March 30, 2021 | Amendment is due to incorrect version filed on original filing. | sec.gov |
| February 4, 2021 | Offering | $100,000 | $1,070,000 | March 30, 2021 | sec.gov |
Updated May 2, 2022. 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.