Data / Crowdfunding / Florida / Truth Arts Inc.
Truth Arts Inc.: crowdfunding raise on OpenDeal Portal LLC, $1 to $618,000 (2024)
Truth Arts Inc., a corporation in Hollywood, FL, filed a Form C with the SEC on July 25, 2024 to raise $1 to $618,000 in SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on August 23, 2024. In its most recent fiscal year it reported $281,050 in revenue and a net loss of $5,207,868, with 10 employees.
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
- www.TruthArts.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 1210 HATTERAS LN, Hollywood, FL 33019
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 10, 2014
- SEC CIK
- 0002008595
Offering terms
From the offering filed July 25, 2024.
- Security
- SAFE (Simple Agreement for Future Equity)
- Price
- $0.01
- Target
- $1
- Maximum
- $618,000
- Deadline
- August 23, 2024
- Portal compensation
- None.
Financials
From the Form C-AR filed May 1, 2025.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $281,050 | $0 | sec.gov |
| Cost of goods sold | $7,624 | $0 | sec.gov |
| Net income | $-5,207,868 | $-4,283,710 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $4,895,393 | $9,750,113 | sec.gov |
| Cash | $4,875,235 | $3,593,417 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $16,584 | $7,552 | sec.gov |
| Long-term debt | $0 | $0 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| May 1, 2025 | Annual report | Not listed | Not listed | sec.gov | ||
| September 13, 2024 | Progress update | $1 | $618,000 | August 23, 2024 | The Offering closed successfully on 9/10/2024, having received investment commitments of $1,344, although a final accounting has not taken place. | sec.gov |
| July 25, 2024 | Offering | $1 | $618,000 | August 23, 2024 | sec.gov | |
| May 6, 2024 | Progress update | $1 | $1,235,000 | April 9, 2024 | The Offering closed successfully on 4/10/2024, having received investment commitments of $2.74, although a final accounting has not taken place. | sec.gov |
| March 26, 2024 | Amendment | $1 | $1,235,000 | April 9, 2024 | This material amendment is filed to extend the Offering Deadline from March 27, 2024 to April 9, 2024. | sec.gov |
| March 11, 2024 | Amendment | $1 | $1,235,000 | March 27, 2024 | This material amendment is filed to (i) update the liquidation priority in the Safe, (ii) update the terms of Dissolution herein, and (iii) update the Risk Factors to align with the terms of Dissolution. | sec.gov |
| February 27, 2024 | Offering | $1 | $1,235,000 | March 27, 2024 | sec.gov |
Updated May 1, 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.