Data / Crowdfunding / New York / We Are the New Farmers Inc.
We Are the New Farmers Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $1,070,000 (2021)
We Are the New Farmers Inc., a corporation in Brooklyn, NY, filed a Form C with the SEC on December 9, 2021 to raise $25,000 to $1,070,000 in Crowd SAFE (Simple Agreement for Future Equity) through OpenDeal Portal LLC. The offering closed on April 12, 2022. In its most recent fiscal year it reported $269,309 in revenue and a net loss of $471,732, with 6 employees.
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- Website
- www.new-farmers.com
- Funding portal
- OpenDeal Portal LLC
- Address
- 80 58TH STREET, Brooklyn, NY 11220
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- May 29, 2018
- SEC CIK
- 0001888810
Offering terms
From the amendment filed December 9, 2021.
- Security
- Crowd SAFE (Simple Agreement for Future Equity)
- Price
- $1.00
- Target
- $25,000
- Maximum
- $1,070,000
- Deadline
- April 12, 2022
- Portal compensation
- At the conclusion of the offering, the issuer shall pay a fee of six percent (6%) of the amount raised in the offering to the Intermediary.
Financials
From the Form C-AR filed April 24, 2023.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $269,309 | $135,937 | sec.gov |
| Cost of goods sold | $302,588 | $161,553 | sec.gov |
| Net income | $-471,732 | $-283,692 | sec.gov |
| Taxes paid | $173 | $0 | sec.gov |
| Total assets | $313,266 | $170,182 | sec.gov |
| Cash | $92,660 | $17,703 | sec.gov |
| Accounts receivable | $31,487 | $0 | sec.gov |
| Short-term debt | $202,140 | $85,006 | sec.gov |
| Long-term debt | $13,957 | $13,957 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 24, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| April 24, 2023 | Annual report | Not listed | Not listed | sec.gov | ||
| April 25, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 14, 2022 | Progress update | $25,000 | $1,070,000 | April 12, 2022 | The Offering closed successfully on 4/13/2022, having received investment commitments of $208,271.00, although a final accounting has not taken place. | sec.gov |
| December 9, 2021 | Amendment | $25,000 | $1,070,000 | April 12, 2022 | (i) extend the Offering Deadline to April 12, 2022; (ii) increase the Maximum Offering Amount, (iii) increase the Maximum Individual Purchase Amount, and (iv) replace Exhibit A self-certified financials with reviewed financials. | sec.gov |
| November 29, 2021 | Offering | $25,000 | $107,000 | March 16, 2022 | sec.gov |
Also on SpecStream
Updated April 24, 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.