Data / Crowdfunding / California / Upshift Inc.
Upshift Inc.: crowdfunding raise on Wefunder Portal LLC, $50,000 to $447,000 (2023)
Upshift Inc., a corporation in San Francisco, CA, filed a Form C with the SEC on April 21, 2023 to raise $50,000 to $447,000 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 $196,677 in revenue and a net loss of $597,910, with 6 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.upshiftcars.com
- Funding portal
- Wefunder Portal LLC
- Address
- 981 Mission Street, San Francisco, CA 94103
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- October 3, 2012
- SEC CIK
- 0001722137
Offering terms
From the amendment filed April 21, 2023.
- Security
- Simple Agreement for Future Equity (SAFE)
- Price
- $1.00
- Target
- $50,000
- Maximum
- $447,000
- Deadline
- April 30, 2023
- Portal compensation
- 5.0% 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/A filed April 21, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $196,677 | $143,464 | sec.gov |
| Cost of goods sold | $117,300 | $38,221 | sec.gov |
| Net income | $-597,910 | $-214,299 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $659,846 | $262,013 | sec.gov |
| Cash | $240,507 | $10,006 | sec.gov |
| Accounts receivable | $6,700 | $7,467 | sec.gov |
| Short-term debt | $553,280 | $378,653 | sec.gov |
| Long-term debt | $325,860 | $330,712 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 21, 2023 | Amendment | $50,000 | $447,000 | April 30, 2023 | Non-material amendment increasing the Early Bird threshold to $150,000 | sec.gov |
| December 30, 2022 | Amendment | $25,000 | $535,000 | December 29, 2022 | Updating the financial statements to include reviewed financial statements for the fiscal year ending in 2020. | sec.gov |
| December 22, 2022 | Offering | $50,000 | $447,000 | April 30, 2023 | sec.gov | |
| November 21, 2022 | Progress update | $25,000 | $535,000 | November 18, 2022 | The Offering closed successfully on 11/19/2022, having received investment commitments of $178,340.18, although a final accounting has not taken place. | sec.gov |
| June 24, 2022 | Offering | $25,000 | $535,000 | November 18, 2022 | sec.gov | |
| May 3, 2022 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| May 3, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| May 19, 2021 | Annual report | Not listed | Not listed | sec.gov | ||
| January 25, 2021 | Progress update | $25,000 | $1,070,000 | March 18, 2021 | The Offering closed successfully on 01/23/2021, having received investment commitments of $715,877.93 although a final accounting has not taken place. | sec.gov |
| September 10, 2020 | Amendment | $25,000 | $1,070,000 | March 18, 2021 | The issuer has revised the debt section of Form C and extended its offering deadline until March 18, 2021. | sec.gov |
| April 30, 2020 | Amendment | $25,000 | $1,070,000 | September 30, 2020 | The issuer has provided additional financial statements and extended its offering until September 30, 2020. | sec.gov |
| March 24, 2020 | Amendment | $25,000 | $1,070,000 | April 29, 2020 | The issuer, among other changes, changed the offering deadline date, disclosed a new debt financing, updated the cash on hand, added certain disclosures and amended the use of proceeds. | sec.gov |
| January 31, 2020 | Amendment | $25,000 | $1,070,000 | April 30, 2020 | The issuer extended the offering deadline, updated the cash on hand and added certain disclosures and disclaimers. | sec.gov |
| November 25, 2019 | Offering | $25,000 | $1,070,000 | February 22, 2020 | sec.gov |
Updated April 21, 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.